Notice of First Annual General Meeting for the formation of the Management Corporation (Perbadanan Pengurusan Pearl Garden) to be held on the 21 March 2009 (Saturday), at the Community Hall of Pearl Garden Condominium, Jalan Dato Ismail Hashim, 11900 Penang.
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Just to add another comment to the question of Sinking Fund. Building and Common Property ( Maintenance and Management) Act 2007 (Act 663) Section IV sub-sections 22 and 24 call for setting up two separate funds for Building Maintenance Fund and Sinking Fund. Using simple calculation, the Sinking Fund should have increased to RM1032.6k if at interest rate of 3.5% p.a. It is important to ensure that interests earned are accounted for and reported together with Sinking Fund.
ReplyDeleteCan JMB management explain why the audited account is not distributed to all residents like other condo. Do JMB expect residents to stand in front of notice board to check the accounts. It is ridiculous. I propose to reject the accounts unless we are given a copy and are given sufficient time to go through them. Block A owner.
ReplyDeleteHi,
ReplyDeleteThank you very much for this input. Well, when comes to money and interest earned, people are quite anxious to know, isn't it? Hopefully, we can get some information from JMC before the AGM tomorrow.
I was informed that a Miss Teh can give us an explanation for the interest rate thing. Let's hope to get some info from her tonight. So, say tune in Pearl Garden, My Home...I will be updating as more info comes in.
ReplyDeleteIt was minuted in JMC meeting dated 19 Jul 2008 that Sinking Fund together with interest earned to date be put into a separate account.
ReplyDeleteLT