Yeah. There will be a white knight, just top up 10% in future. Try MP in Seputeh, most likely Teresa Kouk again. She stays in Kuchai Lama. She sees that everyday.

The number of victims in the group is very little for the time being tbh…non joiners could be reluctant to admit, sitting on the fence n not joining the group for collective action…with false hope that someone will take action for the benefit of all…and the problem will magically disappear when wake up next morning, some other projs owners waited until pass away

Yes there is hopefully all victims are wake up n decide that there’s something need to be done, to join the group n contribute at least something instead of silent pain every month

Our experience tells us that most investors had encountered such a scenario before. In the end, they just moved on as company closed akin to debtors died, pointless to waste time further.

Most of the time $$$ will solved all the issues but then most will expect others to pay OR unable OR unwilling to pay, so end of the day, nothing gets resolved. If you chk on those projects that get resuscitated, the common denominator is, everyone paid ☺️

Unless it's PPR, no bailout by tax payers can be expected 🤞

3 words - stop buying crap. Affordable housing relies on it being subsidised by full priced buyers so if one fails it all does.

the abandoned of project is downplayed heavily…buyers should sign a contract to accept all the risk associated with buying undercon proj such as abandonment before purchasing…same like buying cigarettes where the purchaser hereby accepts the risks and consequences of buying them…

Better than now where the victims are expecting bailout from gov in case of shit blown to the roof…

Now all the stakeholders are gone pitch silence; SAs and banks none have come forward to clear the air and the victims are being treated as dumb people to go kpkt portal check abandon status every day…

Property is a big ticket purchase and some put life savings in it…this will definitely become a story and scar at least few generations.

Do u think the victims dare to buy undercon proj from unknown developers again? NEVER… even with HDA never in the victims life that they would buy again

Even if all those who got suckered stop buying, aren't going to change anything ....... remember, another sucker is born every minute 🤷

And worst and more sorry situations has existed in society than abandoned projects that failed to create sympathies 😓

So the faster you understand the reality of the situation, the faster you get things resolved. And whining here just keeps a few drama queens entertained 😑

Look at Skywheel 101, those that bought in losing way way more but don't see them bitching here, so take a hint 😉

This post has been edited by tgeoklin: Nov 2 2022, 06:17 AM

Drama queen checking in. So people can complain about some over priced fish curry in Langkawi and all the authorities come down on these small business owners but when it comes to a purchase more than a few thousand times the quantum then it’s all silent? Where is the protection for the most essential of goods - a home.

There’s many who are not aware of this forums or are of the generation to even use it. Doesn’t mean there’s no victims out there. It could be an elderly relative who doesn’t communicate much in English.

This post has been edited by Cavatzu: Nov 1 2022, 07:44 PM

Just go post FB if you want audience .......... here Ks are all high earner, I believe min RM20k per mth, so minor issues not gonna get them interested 😅

Nonsense the top 1% of earners in Malaysia congregating in this forum for which rumahwips to buy?

Then I’d also say these successful people have no empathy for the unfortunate and that’s not good. Speak up for good causes. I’m sure 8 Conlay buyers will be whinging to their groups.

What, you mean Ks not high earners??? 😱😱😱 ......

As for 8 Conlay, good luck to them. But their Group is the right approach ....... 😅👍 .........

What is outrageous is that this was pulled off in daylight in the middle of the prime area, in fact very noticeable by mex and sg besi highway

Insurance is pitched to manage your risk, but the absence of abandonment insurance speaks alot about it, in other words no one cares, all everybody cares is you signing the spa and loan agreement , mrta/mrtt only..what happen afterwards on the proj is none of their damn biz

Even no one gives a damn about the disbursement level until smthg bad happens…then tai chi around, in the end the victims have to foot the bill

We believe Ks are kind hearted with good cause…so with all the might of lowyat forum users plz do spread this cautionary tale and plz let them know of this forum if they want to join the victims group

God will reward and bless you all over your good deeds

I mean.. calling Kuchai a 'prime' area is a bit of a stretch..

For abandonment insurance, you would need participants who are willing to pay the premium. I highly doubt there's a demand for it since the sum assured would run in the hundreds of thousands with premium probably tens of thousands?

For each disbursement level would require sign off and checks. Buyers have a right to raise an issue if these checks are not done and disbursement unfairly given no?

Basically what I'm saying is this. Always do your background checks on the developer. Play safe and you'll stay safe. SA's are always there to sell, not tell the full picture. They can be held accountable if the lied but the onus is on YOU to check and do research since YOU are signing on the dotted line.

What are you trying to achieve? Collective voice/numbers/action to make your case?

Is this proj your only or 1st spread?
Proj abandonment is not new in malaysia dev landscape. Did you see its eventualities, know your exit strategy, how long it gonna take, what takes place in the event of proj abandonment before signing the dots?

This post has been edited by jojolicia: Nov 2 2022, 10:33 AM

We are trying to find more poor souls out there…as of now victims in the group are relying on daily positive ‘good morning’ pictures and videos to get thru every day

Hearsay most of the victims are actually comprised of property agents, that explained contribute the lack of collective action for the past 5 years

Ok now i see.
In bold. If your hearsay is correct, its madeup gorengersss, highly likely they are not binding purchasers.

Which end are you? Single/ multi, own-stay/invest unit purchaser?

This post has been edited by jojolicia: Nov 2 2022, 12:13 PM

Maybe there is a way out to cut your losses. Form a group to pressure Bank Negara to require the end financiers to allow you to pay off your principal (if you are still just servicing your loan interest). At the very least after a some years you will be cleared off your loan, then you can sit more comfortably waiting for a white knight to rescue.

Yeah this is the only way to staunch. But its also sound like throw money to the sea. Most of the time, white knight come is feature not paying the LAD, and sometime due to cost, white knight will request top up 100K - 200K to secure a unit. better than nothings. But what happen if the purchaser unable to top up the money required from white knight?

what do you mean not binding purchasers ya?
means they got a way to book, reserved but not sign SnP?

and they can sell out to other buyer later w a profit?