NOTICE OF THE 66th ANNUAL GENERAL MEETING PDF Print E-mail

8th June 2016

To: Members of the Methodist Boys’ School Kuala Lumpur Alumni Association

NOTICE OF THE 66th ANNUAL GENERAL MEETING OF THE METHODIST BOYS’ SCHOOL KUALA LUMPUR ALUMNI ASSOCIATION

NOTICE IS HEREBY GIVEN THAT the 66th Annual General Meeting (AGM) of the Methodist Boys’ School Kuala Lumpur Alumni Association (MBSalumni), will be held as follows:

Date    : 2nd July 2016 (Saturday)
Time   : 2.30 p.m.
Venue : Lecture Theatre, Methodist Boys’ Secondary School Kuala  Lumpur, Jalan Hang Jebat, 50150 Kuala Lumpur.

The agenda of the 66th MBSalumni AGM shall be as follows:

  1. To confirm the Minutes of the 65th Annual General Meeting
  2. To receive and consider the Report of the Management Committee for the year 2015-2016
  3. To receive and consider the Statement of Accounts for the year 2015
  4. To re-appoint Messrs Y.S. Yee & Co. as Auditors of the Association
  5. To consider and vote on the following resolutions tabled by the Management Committee, in pursuant to Rule 18(a) (iii) of the Association’s Rules and Regulations:
      • Resolution #1  - The present Management Committee seeks a mandate from the members of the Association to give authority to the Management Committee to identify, negotiate and decide on the purchase of the proposed property investment of the Association.
      • Resolution #2  - The Management Committee seeks a mandate from the members of the Association to give authority to the Management Committee to execute relevant documents, including Sale & Purchase Agreement (SPA) in connection to the property or properties to be invested.
      • Resolution #3 – The Management Committee seeks the approval from the members of the Association to uplift the Fixed Deposit maintained with Public Bank Berhad for the purpose of funding the acquisition or acquisitions and to close the fixed deposit account thereafter.
  6. To consider any other motions which may be duly submitted as per Rule 18(a)(iii) of the Association’s Rules & Regulations.

Please take note that a copy of this Notice, Minutes of 65th Annual General Meeting (2015) and Audited Statement of Accounts for 2015 of the MBSKL Alumni Association are available for viewing at the official website www.mbsalumni.net and a set has been posted on the Association’s Notice Board in front of the MBSSKL Administration Office.

Thank you.

By Order of the Management Committee,

CHOO YEW KUEN
Honorary Secretary

Resolution #1

A new mandate be granted by the members of the Association to allow the current office bearers (Management Committee Members) of the MBSKL Alumni Association to invest the proceeds from previous disposal of a property comprising of a piece of leasehold land held under title no. PN 42560, Lot 340, Seksyen 56, Daerah Wilayah Persekutuan, Bandar Kuala Lumpur, Negeri Wilayah Persekutuan together with a two and half storey building erected thereon (the proceeds from this sale are now in fixed deposits placement with Public Bank Berhad) in an income producing property or properties.  Successful investment can only be proceeded subject to fulfilling the following conditions:

i)            Unanimous agreement and approval by the Management Committee Members of the MBSKL Alumni Association.

ii)            Endorsement by Subject Matter Experts/SMEs (Advisors & Consultants, as nominated and approved during the 64th AGM [2014] of the Association. They are Mr Chu Tham Sang, Mr Kumar Tharmalingam & Mr Tan Kok Boon.)

iii)            Supported by accredited valuation by a Professional Property Valuer, and

iv)            None of the members of the Management Committee Members or appointed SMEs or members of the Association has any interest, direct or indirect, in the prospective investment property.

Resolution #2

“THAT, subject to the passing of Resolution #1 above, approval be and is hereby given to the Honorary Secretary and one of the following Office Bearers; either the President, Vice-President or Honorary Treasurer of the MBSKL Alumni Association to execute relevant documents, including Sale & Purchase Agreement (SPA) in connection to the property or properties to be invested.

Resolution #3

AND THAT, subject to the passing of Resolution #1 above, approval be and is hereby given for the Association to uplift the fixed deposits maintained with Public Bank Berhad for the purpose of funding the acquisition or acquisitions and to close the fixed deposit account thereafter; and that the existing signatories to the said fixed deposit, Dato’ Teo Chiang Quan and Mr Wan Heng Yuen, be and are hereby authorized to sign, for and on behalf of the Association, the relevant documents drawn or to be drawn up in connection therewith;

AND THAT further authority be and is hereby given to the Honorary Treasurer and the President to place the excess cash of the Association upon the completion of the Acquisition in fixed deposits with licensed Malaysian bank(s) at the bank(s)’ prevailing interest rates. And the Honorary Treasurer with either the President or the Honorary Secretary be authorized to sign, for and on behalf of the Association, the relevant documents drawn or to be drawn up in connection therewith.”

RATIONAL FOR PROPOSED RESOLUTION #1

The underlying rationale for the proposed Resolution #1 is to allow greater flexibility for the MBSKL Alumni Association, to prospect, negotiate and acquire a property, in a timely manner.  The Association has to be nimble in seeking out prospective properties coming available in the market.  Time is always a challenge for the Association in making expedient decision.  In this regard Resolution #1, we believe will overcome this challenge.

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