Hi Mrs. JANANI MRS JANANI, Pardon me for leaving this message on your private Facebook. I promised this will be my first and it will be the last. But first allow me to introduce myself, my name is Susee I’ am shyam friend, I am a Singaporean and i know your husband since 2010. I believe you have sent me an SMS sometimes ago concerning him. Mrs. Janani let me clarify that I’m not writing this to ruin your marriage. As much as possible I do not want to comment regarding you and your husband to avoid misunderstanding. However, as his business associate, I am just concern about his well being, his business is facing financial difficulties and he may fall into more trouble. I am informing I am the only one who knows his real situation in Singapore; I am informing you because I believe as his wife you are the rightful person who can help him. God knows I have tried numerous times advising him but there was no use. I even took an effort to reach his Mother I have sent her an SMS on Sept 2013 informing her about shyam situation but she ignored me, during those days his loan has just started increasing, If only she take the effort to investigate the given information she could have save his son from this trouble. Before I begin Let me provide you a little information about me and Shyam. Shyam and I met in 2010 when I first met him he was a jobless, I even lent him 1,800 to pay his room rental, I am the one who influenced him to become a businessman. He took 4,500 loans from bank and we started hostel business in Malaysia for 6 months, thereafter; we decided to borrow $150,000 capitals from his late girlfriend name Madvi. On 2011 we move back to Singapore and started business called PINOY HOSTEL at 74 TYRWHITT ROAD we used up all the money on licensing, renovations and furniture’s. However, after 3 months ‘without my knowledge’, Shyam signed yet another contract an agreement stating that our landlord has no liability in case he breach contract! After 6 months the landlord breached our contract and the invested $150,000 turned into trash! Fortunately, during those 6 months hard work we gained profit of 68,000 however, the profit was not enough for our next hostel project, with shyam full awareness I pawn some of my gold’s and used my currency savings, through hard works and determinations we have raised 80,000 capitals and move to 45 SYED ALWI ROAD. The business established with only 80,000 capitals and 99% of our tenants are Filipino; undoubtedly shyam wouldnt have done this alone without me. Through this business profits we bought Hyundai car and a motorbike. Through this business profits, shyam was able to support his family, I was the one who arranged places for them to stayed comfortably while in Singapore, they also conveniently traveled around Singapore with the car we bought. Through this business profits, shyam was able to open another business called SAM THE BUILDER I was completely against it, he was influenced by his Indian friend and they operated illegal activities. Soon after he was caught by Ministry of Manpower (MOM) and was forced to close the business. Through this business profits, he was able to travel India many times. It was fruitful returned, I believe it was syham luckiest years in Singapore and you can imagine the rest. On August 2013 shyam insisted to take over the whole building (45 syed alwi road) with rental $18,000 on 1st floor and $14,000 on 2nd floor total 32,000 per month! I did not agree and I decided to sell my share to him for $50,000 With the help of Mdm nananben he found an investors for 200,000;. He paid the landlord 3 months deposit of 98,000. He then paid me 20k as partial payments, the balance of 30k was promised to pay me on 30th Oct 2013 with promissory note signed by him, however, to date no payment made. On 24n September 2013 after his returned from India he borrowed 12,000 from me to pay your condo rent and furniture’s and only 7,000 has been paid so far. His problems started since I left the business on Sept to Dec 2013 the hostel suffered a great lost. During this crucial time as shyam’s soul operator, he traveled to India 2 times. He spent the investor’s money that is supposedly for the renovation and to start the business on 1st floor. He ignored his responsibility on 1st floor that running at loss with 18,000 monthly rentals. He totally lost his concentration on the business due to family problems. He also spent the hostel