The Star 02/12/2002 By Ng
SOME 600 housebuyers of the stalled Fettes Villa project
in Fettes Park, Penang, have to make a decision.
They have been told to decide whether they want the project to
continue or try to get back their downpayment of between RM10,000
and RM15,000 each.
Project liquidatorsMaria Chin and Mok Yuen Loke distributed
survey forms atmeeting with the buyers at the Caring Society Complex
on Thursday night.
The survey forms are to collect their personal data and their
choice of action.
Chin said: “If buyers agree to continue with the project, we will
get the costings and tell them the sum they need to pay.
“We also need data from the buyers to gauge the feasibility of
The housebuyers protem action committee co-ordinator S.L. Poh
said: “The developer has abandoned the project and there is little
chance for us to get back our downpayment.
“Rather than throw our hard-earned money into the sea, it is
better for us to continue with the project.”
He said if the buyers opt to get back their money, they would
have to seek other means such as political assistance. House-buyer
Jamie Lim expressed disappointment with Chief Minister Tan Sri Dr
Koh Tsu Koon for failing to fulfil his general election pledge to
help revive the project.
“If the state government can’t help us, who can?’’ she asked.
Another housebuyer Added: “I doubt we can get back our
downpayment. So, it’s better to revive the project.”
Also present were Kebun Bunga assemblyman Datuk Dr Teng Hock Nan,
Tanjung MP Chow Kon Yeow and the Chief Minister’s special assistant
Cheang Chee Gooi.
“If buyers wish to continue with the project, the liquidators
will engage another developer to revive the scheme,” Dr Teng said.
The buyers should also choose several members from their pro tem
committee to liaise with the liquidators, he Added.
The RM300mil project in Tanjung Tokong, which started in 1995 and
scheduled for completion in 1997, was stalled in 1996.
The scheme comprised about 900 condominium units (costing between
RM120,000 and RM130,000), low-medium cost (LMC) apartments
(RM50,000) and 20 shop- lots (RM120,000).
However, only about 210 condominium units and 358 LMC apartment
units were sold while the shoplots hAd been sold out.
The LMC and shophouse units are about 10% completed while work on
the condominium units had yet to start.