Part of iCity consist of iSoho (residence) , iSuite(residence), Centralwalk(residence), retail shoplot(own by iBerhad) and carpark running by a JMB team consists of iBerhad staff with majority of committees are iBerhad staff.

Instead of operate according to Strata Management Act, different accounts were opened and managed separately for different blocks under JMB (which is against the Strata Management Act 2013) but the yearly financially report was presented to residents as single account in the yearly report.

However in 2023 when the strata title is ready for perfection, the different accounts were presented for the very first time to resident and caught the resident in shock that all the residential blocks account are in deficit and requested to be increased of maintenance fee and sinking fund which is unjustifiable and unreasonable by 44% to 67% for residential blocks, but carpark reduced by 36%.

During the same year, the JMB hired Gather Management as consultant (lead by Kent Teo) forking out generous amount/month from the maintenance account which imho to manage the situation .

Resident had raised the concern to COB , COB had also done the visit and meet up with the Gather Management consultant and JMB (but all iBerhad staff JMC were absent) in Oct 2023. With that meetup, COB had requested icity JMB to revise to single rate and share 3 third party auditor to COB (for selection to audit the account) by 8 Nov (10 days after the meetup).

None of COB requests were attended by icity JMB at the time of writing, resident continue to suffer with the steep increased maintenance fee.

On top of that , the carpark had increase few times from rm30 to rm75 now.

It is very expensive and hard to invest an iCity property when the rental could never catch up with the increment.

This post has been edited by minems: Jan 10 2024, 03:56 PM

0.30 psft same as per their current new launching BeCentral...not sure how is that sustainable for the new launch

That is so true...

Refers to here for details
https://www.facebook.com/share/p/J8YEKNSn6x...mibextid=K35XfP

Well spotted!!
They in fact hire Gather Building Management ( using maintenance fund) to manage the noise from residents further deficit the fund.
.

Also instead to adhere to the COB's request, they plan to hire lawyer to defense the COB' request, i doubt the lawyer fee will be funded by iBerhad (likely from maintenance fund)

This post has been edited by minems: Dec 16 2024, 09:29 PM

Hope this sharing will be useful to their future potential buyers, at least the buyers could make an informed decision...

Same person ?
https://www.facebook.com/groups/10276729406...00007753173118/

Exactly...sad...

https://www.facebook.com/share/p/1NdB2avS7H/