Kristal Golf Resort

Kristal New Update 5th July 2009 by Billy Yeo

2009-07-06T19:38:00.000-07:00

On 5.7.09, I had a very fruitful meeting with the representatives of the Japanese group., Mr S. Ogura (Chairman of Japanese Assosiation), Mr H Kawase, Mr K Matsuno and Mr G Maeda with Mr Ishihara as the organiser.

The following were discussed and will be put into action.
1. The Japanese community has voiced it's disappointment over the non-action taken by the state and federal government over this matter.
2. Will discuss with the Consul-general of Japan over the lack of protection for it's members as well as the adverse image it has on the Trading and Investment ties it has with Malaysia particularly Penang and Kulim. Meeting was done on the evening during a dinner.
3. Agreeing to cooperate with our local members to Boycott the golf course under the new management if it should reopen unless the Action Committee is approached for discussion.

In return I pledged to also support fully their actions, as we share the same idea. We want our membership to remain Status Quo.

Regards,
Billy Yeo
KGR Action Committee Chairman

Updates - by Bily Yeo

2009-05-31T11:12:00.000-07:00

There was a request from the Jabatan Tanah that we remove the caveat on the land for Mr Ong., We have given the permission to Mr. Ong to do what he deems as fit with the advise of our Legal Advisor,. We cannot reveal too much as it may jeopardize the situation.

In the meantime we have together with the Japanese community with a stronger support submitted a Memorandum through the Japanese Consulate to the new PM for further action. With this official protest we hope to GO further.

Our other course of action is also having insiders to check whether there is any irregularities in this deal between the owner and Danaharta which can void the sale.

FYI the committee has actually invited the owner to meet up for dialogue and resolve this matter amicably but they DO NOT even acknowledge us. In their opinion we have no chance so no need to entertain us. Even invitations from the previous BN government and the present state government were ignored. SUCH ARROGANCE. In the event that they do open the golf course but still unwilling to have a dialogue with us, let us all BOYCOTT and inform all our friends to do so. The Golfing community is not BIG so if half of it refuse to support his business, they will be lucky to get 10 paying flights.

There is indication the golf course may reopen as per Kong Wah paper advertisement looking for staff on Sunday 24/5/09. Opening date not known yet.

We will also organize Pickets to create awareness.

Messege from Billy Yeo

2009-03-23T20:25:00.000-07:00

ONCE The accounts are audited we will be posting it up.

There has been comments from members regarding the the action taken by the committee. All decisions made are delibrated and consented by majority. Any person or persons who feel they can do a good job are very welcome to take over the post. It has been 2 years and we certainly welcome new blood and ideas and leadership. We have been travelling to and fro the mainland and island for meetings, made a lot of trips to government and relevant as well as wakil rakyats offices all this time at our own expense. It is time other members who have time to take over. We have our own businesses to run too especially in today's trying economy.

Most of the committee members elected are quite senior and do not have personal emails (I don't think there is a program for TeoChew language) so you are welcome to send your email to billyeo@gmail.com and I will pass to the other comittee members.

Thank you.

Billy Yeo
KGR Action Committee Chairman

Feedback from Member

2009-03-23T20:17:00.000-07:00

Thanks for the update. Please let us know the email
addresses of Members Action Committee. More interactions
among members and dialogues are needed for
resolution.KL Tan (M10006)

Latest News From KGR Action Committee Chairman - 20th February 2009

2009-02-26T04:25:00.000-08:00

As to date, the Action Committee together with Mr Ong Chin San also a member and a land owner has caveated the land using Mr Ong's land. On January 18 we were asked by Land Office to remove the caveat but the committee had a meeting and unanimously agreed to hold on to whatever last remnant of hope we have an extended the caveat at the High Court. This is going to cost us about RM20,000. Our funds available is not suffucient so I would like to appeal to all members who have not paid our RM200 Save Kristal Fund to come forward and help by paying up.
Another course of action we may take is to make make a claim from the new developer for the membership he "inherited" when he took over the golf course from Danaharta. Our lawyer is studying this case. Whatever it is we are going to make life difficult for the new owner.

Thank you.

Billy Yeoh

NST Online - Local News 16/11/2008

2008-11-16T19:11:00.000-08:00

Kristal Resort members want their rights

GEORGE TOWN: Some 1,400 Kristal Golf Resort members are appealing for their rights as members to be restored

Action committee secretary Lau Heng Loon said Pengurusan Danaharta Nasional Berhad had failed to inform members of the situation the resort was in up to the moment it was foreclosed.

"As an arm of the government, Danaharta did not inform us of the entire situation," he said yesterday.

Lau said they only found out about the foreclosure from the media and were also not aware of the sale of the land to another company.

The committee's legal adviser, Lee Khai, said the land was originally bought by Suasa Kristal (M) Bhd and, after the financial crisis in 1997, it was charged to the bank.

Lee said Danaharta took over Suasa Kristal's non-performing loan on Aug 2002 and the resort was foreclosed in 2003.

"The land was initially supposed to be sold via open tender but it was sold to a company under a private treaty deal.

"We found the company had paid RM2.1 million as deposit in June, last year, but the property transfer was only completed 15 months later, in October," he said, asking why the company was allowed such a long time to complete the RM21 million sale.

Lee also asked why the members were not given the opportunity to raise the funds to buy the place, instead of it being sold to another company.

