Received call from Ms Lim LG this morning and being told that:
- All the YZ Cheras Plaza members can tentatively practice at other outlets. The ones I can think of now are Taman Desa and The Weld as these 2 are the nearest and also notice that they have allocated more classes at Taman Desa, The Weld, Kepong and Plaza Damas outlets these 2 days.
- There will be a meeting between the new investor and members' representatives from Plaza Damas outlet on this coming Monday (8th Sep) @ 3:00pm at Plaza Damas outlet. Since there are so many doubts and without any proper notice to Cheras Plaza members since the closure on Wed, we can send few representatives to attend the meeting for clarification. Of course we can’t get everyone there, so is anyone from Cheras Plaza can represent us, could you kindly let me know via email yogalover88@gmail.com while others can let me know the queries and doubts we wish to clear. I will then post all the queries here for the representatives to ask on our behalf. We can have about 4 to 6 representatives. Sorry that I’m unable to take any leave on Mon, although I wish to represent the CP members to attend.
- Didn’t attend any yoga practice for weeks as most of the time couldn’t make it due to lesser classes and most of the time full. As a result, didn’t want to rush all the way at the worst traffic hours to the outlet anymore and end up the class is full or cancelled (as I used to make reservation all the time previously). Moreover the interval of the class is much longer and might be full also.
- Can't plan and tired checking the schedule every night as sometimes the schedule was posted quite late night.
- Clueless: in doubt whether any new investor comes in, so that can continue but WHEN? Or should I just look for elsewhere but will it be too early and should give the receiver some time to look for investor. There is no proper notice at all, especially the closure of Cheras Plaza in a sudden and I saw the notice personally at the outlet.
However, there is no point blaming anyone now as this is already the fact that someone has conned the money of YZ and left with an empty account (NO $$$). I’m not to side anyone here but just to cool down and analyze the whole case again carefully:
- Would it be better if the receiver not coming in as it is already the fact that YZ owed a huge sum to so many creditors? Did the RM99 help and how long could it survive or would it possible to clear all the debt? Answer this question honestly…
- Is it Lay Gaik’s fault? Is she the one owed the monies to all these creditors, teachers’ & staffs’ EPF, Socso, Income Tax and salaries?
- Would this RM88 another con and why should we existing members to pay for it? I didn’t participate the RM99 campaign as I didn’t support it since I lost confident and didn’t trust YZ anymore (since been conned) which only with a huge negative number in their account, full with huge debts which quite impossible to be settled. As for the RM88, I would consider until I see the new investor comes in as it is a new company already and no longer YZ. Of course I would never pay for yearly nor lifetime membership. Why I would consider to pay again? Because I want to continue my yoga practice in a nice environment and good teachers. Don’t let this YZ incident to stop the yoga practice as we know it benefits us. Do compare this price with other yoga centers or the newly setup yoga studios or RM150 for the new members, I think it is still the best price. Please don’t get me wrong as I’m not here selling for them, as I said “I WOULD CONSIDER UNTIL I SEE THE NEW INVESTOR”.
In fact, I posted few queries and doubts to Ms Lim this morning and she told that there is actually one same investor but would settle the outlet one at a time as there are too many outlets owned by YZ. They actually need to discuss and negotiate with all separate individual landlords at different outlets and agree that it is not an easy job as not all the landlords are so compromised when comes to the company’s benefit. The investor will take few more outlets beside Plaza Damas and Kepong but not all. Cheras Plaza sounds positive provided they manage to negotiate with the landlord who told will revert in 2 weeks time.
Last to comment, just to be fair for everyone. TJ has caused all these problems and we could be so nice and patient for him for months previously, why should we keep on pointing the fingers and pressure Lay Gaik. As I learnt something from my favourite teacher Jane last week, i.e. everyone keeps on talking about yoga but we just do the postures, where is our yoga mind. Recalled a post from Azmi in YogaJess’ blog about yoga mind. So, no point blaming TJ, Lay Gaik or the receivers. Lets do our best to continue our yoga practice and to have a peace of mind.
