04/02/2002 The Star
About 1,500 buyers of the stalled Taman Terubong Indah (Majestic
Heights) Phase 1 project have to fork out between RM6,000 and RM9,966 to
complete the project.
Deloitte Kassim Chan corporate restructuring and recovery services
executive director Chu Siew Koon said the liquidators had estimated the
project’s completion to cost over RM15.5mil.
“This amount includes paying for over RM2mil worth of optional items
such as changing the units’ door locks, re-polishing marble floors,
installing metal roofing and resurfacing the car park.
“However, these items are not a requirement in obtaining the project’s
Occupancy Certificate. So, if the buyers don’t want them, they can pay
less than RM9,966 each,’’ he told over 300 buyers who attended the
Majestic Heights Buyers (Phase 1) Forum at the Caring Society Complex
yesterday.
Chu also said the buyers’ ad-hoc committee could push the state
authorities including Penang Municipal Council and Indah Water Konsortium
to waive contributions worth RM3.62mil.
“If the authorities agree to this and the buyers do not want the
optional items, then they need only pay about RM6,000 each,” he said.
He said once all the buyers reach a consensus, the liquidators would
call for a tender immediately, adding that 20 contractors had expressed
interest to revive the project.
“Our documents for the tender are ready. If we can get a decision soon,
work can start after Chinese New Year and be completed between nine months
and a year,” he added.
Ad-hoc committee chairman Lim Beng Hong said: “Our fervent hope is to
celebrate next year’s Chinese New Year in our apartments.”
Also present were Bayan Baru MP Wong Kam Hoong, Paya Terubong
assemblyman Dr Loh Hock Hun and ad-hoc committee adviser S.L. Chang.
Later, a buyer Mak Kar Weng said the state government should bear some
responsibility for the stalled project.
“It is unfair to ask us to pay for what was cheated out of us. Thus,
the state should bear the RM15.5mil cost and not the buyers,” he said. The
other buyers at the hall applauded in response to this.
Launched in 1995, the Majestic Heights project, consisting of 2,955
housing units (grouped under Phases 1, 2A, 2B and 3A), 55 shoplots and 22
light industrial units, is the country's largest single abandoned housing
project.
On Oct 16, the High Court handed down an order for the developer to be
wound up. The winding-up judgment followed 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.
