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> Abandoned Shop Offices at Lestari Puchong, Looking for all shop owners contact here

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TSivanlimca
post Oct 17 2011, 12:23 AM, updated 13y ago

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We are trying to gather all shop owners who have invested in the 36 units shop offices at Lestari Puchong in 2003 developed by Lestari Perdana Puchong Sdn Bhd (Subsidary of worst ever developer in Malaysia TALAM with reputation down the drain). The above project was abandoned until today.

This abandoned project was categorised by Selangor PR Government under 'Pemantauan Task Force' after 2008 general election but still we did not see any progress update at site.

We have recently heard from insider of TALAM that they are looking for investor and trying to sell off the entire abandoned development to others, even though they bound by SPA with all the buyers!

Thus we are trying to gather all shop lots buyers here to form a committee to deal with the hopeless developer and to take legal action if necessary. We are also seeking assistance from Selangor State Counselor and DAP MPs to step in and resolve the problem. Please circulate around to your family and friends if you know anyone who had unfortunately invested in this development.

Regards,
Lim Cheng Hwa/ Helen Tan
H/P: 019-276 0050
chian50@hotmail.com


TSivanlimca
post Oct 17 2011, 12:30 AM

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Project SignboardAttached Image


Added on October 17, 2011, 12:51 amSo far we managed to gather total 5 owners contact.

This post has been edited by ivanlimca: Oct 17 2011, 12:51 AM
SUSfoxpro
post Oct 17 2011, 12:53 AM

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You still trust DAP will help you ? I they want sattle this they will do long time ago. Now any time going to have next election when new mp coming will start over again and again only people are become mansa for their game.

Bro yr efford is good but don't be fool by the politic people.

This post has been edited by foxpro: Oct 17 2011, 12:54 AM
CyrusChang
post Oct 17 2011, 01:00 AM

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Commercial properties is not under HDA!!!
keane04
post Oct 17 2011, 01:33 AM

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Dun care DAP or MCA, as long as they are the current MP, go find them, bug them, pester them.........
Yamaha 444
post Oct 17 2011, 08:55 AM

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After so many years only take action on this terbengkalai project..... better forget about it lah... sure need to involve many people and level... just think it as a painful lesson lah.... further more Puchong lestari is almost a half dead taman..who wanna buy it from Talam...
TSivanlimca
post Oct 17 2011, 12:03 PM

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We heard that Talam is selling off or already sold the entire abandoned development to new investor without seeking the 36 shop owners consent and plan to re-launch it later at higher price.

Please do kindly circulate around the Facebook, Twitter, word of mouth etc to gather us the unfortunate shop buyers contacts. Thank you!
airline
post Oct 17 2011, 12:15 PM

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if talam sell, then u guys untung lo.. if they relaunch it higher?
like in other talam projects in ulu kelang..
SUSjasonhanjk
post Oct 17 2011, 12:20 PM

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QUOTE(foxpro @ Oct 17 2011, 12:53 AM)
You still trust DAP will help you ? I they want sattle this they will do long time ago. Now any time going to have next election when new mp coming will start over again and again only people are become mansa for their game.

Bro yr efford is good but don't be fool by the politic people.
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You still trust in BN?
So much crooked business was allow to be created by the BN government.
TSivanlimca
post Oct 17 2011, 12:35 PM

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Front view of the development with deteriorated banner hung on the metal hoarding since after 2008 GE - PROJEK INI ADALAH DI BAWAH PEMANTAUAN KERAJAAN NEGERI SELANGOR DARUL EHSAN.

This post has been edited by ivanlimca: Oct 17 2011, 01:14 PM


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TSivanlimca
post Oct 17 2011, 12:44 PM

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First row view fronting main road - Structural frame work completed, some units with brick works completed.


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comme_play
post Oct 17 2011, 03:08 PM

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my father has a 2-storey house there. i hope u guys made it. keep it up!
Hansel
post Oct 18 2011, 09:53 PM

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After all that has happened, these people have moved on to make money somewhere else, and the unusual thing is the Gov't allows them to do so.

This is where they intend to go now. So stay away from Canal City and Radiant Pillar Sdn Bhd. Article below.

K-Euro Aims For Business Turnaround In 2012
Author: Nurul/ source Bernama
Date: 12/07/2010

Kuala Lumpur, -- Kumpulan Europlus Bhd (K-Euro) aims for a turnaround in business in 2012 as the 1,012-hectare Canal City project to be jointly developed with IJM Land Bhd takes off, its President and Chief Executive, Tan Sri Ir Chan Ah Chye said.

The 50:50 joint venture company for the development is Radiant Pillar Sdn Bhd, he said, adding that a supplementary agreement for it has been sealed.

"Sales for the project near the Kota Kemuning township, will start sometime next year and due to the new accounting standards, we can take it into account for the 2012 financial year. So, 2012, will be an exciting one," he added.

Speaking after the company's Extraordinary General Meeting (EGM) here today, Chan highlighted that the project, with a more than RM10 billion gross development value (GDV) and to be developed over 15 to 20 years, is the company's sole focus for now.

For the first quarter ended April 30, 2010, K-Euro slipped into a RM3.129 million pre-tax loss from a RM62,000 pre-tax profit in the same quarter previously.

Turnover also dropped to RM8.841 million from RM9.85 million previously.

