Thursday, May 21, 2009

How much viewed is this website?

Current Country Totals
From 9 Aug 2008 to 20 May 2009

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Sunday, May 17, 2009

Events Leading to Regulations of TimeShare industry

*(The following information was extracted from another Malaysian timeshare organization. The information appears relevant to all time share investors.)

Proper legislation on the timeshare industry came into light in 1993 shortly after a company went bust after collecting money from 33,000 members. A couple of years before that, timeshare schemes caught on at such a pace that in June 1992, the then Registrar of Companies (ROC) put a freeze on applications for the setting up of timeshare ventures. The freeze was nevertheless lifted in July the same year.

Section 84 of the Companies Act was amended and came into force in September 1992 so that the sale of shares in timesharing holiday resorts is regarded as a sale of interests to the public. A definition of timesharing was also included. In the same month, the ROC issued two sets of policy guidelines and requirements of timesharing arrangements is that only a public company can make public offerings of interests.

Government Regulations
It was regulated that the paid-up capital of the developer must not be less than RM1 million in accordance with the Securities Industry Act 1983. Furthermore, a sinking fund has to be established to cover periodic repairs and replacement. Also, the proposed issue or sale to the public of timeshare interests must be approved by the Capital Issues Committee as they are deemed to be securities.
There has to be a mandatory cooling-off period disclosed in the prospectus where the purchaser can cancel his membership. To safeguard the interests of the purchaser, the number of timesharing holders should correspond to the number of units in the project. The list of facilities and amenities provided must be clearly stated in the prospectus.

Role of Trustee
Under the regulations, each timeshare company must have a trust deed and a trustee to act on the interest of holders, such as ensuring no misappropriation of profit of revenue. Any complaints from holders can also be directed to the trustee. The trustee is a licensed committee made up of timeshare members themselves. Members are appointed on a quarterly basis during an Annual General Meeting.

Role and Objectives of MHTDF (
MHTDF was registered in March 1993 to ensure self regulation among members. The objectives of the federation includes promoting honorable and proper conduct in the business of timesharing. The federation also represents member companies in all dealings with the Government, other trade association, the media and the public. Other roles include assisting the authorities in regulations pertaining to the industry and the dissemination of information on new regulations.

Friday, May 15, 2009

Booking form

Booking Form
For those wish to try this online booking form, please try by clicking on the word above, "Booking Form". Do not forget to give me some feedback. The required fields have been replicated from the standard form you can get from HGVC's office. Perhaps, all members can use this form to do online booking and we can monitor the success rate of each application.

Meanwhile, I thought the listing of future holidays before the end of 2009 would be useful reference.

Agong's Birthday 06/6/2009 Saturday
National Day 31/8/2009 Monday
Hari Raya Puasa 20/09/2009 to 21/09/2009 Sunday To Monday
Deepavali 17/10/2009 Saturday
Hari Raya Qurban 27/11/2009 Friday
Awal Muharram 18/12/2009 Friday
Christmas 25/12/2009 Friday

And, for school holidays;
2nd Term 30/5/2009 - 14/6/2009
3rd Term 22/8/2009 - 30/8/2009
Final Term 21/11/2009 - 03/1/2010

Wednesday, May 13, 2009

Come for the next Annual general Meeting in Ipoh

Greetings to all members of HGVC.

For most of us a decade has past since we have/have not been "enjoying" the benefits of membership. For some of us, there were attendance at the inaugural Annual General meetings and the followed-up adjourned general meetings. For some, this membership has already been forgotten for one reason or another.

Let us make this year different from other years. After all, 10 years is not an easy period to have gone by. Get in touch with people whom you know are members of this Heritage Grand Vacation Club. Ask them for their membership numbers, if they can remember. Persuade them to come for this meeting. If not, get them to proxy you for this meeting.

The main reason why you should be doing this is because holding two meetings twice a year just because there are insufficient members turning up or not getting enough proxies to hold a legal meeting can be a drain on members’ time and expenses, especially those who reside outside Ipoh.

I urge you members to make this a special year. This time around, the CEO Mr. Edward Woo, has committed to attend and it would be the best to give a good turn out; for all questions/disputes etc can be directed at him who's the authority; unlike past AGMs when the operator was only represented by his Management staff without full executive authority. Come in full force to see how this 10th meeting is run and meet those who have been representing members-at-large. Or, perhaps, you would like to volunteer to be in this liaison committee group. It positions you in a very special relationship with the Operator and the Trustee. Have you met them in person?

So, see you there on 25th July, 2009.