"We also wonder why Danaharta was allowed to transfer the land even though there were seven caveats on the land."

Lee noted that the law did not protect golfing members as they had no proprietary rights to the place.

光华日报-北马新闻 16/11/2008

2008-11-16T19:08:00.000-08:00

水晶高尔夫度假村会员行动委会吁政府关注球员基本利益
二零零八年十一月十六日晚上十一时五十八分

（槟城16日讯）水晶高尔夫度假村会员行动委员会呼吁联邦政府，尤其是财政部长兼下任首相拿督斯里纳吉关注全国高尔夫球俱乐部会员的基本权益，同时要求州政府不要允许及批准发展商将该土地进行商业转换用途的申请。

该行动委员会是在升旗山区国会议员刘镇东及代表律师李凯的陪同下，于周六召开的新闻发布会上如是表示。出席者除了该行动委员会的理事之外，也包括约20名会员代表。

义务总务刘庆伦表示，该俱乐部于去年7月23日起突然关闭后，1400名会员（包括400名外国籍会员）即被禁止进入打球。由于有感此举已剥削会员基本权益，因此在去年9月9日成立以杨世灵为首的行动委员会，处理相关问题。

他指出，国民资产有限公司（Tanaharta National Berhad）以低过其他投标者的价格，即是2100万令吉将该俱乐部的土地（管理及资产）转移给一家私人公司。但是，其他高过2100万令吉的投标却没有获得考虑。而最荒谬的是，该土地面积占287英亩，平均1方尺才卖1令吉67仙。然而，以目前的市场预算，该区土地1公尺约可值5令吉。

“1991年买入的价钱为2500万令吉，17年后卖出的价格（2100万令吉）反而更低，这是为什么？何况，在该土地上也曾进行了5500万令吉的发展与建设，包括羽球场、泳池等。国民资产有限公司是联邦政府在1997年金融风暴时所创立的单位，现在到底是不是站在人民这边？”

30％会员是外国人

刘镇东表示，他于10月23日曾在国会上提出此问题。后于周三也在国会走廊就此事会见第二财长丹斯里诺莫哈末，后者承诺会关注此事。此外，槟首长林冠英也于较早前表示关注。

该行动委员会主席杨世灵指出，30％的会员是外国籍人士，其中以日本人占多数。他们大部分来自国际公司集团，包括Pen Group、 Texchem、 Renesas Semiconductor、Sony、 Fuji Electric 及参与马来西亚第二家园计划者等；而此事件已损坏大马的国际名誉及旅游业发展。

球场已成立14年

他指出，较早前曾向首长政治秘书黄伟益求助，后者协助发信予新接管公司，要求聚集一起商讨此事。惟，新接管公司却觉得没有这个必要。对此，他们感到很失望，也觉得很可惜。

“如果全马约有200所高尔夫球俱乐部各拥有1000名会员，每名会员缴交3万令吉，那么涉及的款项就会高达60亿令吉。因此，我们希望联邦政府严正看待此事件，不要漠视我们的权益。”

据了解，水晶高尔夫度假村是在1994年创设，占地287英亩，拥有18个洞的高尔夫球场。成立至今已有14年，是威南首所高尔夫球场。

New Straights Times 8th Nov 2008

2008-11-09T18:56:00.000-08:00

NST Online » Local News
2008/11/08

300 expats appeal for access to golf course
By : Melissa Darlyne Chow

GEORGE TOWN: Some 300 Japanese expatriates living and working here are appealing to be allowed use of the golf course of the Kristal Golf Resort in Sungai Bakap, which has gone into receivership.

Since the resort closed its doors on July 23 last year, itmembers -- some of whom work with multinationals such as Pen Group, Texchem, Renesas Semiconductor, Sony Corporation and Fuji Electric -- have not been able to use the golf course.

One member, former businessman Tatsushi Yamamura, 63, who is here under the Malaysia My Second Home (MM2H) programme, said that he had paid the membership fees and visited the resort only a few times before it ceased operating.

"Golfing is an important social activity for Japanese expatriates here."

In fact, many Japanese retirees were of the view that inexpensive golf in the state was a major reason to retire here. Another member, Kenichi Matsumo, 46, who is Fuji Electric senior general manager, said there should be a law to protect the members.

The resort closed without any explanation and members were not refunded their membership fees.

Corporations had paid between RM40,000 and RM50,000 while individuals paid between RM36,000 and RM42,000.

Bukit Bendera member of parliament Liew Chin Tong said he was informed that a new management had taken over the club after it was placed into receivership.

He said the new management was maintaining the golf club but had not reopened it to previous members.

