Bidari Ehsan Sdn Bhd (In Liquidation)

Information and update about Bidari Ehsan Sdn Bhd (in Liquidation)

Offer to convert Sibertel Hostel into Apartment/Condominium

Posted on | January 2, 2014 | 4 Comments

Hi all, happy new year to you guys. We wish to inform that we have received an official letter to informed that Ever Land has intention to joint venture together with purchaser of Sibertel Apartment to convert the existing Sibertel Apartment into another type of commercial property. Herewith we enclosed a copy of their letter of offer for your attention. Letter of Offer to Redeveloped Sibertel Apartment

We shall wait for their complete/details of offer and you as purchaser are not bound to accept his offer if you think offer is not meet your expectation. Thanks and cheers.

KBI offers to taking over the management of Sibertel Apartment

Posted on | December 19, 2013 | 1 Comment

We have received an offer letter from Koperasi Belia Islam for taking over management of Sibertel Apartment. Enclosed a copy of the said letter for your attention. Kindly take note that, we are still waiting for their details proposal. Thereafter, we/KBI shall summon a meeting to disclose it and obtain the consent from every purchaser of Sibertel Apartment.

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Liquidator obligation in Developer Shoe

Posted on | September 10, 2013 | No Comments

“In law, a liquidator is the officer appointed when a company goes into winding-up or liquidation who has responsibility for collecting in all of the assets of the company and settling all claims against the company before putting the company into dissolution.” – phrase taken from Wikipedia.org
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Assets of Bidari Ehsan Sdn Bhd (In Liquidation)

Six (6) pieces of empty land (with special conditions) and three (3) units of shop lots and both assets are situated nearby Sibertel Apartment.

Liabilities of Bidari Ehsan Sdn Bhd (In Liquidation)

Section 292 of Companies Act, 1965 – Priority payments

Liquidator obligation in Developer Shoe

Issues in the Company

1) Memorandum of transfer for landed house

2) Application of strata title for Sibertel Apartment

3) 29 of original title were found missing / not in management office

4) short of funds to pay the quit rent and assessment for Company’s assets to apply for duplicate copy of original title from land office

5) Formation of Joint Management Body for Sibertel Apartment

6) Preparation and submission of tax filling (prior to liquidation and during liquidation process)

7) Appointment of property manager

Strategic planning for Reviving of Sibertel Apartment – with assist of Drago Two

As shown in the above “issues in the Company”, Liquidator obligation towards Sibertel Apartment merely for item (2) and (5), during Mr. Sha’s appointment, purchasers meeting was convened and item (5) was put forward, however, it has been turned down by Majlis Perbandaran Kajang (MPKJ). In view of item (5) was turned down, and no JMB was formed, duty will fall back to the Developer aka Liquidator. In view of that, Liquidator has appointed Drago Two to be a property manager to manage the Sibertel Apartment with the conditions that they are not allow to rent/lease/sell the Sibertel Apartment without the consent of purchaser of Sibertel Apartment.

Via letter dated 26 August 2013, Drago Two has sent their second notice to all purchasers of Sibertel Apartment, to collect the maintenance fees, quit rent and insurance premium, and notified that all the while we (Drago Two as well as Liquidator) are still searching for right party to rent the Sibertel Apartment. Upon agreement with the purchasers of Sibertle Apartment, we will further negotiate with the potential tenant to utilize the deposit of rental to renovate or refurbish the Sibertel Apartment.  - Strategic 1

Either way, Liquidator will utilise the remaining funds (proceed from assets against Section 292 and application of Strata Title) with top up funds from purchaser of Sibertel Apartment (if any) to revive back the Sibertel Apartment with the following conditions:-

1) Creditors of the Company has no objection for Liquidator to lend out their dividend to revive back the Sibertel Apartment

2) Purchasers of Sibertel Apartment will undertake to repay back to creditors of the Company after Sibertel was rented out (after refurbishment and renovation) or disposed of to other buyer. - Strategic 2

Another way, utilize the maintenance fees collected from purchasers to perform basic renovation or refurbishment. Based on calculation, RM20 per month for 4655 units x 6 months = RM558 600, if since last year October 2012 until December 2013, we suppose should collected RM20 per month for 4655 units x 15 months = RM1,396,500.  - Strategic 3

Strategic 4 – Liquidator will utilise the remainig funds (proceed from assets against Section 292 and application of Strata Title) with to revive back the Sibertel Apartment with the following conditions:-

1) Creditors of the Company has no objection for Liquidator to lend out their dividend to revive back the Sibertel Apartment

2) Purchasers of Sibertel Apartment will undertake to repay back to creditors of the Company after Sibertel was rented out (after refurbishment and renovation) or disposed of to other buyer.

3) if remaining funds is no enough for whole Sibertel, the Liquidator will select (draw) certain block/plot of land to do the renovation and refurbishment. Thereafter rent out the said block to collect the rental and do renovate for another block/plot of land and keep on doing it until whole Sibertel Apartment fully renovated and rented out.