Ms Lim or the receiver or the new investor (if you do read my blog here), appreciate if you could always give notice and update to all the existing YZ members as we all are the victims of the YZ incident. Hope to be fair for us as well, don’t leave us in the dark…
27 comments:
Yoga Lover,
you said:"this is already the fact that someone has conned the money of YZ and left with an empty account (NO $$$)."
who u mean?u have any proper evedence to say who conned the money?now you seems on ms.LG side woh...because of she keeps contact with u?
hey,please...we are members,we are not on both side,and u are the blogger,should be fair for everyone.Try to learn from Yogajess,BE FAIR in all the time.
Hi anonymous,
Yoga Lover is a blogger, not press media rep, not necessary to be neutral.
While everyone has right to raise his/her voice, why not Yoga Lover?
Face the fact la, friend. Everyone thinks that yz money been conned already la.
dear anonymous(unknown) member,
yogalover is so kind hearted to update us the news here, we shd appreciate it!
YZ money has been conned.
Good la like that, next time I start a Yoga/Fitness Centre, get members apply for yearly membership, then I close it down, run away with the money.
Then somebody take over, charge existing member RM88 to continue, and request people to understand the situation; try get customer sign up lifetime again. After get money, run again.
Syok la like that!
Please be reasonable, asking us to pay again (because they got no money?). We are customers, should we know you got money or no money and your problems? We pay the money to know and listen to their problems and should understand their problems is it?
What has happened to this world???
Let's talk a bit logic here, the current members are the potential and TRUE members; if they do this, they just start losing these potential customers. Who would have faith in them anymore, since they don't even care or UNDERSTAND their customer???
Maybe their that childish to target NEW customers, but those current are the POTENTIAL ones, the TRUE lover for the sport/activity; and more importantly, now the NAME is bad and smells, if they do this, they can forget about continue the business, instead better refund us the monies rather than investing further.
Hi Fei & Cutiecate,
Thanks for your clarification. I'm fine as every humanis so unique and have own opinion. I'm trying my best to be the messager as I'm also pissed off that nowhere can get the update from the receiver nor the investor.
Agreed with you, anonymous that we are members, so I'm not siding LG nor old manamgement (TJ). I have beem very patient and support TJ previously as hoped to continue practice at such a nice environment.
If YZ's money was not conned and bear with such a huge debt, why the teachers & staffs' epf, socso & income tax been due for a year? How would the court announce receivership?
I'm not here to argue as I said that everyone is unique and has different opinion. If you dislike my blog, you can choose not to visit and I hope I won't just close it like YogaJess if anyone trying to start any unnecessary war here... Please contribute some constructive suggestions if we still want yoga. We can choose not to pay RM88 and join other yoga center, but I just share my opinion that I may consider if the new investor can offer the same facilities and teachers with this price, since I already have no choice if still intend to continue praticing yoga with my beloved teachers...
Why should I side Lay Gaik as she is not paying all my h/p charges for calling members, sms, my time on this blog as I have more work to do at my company... I just with one intention - I want to practice yoga at the same comfortable environment and those nice teachers.
Dear anonymous (September 5, 2008 6:16 PM),
You speak my mind!
As I already stated this in 'The Classes at Yoga Zone are "ON" This Week'
The new buyer presses the reset button!
Everyone buys the new membership again disregard GC or yearly members.
I think the new investor will lose not only the valued teachers now and also the most valued customers - GC members which have the most passionate about yoga.
Maybe investor thinks that GC members afford to buy membership again, but GC will not willing to pay again, will look for other center definitely.
A long-term view buyer should honour the existing members, GC still paying yearly fees, and many workshops, retreat, conferences.. to come.
Hi Fei,
Appreciate if the members' representative will raise all our concern to the new investor on this coming meeting at Plaza Damas. It is true that the GC would be very burden while paying the current instalments and if still intend to continue practicing yoga with this additional fees.
It would be good if the new investor can be considerate that to honour the existing memberships if majority are yearly membership and waive the fees for the GC for certain period, at least let them finish the instalments first if they think need revenue from the GC as well...
