Mystery explosion opposite Bukit OUG condo, cops seen at scene

The 4am explosion happened at commercial complex across the road from the Bukit OUG condominium here.



This post has been edited by SKY 1809: Nov 12 2024, 12:36 PM

what the worse cases for this building? demolish?

if demolish, was not the base attached together with parking, facilities floor area, pool.. and the same , this building attached with another side block?

demolish all project?

not another building collapsing.

This post has been edited by icemanfx: Nov 12 2024, 12:59 PM

We do not want government to PAY hundreds of millions to "save" a problematic or an abandoned project;

Does not equate to we do not want government to push developer to rectify the issue thoroughly and in a timely manner.

Your response seems to be wanting the government to jump in whenever first sign of trouble comes up. Developer got say don't want to rectify issue now? Got say abandon building today? Jumping it just because, that is financially and perceivably irresponsible.

Massive unwarranted speculation wise, your scope of generalization is uncalled for as well.

But I will agree to your point whereby for the buyers, at this time being, won't be getting their keys anytime soon.

Can’t step in for this project. But close this loophole, change law to send the ultimate beneficiary owner’s board of director, CEO and chairman to jail.

No more subsidiary limited liability bs. But, Madani don’t care. lol. UMNO still part of ruling government. Everything also surface level to win votes. Actual structural changes mana ada.

Limited liability companies is a fundamental of capitalism, couldn't be changed. however, gomen could insist developer to build first than sell.

Confirm demolition...

But ain't going to happen guaranteed....

They might just do some demolition on the part that have problem & just do patching up work at the top part...

US can pass Law to allow robbers to rob below 1K US, and not guilty .

A fundamental of capitalism too.

RM 2 capital limited co were those days set up , but stopped by Govt ...



This post has been edited by SKY 1809: Nov 12 2024, 04:29 PM

That is on entity structure. Government can just pass law to say you want to be a prop developer, want to get approval, UBO & directors + CEO must sign to be liable, else no approval granted. Simple solution.

BFTS have its own set of challenges. We just need to keep developers on the straight and narrow. Now it is just a cowboy town.

Can ..no problem

Malaysians need to push for better laws to protect buyers

A lot of laws passed maybe 10 years ago to get our banks stronger...more regulated to protect consumers

This post has been edited by SKY 1809: Nov 12 2024, 02:47 PM

Hello boss.. don't joke pls. In Malaysia the rakyat is the one left holding the bag. Banks only protect..banks.. look at the loan agreement you sign and read line by line, tell me who does it protect? And the best part, you paid the legal fees to draft the agreement that protects.. the bank..not protect you.

True , your side of story .



This post has been edited by SKY 1809: Nov 12 2024, 03:14 PM

Usually, when projects get abandoned, BTS will always be raised. There are BTS projects around. Bukit Utama 9 by See Hoy Chan. Then you look at the price and you will know why SHC does BTS. They sell at future prices. BTS projects will always be more expensive than STB because Developer and Banks takes all the risk while buyer take little risk (based on 10/90 method) or none at all. Risk always comes at a premium.

Now majority of risk is borne by buyer under STB. It sucks but what to do. Worse still, this is affordable home project. There is little or no profit for developer. They will be extremely unmotivated to fix the issue if they have to take what looks like massive losses. However if they were a big GLC, they will still do it and take the loss. But for private Developer, fat chance unless they have massive land bank and need govt approvals for future projects.

Government won't step in to save the day. Like many said, need a white knight. But white knight will only come in if there is some profit to be made. if this project almost fully sold and no more profit available to make, like the young folks said, its GG for the buyers.

My utmost sympathies.

In STB, buyer is paying progressive loan interest. In BTS, progressive loan interest is included in the selling price by the developer. There is no lost to buyer.

Why won't developer price according to market demand instead of cost? No developer will just charge you progressive interest as the only difference between BTS and STB. If the developer is financially strong enough to BTS, the developer will charge the maximum it can.

Remember the LOD that we got it from the pinnacle incident?
You would be the first to receive a LOD if any were to be given out here.

This post has been edited by W.ROOK: Nov 12 2024, 11:10 PM

In STB, developer has 3 years to sell. In BTS, it is in developer to sell ASAP, likely to price at prevailing market price.

Punter preferred to bet on lad payment Vs abandoned project.

The dream of having BTS is not likely to happen for most developers for many reasons, deemed not practical from accounting , cashflow point etc

No one is for sure economy would be good in 4 years time. Supply is always much greater than demand when time is bad.... Risk is very high.

Whole ind may collapse with holding large stocks and with bad loans owing to banks. Then again, another banking failure. Property melt down can happen .

Sounds good but not practical.

This post has been edited by SKY 1809: Nov 12 2024, 05:14 PM

then the developers will probably close shop it they have to bear all the cost/risk during the construction and after completion, still under pressure to clear their stocks as there is not much premium to be earned.

BTS does not make sense at current juncture, it will just make everything more expensive

In BTS, completion risks, market risks, credit risks, etc is on developer. developer is natural to against bts. only financially strong developer could sustain bts.

why should buyers bare completion and market risks for developer?