please read all your purchase contracts carefully
Investment J. SATINE RESIDENCES / RUMAWIP @ SETAPAK, High dense project near Giant Setapak
Investment J. SATINE RESIDENCES / RUMAWIP @ SETAPAK, High dense project near Giant Setapak
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Nov 14 2024, 09:39 AM
Show posts by this member only | IPv6 | Post
#241
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All Stars
10,322 posts Joined: Dec 2009 From: Malaysia |
please read all your purchase contracts carefully butthead76 liked this post
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Nov 14 2024, 12:30 PM
Show posts by this member only | IPv6 | Post
#242
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All Stars
21,459 posts Joined: Jul 2012 |
QUOTE(thenazek @ Nov 14 2024, 09:29 AM) What do you mean by alternatives? White knight will only appear if there is money could be made. Dismantling and rebuilding will cost more than new building. If loan drawdown is substantial, there is little left in the pot for the white knight.Stuck with an abandoned project is the worst thing to happen to a purchaser. You cant sell an incomplete project. You obviously cant live in it. You cant even fork out your own money to make it habitable. And the worst, you still have to serve your loan and there's no way out of it. You can only hope for a white knight to come and save it. Feel very sad and sorry for them. This post has been edited by icemanfx: Nov 14 2024, 12:31 PM butthead76 liked this post
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Nov 14 2024, 01:03 PM
Show posts by this member only | IPv6 | Post
#243
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Senior Member
1,603 posts Joined: Sep 2021 |
My prediction, PV should have the strength to complete the project. Being low profile doesn't mean they have no such capabilities.
Worse come to worse, they just need to dispose the landbanks in their possession to raise fund for the operation / project just like how the southern region developers did recently. This post has been edited by nihility: Nov 14 2024, 01:03 PM |
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Nov 14 2024, 01:09 PM
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Senior Member
1,159 posts Joined: Jan 2022 |
QUOTE(nihility @ Nov 14 2024, 01:03 PM) My prediction, PV should have the strength to complete the project. Being low profile doesn't mean they have no such capabilities. That is like asking them to give up the future on the company to throw at a loss making project just to save the buyers. If only developers in this country had such good hearts.Worse come to worse, they just need to dispose the landbanks in their possession to raise fund for the operation / project just like how the southern region developers did recently. |
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Nov 14 2024, 01:23 PM
Show posts by this member only | IPv6 | Post
#245
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Senior Member
1,603 posts Joined: Sep 2021 |
QUOTE(PAChamp @ Nov 14 2024, 01:09 PM) That is like asking them to give up the future on the company to throw at a loss making project just to save the buyers. If only developers in this country had such good hearts. My prediction....it will survive. Why you view all the developers with bad intentions? PV still have so many strategic landbanks within KV in their possession. If they really abandoned this project, how they need to survive in the same field in future? Jakel, behind them are backed by "kucheng". Hence, my prediction, they will not let this become abandoned project. This post has been edited by nihility: Nov 14 2024, 01:30 PM |
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Nov 14 2024, 02:49 PM
Show posts by this member only | IPv6 | Post
#246
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All Stars
48,589 posts Joined: Sep 2014 From: REality |
They would just do some minor adjustments , like small demolition of certain part... And move on as usual...
Those think whole thing demolition.... No way... |
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Nov 14 2024, 04:16 PM
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Senior Member
5,741 posts Joined: Apr 2019 |
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Nov 14 2024, 04:56 PM
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All Stars
23,851 posts Joined: Dec 2006 |
High Court Judge said developers would no longer be able to rely on such provisions in the contract to avoid having to pay liquidated ascertained damages for late delivery of properties to purchasers, even if the sales and purchase agreement (SPA) provides for such a move.
