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EMPIRE CITY @ Damansara Perdana/Mutiara Damansara, Mixed Development Project in Damasara KL
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Brandon323
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 Jan 5 2016, 02:52 PM
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Getting Started
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QUOTE(kochin @ Jan 5 2016, 02:23 PM) Q's: 1. which tribunal? consumer or housing? 2. if this is a commie, and hypothetical speaking, why can't MEH just unwind the company if they have already billed major portion of the billings. after all, each billing would have included their profit, no? from the pics, looks like the entire development already is 7788. and assuming 70% of the development is sold (assume 30% is retained by developer eg. the mall), they could potential have billed everybody 85% of the 70% sold products. more than a decent profit i might say. but having said all that, don't think they will abandon lah. if they should abandon, they should have done it much earlier and not at this stage. the mall should be a fat cashcow IF it's successful. but as in most development, so near yet so far. the final mile could very well be the hardest mile. Huh? What do you mean by unwinding the company? You mean winding up? How to wind up a company with ongoing activities? What for? The fear here is abandoned project. It is a lose lose situation. MEH also cannot extract anything out of an uncompleted project and that is the last thing in their mind unless really liquidity crunch. |
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windancer660
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Jan 5 2016, 04:30 PM
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New Member
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They won't abandon EC or wind-up Cosmopolitan Avenue lah, so much more to lose.
But its funny how only a year ago they spent so much to bring Paris Hilton and have the "Party of the Century" to the current situation.
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icemanfx
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Jan 5 2016, 05:56 PM
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QUOTE(kochin @ Jan 5 2016, 02:23 PM) Q's: 1. which tribunal? consumer or housing? 2. if this is a commie, and hypothetical speaking, why can't MEH just unwind the company if they have already billed major portion of the billings. after all, each billing would have included their profit, no? from the pics, looks like the entire development already is 7788. and assuming 70% of the development is sold (assume 30% is retained by developer eg. the mall), they could potential have billed everybody 85% of the 70% sold products. more than a decent profit i might say. but having said all that, don't think they will abandon lah. if they should abandon, they should have done it much earlier and not at this stage. the mall should be a fat cashcow IF it's successful. but as in most development, so near yet so far. the final mile could very well be the hardest mile. QUOTE(gks @ Jan 5 2016, 02:29 PM) Actually i am referring to Empire Residences. I agree with you very unlikely MEH will abandon Empire City if you seen the progress billing structure of Empire City. If they have all the intention to abandon, they already abandon long time ago and not at this stage. The developer may not have the intention to abandon the project but lack of progress is rattling confidence level of buyers, suppliers, contractors and banks. |
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Donald Trump
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Jan 5 2016, 06:10 PM
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QUOTE(kochin @ Jan 5 2016, 02:23 PM) Q's: 1. which tribunal? consumer or housing? 2. if this is a commie, and hypothetical speaking, why can't MEH just unwind the company if they have already billed major portion of the billings. after all, each billing would have included their profit, no? from the pics, looks like the entire development already is 7788. and assuming 70% of the development is sold (assume 30% is retained by developer eg. the mall), they could potential have billed everybody 85% of the 70% sold products. more than a decent profit i might say. but having said all that, don't think they will abandon lah. if they should abandon, they should have done it much earlier and not at this stage. the mall should be a fat cashcow IF it's successful. but as in most development, so near yet so far. the final mile could very well be the hardest mile. Axis Pandan...mall up long time liau.....now mall also like want to close down the tower still not deliver cannot means cannot.....also recommended by same group as "buy call" rught? |
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Donald Trump
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Jan 5 2016, 06:17 PM
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QUOTE(gks @ Jan 5 2016, 02:29 PM) Actually i am referring to Empire Residences. I agree with you very unlikely MEH will abandon Empire City if you seen the progress billing structure of Empire City. If they have all the intention to abandon, they already abandon long time ago and not at this stage. Who wants to abandon their own project even if it is a sold out and dev not holding any unit project? and who even wants to abandon project where dev got so much vested interest at stake... the reality is abandon projects does happen ....and it happen and happen and happen....again and again.....for so many reasons |
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natman
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Jan 5 2016, 06:35 PM
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QUOTE(Donald Trump @ Jan 5 2016, 06:17 PM) Who wants to abandon their own project even if it is a sold out and dev not holding any unit project? and who even wants to abandon project where dev got so much vested interest at stake... the reality is abandon projects does happen ....and it happen and happen and happen....again and again.....for so many reasons Will they abandon ? already 2 blocks VP and the rest is at least 60 % done. If MEH really think of give up than i got no comment.  |
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Donald Trump
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Jan 5 2016, 06:40 PM
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QUOTE(natman @ Jan 5 2016, 06:35 PM) Will they abandon ? already 2 blocks VP and the rest is at least 60 % done. If MEH really think of give up than i got no comment. lets hope not cos buyers are all bleeding now paying instalments and never been given a single key side track a bit.....is there anyone out there still dare to buy their product? |
