Guys, do update here if any of u have received the CN, stamped SPA, loan agreement, etc .. thanks.

In my opinion and some other experiences, I really doubt developer will issue CN.
As they have to dig out real cash to pay you whom make up to thousand of purchasers.
If DIBS is 10K per purchaser, 1 thousands purchasers mean they have to prepare RM10million lah.

They will probably issue offer letter (only 1 thousand logo offer letters.. cheap cheap lah compare with RM10million real cash)
If I was the developer, I will also ask commission from bank for generating sales from them, and offset it with
the DIBS interest,
beside, I will negotiate for an easy payment and low interest payment stream with banks to settle the DIBS,
in return for them to stay as panel bankers to get business from my project.

So, why should developer issue CN purchasers?
Just my view, very soon we will know.

On the 1st place, do u understand what is DIBS and CN? Your statement make me confused.

I did check with my agent a week or so ago. He said the developer will issue CN after SPA is stamped. The solicitor told me the stamped copy will be out in 1-2 months time but no firmed date.

Dear cheahcw2003, isn't CN mean Credit Note and DIBS mean Developer Interest Bearing Scheme?
Enlighten me if you have different understanding.
What is so confusing? again, enlighten me if you have different understanding.

the so called CN is also just a letter with LNG logo stated the amount that purchasers are waived to pay the first 10%. No need to prepare real cash.
In the LNG account, it will only affects the accounting entries (book keeping), "Sales/Turnover" minus "discount allowed" = "Actual Sales"



CN nothing to do with the DIBS. IMO.

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Completion by end 2014? I thought is end of Q3, 2015. It would be good if it's true.

Haha... The reporter reported the wrong info?

I am wondering, the solicitor mentioned that the date of VP will be calculated from the date of SPA stamping date, if the stamping date is around April/May 2012, then the VP will be around Oct/Nov 2015 (construction period of 3.5 years). If the stamping date even later, then the VP will be even later, i.e. early 2016? Then the developer's late submission payable interest to purchaser will be counted from the date of VP. Hopefully the stamping date as soon as possible.

Yup, hopefully we get the stamping done by May

Can everyone tell me why the malaysian obsession with landed properties, and I don't mean those RM3million+ with cliuhouses, as oppose to a condo with full facilities. Lets compare like for like in terms of price.

Block B high floor facing forest to let go

how much u want to let go?

Hi cheahcw2003:
I guess we no need to argue on this, will find out later, when it happen or not happen lah.

Banks do have program call referral scheme of 0.10% of successful loan amount taken by borrower and refer by them. Ex RM 500k loan they can receive RM 500 referral fee upon execution of loan doc.

If just bcz of DIBS and generating sales for banks and ask for commission, banks would rather pull off the end financing and provide somewhere else. Who has more risk? Banks provide end financing to help the purchasers to own the property. DIBS and projects with 10% is deem as very high risk EF. Everyone can buy provided they able to obtain 90% loan.

Furthermore this is only L&G, the limit of the EF is not as high compare to other taikor like Sime Darby, Mah Sing and etc.

Woa... you also invested in this? You got so many bullets, can invest two units from two different places at one go ??

This post has been edited by echoesian: Apr 8 2012, 09:45 AM

This will be for own stay

I responded to a question whether L&G will issue CN. Just elaborated more on why developer
not planning to issue CN. No plan to go too far on this
arguement on relationship between Developoer and Bank.
WIll know later whether Developer issue CN or not lah, no point wasting time on this arguement.

For those who cancel their unit, how long did it take for LNG to refund the RM9,400? Do you need to call them many times?

Hi there,

My name is Sherry and I'm a banker from Public Bank.

If you have any questions or queries, please do not hesitate to contact me. Thanks.


Sherry
012-2796620