Sonsak Na Pattalung, the newly-designated acting chief executive officer for the two troubled companies, said that after the recent management change within the Coco group, a thorough review has been carried out and a new management plan is being drawn up.

“The management team is fully aware of the issues on site and the first and most obvious matters to deal with are site security and utilities,” Sonsak said in an emailed report to stockholders.

Sonsak said management will then move on to address other issues such as standby power, communal areas, swimming pools, among other things.

He said changes would be made regarding the delivery of services and the administration of services and these would be done phase by phase.

“In the coming weeks, site security will be restored and a controlled access plan introduced,” he said, adding that “in the initial stages, owners, residents and guests will be issued with an access card that will allow entry past the site gate and visitors and contractors will be required to sign in.”

He also said that a security plan is being developed now, with details of the access system being finalized.

Work has already begun to restore site main water and lighting and infrastructure are being reviewed, according to him. He said he expects homeowners and residents to notice the changes within the next two weeks.

At the same time, billing for site services will be modified and an optional contract amendment offered, he said.

“At this stage, our view is that as site services are gradually restored, then payment contributions to services must also be restored,” Sonsak said. “As some owners will be aware, there has been, for a long period, an impasse whereas services deteriorated, payments also reduced. Unfortunately, this is a ‘Catch 22’ situation.” Continue reading →