That PB really either never do homework or overdid his homework, which the info was 2 years ago. Salute!~

Yes, that land was previously a commercial land, but it was sold to Knox Group in some deal, which is very good deal to the Kiara Resources Properties and Knox Halim Group. That's one of the issue that they can actually sell KR2 cheaper, so with 87% sales, they already in damm huge profit. ( My hint is even they sell KR2 at RM 350 per sq feet, they still in good profit due to this land entry )

It had been converted to residential land and AP & DL tentatively had been obtained by the developer. Anyhow, for me, this is not a big concern, bcz the title can be transfer and convert easily, since the developer able and willing to paid the premium. With Halim in power, sap sap sui.

Let's see what is in the S&P and loan disbursed from our LO is according to the S&P terms and condition as well. Banks would not so stupid and unable to protect us, the clients who pay the loan for long term. I had checked with most banks, the approval memo on this is based on residential land home loan. Even commercial, it is not an issue for 90% bcz the name of condominium ( Kiara Residences 2 ) would change name to service apartment ( Kiara Service Apartment 2 ), short say, nothing to do with the land for the loan financing and margin.
Let's back to your friend loan with PB ...

If commercial land can loan 70% and if residential land then can up to 80% ( means not his income issue )

I think the banker can follow Van der Vaart and Robben go to Holland. Or he watch too much van Persie.

Due to this is commercial land and yet to convert to residential land, therefore only can offer 70%. It is not logic at all. If residential land, it's up to 90% and max 70% subject to 3rd home loan / property declared.

Btw, loan approval for PBB is up to the branch ( some BM with approval authority limit ) and Loan Centre, or it was called Credit Approval.
This is under construction project, where, the project emplacement had been checked and done properly within Business Development Unit before they clarified this is EF and PBB can finance it according to the memo. Credit Department has no such empower to amend the approval authority of up to 90% to 70% due to land issue, unless subsales which not require BDU / EF Team to overlook it.

If this is commercial loan, it is not subject to LTV 70% and can loan up to 85%. Yet, your friend only can be offer max 70%.

Totally not logic at all. Even my friend already signed the LO with PBB for 90%, another friend who signed with MBB, also got the LO from PBB for 90%.

End of the story, the banker must did not check the PBB EF approval memo, so he/she do not know what is the max margin allow for the loan application. So, I only can say he/she did not do enough homework.

Hope it clarifies ....

---

Added on June 26, 2012, 5:36 pm

Sorry, read it 2 hours ago but not free to use my iphone and reply.

Busy now, later I check here and keep posted whatever I know and heard, ok? LOL!~

Ermm...usually I drink on Friday but this Thursday I'm heading to BKK for short vacation so bring forward to today loh. I work from home, flexi hour.

tai kor really tai kor ....
that PB banker is the one they mentioned chun chick?
if yes pls forgive and forget..... and let bring her out for drink , let Chris tai kor educate abit... for FREE!

sometime i do wondr..
where the hell chris kor get his info from..
really big and deep connection that he got there..
salute salute....

That PB really either never do homework or overdid his homework, which the info was 2 years ago. Salute!~

Yes, that land was previously a commercial land, but it was sold to Knox Group in some deal, which is very good deal to the Kiara Resources Properties and Knox Halim Group. That's one of the issue that they can actually sell KR2 cheaper, so with 87% sales, they already in damm huge profit. ( My hint is even they sell KR2 at RM 350 per sq feet, they still in good profit due to this land entry )

It had been converted to residential land and AP & DL tentatively had been obtained by the developer. Anyhow, for me, this is not a big concern, bcz the title can be transfer and convert easily, since the developer able and willing to paid the premium. With Halim in power, sap sap sui.

Let's see what is in the S&P and loan disbursed from our LO is according to the S&P terms and condition as well. Banks would not so stupid and unable to protect us, the clients who pay the loan for long term. I had checked with most banks, the approval memo on this is based on residential land home loan. Even commercial, it is not an issue for 90% bcz the name of condominium ( Kiara Residences 2 ) would change name to service apartment ( Kiara Service Apartment 2 ), short say, nothing to do with the land for the loan financing and margin.
Let's back to your friend loan with PB ...

If commercial land can loan 70% and if residential land then can up to 80% ( means not his income issue )

I think the banker can follow Van der Vaart and Robben go to Holland. Or he watch too much van Persie.

Due to this is commercial land and yet to convert to residential land, therefore only can offer 70%. It is not logic at all. If residential land, it's up to 90% and max 70% subject to 3rd home loan / property declared.

Btw, loan approval for PBB is up to the branch ( some BM with approval authority limit ) and Loan Centre, or it was called Credit Approval.
This is under construction project, where, the project emplacement had been checked and done properly within Business Development Unit before they clarified this is EF and PBB can finance it according to the memo. Credit Department has no such empower to amend the approval authority of up to 90% to 70% due to land issue, unless subsales which not require BDU / EF Team to overlook it.

If this is commercial loan, it is not subject to LTV 70% and can loan up to 85%. Yet, your friend only can be offer max 70%.

Totally not logic at all. Even my friend already signed the LO with PBB for 90%, another friend who signed with MBB, also got the LO from PBB for 90%.

End of the story, the banker must did not check the PBB EF approval memo, so he/she do not know what is the max margin allow for the loan application. So, I only can say he/she did not do enough homework.

Hope it clarifies ....

---

Added on June 26, 2012, 5:36 pm

Sorry, read it 2 hours ago but not free to use my iphone and reply.

Busy now, later I check here and keep posted whatever I know and heard, ok? LOL!~

Oh... Joeekh bro still don't know what Chris bro working as?
ICAC..... Must get all info dari developer and bank...

Ya, I'm tipsy by now. Thanks Bro Chris for your kind explanation, I can finally puke in peace. Will ask that PB banker to go screw the wall.

i thot he is MIBIII

Both teeths will fight tonite.... Which teeths will go in final?
Redcow teeth or CR teeth?

On pitch, Red Cows triumph in every way. But now is Semi, anything can be happen. Red sudah win too much. I dont think they can repeat the history to become the first back to back champions sandwhich by a World Cup medal. Of course, they have the depth to do so.

If Red Cow play 4-6-0, then i think Portugal have great chance. If they play 4-5-1, then Portugal must rely on Moutinho, Meireles and Veloso to support CR7.

On pitch, Red Cows triumph in every way. But now is Semi, anything can be happen. Red sudah win too much. I dont think they can repeat the history to become the first back to back champions sandwhich by a World Cup medal. Of course, they have the depth to do so.

If Red Cow play 4-6-0, then i think Portugal have great chance. If they play 4-5-1, then Portugal must rely on Moutinho, Meireles and Veloso to support CR7.

By the way what's your pick on Italy vs Germany?
This time German are favourite but still I have faith in Italy.
Which one you put your money in?

I love italy as i worked there for couple of months, but i still go for all in to germany, downpayment for KR2 depends on this match liao.....     

BTW, who meet the MBB K before?

For me, I think Spain can make the miracle....
Chris kor... So tonite game eat ball + small TG?

By the way what's your pick on Italy vs Germany?
This time German are favourite but still I have faith in Italy.
Which one you put your money in?

Walau..u all-in? Better dun la..later we worried gonna lose u as our good neighbour...

I met her before, and Chris bro too. U have appointment with her? When are you going to share the C PBB fb with us? 

I just added MBB K FB, waiting her to response friend request.....