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"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
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There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.

SHUNFU VILLE GOING TO HIGH COURT

Update: 23 Oct 2016
I heard on the grapevine that one of the objections at least has some merit. Apparently, the LTSA mandated 1 yr from 80% in which to sell the estate had expired without a sale. There was a break (I don't know how long) before a supplementary agreement between a different 80% was signed. So was the collective sale dead and can it be resurrected after the time limit has lapsed? Now it is getting interesting.






2 comments:

  1. According to newspaper report, this project has received 5 objections.

    I believe TC will received more objections, not so much on the ground of financial lost of SPs but the way SC conducted the Enbloc.

    I was surprised that the adimin of the facebook deleted many of the posts posted by SPs who have good intention to point out their mistake and give suggestions. Their reason is that they cannot accept “ personal remarks and non-related information “ in their facebook.

    I have been following the postings closely and I don’t see any post of such nature though some of the remark may be quite harsh because of the grave mistakes they are making.

    It seems that they are not open to constructive criticism. If that is the case why do they invite SPs to join them in the latest SC meeting to suggest raising of the RP It is obvious that they know that their low RP has failed to gain enough support and need help from SPs.

    Beside the Vice Chairman, whom they sacked illegally. I feel none of the SC members are qualified to handle the TC Enbloc.

    I am not putting too much hope in TC Enbloc round III

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  2. The highest ever transacted sale at Shunfu was 1.33m a few years back. Considering the allowable deductions and their en bloc proceed of 1.78m per unit i honestly don't see how anybody can claim a financial loss. Any suggestions?

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