Disclaimer






"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.

The Carrot (or Durian)

Just when we thought the SC had thrown in the towel, they come blasting back with an RP plucked from the air.

Was this decision to raise the RP just another 'chit-chat' discussion not important enough for a minuted meeting- or will we get to see some actual number crunching for a change.  The SC and MA have no vision, they have to wait until something lands on their plate before realising TC's potential. The Tampines Parcel C GLS gives them an excuse to raise the RP without apologising for getting it so wrong for so long.

This is the RP they should have started out with from Day 1.






Banner or no banner: The SC/MA are not wrong in their muted, low key publication of the new reserve price., skipping the need for large banner display etc. Their logic probably goes like this:

It doesn't matter how big a banner you put up, the response will be the same.  The Notice is clear enough, noticeable enough, and they have posted the signing session between the lift doors. A 6 ft banner would not make a difference. TC SPs are averse to the overkill.

Having a 2 hour signing session is probably enough to gauge the response. If they are inundated with SPs then they can either extend the hours or schedule another day. They are not spending precious man hours hanging about an empty void deck any more than they need to. 2 hours and they'll know if it's a winner or a dead duck.

People who are signing say:



54 comments:

  1. Nothing much to comment at this stage. With the new revision of RP and not much time left, we will soon know if enbloc is successful or failed. All the best to everyone, whether u are for or against enbloc. Afterall we are all neighbors.

    ReplyDelete
  2. Agree that this is the RP they should have started from Day 1 and gels with calculations. If SC/MA have changed their negative view and are earnest in getting this through at this price and enlist the support our knowledgeable SPs, it can succeed finally. I have not signed, but am pondering now.

    ReplyDelete
  3. It is too late to raise the RP now.

    I agreed it should have started from day 1 but MA insisted TC can only find buyer at low RP. MA even resigned from TC enbloc giving "new reserve price is not achievable" as a reason.

    It is very strange that MA agreed to raise the RP again only 2+ months from the last RP increase. Do they know somethings which we (SPs) do not know ? They keep everything to themselves with no communication to SPs.

    SC/MA rejected SPs proposal to raise RP and wasted 8 months. It is unlikely to achieve 80% with less than 2 months.

    In enbloc 2, the RP also raised with only 2 months left but only gained 3+ % signatures.

    I think SPs have lost confidence in this SC/MA. I prefer to wait for enbloc 4.

    ReplyDelete
    Replies
    1. 'Know something we don't know': hmm... I'm guessing with 5 out of 9 bidders from China means there's a lot of big money out there.

      Delete
    2. Anonymous02 May, 2017

      The money is right in front of you.And yet you choose to wait for next en bloc, which might not even happen. How foolish can that be. Look at the whole dilapidated estate!

      Delete
  4. It seems to me SC meetings are for consideration of strata rolls, SP awareness and idle chit chat on notices and banners.
    Serious Mega Million Dollar decisions are made during never minuted discussion on latest GLS or Collective Sale news reported by local papers over kopi-o and toast at our corner kopitiam. I guess SPs will not be shown latest RLV anytime soon.

    This EnBloc process is so flawed, personalities so 'damaged', for SCMA's sake, hope they don't achieve minimum consent level.

    The lengths some go just to avoid calling for an EOGM.

    ReplyDelete
  5. My worry with this team is that these simpletons have compromised themselves and tarnished our estate in the process.
    SC/MA were unrestrained, with imagination in overdrive in their negativity in suppressing our RP and blared out to all Tampines Court problematic, crumbling infrastructure.
    Buyers perspective will of a confused, incompetent, desperate sales team eager to dispose of a flawed, mediocre product at bargain basement price. CSC go into negotiations like a Lamb to the Slaughter House.
    Chairman and mates have done their groundwork all too well this time round. Trouble is, its all for Developers benefit.

    EnBloc IV, it's worth the wait.

    ReplyDelete
  6. There's renewed exuberance from some quarters after latest announcement by SC. They however, must prove their competence and give credence to latest RP with workable numbers.
    A significant number of jaded SPs must be won over in a short time. Many useful suggestions have been offered. All recommendations involve considerable sacrifice of time, effort and resources on an urgent basis by SC/MA.
    Can this reinvigorated team convince remaining SPs that they now have the 'Right Stuff'; the gumption, acumen and perseverance to see this through?
    Remaining SPs will be Judge, Jury, Signatory.

