Hi all,
Recently I just paid my maintenance fees which amounted to RM 762.40.
Annual Maintenance Fee Year 2009:RM330.00
Annual Maintenance Fee Year 2010:RM373.00
Late Payment Interest :RM 59.40
Total :RM762.40
Amount Due Yr2009 LPI per month As at 1/7/2010
RM330.00 x 1.5%
x 12month =RM59.40
From what the above, it does give me a shock, though part of it I
should also be blamed for not paying the AMF BUT with that kind of
service, does anyone expect to pay for it after so much of hassle/
frustration/etc for not being able to utilize their entitlement? Do
they expect members to obediently pay the AMF?
Back to the topic, it does gives me wonder, if I don't plan to utilize
the entitlements from now on and not paying AMF for the going on
years. Lets make an example and have the AMF fees stagnant.
Year 2010 AMF = RM 373.00
By Year 2040
2010 AMF = RM 373.00 + (373.00*1.5%*12*30) = 2,387.20
~~~
2039 AMF = RM 373.00 + (373.00*1.5%*12*1) = 440.14
2040 AMF = RM 373.00
Total Amount Owing to BVC Year 2040 = RM 42,783.10
So eventually,by the end of the period of my membership rather than
having back my 38k, now I lost my RM 38k and still owe BVC RM
4,783.10. So at the end I'm SCREWED even though I don't plan to
utilise any of the entitlements.
NOTE : Please take note that the it was not calculated as compounded
interest. If that happens, looks like I'm going into deep debts.
Regards,
Brandon
Recently I just paid my maintenance fees which amounted to RM 762.40.
Annual Maintenance Fee Year 2009:RM330.00
Annual Maintenance Fee Year 2010:RM373.00
Late Payment Interest :RM 59.40
Total :RM762.40
Amount Due Yr2009 LPI per month As at 1/7/2010
RM330.00 x 1.5%
x 12month =RM59.40
From what the above, it does give me a shock, though part of it I
should also be blamed for not paying the AMF BUT with that kind of
service, does anyone expect to pay for it after so much of hassle/
frustration/etc for not being able to utilize their entitlement? Do
they expect members to obediently pay the AMF?
Back to the topic, it does gives me wonder, if I don't plan to utilize
the entitlements from now on and not paying AMF for the going on
years. Lets make an example and have the AMF fees stagnant.
Year 2010 AMF = RM 373.00
By Year 2040
2010 AMF = RM 373.00 + (373.00*1.5%*12*30) = 2,387.20
~~~
2039 AMF = RM 373.00 + (373.00*1.5%*12*1) = 440.14
2040 AMF = RM 373.00
Total Amount Owing to BVC Year 2040 = RM 42,783.10
So eventually,by the end of the period of my membership rather than
having back my 38k, now I lost my RM 38k and still owe BVC RM
4,783.10. So at the end I'm SCREWED even though I don't plan to
utilise any of the entitlements.
NOTE : Please take note that the it was not calculated as compounded
interest. If that happens, looks like I'm going into deep debts.
Regards,
Brandon