Developer unable to revive abandoned project
16/08/2002 The Star
BUTTERWORTH: The turnkey contractor appointed to revive the abandoned Pangsapuri Widuri project here is unable to resume work because it had
failed to obtain approval from all the house buyers for the rescue package.
Originally scheduled to take off next month, the project is now likely to be delayed as only 75% of the house buyers had signed the
supplementary sales and purchase agreement as requested by the original bridging financier Maybank Finance Bhd.
In a desperate attempt to get all the purchasers to give their endorsement, Pangsapuri Widuri Purchasers Committee chairman Jasper Tan Kok Peng
appealed to those who have yet to sign to do so.
“The project has been abandoned for three years and it is pointless to further delay the signing as those who wish to sue developer Diamond
Crest Sdn Bhd will not get anything at the end of the day.
“The rescue package offered by turnkey contractor Harta Intan Construction Sdn Bhd is very reasonable and house buyers are advised to accept
it,’’ he said at a meeting with the house buyers here on recently.
Present at the meeting
were Bagan Jermal state assemblyman Datuk Dr Sak Cheng Lum and Harta Intan developer Amir Hussain Abdul Majid.
Amir Hussain said the total cost of the rescue package was estimated at RM25mil and Maybank had agreed in principle to revive the project.
The bank, he added, also agreed to waive the RM5.5mil accumulated interest for the loan given to Diamond Crest so as not to further burden
“However, the bank imposed conditions wanting house buyers to not claim late delivery charges from Diamond Crest and ground tenants to waive
the arrears for the RM400 monthly rental which was supposed to be paid by the developer.
“All these conditions have been included in the supplementary agreement which house buyers must sign so that we can restart the project next
month with completion due in October next year,’’ he added.
The house buyers were left in the lurch after Diamond Crest abandoned the project which comprises 740 low-medium cost units and 230 low-cost
Those who have yet to sign can contact the appointed law firm Dana Vallen and Associates at tel 04-3241032 or Tan at tel