Btw, how is the sale so far for Arc? Last check was like still have 30-40%

not worth to buy....

I got no choice now, can only go ahead as already paid 20%....:-(

I asked the Andaman's sales girl severa times for the internet information abt Andaman and Medaa Inc.Bhd, but she just denied it.
What to do ?

So far, till yesterday, block B still got 5 units left, block C still got 20 units, and block D still got MANY left !!

Just wonder, why government never go and control those loudsy developers like Andaman ?
Andaman will be the previous Talam ?

Atleast no abandoned project from Andaman so far ..... from the GRR stratey, obviously they want to stay long in this line for more than 25 years in Cyberjaya... making use of the investors' money for them to take in the rental income ....

They won't cabut for now as they still have some projects coming to Ipoh, Segamat,.....

wat u said is true.. just avoid.. except for own stay.

I hope so.....
Actually, I worked in Cyberjaya, and I know that ARC location strategy is quit good,
that's why I am willing to invest it even it is bit expensive than others service apartments in CJ.

But after reading through abt Andaman background,
I am totally surrendered and regret to buy it.

Hope Andaman management team understand why their units till todays still not be able to sold out after many months lauched...

Furthermore, I believed CJ will boomed up in coming next few years,
and if Andaman did well in ARC, then will be a lot opportunities for them in the future.

Why you choose this and not other condo nearby without GRR? Is it becoz u want to hold long?

Even though ARC advertise its GRR 8%, actually its ROI only around 5%.
(after minus those ID cost, insurance, and 3 months rental for every 4 years),

If compared with other areas like PJ, K.Damansara, Cheras, Setapak and etc which ROI is much higher (7% - 10%.),
ARC actually is not that attractive if so.

Then why I still go ahead for this ARC before come to lowyat forum ?
1) Because my job need to travel to oversea quit often,
I dun think I have time to hande those renting.

2) Location Stretegy, it is besides Symphony, and many big companies and expatriats nearby.
3) Future development in CJ
4) ARC commit to handle all the ID, F/F, and developer will bear all the cost of lost and damage for all furniture and fitting during the GRR period.
of course GRR for 25 years is another main reason I invest ARC.

So far, for I heard from agents, ARC had a agreement with MMU to rent out the units for RM 500 per student,
that mean ARC make use our units to earn "side income" for Andaman.
But as long as they manage well, and the quality is not bad, GRR 8% for 25 years, I think it is ok to me and those "lazy investors".

But now, after knowing so much abt this Andaman background and its history,
I feel so angry and also so worry and panic.
Furthermore, our S&P is signed between "Maju Puncakbumi Sdn Bhd" and "buyers", not between "Andaman" and buyers,
so it may really come to happen that Maju Puncakbumi will "eat" our money and later announce to bankrupt,
We then can not do much to its parent company "Andaman".......

God bless me .....

Possible to form JMB for ARC? Or Andaman will manage the condo for 25years since the GRR is 25 years?

Yes, I think so, it did mention in the S&P and Option Agreement to form JMB/MC with condition.

One of the clauses:

10 TERMINATION

10.4 Notwithstanding Clause 10.3, it is hereby mutually agreed that in the event:-
(i) the Vendor is not elected as the chairman of the Joint Management Committee or the council of the Management Corporation.
(ii) the Vendor or its nominee or Manager or agent appointed by the Vendor is not appointed as the property manager to manage the property to be
erected under the Development

the Vendor shall be entitled to terminate the Tenancy at any time by giving one
(1) month written notice to the Purchaser of such termination and subject to
payment by the Vendor to the Purchaser of all accrued rental, neither party shall
have any claims against the other party save for any antecedent breach and the
Vendor and/or Manager shall peaceably surrender and yield up to the Purchaser
possession of the Serviced Apartment.

---

Added on December 23, 2011, 9:11 amSo, u can see that:

Vendor (Maju Puncakbumi ) MUST be elected as the chairman of the JMB or MC else tenancy will be terminated !!!!

