Membership Buy-Back Scheme

I have been following this email thread between a couple of members and the GM on the above issue. I was waiting to see how this pans out before posting, but I think it is time to update the members at large and in exile.

Last week Ms. Ng wrote in to Mr. Hofer:
===
Dear Herbert,

We joined the club for about 4 years only for the facilities offered. As there is a material changed, the club has to offer Buy Back Scheme to members who not wish to continue with the membership. This was agreed in your briefing.

It is unreasonable to ask members to sell the membership at open market and pay the transfer fee.

We appreciate that you could look into it and give members a reply by next week. Otherwise, we have no alternative but to seek help at appropriate channel.

Regards
===

The GM wrote back to Ms. Ng:
===
Dear Mr Ng,

Thank you very much for your valuable suggestion on the buy-back scheme and sorry for the somewhat late reply.

We have explored your recommendations thoroughly and the management has concurred that, since there are agents who have interested buyers, excited by the new developments in the Legends Fort Canning Park, and willing to purchase the memberships in the open market currently, we need not implement a buy-back scheme and it will be more beneficial for you to sell it through this existing channel. Please feel free to let us know if you wish to sell your membership and we can make the necessary introduction.

We sincerely appreciate your feedback and look forward to your continuous support especially when we open again in 2009 with the revamped and improved Legends Fort Canning Park.

Yours sincerely,
===

Lyn also wrote in a couple of days after that:
===
Dear Herbert,

I agree with Ms Ng's views.

Given that (i) the club has changed its facilities and the use of the colonial building and (ii) the basis upon which members had purchased the membership no longer exists in view of the renovations, management should consider a buy back scheme to purchase the membership at a reasonable price.

Alternatively, management should assist members who are no longer interested in being members to sell their membership and agree to waive the monthly fees and transfer fees during the period when members are seeking buyers.

With respect to your email below, you mentioned that there are agents with interested buyers. If so, can you provide the details of such agents for our consideration as well? We are indeed curious to find out if there are really "interested buyers, excited by the new developments
in the Legends Fort Canning Park."

We look forward to your response.

Kind regards,
===

The GM wrote back:
===
Dear Ms. Ng,
At the members briefing the owners promised to "consider looking into a
buyback scheme" and as per my earlier e-mail we have given you our decision.
In case you wish to sell your membership we would recommend you to contact
Tee Up Marketing at 62980174, who has been transacting sale of memberships.
Very kind regards
===

The phone number given was wrong so he corrected it in another email as 6298 2559 or 9760 5080.

Anyhow, Ms. Ng wrote back to the GM:
===
Dear Herbert,

Sorry, where is your Buy Back Scheme? We appreciate that you address this issue and not push it to the sale agent. Buy Back Scheme and Open market sale are totally two different matters. Please don't confuse the members and delay this matter.

Please give members a reply.

Regards
===

There are more developments. I will post it later today.

Cheers!!!