It is at least 15,000+ new units, NOT 6000 units will build in this small area, welcome to the new high density record.
Still got several project not launch yet by these crazy government link developer.
Let's say 5 projects x 3000 units each = 15,000 units

Can you imagine 30 block of 40+ stories apartment block the whole area/view ?
You are surrounded by a great wall without any sunshine.
No car park, traffic jam, rubbish and noise pollution will be a nightmare when all project completed.

Good luck to all the buyers.




This post has been edited by sai2: Jul 13 2016, 04:13 PM

Tadmax Resources Bhd that own the developer Wawasan Metro Bina Sdn Bhd was link to the 1MDB scandal and Port Klang Free Zone (PKFZ) scandal.

https://www.malaysiakini.com/news/302184

Will there be a double bailout of 1MDB and Tadmax?


MP SPEAKS Deputy Finance Minister Chua Tee Yong confirmed in Parliament on Monday evening that “the government has given a ‘letter of support’ to Exim Bank for a loan by 1MDB”. He however, refused to disclosed the detailed terms of the loan citing banking secrecy.

The above US$150 million (RM560 million) loan was believed to have been granted in March this year, and was used to pay for a piece of 310-acre land from Tadmax Resources Bhd (Tadmax) located in Pulau Indah which was purchased on Feb 20, 2014.

Tadmax was formerly known as Wijaya Baru Global Bhd prior to November 2013. The group was infamous for their complicity in the RM12.5 billion Port Klang Free Zone (PKFZ) scandal which has caused massive losses for the Malaysian government.

Kuala Dimensi Sdn Bhd (KDSB), which was appointed the turnkey developer by Port Klang Authority (PKA) for PKFZ, is a subsidiary of Wijaya Baru Global Bhd (Tadmax). KDSB also sold the controversial 753-acre piece of land in Pulau Indah to PKA at the astronomical price of RM1.09 billion in 2004.

Tadmax’s single largest shareholder then was Tiong King Sing, who was also the chief executive officer of KDSB. He has however sold his 30.15 percent equity in Tadmax in 2011, and holds only a 5.53 percent interest in the company today. The directors of Tadmax include its chairperson, Abdul Azim Zabidi, the former treasurer for Umno, and its chief executive officer, Faizal Abdullah who is the deputy chairperson of Kapar Umno division.

The above loan by Exim Bank is an abuse of power because Exim Bank is not mandated to provide loan for domestic property purchases. This was admitted by the deputy finance minister himself, despite providing a vague exception to companies involved in strategic investment for Malaysia.

“Kesemua pinjaman yang diberi oleh EXIM Bank kepada pelanggan-pelanggan EXIM Bank memenuhi mandat EXIM Bank untuk menyokong syarikat-syarikat Malaysia yang terlibat dalam pasaran atau pelaburan di luar negara tidak terkecuali sokongan pinjaman import kepada syarikat-syarikat Malaysia yang terlibat dalam pelaburan strategik kepada ekonomi negara.”

What is so strategic’ about 1MDB’s land purchase in Pulau Indah, especially in the light that 1MDB is winding down and disposing of much, if not all of its key assets?

In addition, why did the government provide a letter of support for a US$150 million loan which was more than double the RM262 million outstanding amount payable to Tadmax for the property purchase? Isn’t this an abuse which is not only to provide 1MDB with desperately needed cashflow, but will in the end only increase the company’s debts and liabilities?

Despite the on-going ‘rationalisation exercise’, Chua insisted that 1MDB had to still pay for the land because the sales and purchase agreement was signed before the company’s strategic review in February this year.

Immense strain on company’s cashflow
It is not difficult for 1MDB to terminate the above transaction and cut losses on its investments which are creating an immense strain on the company’s cashflow. This is especially since the land was only valued at RM9.93 per square feet (psf) by Tadmax itself in August 2011 but was sold to 1MDB for a massive profit at RM21.80psf.

However, the acquisition proceeded with the explicit support of the finance minister because it represents a double-bailout of not only 1MDB, but also Tadmax.

Tadmax CEO Faizal had previously admitted that the sale will ease the debt burden for the company which has only RM124,000 in cash reserves against borrowings of RM220.5 million as at September 2013. Tadmax is bleeding financially with a net loss of RM8.52 million on revenue of only RM3.55 million over the same period.

Hence, despite the immense scrutiny on 1MDB today and the financial crisis it is facing, Najib Abdul Razak has moved to issue the controversial second ‘letter of support’ for 1MDB to rescue 1MDB with additional cashflow funds as well as Tadmax to pay off its debts.

