Privatization of Hougang Avenue 2 HUDC

Resident’s BriefingNovember 20th, 2010

http://hougangave2hudc.wordpress.com./

Meeting Agenda 3.15pm      Arrival of Residents & Registration

3.30pm      Recap the chain of events

4.00pm      Introduction of Protem Committee Members

4.10pm      Rationale for Privatization & Update on Status

4.30pm      Legal Process & Timeline

4.50pm      Q & A

5.10pm      Closing Remarks

Safeguarding, Enhancing & Improving Our Quality of Life Through Privatisation

• 30th July 2010 - HDB Letter to Residents – Privatization Offer

• 21 August 2010 - HDB conducted a dialogue session and briefed our residents on the scheme offered to privatize our HUDC estate.

25 residents from all our blocks had volunteered and formed a Protem Committee and a Sub-committee to garner support for the privatization.

• 20th September 2010 – Protem Committee presented to residents the assessment and considerations .

• 13th November 2010 – Protem Committee has issued you a Newsletter on today’s briefing session.

Privatization of Hougang Avenue 2 HUDC

Protem CommitteeS/N Name

Protem Committee Block Unit No

1 Winston Chong Chairman 713 02-295

2 Ronnie Ho Vice-Chairman 719 12-323

3 Yik King Choy Secretary 716 08-373

5 Jessie Chung Treasurer 719 02-333

4 Murali Member 714 04-305

6 Doris Sum Member 715 02-347

7 Ian Gay Member 717 03-419

8 Andy Ng Member 715 06-351

9 Tai Tan Yin Member 720 12-391

10 Winston Goh Member 718 02-315

Sub-Committee Members

S/N Name

Protem Committee Block Unit No

1 Chris Lee Member 713 03-303

2 Kedhavani Member 715 12-359

3 Doris Tan Member 715 08-341

4 David Sum Member 715 02-347

5 Abdul Rahim Bin Salleh Member 715 08-359

6 David Ong Member 716 08-363

7 Jaqleen Wee Member 717 03-421

8 Gomes Colin Michael Member 717 03-421

Sub-Committee (cont)

S/N Name

Protem Committee Block Unit No

9 Goh Mui Kheng Member 718 03-315

10 Goh Huang Hin Member 718 03-315

11 Suprakash Gangadharan Member 719 01-319

12 Tan Kok Guan (Paul) Member 719 02-323

13 Ang Cher Twee Member 720 10-389

14 Norman Neo Han Min Member 720 06-383

15 Cho Yun Chyn Member 720 08-395

Evaluation of Privatization

1. Untenable Status Quo

2. Enlarged Market of Potential Buyers

3. Improved Privacy & Security

4. Better Control of Estate

5. Possible Appreciation of Value

6. Discount for Land Purchase

Breakdown of $30k Outlay

Cost of Land $26,000 Legal & Survey Fees $2,000 Construction Works (CSC) $4,000 Total estimated cost $30,000

Estimated market value - $52,200“Use by” date: August 1st, 2013

Volunteers Needed IT support Book-keeping Finance Engineering/ Construction

Process & Timeline

Wendy Wong, Wong Alliance LLP

Legal Fees $405 + GST per unit

Payment Terms: $50 upon signing the Mandate $200 when HDB is ready to sign the

Transfer & the Application Balance fees + disbursements upon

issuance of SSCT.

Abortive cost capped at amount collected at the Mandate Exercise

Process & Timeline Nov ‘10 onwards - Awareness &

education Jan ‘11 – Commence formal

consenting process July ‘11 – Secure mandate Aug ‘11 – Construction works

commences Feb ‘13 – Strata titles issued

TODAY’S EXPENSES

•Banner for the event (est $50 courtesy of Murali)FOC•Rental of tables & chairs, PA equipment (est)$300•Void Deck booking fee $ 66•Police permit FOC

•Total estimated cost $366

Q&A

Safeguarding, Enhancing &

Improving Our Life Quality

Through Privatization