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 EMPIRE CITY @ Damansara Perdana/Mutiara Damansara, Mixed Development Project in Damasara KL

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RTFM69
post Mar 19 2016, 07:37 PM

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QUOTE(Giant @ Mar 19 2016, 07:04 PM)
Where is the source of this news ? Can provide link ?
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Its in lastest theedge weekly.
westthen
post Mar 19 2016, 07:47 PM

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i did saw some activity at the B2 entrance...a few cars with a group of ppl talking outside without going in...now that u say got police i think got more ppl there...

i suspect could be the owners trying to get in to verify what they saw on social media?
icemanfx
post Mar 19 2016, 07:55 PM

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QUOTE(cannible @ Mar 19 2016, 07:33 PM)
Question is whether they are top officials or recovery personnel. Wonder why need police if they dont anticipate resistance?
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Were the presence of police related to bank official?

QUOTE(RTFM69 @ Mar 19 2016, 07:36 PM)
Extend additional facility would be like stepping further into the muddy field esp in current rising NPL environment. Ambank more like closing water tap mood now after bnm fine and major shareholders rumoured to be seeking buyers.
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Few banks will write off rm900m without restructuring. The question is how many times have ambank restructured meh facility.

This post has been edited by icemanfx: Mar 19 2016, 08:06 PM
Donald Trump
post Mar 19 2016, 08:03 PM

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QUOTE(gks @ Mar 18 2016, 04:44 PM)
ES is doing well after the initial hiccup.

But when owners got the key for the unit, the similar hiccup they faced, just on smaller scale compared to Empire Damansara. It seems that now whatever the owners faced in Empire Damansar it is minuscule compared to Empire City.  rclxub.gif

Everyone was using the success in Empire Subang, suck up the developer's inefficacy in delivering the product  and bbb in Empire Damansara and Empire City with the hope developer is able to replicate the success.
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yup .....without ES.....meh already say bye bye to u all long time ago

i m just amaze with those staffs that are still working with this dev esp those that directly handling all these shit works. these staff and the bosses can sleep well at night?
i suggest all to head hunt those poople that is in charge, get their names and photo circulated....just cant let these people go like that...

Donald Trump
post Mar 19 2016, 08:08 PM

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QUOTE(RTFM69 @ Mar 19 2016, 06:38 PM)
The edge weekly carries the news that ambank top officials visited empire city recently. MEH have outstanding loan of RM 900 mio with Ambank. Now the big guys are worried too.
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MYEG building delay for so many months was the first signal out to the public especially the banks
MYEG is not abc company......main board listed and soild.....if they go to the press and announce they have no where to go as their building is not ready despite being promised many times....and they have already terminated their current tenancy with SHC....what do u think the bank will do?
kokwah18
post Mar 19 2016, 08:17 PM

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Noooooooooooooooooooo.. Stupid investment
nexona88
post Mar 19 2016, 08:19 PM

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QUOTE(Giant @ Mar 19 2016, 05:40 PM)
Today a big group of police officers gather in front of empire city entrance , not sure what kinda investigation they doing there
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u got take pict biggrin.gif

or anyone took one dry.gif
Giant
post Mar 19 2016, 08:21 PM

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QUOTE(nexona88 @ Mar 19 2016, 08:19 PM)
u got take pict  biggrin.gif

or anyone took one  dry.gif
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No, just drove passed there , too difficult to take while driving
v88
post Mar 19 2016, 08:22 PM

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Mr lim apologized. Developer brought him to wrong unit the other day...
RTFM69
post Mar 19 2016, 08:26 PM

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QUOTE(icemanfx @ Mar 19 2016, 07:55 PM)
Were the presence of police related to bank official?
Few banks will write off rm900m without restructuring. The question is how many times have ambank restructured meh facility.
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maybe i should just quote whats written in TheEdge saja :" Bankers whom The Edge spoke to say AMMB's management is "aware of the loan". An industry observer points out that perhaps the top officials of AMMB went to the ground and visited the project site to keep tabs on it and to get an update on the development"
kokwah18
post Mar 19 2016, 08:28 PM

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Many people will be going broke soon if this property failed...................
netboy
post Mar 19 2016, 09:23 PM

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From Mr Lim's latest FB post:

QUOTE
「或許,這是 last post for empire city」

為了公正和負責的 po 文,以下是今天我想寫的事實:

在 3 月 17 號的時候,當我還是十分堅信自己在 12 號看到的是 100% 真實,因此在 17 號的晚上,我去了 YB 林立迎在甲洞的 DAP 辦公室。

YB 委託 Mr Pui 為我們處理 Empire 的疑問,根據 Mr Pui 所說,Empire 的其中一位老闆,是他的中學同學。Mr Pui 說,他能帶我們進去 Empire City 以作實地考察。由於之前的經驗和不少 owner 分享的經驗,即使有鑰匙的,還是要 make appointment 過後才能進入 empire city。為此,Mr Pui 還說有 VP 的屋主其實是可以進入的,否則我們應該報警。由於我並不是 empire 的其中一位 owner,因此我懇求 Mr Pui 帶我進去。Mr Pui 豪氣的說:why not?

