AAM hq sold?

PETALING JAYA: The cashs t r apped Automobile Association of Malaysia (AAM) has broken the bank and has reportedly sold its “crown jewel” – its headquarters in Shah Alam.

According to documents sighted by theSun, the AAM had already collected 10% of the selling price of RM7.5 million in May.

It has since called for a special general meeting ( SGM) f or members to pass a resolution authorising the trustees and/or the association to execute all processes necessary to fulfil its obligations under the sale- and- purchase agreement.

However, members say the AAM has put the cart before the horse by making an offer and then appointing an agent to collect the proceeds (

Members say the SGM is being used as a “rubber stamp” to ratify a deal that has already been signed. Now, if the meeting fails to endorse the proposed sale, they fear AAM may not have sufficient funds to return the deposit.

They point out that their salaries have not been paid for three months until theSun highlighted the matter on Aug 17.

Members of t he motoring organisation, whose membership has dwindled from over 400,000 in its heyday to just 36,000, want to know where the money has gone. Just six years ago, it was sitting on a