The property manager of  four condominiums went missing with the fund of the Management Corporations (MCST) she managed. The total missing fund is estimated to be more than $200,000/-. Adis Villas, Sophia Apartments, Mount Sophia Apartments and Pelikat Mansions were  the condominiums reported to be managed by the same property manager. Police reports had been lodged by the respective MCST Council.

Earlier this year, the MCST of The Arcade commenced a civil action against its managing agent when more than $4 million of MCST fund went missing with the property manager employed by the managing agent. Police investigation was also reported to be ongoing.

For many years, the professional bodies representing the property and facility managers have been urging the authority to impose compulsory accreditation and licensing of managing agents and property managers. But not successful. With an increase in fraud been reported, the way MCST fund is managed by the managing agents and property managers should not be ignored any more.