Liew said he had raised the issue in Parliament and was awaiting a reply

光华日报-北马新闻

2008-11-08T08:16:00.000-08:00

水晶高球俱乐部突关闭事件刘镇东吁中央插手
二零零八年十一月八日晚上七时十九分

（槟城8日讯）升旗山区国会议员刘镇东硕士吁请财政部给予一个清楚的解释及回复，有关双溪峇甲水晶高尔夫球俱乐部突然关闭的事件，以免为我国带来负面的影响及有损马来西亚在外资眼中的形象。

他认为，人民也要知道，国民资产有限公司（现在是Prokhas 有限公司）以低过其他投标者的价格，即是2100万令吉获得该俱乐部的管理及资产。但是，其他高过2100万令吉的投标却没有获得考虑。

备忘录获94会员签署

也是槟州首席部长林冠英幕僚长的刘镇东于周五在Tropical Resort Lifestyle（MM2H）有限公司办事处，代表首长接领由水晶高尔夫球俱乐部会员提呈的备忘录后，如是向媒体表示。

出席者包括，其政治秘书丁国亮、法律顾问王忠辉律师，水晶高尔夫球俱乐部会员松野研一、山村辰志、前田元始等。

有关会员提呈的备忘录共获得94名签署，其他会员也会陆续的签名。

备忘录中表示，高尔夫球是日本人在槟城重要的社交活动，目前约有1200名日本人在槟。水晶高尔夫球俱乐部是日本人首选的高尔夫球场，约有300名日本籍会员，他们大部分是来自国际公司集团，包括：Pen Group、 Texchem、 Renesas Semiconductor、Sony、 Fuji Electric 及参与马来西亚第二家园计划者等。假如会员费平均4万令吉，那么，在水晶的投资将是1200万令吉。

会员希望重新开放

会员对于Kristal的关闭感到惊奇，同时也没有获得任何的解释及给予会员作出赔偿，不像在Pearl Island Golf Club于2005年关闭时，会员获得当局归还会员费。

另一方面，他们也认为虽然该高尔夫球场已被接管，但是该俱乐部是涉及众人的利益，因此，会员不能接受水晶高尔夫球场的关闭，并希望重新开放。

对日本投资者欠公平

他们也认为在这项的交易中并没有透明化，及对日本投资者欠公平，日本投资家于1991年以2500万令吉作出投资，Danaharta于2007年以2100万令吉出售。在日本人投资16年及耗资5500万令吉的建筑与装修下，目前的市价最少也有5000万令吉。

Japanese want Sungai Bakap golf resort revived

2008-11-08T02:39:00.000-08:00

The Star - Saturday November 8, 2008

Japanese want Sungai Bakap golf resort revived

A GROUP of Japanese golfers have appealed to the state government to help revive the Kristal Golf Resort in Sungai Bakap which stopped operating in July last year.

The group, comprising 90 Japanese from Penang and Kedah, said the affected members had not been refunded the resort’s club membership fees.

The corporate life membership was RM40,000 to RM50,000 while individual life membership was between RM36,000 and RM42,000.

Speaking at a press conference yesterday, the group said the golf club had about 1,400 members when it ceased operations, of which 300 were Japanese.

Fuji Electric Semiconductor (M) Sdn Bhd senior general manager Kenichi Matsuno, 46, whose company in Kulim was a corporate member of the golf club, said there should be some law to protect the rights of club members.

Another member, retired businessman Tatsuhi Yamamura, 63, who came to Penang under the Malaysia My Second Home (MM2H) programme in 2006, said he had just paid his annual membership fees to the club before its closure, and only managed to use the facilities a few times.

The group handed a letter of appeal to the state government yesterday through Bukit Bendera MP Liew Chin Tong, who is policy adviser to Chief Minister Lim Guan Eng, and said they were still in the process of collecting more signatures.

In the letter of appeal, the members said golf was an important social activity for the 1,200 Japanese expatriates in Penang, and large multinational companies such as Pen Group, Texchem, Renesas, Sony, Fuji Electric and others had multiple corporate membership at Kristal Golf Resort, which was also the main golf course for long-stay tourists and MM2H residents from Japan.

They said the original Japanese investor had paid RM25mil for the land in 1991 and spent about RM55mil on the infrastructure and facilities, but national asset management company Pengurusan Dana-harta Nasional Bhd sold it to the current buyer at only RM21mil in 2007.

“If the obligation as golf course is removed, the land should be easily worth RM50mil. The recent transaction of Kristal is not transparent and not fair to the original Japanese investor,” read the letter.

It also gave as example that when the Pearl Island Country Club closed in 2005, the golf club went on to refund the membership fees to its members.

Liew said the state government was taking steps to meet the buyer.

He also said the federal government had to answer why there was no open meeting over the sale of the land, why it was awarded to the buyer when there were higher bids, and why the interest of the club members were not taken care of.

Letter from KGR Action Committee To PM's Office

2008-06-30T18:02:00.000-07:00

Letter to PM's Office

Before the General Elections I submitted a complaint to you which you have said you will look into but until now there is no response.

To recap our KGR members problem; Danaharta through Prokhas has sold off this property to Uji Dunia and the deal is been for nearly 2 years but still no conclusion. We are very suspicious at the nature of this deal. Secondly while the wheeling and dealing is going on members should be allowed to use the golf course.

We members are also interested to take over and convert it to a member's club which will then preserve the environment.
When we look at KGR situation we realise that there is no protection for other members of other golf clubs .Should the owner decide to close shop and sell the land to a developer there goes your license fee.

We trust the government will help to look into this. Find out why the deal is lopsided and taking so long.

Thank you.

Latest News - by KGR Action Committee Chairman

2008-06-26T08:10:00.000-07:00

On 13.5.2008, a letter was sent by the state government to Uji Dunia
(the purchaser) inviting them to meet with our committee to discuss
about their intentions for Kristal Golf Resort. Unfortunately they are
not interested to meet up with us. Tell us to talk to Danaharta. I
think they are being very arrogant to even snub the new state
government.

