Latest & Last Update 2007.8.31

Kindly be advised that the Bedok Court En bloc Sale Committee was elected on the 11th August 2007 EOGM.

With immediate effect, please log on to : www.bedokct.blogspot.com for the further information.

Thank you very much for your kind support and strong mandate at the EOGM

With best regards
Heng Hock Heng
On behalf of the Pro-tem Sales Committee

EOGM 11 August 2007 Meeting Report

EOGM 11 August 2007 Meeting Report
(Date: 2007.08.11)

2.1 To proceed with the collective sale of Bedok Court Condominium (MCST 1130)
For: 677 share value, Against: 131 share value. Motion passed

2.2 To invite subsidiary proprietor to form a sales committee for purposes of collective sale
The Sales Committee of 9 members is formed. The members are:

• Allen Walters (Blk.295)
• Laurence Pang (Blk.299)
• Freddie Khoo (Blk.299)
• Ghalid Awang (Blk.297)
• K.Tanapalan (Blk.297)
• Walklin Russell (Blk.295)
• Heng Hock Heng (Blk.295)
• Paul Lim (Blk.295)
• Cheng Ah Lian (Blk.299)

2.3 To consider the appointment of the solicitors & marketing agents for the collective sale by the sales Committee subject to the terms of the Collective Sale Agreement: Motion unanimously passed

2.4 To allow the Sales Committee access & usage, without charge of the available MCST 1130 facilities limited to the Function Room & Board Room solely for the purpose of collective sale: Motion unanimously passed.

Thank you for your strong support

29th July SP No.2 Meeting Report

Collective Sale Meeting Report

(date: 2007.7.31)

1. The number of attendees for the English Presentation held at 2:00pm and 3:30pm was 140 pax and 70 pax respectively. The number of attendees for the Chinese Presentation at 5:00pm was 52 pax. Thus, the total number of attendees is 262.
2. Mr. Daniel Ong of Dennis Wee Realty gave a detailed marketing presentation for the collective sale. The presentation includes the following: The Collective Sale Process, Scope of Services, Residual Land Value of Bedok Court, Sale Proceed Method of Apportionment, Competitive Market Analysis, Mode of Sale, Project Time line, Marketing Plan.
3. Mr. Kenneth Tan of Asia Law Corporation and Mr. Troy Yeo of Dominion LLC were also present to answer to inquiries on legal matters on the collective sale.
4. The potential collective sale prices are as follow: StudioUnit==S$1.00M~$1.04M, 2bedroomsUnit==S$1.41M~ $1.48M, 3BedroomsUnit==S$1.77M~ $1.92M, PenthouseUnit==S$3.79 ~$4.08M.

REMINDER:

1. The Pro-tem Sales Committee would like to remind all SPs that the EOGM for Collective Sale of Bedok Court is on 11th August 2007, to start at 10:00am, venue: Bedok View Secondary School, 4th Floor AV Auditorium. This EGOM could be cancelled by the Managing Agent, if there is less than 395 Share Values present at 10:00am on 11th August. Also, all outstanding contributions including interest must be settled at least 3 days before commencement of the EOGM to secure the eligibility to vote.
2. Kindly give your proxy form to the pro-tem sales committee members if you support the collective sale and is unable to attend the meeting on time. Every Share Value counts. Telephone: Allen Walters(96177724), Christine Teo(96711496), Freddie Khoo(90287277), Ghalid Awang(92289228), Heng Hock Heng(+65 90070072), K. Tanapalan(98716989), Laurence Pang(96628340), Walklin Russell(97922369)

SP Meeting No.2 Notice

Bedok Court Collective Sale
www.bedokcourtenbloc.blogspot.com
(Date: 2007.7.24)

You are cordially invited to attend the Bedok Court Subsidiary Proprietors Meeting no. 2

Date: 29th July 2007

Venue: Block 295 Function Room

Time:
(1) 2:00 to 3:30 pm (English)
(2) 3:30 to 5:00 pm (English)
(3) 5:00 to 6:30 pm (Mandarin)

Proposed Meeting Agenda:
•Update on Collective Sale matters (5 minutes)
•Marketing Presentation by a marketing agency (25 minutes)
•Collective Sale Agreement Presentation by a law firm (20 minutes)
•Q. & A. Session (30 minutes)
•EOGM Matters (10 minutes)

Kindly register your attendance at the Block 295 Function Room main entrance to collect a sample collective sale agreement and en-bloc marketing information



勿洛阁集体出售屋主会议
日期: 七月二十九日
地点: 大牌295
时间: 下午五点至六点半 (华语讲解 )

EOGM for Collective Sale: 11 Aug 2007

EOGM for Bedok Court Collective Sale

(Date: 2007/7/19)


Meeting date: 11 August 2007, SAT.