SPA is not final . This post has been edited by SKY 1809: Nov 14 2024, 05:22 PM |
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Nov 14 2024, 11:54 PM
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Probation
8 posts Joined: Aug 2020 |
QUOTE(nihility @ Nov 14 2024, 01:23 PM) My prediction....it will survive. Agree on this, imagine getting on a big roadblock and able to overcome it, wont it be like a major change in their reputation? getting bigger contracts and stuff, more money coming in...Why you view all the developers with bad intentions? PV still have so many strategic landbanks within KV in their possession. If they really abandoned this project, how they need to survive in the same field in future? Jakel, behind them are backed by "kucheng". Hence, my prediction, they will not let this become abandoned project. |
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Nov 15 2024, 04:15 AM
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All Stars
21,459 posts Joined: Jul 2012 |
QUOTE(nihility @ Nov 14 2024, 01:23 PM) My prediction....it will survive. Developer could change name or rebrand. Most people will not remember this incident. For reasons why most developers use subsidiary company to sign contract.Why you view all the developers with bad intentions? PV still have so many strategic landbanks within KV in their possession. If they really abandoned this project, how they need to survive in the same field in future? Jakel, behind them are backed by "kucheng". Hence, my prediction, they will not let this become abandoned project. QUOTE(nexona88 @ Nov 14 2024, 02:49 PM) They would just do some minor adjustments , like small demolition of certain part... And move on as usual... How to demolish partial of a high rise building? Columns and beams don't need to connect? Where have you seen it done?Those think whole thing demolition.... No way... This post has been edited by icemanfx: Nov 15 2024, 04:16 AM |
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Nov 15 2024, 04:55 AM
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Senior Member
5,741 posts Joined: Apr 2019 |
QUOTE(SKY 1809 @ Nov 14 2024, 04:56 PM) High Court Judge said developers would no longer be able to rely on such provisions in the contract to avoid having to pay liquidated ascertained damages for late delivery of properties to purchasers, even if the sales and purchase agreement (SPA) provides for such a move. interesting how some contracts can be over-ruled. wonder what is the reasoning for this.SPA is not final . |
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Nov 15 2024, 11:53 AM
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All Stars
23,851 posts Joined: Dec 2006 |
QUOTE(gashout @ Nov 15 2024, 04:55 AM) I guess onlyTort Law Torts can shift the burden of loss from the injured party to the party who is at fault or better suited to bear the burden of the loss. Typically, a party seeking redress through tort law will ask for damages in the form of monetary This post has been edited by SKY 1809: Nov 15 2024, 06:45 PM |
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Nov 15 2024, 02:09 PM
Show posts by this member only | IPv6 | Post
#253
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Senior Member
1,603 posts Joined: Sep 2021 |
QUOTE(icemanfx @ Nov 15 2024, 04:15 AM) Developer could change name or rebrand. Most people will not remember this incident. For reasons why most developers use subsidiary company to sign contract. I'll not eliminate the possibility you mentioned, it is possible. Yet, I still believe my deduction that they will rectify it at any cost.How to demolish partial of a high rise building? Columns and beams don't need to connect? Where have you seen it done? This post has been edited by nihility: Nov 15 2024, 03:31 PM |
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Nov 15 2024, 03:24 PM
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Senior Member
5,644 posts Joined: Apr 2011 From: Kuala Lumpur |
QUOTE(nihility @ Nov 15 2024, 02:09 PM) I'll not eliminate the possibility you mentioned, it is possible. Yet, I still believe my deduction that they will rectify it at all any cost. Not so sure at the "any cost" part. Everything has a limit, now it depends on their tolerance level to absorb the losses. |
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Nov 16 2024, 12:13 AM
Show posts by this member only | IPv6 | Post
#255
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All Stars
12,414 posts Joined: Jan 2008 From: KL - Cardiff - Subang - Sydney |
even if can fix.... owners / potential tenants still dare to stay?
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Nov 16 2024, 12:15 AM
Show posts by this member only | IPv6 | Post
#256
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Junior Member
436 posts Joined: Dec 2021 |
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Nov 16 2024, 09:27 AM
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All Stars
23,851 posts Joined: Dec 2006 |
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Nov 16 2024, 09:35 AM
Show posts by this member only | IPv6 | Post
#258
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Senior Member
3,217 posts Joined: Dec 2006 From: City of Neko~~Nyaa~ |
Demo whole tower 3 to save other 2 tower ?
Refund tower 3 buyer... Possible? But other tower will have same defect or not? |
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Nov 16 2024, 09:51 AM
Show posts by this member only | IPv6 | Post
#259
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Senior Member
1,009 posts Joined: Mar 2019 |
Just put there..
Balance land, sell to another company Emerge as a new developer, and continue do project.. Too big hole to rescue |
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Nov 16 2024, 02:49 PM
Show posts by this member only | IPv6 | Post
#260
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Junior Member
600 posts Joined: May 2005 From: Sabah |
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