According to Chan, K-Euro has also vowed to not make the same mistake as its unit, Talam Corporation Bhd, by buying too much land and ending up with huge debts.

"We will acquire land only when we have the money," he said, nothing that the Canal City project is more than adequate in respect of income for the next 15 years or so.

On Monday, its shareholders approved the proposal to dispose of 700 million Talam shares, to generate RM90.863 million that will be utilised to repay bank borrowings and savings in interest of about RM2.2 million.

The group's total bank borrowing as at March 31, 2010, amounted to RM260 million.

In the EGM circular, it was stated, upon full payment to Abrar Discounts Bhd (Abrar) for the Talam financial instruments and conversion of it to a voting share in Talam, K-Euro will be able to enhance its controlling stake in the company.

Assuming completion of the proposed disposal and upon full conversion of all outstanding Talam convertible financial instruments as at June 24, 2010, the equity interest of K-Euro in the latter will increase to 32.8 per cent from 26.51 per cent at present, it explained.

Link : http://besonline.rtm.gov.my/details.php?id...usiness/Economy

One thing the purchasers can do now is to approach Bank Negara for help, and ask BNM to tell the banks to stop the loan interest payment immediately. Then restructure the loan and start to pay instalment to pay down what's been disbursed earlier.

And too to negotiate for some haircuts against the disbursed amount.

This post has been edited by Hansel: Oct 18 2011, 09:55 PM
yokeheng
post Oct 19 2011, 07:34 PM

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hello i am one of the owner of this double storey shophouse, please contact me 0126393769. I will join you to take further actions.
TSivanlimca
post Oct 26 2011, 10:29 PM

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Dear Yoke Heng, you are one of the 5 owners in the contact list. We will keep in touch!
Yamaha 444
post Oct 27 2011, 09:42 AM

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5 owner mana cukup kuat jerit pun macam kuci kuci...... must have at least football team la... to shout.... good luck.
thunderaj
post Oct 27 2011, 10:01 AM

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too sad this thing happen in selangor..

who should we blame ..?

TSivanlimca
post Oct 31 2011, 11:44 PM

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Good news! We managed to get one more owner contact today.


yokeheng
post Mar 26 2012, 10:05 PM

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received a call from puchong office and this call was to inform me that IJM gave up this project and refund the capital only to owners. Mails about this decision are sending to our house address. if anyone receive this mail, please keep each other notified here.

regards,
0126393769
shaquenator
post Jun 17 2012, 10:10 AM

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QUOTE(Hansel @ Oct 18 2011, 09:53 PM)
After all that has happened, these people have moved on to make money somewhere else, and the unusual thing is the Gov't allows them to do so.

This is where they intend to go now. So stay away from Canal City and Radiant Pillar Sdn Bhd. Article below.

K-Euro Aims For Business Turnaround In 2012
Author: Nurul/ source Bernama
Date: 12/07/2010

Kuala Lumpur, -- Kumpulan Europlus Bhd (K-Euro) aims for a turnaround in business in 2012 as the 1,012-hectare Canal City project to be jointly developed with IJM Land Bhd takes off, its President and Chief Executive, Tan Sri Ir Chan Ah Chye said.

The 50:50 joint venture company for the development is Radiant Pillar Sdn Bhd, he said, adding that a supplementary agreement for it has been sealed.

"Sales for the project near the Kota Kemuning township, will start sometime next year and due to the new accounting standards, we can take it into account for the 2012 financial year. So, 2012, will be an exciting one," he added.

Speaking after the company's Extraordinary General Meeting (EGM) here today, Chan highlighted that the project, with a more than RM10 billion gross development value (GDV) and to be developed over 15 to 20 years, is the company's sole focus for now.

For the first quarter ended April 30, 2010, K-Euro slipped into a RM3.129 million pre-tax loss from a RM62,000 pre-tax profit in the same quarter previously.

Turnover also dropped to RM8.841 million from RM9.85 million previously.

According to Chan, K-Euro has also vowed to not make the same mistake as its unit, Talam Corporation Bhd, by buying too much land and ending up with huge debts.

"We will acquire land only when we have the money," he said, nothing that the Canal City project is more than adequate in respect of income for the next 15 years or so.

On Monday, its shareholders approved the proposal to dispose of 700 million Talam shares, to generate RM90.863 million that will be utilised to repay bank borrowings and savings in interest of about RM2.2 million.

The group's total bank borrowing as at March 31, 2010, amounted to RM260 million.

In the EGM circular, it was stated, upon full payment to Abrar Discounts Bhd (Abrar) for the Talam financial instruments and conversion of it to a voting share in Talam, K-Euro will be able to enhance its controlling stake in the company.

Assuming completion of the proposed disposal and upon full conversion of all outstanding Talam convertible financial instruments as at June 24, 2010, the equity interest of K-Euro in the latter will increase to 32.8 per cent from 26.51 per cent at present, it explained.

Link : http://besonline.rtm.gov.my/details.php?id...usiness/Economy

One thing the purchasers can do now is to approach Bank Negara for help, and ask BNM to tell the banks to stop the loan interest payment immediately. Then restructure the loan and start to pay instalment to pay down what's been disbursed earlier.

And too to negotiate for some haircuts against the disbursed amount.
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actually, you should post everywhere to tell people about Talam and their new names. Make sure everyone knows....let them have non sales. Spread in Facebook or Twitter...

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