How to be a Chairman 101.

Rule 1: Never pocket maintenance fund into your own account.
Rule 2: inflate prices of service.
Rule 3: always take indirect money from vendor.
Rule 4: if you need to (in contravention of rule 1), you can buy using your credit card and tell the committee that you wanted to collect points (make sure it is in minute). Use the reward points convert into shopping voucher.
Rule 5: make sure bank statement and cheque book is kept in your house.
Rule 6: hire your own ma chai (crony) to become your accounts and auditor.
Rule 7: request mini-mart/restaurant to share half of their profits with you or get kicked out and then you can set up your own business.
Rule 8: you can buy and make claim from JMB/MC at “inflated price of course”.
Rule9 : make sure you pay your staff fat increment and bonus to shut them up.
Rule 10: repeat 1 to 9.

When there is equal votes in the committee, the chairman gets one additional vote to break the deadlock.

The standard modus operandi is always got a few supporters (or yes man).

unfortunately i am still poor like shet.

Actually all this problem arise because of the indifference of owners, AGM/EGM also don’t attend and leave it to “certain people” to run the management. The rot normally starts slowly with minor inflated claims, after that the amount gets bigger and bigger. Since no one query, the opportunity for wrong doing grows bigger day by day.

This is proven, as our auditor went into investigate item by item (not forensic type of audit), the claims get bigger and bigger, the reason for the claim also get more and more ridiculous. (example: night club expenses in Penang, kononya have to entertain some bomba people cause they creating some problem, when condo is in KL).

Also, another account normally will be affected is the sinking fund.

See 2(5)/(6) of Schedule 2 SMA.

Actually that is the right way of getting around the problem.

The law is quite clear. Cannot 2 years consecutively become Chairman, Treasurer or Secretary.

So this year Chairman, next year Treasurer, year after become Secretary and rotate around like musical chair, shouldn’t be a problem. Worse become committee. Committee can sit up to 3 years.

Sounds great, but things that sound too good to be true normally smell like a Ponzi scheme.

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.

The best money maker is maintenance followed by interest income (FD or normal savings).

share pls.

you know where to find me

i am con-sultant ready and at your service

Knowledge is like a candle, it can light up a dark room. If you put a tea cup over the candle...

Lel... Why u pancing me like this.

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).

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

the last chairman, we try to initiate criminal case against him... took us 2 years until we pressure the branch IO from bukit aman.

I second the kopi o part cause the X person was rumoured to make a funny request, which led to delay in investigation.

never try never know but than again better don't try. people actually went after the chairman, his house kena painted red. one committee member's car got extra special treatment (all cermin pecah and door kemek).

The modus operandi, both account and auditor are in the pocket of the chairman.

If the item of contention is agreed upon by all committee members and recorded in the minutes, the contention no longer exist and becomes legitimate.

open tender is the best but the tender committee must have technical experience. I was part of a pre-liminary interviewing team, was quoted Rm 1m for repainting job, my colleague did some rough calculation and knocked it down to RM 700K. All of the contractors quoted more or less 1M +. So careful with open tender as well and best do itemized tendering.

It's the duty of Dev, JMB and MC to have the accounts audited and have a copy of the audited account file with COB.

See:
section 14 (Developer), 26 (JMB) and 62 (MC) of the Strata Title Management Act

Failure:
Maybe liable up to 3 years imprisonment or fine of up to 250K or both.

to add:

If condition is serious enough, ask COB to instruct JMB/MC to hold EGM.