in Construction, once the work stopped the G&P cost will explode and money burnt each day. Mammoth has done all it can to get it going but fact tells that they failed. Revival by its own almost impossible.

What is G&P cost?

General & Preliminaries

and I am referring to its own and its contractor claims too against Mammoth. Messy contractual claims...

have to give credit where credit is due.

it is already an eye opener that mammoth manage to get EC up to where it is now on their own.

bear in mind that they are not public listed entities.
with borrowing from banks to fund the project.

if only they have plan it in phases instead of one go, it may be much more manageable.

anyway, that's history now.

it will be an awful waste to let it rot.

just that the later the project completes, the revival gets harder each day.

From what I know MEH owns the whole office tower and shopping mall. It's a commercial development and MEH owes no obligation to complete the mall. The only risk associated with buying the EC unit is MEH keeps on delay the opening of the mall.

From what I know MEH owns the whole office tower and shopping mall. It's a commercial development and MEH owes no obligation to complete the mall. The only risk associated with buying the EC unit is MEH keeps on delay the opening of the mall.

Also if empire goes belly up....owners of ec apartments will have problem getting titles in future...

Actually if hey opt to sell the office tower now, can probably pocket a handsome sum to keep things moving.
Anyway heard new rumours that they are looking for China white knights to take up some stakes

As if meh need not repay bank loan (a few hundred million rm), service loan interest or pay suppliers, contractors or services.
Without individual title, foreclosure on assignment collateral is less hassle and quicker.

The purchaser can get disclaimer letter from master chargee to exclude his unit from any foreclosure proceedings taken against the Developer.

Provided developers bank give consent to this disclaimer letter.

sorry, if I already bought the unit from Empire (which empire already got fully paid), am I going to lose my unit should empire goes bankrupt even if empire still the master holder of title?

Provided developers bank give consent to this disclaimer letter.

Something big is coming beside empire city 

sorry, if I already bought the unit from Empire (which empire already got fully paid), am I going to lose my unit should empire goes bankrupt even if empire still the master holder of title?

Something big is coming beside empire city 

Don't worry, it is a very normal procedure to obtain the disclaimer letter from master chargee (Developer bank) when u purchase a property. The Developer bank can't foreclose your unit after u obtained that disclaimer letter.