    PS. General invite thru FB to approach team just won't cut it. SPs have high expectations from those who gave them Hi Hopes. I won't sign. Good Luck, just don't go rogue.

    ReplyDelete
  7. Anonymous01 May, 2017

    Even after raising the RP, They only put up a small size notice on the board. I've seen zero banner so far. Are they really that cheapskate?

    ReplyDelete
    Replies
    1. Anonymous01 May, 2017

      They have put up banners at the gates before. If u purposed in your heart not to sign it, however big the banner is,even right at your door step, you will still not be able to see it. period.

      Delete
    2. Anonymous02 May, 2017

      You mean the last pathetic small banners asking SPs to come & talk if they feel shortchanged ? It makes SPs even more angry later they found out that the purpose of the meeting is just to judtify tge equally pathetic RP. No wonder some SPs refused to sign even though RP has been raised. Serve you right !

      Delete
  8. Anonymous01 May, 2017

    It is a big mistake to engage this team of SC/MA to market big project like TC. If they are not willing to fork out marketing cost then please don't take up the project !

    ReplyDelete
  9. Anonymous01 May, 2017

    The cost of banners are insignificant to an almost billion dollar deal. A couple hundred dollars too wasteful on a venture they have no faith in. So they won't commit resources. Will they put in time n effort? During SC home visit will they explain previous controversial issues, provide RLV for SPs scrutiny? Can SC give honest, consistent, believable answers for their incoherent decisions to win over SPs?

    "The thing about telling the truth is: you don't have to remember it once you've said it"... wise man.
    For some others, a good alibi works just as well.
    Work on it, time is running out.

    ReplyDelete
  10. Anonymous01 May, 2017

    The hallmarks of a professional team is the knowledge and discipline to work within the Laws. Always aware of it's responsibilities of openess and transparency and duty to get best price. Prompt and unafraid in refuting any accusations of impropriety because they have always been principled and act in the best interest for all SPs.
    The real issue is that this poorly prepared, confused and irrational SC/MA have squandered valuable time and opportunities. Did not get the right RP from the start because THEY could not think straight.
    Sad that more money makes it all right to overlook questionable behaviour. It's the choice of some. That's their right.

    ReplyDelete
  11. Anonymous01 May, 2017

    No banner is needed as long as SP can see the small size notice. Anyway, we have such a good blog here with great people sharing their unhappiness and are keen to wait for Enbloc 4 with lower $$$.

    ReplyDelete
  12. Anonymous02 May, 2017

    Stingy say so lah. Know how to collect millions of dollars of commission & yet not willing to spent on banners. Might as well suggest all the agents don't advertise since no guarantee able to close deal.

    ReplyDelete
  13. Anonymous02 May, 2017

    i am signing. i prefer to take the money now and move to a new place than to wait for ENBLOC 4 which may or may not happen and if it does will be many years away. by then, RP could be same, marginally higher or worst lower. So waiting few years more just to get the same money or just marginally higher does not seem wise. To me, a dollar today is worth more than a dollar tomorrow. Thanks for the info.

    ReplyDelete
    Replies
    1. Anonymous03 May, 2017

      You're delusional !
      Enbloc FB: "... sales consultant put in ALL their effort to reach out to ALL SPs yet to sign. SC will do house visit ...."
      I've yet to sign, yet no house visit, flyers, phone calls, briefings to engage and convince. It's only logical to win over the uncommitted BEFORE scheduling any signing session. Previously SC/MA held 6 signings (achieved 52 units total) with Sunday signings stretching a whole 7 hrs. This time, they figured a solitary 2 hr session good enough to attract SPs from at least 135 units to sign !
      Fact of the matter is, SC/MA will not waste their time, people or money on an Enbloc they know is doomed. It's just perfunctory. For what? To salvage what little credibility or avoid an EOGM to explain their fiasco. Who knows?
      We're still waiting for Huttons to reach out and SC's house calls.

      Delete
  14. Anonymous02 May, 2017

    1 week has passed since they announced increase of RP. How many has signed up? I have yet to see a single banner, letter in my mailbox or phone call. Perhaps time will stood still for them. Those who expect windfall just continue dreaming.