Time: 10:00 am

Venue: Bedok View Secondary School

4th Floor, Theatrette Room

6 Bedok South Ave 3

Singapore 469293

The above was confirmed on 18 July 2007 by the Management Council

Kindly be advised that a minimum of 30% Share Value must be present (in person or by proxy) by 10:00 am sharp, otherwise, the Managing Agent will call off the meeting as provided for in the bye-laws of the Strata Title Act. Do come early.

Please contact the listed Pro-Sales Committee members below if you need any assistance or want to submit a proxy form on your behalf. Every "YES" vote is essential towards the success of this Collective Sale. Please relay this message to your neighbours.

Block 295:
Mr. Allan Walters 9617 7724
Ms Christine Teo 9671 1496
Mr. Heng Hock Heng 9815 2815

Block 297:
Mr. Ghalid Awang 9228 9228
Mr. K. Tanapalan 9871 6989
Mr. Heng Hock Heng 9815 2815

Block 299:
Mr. Freddie Khoo 9028 7277
Mr. Laurence Pang 9662 8340

Thank you

Pro-tem Sales Committee

Why en-bloc now?

Why Bedok Court should en-bloc now ?
(Date: 2007.7.17)


(A) RESERVED PRICE

• The sale proceeds from the Reserved Price is acceptable, any extra will be a bonus

(B) TIMING

• The present property market is HOT now
• The Developers are also eyeing competing en-bloc projects (Neptune Court, Lagoon View, Laguna Park, The Summit) and might secure sufficient land bank soon
• Will we miss this 2nd En-bloc opportunity?
• Can I afford to wait for the 3rd En-bloc opportunity? When?

(C) Government Comment /Action

• The rent in Singapore must be lower than Hong Kong
• The vacant site beside Tanah Merah Kechil Ave
• The vacant site beside Bedok Court

(D) Major Works in Bedok Court

• In 2007~2010, the lifts upgrading program would cost $700,000.00 (estimate)
• In 2008~2009, the building painting would cost $880,000.00 (estimate)

Hence, the Management fund & Sinking fund contribution from the SPs cannot remains at present amount

(E) Major Works near Bedok Court

• In 2007, HDB block 46 Bedok South Ave.3 was demolished
• In 2009, HDB block 47, 48, 49 & 50 will be demolished, confirmed by HDB Bedok Office
• From 2010 to 2012, will there be any major construction on the vacant HDB land ?
• New condominiums coming soon & nearer to Tanah Merah MRT Station

WHAT ARE YOUR REASONS FOR EN-BLOC?

Give your comments, with name or initial, block & unit no.

12th July Meeting Report

Collective Sale Meeting Report
(date: 2007.7.13)

1. The informal collective sale discussion meeting started at 8:05pm.
2. More than 140 Subsidiary Proprietors (SPs) attended the meeting.
3. 96 Subsidiary Proprietors (SPs) signed on the petition forms asking the MCST to convence an Extra Ordinary General Meeting (EOGM) to seek consensus from all the Bedok Court SPs to proceed with the Collective Sale of Bedok Court Condominium and to elect Sales Committee members for the Collective Sale.
4. The petitions for EOGM were submitted to the Bedok Court Managing Agent (M.A.) on 13th July 2007.
5. The tentative date for EOGM is on Saturday, 4th August 2007, commencing 10:00am. (According to the Strata Title Board, a minimum of 30% share value must be present by 10:00am on the day of the EOGM failing which the M.A. can immediately call-off the meeting due to insufficient quorum.)
6. Thanks to the Solicitors from Asia Law Corporation (Mr. Kenneth Tan) & Dominion LLC (Mr. Troy Yeo) and Marketing Consultants (Mr. Daniel Ong & Lionel Ng) of Dennis Wee Realty for addressing the inquiries from the SPs on the collective sale matters on a voluntary & without obilgation basis.
7. The pro-tem sales committee would like to expressed their heartfelt thanks to all SPs for your kind attendance and support for the collective sale and also to apologise for the weak audio system and insufficient chairs despite having 100 chairs provided.

