How easy is it for condo committee to cheat money?
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 Jul 7 2015, 11:10 AM
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Senior Member
5,436 posts Joined: Jan 2011 
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QUOTE(kochin @ Jul 7 2015, 11:07 AM) if it's so simple, people would have done it long ago lah. share share c please. trust me, i just revisited my model. it looks solid. definitely doable. but don't think it would ever see the light of days.    |
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Jul 7 2015, 11:10 AM
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Junior Member
282 posts Joined: Dec 2005
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» Click to show Spoiler - click again to hide... « woooo .... save first .. maybe future got use ...  |
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Jul 7 2015, 11:10 AM
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Senior Member
3,790 posts Joined: Aug 2007  
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QUOTE(HELLO HELLO @ Jul 7 2015, 11:06 AM) condo side income.. carpark rental, venue/function room rental, shop rental, bbq area rental, car wash fee...ada apa lagi? From experience, actually all you mentioned contribute very little to management income. Almost negligible, either because rental very low or usage is infrequent. To make matters worse, such income subject to income tax and GST.provide unit cleaning service? rent and sale service? or macam japan punya robot hotel. use robot to manage. The best money maker is maintenance followed by interest income (FD or normal savings). |
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Jul 7 2015, 11:11 AM
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Senior Member
3,790 posts Joined: Aug 2007
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QUOTE(kochin @ Jul 7 2015, 11:07 AM) if it's so simple, people would have done it long ago lah. share pls. trust me, i just revisited my model. it looks solid. definitely doable. but don't think it would ever see the light of days.  |
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Jul 7 2015, 11:12 AM
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Senior Member
3,790 posts Joined: Aug 2007
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QUOTE(djboycalvin @ Jul 7 2015, 11:10 AM) » Click to show Spoiler - click again to hide... « woooo .... save first .. maybe future got use ...  i am con-sultant ready and at your service  |
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Jul 7 2015, 11:14 AM
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All Stars
10,319 posts Joined: Dec 2009 From: Malaysia
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aiyah, once shared then i can never built dy.
people steal my idea. better not say so much. fyi, my ideas is applicable to both new development and existing highrises as well. so it's not confined to only new builts. |
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Jul 7 2015, 11:14 AM
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Senior Member
5,436 posts Joined: Jan 2011
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QUOTE(aurora97 @ Jul 7 2015, 11:10 AM) From experience, actually all you mentioned contribute very little to management income. Almost negligible, either because rental very low or usage is infrequent. To make matters worse, such income subject to income tax and GST. use fund to buy share buy unitrust buy gold buy antique buy land buy house? high risk high gain.The best money maker is maintenance followed by interest income (FD or normal savings). |
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Jul 7 2015, 11:17 AM
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Senior Member
5,436 posts Joined: Jan 2011
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QUOTE(kochin @ Jul 7 2015, 11:14 AM) aiyah, once shared then i can never built dy. when u want to become developer? or any condo can implement your method? people steal my idea. better not say so much. fyi, my ideas is applicable to both new development and existing highrises as well. so it's not confined to only new builts. This post has been edited by HELLO HELLO: Jul 7 2015, 11:18 AM |
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Jul 7 2015, 11:19 AM
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All Stars
10,319 posts Joined: Dec 2009 From: Malaysia
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QUOTE(HELLO HELLO @ Jul 7 2015, 11:17 AM) when u want to become developer? or any condo can implement your method? u finance me lor. |
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Jul 7 2015, 11:19 AM
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Senior Member
3,790 posts Joined: Aug 2007
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QUOTE(kochin @ Jul 7 2015, 11:14 AM) aiyah, once shared then i can never built dy. Knowledge is like a candle, it can light up a dark room. If you put a tea cup over the candle... people steal my idea. better not say so much. fyi, my ideas is applicable to both new development and existing highrises as well. so it's not confined to only new builts. Lel... Why u pancing me like this. QUOTE(HELLO HELLO @ Jul 7 2015, 11:14 AM) use fund to buy share buy unitrust buy gold buy antique buy land buy house? high risk high gain. After considering the risk of 10 yrs and 10m fine that can be imposed by bnm or sc, I take my chances with CoB (often than not toothless and balless). |