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natman
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Jan 5 2016, 06:43 PM
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QUOTE(Donald Trump @ Jan 5 2016, 06:40 PM) lets hope not cos buyers are all bleeding now paying instalments and never been given a single key side track a bit.....is there anyone out there still dare to buy their product? Think their Empire residence is selling quite well, no ? I have remix and schedule to vp in august. LOL crap i dont think they will be able to deliver that |
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rsquared
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Jan 5 2016, 06:48 PM
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Getting Started
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QUOTE(Donald Trump @ Jan 5 2016, 06:17 PM) Who wants to abandon their own project even if it is a sold out and dev not holding any unit project? and who even wants to abandon project where dev got so much vested interest at stake... the reality is abandon projects does happen ....and it happen and happen and happen....again and again.....for so many reasons Greed. |
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icemanfx
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Jan 5 2016, 06:50 PM
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QUOTE(natman @ Jan 5 2016, 06:35 PM) Will they abandon ? already 2 blocks VP and the rest is at least 60 % done. If MEH really think of give up than i got no comment. Meh is unlikely to give up willingly. If they have sold over half, there shouldn't have issue to complete. Wonder how many units were actually sold not sticker game. |
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Donald Trump
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Jan 5 2016, 06:53 PM
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QUOTE(icemanfx @ Jan 5 2016, 06:50 PM) Meh is unlikely to give up willingly. If they have sold over half, there shouldn't have issue to complete. Wonder how many units were actually sold not sticker game. is not just how many they sold....is what components they did not sell....yes likely to be greed and the wat party wasted like how much few millions? isnt it better to pump in the cash for construction work? can ask the Pali Hiton to finish the construction now? This post has been edited by Donald Trump: Jan 5 2016, 06:56 PM |
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Informationiac
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Jan 5 2016, 08:59 PM
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Getting Started
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I don't think they even focus on EC. The empire residence building phase picked up suddenly. Is like having another bunch of contractors from nowhere helping the building.... Possibly pressure from Empire residence owner they allocate the builder from EC to ER???
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lch78
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Jan 5 2016, 09:29 PM
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Even if the residences are completed, who wants to live in an environment surrounded by uncomplete buildings?
If the residences are sold out, then likely developer will have the cash to complete it. Offices and malls will be difficult if no cash pump in. Contractors and suppliers will bail or work on cash terms only.
Dev will need to borrow or sell off some uncomplete buildings to raise cash probably.
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HarpArtist
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Jan 5 2016, 11:10 PM
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dev like this really screw their customers. how are they allowed to keep in biz?
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accetera
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Jan 6 2016, 01:48 AM
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Empire City to be one of the Host Venue for 17th SEA Games in Kuala Lumpur 2017.
Congrats.
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BigMan123
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Jan 6 2016, 06:40 AM
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QUOTE(accetera @ Jan 6 2016, 01:48 AM) Empire City to be one of the Host Venue for 17th SEA Games in Kuala Lumpur 2017. Congrats. Good to hear this piece of good news vs discussions about how crude oil prices may impact this project blah blah |
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Babizz
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Jan 6 2016, 07:32 AM
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QUOTE(BigMan123 @ Jan 5 2016, 04:40 PM) Good to hear this piece of good news vs discussions about how crude oil prices may impact this project blah blah The ice skating rink will host the SEA games.Not sure what else.. |
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Donald Trump
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Jan 6 2016, 08:03 AM
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QUOTE(accetera @ Jan 6 2016, 01:48 AM) Empire City to be one of the Host Venue for 17th SEA Games in Kuala Lumpur 2017. Congrats. doesnt matter sea games asia games or holimpic games or Pali Hilton party wat so ever.... buyers just want the project finish and deliver in ready and stayable condition wat is the point of huh hah all this propaganda thing when u cannot even satisty a customer that only own a unit as small as 3-400 sf |
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Donald Trump
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Jan 6 2016, 08:06 AM
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QUOTE(BigMan123 @ Jan 6 2016, 06:40 AM) Good to hear this piece of good news vs discussions about how crude oil prices may impact this project blah blah if cannot take negative comments then tell ur friend / bosd or who ever there in dev off to start changing their ethics and character in doing development biz this might be kacang puteh to some investor but a life time savings to others |
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gks
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Jan 6 2016, 09:10 AM
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QUOTE(HarpArtist @ Jan 5 2016, 11:10 PM) dev like this really screw their customers. how are they allowed to keep in biz? Because they still have stream of buyers. And their products are in good location with easy entry, low absolute price, furnished and with dibs in nutshell, investors heaven. |
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