Thank you

We look forward to your continuous support and encouragement

Heng 295#09-01 On behalf of the pro-tem sales committee

SP Meeting No.1 Notice

Bedok Court Collective Sale
http://www.bedokcourtenbloc.blogspot.com/

Subsidiary Proprietors Meeting No. 1
Date: 12 July 2007. Thursday
Time: 8:00 pm
Place: Block 295, Function Room

What is the potential?
Studio ~ $970 K
2 BR ~ $1.3 M
3 BR ~ $ 1.78 M

We need your SUPPORT !

PROPOSED ACTIVITIES SCHEDULE

KEY ACTIVITIES TIME SCHEDULE
(last update: 7/7/2007)


The targeted time schedule is as follow:

1. June 2007 Form Pro-tem Sales Committee for en-bloc sale
2. June 2007 Assessment of en-bloc viability
3. June 2007 Conduct survey on Subsidiary Proprietors (SPs) intention
4. July 2007 Hold SPs meeting to discuss en-bloc sale (12 July 2007)

Outstanding activities:

1. July 2007 Presentation from a Prospective Marketing Agency=29 July
2. July 2007 Presentation from a Prospective Law Firm=29 July
3. Aug. 2007 Form Sales Committee at EOGM=11 August
4. Aug.2007 Appoint Solicitors & Marketing Agents=14 August
5. July 2007 Draft Collective Sale Agreement (CSA)=29 July
6. Aug 2007 Hold SPs meeting for CSA Presentation=11 August
7. Aug 2007 Hold SPs meeting for Marketing Presentation=11 August
8. Aug 2007 Signing CSA=18 August
9. Oct 2007 Achieve 51% signatures for CSA
10. Oct 2007 Marketing through "Expression of interest"
11. Nov 2007 Achieve 80% signatures for CSA
12. Dec 2007 Launch Public Tender / Private treaty
13. Jan 2008 Tender close
14. Feb 2008 Confirmation of Purchaser
15. Mar 2008 Deposit from Purchaser (5% of sale proceeds)
16. Mar 2008 Apply to Strata Title Board (STB), if 100% consensus is not obtained
17. July 2008 Legal Completion of sale (90% of sale proceeds), assume no objection
18. July 2008 Start Rent free period for 3~6 months
19. Jan 2009 Vacant Possession to Purchaser (Balance 10%)
20. Feb 2009 Dissolution of MCST 1130

ADVOCATES & SOLICITORS

DRAFT COPY: comments are welcome, 5/7/2007


SOLICITOR'S SCOPE OF WORK:

1. To advise Subsidiary Proprietors (SPs) on legal aspects of the Collective Sale
2. To advise on the terms and conditions on the appointment of the Marketing Agents
3. To liaise with the marketing agents, pro-tem sales committee and the Sales Committee on all matters relating to the collective sale
4. Preparation of the “Collective Sale Agreement"
5. Attending to the execution of the Collective Sale Agreement
6. Preparation of the Tender Document
7. Conducting land office searches and bankruptcy searches
8. Liaising with the discharging mortgagees / chargees in the discharge of the encumbrances in respect of the units
9. Liaising with solicitors of the successful buyer on the matters relating to the collective sale
10. Preparation of the letters to the Commissioner of Stamp Duties and the completion account in the event of a successful sale
11. Attending to the execution of the Transfers by the SPs and the completion of the collective sale
12. If Strata Title Board (STB) Order is required for the collective sale, to prepare all such documents as shall be required for the advertisements and submission of STB Application and to represent the Majority SPs in the STB proceedings and hearings and all matters arising therefrom
13. If the SP has an existing tenancy on his unit, to render assistance and advice to such SP should he require to give the tenant notice of termination of tenancy
14. To furnish to each SP a completion account exclusively for his unit and to pay the net sale proceeds due to him thereunder within three (3) working days from the date of legal completion of the collective sale
15. To pay to each SP his unit’s retention sum and fixed deposit interest thereon within three (3) working days from the date of delivery of his unit to the purchaser
16. Generally to act with due diligence and to carry out all such legal conveyance works as shall be required for the completion of the collective sale.
    

