State keen to help builders
06/10/1999 The Star
The state government is monitoring and working with developers
to revive and expedite the 10 housing projects in George Town which have been
delayed because of the economic crisis.
Chief Minister Tan Sri Dr Koh Tsu Koon said the projects,
comprising low medium-cost (LMC) units, had been offered to tenants affected
by repeal of the Rent Control Act.
He said six of the projects were delayed due to technical and financial problems.
He said the project facing the most serious problem was Taman Cemerlang where
the developer, Penangan Maju Sdn Bhd, had closed its office.
Dr Koh said attempts by the state government to contact the company's directors
and shareholders were futile, adding that the case had been reported to the
Housing and Local Government Ministry for further action.
"Now that the economy has shown signs of recovery, better conditions and easier
credit facilities have enabled these stalled projects to be revived.
"Six of the projects with 2,665 low medium-cost units are expected to be completed
in the next two to three years," he said in a statement.
He said the developers undertaking the projects had confirmed during their
meeting with him yesterday that their projects had begun or would start soon.
The projects are Chup Seng (490 units), KGN-RFS (932 units), Kukuhmas (110
units), Prime View (278 units), Reka Indah (129 units) and Farlim (726 units).
Dr Koh said two other projects, namely Regata and Alor Vista, would commence
once some planning issues related to the number of LMC units and other physical
requirements were resolved, adding that the projects would be completed within
three years.
"At the meeting, I directed the relevant government departments to assist
the developers to overcome technical problems," he added.
He said the Bank Negara branch manager in Penang would also help them on the
financial aspects.
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