Menara UOA Bangsar management committee ‘paralysed’ by resignations, says report

PETALING JAYA (Aug 22): The management committee (MC) of Menara UOA Bangsar (pictured) has been “paralysed” by the resignation of seven out of its nine members, reported The Star.

According to one of those who left the committee, Datuk Satharuban Sivasubramaniam, Menara UOA Bangsar Management Corp chairman, the resignations came about because of “an impasse over various issues, one of which was the number of committee members it should have”.

Satharuban told The Star that those who resigned were from Tower A (which had been sold to individual owners) while the two who did not resign were from UOA Group, the owners of Tower B.

“UOA REIT proposed to reduce the number of committee members from nine to three and the seven who resigned were against the proposal. They [UOA REIT] wanted to control both the buildings,” Satharuban explained.

UOA REIT is part of the UOA Group.

According to the same report from The Star, there was also a dispute over the management of accounts and financials of the Menara UOA Bangsar MC.

Satharuban said there is currently a cash surplus of about RM16 million in the accounts.

Meanwhile, an UOA source told the English daily that it now cannot “say how much (of the RM16 million cash surplus) belongs to Tower A and B as a result of the MC combining the accounts of both blocks”.

“Both the blocks have different specifications and so income and expenditure differ.

“In order to be accountable to shareholders, we need to keep separate set of accounts. We have been doing this until this set of management committee came into office,” The Star reported the source saying.

Satharuban, however, told the daily that “there is no such thing as which belongs to Tower A and Tower B”.