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Jul 7 2015, 11:42 AM
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All Stars
33,725 posts Joined: May 2008
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QUOTE(kochin @ Jul 7 2015, 11:14 AM) aiyah, once shared then i can never built dy. If you don't want to share why then mentioned it here ?people steal my idea. better not say so much. fyi, my ideas is applicable to both new development and existing highrises as well. so it's not confined to only new builts. Are you hoping to find a buyer of your invention ? You think there is a possibility of finding a buyer ? I think it's almost unlikely lar. People just copy the idea. Nobody is willing to pay for something which can be copied. Maybe consider patenting it. |
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Jul 7 2015, 11:58 AM
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Senior Member
3,790 posts Joined: Aug 2007
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kokchin No money, no problem. Who knows, we might become promoters of your fund also If Greek bailout can raise Eur 1.8 mil in 8 days, it's possible your idea can fly also. https://www.indiegogo.com/projects/greek-ba...ut-fund?#/story |
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Jul 7 2015, 03:14 PM
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Senior Member
2,036 posts Joined: May 2010
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QUOTE(kochin @ Jul 7 2015, 11:19 AM) u finance me lor. come kochin kor, we meet out and share your idea,then we sell your idea to all those condo and help them manage !! serios one call me |
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Jul 7 2015, 03:21 PM
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Senior Member
590 posts Joined: May 2015 From: Arsenal, North London
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Not all Condo committee can be trusted.
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Jul 7 2015, 03:22 PM
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Junior Member
70 posts Joined: Mar 2009
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QUOTE(kochin @ Jul 7 2015, 11:19 AM) u finance me lor. Do crowdfunding la |
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Jul 7 2015, 03:50 PM
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All Stars
33,725 posts Joined: May 2008
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QUOTE(jinsailoo @ Jul 7 2015, 03:14 PM) come kochin kor, we meet out and share your idea, This is a difficult sell.then we sell your idea to all those condo and help them manage !! serios one call me If you don't reveal enough info, people are not convinced. After you reveal enough info, people just take your idea and use it for free. |
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Jul 7 2015, 04:22 PM
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All Stars
11,943 posts Joined: Mar 2012 From: Kuala Lumpur
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unless you are immune to jail, you can go ahead to cheat those funds.
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Jul 7 2015, 04:27 PM
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Senior Member
2,036 posts Joined: May 2010
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QUOTE(peri peri @ Jul 7 2015, 04:22 PM) unless you are immune to jail, you can go ahead to cheat those funds. in malaysia every one can immune to jail, as long as you have enoght kopi |
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Jul 7 2015, 04:37 PM
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All Stars
11,943 posts Joined: Mar 2012 From: Kuala Lumpur
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QUOTE(jinsailoo @ Jul 7 2015, 04:27 PM) in malaysia every one can immune to jail, as long as you have enoght kopi i dont dare to try. |
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Jul 7 2015, 04:37 PM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(ic no 851025071234 @ Jul 7 2015, 08:57 AM) My condo there seem to have very heated competition by few to take up committee and alot drama la last year. Finally with the current chairman kick out previous chairman and the apparently current chairman is related the treasurer or something. Account needs to audited every year, you can't just take the money out without any reason, or transfer to any individual account.If this the case is it very easy for the chairman to just pocket the maintenance fund and all into own account or is it very well regulated? Seem like very long time already and they should have called for agm few months ago but conveniently forgot. Even people complain the committee just ignore and all. Do you think there is personal gain? It is a CBT offence if simply take a public money (management fund) into personal use. Auditor will easily find out when audit the account time. But only buying engage with a specific contractor/company or cronyism, buying expensive etc is the grey area which should be aware of. Adopting open tender process, openness during committee meeting etc are several good way to reduce such a grey area. |
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