Agreed that they are many reasons for refinancing, but should ekc not do so for properties/land which do not require hundreds of buyers' consent before it goes through?

Any other buyers experienced this before?

Agreed that they are many reasons for refinancing, but should ekc not do so for properties/land which do not require hundreds of buyers' consent before it goes through?

Any other buyers experienced this before?

Only heard of developer getting consent for land initially not charged but subsequently need to get loan which is a messy process

I think they not only need to get purchasers consent but maybe also the end financiers consent

Actually they should call a briefing session for all purchasers...

Just a raw suggestion....buyers with the notifying letter, would you like to gather at their sales gallery and request for a QnA session? What's your say?

will u sign the letter if no incentive for u? i bliv some r overseas n wont be able to sign it etc..

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 kor, may i suggest that u start a whatsapp discussion group and whoever want to join can pm their mobile no. to u.

Thank you Sir for your effort in helping all purchasers to keep track of the construction progress all the time!!

Jagalat kor, may i suggest that u start a whatsapp discussion group and whoever want to join can pm their mobile no. to u.

Thank you Sir for your effort in helping all purchasers to keep track of the construction progress all the time!!

Only heard of developer getting consent for land initially not charged but subsequently need to get loan which is a messy process

I think they not only need to get purchasers consent but maybe also the end financiers consent

Actually they should call a briefing session for all purchasers...

Im not a buyer of ekc. What i wan to say is that, when a corporation trying to refinance to other banks, it could be due to many reasons but not neccessarily bcoz of tight cash flow. It could be due to better interest rate / longer loan tenor offered by the bank OR is their corporate strategy to extend their banking relationship with other larger banks for future expansion OR maybe the land value has appreciated over the years that allow them to get higher loan margin to fund other projects. For individual like us, we may view an additional loan would caused us higher commitment, but for large corporation's view, additional borrowings may be their 'weapon'' to grow the biz and eventually turn better ROI. I believe big bank like CIMB has already evaluated eko biz performance b4 they lending out the $, especially if the loan amount involved few hundred millions RM or more. Just my 2cents

Lol. Thousands High density development.  Whatsapp group notification can finish up your phone battery.

EKC has already refinanced the land for a bigger loan sum with or wihout your consent. The letter is just a notification notice to the buyers. The refinancing has already been completed. Personally i am not too concerned if the project delays till 2018. The property mrk will still be in a doldrum till end of 2017 judging fr anecdotal observation which is largely contributed by oversupply of apartments, low oil price, inflation. Let the mrt run its course at the end of 2017 first b4 getting VP for this project. Also retailers are not having a good time now so best let Eko Mall launch in 2018. By then there maybe an upturn in the economy hopefully.

Likely need money for Bandar Malaysia project.

any source to verify this?
As per the SPA Sch H clause 2(1), it is clear that developer needs to get approval of purchasers, not notification. However, it seems nothing mention about refinancing of the land.

got the information from ekovest staff.

There has been a Facebook group created for owners.
I try to avoid redundency of communication effort/platform...

https://forum.lowyat.net/topic/3021334/+1864

But if most buyers in this forum prefer to use whatapps chat group, then l can setup one.