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 Good INVESTMENT (PORT-DICKSON),SPLASH PARK PROJECT, BEWARE!!!! PROBLEMATIC DEVELOPER!!!!&#

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jason_chee
post Jul 25 2013, 12:56 PM

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QUOTE(DrPitchard @ Jul 25 2013, 12:01 PM)
And more importantly, on the developer:

Splash is developed by TANCO HOLDINGS BERHAD. So far, for the past 3 quarters for Financial Year 2013, the company has been making a loss of RM10million!

To make things worse, this company was once a PN17 (financially distressed) company few years back.

http://www.thestar.com.my/story.aspx?sec=b...iness%2f8760719

http://www.propertyguru.com.my/property-ne...ater-theme-park

Please do your due diligence before investing in this project.

For me, it is not feasible at all since the concept is hard to sell and it is a product of a very problematic company.
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TANCO??? I thought they bankrupt? They are the DEVELOPER for BANDAR COUNTRY HOMES @ Rawang. But they abandone the township development after few years establishing Bandar Country Homes. They have a good concept for BCH but fail to execute it properly. i remember when i move in in year 96, there is hype about supermarket being built but guess what.... nothing is being done. Recently, i heard they are bankrupt and sell all the land in BCH to supplier and other party to get more capital for the company. I'm not sure how true but, the so called Supermarket is now being construct for ECONSAVE. hmm... since 96 until now. a total of 17 years. i don't think it's under the initiative of TANCO.

besides, BCH has a club house previous which is operated by TANCO under DutaPalm Resort. the whole club went into drain. Now, the club house is vacant for some times. i think at least 2 years vacant. i'm not against TANCO or Against the SPLASH Project. but i just wanna share out my disappointment on TANCO developer and at the same time, alert some investor.

i might be wrong. but for potential investor, pls do your own research. You may come to BCH @ Rawang to view the leftover of TANCO. BCH is coming up and booming now. but not because of TANCO. it's because of Anggun, Emerald Project and surrounding project such as Saujana Rawang and M Residence which is nearby BCH Township.

 

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