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Investment SELAYANG STAR CITY | POLARIS SUITES | VEGA SUITES, Beauty couture has a new address

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gks
post Jun 5 2017, 09:59 AM

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QUOTE(poilamixus @ May 9 2017, 06:21 AM)
Luckily didn't follow Faizul Ridzuan and his BMV team to buy this project ..
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Mind to share why you said so?
gks
post Dec 4 2017, 06:36 PM

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QUOTE(yoonchuan @ Dec 4 2017, 06:05 PM)
New rail link study

Mass Rapid Transit (MRT) Corp Sdn Bhd is studying the possibility of constructing a rail link between the city centre and Bandar Baru Selayang where there is high demand for public transport.

It is understood that MRT Corp has engaged Min Consult to undertake a feasibility study.

The study will determine whether it is feasible to build a MRT or light rail transit.

It will also determine the best possible alignment for the proposed rail plan, known as the Selayang Link. The study will be presented to the Land Public Transport Commission.

It is understood that the rail link will start from Jinjang to Bandar Baru Selayang at a distance of about 10km.

https://www.nst.com.my/property/2017/05/240...s-lift-selayang
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This is a long shot... nothing in Malaysia Government plan mention about this. some development for example MCity has put the MRT Station in their brochure when it was launched 5 years ago and until now... the final alignment also yet to be seen.

Suggest you do not put this into the buying decision.
gks
post Dec 4 2017, 06:39 PM

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QUOTE(poilam @ Dec 3 2017, 04:57 PM)
Thanks to Faizul Ridzuan and I am now one of the victims !
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If you are one of the buyers, suggest you engage with KPKT and try to find out what happened... If you suspect element of abandon... you can furnish photos, document as backup. With Election is coming, KPKT may buck up and try to engage with developer for the development.

Just 2 cents suggestion.
gks
post Jan 8 2018, 03:37 PM

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As I understood.. selayang star city has SOVO and residential components that opened for sale to public.

If you bought SOVO, the best is to check your SPA for LAD eligibility. Most likely developer already cover their back to minimize LAD exposure risk.
gks
post Jan 8 2018, 03:39 PM

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QUOTE(bearbear @ Dec 27 2017, 10:23 AM)
he claimed after he offer buy back all his client step back and want to wait wo, really no one go challenge his buy back?
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Not so easy to buy back if the project not completed yet... as the legal ownership still not handover to buyers yet.

If the project already VP, why still want to sell back at cost? Unless the market price drop below developer price and FAR guarantee the buy back price.
gks
post Feb 3 2018, 11:09 AM

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QUOTE(AskarPerang @ Feb 3 2018, 09:27 AM)
Sifu comment.

[attachmentid=9567894]

[attachmentid=9567895]
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Other delayed projects also from same developer?

Need to put apple to Apple comparison.
gks
post Mar 15 2018, 08:57 AM

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QUOTE(JonathanIB @ Mar 15 2018, 08:54 AM)
Will they able to buy back?
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If the project is abandoned... the simple answer is no.. but maybe they can shoulder the progress interest and reimburse the downpayment haha.....
gks
post May 6 2018, 03:11 PM

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QUOTE(raymondtan84 @ May 6 2018, 01:49 PM)
So why was this project a good buy? No one said anything about why this is a good buy in this thread...
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Who says it is good buy?

In any case.... Do bring on facts and we can discuss/debate...
gks
post May 27 2018, 10:10 PM

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The reason businessman use company as a shell to protect themselves and liability.

Not the intention to rub the salt to the wound, but as a buyer who buy off-plan the developer reputation is very important in the decision making. Of course there are premium attached to these developers. that's is where the balance of risk and reward comes to play.
gks
post Jul 30 2018, 12:11 PM

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https://m.facebook.com/story.php?story_fbid...517333231733894
gks
post Jul 30 2018, 01:58 PM

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QUOTE(hkchan231 @ Jul 24 2018, 12:51 PM)
I got it also... what is this use for?
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What does the letter says?
gks
post Aug 8 2018, 12:34 PM

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QUOTE(michaelchang @ Aug 7 2018, 10:49 PM)
The mall is at least 60% complete, if they really abandon project, maybe DBKL could get someone else to take over.

Such a waste to abandon, the initial idea of this mall is good.
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I think the mall at this location at first place is already a bad idea.

Some developers put a mall not because the catchment market but purely to sell the whole development at premium price.
gks
post May 10 2019, 02:02 PM

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QUOTE(hkchan231 @ May 10 2019, 11:36 AM)
Advise from legal firm.... even this project not complete.... the interest stilll need to pay yo bank. otherwise the bank will sue us bankruptcy......

i am not going to buy any property that in not complete now. really lost faith.
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This project is delayed for too long... I am afraid even if it see light at the end if tunnel, you will not getting any lad. Probably some white Knight may comes to rescue however you still need to top up as previous Drawndown already spent.

But all these are better option than abandoned.
gks
post May 13 2019, 07:51 PM

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QUOTE(icemanfx @ May 13 2019, 07:41 PM)
Pay more to reduce principle gradually.
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This is throwing good money to chase bad money...
gks
post May 13 2019, 07:53 PM

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QUOTE(hkchan231 @ May 13 2019, 11:02 AM)
well, it is true that i didn't check on hda protection, but according to the Malaysia properties rule, all commercial lot have no HDA protection.
so, if buying commercial lot... then sure no HDA protection.
Buying the residential lot is intension of investment. Easy to rent out.
leadmount is a strong company, but miss out the sierra delima is just a newbie company that leadmount decided to "expendable" whic that hit me.

anyway, wrong is wrong. only the lesson is expensive.
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I do not know where you heard leadmont is strong company... But from their past projects, the execution, products etc leave much to be desire...
gks
post May 13 2019, 08:31 PM

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QUOTE(icemanfx @ May 13 2019, 08:29 PM)
Beside bank write off and borrower pay off, what other choice these borrowers have?
Unless bank is charitable to write off the loan, borrower is liable no matter what. Paying unnecessary loan interest is not throwing good money away?
Until you come out from coconut shell/kuptung, you won't understand.
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It is still... However it is your obligation... Reducing principal is not your obligation and you can deploy the capital to elsewhere... Somewhere that is more productive.
gks
post May 13 2019, 08:48 PM

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QUOTE(icemanfx @ May 13 2019, 08:37 PM)
Provided you could get better return i.e higher than loan interest incurred from elsewhere.
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Dumping cash to abandoned prpejct will give you better return?

That is where the term throwing good money chasing bad money coming from...

This post has been edited by gks: May 13 2019, 08:49 PM
gks
post Aug 25 2019, 12:31 AM

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QUOTE(AskarPerang @ Aug 25 2019, 12:18 AM)

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It is not easy to develop integrated development. Even if developer manages to complete a project, it may not turn out to be successful if not managed correctly.

Hence successful integrated development always command a premium.
gks
post Oct 30 2019, 09:55 AM

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QUOTE(hkchan231 @ Oct 30 2019, 06:58 AM)
Not sure how far i can hold the interest before the bank issue me warning letter.  now really feel on paying money for nothing....i
just don't understand, how come the bank issue to the developer 50% where my house (floor) is even not build a single brick...... i think paying a premium for completed units should be better inorder to have suck painful wound every month....😖
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Sorry to hear the purchasers ended up in such predicament. The best you all can do now as purchasers is to group up, and discuss next course of action. As a group, you will have more leverage (and pool the money) when engage with developer, financier and future white Knight.

As long as developer didn't declare themselves bankrupt, liquidator couldn't be appointed to savage the project and to appoint White Knight to continue with the project.

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