過後,我要求 Mr Pui 帶我們每一層已經得到 VP 的走走。

今天 10 點早上,我們到達 empire city 後,卻不被允許進入,理由是我們(包括一些有 VP 的 owner,有鑰匙的 owner,Mr Pui 和我)沒有 make appointment。請允許中間省略 Mr Pui 和 security guard 的對話。

然後,Mr Pui 唯有致電於發展商。發展商二話不說派來了一個代表,雖然我們也等了不少時間,但是最後我們也能進入 empire city 的 site office 了。

在 site office 探討了一下過後,發展商便帶我和我的朋友上去我朋友的單位,說當天他的伙計帶錯了。

有如圖片所見,單位內算是 practically completion,雖然有 defect。單位外或許有些善後工作。我在發展商允許拍照的範圍內拍下了以下的照片。但是不被允許走去逃生的樓梯。發展商說基於安全理由,我不能走出去。

因此,我在看完之後,就下去了。

在此,我對發展商和 architect 道歉。由於之前去錯地方(發展商的人帶錯路),而引起不少風波。

在回到發展商的辦公室後,我只有幾個問題:
1. 發展商的 VP 是怎麼定義?
2. 已經得到VP 的 owner 為何只能通過 appointment 進入?
3. 幾時能夠拿到 ccc?
4. 什麼叫做 pratically completion?

還有一個問題,就是為何當初發展商的伙計說帶我們去看 mock up unit ?對於此事,發展商的代表表示不知情。

在 Mr Pui 不能自由進入(empire city)後到最後幫發展商協調,問所有業主一個很關鍵的問題:你們在意 property 的 value 嗎?

我知道,我一直說下去,對你們的 value 也不好。雖然你們可能會質疑我今天有沒有去錯樓面(因為之前的照片),但是我想說:只有所有 block E 的人團結一致才能知道答案。

如果你是 block E 的 owner 而還有質疑,可以 PM 我你的資料。在某個人數後,我會有下一步。

DAP 的 Mr Pui 能夠幫的不多,你們不接受的話就要靠自己。

如果不信,PM 我。
否則,到此為止,我累了。

p/s will translate to English later.
*為了負責,之前的 po 隱藏了。

#記得爭取自己的幸福和利益
davwon
post Mar 19 2016, 09:30 PM

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Salvador_Dali
post Mar 19 2016, 09:31 PM

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Quote TheStar: "DIBS, on the other hand, are a “willing seller-willing buyer” SPA cunningly crafted by developers and are in contradiction with the current housing legislation. Under the DIBS, the house buyer has agreed to be responsible to the banks/financial institutions for the loans signed under the SPA whether the houses are delivered or not. This is the moral hazard the Government is trying to prevent the house buyers from getting into."

http://www.thestar.com.my/business/busines...e-house-buyers/

These people signed the S&P already, be thankful the project is not abandon, if it is, you are liable for the loan towards the bank.

Good luck.
Donald Trump
post Mar 19 2016, 09:45 PM

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QUOTE(Salvador_Dali @ Mar 19 2016, 09:31 PM)
Quote TheStar: "DIBS, on the other hand, are a “willing seller-willing buyer” SPA cunningly crafted by developers and are in contradiction with the current housing legislation. Under the DIBS, the house buyer has agreed to be responsible to the banks/financial institutions for the loans signed under the SPA whether the houses are delivered or not. This is the moral hazard the Government is trying to prevent the house buyers from getting into."

http://www.thestar.com.my/business/busines...e-house-buyers/

These people signed the S&P already, be thankful the project is not abandon, if it is, you are liable for the loan towards the bank.

Good luck.
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what bs is this
buyers have to be thankful if dev dont abandon the project....lol.....joke of the century...
Wiredx
post Mar 19 2016, 10:25 PM

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This is why build then sell is important. It weeds out wannabe developers.
Salvador_Dali
post Mar 19 2016, 10:57 PM

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QUOTE(Donald Trump @ Mar 19 2016, 09:45 PM)
what bs is this
buyers have to be thankful if dev dont abandon the project....lol.....joke of the century...
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BS? u tell your Lim Guan Eng loh. He wants the gov to bring back DIBS.
and be thankful? of course, what else? pray they go kaput?
You know, you lost the 'rape' debate. Stop picking on me and move on you cry baby.
Donald Trump
post Mar 19 2016, 11:09 PM

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QUOTE(Salvador_Dali @ Mar 19 2016, 10:57 PM)
BS? u tell your Lim Guan Eng loh. He wants the gov to bring back DIBS.
and be thankful? of course, what else? pray they go kaput?
You know, you lost the 'rape' debate. Stop picking on me and move on you cry baby.
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talk use brain lah
u must know what the dev has on books......now is not the quest of dev going bust....y u always curse the dev going bust?......now is the question of dev's attitude......u think that dev has no money?....that is what u think
satrianeo-x
post Mar 19 2016, 11:56 PM

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I think nor Salvador Dali got issues. Anyway for a project as big as EC, M&A is in the cards, so no worries one. Only worry now is holding power for at least, 2-3 years, without a chance to rent or stay. My humble 2 cents la. For those bought 5 units, God speed.
netboy
post Mar 20 2016, 12:40 AM

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Borrowing from bank to finance your loan for a property which is still under construction (buying from developer) is like borrowing from Ah Long to gamble in the casino.

You are the one who signed the loan documents. Regardless whether your gamble pay off or not, you still have to repay the loan.

The only way to reduce risk is to do your due diligence and sometimes pay more for a more reputable developer. Obviously nobody wants to lose. Everyone always hope for the best, but sometimes, even the most reputable or low risk investment still has risk. The bank already gave you the loan under your name, if they don't collect from you, then who?

Any project that went bust is an eyesore and a heartache to the purchasers no doubt, so just hope for the best. Don't be an a**hole and wish/curse others' downfall. Karma is a b**ch.

Anyway, now suddenly Mr Lim have taken a U Turn and apologize while being super confident just a few days ago, again I feel something is not right there. No matter what, it is still consider a good wake up call for existing purchasers and the public regarding future purchase(s).

All the best.

This post has been edited by netboy: Mar 20 2016, 12:41 AM

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