On 26.06.08 the committee had a meeting with YB Ng Wei Aik
representing our CM YB Lim Guan Eng . We had a fruitful meeting
explaining the full situation from the beginning. It was positive from
the state government as the zoning of Kristal will not be converted
from recreation to development. Instructions will be given to Land
Office and MPSP. We also highlighted that this case not only affects
the KGR members but the golfing community throughout Malaysia as any
propriety club can just close up, sell their land for property
development without having to compensate their members.

This is serious message to our members, legally our case is very weak,
we have to come together, cooperate and support each other. We need
to use people power to win this . Makkal Sakthi. Please inform all
KGR members and all your friends who are golfers even from other
clubs to come and support our cause and course of action. Don't let a
precedent be set otherwise they may end up the same way as KGR's
members.

Watch out for further news. We will also be posting the committee's
collections and accounts soon for member's to view.

Thanks,

Billy Yeo
CHAIRMAN
KGR Action Committee
26th June 2008

Good News

2008-01-30T00:51:00.000-08:00

The KGR Action Committee just received a cc copy of letter from Deputy Chief Minister of Penang to Pejabat Tanah containing notice of our request to stop all application of change of land usage.

From: Mr. Lau (Hon Secretary)

Meeting with Danaharta - 23/10/2007

2007-11-22T07:29:00.000-08:00

During the discussion with Danaharta on 23/10/2007, various matters were brought up to them.

Amongst them was the possibility to convert KGR into a members club. Members with any comments on this matter please post them.

We have also requested the Receiver & Manager to re-open the course for our usage while all this sales matter is finalised and are awaiting their reply.

You will be informed of further development.

Thank you.

EGM MINUTES 9 September 2007

2007-10-16T20:28:00.000-07:00

KRISTAL GOLF RESORT
MINUTES OF EXTRAORDINARY GENERAL MEETING (EGM) OF MEMBERS

Date : 9 September 2007
Time : 2.30 p.m.
Venue : Green House Coffee House & Restaurant, Bukit Tambun, Simpang Ampat

Present
Name - Designation
1 Mr Billy Yeoh - Pro-Term Action Committee
2 Mr Shotaro Ishihara - M.D. Suasa Kristal (M) Berhad
3 Mr Tan Beng Hong - PB Trustee Services Bhd
4 Mr Ravi Krishna Iyer - PB Trustee Services Bhd
5 Ms Jothirani Krishnan - PB Trustee Services Bhd
6 Ms Teh Shu Ting - PB Trustee Services Bhd
7 Ms Christine Peter - PB Trustee Services Bhd

Members attending in person 159
Valid Proxies 59
Total Attendance 218

Minutes of the meeting
The meeting was called to order t 2.45p.m. by Mr Ravi Krishna Iyer. He welcomed all members who were present. The quorum for the meeting was confirmed with 159 members present in person and 59 valid proxy forms received.

Appointment of chairman for the EGM
Mr Billy Yeoh was appointed to Chair the EGM proceedings

1. Purpose of the EGM

1.1 Mr Billy Yeoh informed members that PB Trustee Services Berhad (the “Trustee") has called for this EGM to explain to members on the events that have and transpired that have led to the current status of the Kristal Golf Resort (the “club”). Mr Ravi briefed the members on behalf of Trustee.

1.2 The members would also be briefed by Mr Shotaro Ishihara, the M.D. of Suasa Kristal (M) Bhd (the “operator “) on his explanation with respect to the whole episode of events.

1.3 Thereafter, the forum would have to elect and endorse a formal Action Committee which would then act on behalf of the members, be given the full mandate to decide and take appropriate actions to protect and safeguard the interest of members in regard to the ongoing crisis in the Club. The Action Committee would also be given the powers to collect contributions from members to fund all activities and action to be pursued and liaise with Trustee accordingly.

1.4 Thereafter, resolutions from members on the further course of actions to be pursued would be tabled/passed, to be acted upon by the Action Committee and Trustee.

2. Briefing by Trustee

2.1 Mr Ravi from the Trustee informed members that on 23/07/2007 (Monday) morning. Trustee had received a fax notice from M/s MustaphaRaj Sdn Bhd (the "R&M") informing that they have been appointed as receivers and managers of Suasa Kristal (M) Bhd (the "operator" of the club) by Pengurusan Danaharta Nasional Berhad ("Danaharta") as holders of Debenture created on the properties on which th 1ub is situated.

2.2 Trustee was shocked with the fax notification and sought to obtain further information & c1arifcation from the R&M. Trustee was unable to speak to the persons in chargeuntil 30/08/2007. afterwhich, they managed to speak with a representative of the R&M who verbally recited the chronology of events to the Trustee.

2.1.1 The properties of the club had been charged to a financial institution in the 1990’s by the operator for some loan facilities. which had turned non-performing during the financial crisis of the late 90’s.

2.1.2 Subsequently, the loans and the security thereby created had been taken over by Danaharta under a special statute governing the operations of Danaharta.

2.1.3 Danaharta has been sourcing for potential purchasers for the property through advertisements in their property magazines over the years. They had sold the club’s properties by private treaty pursuant to powers given under Pengurusat Danaharta Nasional Act and have now appointed the R&M to take possession, vacate the occupants and handover vacant possession to the purchaser.

