Dear All,

I would need help by all parties to escalate this developer whom have been "stealing" money from citizen.

The developer (Magna Prima) was selling their property since year 2010.

The case is as follows:

Many buyers has paid at least RM 150k for the 10% deposit to the developer at least 45 people have signed up to buy the property.

Recently in June 2011, there is a letter stating that UITM is going to take over the property and all buyers are told to meet in the government office in Klang (although property is at Selayang)

After a total of 6 months of waiting and total of 2 meetings, we were told that we will be recieving our deposit back with a RM 300 attendance fee towards the meeting. (till today November 2011, we have till not receive any money back)

However, some people as mention has paid since November 2010 and one year the money at least of RM 200 k (deposit, stamp duty, and lawyer fee) has been paid to the developer and ended up, nothing will be payback but only the deposit + lawyer fee as verbally communicated.

This is so cheating to house buyer as we have lost other opportunity on the alternative purchase of property (every month, property price has been increasing like mad), lost of interest gain from EPF and banks.

Kindly please view the reference below for your reference on the house purchase.
http://www.myrealestate.com.my/viewtopic.p...8f2153bbc1c36f7
http://forum.lowyat.net/topic/1605598

bet on wrong horse.

Agreed. but at least there is one known developer whom is having multiple projects now around KL such as Jalan Kuching, Shah Alam

UITM??

Yes...if i'm not mistaken, there is UITM at selayang..near hospital.this is for medical course...

Buyers of seri jalil better check this out.

This post has been edited by prody: Nov 3 2011, 12:39 PM

Hi Kenny Yew, yes, the project has been called off in June 2011. all buyers will only get refund of the deposit, and lawyer fee. (buyers will lose out interest fee and stamping fee and all the lost of opportunity after waiting for a year to stay at their dream home)

There are many people whom have paid 10% if includes the lawyer fee and stamping fee it could cost up to RM 200 k per unit for upfront payment.

As mention, there were 45 buyers whom have bought the unit, some bought since November 2010 and the money was hold with the developer and it has causes all house buyers to feel that the developer have borrowed money from buyers without needing to pay interest to run their Business.

There is another project near the Hot Spring Selayang has eventaully delayed on the handover process as there was a CF problem.

Buyers for One'Sierra was launching a complain to the developer and the developer did not make any comment and ignore 50 + buyers at the area.

So at least, kindly please be reminded that at least Magna Prima Berhad has a case on cheating buyers.

Sad to hear this. This is turning out to be another T Corp in the making. You have to keep pursuing this developer constantly, and be on the alert before he runs away with everybody's money.

I'm never buying another property again in this place.

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Added on November 3, 2011, 10:35 pmOne more thing - there is no point going after the company name, in this case Magna Prima. The directors behind will just close the company and start another somewhere else.

One must go after the persons responsible in the company. Who are the listed directors ?

This post has been edited by Hansel: Nov 3 2011, 10:35 PM

A quick check to its website (http://www.magnaprima.com.my/) shows a truly 1Malaysia Board of Directors.

luckily i almost wanted buy this place..

these days, stil manyyyyyyyyyyyyyyyyyyyy want to buy properties at such unbelievable price even though recession is near. Manyt hink asia is in recession...aduh, belum datang sudah cakap sampai.

the prices are ridicilous, unless you are investor then it's different story.

I dun think Magna Prima is cheating, dealing with compulsory acquisition issue with gomen pertaining to the compensation matters might take some time, I dun think any developer is hoping this thing happen to them (after they hv launched their project and marketing campaign), I believe purchasers who booked Anggun can hv compensation on top of the deposit they paid to the developer.
Magna Prima still has 2 of the most beautiful lands in town to be developed, they won't simply jeopardize the reputation and affecting theirs' future sales.
Follow up closely with the person incharged to get the latest news.
One of Magna Prima director is Mr Manjit Singh, a very famous lawyer in town, perhaps buyers can seek advice fr him.
It is too early to judge Magna Prima with such a harsh accusation.
The title is more suitable for Talam Corporation Berhad (New name : Trinity Corporation Berhad)

This post has been edited by UFO-ET: Nov 4 2011, 12:54 PM

This is lost opportunity cost

Ya, is bad luck though

Still long to go for recession. It is resilient. Don't worried. Feedback I get from the poll http://forum.lowyat.net/topic/2093540 say that nearly 30% is still thinking property is reasonable and cheap.

This post has been edited by kelvinfixx: Nov 4 2011, 04:17 PM

I think you would not write like this if you are one of the buyer....if the needle dun poke you, you won't feel the pain

Are you sure Talam use Trinity Corporation Berhad for launching of new property? I though Trinity
is headed by Dato Neo Soo Keat who develops Zest and Z resident in Bukit Jalil.

Trinity Corporation Berhad = Talam Corporation Berhad

Trinity Group Sdn Bhd = Dato Neo

Both tala samalah

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Added on November 5, 2011, 1:44 pmSo, wat yr suggestion to console those victims (to make them happier)?

Burn down Magna Prima HQ?

This post has been edited by UFO-ET: Nov 5 2011, 01:44 PM

yea talam plus dato neo together will form the biggest property empire in msia

It is never about consoling the victims.
The topic is about how dev handle this situation. Look at how the TS reaction and his comments on this, it tell the picture how situation is handled.
It is whether the dev has not done a good job in handling this or not? It is about communication or assurance to buyer, or even some light what is going to happen.
There nothing I can do to make the buyer happier except for the dev