Pitty... The 90% completed commercial building beside got abandoned for many years.

Hope everything will be OK eventually. Still a nice location that just right behind the happening China street shoplots.

This post has been edited by wotpian: Jul 20 2022, 11:29 PM

Hope is a wishful thinking if no actions are taken. Hope the buyers accept the truth and move on to the next steps.

Keeping quiet and pay the progressive interest monthly will not benefit anything.

we have whatapp group to join?

get media attention . more ppl present .
otherwise this problem wil not move to next step.

Quite a waste if this area can't develop up. Recently went to these nearby area for dinner. The back row of shops really crowded and happening. Big China groceries shops can be found here. A real Chinatown.

This post has been edited by wotpian: Jul 26 2022, 08:48 PM

parking is a pain though

Indeed. Currently got a big open air parking with fee just right at the corner. But think not enough for the cars here.

Kuchai here really need a big multi-storey parking building like Sri Petaling and USJ Taipan to cater for all the cars here. Kuchai NSK parking just abit too far from here.

If this development completed, believe it will have many carpark spaces with fee available for outsiders, to ease the parking space shortage around here.

This post has been edited by wotpian: Jul 26 2022, 09:07 PM

Yeapz. They have a group to update you on what is happening. It’s nice to get an update on the status every now and then.
If there’s any next step to take, you can always consider to join them or not.

I think u r on the wrong topic though... I suppose u r actually talking about Kuchai Sentral. Kuchai East is right beside NSK.

True, I mistaken the project. The building progress stopped quite some time.

If the progress stopped more than 6 months what could it means?

which stakeholder? better create more noise here so the developer force to take action...

here no ppl layan one

better put up banner in front of developer/main con's office and call reporter for wayang

Sorry to say that... many here eat popcorn kepoh wait to see wayang only.

they may consult ' the mark cheras'committee . lack of media attention, valid agency wont take serious and wont take action so soon. becos on their hand got many abandone cases or Developer side already meet cik raswah

This post has been edited by danielisme: Aug 3 2022, 02:40 PM

Hi purchasers, as creditors of the developer company, you have the right to intervene in the winding up petition and nominate your choice of private liquidator. If you are keen to explore this route, pls pm me and we can share with you more on what the liquidators do and how it would benefit you.

How is the process be like? What are the steps needed? Will this action affect other legal matter? As abandonment of housing project is a crime under HDA?
If follow ur logic means there are no abandoned housing projects in Malaysia already? Many other housing projects still unfinished for many many years, can login to kpkt to see the statistics?

Many reasons lead to project abandonment, one of them is the mismanagement by developers. While purchasers can seek KPKT’s intervention, liquidation could be one other possible method to rehabilitate an abandoned project.

How? Liquidator, if appointed, will first do a feasibility study on the project to determine whether it can be rehabilitated. Subsequently, the liquidator can carry out a Scheme of Arrangement exercise under the Companies Act 2016. The said exercise involves the relevant creditors (including secured lenders and purchasers) and potential white knight, with the aim to rehabilitate the project.

With or without the liquidation, every purchaser remains obliged to service their bank loans. The longer the project has been abandoned, the higher the rehabilitation cost due to the deterioration of building structure, vandalism, increased construction costs etc.

Therefore, it would be in the best interest of the stakeholders to act fast - seek the necessary legal advice, and leverage on the provisions of the Companies Act 2016 to appoint a liquidator to take control and take possession of the project site.