Audited Financial Statements December 31, 2013 and 2012

UPDATE (09.12.14):  Here is Note 14 with the obtained breakdown as it would have appeared for greater transparency.  Hmm, just enough room in the empty space of the original:

 

 

UPDATE:  See the following post for breakdown regarding Note 14 - http://sohocentralcondominium.blogspot.com/2014/09/breakdown-expenses-subcontractor.html

 

Audited Financial Statements December 31, 2013 and 2012

 

Previous posts for viewing prior to the new statements below:

http://sohocentralcondominium.blogspot.com/2014/03/audited-financial-statements-reports.html

http://sohocentralcondominium.blogspot.com/2014/03/audited-financial-statements-revenue.html

http://sohocentralcondominium.blogspot.com/2014/03/a-bit-of-cpa-analysis-on-soho-central.html

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(Click here for a .pdf of the 2012-2013 Audited Financial Statements.)

 

SCRT (Soho Central Rotten Transit)

SCRT (Soho Central Rotten Transit)

I have been told two more elevators have been put back into operation. I rode on one and did not see a government issued inspection notice. The ride also had a few odd movements with one being a bump going from the 21st to 35th floors. Given the history of the elevator disaster I can only anticipate problems. Additionally, even if they were all in operation, where are the government inspection notices so another party may take responsibility. Also, the entrances are not good. When will they be fixed.

 

I expect that a building sold would have had elevators that were properly functioning and entrances that did not now look crappy after repairs. I have taken and posted photos of floors 35 through 41 service elevator entrances. The lobby entrances also need work. I will be posting 30-34 soon. After the service elevator entrances have all been posted, I will start with the other elevator that had entrances dismantled.

LRT, MRT and now SCRT

LRT, MRT and now SCRT

But what do these stand for?  The first two are the Light Rail Transit and Manila Metro Rail Transit for getting around the National Capital Region.  SCRT is yet something else.  Soho Central Rotten Transit as it is in action not words in ads and any description of the building seems to mean paying and not getting and then to rub salt in wounds for wasting time.  I would estimate that anyone using the elevators for leaving and returning waste about 40 minutes to 1 hour each day.  We now have proper lines like the LRT and MRT and time will tell if we get turnstyles in the lobby.

Oh, maybe we can get those arrows painted on the floor so that those getting off are not faced with oncoming passengers refusing to get out of the way in a polite manner for those exiting.  I would not expect we get proper air circulation like the LRT and MRT.

China's but when Philippines'?

China's but when Philippines'?

Sorry to say but the bubble may be coming to the Philippines.  It is being talked about among investors.  There are differences but many issues that are ignored as in China.

60 Minutes' Lesley Stahl stated in the report below, "Here's a number I saw. A typical apartment in Shanghai costs about 45 times the average resident's annual salary."  I was told the average resident's salary in the Philippines is ₱150,000.  An average new overpriced condo in Metro Manila can be ₱6,000,000 which is 40 times the average salary.

China's real estate bubble

China's economy has become the second largest in the world, but its rapid growth may have created the largest housing bubble in history

 

http://www.cbsnews.com/videos/chinas-real-estate-bubble-3

Also stored at youtube: