It is very alarming to see many purchasers and borrowers here were clueless about DIBS.

If developer pack up and decided to go Holland, borrowers are still obligated to service interest AND installment back to bank, because the monies have been drawn down to developer. Only problem is, you don't have a finished product to stay or rent or sell to repay your loan. Meaning you're going to repay an empty loan or risk ruining your own credit ratings.

Yes it's the same for every case if developer go Holland. But based on what I read here, a lot of borrowers thought DIBS means they don't have to pay anything unless they get their units ready. Technically this is only true if developer complete and deliver the project on time.

I just heard on radio evening news, earlier today construction crane for Empire City fell down onto Pencala Link.

Anyone to confirm this? Hope no casualties involved.

http://www.thestar.com.my/news/nation/2016...alan-damansara/

OMG.. Double damage same time today..

Company car lol

As long as they can complete the whole project and bring in the proposed tenants, everything will be forgotten.

Been following this EC thread since the huge fire broke out some time ago (was it 2013?). Pics of VP from Halo seems livable, though with poor workmanship and finishing (but nowhere near as bad as the ones posted by "Mr Lim" that went viral on FB).

The main question will lead to different question(s) that might shed some light to this highly interested topic.

1) Are the photos posted (the ones that went viral, not livable at all) comes from the actual unit that developer had passed for VP?
a) If yes, why would developer do so, as reputation is much more expensive than paying LAD
b) if no,
b-i) is this an honest mistake by Mr Lim to have taken the photos at a unit that developer has not yet pass for VP?
b-ii) is this a deliberate act by Mr Lim to mislead the public regarding the development?

2) Why hasn't the developer made any official statement regarding this matter which has went viral and receive many public interest whether or not they're directly or indirectly involved or not?

3) What are the excuse/explanation/justification from developer regarding such overdue completion for this development as a whole (AFAIK, already delayed twice) irregardless of the photos posted.

Developments under commercial title does not necessarily means it's definitely without HDA.

Some developments as "Serviced Apartments" or Serviced Residence" are usually with HDA, as developer applied for residential purpose on commercial titled land.

SOHO/SOFO/SOVO on the other hand are most likely without HDA as these developments are approved as "kedai" or "pejabat" and not for residential purpose.

Potential buyers can also look at layout brochures where properties sold with HDA are usually with furniture drawings (ie sofa, bed, tables etc) whereas non-HDA brochures are forbidden to show these items in their layout on the brochures (HINT: because they are "pejabat" not "rumah")

Haha good for you

I said "most likely" not "definitely"

I fail to understand why "Mr Lim" the non-owner is tanking the developer and doing all the exposé whereas very little owners have come forward with their own photos and complains.

Even in this thread I don't notice any actual owners are giving their side of story(ies). Majority comments are from outsiders which are non-owners.

As a non-owner, Mr Lim is even proceeding to attend to the LOD and seemed prepare to fight for the "truth". I may understand his stance and action if he's an actual owner and is suffering for potentially huge financial losses, but by just exposing the photos which went viral after 2 days, he could've just retracted it with apology and move on with his life without any harm to his pocket.

Yet, where are all the owners?

No matter which stance the owners take ie. 1. Pray developer complete it sooner rather than later or 2. Persuing the developer via legal channel, it's a lose-lose situation.

If they chose 1. and keep quiet, developer may be more daring and delay it even further, but there's a chance that it will eventually complete anyway. Owners suffer temporary losses of loan repayment while waiting for their units to be completed properly.

While if they proceed with option 2. by going through legal means, developer will too, counter with their papers that most - if not all - owners have signed without actually understanding it and are usually sided towards the vendor. Worst case scenario, developer found guilty and ruled to pay huge compensation, they may pack up, declare company bankruptcy and there goes the buildings in an abandoned state.

It's a huge dilemma for owners, I couldn't decide myself which route I will take if I'm one at the moment. I just don't understand why a non-owner is going public and yet still not backing down despite developer's LOD in which he will suffer potential financial losses for something that he's not even involved in. Getting the photos viral for a few days is really a good enough wake up call for owners, but why he is continuing to fight for a battle that is not even his?

It is good to know some owners have made their choice and went for legal means as you said.

My point is, I fail to understand why Mr Lim keep insisting on pursuing the case (now that he have successfully alerted and woke up many owners) and potentially suffer time and financial losses even if he's not an owner.

No matter what, I hope this whole project will be completed sooner rather than later. This is a huge scale project which if it fail will potentially have a domino effect on the market in years to come.

All the best to all owners.

All the best to you. May all the odds be in your favor.

1. I'm not owner of any unit in EC
2. I didn't say that Mr Lim was wrong. I was just curious why is he continuing to fight the legal battle when he repeatedly clarified that he's not an owner.

Based on a speculation, there's various reasons behind Mr Lim's action. Still, whether the photos are the actual unit or not, only he knows. Regardless, I think he did his part by making the photos went viral and gave current owners a kind of "wake up call". Whether the whole issue is a real "truth" or not, maybe time will tell. My best wishes to all owners.

---

Regarding Subang Empire, it is true that the entire building's (including mall and SOHO) workmanship is substandard. I frequent ES and has a few friends who owns units upstairs so from Day 1, already can see some poor finishing. ES's success literally comes from great retail tenant mix and decent location. With such good retail shops it's bound to be a success as a "neighborhood mall" around SS15-16 area. If the management team didn't bring in the current crop of retail tenants, it could've been a flop years ago.

Just look at ES's direct competitor (not Parade, but First Subang, now known as SS15 Courtyard). Similar concept but First Subang's failure to bring in good retail tenants were their downfall.

This post has been edited by netboy: Mar 18 2016, 06:11 PM

From Mr Lim's latest FB post:

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