18/03/2002 The Star
If things go smoothly, the 3,000-odd purchasers of the stalled Taman
Terubong Indah (Majestic Heights) project might not have to pay more than
RM6,000 each for the project revival.
State Trade, Commerce and Consumer Affairs Committee chairman Dr Loh
Hock Hun said he would write to Tenaga Nasional Berhad (TNB) and Indah
Water Konsortium (IWK) to waive RM456,900 and RM1.18mil in contribution
charges respectively.
“Initially, the purchasers were required to fork out RM9,966 each to
revive the project. But with the Penang Municipal Council, the Penang
Water Supply Corporation and two other government bodies waiving RM1.5mil
in contribution charges, housebuyers will now pay about RM8,000 each,” he
told newsmen after handing over a cheque of RM1,000 to Arulmigu Parakkalla
Sri Muniswarar temple at Lebuhraya Thean Teik yesterday .
Also present was Farlim Group (M) Bhd deputy general manager Lim Hock
Eng.
Dr Loh, who is also Paya Terubong assemblyman, said that if TNB and IWK
agree to waive the contribution charges, purchasers would be able to save
another RM1,000. He added that the ad-hoc committee would also negotiate
with the appointed contractor to lower their fees, thus bringing down the
cost to less than RM6,000 for each buyer.
Dr Loh also said that he had asked the ad-hoc committee to quickly
appoint the contractor to revive the project soonest.
Launched in 1995, the Majestic Heights project, consisting of 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, 2001, the High Court handed down an order for the developer
to be wound up.
The winding-up order 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.
