Buyers of the RM300mil Fettes Villa condominiums, which has been delayed for three years, learnt yesterday that a new management has taken over the project.

The housebuyers, who have formed a pro-tem committee, were informed by Chief Minister Tan Sri Dr Koh Tsu Koon that the new management had given an assurance that it was financially capable of continuing the project.

A one-hour meeting was held at Dr Koh's office at Komtar yesterday between the new management's representative, Arthur Toh, and pro-tem committee chairman Ong Kean Wah and advisor Lee Leong Seng.

Datuk Ooi Ean Kwong, former chairman of Gewaris Sdn Bhd, the original developer, was also present.

The project in Mount Erskine, which was launched in 1995, was supposed to be completed in April this year but there was no construction work except for two piles sticking from the ground. It was to have been developed in two phases, with Phase One comprising 907 condominium units, 363 low-medium cost units and 32 shoplots.

Dr Koh, who is Tanjung Bungah assemblyman, told newsmen after the meeting that the management was in the process of sorting out "a few things".

"I am given to understand that it is not facing financial problems but has administration and technical matters to solve."

Dr Koh said the management declined to make public its company name for the time being and that Ooi was present "just to help out".

"As to when they can start work and the name of the new company, these will be announced by the new management at a proper time in the near future.

"I have asked the new management to speed up and expedite work as much as possible, considering that the purchasers have waited a long time," Dr Koh said, adding that the same applied for the low medium-cost units under the project.

He said the new management should be given a chance, adding that his service team would continue to monitor the development.

Dr Koh said that certain mitigation measures had also been taken to prevent any mudflow incident from the cleared hillslopes in view of the rainy spell.

Ong said given the new management's assurance, the pro-tem committee would wait a few more weeks for updates.

He also said that over 80 purchasers had registered to join the committee during a purchasers' meeting yesterday morning.