Desa Putra Condominium: July 2009

Desa Putra Condominium Joint Management Body

c/o Burgess Rawson Management Sdn Bhd

The Management Office, Desa Putra Condominium, No. 4, Jalan Wangsa Perdana 3

Bandar Baru Wangsa Maju, 53300 Kuala Lumpur

Tel: 03-4148 1092 Fax: 03-4143 7681

CIRCULAR

Our Ref : MD/97/17/09-07-46 (2^ndAGM)

Date : 21 July 2009

To : All Owners of Desa Putra Condominium Joint Management Body

From : The Property Manager, Burgess Rawson Management Sdn Bhd

Subject : THE 2^ND ANNUAL GENERAL MEETING (AGM) OF DESA PUTRA CONDOMINIUM JOINT MANAGEMENT BODY HELD ON 4 JULY 2009

Dear all valued parcel proprietors,

Kindly be informed that the 2^nd AGM of Desa Putra Condominium Joint Management Body (DPCJMB) was successfully held on 4 July 2009.

The decisions on the proposed resolutions as discussed in the above meeting are summarized as follows:-

1) Resolution 1: Minutes of the Last Annual General Meeting

The minutes of 1^st Annual General Meeting of the DPCJMB held on 6 April 2008 had been confirmed and adopted.

2) Resolution 2 : Adoption of the Audited Account of the Joint Management Body For

Period from 1 August 2008 to 31 March 2009

The Audited Accounts for the above period had been received and adopted by the DPCJMB.

3) Resolution 3: Appointment of External Independent Licensed Auditor

It was resolved by the DPCJMB that a mandate will be given to the Joint Management Committee to appoint a suitable External Licensed Auditor to carry out an independent auditing of the annual accounts of the Joint Management Body for the financial period 1 April 2009 to 31 March 2010.

4) RESOLUTION 4 : Audited Annual Accounts of Building Maintenance Account and

Building Maintenance Fund for Desa Putra Condominium

It was resolved by DPCJMB to give full mandate to the Committee to take all necessary actions including legal proceedings against the Developer to obtain the audited annual accounts for the Building Maintenance Account during the whole of the Developer’s period prior to 6 April 2008 and the audited annual account and its source documents for the Building Maintenance Fund under Joint Management Body’s period from 6 April 2008 to 31 July 2008.

AND THAT, DPCJMB resolved that upon the receipt of the said financial statements and the source documents, the Committee is given full mandate to take all necessary actions to carry out a due diligence including appointing a suitable auditor for such due diligence exercise of the said audited annual accounts for the whole or part of the period wherever deemed necessary.

AND FURTHER THAT the DPCJMB resolved that the Committee will convene a General Meeting to present the findings of the above mentioned due diligence of the said audited accounts, including making appropriate recommendation to the Joint Management Body with regards to the adoption of the said audited account for Building Maintenance Fund or otherwise.

21 JULY 2009

THE 2^ND ANNUAL GENERAL MEETING (AGM) OF DESA PUTRA CONDOMINIUM JOINT MANAGEMENT BODY HELD ON 4 JULY 2009

5) Resolution 5 : Revision of Building Maintenance Fund

DPCJMB resolved that the Building Maintenance Fund will be revised from RM0.15 psf/month to RM0.20 psf/month with effect from 1 October 2009 as a contribution to the Building Maintenance Fund of Desa Putra to meet the administrative and maintenance expenses as may be incurred for the purposes of controlling, managing, administering and maintenance/repairing of the common property excluding other separate recoverable items (water charges, quit rent, insurance premium, late payment interest, etc).

AND THAT the monthly contributions for the Building Maintenance Fund shall be paid in full by every purchaser without any form of deduction whatsoever unless the intended deduction had been approved in writing by the Desa Putra Joint Management Committee.

6) Resolution 6 : Revision of Sinking Fund

DPCJMB resolved that the Sinking Fund will be revised from RM0.015 psf/month to RM0.020 psf/month with effect from 1 October 2009 as a contribution to the Building Maintenance Fund of Desa Putra for the purposes of meeting its actual or expected liabilities in respect of the following matters:-

(i) the painting or repainting of any part of the common property;

(ii) the acquisition of any movable property for use in relation to the common property;

(iii) the renewal or replacement of any fixture or fitting comprised in any common property; or

(iv) any other expenditure as the Committee deems necessary.

AND THAT the monthly contributions for the Sinking Fund shall be paid in full by every purchaser without any form of deduction whatsoever unless the intended deduction had been approved in writing by the Desa Putra Joint Management Committee.

7) Resolution 7 : Proposed Building Repainting Fund

The proposed building repainting fund had been declined by the DPCJMB.

8) Resolution 8 : Proposed Adoption of the set of Updated & Revised House Rules

DPCJMB resolved to adopt the set of updated and revised House Rules with immediate effect for regulating

the control, management, administration, use and enjoyment of Desa Putra Condominium. The said set of

updated and revised House Rules shall supersede the existing house rules with immediate effect.

9) Resolution 9 : Election of Joint Management Committee

All the incumbent committee together with two (2) new owners i.e. Encik Mohd Muzamir Bin Mohamad Radzi and Encik Syaiful Annuar Bin Zahari had been elected on an en-bloc basis to form the JMC of DPCJMB for the new term until the next Annual General Meeting. The Joint Management Committee members are as follows:

(a) Stephen Lim Wooi Beng (g) Tuan Haji Abbas Bin Ibrahim

(b) Needthistime Klinparm (h) Lilian Quah Yew Sie

(d) Abbas F. Mahmud (j) Mohd Muzamir Bin Mohamad Radzi

(e) Abu Bakar Bin Ariffin (k) Yip Foo Wah (Developer’s representative)

(f) Surinder Singh a/l Jeswant Singh

Thank you.

The Management

For and on behalf of the Committee of Desa Putra Condominium JMB

c.c. 1) Desa Putra Condominium JMC – Committee Chairman

2) Burgess Rawson – Ms Low Siang Fong, Asset Manager

The AGM started off at about 10.30am, with about 28 owners (qualified - those who pay all fees up to 30th June, 2009), another 30 persons are observers.
The meeting ended at about 3pm, with various resolutions passed. There were many questions asked about the expenses spent and fees charged by the management company due to lack of information on these.

Among the resolution passed during AGM were:-
1. Maintenance fees increased from 15 cents to 20 cents (psf), 22 cents as proposed by Management was rejected.
2. Sinking fund is 2 cents (10% of maintenance fees) psf
Also resolved that any capital expenditure above RM50k in a single project, must be approved by JMB (AGM/EGM).
3. Building repainting funds of 25 cent psf was rejected
4. Amended house rules were passed.

New JMC are elected with 2 new member and others are from previous JMC total 10 members.

With 20 cents psf of maintenance fees, the income/revenue will be about RM112k, if add-in the other commercial income, we will exceed RM120k income per month. The JMB (AGM) also asked JMC and Management to keep the monthly expenses below RM110k, and manage the funds more efficiently, effectively, transparently and act on complaints promptly.