Which golf club will you advise to join after the announcement?

Anyone selling OCC full member?

Bangla123 wrote:

Join me , buy Sentosa

The island?

Bangla123 wrote:

My apologies , I just realized that it might not be practical for most.  Perhaps seletar is a better buy

Before you purchase any Golf club membership always look at the Transfer fee against your purchase price! The other thing to
look for is when club lease expire? If transfer is more than 50% of your purchase I would think twice.

skybobo wrote:

Laguna is pricing their membership at $170k now. Just approach their membership dept. they are actively selling their thru 2040 membership. They are returfing Masters course now and building hotel and driving range.

Last heard they are building an 18 hole putting course. 

Short hitter should have loads of info

From "active golf broker site" i am seeing today price of 36K, am i missing something here?  i realize Laguna is offering membership @ 170K but why anybody would buy membership from them so much higher then secondary market?

eqtrend wrote:

skybobo wrote:

Laguna is pricing their membership at $170k now. Just approach their membership dept. they are actively selling their thru 2040 membership. They are returfing Masters course now and building hotel and driving range.

Last heard they are building an 18 hole putting course. 

Short hitter should have loads of info

From "active golf broker site" i am seeing today price of 36K, am i missing something here?  i realize Laguna is offering membership @ 170K but why anybody would buy membership from them so much higher then secondary market?

Because secondary market is only till 2021, we are the only club with an extended lease. $170k is till 2040. if you buy $36k you will have to top up at 2021.

Short hitter is right

After last Sunday laguna is no longer the only club with an extended lease running till 2040...

Any idea whether current members (of clubs with soon to be extended leases) will have to pay a top up fee similar to that of Laguna ? For example, if Sentosa's membership costs around $250k at the moment, would additional top up fees have to be paid to extend the lease ?

garath1981 wrote:

Any idea whether current members (of clubs with soon to be extended leases) will have to pay a top up fee similar to that of Laguna ? For example, if Sentosa's membership costs around $250k at the moment, would additional top up fees have to be paid to extend the lease ?

Totally depends on the coffers of each club and the expansion/renovation plans they have.. laguna case is unique..

Thus, you have to call up the club and check...

chien wrote:

After last Sunday laguna is no longer the only club with an extended lease running till 2040...

Bro chien is also right

try to stAY oFF proprietary club ( members dont own the club, the owners call the shots, the law disallow jackpot machine for such clubs), most owners are profit driven.
u r usually better with members' club ( members collectively own the club, jackpot machines are allowed)
so if u r not sure which club is which just ask if they have jackpot machine !

caveat emptor.

 In the long run we are all dead- John Maynard Keynes


by 2030-40 the 300k n more of the  new homes being built now in Johore will be filled up by us, and those that have time will be happily golfing in a faraway land. Those left on the esteeemed and priviledged red dot will be so busy raking it in that it really doesnt matter which or any club they have, as they will have little time for it. Such is the paradox of life.

Tigercrab wrote:

try to stAY oFF proprietary club ( members dont own the club, the owners call the shots, the law disallow jackpot machine for such clubs), most owners are profit driven.
u r usually better with members' club ( members collectively own the club, jackpot machines are allowed)
so if u r not sure which club is which just ask if they have jackpot machine !

caveat emptor.

That's the reality of life. Members in such owner's clubs have no control on what is going to happen to the club. Membership can grow, so is subscription fee, buggy fee & others. Classic example is what happened to NSRCC 2-3 years ago, green fee increment and there is nothing you can do about it.

TDO wrote:

I wonder if Laguna is also Proprietary?   

Yes. . Haven't you heard all the stories? ?

chien wrote:

TDO wrote:

I wonder if Laguna is also Proprietary?   

Yes. . Haven't you heard all the stories? ?

Don't believe everything you hear!

chien wrote:

TDO wrote:

I wonder if Laguna is also Proprietary?   

Yes. . Haven't you heard all the stories? ?

Is Peter Kwee the owner?

Turbo wrote:

chien wrote:

TDO wrote:

I wonder if Laguna is also Proprietary?   

Yes. . Haven't you heard all the stories? ?