SOLE MARKETING AGENT

DRAFT COPY: seeking for comment, 2007.7.5

Sole Marketing Agent: (1) SERVICES:

As the Sole Marketing Agent, to provide advice and assistance to the following:

1.1 PRELIMINARY STAGE

• Answer queries on collective sale matters
• Provide indicative land price and regular updates / reviews
• Provide advisory service on best terms and conditions of sale, and the sale apportionment method
• Assist in the appointment of a competent solicitor and advice on legal fee quantum
• Assist in the drafting of the Collective Sales Agreement
• Conduct survey to determine Bedok Court Subsidiary Proprietors’(SPs) response to collective sale
• Confirm the feasibility of the Collective Sale of Bedok Court Condominium

1.2 CONFIRMATION STAGE

• Assist the lawyers to conduct presentation to explain the terms and conditions of Collective Sales Agreement to all Bedok Court Subsidiary Proprietors.
• Review indicative land price and recommend the Reserved Price, the sale apportionment method
• Secure the SPs consent to the collective sale and arrange the signing of the collective sales agreement
• Seek to understand the minority SPs concern and suggest ways to address them
• Encourage the minority SPs to participate in the collective sale
• Not to caused discomfort to SP whom is adamant not to join in the collective sale
• Secure the 80% consent in the shortest possible time

1.3 MARKETING STAGE

• Aggressively market the property in Singapore and internationally, to maximize the sale price
• Prepare property particulars to be sent to potential buyers
• Assist the lawyers in the legal documentation
• Co-ordinate the media advertising campaign
• Personally contact selected developers and investors, both domestic and regionally.

1.4 AWARD OF SALE

• Analyse the offers and explain the terms and conditions of the sale
• Advise on the best offer
• Assist in both the relocation and re-investment plan, if necessary

1.5 APPLICATION TO STRATA TITLE BOARD (STB)

• Assist the lawyer in the application to the STB
• Provide professional opinion, if required, to the STB

Activity Report

Bedok Court Collective Sale Activity Report

(SPs: Subsidiary Proprietors, BCPTM: Bedok Court Pro-tem members, EOGM: Extra Ordinary General Meeting)

(last update: 31/7/2007)

2007.7.29

The SPs No.2 Meeting was attended by 262 pax. Presentations were conducted in English and Chinese. On a voluntary basis, Dennis Wee Realty, Asia Law Corp. & Dominion LLC were present to provide support to the pro-tem sales committee on the collective sale matters.

2007.7.18

The Pro-tem Sales Committee attended the Bedok Court Management Council meeting to observe the Management Council discussion on the EOGM petition.

The Management Council confirmed that the EOGM for collective sale matters will be held on 11 August 2007, start at 10:00am, on the Bedok View Secondary School premises.

2007.7.13

The Pro-tem Sales Committee submitted the EOGM petitions to the Managing Agent (Ms Mary of Jones Lang LaSalle) of Bedok Court.

2007.7.12

• At 8:08 pm, the SPs attendance for the meeting exceeded 140.
• 96 SPs signed on the petitions asking MCST 1130 to hold EOGM to seek SPs consensus to proceed with the Collective Sale of Bedok Court, to elect the Sales Committee, to authorise the Sales Committee to appoints the Marketing Agents and Solicitors for collective sale matters, to allow the Sales Committee access to the facilities, at no charge.
• The prospective Marketing Agents & Solicitors were present to give more information on the collective sale matters.
• 3 pages of handout(En-bloc Sale Sequence of Events, Sale Proceeds Approtionment Schedule & Estimated Time Line) were distributed to more than 140 SPs.

2007.7.12

In the afternoon, the blog comment moderation was turn OFF.

2007.7.7

Meeting notices were put into all letter boxes in Blocks 295, 297, 299

2007.7.6

After much brainstorming and deliberation, BCPTM decided to bring forward the meeting with SPs to 12th July 2007, 8:00pm to 10:00pm, Block 295 Function Room.

