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Rescue plan hinges on bank’s nod

The Star 20/05/2002

Work on the abandoned Pangsapuri Widuri project at Lorong Cempa, Butterworth, would begin in July if the financing bank agrees to a rescue package submitted by a turnkey contractor who has been entrusted by buyers to revive the project.

Harta Intan Construction Sdn Bhd director Amir Hussain Abdul Majid said yesterday the bank has appointed an independent consultant to verify the overall viability of the revival effort and would take about six weeks to make a decision.

“We hope all quarters would make some sacrifices so that the project could be revived quickly as we plan to complete it within 12 months,’’ he said at a briefing on the project at the SRJK (C) Chung Hwa Cawangan Satu.

It was attended by State Housing, Entrepreneur and Co-operative Development Committee chairman Datuk Abdul Rashid Abdullah, Bagan Jermal assemblyman Datuk Dr Sak Cheng Lum, Bagan MP Lim Hock Seng and state DAP treasurer Phee Boon Poh.

The project, comprising 740 low-medium cost units and 230 low-cost units, was abandoned three years ago leaving about 500 buyers of low-medium cost units and 157 squatters who bought the low-cost units in the lurch.

Pangsapuri Widuri Buyers Committee chairman Jasper Tan said most of the buyers had agreed to sign a supplementary agreement with Harta Intan Construction Sdn Bhd so that the project could take off quickly.

Although the buyers do not have to fork out extra money to complete the project, they have to make some sacrifices, he said.

Among them are agreeing not to seek late delivery charges from the developer Diamond Crest Sdn Bhd pending the takeover of the project by Harta Intan Construction Sdn Bhd.

Tan said squatters who have bought the low-cost units must also agree not to seek the RM400 monthly rental payment which was supposed to be paid by Diamond Crest Sdn Bhd.

“Harta Intan has also asked the bank to waive all outstanding interest owed by Diamond Crest Sdn until commencement of work,’’ he said.

Tan said he was happy that more than 600 people attended the briefing and appealed to those who have yet to sign the supplementary agreement to contact him (012-4636003) or Yong (012-5530565) within two weeks.

In his speech, Abdul Rashid said the state government would consider the buyers’ request to waive the RM2mil contribution charges.

He commended Dr Sak for playing an active role in resolving the buyers’ problems by raising the issue at the state assembly and also getting the necessary help from the Housing and Local Government Ministry.

In his speech, Dr Sak hoped buyers would co-operate so that the problem could be resolved soonest.

In a statement, the Consumers Association of Penang president SM Mohamed Idris urged purchasers to be careful when signing the supplementary agreement, adding that requiring buyers to waive their late delivery claims was unfair.


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