Sign up to revive project, buyers told
29/07/2002 The StarThe remaining 225 purchasers of phase one of Taman Terubong Jaya
(Majestic Heights) project should register themselves with the purchasers’
ad-hoc committee in order for revival efforts of the stalled project to
proceed.
Its executive adviser S.L. Chang said if the group continued to remain
defiant, then efforts to “rescue” the project would be hampered.
“While the project revival efforts have made good progress, their
refusal to cooperate are holding back the other 1,330 purchasers,” he said
in an interview yesterday.
Chang said as the revival efforts were fully borne by the purchasers,
the full cooperation of all involved would be instrumental to ensure its
success. A forum to update purchasers on the revival of the project would
be held this Sunday at 2pm at the Caring Society Complex.
Besides seeking endorsement on the cost of the revival efforts, the
forum would also sought approval for the contractor.
Chief Minister Tan Sri Dr Koh Tsu Koon, Bayan Baru MP Wong Kam Hoong,
Paya Terubong assemblyman Datuk Dr Loh Hock Hun and representatives from
the liquidator firm Deloitte Kassim Chan would be present.
Chang said the liquidator would reveal the amount to be borne by each
purchaser towards the revival process.
Launched in 1995, the Majestic Heights project comprising 2,955 housing
units, 55 shop lots 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 and Deloitte Kassim Chan was appointed the liquidator.
For details on the forum, call Chang (012-4708828)/ Lim (016-4210738) /
C.W. Loke (012-4011303) / P.L. Chang (016-4154511) / K.E. Lee
(016-4459191).
The committee chairman B.H. Lim said purchasers need not worry that
they would have to pay a bomb to revive the project as the revival process
was just around the corner.