Double bailout of 1MDB and Tadmax an abuse of power

http://www.freemalaysiatoday.com/category/...abuse-of-power/

MP Tony Pua takes PM to task for letter of support which allowed 1MDB to borrow US$150 million from EXIM Bank to purchase land from Tadamax.


Opposition MP Tony Pua today chided Prime Minister Najib Razak for issuing a controversial second ‘letter of support’ for 1Malaysia Development Berhad (1MDB) despite the company being under immense scrutiny and facing financial meltdown.
He added that the Deputy Finance Minister Chua Tee Yong’s confirmation to Parliament on Monday that a previously undisclosed US$150 million ‘letter of support’ had been given in favour of 1MDB proves beyond doubt that the Cabinet had abused its powers to carry out a double bailout of 1MDB and Tadmax Resources Bhd.
According to Pua, EXIM Bank had in March this year granted 1MDB a US$150 million loan to enable 1MDB to purchase a 310-acre plot of land in Pulau Indah from Tadmax Resources Berhad. Tadmax ,Pua said, was linked to Kuala Dimensi Sdn Bhd, the company embroiled in the Port Klang Free Zone scandal which had previously caused massive losses to the government.
Pua alleged that the loan by EXIM Bank constituted an abuse of power because the bank was not mandated to provide loans for domestic property purchases.
The PJ Utara MP claimed that even if EXIM Bank was permitted to grant loans to companies for ‘strategic’ investments as claimed by the Deputy Minister, 1MDB would still not qualify.
“What is so ‘strategic’ about 1MDB’s land purchase in Pulau Indah, especially in the light that 1MDB is winding down and disposing of much, if not all, of its key assets,” Pua asked.
“In addition, why did the Government provide a letter of support for a US$150 million loan which was more than double the RM262 million outstanding amount payable to Tadmax for the property purchase,” he queried.
“Isn’t this an abuse,” he asked adding that in the end the loan would only serve to increase 1MDB’s debts and liabilities.
Pua also questioned why the government had allowed the transaction to go through despite the on-going 1MDB ‘rationalisation exercise,’ pointing out that it would not have been difficult to terminate the transaction and cut its losses on investments.
Instead, he suggested that the acquisition proceeded with the explicit support of the Minister of Finance because it represented a double bail-out of 1MDB and also Tadmax.
“Tadmax CEO Faizal (Abdullah) had previously admitted that the sale will ease the debt burden for the company which has only RM124,000 in cash reserves against borrowings of RM220.5 million as at September 2013,” Pua noted.
“Tadmax is bleeding financially with a net loss of RM8.52 million on revenue of only RM3.55 million over the same period,” the DAP lawmaker added.
Former Kuala Dimensi CEO Tiong King Sing presently holds a 5.53% interest in Tadmax, according to Pua. Its directors include former UMNO treasurer Abdul Azim Zabidi, and Faizal Abdullah who is the Deputy Chairman of UMNO Kapar Division.




This post has been edited by sai2: Jul 13 2016, 04:40 PM

Must be very exciting to drive up and down so many floor of parking everyday.

Interested buyer, PM me if launch, thanks.

What kind of story ?

Fortune Centra also stop working .... so quite now

This post has been edited by sai2: Apr 17 2019, 11:31 AM

How soon ?
Within 3 months or year end ?

Latest photo of mizumi and kepongmas.
Mizumi is busy working now, but fortune centra confirm stop.

Regarding the new affordable housing beside mizumi.
If you look at the photo, it is almost impossible to add 1500 more unit into this place, even the hong kong developer will salute them.
I wonder it is a L shape or straight line, but it is confirm sandwich between 3 buildings : mizumi, kepongmas and fortune perdana.


It is NOT a pretty picture




This post has been edited by sai2: Apr 18 2019, 08:19 PM

I only worry this one ....

This post has been edited by sai2: May 12 2019, 10:47 PM

Everybody will be happy if this 1500 new unit not going to launch, otherwise many resident will be very angry because it is too crowded, too jam and their view will be block.
Investor will be in shock when their house rental only worth RM1000

Where is the brochure, so fast ?

This post has been edited by sai2: Apr 19 2019, 11:20 AM

Can you post the brochure here ?

830 sqft got Balcony or not ?

Thanks for the map.
If no this 3 block, it will be so good for all owners.

Traffic jam will start before the main entrance.

This post has been edited by sai2: Apr 21 2019, 10:29 PM

floor plan ?

Yes, fortune centra stop since last month.

From map maybe looks good, my view on the spot is terrible, the land is just too small for 2 huge project.
Almost every angle of mizumi rumawip is block and very close to their 3 neighbor.

This post has been edited by sai2: May 3 2019, 11:02 AM

deleted ...

This post has been edited by sai2: May 7 2019, 10:21 PM