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Investment Bad Developers!, Bad Developers

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TSSlappy
post Sep 27 2012, 01:02 PM, updated 14y ago

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A very bad developer to watch out for:

PLENTIFIELD SDN BHD - Developers of Melaka Business Centre in Ayer Keroh

My experience with them:
- Bought a property in Sabah from them in 2009, a commercial shoplot run by Best Western hotel.
- Supposed to complete in Aug 2010.
- In Aug 2010 they told us delayed until Feb 2011.
- In Feb 2011 they told us delayed again until August 2011
- In Aug 2011 they told us delayed again until Feb 2012
- Now its Sep 2012 and property is still not handed over to me

- They are supposed to pay late interest of 8% pa to me. They refuse to pay.
- They are supposed to reimburse my loan interest payment (something like DIBS) - they refuse to pay for 2012
- They continually lied to us saying its completing soon and then suddenly they give me a letter saying that their engineers said in Nov 2011 asked for construction extension due to 'lack of manpower' and 'bad weather'.
- They are using said engineer's letter to get out of paying us late interest.

Overall, dishonest, lack of integrity, poor project management, poor customer service, poor everything.

Do not buy from this developer!!

If anyone has any other bad developers to share, it would be much appreciated also. Although these clowns are not blacklisted, we nee to know about them to save us alot of heartache!!


TSSlappy
post Sep 27 2012, 03:14 PM

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Gark - at least your developer is more honest and willing to re-imburse something... that is a more honorable way to do it..lucky for you!

As for suing them - yes, I am considering. Unfortunately standard HDA rules do not apply to commercial property.. they did not actually breach the contract because contract says they are allowed to not pay late interest if they have official letter from consultant like the engineers letter. So, not sure what is the chance of winning the case if we sue..
Looks like we are in a bad position. thats why I'm posting this.. so all u guys out there be careful!

 

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