Is Peter Kwee the owner?

http://www.lagunanational.com/club-profile

Sole proprietorship clubs are being operated like a business, where the members have no say, only the owner decides. Classic example is Pinetree/ The Pines. Purchased in the 90s for 30k+. The then owner defaulted on a debt and Peter Kwee bought it for 100mil and renamed it to the Pines. Members had to chose to pay 14k or forfeit the membership. Chose to pay the 14k, and now club is sold for 300+mil, but members don't earn a cent and membership is pretty much worthless.

uluangler wrote:

Sole proprietorship clubs are being operated like a business, where the members have no say, only the owner decides. Classic example is Pinetree/ The Pines. Purchased in the 90s for 30k+. The then owner defaulted on a debt and Peter Kwee bought it for 100mil and renamed it to the Pines. Members had to chose to pay 14k or forfeit the membership. Chose to pay the 14k, and now club is sold for 300+mil, but members don't earn a cent and membership is pretty much worthless.

I have a personal friend who is a member of Laguna National Golf & Country Club. He told me he has no plan to top up $80k per the requirement of Laguna in order to extend his membership and he therefore will let it lapse eventually ...

uluangler wrote:

Sole proprietorship clubs are being operated like a business, where the members have no say, only the owner decides. Classic example is Pinetree/ The Pines. Purchased in the 90s for 30k+. The then owner defaulted on a debt and Peter Kwee bought it for 100mil and renamed it to the Pines. Members had to chose to pay 14k or forfeit the membership. Chose to pay the 14k, and now club is sold for 300+mil, but members don't earn a cent and membership is pretty much worthless.

Hmm.. Should we believe what we heard.. ???

chien wrote:

uluangler wrote:

Sole proprietorship clubs are being operated like a business, where the members have no say, only the owner decides. Classic example is Pinetree/ The Pines. Purchased in the 90s for 30k+. The then owner defaulted on a debt and Peter Kwee bought it for 100mil and renamed it to the Pines. Members had to chose to pay 14k or forfeit the membership. Chose to pay the 14k, and now club is sold for 300+mil, but members don't earn a cent and membership is pretty much worthless.

Hmm.. Should we believe what we heard.. ???

The abovestated facts are accurate insofar as they relate to Pinetree being bought over and renamed as the Pines. I was an original member in Pinetree, paid $25k of my hard earned money after my first year of work. When the china man owner deafulted on some highway / toll project, the club was included as part of his pool of assets subject to bankruptcy proceedings. I considered topping up to remain a member of the Pines, but thank goodness I decided not to sink more $ into a leaky ship.......

chien wrote:

uluangler wrote:

Sole proprietorship clubs are being operated like a business, where the members have no say, only the owner decides. Classic example is Pinetree/ The Pines. Purchased in the 90s for 30k+. The then owner defaulted on a debt and Peter Kwee bought it for 100mil and renamed it to the Pines. Members had to chose to pay 14k or forfeit the membership. Chose to pay the 14k, and now club is sold for 300+mil, but members don't earn a cent and membership is pretty much worthless.

Hmm.. Should we believe what we heard.. ???

In theory I could buy SBS transit and change the name, up the prices and say all existing cards are invalid you have to buy a new one.

Yes there are a lot of people like that, and they have to weigh up will they still be playing golf in 2021, if not then no point topping up.

Bottom lime is we are selling many new memberships.

The owner signs the cheques but he does not have much to do with day to day running of the club.

Turbo wrote:

uluangler wrote:

Sole proprietorship clubs are being operated like a business, where the members have no say, only the owner decides. Classic example is Pinetree/ The Pines. Purchased in the 90s for 30k+. The then owner defaulted on a debt and Peter Kwee bought it for 100mil and renamed it to the Pines. Members had to chose to pay 14k or forfeit the membership. Chose to pay the 14k, and now club is sold for 300+mil, but members don't earn a cent and membership is pretty much worthless.

I have a personal friend who is a member of Laguna National Golf & Country Club. He told me he has no plan to top up $80k per the requirement of Laguna in order to extend his membership and he therefore will let it lapse eventually ...