now this is the job of the RAM... but RAM are not like auditor.... they can't do anything if the client dont provide them with anything... and they wont verify the authenticity of the info provided... just based on reasonableness and forecast on the direction of this Company's performance....

What make them reach this stage of financial situation at the first place ar?

so in theory, the riskier the investment, the higher the % offered?

what do you think is the reason?

Dear purchasers,

The Empire City @ Damansara development has caused a number of problems for purchasers. The main problems are delay in completion of units and delivery of vacant possession to purchasers when units and common areas remain uncompleted and inaccurate/unfair calculation of Liquidated Ascertained Damages (LAD) by the Developer.

The issuance of the Certificate of Practical Completion and the Certificate of Completion and Compliance before actual works are completed further puts purchasers at a disadvantage.

In addition to this, we are also of the opinion that there is another underlying problem for purchasers, namely the unreasonable terms in the sale and purchase agreement (SPA). It is already clear that the effect of some of the terms of the SPA allow the Developer to deliver vacant possession of the units even if the units and common areas are not completed. However, purchasers may not be aware of the other terms of the SPA which allow the Developer to charge unreasonable hidden costs and even forfeit and take possession of a unit if the purchaser of a unit breaches any major or minor term of the SPA. The SPA signed by purchasers is no longer just a sale and purchase agreement for property. It has become a profiteering device.

We believe that the Developer has gone too far and cannot be allowed to continue to take advantage of unsuspecting purchasers. As such we intend to have a meeting with all interested purchasers to discuss the problems with regard to Empire City @ Damansara.

If you are a dissatisfied purchaser and you wish to attend the meeting, kindly email action@lexlnc.com
Please provide the following details in your email:
Name:
Tel No. :
Unit No. and Block :
Date of SPA:
Purchase Price :
Date of Notice of Delivery of Vacant Possession :
Please also include a brief statement of the problems/issues/experience you have encountered regarding the purchase of your property at Empire City @ Damansara.

We will inform all interested purchasers regarding the time, date and venue of the meeting via email.

more bombs will come from MEH. good luck to Empire residence , City and Remix buyer. i guess soon or later we will see MEH in newspaper again

BTW how was the Empire Residence progressing? already VP for all the phase ?

http://www.theedgemarkets.com/my/article/n...malaysian-malls

With a glut in retail space and poor performance in retail sector, until there is a change in market sentiment, doubt ec could sign up enough tenants to open any time soon.

exy boss and staffs dig own shallow graves liao. boasting of being top10 richest in malaysia and biggest mall in region once ec2 is done. oops ec1 also big prob alr. how did they end up like this...from a successful ES...

Hubris. D engrish say, "Pride cums b4 a fall.".

does not sound good at all for the buyers - at least you guys are trying to do something about it..
you need numbers to have any chance of success

Over leverage... With this economy... Good luck

ES is not successful. Most F&B are doing fine. Most retail shops are not doing fine.

I hate going to ES to shop.



This post has been edited by Megatron1234: Aug 7 2016, 09:53 AM

When some cowboys colluded with the contractors and arkitek to built one extra floor which these cowboys called it Mezzanine floor, leaving Bandaraya with no choice but to fine them only, I knew these cowboys are without integrity and very dishonest.

I cannot understand why would anyone want to deal with dishonest no integrity biz men. One sand supplier I know still haven't been paid for goods supplied for over 2 years and I believe many are still unpaid for good supplied and work done.

Dun tarnish the good name of cowboys.

They are more like gangsters...

Must be their prudent financial management and superb business acumen.

Just like asking a Malaysian Official #? why a certain Malaysian sovereign fund is in financial difficulty despite so good management and overwatch by a group of superly qualified board of directors

sounds like ANOTHER law suit brewing? Best of luck!

Heard so many lawsuits from ED lah, EC lah.

My popcorn long finished edi but still nothing........

I heard all buyers made at least 200% return on investment and subsale ER is selling hot cakes

agents offer us few units cost price for first 2 phase.....we counter offer half price.....cos the risk of house faling down is very realistically possible

This post has been edited by Donald Trump: Aug 8 2016, 11:19 AM

Was your sand supplier friend offered contra units? If offered and taken, his profit from contra units could be more than sand contract.