Good point! Yoga Lover,
New buyer can start to charge GC members fees after their installment period is overred.
To the new buyer,
I understand you need revenue to maintain the operations, but be considerate, hold the charges for the existing members, we would be more willing to sign up new membership again after the reasonable grace period is overred.
Pls remember, as long as the quality of the yoga classes is maintain, I believe GC members will continue sign up as members (coz they r crazy about yoga), don't lose your most potential customers.
Be a smart investor!
Hi Yoga Lover,
I heard that Tmn Desa branch might be closed down by the investors as they are trying to bring down the cost & the number of branches. Is this true? I am not able to attend the meeting on Monday, can someone please represent Tmn Desa outlet and get the answer from the new management/investor - thank you.
Hi Fei,
Glad that found someone here with the same mind set. Really hope that the new investor would be considerate to we all victims of YZ as we yoga lovers just wish to practice yoga with the same group of teachers in the same nice environmemt. If they can maintain the same, we all will still come back as "we are crazy about yoga" like you said, haha... Not point fighting here as we just want yoga.
If possible, will try to list all our concern and to pass to someone can represent the members to voice out to the new investor on Mon.
Btw, not sure how is the progress and outcome of the members meeting at Klang Centro today?
I just came back from the meeting at Centro.The purpose of the meeting was to gather everyone and see what we can do in a group. Some options that were pointed were
1. Opt for change of management
2. Gather everyone from all other outlets and form a group to take plan/ create a strategy/take legal action.
3. Gather everyone up as a group, collect pettition whatssoever, and send out formal letters to banks and such to get refund or stop the instalment payments.
Just a brief overview of the meeting.
Hi lyi,
Thanks for your kind update and hope all the members can get a fair treatment.
Glad that all the members from different outlets can keep each other updated here. All your kind intention and efforts are highly appreciated.
For create online petition, check out the following site:
http://www.petitiononline.com/create_petition.html
I also went to Centro, and for everybody's knowledge, the member who fought for us, one of them was a lawyer in practice and they have met the receivers 2 days before.
This is what they said:
"They're all LIARS!"
I think it's very clear.
And FYI, the equipments and stuffs will be tendered by Centro management on 9th September 2008. The notice is already put on the Y Fitness gutter.
Hopes? I don't think there's any hope they will re-open, they owe Centro don't know how many months rent and never follow up with Centro's management. Now the equipments and items are all unde custody of Centro management and waiting to be tendered.
One of Y Fitness instructor, Leonard, is also there, he also mentioned the YF KK branch suffers worst. Just after his last class, they come and take the equipments away. He said it was HAVOC there.
And also, FYI, he also mentioned about the receivers are pushing away investors, buying time, that sort of thing. So, possible to save this? I don't think so, now it's very CLEAR why they never give us members a proper notice!
Anyway, Leonard did give a very good suggestions, is that Centro to take over the Fitness centre. Sound good but not sure if it's possible or they willing to do it.
The lawyer in practice also mentioned that, those branch which they open today or in future is NOT CONFIRMED, they can close it down again. So, please take care and decide yourself.
For the record, there is a bunch of foreign students who just sign up for 3 days at Y Fitness and it closed down!
And I heard a bunch of just sign up LIFETIME Membership, and it closed down the VERY NEXT DAY!!! How can this happen?!
On that day they come and close it down, a member was in the bathroom and he receive a knock on the bathroom door and was request to leave within 5 minutes as they are going to close it.
Anyway, basically, nothing much can be done (after much discussion, Q&A, etc). Finally, they just decided to form up a committee to share the cost for hiring lawyer and do something.
Since they say it's most probably not possible to get a refund, what they planned was to fight for a change in management and someone to take over.
My concern if, so what if there is a change in management and someone re-opens the Fitness centre??? They most probably wouldn't honour the existing members, and I think they didn't explain clearly to everyone that the if it re-opens, we all will need to pay AGAIN, start FRESH.
I talk to few members about this, they also shock and ask, "Why should we pay again?"
