Love it.

The sunday and halo got ccc lioa..so they wont be empty...
But u just need to put up with hazard construction site and ingress ans engress wont be there to convienence the tenants.

Hahaha. Maresians.

plaza rakyat also considered advance previously?
or what about the grand hyatt?
and many many others..

empire doesn't own the land that ec or ec2 is built. it belongs to mk.

as for meh, no doubt they still own profitable asset in subang empire mall and the hotel.
but as in all self-owned assets, the profits needs to be channeled towards repayment to financials.
but those are peanuts compared to sums required to complete ec.

ideally, white knight coming to take over would be the typical move.
but given that materials used could be substandard and building not in conformance to standard specifications, it would prove extra difficult for other developers to play ball.
unless a similar modus operandi styled developer comes along.
kekeke.

was looking forward to ec actually. with brand new concept into retail industry. meh founder got vision. give him credit for that.

Unker.. do u know the process of taking over an abandon project is not easy and it requires a lot of additional funding. And most of these funds come from owners' pocket. To add on to that, EC is not a few hundred mil project lor... 🤐🤐🤐🤐🤐

The new developer is better off developing a new project which has better operation flow and better profit than taking over such a big time bomb. If it's so easy then the abandoned hotel along sultan ismail or plaza rakyat would have revived long time ago.

Lol.. so experience wey u. No wonder yr personal view leads you into setia alam la..

This post has been edited by mthc: Aug 2 2016, 08:51 AM

+1 haha.. hope the mall abandon also. And leave the whole thing there for two decades.

Plaza Rakyat and Grand Hyatt case.. it is more of legal/politic issue rather than practicality of reviving it...Unless you hear a different story which you would like to share. In any cases, there are many cases where development revived such as Main Place, Lagoon Perdana, Maisson Damansara.

However I do agree with Beancounter that it seems the construction is way too advance for it to be abandoned. Bear in mind.. Halo/Sunday already got people moving in.

Boss. Taking over an abandon project means you are also taking over EC debts of at least 1b from Ambank. We have yet to include other retention sums etc. Are the current owners willing to top up the many many additional to do so? Will banks still continue lending to these exisitng purchasers? Developer taking out few bil from heir cash reserve to revive EC and put their company in danger? Or approach banks "hey bank.. I need 2b to revive EC.. PLS BORROW ME.."

Let's go to legal paperwork. The charge of the land. How long does it take to transfer charge then?

How big is main place etc compared to EC? You say only easy la. Wait till you try doing m&a one day then u know the pain lor..

Lol.. more and more funny ppl

This post has been edited by mthc: Aug 2 2016, 09:17 AM

At first place...is the project abandoned already?

Construction project is about cash flow. If loan disbursement is used elsewhere the project may not enough to complete even if left with 10%.

If take 5 years to revive a project, the buyer will suffer 20% interest payments.

If you saw the progress billings.... the developer would have incentive (and make more money) to run away at earlier stage of construction stage and not now....

The news are all over the media so we all know MEH has cash flow issue to finish his project. My point is... if they have intention to abscond with the money, they would do it much earlier like the boss@klang and not at current stage. It is a final push from MEH to deliver the whole masterplan to the purchasers.

This is strictly my non-insider view looking at the scenario. But you have to hat off to Dato Sean if they really manage to pull off this Empire City.

it will be better to get your property and suffer the 20% interest.

Rather than paying perpetually your interest without getting the property. As a buyer for undercon property, we need to be realistic and when it is abandoned, we just need to find a way which is less painful.

But these ppl will say "project almost competing ady. Just zap Sao mei can ady".. so easy these ppl go takeover also can lor

The retention sum itself probably cost hundreds of mils to cover lol.

"Final push". Right. Just because the structure from the outside is 80% compelted but inside probably 20% done.. can consider final push also. Geng. Give u 1 like.

No it hasn't and I was replying to beancounter till you interfere because my reply was solely towards him.

So at first place.. are u aware of what the reply was for?

😆😆😆

Well said....

No wor. Please enlighten with ur wisdom.

just drive into penchala link and peep into their backside...the place looks like a place fit for some painball activity and not a proper developed project...

i pass thru remix almost everyday and for the past few month everything looks the same even the hording are tearing off bit by bit

so technically they are in deep shit...advance stage or wat..no money means no one will work and furnish it...given the choice will u go to ikano or drive into a semi construction site to visit a F&B there...no one wants to eat dust

No wisdom la. Come here bullshit and tok kok like you only ma..

Where got so smart like u