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Investment EKOCHERAS @ JALAN CHERAS (V4) [MRT PROPERTY] [OT], Where Cheras becomes Mont'Jiulai

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Jagalat
post Dec 4 2015, 10:05 PM

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QUOTE(mybenz @ Dec 4 2015, 02:25 PM)
Really already completed foundation? Or they tipu? From the pic looks like not yet done also
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SnP spelt as follow....
"2(a) the work below ground level of the said Building comprising the said Parcel including foundation of the said Building. (10%)"

I am not sure how to interpret the wording...
For BlkJ, the pile caps are done. The B3 work is almost done (at of the pictures taken), preparing for B2. Clearly B2, B1, LG, G and so on, not yet.


Jagalat
post Dec 4 2015, 10:12 PM

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QUOTE(CMW123 @ Dec 4 2015, 10:28 PM)
I also got call from courier company to deliver doc from ekovest

Mine is block E...block E also completed piling?
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The usual spot where l normally took pictures does not provide a good angle to cover BlkE.
It is clearer to peep from Jln Cheras (near Cahaya Bumi) while queueing for the roundabout.

Any daikor has better progress details about BlkE? Pls share ya....
Gary
post Dec 4 2015, 10:23 PM

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I have received a letter on the change of chargee from ambank to cimb bank. They wan us to sign the letter to give consent. In pursuance to clause 2.2 in spa.
But the clause mentioned they must show evidence of ambank discharge on the encumbrance.
If u guys have a 90% loan, it may delay the drawdown as the chargee is changed. And late drawdown will incur interest charges.
They basically refinance the land to get more money out of it.

Jagalat
post Dec 4 2015, 11:43 PM

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May l know if the land refinancing involves all EKC land or only BlkE and BlkH?
Jagalat
post Dec 4 2015, 11:48 PM

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QUOTE(Gary @ Dec 4 2015, 11:23 PM)
I have received a letter on the change of chargee from ambank to cimb bank. They wan us to sign the letter to give consent. In pursuance to clause 2.2 in spa.
But the clause mentioned they must show evidence of ambank discharge on the encumbrance.
If u guys have a 90% loan, it may delay the drawdown as the chargee is changed. And late drawdown will incur interest charges.

They basically refinance the land to get more money out of it.
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May l know for the scanario above, under DIBS and 90% loan, will the interest charges caused by late drwdown paid by developer? Thanks
HarpArtist
post Dec 5 2015, 08:57 AM

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ekv refinance ekc land?
maldiniho
post Dec 6 2015, 12:29 PM

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This is getting interesting. I receive that letter too and no idea what it's talking about. So what is the implications after we sign that/ don't sign that?


CMW123
post Dec 6 2015, 12:56 PM

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Someone pls post that letter here
ryan@chua
post Dec 6 2015, 12:59 PM

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This project seems like sibeh jialat. Another mall to fail. Sorry to say that even though i know got thousands owners buying here...
maldiniho
post Dec 6 2015, 01:30 PM

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Here is the letter. What do they want now ?

sad.gif

Attached Image
soon9913
post Dec 6 2015, 05:28 PM

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Wondering why block J nv receive this letter but instead received progress billing letter.
Block J n E not on the same piece of land?..

QUOTE(maldiniho @ Dec 6 2015, 01:30 PM)
Here is the letter. What do they want now ? 

sad.gif

Attached Image
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Jagalat
post Dec 7 2015, 12:13 PM

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QUOTE(soon9913 @ Dec 6 2015, 06:28 PM)
Wondering why block J nv receive this letter but instead received progress billing letter.
Block J n E not on the same piece of land?..
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If they refinance the whole land, BlkJ buyers should also receive the letter, else only partial of the land gets refinanced.
So BlkJ buyers can observe for two/three weeks if such letter arrives.
SUShuaweie5830
post Dec 7 2015, 01:47 PM

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Lol

From the photo like still doing piling oni
restful increase
post Dec 7 2015, 02:27 PM

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Block J will receive both the progress billing and also the above ltr notifying a change of chargee bank fr ambank to cimb. Ekovest refinanced the land to get a higher loan amt to improve their cashflow. Block H residents will be receiving their progress billing ltr by the 3rd week of dec 2015 followed by Block E in Jan 2016. This is for the completion of stage 2A of the progress billing claim.
mybenz
post Dec 8 2015, 10:36 PM

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QUOTE(restful increase @ Dec 7 2015, 02:27 PM)
Block J will receive both the progress billing and also the above ltr notifying a change of chargee bank fr ambank to cimb. Ekovest refinanced the land to get a higher loan amt to improve their cashflow. Block H residents will be receiving their progress billing ltr by the 3rd week of dec 2015 followed by Block E in Jan 2016. This is for the completion of stage 2A of the progress billing claim.
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This is crazy. Refinance after sold. Ekovest cash flow so lousy need until the extent to go through all the fuss just to refinance? They need signature from all the buyers. That's desperate move. The next question is what if they could not get 100% return signature. What's next then? How the hell the dato got property man of the year? This is really joke of the year. Any taiko going to write in to ask what's going on?

This post has been edited by mybenz: Dec 8 2015, 10:37 PM
maldiniho
post Dec 8 2015, 10:44 PM

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QUOTE(mybenz @ Dec 8 2015, 10:36 PM)
This is crazy. Refinance after sold. Ekovest cash flow so lousy need until the extent to go through all the fuss just to refinance? They need signature from all the buyers. That's desperate move. The next question is what if they could not get 100% return signature. What's next then? How the hell the dato got property man of the year? This is really joke of the year. Any taiko going to write in to ask what's going on?
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Scary . If buyers don't sign that means they might run into cash flow problem. Worst case abandon the project ?

Anyone going to sign it?
ryan@chua
post Dec 8 2015, 11:29 PM

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QUOTE(mybenz @ Dec 8 2015, 11:36 PM)
This is crazy. Refinance after sold. Ekovest cash flow so lousy need until the extent to go through all the fuss just to refinance? They need signature from all the buyers. That's desperate move. The next question is what if they could not get 100% return signature. What's next then? How the hell the dato got property man of the year? This is really joke of the year. Any taiko going to write in to ask what's going on?
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Hearsay this datuk borrow money from ah long . .... something wrong with him liao, cash flow sweat.gif
ken8805
post Dec 8 2015, 11:59 PM

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really jia lat this time
mybenz
post Dec 9 2015, 12:00 AM

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QUOTE(ryan@chua @ Dec 8 2015, 11:29 PM)
Hearsay this datuk borrow money from ah long . .... something wrong with him liao, cash flow  sweat.gif
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Wah u so power. He borrowed from a long u also know. Really geng u
MEMC2
post Dec 9 2015, 12:03 AM

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This project is really jialat. I feel damn lucky to have skipped this project earlier. To owners of Ekocheras, I think you all should just close both eyes and pay the installment only. Keep taking pictures of the construction site is akin to watching paint dry. Just focus on your job, pay installment and pray hard that nothing goes wrong at Ekovest.

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