The Association & Its Asset The Context and Rationale for the Proposed Disposal of the Association Property

The Association Our Association has a long history (existed as early as 1919), albeit most of it remains unknown. It has achieved a lot over the decades, especially for MBSKL. However, as an organisation, it falls far short of excellence. At best, objectively, it is mediocre. There is a lot of room for improvement.

Current Realities As a subscription-based organisation, our Association has been languishing for many years. As at 1 January 2009, our total membership was 460. As at 20 June 2011, it is 567 (out of an estimated 50,000 MBSKL alumni who graduated after WWII). Drifting from one term to the next with little positive developments of the organisation itself. To most MBSKL alumni, MBSalumni does not mean much to them – it does not fulfill any real need.

Vision and Mission Formulated in 2008 Vision A premier alumni association that makes a difference for its members, MBSKL and Malaysia. Mission To support MBSKL’s endeavours in providing quality education to students and also to enhance the prestige of MBSKL. To establish networks to link all alumni, the schools and related groups, that mutually benefit all stakeholders. To influence national education policies by creating and maintaining the highest standards of education in MBSKL.

Committee’s Commitment (1) The current committee is determined to change this state of affairs and fulfill the Association’s vision and mission. To sustain future existence of our beloved Association, it is vital to transform it, supported by both volunteers and full- time staff.

Committee’s Commitment (2) To execute new and sustainable strategies, including enlarging the membership base, generating long term cash flows and creating a youth section. It is the duty and responsibility of the Committee to act in the best interest of the Association and its members, without fear or favour.

Simple Formula Right People Adequate Resources Premier Alumni Association

But… Right People Adequate Resources

Asset: A definition asset | ˈ aset| noun a useful or valuable thing, person, or quality : quick reflexes were his chief asset | the school is an asset to the community. (usu. assets) property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies * With our limited resources, the Association Property is a powerful leverage we can use to propel the development of the Association.

Functions of Association Property The Association Property should serve as: 1.the secretariat or administrative office of the Association; 2.a clubhouse for the use and enjoyment of MBSalumni members; and 3.an asset to generate recurring income to cover the Association's operating expenses. Income- generating Asset Clubhouse Secretariat

Key Facts of the Association Property The land owned by the Association measures only 2,626 square feet. The leasehold tenure expires in less than 43 years. Express condition of title: The land can be used for association purposes only. Rental income generated is only RM3,500 per month. The Scouts Association has plans to re-develop BP House into a high-rise hotel. Property valued by Jones Lang Wootton in July 2010 at market value of RM1,000,000.

The (Responsible) Alternatives Keep Current Property Get title to car park land Convert land use to commercial Raise sufficient funds for refurbishment Collect pledges to cover monthly operating expenses (estimated more than RM10,000) Sell Current Property Top up proceeds of disposal Purchase another property suitable for our purposes Rent out part of premises at rental sufficient to cover operation expenses Use remainder of property as secretariat and clubhouse

Queries (1) Q:Shouldn’t the Association Property be ‘openly’ offered for sale? A:The Committee feels that it has negotiated a good deal for the Association, especially in light of current circumstances. That is why we are tabling it for the members for consideration. Should members believe that we can get a better offer by appointing a real estate agent and/or advertising, we are prepared to adjourn the EGM to a date not later than 3 months from today. We will reconvene the EGM for members to consider the proposed disposal.

Queries (2) Q:What are the immediate plans after the sale of the Association Property? A:The Committee will identify a suitable property to be purchased as soon as practicable (subject to members approval). Q:What if the value of the suitable property is higher than the disposal proceeds? A:The Committee will endeavour to raise the necessary funds by approaching generous MBSKL alumni donors. Q:Where would members go for its gatherings and other activities pending the purchase of another Association property? A:The MBSSKL principal has offered school premises. For “adult activities”, either public venues or some Committee members’ homes.

The Main Asset The main asset of any organisation is the people. In the case of MBSalumni, it is the committee members, all the members of the Association and full-time staff. With support and adequate resources, we can become a premier alumni association.

Recommendation of the Committee In light of our Association’s history and its objectives, and in pursuit of our Mission and to achieve our Vision, the Committee sincerely and strongly believes that the the proposed disposal of the Association Property is in the best interest of the Association and all its members. We recommend that you vote in favour of the resolutions tabled by the Committee.