I just can say, "If I need to pay, I rather join a more reliable Fitness Centre then"
Unless they are able to get those big Fitness centre to take over.
If a new fresh company with no reliable background, who dares to take the risk AGAIN?
What I'm curious the most is...
Everybody keep saying there is NO money...
Where did ALL the money we LIFETIME members paid during the few months before it closed down???
I believe there're SOOO MANY members who sign up LIFETIME membership!
They didn't pay the rent, didn't pay the staff salary, etc. Where did all the money went???
The old management (TJ) take it and run away?
If yes, can't we do anything about it?
If not, then where is the money? There's just so many MONEY!
It seems it's so easy, just say, NO MONEY!
Maybe should make a report and send in investigation team. This receivers are not being transparent and hides a lot of things, worst than previous management. But the truth we don't know.
Anyhow, the money is SOMEWHERE, can't legal actions be taken?
If so, isn't it TOO EASY to cheat people's money and get away with it?
Can we sue them? Technically, they know they were in trouble long ago, and they didn't pay the staffs salary, they knew they will close down one day, yet they cheat the members to sign up (tell stories about their future plans, convince the customers). I'm also very sad those marketing staff/consultants who persuade and keep push the customers to sign up even they knew about it so well.
Now these people all gone, dare not show their faces, dare not call, dare not even reply SMS, even just asking simple questions like "Hi, do you know what happen to Y Fitness? Is there any news if it will close down?"
Never did we intend to scold them, but they never even dare to reply.
Sad but what can we do?
Who to blame/chase?
Old Management? Receivers?
I think we should chase after those with our money, but where is it??? There's just so many money going in their pockets for the past few months!
Where is it???
I will try to make it for the meeting on Monday at 3pm. I used to practise at Plaza Damas but now at the Weld.
Is this meeting confirmed? & is it open to all members of YZ?
aka Ivy
So what are the conclusions?
1) The founder spent 8 years to build his yoga kingdom & spent few months to con everybody monies & acted perfectly last minutes trying to save his kingdom to con his potential investor but failed due to receivership forced in?
2) The previous senior management committed CBT, misappropriated funds & ran away & laughing behind to see the collapse of YZ?
3) The 10% shareholder because of certain reasons confronted with the founder & filed for receivership hopefully to get back her investment but finally get nothing?
4) The receiver came in as rescuer/operator but sorry they are just auditors(not even know how to report progress, don't talk about manage members expectation) ...laughing all the way to bank in their receivership fees from whaever left over?
5) The investor so naive thought that all members will buy & they can earn from RM88 & RM150 finally realise that they invested in an empty shell? (I'm GC member at Kepong, I'll not buy the RM88 instead I'll join my favorite teacher Thomas at LightYoga)
6) Good teachers? all gone to open their own yoga classes?
7) Members? all of you are victims loh..so dumb being cheated easily including me, of course
Best regards,
if simply finding an investor to take over YZ without acknowledging the existing members' package, it's simply too easy. I remembered last time TJ still putting emphasis on two matters, that's members' benefits and employees' salary and despite all my colleagues asked me not to believe him, I still believe in him, because at least whatever happened was transparent, ( and I believe that because it's too transparent, there are so many attacking points to him, I just feel that he's stupid enough to reply all the blogs ), and if you looked back in yogajess.com, Miss Lay Gaik never appear till her strategy unleashed progressively at the end, but she herself admitted that she was monitoring the blog closely.
No matter how and no matter what, it will never be the intention of a businessman to ruin himself like what we alleged TJ has done:-
1. If TJ is as what the rumours said with millions of dollars in bank account, he must be the most greedy man in the world; and if he's the most greedy man in the world, he will definitely pay back the salary outstanding and limited portion to the creditors to make them 'con' more money for him, however, apparently not;
2. If Miss Lay Gaik was so concerned and care about the business, how could she be filing suits to the company as early as April 2007, included Constructive dismissal, anton pillar order to the company, petition 181 of minority shareholder under oppression ( you can google her name and get this info ), I just find something in somewhere is very wrong, as Miss Lay Gaik is surely very concern about her 600k, but imagine this, 'if 600k to buy over few YZ outlets by not acknowledging the previous membership, turn over a new chapter by pushing the responsibilities away to the old management, wow! It's a god damn good deal!
