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Developer bows to demand to
wind up
25/09/2001 NST By Freddie
Ng
PENANG, Mon. - For more than 3,000 house buyers of Majestic Heights Sdn Bhd's
Taman Terubong Indah, hope springs anew for the abandoned project to be revived
after six years when the developer today conceded to their petition that the
housing development company be wound-up.
The developer's concession follows the landmark action by the Housing Minister
to invoke Section 11(1)(d) of the Housing Developers' (Control and Licensing)
Act 1966 directing Majestic Heights, to voluntarily wind up or risk prosecution
under Section 19 of the Housing Act.
Housing Minister Datuk Seri Ong Ka Ting had in the exercise of his powers
under the Act, written to the company last Friday, directing that it files
its winding-up petition in the High Court within 30 days.
"It is the first time in the 35-year history of the Housing Developers
Act that the Minister has invoked Section 11(1)(d)," said Chang Seng Liang,
adviser to the Ad-Hoc committees for Taman Terubong Indah (Majestic Heights)
Purchasers.
"This shows the sincerity of the Minister and the Government in wanting
to protect house buyers from errant developers," Chang told a Press
conference today.
Also present were the various committee members and their respective chairmen
including Lim Beng Hong (Phase 1), Neoh Hong Lee (Phase 2A), Lean Guan Jin
(Phase 2B) and Eric Ciah Cheng Ging (Phase 3A) and their legal counsel, V.
Rajadevan.
Chang said he hoped the unprecedented invocation of Section 11(1)(d) would
serve as a lesson and a deterrent to errant housing developers throughout
the country.
"With this, the affected buyers of Majestic Heights can now see a light
at the end of the tunnel after being in limbo for so long," he added.
In thanking Ong for taking the bold move, he also expressed the hope that
similar action be taken by the Minister against other errant developers as
there are presently over 600 abandoned housing projects in the country, where
buyers are still in a quandary.
He also offered the committee's guidance to purchasers of other abandoned
projects to help them get their homes.
Chang also called for tighter control of Housing Developers' Accounts,
which according to the HDA should have a balance of 10 per cent for contingencies.
Meanwhile, Lim said once the project is revived, Phases 1 and 2A purchasers
can expect to receive the Certificates of Fitness for their new homes soon.
"We expect Phase 2B and 3A to be completed in about two years, as it may
take about six months to get things sorted out and another 18 months to complete
the project," he added.
The Taman Terubong Indah project consists of a total of 3,032 mixed units
comprising 2,955 housing units, 55 shoplots and 22 light-industry buildings.
Earlier, Majestic Heights Sdn Bhd, through its lawyer T.S. Liew, told the
High Court here this morning that it would accept a petition filed by the
ad-hoc purchasers committee in 1999, to voluntarily wind-up their company.
Judge Md Raus Shariff, however, postponed handing down the winding-up order
of Majestic Heights Sdn Bhd to Oct 16, pending the selection of a firm of
professional liquidators.
Chang, meanwhile, urged all Majestic Heights purchasers who had yet to
register with the committee to do so before Oct 15, by contacting the respective
chairmen of the various phases at the Service Centre of Bayan Baru MP Wong
Kam Hoong at 1236G Wisma Indah, Paya Terubong between 9pm to 10.30pm every
Thursday.
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