if MEH unable to launch their next project in coming 12 months , and sell it like before, they cant cover the earlier holes anymore. But their EMpire city mall & subang stil worth alot of $$.

This post has been edited by Giant: Mar 15 2016, 02:14 PM

no stress yet at iprop.
lowest is still circa 340k for the halo.
wait till it goes sub 300k dulu baru tengok balik.

even is someone interested to buy over their mall, but by virtue of them knowing MEH is in need of fund, for sure will press 9 9 the value lor.
just like auction unit, not yet reach 30% below also won't go in.
can say lidat bor?

Yes, yes, yes, assets inflation create wealth effect, make people feel rich. That's why few gomen discourage assets inflation while it last. when the bubble burst, speculators and the gomen could always blame on someone else.

hearsay some banks have suspended drawdown to empire remix project. with limited cash flow, ec condition is unlikely to improve soon.

This post has been edited by icemanfx: Mar 15 2016, 02:48 PM

I believe they are in very desperate situation in order to pass the key for incomplete building. No sound developer would dare to tarnish their reputation to this extend.

Believe the liability is with the architect who issued ccc. as long the developer showed to rectify any defect during the defect liability period, they should be home free.

There is a sucker born every minutes. With huge rebate, cash back, low entry cost, etc, for sure many will buy regardless.

This post has been edited by icemanfx: Mar 15 2016, 02:57 PM

Looking at the pics, you're definitely right.

Since this issue already make known, don't think a good ending for everyone involved...

Hopefully the situation improves

The Professionals Responsible for the Issuance of CCC

1.) The CCC will be issued by the Professional Architect or Professional Engineer who is registered with the respective Board of Architects Malaysia (BAM) or Board of Engineers Malaysia (BEM) acting in the capacity of PSP.

2.) For buildings which require intensive design input, the Professional Architect will function as the PSP while the Professional Engineer will be the PSP for the projects with high engineering input in nature.

3.) For the bungalows which do not exceed 2 floors in height and 300 square metres in total built up floor area, the registered Building Draughtsman will perform the role of PSP and will issue the CCC.

4.) The CCC can only be issued when all parties concerned are satisfied that the building construction have been supervised and completed full compliance with the provisions of the law and technical conditions as imposed by the LA in approving the Planning Permission and Building Plan.

http://www.rehdainstitute.com/index.php?op...d=98&Itemid=102


21 stage certifications, time to know who are thoses "PARTIES"..



This post has been edited by samkps: Mar 15 2016, 03:14 PM


Attached thumbnail(s)

At the end of the day, everyone is protected except for the buyer.
Looking at the photos, is the unit habitable with electricity and water?
A lawyer will argue the unit is dirty and they forgot to clean up and have some defects.
Thus the architect sign off.

Posting photos on the web is not helping either, especially those desperate to dispose their unit to the next sucker. bad news snowballs and if the developer fails to secure more credit, the project might be abandon, who is the loser then? not the developer, they just start a new company - maybe - Galatic Empire Holding or Inter-galaxy Awesome Holdings.

Even if there is a court case, it will be 10 to 20 years long. By that time, some are dead, some migrated, making the case even harder to close.

Just pray they don't go bankrupt. Those that got these type of VP units, remember, you guys are in the same boat with the developer, they fall you fall.

p.s. I hope the property market collapse, thus making houses affordable to everyone, but speculators will curse me because I am the good guy, but they think they are the good guys because they vote DAP. cheers. am no BN supporter too.

cannot be auction lah bro,

this MEH boss cash rich,
he know buyer cannot do much thing since it not under HDA

hopefully will get burn ASAP

Believe most buyers/owners would have loan repayment in their mind rather than court case.

Developer has obtained ccc i.e fulfilled its contractual obligation, believe there won't be any case against them.

Most projects are developed by subsidiary company, holding company is not a party to the contract and is immune from court case.

Basically, buyers/owners could only sue the parties that issued ccc or some like to say; left high and dry.

This post has been edited by icemanfx: Mar 15 2016, 03:46 PM

Yes, I agree and like what I said, everyone is protected except for the buyers.
Even the architect is well protected.
No point suing, at the end of the day,
the loser will be the buyer and the biggest winner will be the lawyers for both sides - KaChing!
These people knows what they are doing, they provided the free legal fee via their MEH lawyer, they probably anticipated this and are fully covered.

MEH is a holdings, probably the contract between the buyer and seller is via a subsidary - sdn bhd, thus in the event if the developer lose, they just close down the 'subsidiary' sdn bhd and dont pay a single cent of damage. you will have to pay for your own lawyer fees, which will not be cheap.

Is there even a preceding court case of this type of dispute?

I heard some people say the architect is in-house. Is it true?

I do not want to comment on the legal case against developer as it would be best to consult professional and it is rather personal whether worth it or not.

However buyers do have other means to make life difficult for the developer. Be creative and be forceful. Personally i dont believe in being rape while lying down and say thank you very much. This is an insult to the very basic dignity of being a human.

I m not a buyer but I am against anything that encourage shitty behaviour of developers to screw future buyers.

Just my 2 sen

This is Malaysia, where developer + gov rules... The best lubang of property development is to have subsidiary company doing it as when comes to being sued, just close shop for the worst scenario. This is normal, so I only can say good luck to the buyers.

question.
is the retention under stakeholder the same or similiar as per HDA's SPA or just a marginal 5% retention since this is a commercial SPA?

Under MEH's SPA if I a not wrong, the retention will be paid to developer 6months from VP when the defect period is over.

Can the buyer instruct lawyer to withhold the retention sum like HDA ? If can, buyers should probably do it quick and in black and white to lawyer.

Given 99% of buyers will blindly sign the SPA, I think most buyers do not know their right. Heck I think the SPA didn't provide any protection to the buyers.

If "They fall you fall" is true, then our nation building laws is fundamentally defective...

Don't let them go easily. They still have Empire Subang. Can force them to sell it to compensate here if all stakeholders unite. The more we relax, the more people they are trying to fool as seen in EC2. Empire Remix are already screwed up for sure.

This post has been edited by soitsuagain: Mar 15 2016, 06:34 PM