2.1.4 Thus, upon instructions from Danaharta, th R&M have moved in and sealed the club premises, secured the property for eventual hand-over to the purchaser. The property would thus not be used as a golf course thereafter.

2.3 Trustee further inquired on the status of the members’ interests pursuant to Kristal Golf Resort. It was informed that the members would have no legal rights against Danaharta, or the property. Their claims of interest would be against the operator, as a company, and they would stand as unsecured creditors to seek any remedy to their rights.

2,4 Further requests to the R&M for funding to organize the EGM of members, seeking their attendance in the EGM. request for information on the purchaser and a copy of the Sale & Purchas agreement, have all been declined and the R&M have firmly informed Trustee that they are not obliged to accede to any such requests from members or Trustee.

2.5 Question by Mr Ong Cheow Chan (M’ship No.30339)

What are the roles and responsibilities of the Trustee in protecting the interest of the members of the club?

The Trustee has a duty to ensure the Operator complies with the guidelines issued by CCM on operations of the club, compliance with all the terms and clauses in the Trust Deed and generally to ensure the club’s operations are ongoing as nonnal.

However, the trustee’s legal powers are limited, as they cannot inquire into the internal financial affairs, or management of the Operator at company level. Neither does the Trustee have the power to control or regulate the decisions by the Operator as a Company with regards to management the company’s internal financial affairs, including borrowing decisions or encumbrances on properties owned by the company.

Trustee regulates the Operator’s obligations to the members, with regards to the provision of Clubs facilities as promised under the Trust Deed and management of the trust funds covered in the Trust Deed.

2.6 Trustee informed members that the Club membership currently stood at 800 active members, inclusive of 300 Japanese members. Besides this, there were 600 members in default. The club’s Sinking Fund stood at RM3,003-00 as at 31/08/2007. The Operator had not remitted the sinking funds to the Trustee for the last 7 years. The operator had utilized the funds for repairs and replacements to the club’s facilities.

2.7 In addition, the Trustee is currently owed Trustee fee of RM1O,500 and apart from this, the Trustee has thus far incurred expenses and disbursements of RM6,502.65 in counection with convening this EGM.

3. ExpIanation’from the Operator (by Mr Shotaro Ishihara)

3.1 Mr Ishihara apologized to all members for the events that had transpired and the status of the club now. It was not his wish to see the Club at this state.

3.2 Brief History of Kristal Golf Club The Club started operations in November 1994 and things were going very well. Most of the development projects also started in 1997. Everything was fine until financial crisis hit the country in 1997, after which many of the development projects had been delayed or stalled.

3.3 The operator ran into financial difficulties as Golf Club operation was no longer profitable in view of dwindling incomes and higher overhead costs. This was made worse by defaults in membership subscriptions by numerous members.

3.4 Consequently, the bank borrowing undertaken by the Operator for the development of the Club and related projects took a turn for the worse and was not being serviced promptly. The loans became non-performing and subsequently the bank sold the loans and underlying securities to PDNB. Mr Shotaro Ishihara had undertaken numerous measures to cut costs in many ways to ensure the sustainability of the Club.

3.5 Mr. Ishihara had several meetings with PDNB to resolve the non- performing loans and worked very hard to introduce many interested purchasers with offers to PDNB. but all these offers were declined by PDNB, citing that the offers were not to PDNB’s expectation since the sums offered were lower than PDNB’s price.

3.6 Mr Ishihara further highlighted that PDNB, knew very well that the properties comprised a GoIt Course and related facilities, for which members of the public have paid substantial sums of money to acquire membership rights to use these facilities. Thus, PDNB should have exercised reasonable consideration to offer the underlying properties for sale to potential Golf Club operators, rather than just sell the properties to any party, like in this instance, to a party which does not intend to continue the Golf club operations, thereby depriving innocent members of their rights to play golf and use the facilities of the Club.

3.7 Mr Ishihara also informed members that PDNB is said to have sold the properties for a sum of RM21 million. The sale s said to have made at end of 2005 with only an earnest deposit paid by tlie purchaser, The Sale & Purchase agreement was purported to have been made only this year with payment of 10%. Mr ishihara said it is so unusual for a property transaction to drag for almost 2 years from the time earnest money is paid to signing S&P. He doubted the genuineness of the purported sale.

3.8 Mr ishihara said that he had subsequently also proposed another investor with an offer for RM22 million to PDNB. But there had been no response from PDNB.

3.9 Mr Ishihara further assured members that he would assist members in any way he can to protect their interests and to acquire back their rights as members of the Club.

4. Questions by Members and explanation by Trustee/Operator

4.1 Why Sinking Fund was not raised up during the previous AGM? How to go about it? (Mr Ong Cheow Chian -3O339)

The Trustee said that they had, on various occasions, reminded the Operator on the requirement to remit sinking fund contributions to the Trustee but the Operator had failed to do so due to cashflow problems, although they had utilized the Sinking Funds monies for the repairs and replacements done to the Clubs’ facilities, which is a legitimate use of the Sinking Funds. Trustee have also verbally informed CCM of this matter while the Operator has also said they have informed CCM of the same.