    ReplyDelete
  15. Anonymous02 May, 2017

    The RP increase but 80% yet to reached? 2 months can make it or need another round Enbloc? Come on guys, please come forward and get it done!

    ReplyDelete
  16. Anonymous02 May, 2017

    If the durian is good, why do you care if the durian seller looks like a gangster? The durian seller will be gone after he sold the durian. If you want to wait 2 more years for enbloc 4, are you sure you will get a good looking durian seller selling a good durian? maybe you will get rambutans or worse, have diabetes and can't eat.

    ReplyDelete
    Replies
    1. Anonymous02 May, 2017

      Selling a land or a house is completely different from selling a durian. It takes a whole lot more, If you can say yes, They can say no. If you want to sign, They too have the equal right not sign. Simple as that.

      Delete
    2. Anonymous03 May, 2017

      The durian may be good but if you get a lousy salesman it still won't sell, especially if he condemn his own product. You think people will buy your durian no matter how good it is ? That's what happen to TC. We engage the wrong salesman. Fire him !

      Delete
    3. Anonymous03 May, 2017

      Hey! I'm talkin to you. Yea you, desperado ! You OK dealing with the underworld !
      They ain't got no respect for the Law, use underhand tactics, NEVER keep their word.
      What an apt description ! Get outta here ya degenerate punk before Tampines Court degenerates into a lawless ghetto.
      Gees, it's already startin to happen.

      Delete
    4. Anonymous03 May, 2017

      Yes, fire durian seller cos you think he is lousy, and wait for another 2 years. Then fire the next one again because you think he didn't respect your mother or kiss your baby. We can come back here again after 10 years, will still be talking about enbloc, that time, give you $10m, but too bad you have no more teeth to eat durian.

      Delete
    5. Anonymous03 May, 2017

      Your 'explanation' is a bit ridiculous I must say. We all understand that each owner have different views and different plans on their future. Some might not even sign because they want to stay here as long as they can no matter how attractive the RP is. So ultimately let's just respect one another. Don't tell others to sign or don't tell others not to sign

      Delete
    6. Anonymous03 May, 2017

      No need think so far, 10 years later with the scarcity of land, TC may indeed worth more than $10m or zero as the world has ended. Right now we should just fire the lousy & incompetent durian seller.

      Delete
  17. Anonymous03 May, 2017

    Fantastic! Finally they put up a 'poster' a tiny cheapskate A4 size 'poster'. And only 2 hours this week for SPs to sign. I think everyone must be so eager to do so. Fantastic marketing people !. They really deserve the million dollars commission (hopefully dropped from the sky)!

    ReplyDelete
    Replies
    1. Anonymous03 May, 2017

      Clearly they never heard of ' Spend money to make money ' concept

      Delete
    2. Anonymous03 May, 2017

      You are so cheapskate too! Are you expecting high tea to be served in order to sign the paper?!

      Delete
    3. Anonymous04 May, 2017

      Collecting millions of dollars of commission and yet refused to spent little money. Real cheapskate man ! I will sack any agent who want to market my unit and yet so stingy ! Might as well I advertise and sell on my own. Save back my commission to the cheapskate agent. You are not only useless durian seller who talk bad about his product but cheapskate too. Please resign and get another job !

      Delete
  18. Anonymous03 May, 2017

    Ma'am, you put forth a probable SC/MA game plan.
    It bothers me that there's no interaction to convince uncommitted SPs, as they said they would. This incommensurate level of activity at this crucial juncture and keeping all in the dark; one cannot blame SPs from rationally concluding that they have all but given up and not turn up on Sunday.
    SC/MA do not care nor attempt to address SPs concerns. Insecure in their communication skills, unable or afraid to parry attacks make them highly unsuitable for high stakes negotiations of hundreds of other peoples homes.
    Too many blunders, too compromised, too much contradiction for SC/MA to be taken seriously or argue effectively. Their inadequacies so glaringly and regularly exposed.
    Seriously, I doubt they truly believe in this latest RP. They've stated quite convincingly, so many times before. Cannot defend it with conviction.

