The news says Ambank can salvage some thing back from Empire City even if it has to write off the loan,  assuming somebody will still eventually take the project to completion.

Mostly like if end up incomplete, end financier for project will take over and nego with owner to top up a little so that a new contractor will be hired to complete it.

This happened to Rhythm Avenue in USJ which Ambank did it this way. So fingers cross for all EC owners. Good luck.

Ambank gave additional loan to each owners for the extra cost incurred to complete the property.

MEH really wtf. No financial crisis in the country, sold out project, one sided spa, early drawdowns from the bank, still cannot finish the project ah??

Management sucks to the max top to bottom

http://www.vpcpjproperty.com.my/property/3789

how could people still put conditions as "excellent" to sell...

http://www.malaysiarealestate.com.my/listi...rSale-3731744-S

the picture looks nice. but.. if you look out the window...

How likely MEH is going to abandon? Last I heard they got no money, then suddenly got gossip say they will get funding.

So it is like testing holding power. those bulk purchase investors with many commitment sure very tough for them..

Many people who invested a property or two in 2008/2009 has made X+1m. The profit from 7-8 years alone can buy 2 of the 5930G with spare cash for first class trip to Switzerland, maybe collect the watch from there 

From a person who missed the boat, of course it sounds sour grape 

if u sincere sure i can help u.. as long as u have spirit and sincere buy property for own use why not we help u? many of forumers here dai kor are helping u too.. thats what make u change ur mind from DDD to UUU, right?

so if u want to learn from legal perspective .. sure.. everyone learn from experiences.. nobody is perfect in the first place without learning.. even professional still learning thats what i can say

i know FD 4.5%... BR can offer up to 5% for >1 million .. more than 5-10 millions can nego.. same apply to OCBC with PIDM protection

so the choice is up to u.. if u re short of 200k i have no prob to borrow u at 3.9% but with TNC gonna do it in legal ways with black and white documents supporte

u think east think west first..no hurries make a wise decision for urself since bank decline u.. we still will help u dont worry !

so join us and be part of UUU.. welcome abroad !

bearbearwong

No need to ask bank. I help u pay cashi. Loan to u 1.5% per mth. Title write my name. Til u repay. U hav no risk. If u no confidence in tat house u just let go without any expenses. 

If u really so likey after dunno how many yrs then the onli thg u need to do is repay with fully with mthly 1.5% interest on principal left. Easy job.

Let me know when u need the fund. We show dev the bear is no play play type.

U think ah?

Most investors i know they have 4 holes but only got 2-3 lids to cover nia....

Yes they do look good from outside..with flashy car and watch and mobile phones....

Do u know how highly geared they are?

The title tells it all. Empire city is facing financial constraint and having problem repaying the 900mil loan to Ambank. Ambank's stock price fell due to exposure of bad debt.

Empire City is too big to fail. If it is really abandon, it ll be super eyesore to PJ. Hope it wont happen as thousands of innocent buyers there. Saw workers there the other day though not many.

actually all the buildings are 70-80% done...why can't they finish 1 by 1 like that at least got ppl come in then got value then at least will attract more investor

Mainstream media finally pick up the stir from internet..

http://www.thestar.com.my/business/busines...in-empire-city/

really slow

They ain't doing fine. Heard from insider.

Good luck everyone

ya essentially - they said everything they did is covered under the S&P so what talk you?

well let us see then if the CCC is released in 2 weeks as per article ...hope they keep to their promise

The thing about MMH developments is that the concept is actually to me quite impressive but execution wise is lacking.
I think not detail oriented enough and does not deliver a  value product to purchasers. For eg, yes, you can take your sweet time to
finish the mall but do you not consider what this would impact on the other aspects of the development?  If you screw your buyers
chances are good that they wont return to buy your future  products..

It's a ticking time bomb  :lol2:

The developer did not answer why there is a special handover clause in SPA to protect itself from LAD but can screw buyers kao kao
all explained was "we cannot carry this 'baby' forever"....so buyers kena raped and now pregnant with the baby which is too late for abortion

I feel lucky for not going into tis project. Last time really tempted and now think about it..... consider lucky. I think this kind of developer should be boycott...

I thought the message given by MEH was quite encouraging. They mention CCC to be issued in 2 weeks time. Maybe everyone is overreacting here? Given a little bit more time, I think MEH should be able to deliver. They sound pretty confident to me. Normally people who are about to abandon ship do not even care to come out to make such statements.

After vped .owner do not have right to enter unit freely or some cannot get key also.
Surprisingly how Paris Hilton concert on without VP or cf. Fortunately not un expected accident or everybody die without proper claims.

Instead of getting Paris Hilton to come, they should just invite Gurmit Singh, Harith Iskandar and Joanne Kam to perform LAUGH DIE YOU 3 at the venue. After more than 6 months, defects still not done and keys not returned to owners and some more started to collect maintenance fees are reasonable to a so called reputable and want to be around developer, really laugh die you. If all developers behave like them and still think they are right, Lok luck to property industry in Malaysia..     

Hahaha EC is such a big project still not enough...want to rush EC2. Why not complete EC that inspired confidence on people to buy EC2. But no already want to built EC2. First time I see a developer like the land will go away if they don't built a structure on it 

meh upper staff even boasted to me that their boss is soon to be richest man in malaysia. ha. ha. ha.

Meh really have cash flow problem now donno how long they can hold on

walau the director sound very lansi lol...

They admit they have cash challenging issue, just like Genting on the movie theme park case
http://www.themalaymailonline.com/money/ar...git-report-says

And with this kind of lansi comeback to the people, it makes me blood boil. I do hope they stop compromising the quality and focus on completing.

just pray for the best. Else it will trigger chain of bad effect on current already not so ok market

Could it be due to complications in name transfer etc due to said CCC? Would like to learn. Will it be because of prev loan or CCC issues during process or sale?

i think ec will be completed lah.
just scared internally a lot of cost cutting and short cut.
a case of too big to fail and too late to fail. visually, it looks almost there.
the last push would indeed be difficult coupled with many saboteurs (maybe suppliers and contractors who did not received payment).
hope they do.
we shall find out in a year or so.

Already there is auction unit. Confirmed no bidder last round, it will be another round of auction with lower price.