4.2 Trustee should protect the members, but Trustee didn‘t inform the members about the Club being taken over by receivers earlier, then how the Trustee is going to protect the members? (Datuk Dr. Yee Thiam Sun M0448)

Trustee said they were unaware of the actions of PDNB as Trustee was not notified by the parties earlier. Upon being notified, Trustee has done everything necessary, including numerous calls to R&M and PDNB, sought a meeting with R&M over the issues, had a meeting with CCM to brief CCM on the matter and seek advice, and convened this EGM of members at the earliest possible time upon obtaining the membership register from the R&M in order to seek members’ directiops on the further eøurse of action.

4.3 Members should retain a solicitor and get gai opinion and the Trustee ha the option on whether they want to continue to assist the members or not (Mr Billy Yeoh See Ling-M1577)

Trustee informed members that they would continue to act as Trustee under the Trust Deed to assist members in whatever ways possible to seek remedy for the members’ predicament.

4.4 Is there any membership sold after 23 July 2007? And is there any evidence on what had the operator done in terms of bringing in buyers? (Mr Ooi Eng Hock- M31457)

Mr Ishihara said that no membership was sold after 23/072007, as the Club had been scaled and the Management of the Operator evicted from the premises. Mr Ishihara also said he has evidence supporting his activities in introducing potential buyers to PDNB.

4.5 What are the options available to the members? Is the Trustee and operator willing to help them? Why has Trustee not brought any solicitors from KL to assist/advise members? (Mr Ong Cheow Chan -30339)

Mr Ravi said that PB Trustee Services Berhad is still effectively the Trustee for members of the Club. Trustee would be willing to assist the members and would like to know what the members want to do further, Mr Ravi said that the Trustee does have their own panel solicitor in KL but was not sure whether the members want to retain solicitors familiar to them from Penang region. The Trustee was informed that the Operator has invited two solicitors to advise members at the EGM and they are present.

4.6 The Chairman invited the solicitors to advise the members on their legal position, current status of their rights and course of actions that they can pursue.

5. Explanation from Solicitor (Mr Daniel Ng)

5.1 Mc Daniel Ng advised members that they currently have a licence hg±ernent with the Operator to enter the c1upremises and use the clubs facilities, which is not a proprietary right, andthis right can he revoked by the Operator anytime.

5.2 When the members lose the right to enjoy their privileges under the licence agreement, they have a course of action under contact against the Operator, Suasa Kristal (M) Berhad. Should the members sue the company and get an order df winding up against the company, it would only be a paper judgement and they would stand only as unsecured creditors with other creditors of the company.

5.3 The members must find an effective way to handle this problem. His suggestions were to question the R&M’s actions whereby the R&M has two options :

1. Either to sell the Club without any obligation to members, OR
2. To sell the Club to the right party whereby the member interests are protected.

5.4 The right party which can decide on this issue would be a judge in a court of law, which means the members need to bring an action in the court. PDNB would probably argue that they are a secured creditor as against the members, who only have a contractual agreement. Thus PDNB would deny any obligation or responsibility to the members.

5.5 Looking at another branch of law, we can ask to review the actions of PDNB and the R&M on whether their actions are reasonable and justified. Here, members may ask the court to grant an injunction to prevent the sale from being concluded and to ask the court to direct a proper sale process by way of open tender, wherein all interested parties would be given a chance to bid for the properties, including members who have the funds.

5.6 Datuk Dr. Yee Thiam Sun -M0448 put forward a motion to make a public appeal to all relevant government bodies, seek and ensure that the land which should be currently gazetted as recreation land, is still maintained as a golf course to secure the public interest of the hundreds of members, who are innocent members of public.

6. Election of Action Committee (AC)

6.1 - Trustee invited members to put up nominatio and elect members to the Action Committee which can then representll members and pursuing actions n behalf of members.

6.2 The following Action Committee comprising 9 members was elected by members by show of hands, in the election process conducted by Trustee.

Chairman : Mr Billy Yeoh See Ling (M1577)
Vice Chairman: Representative of Malay members to be appointed by the Action Committee later
Secretary : Mr Lau Heng Loon (C11781)
Treasurer : Mr Ng Looi Seng
Committee Members:
1. Mr Pang Zip Yiap (M0913)
2. Mr Eng Teik Moh (30938)
3. Mr Michael Geh
4. Mr Koay Ewe Sneah (M0077)
5. Representative of Japanese members to be appointed by the Action Committee later.

7. Chairman’s Address and Motions Passed

7.1 Mr Billy Yeoh, as Chairman of the Action Committee (the AC), thanked all members for their co-operation and support during the election process and thanked the Trustee for conducting the elections.

7.2 The Chainan tabled a motion seeking members’ mandate for the Action Committee to take all decisions deemed necessary to pursue relevant actions in seeking to protect interest of mernber and to seek remedy, redress and restitution of members’ losses. The motion was approved unanimously by all members present.

7.3 The Chairman further said that the first order of business the for AC would be to hold their first meeting within a week, then to retain solicitors to seek legal advise before pursuing further. The AC would also liaise and work with the Trustee on forthcoming issues and actions.

7.4 Datuk Dr. Yee Thiam Sun -M0448 suggested that the AC should make a press statement/announcement on the predicament of members soon, in order to put all Government organs and relevant authorities to notice on the current state of affairs. This would invite promptr action from the relevant parties and response from PDNB anR&M. Members agreed for the AC to proceed.