3. I almost forgotten that this is only a Private Limited Company. Those who are eligible to condemn TJ are the shareholders. After a search in SSM, the results showed the paid up capital of the company is RM 250,000 with 250,000 shares; Lim Lay Gaik 25,000shares; Lim Kee Heng 1share; Lim Chew Foong 1share; Tan Ah Eng 1share; Chia Fui Hong 1share; Tjhin Chee Kung 224,995 shares. If TJ conned 10 dollars, basically his gain is only 1 dollar, if you were him, as the proud founder, 90% shareholder-cum-company's chairman, will you do so? Furthermore, a man with millions in the bank, why launching the 99 ringgit voucher? It's too little for him.
After all these, it's strange, really very strange, but I don't know how strange I'd could be cause there must be some more insight stories that we are not made knowned yet.
now another issue, I remember read from sin chew last month that TJ is apply to set aside the receivership on September and the hearing is on 12th September, this Friday. Lay Gaik said that the investor will come in on 15th September, the problem is, what if TJ had successfully set aside the receivership? Then receivers have to get out of the company and TJ is back to control, then will this investor works with TJ? If Lay Gaik really have "going concern" of the business and care about her investment, she should take initiative to communicate with TJ before this court hearing to ensure the investor will be in by 15th September to revive YZ. What says you? ;-)
Hi,
Is the meeting at 3pm plaza Damas on Monday opened to all members? I would like to attend. Please let me know. Thanks
plrulz82@gmail.com
Hi Anonymous 7/9/08 8.45am,
Totally agree with you, you spoke my mind! Looking at the closure of branch one by one without prior notice & explanation, and the alleged invalidation of existing membership, what kind of benefit we members get from the receivership brought in by the 10% shareholder? No reason at all for us to support this kind of arrangement. I'll totally support the founder to set aside the receivership if he has better solution & long term business view investor to saveguard the 2 emphasis i.e. members benefits & staff salary.
Best Regards,
Anonymous 6/9/08 10.51pm
hi, i know this is for cheras members, is anyone representing SP for tomoro's meeting? Im also a GC member, the club was closed out of sudden as well.pls keep us updated as well, TQ very much.
petition would be great! how do we sign?
Only two outlets with evening classes tmr ( or maybe for the whole week?),how sad is that? The light at the end of the tunnel seems to be getting dimmer and dimmer...( dear TJ, thanks for bringing YZ into our lives and helping us discover the joy of yoga.)
Dear YZ teachers(ex- teachers and those soon to be ex-teachers),
If all of you were to get together and set up a yoga centre(ie YZ#2 haha), im sure majority of us will become members as what we really want is to be able to practice with our favourite instructors all under one roof,in a comfy and friendly environment just like the good old times :) Ahhh,wouldnt that be wonderful!Dream come true!
what is the agenda of the meeting? We do not want to have empty promises again.
Hi Anonymous (7th Sep @ 11:06PM),
You speak out my mind and believe a number of members/students just have the same thought that to continue the yoga practice with the beloved and favourite teachers under one roof in a comfortable environmemt like those days in YZ. This is just a little wish & dream of us here.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Hi Anonymous (7th Sep @ 11:44PM),
Sorry that I don't have the agenda and of course none of us want another empty promise but no one can really tell at the moment... Just hope it is a positive and effective meeting as this is the first time the investor meeting members.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Hi,
To those Anonymous here, could I have a small request that just indicate your initial or any nickname you wish after your comments. It would be easier for us to address you on any reply or discussion here. THANK YOU.
* In order to welcome anyone's comment, I decided to open this Anonymous comment option, but found the difficulty to recognise or addressing when replying. Sorry for the request as I found myself don't have the courtesy or unpolite when replying someone with no name.
Who knows where to download XRumer 5.0 Palladium?
Help, please. All recommend this program to effectively advertise on the Internet, this is the best program!
Post a Comment