18/08/2000 The Star
A Kuala Lumpur-based company, which plans to take over the Taman
Terubong Indah (Majestic Heights) project in Paya Terubong, is in a quandary
following the decision of 235 buyers of phase one to revive the project
themselves.
Perfectbuild Construction (Malaysia) Sdn Bhd manager Y. K. Yap said
yesterday he would consult the company's lawyers on the next course of
action.
"We cannot go ahead with our plans to build about 7,000 low-medium cost
units as the state government had said it will only give approval if we
agreed to take over the stalled two phases,'' he said.
On Sunday, 235 of the 320 buyers who attended a meeting organised by the
purchasers' ad-hoc committee in Dewan Tunku voted to revive the project
themselves.
The buyers were given the right to choose from three options--to let the
developer Majestic Heights Sdn Bhd finish the 80% completed units at its own
pace, wait for the Housing and Local Government Ministry to intervene or
revive the project themselves.
While the majority chose the third option, 50 went for the first option
and 35 for the second.
Yap said the company had discussed its plans with the state government,
Majestic Heights and the project's financier.
"The bank is willing to transfer the land which had been charged to
them,'' he said.
Yap said the company was planning a "substantial'' investment, but had
yet to work out the number of blocks to be constructed.
He said Majestic Heights had only started work on two phases, while work
on the other two had yet to begin.
It had been reported that Majestic Heights should have completed phase
one (involving 1,557 units) and phase two (A) (342 units) in 1997.