8. Other Matters Arising

8.1 Mr Billy Yeoh proposed that all members contribute o a fund that the AC can utilize to pay for expenses related to the actions to be taken to protect members’ interest henceforth, at RM200.OO per Golf Member and RM8O.OO per Family Member. This proposal was approved by all members present and the AC commenced collection for the fund
immediately.

With no further matter to discuss, the meeting was adjourned at 5.45 p.m.

Prepared by:
Ravi Krishna lyer
Manager PB Trustee Services Berhad

Confirmd by:
Billy Yeoh See Ling (Mship No.M1577)
Chairman
Action Committee

Important Notice - Letter to Suasa Kristal

2007-09-28T21:32:00.001-07:00

Kristal Golf Resort Action Committee is gathering signature of members and is writting to call for a meeting with the Company, Suasa Kristal (M) Bhd., The Receivers & Managers Suasa Kristal (M) Bhd. c/o MustaphaRaj Sdn. Bhd.

The letter to Suasa Kristal and the receiver &managers is to requisite for EGM to demand golf course be opened immediately.

The minutes of AGM will be available by next week. If anyone wants a copy, pls contact PB Trustees or Billy Yeoh, Lau Heng Loon for a hard copy or we can e-mail to you or fax to you.

To help the Action committee work effectively, please pay up the RM200 towards the membership action fund.

Contents of the letter to Suasa Kristal (M) Bhd are as follows :-

We, the members of Kristal Golf Resort, hereby requisition pursuant to section 88(1)(h) of the Companies Act, 1965 and in accordance with the terms of the Approved Deed, a meeting of members for the following purpose:

(1) that the Company, Suasa Kristal (M) Bhd, lay before the meeting the accounts and balance sheet which were laid before the last preceeding annual meeting of the Company;

(2) lay before the meeting the last audited statement of accounts of the Trustee;

(3) that the Company is directed to reopen all facilities of the Club to al members, guest and visitors forthwith;

(4) that the Trustee shall make written request within 7 days to the Company, requiring it to make available to the Trustee and Representative and to an approved company auditor appointed by the Trustee, for inspection the whole of the books of the Company whether kept at the registered office or elsewhere;

(5) that the Trustee shall make written request within 7 days to the Company, requiring it to give to the Trustee and Representative written information as they required with respect to all matters relating to the undertaking, scheme or enterprise of the Company or any property (whether acquired before or after the date of the Deed) of the Company or otherwise relating to the affairs thereof, including but not limited to, written information in respect of the sale of the Company's assets;

(6) that the Trustee shall within 14 days render an account of the sinking fund since the establishment of the fund;

(7)that the Trustee shall take such necessary action within 30 days, including but not limited to, initiating legal proceedings to compel the Company to account for the sinking fund collected and to recover from the Company any sinking fund colected by the Company but not paid into the trust account administrated by the Trustee;

(8) that the Trustee shall take such necessary action within 30 days, including but not limited to, initiating legal proceeding to compel the Company to use its best endeavours to carry on and conduct its business in a proper and efficient manner, including the reopening of all facilities of the Club to all members, guest and visitors forthwith;

(9) that the Trustee, Representative and Company are to comply with such other directions as the meeting thinks proper;

Golf resort members in the lurch

2007-09-22T16:39:00.000-07:00

Saturday September 22, 2007
Golf resort members in the lurch

Kristal Golf Resort Members Action Comittee secretary Lau Heng Loon (right) having a discussion with the legal advisor Lee Khai (left) after the press conference at Green House restaurant, Bukit Tambun, with them is the committee chairman Billy Yeoh See Ling (2nd right) and vice chairman Zakariah (2nd left). NIBONG TEBAL:Kristal Golf Resort Action Committee chairman Billy Yeoh See Ling said more than 200 members who attended an extraordinary general meeting on Sept 9 adopted a resolution which strongly opposed the closing down of the resort which is located in Jawi near here.
“We call upon the Pengurusan Danaharta Nasional Berhad, the receivers, and the purchaser not to develop the property for other purposes other than its original operation as a golf resort,” Yeoh said.
He claimed that there were other bidders for the property who intended to continue its operation as a golf resort but their offers were rejected.
“I was told the property was sold for RM21mil,” he added.
Yeoh said the members were left in the lurch after the resort closed on July 23 without any notice.
“There were about 1,400 members who included 300 Japanese expatriates and 150 foreigners of other nationalities, “ he said.
He claimed that the golf course was rated as one of the 10 best resorts in the country and had been patronised by a former Yang Di-Pertuan Agong, sultans, governors and ministers.
“Every year, about 1,200 to 1,500 golfers from Korea would come here to play golf during their winter season,” Yeoh added.
He said the action committee, which was formed during the EGM held at a nearby restaurant, would meet Chief Minister Tan Sri Dr Koh Tsu Koon next week to seek his assistance to resolve the matter.

The Star - Star Golf 12th August 2007

2007-09-22T16:25:00.000-07:00

Reclaimed by the forest
The closure of Kristal does not come as a surprise, given the difficulties the club was going through.
EDITORIAL:BY WONG SAI WAN
HAPPENED to be travelling north two weeks ago when a colleague called and asked if I was a member of the Kristal Golf Resort.
When I inquired why he was asking, this non-golfer burst out in laugher and said the club had closed down and over 1,400 members left in a lurch and a further 150 employees out of a job.
In the words of another fellow golf journalist, the forest will soon reclaim another golf course.
What happened at Kristal did not surprise me because there had been many stories floating around about the difficulties the club was going through after the 1997 Asian Financial Crisis.
Now it turns out that Kristal, which is located in Jawi, Penang, had collected more than RM50mil in membership fees, in addition to the monthly fees of RM115 for corporate members and RM88 per month for individual members.