    ReplyDelete
    Replies
    1. Anonymous04 May, 2017

      I do agree with you. It's all about psychological selling. When the SPs perceived that there is no chance of getting 80 % since activity for signing has toned down so much, they wouldn't be bothered to turn up. SC/MA also failed to understand it is simply because of lack of time, they should spent money to churn up the hype and excitement by putting up large banners. A small pathetic A4 size notice further confirm the perception by SPs that there is little chance of success since MA is perceived not willing to spent time and money. For most marketers they will spent even more money on A&P (advertising & promotion) during 1-2 months annual sales and not cut back. Our SC/MA is just doing the reverse. The biggest cause of failure is MA/SC refused to listen to feedback and grievances from SPs and just simply go ahead and do what they think is right. History already speak for itself with so many mistakes make in the past few months.

      Delete
  19. Sorry, I might have accidentally 'deleted' a comment instead of 'publish'ing. If yours is missing - send it again.

    ReplyDelete
  20. Anonymous04 May, 2017

    SC/MA remind me of the headhunter who got me a job in research at a lab here. The headhunter had zero idea what she was doing except to stick herself in between me and my employer, and get a brokerage fee in between. Nevertheless, I needed the job and there are few jobs in my area of research and my employer needed me as there are few people who have my experience.

    In fact, all middlemen are like that, they live more on luck rather than effort. Their job is to reduce my asking sell price and increase employers asking buy price. SC/MA are resorting to this higher selling price not so much as whether they believe it enbloc will succeed, because nothing will change as the developers are not stupid regardless of how much the SC/MA believes. It is just a last resort for them since time is running out.

    For me, timing is important. We need hungry developers and I think the Chinese still have a strong appetite. Hence I will be signing.

    ReplyDelete
    Replies
    1. Anonymous05 May, 2017

      Our SC/MA in negotiations with Chinese Developers. That thought alone is enough for me to break into cold sweat.
      In military parlance, it's termed "Asymmetric Warfare": Adversaries with vastly different powers and capabilities.
      They'll be well prepared, could recite Sun Tzu's Art of War; backwards!
      Our guy's still trying to locate Tampines Court RLV (shhh...it does not exist, never did)
      SC/MA's done! stick a fork in them. Were all toast. The Chinese are hungry no more.
      Be careful with what you wish for!

      Delete
    2. Anonymous05 May, 2017

      the reaction here shows how horrified anti enbloc SPs are with the new RP and how they want to stop it at all costs.

      well, interesting times this blog. and then it goes dead for the next 2 years and encore. the never ending TC enbloc show. We will definitely beat Pine Grove in the expiry of our lease! good luck!

      Delete
    3. Anonymous05 May, 2017

      " We will definitely beat Pine Grove in the expiry of our lease! good luck!". Another fear tactics. - The durian seller must be very desperate because his durian cannot sell and going rotten soon.

      Delete
    4. Anonymous05 May, 2017

      This RP is Kosher. It's in line with Blog owner's calculations. It does not horrify me. Neither do pro enbloc SPs quest for 80% (it's their home, they have equal rights), buyer negotiations, whatever the eventual sell price turns out to be do not stress me.
      Some may eventually complain of the missed opportunities. I worry more about the feelings of hurt, anger, suspicion, rancor, distrust, divisiveness...that will linger post enbloc.
      All this negativity and controversy attests to the impropriety in which this Collective Sale is conducted.
      Enbloc III is too flawed to pass muster. It will self destruct either at Tampines Court or at the High Courts.
      I'm not anti enbloc. I do disapprove of the management style of this sale.
      I'm not horrified, just sad and disappointed.

      Delete
    5. Anonymous06 May, 2017

      Because Pine grovers are also waiting for Brad Pitt to appear in durian pickup and sell MaoShanWang at $5m

      Delete
  21. My daughter who lives in Blk 131 says that there are people going from door to door telling residents that if the do not sign for envoy they will have to foot out $20 000 for repairs. SC playing scaremongering game again.

    ReplyDelete
  22. Anonymous04 May, 2017

    Sign or don't sign doesn't matter, if everyone sign it will end up in high court again with a long list of blunders committed since this latest en bloc attempt started.

    We need strong and stable SC, not this coalition of chaos.

    ReplyDelete
    Replies
    1. Anonymous05 May, 2017

      agreed. because there will always be SPs who will whine and say they are force fed with maoshanwang.

