Minutes of meeting held between PPKASTURI2 and LYL

Present

1              MPKj       Y.Bhg Ng Tien Chee (ENTC)                   Councillor

2              PPKASTURI2       Loke See Seong (LSSE)                   Chairman

3              PPKASTURI2       Lee Yew Kuen (ALYK)                     Vice-Chairman

4              PPKASTURI2       Chandran V (CHAV)                        Secretary

 5             PPKASTURI2       Kwa See Eng (JKSE)                         Asst. Secretary

6              PPKASTURI2       Foo Loke Yean (JFLY)                      Treasurer

7              PPKASTURI2       Ng Chin Poh (DNCP)                       Committee Member

8              PPKASTURI2       Foo Weng Keong (EFWK)             Committee Member

9              LYL Group            Dato Lim Yew Loong (DLYL)          Proprietor

10           LYL Group            Loo Shen Chang (LSCH)                 Chief Operating Officer

11           LYL Group            See Toh Kam Yeap (STKY)             Project Director

12           LYL Group            Observers (3)                                    Representatives of LYL  Group

1. The meeting started with CHAV welcoming and thanking ENTC, DLYL as well as other members present. Subsequently CHAV requested ENTC to chair the meeting. ENTC accepted the request and declared the meeting open and highlighted on the notification by PPKASTURI2 to manage and operate the Guarded Community Scheme (GCS) at Taman Segar Perdana – Kasturi 2. Thereafter ENTC requested DLYL to begin discussion.
2. DLYL briefed on the status of management of GCS by TSP Management Sdn. Bhd. at KASTURI2 and problems encountered by LYL Group on the management of GCS at KASTURI2. DLYL is aware of PPKASTURI2’s intention and expressed his willingness to allow PPKASTURI2 to manage and operate the GCS at KASTURI2. DLYL highlighted that he is very concerned about his on-going ROYALE project and therefore insist that there should NOT be any form hindrance to the traffic flow especially registration of vehicle at the main entrance by withholding the IC or driving license and proposed that one of LYL Group guard (under LYL Group’s payroll) to be stationed from 7am to 7pm together with PPKASTURI2 guards on duty. DLYL also expressed that he will be very comfortable with a letter of undertaking from PPKASTURI2 that LYL Group is free from any liabilities that may arise out of disputes specifically in relation to GCS at KASTURI2. DLYL immediately extended a copy of undertaking letter that PPKASTURI2 should sign and return. PPKASTURI2 queried that there are two letters, LSCH replied that the first letter is a letter of discharge to be signed by the purchaser to discharge LYL Group from any liabilities in relation to the Deed of Mutual Covenant and the second letter is the letter of undertaking to be signed by PPKASTURI2. DNCP suggested that PPKASTURI2 should go through the letters and provide feedback to LYL Group. For this CHAV proposed that he and LSCH should communicate via email and finalize on the content of the letters before allowing all parties to sign.
3. DLYL mentioned that upon signing of the letter of undertaking by PPKASTURI2, LYL Group will issue a notification letter to all purchasers of KASTURI2 and inform that PPKASTURI2 will be the legitimate GCS manager and operator with effect from April 1st, 2011 and therefore all purchasers should liaise with PPKASTURI2 on the GCS. Together with the letter of notification LYL Group will also attached the letter of discharge for the purchaser to sign and return to LYL Group. DLYL assured that PPKASTURI2 can proceed with the implementation of GCS at KASTURI2 as scheduled on April 1st, 2011 and not necessarily have to wait for all the signed letter of discharge to return to LYL Group.
4. DLYL proposed that PPKASTURI2 manage and operate the GCS with effect from April 15th, 2011 as LYL Group must provide 30 days notice to the existing service provider, LSSE mentioned that PPKASTURI2 has already planned a launching ceremony on or before April 3rd, 2011 however LSSE will coordinate accordingly with LYL Group on the cutoff date and placement of LYL Group guard at the guardhouse as requested by DLYL.
5. DLYL highlighted that there is fifty two thousand ringgit (RM52k) placed as deposits by the purchasers of KASTURI2 with LYL Group and another one hundred thousand plus ringgit (RM100k+) owed to LYL Group by the purchasers of KASTURI2. DLYL expressed his willingness to allow PPKASTURI2 to collect and retain the net outstanding balance from the purchasers of KASTURI2 after deducting the deposits paid to LYL Group. However JFLY requested that LYL Group provide the latest accounts of the figures mentioned by DLYL in order for PPKASTURI2 to make a decision on the proposal by DLYL. LSCH agreed to provide JFLY the latest accounts upon signing of the letter of undertaking by PPKASTURI2. Further DLYL suggested that PPKASTURI2 should also manage and operate the GCS at The Royale upon successful completion of the project. CHAV replied that LSCH to provide a proposal on the suggestion by DLYL for PPKASTURI2 to consider.
6. LSSE requested that LYL Group transfer the water and electricity accounts for the guardhouse maintained by LYL Group to PPKASTURI2 accordingly. STKY agreed to transfer or terminate the respective accounts accordingly. Also LSSE requested that the boom-gate to be retained with a functional CCTV, clocking system and related GCS assets to be transferred to PPKASTURI2 accordingly. DLYL agreed to provide the boom-gate and also repair the CCTV before giving it to PPKASTURI2 and transfer the other assets necessary to manage and operate the GCS. However DLYL stressed that he will not provide the patrolling motorbike. LSSE thanked DLYL for his generosity.
7. DLYL also notified that LYL Group is in the midst of erecting proper road signage that can lead all vehicles including from the authorities such as Jabatan Bomba to easily identify and enter into the KASTURI2 as well as to the entire Taman Segar Perdana.
8. DLYL highlighted that he is always willing to work with PPKASTURI2 as its members are also his purchasers cum customers and  never wish to have bad publicity at all times. DLYL also indicated that LYL Group may contribute financially to PPKASTURI2’s gathering such as New Year party and Moon Cake festival in the near future.
9. With no further business for the day ENTC summarized on what transpired during meeting as follows:

• PPKASTURI2 will revert to LYL Group on the final letter of undertaking and sign subsequently.
• LYL Group will notify all purchasers of the implementation of GCS by PPKASTURI2 and also request the purchaser to sign and return the letter of discharge.
• LYL Group will provide the latest accounts for PPKASTURI2’s consideration.
• LYL Group will transfer the GCS related assets to PPKASTURI2 accordingly.

 and declared the meeting closed at 3.30pm