The meeting objectives are:

1. To keep the SPs posted on the progress of the Collective Sale
2. To facilitate direct communication between SPs, prospective Solicitors and prospective Marketing Agents.
3. To encourage more SPs to join the Pro-tem Sales Committee and to formalise the Sales Committee
   

2007.7.6

BCPTM met with Mr. Kenneth Tan of Asia Law Corporation and Mr. Troy Yeo of Dominion LLC. Kenneth gave a very detailed presentation on the following:

1. Procedures for a successful en-bloc sale,
2. the legal aspect of the Collective Sale Agreement,
3. duties of the Sales Committee,
4. method of apportionment for the sale proceeds
5. the services and conditions of appointment of Solicitors and Marketing Agents.

2007.7.3
Savills Singapore declined to submit bid for Bedok Court Condominium Collective Sale. Savills is working on a few Collective Sale projects now and is unable assist.

2007.7.3
BCPTM booked the Function Room at Blk 295 on 21st July 2007 from 2.00pm to 5.00pm for SP meeting to discuss on Bedok Court Condominium Collective Sale.

2007.7.3
BCPTM sent Collective Sale Bid documents to 6 established marketing agencies. They are: (1)Savills, (2) Credo Real Estate (S) Pte Ltd, (3) Dennis Wee Realty Pte Ltd, (4) Colliers International, (5) CB Richard Ellis (Pte) Ltd, (6) DTZ Property.

2007.7.2
Heng met with David Nar to exchange information on the Collective Sale status. After having better understanding on the Collective Sale progress, David agreed to discuss the details with MCST 1130 Council Members.

2007.7.2
BCPTM have received very supportive comments from more than 20 SP from their personal survey and all BCPTM members agreed to proceed directly to ask 6 established marketing agencies for their best proposal because TIME is of ESSENCE, besides PRICE.

2007.6.30
Heng called Bedok Court Management Council(MCST) David Nar to appeal for the survey collection box to be placed at the Security post or to use the empty letter boxes at the respective blocks. David will check with other MCST council members.

2007.6.28
Bedok Court MCST do not allow BCPTM to place a survey collection box at Security Post

2007.6.24
DW agreed with BCPTM proposal to further increase the Reserved price to $4YY million based on improved market sentiment, newspaper report about the proposal to built Budget Hotel & Mall at UNSW Simei site and future market trend forecast. DW gave more helpful assistance and guidance to BCPTM on the process for the Collective Sale project.

2007.6.23
DW agreed with BCPTM proposal to increase the Reserved price to $4XX million based on improved market sentiment. DW gave more helpful assistance and guidance to BCPTM on the process for the Collective Sale project.

2007.6.11
Wee Sing An of CREDO had a very brief discussion with BCPTM on the feasibility of Collective Sale project for Bedok Court Condo 　

2007.6.23
DW agreed with BCPTM proposal to increase the Reserved price to $4XX million based on improved market sentiment. DW gave more helpful assistance and guidance to BCPTM on the process for the Collective Sale project.

Heng called Colliers International (CI) and liaised with Miss Lucy of CI and had faxed the Bedok Court Condo details to Tay Liam Hiap for CI assistance for the Bedok Court Condominium Collective sale. No response from CI yet.

2007.6.20
BCPTM discussed with Charles Hoon & Bernard Goh of CB Richard Ellis on the feasibility of Collective Sale project for Bedok Court Condo. Charles stressed that Time is of essence for the Collective Sale project to be successful due to present HOT market for residential properties & impending regulation amendments, also at what price will the Subsidiary Proprietors (SP) be willing to do the Collective Sale.


Numerous attempts were made by Heng to contact Steven Tan of Knight Frank Investment, but to no avail. 　

Numerous attempts were made by Heng & Tanapalan to request Miss Swee Shou Fern of DTZ for meeting but the timing is not right. Tanapalan & Heng will continue to liaise with Miss Swee Shou Fern.

2007.6.7
At 11.10am, Heng called Mark Yuen-Associate Director of Chesterton International (CHI) . Mark politely declined to discuss with BCPTM Collective Sale project as CHI has too much workload on hand


2007.6.7
At 11.00am, Heng called Steven Ming of Savills. Steven declined to meet with BCPTM for the Collective Sale because Savills prefer to focus in the Prime District.

