Date of Meeting: 01/11/2007
Venue: Block 295 Function Room
Members Present:
Mr. Heng Hock Heng
Mr. Paul Lim
Mr. Walklin Russell
Ms Cheng Ah Lain
Mr. Karuppiah Tanapalan
Mr. Alan Verghese
Ms Audra Foo
Mr. George Lim
Mr. David Ng
Meeting commenced @ 7.10pm
1.1 Mr. Paul Tan and Legal team from Colin Ng & Partners (CNP) giving a presentation on the following :
- Introduction of CNP
- The Collective Sale Process
- Q&A Session
- CNP’s Appointment Letter
1.2 CNP’s Recent Collective Sale Transactions:
- Balestier Court
- Concorde Residences
- Loyang Lodge
- Satnam House
1.3 CNP Legal Team Supporting Bedok Court Enbloc Sale
- Mr. Paul Tan
- Mr. Chan Wai Mun
- Ms Donne Marie Aeria
- Ms Grace Kwek
- Ms Tian Geok Peng
- Mr. Haresh Kamdar
1.4 Collective Sale Procedure
Role of CNP
- Drafting & preparation of CSA
- To present the CSA
- Explaining terms & conditions and mass signing of approved CSA on site over 2 weekends
- Signing of CSA by SPs who are not present during the mass signing
- 5 day “cooling off” period after the SPs sign the CSA
- Certifications of consents obtained under the CSA once every 4 weeks
- Sale by public tender/public auction, preparation of tender documents
- Strata Title Board Application
- Conveyancing process
- Completion of collective sale
2.0 Appointment of Solicitor & Property Consultant
2.1 It was unanimously agreed by the all members of the Sale Committee to appoint M/s Dennis Wee Realty Pte Ltd as the Property Consultant and M/s Colin Ng & Partners as Solicitor for the Collective Sale of Bedok Court Condominium.
3.0 CSC Meeting
3.1 At 8.25pm, CSC meeting commenced with amendments initiated by Paul to Minutes of Meeting No 4, proposed by Palan and seconded by George Lim.
3.2 Mr. Walklin Russell has been elected as Treasurer, proposed by David Ng and seconded by George Lim. All members agreed.
3.3 Mr. Heng put forward the issue on fund collection for CSC activities and George Lim suggested that the marketing agent, Dennis Wee Realty Pte Ltd should bear the costs. All members agreed.
3.4 Finalized on Terms and Conditions for appointment of Marketing Agent, namely, commission agreed upon is 0.5% of sales price. No Enbloc Sale, No Fee to Subsidiary Proprietors
3.5 Finalized on Terms and Conditions for appointment of Solicitor, namely, initial low sign on fees at $100.00 per apartment and no penalty if the application is rejected by STB.
4.0 Any Other Business:
4.1 Mr. David Ng volunteered to liaise with the Solicitor on behalf of SC and SPs
4.2 There are 26 subsidiary proprietors recorded in the meeting attendance record.
The meeting ended at 8.45pm.
The next CSC meeting is scheduled on 20th November 2007 at 8pm.
Recorded by: Audra Foo
Post date: 08.11.2007, 03:37 hour
Last update: 08.11.2007
