They were still advertising on star paper early nov on some balance u its....this is quite a surprise

No surprise.
Mayland is the major shareholder in LnG long time lo.
now take over LnG is just a matter of time.

Mayland already took over L&G unofficially.

Mayland Chairman's daughter is the CEO of L&G now, and i was told L&G's staffs got their pay check (monthly salary) from Mayland. Mayland (or under their nominees) are the single biggest shareholder in L&G.

Back in year 2013, L&G was the 7th most cash rich property developer in the country.

http://klse.i3investor.com/blogs/kianweiaritcles/65117.jsp

The above website analyzed the financials of L&G, it shows that the company has strong Current Assets (cash, deposits and bank balances), profit is improving, thus retained profit is growing as well.

The daughter has resigned from the Board and the son is one of the director now.

We know that L&G is reporting good profit but they should take care of its purchasers interest rather than continue with the famous mayland product quality delivery and I always thought that L&G will be a different animal. Anyway, the issue here is once they delay in payment to the contractors, the contractors will not deliver quality work and there goes the quality of Foresta when we accept VP or the VP will be delay. Any insider news why the delay in payment to contractors when the sales is above 95% and money in the HDA account, the developer cannot touch anyway except to pay contractors



This post has been edited by CMW123: Dec 29 2014, 08:20 PM

i also want to know what are the true story behind.

Mayland has the tendency to delay the delivery and refuse to pay LAD, but that were for those projects without DIBS. Unlike DF which is under DIBS, the longer they drag, the more interest expenses will be involved and it will eat up the retained profit.

We need to hear the story from both sides, the delay in payment are quite common in construction industry, it also happened on the reputable developers projects such as YT(_), and DIJA(__).

We also can't count the number of floors from far, and concluded that no progress on the projects. Some blocks already reached the top floor 4 months ago, a lot of things need to be done on the interior of the condo which is not visible from the main road.

i am not taking side, but just to see things from more sides of the coin. Refrain from panic just because of hear says

Bro, since you stay so close to DF, do you see that the construction stopped?

I remember pass by few weeks back and saw many contractors cars parked in front of sales office and at the slope....doesn't seem like construction stopped

Investor here, i don't live there.

Hi guys, I passed by yday & some photos were taken. The construction is in progress in block B, C & D as what I could see from afar. Less activities were observed since these were taken after 6pm.



This post has been edited by 1282009: Dec 31 2014, 03:43 PM


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Was at the road outside the sales office this noon at 12 pm.

Observed there for 5 mins. Saw few heavy lorries carried construction materials up and down.

I am sure work in progress !!

If phase 2 is launching early 2015 no reason to stop work and put doubts into prospective purchasers...

Good luck.....that hill.....look dangerous.

any latest info on its completion?

Think we are tired of this sort of comment already.

What hill? That is nothing

look nice...

basically we just need to ignore this kind of comment

lol

Yeah,

Guess you are not staying there...so no worries. As for now your comments is irrelevant. Any more good advise ? Seems like you are a wise guy who know more things than most here been discussing for years.

Please enlighten us here...

It's true. I stay around there and every morning have to pray that the foundation is strong to hold the high rise building. Horror stories is , it sanked a bit during construction and they have to further reinforced the foundation. Wanted to post a pic here in the past but don't know why didn't get uploaded.

I am not pouring cold water.. into this project. I love the concept of foresta also. Just I am doubting their workmanship / capability on building so tall and high density condo on a hill.
If something happened... surrounding areas will get effected as well incl where I am staying. That's why I can only wish and pray that everything is good upon completion.

Thanks for the updated photos. However there is not much changes from my last visit in the third week of Dec. and I do notice all windows and block C, especially have been stopped for any installation/construction. The block c has remained stagnant at the second highest floor since long which makes me doubted why the constructor PYS does not complete it for merely 2 floors to go. Furthermore, the interior construction is done by different constructor which obviously does not interfer others progression.
On top of that, I heard from an insider that this project has been fully taken over by another co, where the construction work will only resume by then.
FYI, I had personally witnessed/experienced how Mayland delayed payment to constructors and eventually leading to the delay of handing over of keys. The Account Manager from Mayland has always advised the constructors to adapt to their culture and accept that the payment being late, this was the reason why PYS stopped and left behind the Cheras Sentral project eventually.
Tired of hearing all these...