Parking parking

People without financial background.....

Mati teruk no matter how high is their salary

Found another investor or loan compress specialist in the lelong market today.
All his units are possible bumi lot. Unfortunate for him as the price will drop extra few rounds in the lelong market before got any qualify taker.

ION Delemen unit 1 (kuwait finance) 2015: http://www.ehsanauctioneers.com/property_p...20KFH0009-1.pdf
ION Delemen unit 2 (kuwait finance) 2015: http://www.ehsanauctioneers.com/property_p...20KFH0009-2.pdf
KL Traders Square (hong leong bank) 2015: https://www.ngchanmau.com/pos/8730/pos_en?v=1552235224
Sentul Village (hong leong bank) 2015: https://leongauctioneer.com/property-for-au...on/Details/3223

Maybe he got even more units elsewhere with other banks (yet to release into lelong market).

This post has been edited by AskarPerang: Mar 11 2019, 12:30 AM

emm the project he buy very bad la.

ION Delemen -> GRR scheme project, it common trick for the developer to transfer the risk to buyer, and earn maintenance fees from buyer from leased out the house.
KL Traders square - too high density, no hope for capital appreciation nor rental play.

Fuhh.. this Musaluddin total loan for these property i think rm 2-3 million. Must be kopitiam 20k standard salary.

money so easy earn meh

or umno small fly now water source kena cutx3 already...….

Not sure of his political affiliations but this is one of the casualties of crude oil falling.

He was the owner of this company called Black Gold Ventures, had several projects that did not take off, also had the contract for a waste to energy incinerator project.

Doubt he was into loan compression but not surprised he bought properties like there was no tomorrow.

U know him?

Not personally no but knew of his company or should I say companies.

Many of these venture are only financially feasible when oil price is at stratosphere level and many of these were vehicle to scam gomen funding.

Got a lelong unit sold today from Rivercity.
Attracted 11 bidders.
Occupied unit.




Let's guess the winning price:






Higher than last month reserve price. Also higher than 2 months ago reserve price.
Buyer market is back!

very sad story. no body can help even family friends n hubby

Why say????

You are accounted for your own action. Greed has no limit.......

Banks should also be accounted for partner in crime.

Not an unusual story in the OnG sector.

Same reason why in Australia 3 years ago there were many homes and Harley Davidson motorcycles and the very fancy utes being repoed. Mining boom came to an end in a sudden and many operations shutdown.

During bull run, flippers advocated they were rewarded for risks they took. Similarly, they reap the consequences when the tide turned.

Conventionally, his friends and family are likely similarly committed.

This post has been edited by icemanfx: Mar 13 2019, 11:14 AM

It got almost nothing to do with ong sector. Every sector also have ups and downs.

More important factor is self financial management. You dun go out and buy 5 to 6 properties without any financial planning and saving and contigency planning.

How many ppl jump off 14th floor during the stock crisis???

Ppl never learn and will never learn. Greed has no limit and they just want to cheong big without back up plan.

luckily we have 6 billions population.

Double posted.

This post has been edited by icemanfx: Mar 13 2019, 01:26 PM

Those experienced economic recession are unlikely to over gear. Only novices think they could beat the system.

There is a sucker born every minute. In every bull run be it stocks, btc, gold, property, tulips, etc, there is a new generation of herd participating.

7.7 billion now.