income that is supposedly to pay the rental and other hostel bills. He also neglects the hostel’s tenants’ wellbeing that left the hostel half unoccupied thus; the income was not enough to sustain the business. On January 2014, In order to save at least the 2nd floor PINOY HOSTEL, we decided on a Joint venture written agreement, I paid $14,000 to the landlord as partial payment for shyam overdue rental; I spent another 2,300 to improve hostel facilities. Furthermore, on Feb 2014 under our joint venture operation he took $14,178 As you may know since Sept 2013 the coffee shop 1st floor still closed yet he is continuously liable to pay rental as a result the deposit (96k) has been utilize and the invested money has drained to ZERO balance. Now Shyam owe our landlord yet another 3 months deposit and since there is an overdue and inconsistent in payment the landlord gained rights to take over the whole building 1st and 2nd floor anytime thus, the business is now of no value. 1. He owe 96,000 to the landlord (3 months arrears) 2. He owe investors a total of 200,000 (excluding interest) 3. He owe various BANK loans, CREDIT CARD bills, CPF, TAX amounting to almost $40,00 and still increasing with late penalty charges etc.. (he over used his credit card between Nov-Dec 2013 he recently received noticed of bankruptcy from standard chartered bank) 4. He was caught and fine 16,000 for driving the car without insurance between end of Sept to Dec 2013 5. He is also in debt with Singapore telecom amounting to $2,499 for his long distance call to India 6. The car we bought has been revokes due to monthly installments failure 7. He also lost his motorbike. 7. He owe me a total of $79,300 including 30,000 balance from agreement 5,000 balance he owe me 14,000 his 2nd floor overdue rent 2,300 hostel expenses 28,000 renovations and furniture’s on 1st floor Shyam lost everything within 4 months and is now heavily in debt it is almost impossible for him to pay all these loans even if he works very hard for the next 10 to 20 years. He may be sue and or declare Bankrupt anytime and if this happen, his Permanent Residents status may be at risk. Shyam needs financial support and as his wife I truly believe that is also your obligations to help him settle his problem. Shyam will definitely deny these claims, as he does not want his Mother to know that he is facing difficulties here. But think about it, do you think I am immature saying all this and put myself at risk? I assured you I am capable to prove my claims. Please investigate this matter yourself, do not make the same mistake like his mother did. I know you didn’t expect shyam to be heavily in debt but just learn to embrace it, your life will be spoil if you don’t help him as he may not be able to support you for years. IF YOU ARE IN DOUBT, YOU CAN VERIFY THESE CLAIMS. You can ask Mdm Nanaben regarding investor’s 200k. (She is the guarantor). All his bank loans, bills and lawyers demand letter address in 45 syed alwi road You can also call Mdm chong our landlord for his overdue rental You may also check your landlord if he is paying your rental regularly. Monitor your mail box Please do not ignore this advice. Shyam needs help Thank you so much for your time. Regards Susee I did some breakdown list for you to understand the hostel income Hostel equipped with 41 DOUBLE DECK BEDS X 2 $350.00 PER BED PER MONTH BASED ON 100 % Occupancy $350 X 82 beds, total income $28,700 Deduct monthly expenses 1. $14,000 Rental 2. $3,000 utilities bills 3. $300 internet 4. $300 Susee phone bills 5. $300 Sam phone bills 6. $100 advertising on pinoysg 7. $ $200 others gas, plastic bags, air-con service, cleaning materials. 8. $340.00 Hundai car installment 9. $1,400 Albert Salary 10. $ 380.00 monthly Levy for one worker In order to keep one worker we need to pay 3 CPF 11. $ 1,000 Sam CPF 12. $800 Susee CPF 13. $600 one more worker CPF TOTAL expenses $22,660 GRAND TOTAL PROFIT for 100% occupancy $6,080 Soon after I left this business, the hostel occupancy drop by 43% leaving 36 beds vacant. Unquestionably, the income is not enough to sustain all the expenses. From this breakdown cost you will know why shyam is in debt. I am sure by now you also know that he no longer drives the car anymore and that Albert no longer working for us as we can’t affords to pay his salary anymore. Thank you for your Time Regards Susee
Posted on: Sun, 16 Mar 2014 06:35:29 +0000