| Date | : | 23rd December 2021 |
| To | : | Teega Parcel Owners |
| From | : | The Management |
Dear Valued Residents,
REF : COVID-19 FINANCIAL RELIEF PROGRAM – FINAL REMINDER
Refer to the matter above, we would like to remind and encourage parcel owners to participate the Covid-19 Financial Relief Program which was approved in our 4th Annual General Meeting.
Motion #5
Subject : Covid-19 Financial Relief – 3 months management fee waiver possible additional one month based on management operating P&L
“In light of the pandemic, all proprietor are suffering financially, to ease the crunch, it is proposed Teega to have a Covid-19 financial relief program that can be extended to a total of 4 months waiver subject to operational P&L. ie. proprietors will pre-pay 2 month per quarter to have the 3rd month of the quarter management fee waived.“
Hence, we urge parcel owners to make advanced payments for month of Jan’22 & Feb’22 before 31st December 2021, in order to enjoy the waiver for month of Mar’22. Same goes for Quarter 2 & 3.
- Quarter 1 FY2022 : Jan/Feb/Mar 2022
Owners must pre-pay the 2 months (Jan & Feb 2022) Maintenance Charges & Sinking Fund by latest 31st December 2021 to have the 3rd month (Mar 2022) of the Maintenance Charges & Sinking Fund waived, by way of a credit note.
- Quarter 2 FY2022 : Apr/May/Jun 2022
Owners must pre-pay the 2 months (Apr & May 2022) Maintenance Charges & Sinking Fund by latest 31st March 2022 to have the 3rd month (Jun 2022) of the Maintenance Charges & Sinking Fund waived, by way of a credit note.
- Quarter 3 FY2022 : Jul/Aug/Sep 2022
Owners must pre-pay the 2 months (Jul & Aug 2022) Maintenance Charges & Sinking Fund by latest 30th June 2022 to have the 3rd month (Sep 2022) of the Maintenance Charges & Sinking Fund waived, by way of a credit note.
- Quarter 4 FY2022 : Oct/Nov/Dec 2022
Owners must pre-pay the 2 months (Oct & Nov 2022) Maintenance Charges & Sinking Fund by latest 30th September 2022 to obtain a possible waiver for the 3rd month (Dec 2022) of the Maintenance Charges & Sinking Fund (to be reviewed and confirmed by JMC), by way of a credit note, subjected to operational P&L performance. The JMC shall review and revert if the waiver can be executed.
As at 21st December 2021, we have received positive responses from parcel owners who have participated in the Covid-19 Financial Relief Program, as per the table below;
For parcel owners who have paid advanced for 6 months or 12 months, the incentive of 3% and 6% respectively shall be applied as well. Credit note shall be issued for the waived months.
After credit notes are issued, your balance shall be reflected under the open credit (advanced payments) which can be utilized for Water billing, Maintenance Charges or Sinking Fund payments. Hence, we would like to remind parcel owners to inform us on the utilization plan for your open credit. By default, we shall reconcile your open credit for the subsequent billings for Maintenance Charges, Sinking Fund & Water billings.
To add on, for parcel owners who have late payment interest(LPI) charged to the unit, a total of RM200 LPI can be waived (one-time) if full payment is received for all outstanding.
Lastly, there shall be no Fire Insurance or Quit Rent back-charge starting FY2022 as both the expenses have been integrated into the monthy Maintenance Charges.
Should you need assistance or have any query, do contact us at teega.general@teega.com.my or teega.general whatsapp contact number (+6017-981 7313).
Thank you for your attention.
Best Regards,
On Behalf of Badan Pengurusan Bersama Menara Teega