All 4 strategic plan only third (3) strategic are out at this moments by looking at collection of maintenance fess from Drago Two. If any one of purchaser wish to contribute their strategic to benefit himself or all parties, kindly drop us an email at sas@shatanco.com or leeeh@shatanco.com

 

 

Maintenance Accounts

Posted on | July 17, 2013 | No Comments

Kindly take note that we have opened the following maintenance accounts for purchaser of Sibertel Apartment to pay their maintenance fees, quit rent, insurance and etc.

Maintenance Accounts for Block A – U of Sibertel Apartment Bangi, Kajang

Block A-G
Malayan Banking Berhad a/c no. 514057 663821
Block H-K
Malayan Banking Berhad a/c no. 514057 663838
Block L-O
Malayan Banking Berhad a/c no. 514057 663844
Block P-U
Malayan Banking Berhad a/c no. 514057 663851
Please take note that, if you have make a payments to those account via bank in, kindly contact Drago Two Property Consultancy and request a copy of receipt.

Notification of Appointment of Liquidator

Posted on | May 31, 2013 | No Comments

Dear All Creditors

Notification of Appointment of Liquidator

Attached please find our letter dated 13th May 2013 pertaining to the appointment of AUGUSTINE A/L T.K. JAMES to be a liquidator on March 13, 2013 to replace Mr. Sha Thiam Fook.

Kindly note that there will be a creditors meeting to be held in this coming August 2013 and we will inform you the venue of the said meeting in due course.

Basically, the agenda of the said meeting will be discussed the following matters:-

1) Status Report on the Liquidation for previous Liquidator and existing Liquidator
2) Events that took placed during the period where previous Liquidator in charge and existing Liquidator in charge
3) Previous Liquidator and Existing Liquidator Account Receipt and Payments
4) Other matters related to Bidari Ehsan Sdn Bhd (In Liquidation)
5) Appointment of property manager to manage Sibertel Apartment
6) Other add-on matter.

Please note that you are welcome to add on any other matter we have not mentioned above. If you wish to liaise directly to our Liquidator prior to the above meeting with regards to your own concern i.e. propose any party to act on behalf of you Sibertel Apartment, we shall arrange for the mini meeting to ease your concerns.

Please note that Liquidator will not bias to any single party in performing his duties on Bidari Ehsan Sdn Bhd (In Liquidation).

 

New Liquidator

Posted on | May 13, 2013 | No Comments

Notification of Appointment of Liquidator

We wish to inform that AUGUSTINE A/L T.K. JAMES, (NRIC NO. 570902-10-6061), an approval liquidator be appointed as the Liquidator of The Company to replaced the present Liquidator, the late Mr. SHA THIAM FOOK (NRIC NO. 501102-06-5119), who was appointed pursuant to the Court Order dated 22.9.2011. We hereby attached a copy of Form 70 for your attention.

Liquidator passed away

Posted on | December 19, 2012 | No Comments

We wish to inform that our beloved Mr. Sha Thiam Fook, Liquidator passed away on 4th December 2012.

Our panel of solicitors will advise us in respect of his (Mr. Sha Thiam Fook) duties and responsibilities as Liquidator and course of actions will be taken accordingly.

Meanwhile, all transactions/announcements made prior to 4 December 2012 will be suspended until further notice.

In the meantime, our office will remain the status quo as Liquidator until new Liquidator Appointed.

Liquidator and JMB committee

Posted on | November 27, 2012 | No Comments

There will be a meeting (perjumpaan) between Sha Advisory with the Committe of JMB (elected on 3.3.2012). We will sending out the invitation via SMS. We will further inform you the venue and date. If you have any suggestion on venue of meeting and date and time, we welcome you to post here.

First Step: Maintain Sibertel Apartment

Posted on | November 16, 2012 | 10 Comments

We refer to our last status in this website and wish to inform that our Drago Two has recently send out the letter to all purchasers (batch by batch) to inform our next course of action as Developer (In Liquidation). If you did not receive the said letter, kindly contact Drago Two at 03-87370788 or fax no. at 03-87370789 attention to Mr. Steven. or download sample of Bidari Ehsan – Purchasers 29.10.2012

Maintain Sibertel Apartment

In our letter, has mentioned that every purchaser have to pay maintenance fees for RM20 per month (billing quarterly basis) per unit, quit rent and insurance premium. Please note that this maintenance fees collected is to do landscaping, security guards, cleaning your property and etc. As for quit rent is to prevent your land be consificated by our Land Office and lastly the insurance is against fire on your property.

Please note that, we have received some interested party looking for your property (bulk purchaser), althought there is no official offer price for your property, however, based on our conversation with those party, the offer price based on your property condition, is far below the bank lelong price for each unit. In view of that reason, we need your re-considering to support our suggestion for the above strategy by maintain your place, refurbishment your property, thereafter your choice to sell off your property or our people here will try to looking for tenant for your Apartment.

 

Status of Joint Management Body

Posted on | November 9, 2012 | 1 Comment

We wish to informed that we have received a letter replied from our Majlis Perbandaran Kajang pertaining to Joint Management Body matter for block A – O only.

The said letter is in Malay Version, if you don’t understand the meaning of the said letter, kindly contact us, we can assist you to understand it either in Chinese, Mandarin, Hokkien, English. Majlis Perbandaran Kajang letter dated 1 November 2012

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