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The problematic Taman Terubong Indah (Majestic Heights) project is expected to be revived in June next year if all its 3,000-odd buyers agree to fork out extra money, said a representative of the liquidators appointed by the High Court.

Deloitte Kassim Chan corporate restructuring and recovery services executive director Chu Siew Koon said the firm’s liquidators, Mak Kum Choon and Ng Meng Kwai need three months to gather information on the various parties concerned, including the project’s deve- loper and buyers.

Another three months would be needed to calculate the balance left after the liquidation of developer Majestic Heights Sdn Bhd and how much more is needed to revive the project, he added.

“For the project to resume, it must be deemed viable. Thus, if the buyers give their 100% support by agreeing to pay the additional money, we will give a 100% guarantee to deliver their houses.

“Our firm will then appoint a financially sound contractor who can promise to finish the project,” he told over 2,000 buyers who attended the Majestic Heights Buyers Forum at the Geodesic Dome here yesterday.

To assist the firm in gathering information, all buyers were required to fill a form and enclose copies of official receipts for their units’ progress billings, he said.

He said the forms could also be obtained from the various committees representing buyers of the project’s four phases.

Advisor for ad-hoc committee for Taman Terubong Indah Phase I Purchasers, S.L. Chang, said Public Bank had on Saturday come forward to offer additional financing to all buyers, adding that this was a “good sign.”

Also present were Bayan Baru MP Wong Kam Hoong, Paya Terubong assemblyman Dr Loh Hock Hun and Padang Kota assemblyman Teng Chang Yeow.

Earlier, a buyer, O.T. Goh said: “Just as the five fingers on my hand are not equal in length, it is impossible for all the buyers to agree to pay the extra money. Although we finally see a dim light at the end of the tunnel, many obstacles are still blocking the way.

“I would like to suggest that the project be resumed even with 80% cooperation from the buyers. The banks should then mortgage the units of those who refuse to pay.”

This proposal was supported by applause from many buyers at the forum.

Launched in 1995, the Majestic Heights project, consisting 2,955 housing units, 55 shoplots and 22 light industrial units, is the country’s largest single abandoned housing project.

The project hit a snag when the developer faced financial and management problems in 1998.

On Oct 16, the High Court handed down an order for the developer to be wound up. The winding-up judgment follows the unprecedented exercise of Section 11(1)(d) of the Housing Developers’ (Control and Licensing) Act 1966 by the Housing and Local Government Ministry, which directed the company to voluntarily wind up or risk prosecution under Section 19 of the Act.