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.

Discrepancy


If the postal date was 4 May, then the letter was not sent before the announcement of the $200k rise in RP either  on 25 April  (original posting on FB 25 Apr 2017 at 20:57, though this later changed to 26 April at 11:52or  on 28th Apr (18th SC Meeting).. Singpost is far more efficient than that. Possible reasons:
  1. The RP is still not official - perhaps it has to be ratified with a new CSA from the legal department. 
  2. There are 2 RPS out there - one for residents  and another for non-residents.
I am very sceptical about all this. Are they going ahead with signing sessions before the RP has been officially raised? The CSA signing page has no RP listed on it - so how is the SP to know which RP is is signing for?  

I would demand some form of written assurance that the RP is now the higher $1.X (with added $200k) before signing any blank piece of paper. 
  • Are we to get any legal affirmation for the new RP? 
  • Why are some SPs receiving letters and others not? Selective dissemination of information is very worrying.

21 comments:

  1. Anonymous06 May, 2017

    By this weekend signing, if we cannot achieve at least 70%,I think it's game over !

    ReplyDelete
    Replies
    1. Anonymous06 May, 2017

      More unconvincing explanations, unnecessary complications; symptomatic of SC/MA's (mis)management of this Collective Sale from the very beginning. Tomorrow's or any other day numbers don't really matter anymore. Enbloc foundation is so weak it will all come tumbling down like a house of cards.










      Delete
  2. Anonymous06 May, 2017

    Ma'am you raise pertinent issues. To answer satisfactorily would require knowledge of LTSA and be familiar with proper, acceptable conduct of Collective Sale. It's out of their depth to give clear, straight answers now without their go to guy; you know, the one they expelled.
    I'm not signing, so their default fallback position; taking the fifth, is fine by me. Those considering signing may demand more clarity. Or they may not. It's their prerogative, their choice, their rights and our homes.

    ReplyDelete
  3. Anonymous06 May, 2017

    Boy O Boy, these guys are good! They bend it better than Beckham!....and it's not about the ball.

    ReplyDelete
  4. Anonymous06 May, 2017

    Honesty is the best policy. If that's too bothersome, then an alibi is a good enough alternative.
    I need help to track a missing letter. Who do I call in Singpost?

    ReplyDelete
  5. Anonymous07 May, 2017

    What's with the nitpicking and speculating? Simply ask for the CSA and you will see the RP very clearly. Of course the signing page will have a reference to what you are signing, in the presence of a lawyer. This is misleading.

    ReplyDelete
    Replies
    1. You are wrong. The last time they had a signing session I went down to check. I even took a pic of the signing page - there is NO mention of the actual RP figure you are signing for, It is a GENERIC page - just take out your old CSA and look at it. When I asked to see some form of proof - the new CSA for example - they couldn't give me any.

      Delete
    2. Anonymous07 May, 2017

      Actually no issue lah. It's silly to deny payout of the latest RP. Enbloc apportionment is equal & based on flr size. No developer, MA or SC will try to shortchanged any SPs or cheat them by paying some SPs lesser. Asking for trouble only.

      Delete
    3. Anonymous07 May, 2017

      Are we talking about the same fellas who dreamed up about Silver Zone, Round market closure, too big to swallow any higher unworkable at 7XXM, not interested in FOC valuation of TC, withheld crucial info from SPs, no problem with conflict of interest, badmouth our estate, make unfair comparisons, contradict themselves on a regular basis, hold secret discussions pertaining to the sale of our estate, go on breaking the law because too lazy to read up, confused about which RP is currently in effect? Let me check. Yep, same ones. Big Deal Man!

      Delete
  6. Anonymous07 May, 2017

    Darn you Singpost. More than 10(TEN) days to effect delivery of a simple letter on our little island! Has SC determined if ALL non resident SP mail were affected? It's either a cruel, malicious act or gross incompetence by Singpost.
    SC must investigate and lodge a complain against Singpost. They're jeopardising this Enbloc. First it's Mr V, now Singpost. What's wrong with these guys? Can't they ever get things right!

    ReplyDelete
    Replies
    1. Anonymous07 May, 2017

      The letter to all non resident SPs is correct. It was sent before RP was aggrandised in reaction to latest GLS numbers.
      No complaint need be lodged against Singpost. Thank You.

      Delete
  7. Anonymous07 May, 2017

    Have SC sent another letter to non resident SPs that undated letter, postal date 4 May has been superseded with newer RP?

    ReplyDelete
  8. Anonymous07 May, 2017

    Now that we are done with the durian seller, anti-enblockers want to pull in the durian pickup company (Singpost) for not delivering the notice.

    In fact, anti-enblockers don't know who to blame so they will blame anyone and everyone. But not themselves of course.

    Soon, I am sure the government is going to be dragged in. What fun!

    ReplyDelete
    Replies
    1. Anonymous07 May, 2017

      Issue is the unbelievable tall tales swallowed hook, line and sinker by some. No no no not the government, but the courts.

      Delete
    2. Anonymous07 May, 2017

      Ya lah, govt at fault also. They should give 24 mths instead of 12 mths to collect 80% signature.

      Delete
    3. Anonymous07 May, 2017

      Adverse comment on Singpost was made by PRO Enbloc in defence of SC. Expletive directed at delivery boy, not committee.

      Delete
  9. Anonymous07 May, 2017

    66% have signed. Oh god please do not give them the 80% that they do not deserve

    ReplyDelete
    Replies
    1. Anonymous08 May, 2017

      Pls learn to give thanks to sc, its a thankless job, if you think you can do better, why didn't you people volunteer, instead of wasting time and energy opposing.

      Delete
  10. Anonymous07 May, 2017

    66% have signed! Looks like this will go down to the wire!

    Another 5 weeks of watching Pro-enbloc and Anti-enbloc fanboys throwing durian egg tarts at each other!

    ReplyDelete
  11. Anonymous08 May, 2017

    Do not sign, because of the memories you treasure at TC and hold dear.

    Sign, if you want to start a new life or need to put aside funds for a rainy day.

    The most stupid thing to do (in my view) is to let the SC/MA be the reason for why you sign or don't sign.

    ReplyDelete
    Replies
    1. Anonymous08 May, 2017

      Money is the king. It's the reason for those who signed if they find it attractive. Nothing to do with SC/MA.

      Delete