Members of the golf resort at Sungai Bakap staging a peaceful demonstration after they were prevented from entering the premises.According to the members, the closure was unannounced and sudden. Two hundred of them then staged a protest outside the club, demanding an explanation from Suasa Kristal (M) Bhd.
Members claimed they were not given any notice of the closure and were shocked when they turned up to play golf two Mondays ago and learnt that the company had come under receivership.
On the main gate was a huge signboard that said CLOSED and a note asking them to contact managing director Ishihara Shotaro for further information.
Shotaro, who was also present outside the club to witness the protest last Friday, said he received his termination letter on Monday.
The club, which opened in 1993, has a large expatriate membership, including 300 Japanese members with others from Britain, the United States and Taiwan.
The workers have lodged a report to the labour department and word has it is that the members are trying to seek redress legally.
To be fair, Kristal was (past-tense is being used here because I doubt the course can be re-opened soon) not the only golf club to run into trouble after 1997.
According to industry sources, many owners of the clubs, constructed in the late 1980s and early 1990s, were just too ambitious in their development.
“While most were courses built as part of a mixed housing-commercial development project, there were others who relied too heavily on the course to bring in the money.
“The clubhouses that were built were just too luxurious. They were more akin to palaces than functional premises to house facilities for members,” said a former senior manager, who has served at several clubs.
The closure of Kristal is a huge blow to the golfing community in the north and to Penang’s tourist attraction efforts.
Three years ago, the five clubs in Penang - Penang Golf Resort, Bukit Jambul Country Club, Bukit Jawi Golf Resort, Pearl Island Country Club and Kristal Golf Resort - formed a consortium to turn the state into a preferred golfing destination in the region.
Called the Penang Golf Circuit 2004, it was to be a new tourism package to target Japanese and South Korean tourists.
But sadly, after 2004, the circuit did not make much headway and the Japnese and South Koreans prefer the courses and facilities in the Klang Valley.
Kristal is not the only club to close in the state. Pearl Island Country Club is also no more. It has been bought over by a well-known developer who is turning it into a housing project.
After hearing about Kristal, I purposely took a drive past the Pearl Island site and the fairways and greens are gone - all bulldozed with only brown earth left. At least this is one course that the forests won't reclaim.

China Press 29th July 2007

2007-09-21T20:49:00.000-07:00

水晶高球場突關閉逾1400會員要求交代

(爪夷29日訊）公正黨要求檳州政府即刻介入，調解華都打昔路水晶高爾夫球俱樂部突然關閉事件，因已導致1400余位會員權益及高達4000萬令吉會員費的嚴重損失事件。
該黨峇都交灣區主席劉子健是在接獲高爾夫球俱樂部會員的投訴及與部份會員瞭解后，發表文告。
他表示，此事件涉及多個層面，其中包括數十位被解僱的俱樂部職員、逾1400名俱樂部會員，甚至多位購買位于該俱樂部內的獨立別墅的產業投資者。
他說，這是一個集勞資糾紛、產業買賣合約，以及俱樂部會員籍投資行為的案件，當中有關連的政府單位包括人力資源部、房屋及地方政府部、青年體育部、州政府內相關單位。
他說，該黨要求檳州首長許子根嚴正看待此事，因它涉及檳州政府名譽、外國企業投資，尤其今年時值大馬旅遊觀光年。
涉及4000萬令吉
他也要求業主馬上安排會議，與行動委員會對話，尋求雙方都能接受的解決方案。
投訴者向劉子健表示，當初投資俱樂部會員籍的資金從2萬到4萬令吉不等，平均每名約3萬令吉，以該俱樂部有逾1400位會員來計算，最少是一場涉及4000萬令吉的案件。
他說，不知所措的投訴者要求業者，清楚告知會員權益是否有所損害，如何交代他們會員籍，以及何時可恢復使用俱樂部設施等課題。
他建議行動委員會針對此案件向警方報案，讓警方插手調查此案。
疑財務陷困
威南區首間創立的高爾夫球場疑因財務陷困，拖延多時后終面臨關閉命運，令1400名會員及80名員工深受影響。
據悉，由于面對財務問題，該俱樂部于上週一起被接管及關閉，所有會員禁止入內，而80位員工也遭停職命運。
禁止會員進入
這間成立13年之久，是區內首間高球場俱樂部，地點位于華都打昔路，于1994年日本公司斥資8000萬令吉開創立，佔地287英畝，擁有18洞球場。
該俱樂部目前擁有1400名個人及私人籍會員，其中有300名是來自本地日本公司，其中計公司會員入會員費4萬2000令吉，個人會員3萬6000令吉。
由于不滿接管司在未事先通知下，突然禁止會員進入，令會員們深感不滿，感到會員權益被剝削。
為抗議接管司在未通知會員的情況下倉促關閉及禁止會員入內，約百余名會員昨午聚集在該球場之大門口處舉行抗議行動，並成立行動委員會與接管司斡旋。
除了水晶高爾夫球場俱樂部外，威南區另有一間位于爪夷的皎誼嶺高爾夫球場。