Tag: retiring in a condo

Condo Living: Beware of the Terrible MCST

Everyone who lives in a condo in Singapore knows how important their MCST and/or management is. Since the voting to elect the MCST is done at the AGM based on the principle of “one-unit-one-vote”, and normally only a fraction of the owners tends to attend the AGM, a minority well-organized group can “seize control” of the MCST by collecting the required number of proxy votes. In Singapore, this has given rise to some horror stories of out-of-control MCSTs. So retirees beware – if you are planning to enjoy your retirement in a condo, make sure you do due diligence of the type of MCST that is controlling your condo!

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