Khang Auto
- Thread starter angbrian
- Start date
DebadgedA6
Well-Known Member
Re: Khang Auto
The following actions have been (will be) taken to secure the release of my vehicle, on my schedule. Not theirs:
1. Police case (civil case, not criminal, probably won't get anywhere but important for step 2).
2. Call media. Checking which paper wants to cover this story.
3. Sent email to Wong Partnership. Follow up with Hand delivered letter. Demanding for:
a. Compensation for the loss of use.
b. Indemnity against damage to vehicles and theft while in their unauthorised possession.
c. Setting a date and time to retrieve the vehicle.
4. Engaging a lawyer to contact Wong directly.
5. Call finance company (since they have an interest in the vehicle.
6. Call Insurer, to let them know that the vehicle is not in my possession.
7. Inform LTA, to tell them that the vehicle is not in my possession. Maybe can waive road tax since it's not on public roads.
8. Writing in this forum to document.
Anybody else' cars in their possession can PM me, we get in touch to see how we can help each other and co-ordinate independent action.
Another piece of advice guys, don't play hooligan.
The following actions have been (will be) taken to secure the release of my vehicle, on my schedule. Not theirs:
1. Police case (civil case, not criminal, probably won't get anywhere but important for step 2).
2. Call media. Checking which paper wants to cover this story.
3. Sent email to Wong Partnership. Follow up with Hand delivered letter. Demanding for:
a. Compensation for the loss of use.
b. Indemnity against damage to vehicles and theft while in their unauthorised possession.
c. Setting a date and time to retrieve the vehicle.
4. Engaging a lawyer to contact Wong directly.
5. Call finance company (since they have an interest in the vehicle.
6. Call Insurer, to let them know that the vehicle is not in my possession.
7. Inform LTA, to tell them that the vehicle is not in my possession. Maybe can waive road tax since it's not on public roads.
8. Writing in this forum to document.
Anybody else' cars in their possession can PM me, we get in touch to see how we can help each other and co-ordinate independent action.
Another piece of advice guys, don't play hooligan.
Re: Khang Auto
First, how to prove that ? You can prove failure to deliver but you cannot prove prior knowledge of failure to deliver on their part.
Second, the documentation that PI or warranty holders signed, assumes that Khang/TWM will be a going concern.
davidtch said:
First, how to prove that ? You can prove failure to deliver but you cannot prove prior knowledge of failure to deliver on their part.
Second, the documentation that PI or warranty holders signed, assumes that Khang/TWM will be a going concern.
Re: Khang Auto
agree, that was the point i was trying to say earlier with them trying to run the biz like an insurance co collecting premium while the actual claim rate would be inevitably that high. hence, something sibei wrong with their biz model.
imagine pay $1000 per year.....owner just need to claim 1 or 2 time a year then lose out liao.
if claim something bigger, confirm loss then.
hence, how to be feasible or sustainable?
diablo_728;722412 said:
agree, that was the point i was trying to say earlier with them trying to run the biz like an insurance co collecting premium while the actual claim rate would be inevitably that high. hence, something sibei wrong with their biz model.
imagine pay $1000 per year.....owner just need to claim 1 or 2 time a year then lose out liao.
if claim something bigger, confirm loss then.
hence, how to be feasible or sustainable?
Re: Khang Auto
For 2nd point, since PI were given the relevant documentation of TWM, these PI are deemed to be representative of Khang. If TWM is not going concern, it should stop its rep from continuing to sell policy.
For 1st point, get a copy Khang financial statements from ACRA. The financial trouble may not be sudden 1.kenntona;722606 said:
For 2nd point, since PI were given the relevant documentation of TWM, these PI are deemed to be representative of Khang. If TWM is not going concern, it should stop its rep from continuing to sell policy.
Re: Khang Auto
The warranty is transferable and follow the car...Last time viable becos COE keep dropping and newly less than 3/4 years cars are exported but when they start selling warranty at unbelievable price for conti cars older than 3 years old...Its a business model waiting to fail or plan to run road soon.
The warranty is transferable and follow the car...Last time viable becos COE keep dropping and newly less than 3/4 years cars are exported but when they start selling warranty at unbelievable price for conti cars older than 3 years old...Its a business model waiting to fail or plan to run road soon.
Re: Khang Auto
You cannot infer failure to deliver from income statements. A company which is doing badly can still take orders and deliver forward.
In your perspective, you could have used the financial statements from ACRA to determine the credit risks of Khang BEFORE you buy TWM's warranties, but that's your onus. Does any company need to take its business projections into account when they take orders?
PIs were never representatives of Khang.
For new cars, PI bought the warranty from TWM. You can say they priced in the warranty into the purchase price, but you could also say they throw in the warranty as part of the agreement. But you cannot say PIs SOLD the warranties.
For extended warranties, different issue. Workshops are TWM's distributors.
In both cases, their relationships with Khang is purely agency, not principal.
davidtch said:
You cannot infer failure to deliver from income statements. A company which is doing badly can still take orders and deliver forward.
In your perspective, you could have used the financial statements from ACRA to determine the credit risks of Khang BEFORE you buy TWM's warranties, but that's your onus. Does any company need to take its business projections into account when they take orders?
davidtch said:
PIs were never representatives of Khang.
For new cars, PI bought the warranty from TWM. You can say they priced in the warranty into the purchase price, but you could also say they throw in the warranty as part of the agreement. But you cannot say PIs SOLD the warranties.
For extended warranties, different issue. Workshops are TWM's distributors.
In both cases, their relationships with Khang is purely agency, not principal.
Re: Khang Auto
anyway, i think all our talk aside.
the pressing matter is perhaps for the bros whose cars are still inside to group together and start a collective action to retrieve back their rides, hire a lawyer or something. sure beats sitting then, LL and let them ruin your coming CNY.
someone go start a thread or something for cars stuck@Khang
anyway, i think all our talk aside.
the pressing matter is perhaps for the bros whose cars are still inside to group together and start a collective action to retrieve back their rides, hire a lawyer or something. sure beats sitting then, LL and let them ruin your coming CNY.
someone go start a thread or something for cars stuck@Khang
