The Challenge: From Disarray to Direction
When MJBTS engaged with Ammco Management Ltd in August 2025, the company was in a state of administrative and operational disarray. As a resident-led management company for a block of four flats, it faced significant risks due to a non-existent governance framework, critical compliance failures, and a lack of professional management.
Key issues included inconsistent financial records, no central repository for legal or maintenance documents, and a purely reactive approach to management that left all stakeholders (the flat owners) exposed to potential legal and financial penalties.
The Solution: A Root-and-Branch Overhaul
MJBTS was brought in to serve as the executive third-party managing agent and implement a full-scale professionalisation of the company. This was not a simple advisory role; it was a hands-on turnaround project executed in several phases:
- Conducted a full-scale corporate governance overhaul, correcting all statutory records and formalising director roles.
- Developed and executed a strategic business plan to move the company from a reactive to a proactive state.
- Designed and deployed a secure, cloud-based "Company Suite" to act as the single source of truth for all documentation.
- Instituted new financial controls and processes to ensure stable, transparent, and consistent fee collection.
- Established regular communication channels with residents to foster transparency and trust.
- Created a maintenance schedule and budget plan to ensure the long-term upkeep of the property.
- Provided ongoing training and support to resident directors to empower them in their governance roles.
- Formalised the service fee arrangements and set up binding contracts.
- Implemented a new regulatory compliant process for share certificates.
- Implemented a new formal resolution system (e.g., `2025/1`) for a clear and auditable decision-making trail.
- Took over all compliance and secretarial duties to ensure all regulatory filings were met on time.
The Results: A Stable & Professional Entity
Within a matter of months, Ammco Management was transformed from a high-risk entity into a stable, compliant, and professionally managed organisation. The key outcomes include:
- Achieved 100% compliance with all statutory and regulatory filings.
- Restored financial stability and transparency for all residents.
- Established a secure, permanent, and accessible digital archive for all company records.
- Created a clear strategic plan for future maintenance and financial health.
- Eliminated the administrative burden from resident directors, allowing them to have clear, high-level oversight.
This project serves as the foundational case study for MJBTS, demonstrating our ability to diagnose and solve complex operational, financial, and governance challenges for residential management companies.