PETALING JAYA (April 27): Industry experts have raised concerns over the low awareness regarding the importance of the sinking fund in strata management. “We always ask why pay money for the sinking fund when other people don’t? “If you have no money in the sinking fund, how are you going to replace the important things, such as fire fighting equipment like pumps and fire fighting tanks? “You shouldn’t simply touch the sinking fund as it is reserved for certain things only and should not be used for other purposes,” said Tan. Meanwhile, Lim noted that Singapore also faces the same issue with educating owners about the importance of sinking fund.

Source: The Edge Markets April 27, 2019 07:18 UTC