2007.6.6
First Pro-tem meeting, Bedok Court Collective Sale Pro-tem members (BCPTM) are Allen Walters, Freddie Khoo, Heng Hock Heng, K.Tanapalan. BCPTM members met with Daniel Ong of Dennis Wee Realty (DW). Daniel gave a very detailed explanation on the "Collective Sale" procedure to Pro-tem members & the 1st proposed Reserve Price is $354.1 million

Marketing Agent: Bid 3/3

Bid Document No. 3/3

Bedok Court Condominium
Apt. Type Unit Size (Sq M) No.of Unit Share Value Total S. Value Total Area (Sq.M)
1A 103 2 3 6 206
1B 109 16 3 48 1744
1C 111 17 3 51 1887
2A 153 2 4 8 306
2B 161 16 4 64 2576
2C 169 1 4 4 169
2D 179 16 4 64 2864
3A 193 5 5 25 965
3B 210 22 5 110 4620
3C 211 74 5 370 1 5614
3D 213 20 5 100 4260
3E 224 75 5 375 16800
3F 229 4 5 20 916
P1 577 9 7 63 5193
P2 645 1 7 7 645
Total 280 Unit 1315 Share Value 58765 Sq.M

Marketing Agent: Bid 2/3

Bid Document No.2/3

Bedok Court Condominium
1.Property Address : 295,297,299 Bedok South Avenue 3
2.Legal Description : MK27-5955T
3.Site Area : 34,242.9sqm (368,590sq ft)
4.Master Plan 2003 : 2.1 plot ratio maximum gross
5.Master Plan 2003 Zoning : Residential
6.Height Restriction : 24 Storey
7.Land Tenure : 99 years lease w.e.f.10th April 1982
8.Lease Expiry Date : 9th April 2082
9.Lease Balance : 74 years
10.Approved Development Type : Condominium
11.Existing Strata Floor Area : 58,765 sqm
12.Estimated Gross Floor Area : 71,910 sqm
13.Existing Plot Ratio : 1.717
14.Estimated Distance to MRT Station : 400 m, Tanah Merah Station
15.Estimated Development Charge : S$3.6 million
16.Estimated Top-up Premium: S$30.3 million
17.Proposed Value :?, Include Top-up & Development Charge
18.Proposed Reserve Price:?, Exclude Top-up & Development Charge
19.Existing Building : Blk 295=19,17,15 storey, Blk 297= 12 storey, Blk 299= 4 storey
20.Facilities : 24 hr security, tennis, squash, gym, swimming pools,ample car park lots
21.Amendities : Esteemed Primary, Secondary schools & JCs, Markets, public buses, MRT

Marketing Agent:Bid 1/3

Bid Document No.1/3

Request to Sole Marketing Partner to submit the following:　
General Requirements
1 Company En-bloc Reference List
2 En-bloc project leader & members namelist
3 Company marketing plan & activities schedule
4 List of recommended lawyers & Fee level
5 List of potential developers
6 Recommendation on sales proceeds Apportionment Method
7 Terms of Exclusive Sole Marketing Agreement (SMA), duration of SMA, Key Performance indicators and SMA break clause.
8 Collective Sales Agreement sample & useful comments
9 Proposed Value
10 Proposed Reserved Price
11 Proposed Sole Marketing Partner Fee,as a percentage of proposed value

Pro-tem Sales Committee

Bedok Court Collective Sale
Pro-tem Sales Committee

(last update: 2007.8.01)

2007.7.29
We welcome on board Mr. Walklin Russell Douglas (Blk.295) to the Pro-tem Sales Committee

2007.7.10
We welcome on board another 2 members to the Pro-tem Sales Committee

1. Ms Christine Teo accpl@singnet.com.sg Blk 295
2. Mr. Phillip Mah phillip_mah@cass.gov.sg Blk 295

2007.7.6
We welcome on board 2 new members to the Pro-tem Sales Committee

1. Mr.Laurence Pang laupkt@singnet.com.sg Blk 299
2. Mr. Ghalid Awang g_awang@yahoo.com Blk 297

Established: 2007.6.6
Member name list:
1. Mr. Allen Walters walters.arw@gmail.com BlK 295
2. Mr. Freddie Khoo fstkhoo@yahoo.com.sg Blk 299
3. Mr. Heng Hock Heng heng232@pacific.net.sg Blk 295
4. Mr. K. Tanapalan palan_1927@yahoo.com.sg Blk 297

All Bedok Court Condominium Subsidiary Proprietors are welcome to join the Pro-tem Sales Committee.
Please write to any of the above member.