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Buyers must pay at least RM6,000 to finish project

04/02/2002 The Star

About 1,500 buyers of the stalled Taman Terubong Indah (Majestic Heights) Phase 1 project have to fork out between RM6,000 and RM9,966 to complete the project.

Deloitte Kassim Chan corporate restructuring and recovery services executive director Chu Siew Koon said the liquidators had estimated the project’s completion to cost over RM15.5mil.

“This amount includes paying for over RM2mil worth of optional items such as changing the units’ door locks, re-polishing marble floors, installing metal roofing and resurfacing the car park.

“However, these items are not a requirement in obtaining the project’s Occupancy Certificate. So, if the buyers don’t want them, they can pay less than RM9,966 each,’’ he told over 300 buyers who attended the Majestic Heights Buyers (Phase 1) Forum at the Caring Society Complex yesterday.

Chu also said the buyers’ ad-hoc committee could push the state authorities including Penang Municipal Council and Indah Water Konsortium to waive contributions worth RM3.62mil.

“If the authorities agree to this and the buyers do not want the optional items, then they need only pay about RM6,000 each,” he said.

He said once all the buyers reach a consensus, the liquidators would call for a tender immediately, adding that 20 contractors had expressed interest to revive the project.

“Our documents for the tender are ready. If we can get a decision soon, work can start after Chinese New Year and be completed between nine months and a year,” he added.

Ad-hoc committee chairman Lim Beng Hong said: “Our fervent hope is to celebrate next year’s Chinese New Year in our apartments.”

Also present were Bayan Baru MP Wong Kam Hoong, Paya Terubong assemblyman Dr Loh Hock Hun and ad-hoc committee adviser S.L. Chang.

Later, a buyer Mak Kar Weng said the state government should bear some responsibility for the stalled project.

“It is unfair to ask us to pay for what was cheated out of us. Thus, the state should bear the RM15.5mil cost and not the buyers,” he said. The other buyers at the hall applauded in response to this.

Launched in 1995, the Majestic Heights project, consisting of 2,955 housing units (grouped under Phases 1, 2A, 2B and 3A), 55 shoplots and 22 light industrial units, is the country's largest single abandoned housing project.

On Oct 16, the High Court handed down an order for the developer to be wound up. The winding-up judgment followed the unprecedented exercise of Section 11(1)(d) of the Housing Developers' (Control and Licensing) Act 1966 by the Housing and Local Government Ministry, which directed the company to voluntarily wind up or risk prosecution under Section 19 of the Act.

 

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