Hi Taikos,

Would like to know.

My 2 year-old JMB had been holding on to the audited report of 2023 despite numerous attempts since middle of last year. The reason given was the report wasn't ready.

They have since released the 2023 report 2 weeks ago, only because that the first AGM will commence in middle of June. They have claimed that the strata perfection has not reached 25% until we hard pressed for proof of who has not done the perfection.

So the question is, how is it even possible to have the mandatory submission of audited financial report done almost 1.5 years passed the submission date?

Who is going to bear the penalty? The JMB with the resident's fund, the developer or proxy management company?

report to COB

jmb fails to submit, then jmb will face the consequence, e.g. fines/legal action from COB. In this case jmb will use jmb's money to settle

however, other property owners can sue commitee members for neglecting their duty, this 1 they cant use jmb money to settle

This post has been edited by Nanti Sekejap: May 30 2025, 02:20 PM

The JMB is really really hanky panky. Tan Sri's penthouse wasn't opened for sale. and all his allocated carparks are at the ground floor, the only resident's carpark at the ground floor.

Kept on delaying the AGM, been telling us 25% perfect hasn't reach yet.

Please avoid this developer, Maxim Global.

My current condo, unqualified audit report for 2022, 2023, 2024 and didn't submit audited report. Hasn't been able to call an AGM, way past the 15 month (12+3 extension). Just waiting for them to call AGM, get the minutes and submit a complaint to MACC and COB.

COB will freeze the JMB account if didn't submit audited report and AGM approved minutes.

But first, report to COB. Something fishy. Whole condo value drop kaw kaw just because of this shit.