As I said, Andaman earn from buyers at least 2 times from:
a) first time - seling properties to buyers with extra 50K ID cost.
and RM 400/sqf
b) Earn extra 3 months rental fees for every 4 years option agreement
c) Earn extra from buyer's monthly rental fees, i.e. rent to students for RM 3K per unit, but only pay 2K to the buyers.

But, again, if Andaman manage well and the quality of units is good, most investors won't be so calculative.
The main probem now is, buyers lost the confidence from Andaman,
after many cases happened in Cova Villa/Suites and Casa Subang.....

---

Added on December 23, 2011, 9:17 am
[b]Buyers from ARC are strongly encouraged to join this forum so that we can group together our power to face Andaman in case anything happened in future !!!!![/b]

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Added on December 23, 2011, 9:20 amAnyone of you here bought the ARC like me ?
Please comment !!

Thanks !!

This post has been edited by guchemk: Dec 23 2011, 09:21 AM

Few weeks ago I was walk in Subang Parade and saw Andaman setting their booth promoting the current projects. One of the development consist of shoplot at JB which they guarantee return of up to 10% p.a. Anyway as I know how "reputable" they are, will not even bother to consider even if the GRR is 15% simply we know who Andaman is and there is plenty of other developments which represent a better value buy.

Before that, I am also quite interested in Andaman's Ipoh - Taipan project,
but now no more, and will not buy any more Andaman coming future properties no matter how good it is.

As what you said, still got many best buy properties from those good deveopers like IOI, MahShing, Sunrise, IJM, YTL, Sunway.....

Do you know that for every Andaman projects, they will register a RM2 company to handle the project. The registered companies only used nominees(young man and young chics) as company's director and share holders.
You can do a company search and you will be shocked!

---

Added on December 29, 2011, 5:19 pmWhat? Did you expect her to say [COLOR=red]YES, ITS TRUE?

This post has been edited by cova: Dec 29 2011, 05:19 PM

[quote=cova,Dec 29 2011, 05:11 PM]
Do you know that for every Andaman projects, they will register a RM2 company to handle the project. The registered companies only used nominees(young man and young chics) as company's director and share holders.
You can do a company search and you will be shocked!

Wow...that is really a shock. How could they do that? I mean we are talking about 2-3 digits million project here. This sort of developer must be held accountable for their integrity and responsibility.

shoplots also got grr.
lucky got internet then

a leson for you and others, which i have repeated a lot of times....there's no free lunch in this world, and there's no kind developer

if it "appears" to be kind, there must be a gimmick involved or it is a joint venture with government...

---

Added on December 30, 2011, 1:18 amthe best is, wait for harga runtuh, then ponly buy, else stop buying as of the property is going to bring luck to you, as what many of the forumers here are horaaying about. Pleaseee, not everyone gets good luck in terms of property appreciation, actually some even get into trouble before property appreciation...

This post has been edited by shaquenator: Dec 30 2011, 01:18 AM

[quote=darthvest,Dec 29 2011, 06:20 PM]
[quote=cova,Dec 29 2011, 05:11 PM]
Do you know that for every Andaman projects, they will register a RM2 company to handle the project. The registered companies only used nominees(young man and young chics) as company's director and share holders.
You can do a company search and you will be shocked!

Wow...that is really a shock. How could they do that? I mean we are talking about 2-3 digits million project here. This sort of developer must be held accountable for their integrity and responsibility.

[/quote]

A lot big developers are doing that to a certain extend (one for several small project, one of 1 big project, 1 for each project, etc).....for tax and finance reason....but what i dislike most is that they will advertsied and leverage reference with the mother company....but the entity that we sign S&P will be a new one or a temp one (once project completion, they will close down the company).

So, remember to keep all the marketing material, brochures that show the involvement of the mother company.....you might need them eventually ...

Thanks !!
YES, I did collect all the brochures, advertisement both in English and Chinese newspapers, Andaman website abt ARC@Cyberjaya.....and etc.
as you said, I may need it eventually one day in future.

This is scary ..

bro, what happened to Cova Villa/Suites and Casa Subang? I tot of buying Cova Villa for rental nx yr.