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BAM: Our financial situation manageable

The Badminton Association of Malaysia (BAM) have responded to Buletin Sukan’s exclusive story with a press release and have claimed that the association’s financial situation was at manageable level.

We are posting below the full press statement from issued though their media manager Falah Abdullah.

 

BAM’S RESPONSE TO BULETIN SUKAN’S ARTICLE “Exclusive: BAM’s increasing arrears and proposal to sell off former academy land” (published on 1 June 2018)

Having received a proposal from an interested party to purchase the Taman Maluri property, the BAM Council have set-up a sub-Committee, led by Dato’ Wira Lim Teong Kiat, to study the feasibility of the proposal.

Any decision related to the Taman Maluri property will rest on the BAM Annual General Meeting, as provided for by the BAM Constitution.

BAM’s main objectives are to promote and develop the game of Badminton, and these remain our core objectives and focus. While BAM continues to strive for a healthier financial state, the current financial situation is at a manageable level and does not necessitate the sale of the Taman Maluri property.

BAM continues to work diligently to ensure we regain our status as a badminton powerhouse while remaining financially sustainable. Our players and grassroots development will always remain at the heart of our operations.

 

Buletin Sukan stands by its story that the BAM had moved beyond feasibility study in the proposal to sell the Taman Maluri property.

The statement did not answer why a feasibility study was needed by the seller, in the case the BAM, when the normal practice was for the buyer to do it.

While the statement from the BAM says it’s financial situation was manageable, it did not provide any figures to show that the deficit of RM5, 508,287 brought forward from 2017 has been drastically reduced.

Another question that begs to be answered was as to why payments to vendors have been delayed to the full extend if the cash flow of the association was manageable as claimed?

Neither did the BAM clarify why more than 20 council members were given a free trip to Bangkok for the Thomas Cup Finals.

 

 

 

 

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