tenant la

Something like that. Some needed long period treatment will have to stay for months or years with family here rather than staying in hotel.

the pic is very blur , cant really read from the map...

Since I know 中国报become 走狗报 I quit reading it let alone buying. Advertisement is an exception.

I am told something similar that GL is considering opening additional access at the back link to the carpark, I dodnt pay much attention then cos i have m not familiar with the existing surrounding roads.

yes, GL didnt promise anything but will consider to make one if it is viable. the cost to open an access to connect to existing road is really peaaaaaaaaaanut to them.

Oooi ! phase 2 start already??

Sold out quite some time ago.
Better call Sale Office to get latest update.

Ya glad to know that!
Question is when this arbitration gonna hand out its final award to get thing started.
"Awaiting completion of arbitration proceedings" sound very near yet very far. Lawyers just like to drag don't they?

Ya glad to know that!
Question is when this arbitration gonna hand out its final award to get thing started.
"Awaiting completion of arbitration proceedings" sound very near yet very far. Lawyers just like to drag don't they?

Anybody signed the loan agreement? How much u guys pay for the reimbursement?

GOOD NEWS !!!

BY BAVANI M

THE abandoned Plaza Rakyat project in Kuala Lumpur will finally be revived next month with a new developer named after the Kuala Lumpur City Hall (DBKL) takes vacant possession of the site.

This was following the arbitrator’s July 4 decision in favour of the local authority which stated that DBKL was lawfully entitled to terminate the joint-venture agreement with developer Plaza Rakyat Sdn Bhd (PRSB).

But this comes with a heavy price.

The same arbitrators had also ordered DBKL to pay PRSB’s bank loans based on an undertaking given by the former although it has no legal obligation to do so.

Now DBKL has to pay a whopping RM200mil of taxpayers’ money — RM100mil to PRSB for the structure and foundation of the 20-year abandoned project, and the balance for bank loans with interest that had snowballed since 1992.

The initial loan taken was a total of RM58mil. It is learnt that DBKL was in the midst of negotiating the amount to pay the financiers.
Rusty metal bars and concrete at the abandoned site.
Plaza Rakyat on the other hand must pay DBKL RM30mil for arrears of quit rent amounting to RM7,043, 500, arrears of lease rental amounting to RM2,525,000 and RM20, 045,000 in liquidated damages.

In order for DBKL to take vacant possession of the site, it has to register the award with the authorities.

The order has raised several immediate questions, chief of which is why did DBKL agree to pay the sum when it never took the money from the banks.

“This sets a dangerous precedent whereby public funds are being used to pay banks which loaned money to developers.

“The question is, despite not having any legal obligation to do so, why did DBKL agree to pay the sum,” asked an informed source.

Defending the move to pay up the charge, Kuala Lumpur mayor Datuk Seri Ahmad Phesal Talib said DBKL had to settle the charge over the sub-lease before they could cancel it.

“The decision for that loan to be settled with the bankers had been decided by the arbitrator earlier as a separate decision that needs to be obliged by DBKL.

“What’s important is Plaza Rakyat must be revived as it is not in the city’s interest to delay the project further. We are pushing to start as soon as possible. I want this solved during my tenure.

This post has been edited by bb68: Aug 14 2014, 02:55 PM

First 100mil is fair as it is work done value. The loan interest is very fishy but the best news is the bleeding has stopped. The revival not only will benefit TR but public as well.

It was 1.4B GDV then and Ivory proposing 8B. Only Disney Land Park will match the GDV I guess if u really want a park.

Nice shots!

This project takes 4 years. They have time on their side to be slow but hopefully with high quality product.

Ya, I don't mind collecting 6 month LAD LOL!

Anyone one can confirm if the aircon provided by developer is of inverter type? If not it would be messy to change. ..

really? they may give you latest normal type. I asked them few times but never get an confirmed answer

September. Gonna take a few more ?