      Delete
  23. Anonymous04 May, 2017

    There were several calls to 'fire this lousy salesman'
    Well, his selection was not aboveboard.
    Large, wild swings and hasty changes to RP suggests dubious valuation, poor technical analysis. Some were on his whims (Silver Zone, never substantiated) others in response to breaking Enbloc/GLS news. Ever ready to disparage our land, his tactics ranged from encouragement of bidding war (depress price) to the current Developers exuberance (premium price)
    So, for now the recommendation is: "Durian 'R-Pee' La Grandé A`la Capone"
    Remember last month's favourite? "Spicy Strata Rolls Flambe a`la Perfectos"
    Whispers suggests upcoming choice: "Tampines DaBombe '20000' Crumble"
    Like the unnamed 'Local Developer' it's all too rich for my liking.

    ReplyDelete
  24. Anonymous05 May, 2017

    "Residential market likely recover by early 2018"... Tay Huey Ying, JLL head of research. She also mentions "Rio Casa" and 'EunosVille" as having potential. Why is Tampines Court always left out by Property Pundits? Chairman, your MA needs to be more proactive. C'mon, put in more groundwork, headwork, legwork. Start working the phones; get TC on the Property Honchos radar, pronto! Invest on advertisement and promotions, even on banners, every little bit counts. Lets have adverts on newspapers and TV. After all, thats where you guys get your property updates.
    Ever considered a YouTube video? Raintree and Rio Casa have a slick aerial shot of their site shot from a drone.
    Why always rely on residents to come up with all the ideas? You're receiving several million in commission: for professional services. Start acting like one.

    ReplyDelete
    Replies
    1. Anonymous05 May, 2017

      Such videos are marketing tools for when the property is on sale. You can't market it when you don't have 80% consent...

      Delete
    2. Anonymous05 May, 2017

      Hold your horses! What's the point producing all those fancy marketing gimmicks if they don't have have the mandate to sell yet? They might actually get in trouble with the law if they do that. Think before you type.

      Delete
    3. Anonymous05 May, 2017

      Same article also mentions that Collective Sale priced at $500M or less more palatable to Developers. Uh oh, Tampines Court RP now revised to $499.9M.
      Flavour of the hour is now: "Crémé Durian 'R-Pee' De`Lite A`la Capone.

      Changes in wind direction no fault of SC/MA. They're not to be blamed.

      Delete
    4. Anonymous05 May, 2017

      Don't be ridiculous. Have you ever seen a durian gangster take a drone video of his durian plantation? He doesn't know no french cheese nor final cut pro x, but he knows how to cut the durian and show its soft yellow pillows while you salivate at the RP, and that's what's important.

      Delete
  25. Anonymous05 May, 2017

    Momok said:
    If this increase was arrived at without a minuted minutes of meeting I wonder what SC will do if no bid of 1.X million is tendered. After all the increase is not official is it? Is it in black and white?

    (RP edited by itshometome)

    ReplyDelete
    Replies
    1. Anonymous05 May, 2017

      They heard you. Quickie Meeting just concluded and backdated to 28 April. We're legit again. Phew ! that was close. Thanks for the warning 'Momok", you devil you.

      Delete
  26. Anonymous05 May, 2017

    This blog is suppose to be anti TC enbloc right ? I wonder why the lousy durian seller trying to sell it's equally lousy product (durian) which he love to condemn so much. Why don't you do yr selling at your own facebook ? Oh i see, no business ah ? Only 50 visitors from 560 SPs. No wonder lah, they can't even bother to promote their FB to get more SPs to participate in communication. Alamak, like that how to sell our mega million dollars enbloc.

    ReplyDelete
  27. Anonymous05 May, 2017

    Very urgent !!! I just received a letter from SC stating that RP is $1.Xm but not the $xxx,000 more RP $1.Ym which was posted on Facebook and notice board. Can SC clarify which is the correct RP ? 1.Xm or 1.Ym ?

    (RP edited by itshometome)

    ReplyDelete
    Replies
    1. Anonymous05 May, 2017

      Can you please repost on TC official facebook as this is just a blog & owner also edited the figures so we have no head no tail of what you are talking about. Morever, SC is not oblidge to reply officially to you in this blog.

      Delete