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Buyers in dire straits

05/08/09 The Star By TUNKU SHAHARIAH

Some 236 house buyers in Desa Aman, Relau, Penang, are left in dire straits after the project developer failed to secure a bridging loan to complete the project.

Desa Aman ad hoc committee chairman M.H. Lim, 35, said 90% of the buyers were facing difficulties in servicing their housing loans or even the interest, which they had been paying for the last 10 years when the project was launched.

She added that the project comprised two blocks of low-cost flats costing RM50,000 per unit.

Lim said the ad hoc committee was formed two week ago to gather the buyers’ data and related information.

“After that, we intent to engage the services of a lawyer to deal with the respective banks as several buyers have been blacklisted by the banks for not servicing their loans.

“Once blacklisted, the buyers will have difficulty getting another housing loan or may even end up becoming homeless,” she told reporters at Paya Terubong assemblyman Yeoh Soon Hin’s service centre on Monday.

Lim also said the committee had begun collecting RM100 each from the buyers to start a ‘House Reviving Fund’ to cover litigation costs.

Yeoh, who is the committee’s adviser, told the buyers to register their names and details with the committee before Aug 14 to pave the way for the project to be revived.

When contacted, state Town and Country Planning, Housing and Arts Committee chairman Wong Hon Wai said he and Yeoh had met up with the developer two weeks ago to mediate the matter.

He said the project, consisting of the 20-storey Block A with 266 units and 10-storey Block B with 126 units, was abandoned by the developer after it failed to secure a loan from a bank.

“The developer told us that they are facing some problems over the project funding and is willing to carry on if he is able to come up with the funds.

“However, he also indicated that he has no objections if we (state government) can find a white knight developer to revive the project, like what we did for another housing project last month,” said Wong.

When contacted, the developer’s managing director Seow Teng Heang said his company was in the midst of liaising with Bank Negara to revive the project.

“To date, we have not received any feedback but we will follow up with the matter as soon as possible.

“Alternatively, we have no objection if the state government or Housing Ministry can help out by getting another developer to continue our project,” he added.



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