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'new' deal, CM urges purchasers
25/11/1999 The Star
The 500-odd Fettes Villa condominium and low-medium cost unit purchasers
are urged to accept the developer's offer to cut 10% off the sales price and
waive the claim on late delivery.
Chief Minister Tan Sri Dr Koh Tsu Koon said work on the project, which had
been stalled for more than one and a half years, could be resumed soon if the
majority of the purchasers agreed to the offer proposed by the developer, Gewaris
Sdn Bhd.
"But they have to sign a supplementary agreement to waive damage claims for
late delivery," he said, adding that no additional fee would be imposed.
Dr Koh said this after a close door meeting with Gewaris chief executive officer
Arthur Toh and representatives from the Fettes Villa low-medium cost action
committee and the condominium units action committee in the presence of two
corporate lawyers.
"The developer has indicated they are now in a position, financially as well
as administratively, to resume the project.
"If the purchasers agree to the offer, the low-medium cost units can be ready
in 24 months and the condo units, in 30 months," he said.
The 368 low-medium cost units, which cost about RM50,000, were sold out while
more than 40% of the 459 condominium units, costing over RM100,000, had been
purchased.
Dr Koh said the state government would also help form a four-party committee
involving the government, the developer, the purchasers and the bank to help
settle the matter amicably.
"I will personally chair the first meeting (in about three weeks), the subsequent
monthly meetings will be chaired by the state secretary. The Housing and Local
Government Minister will also be invited to the meeting," he said, adding that
the state would monitor the progress on a monthly basis.
Dr Koh said the purchasers should reply to the offer letter, which would be
sent by the developer, within 14 days.
At another function the Chief Minister also reminded taxi-drivers that foreigners
regard Penang as the world's sixth most beautiful island when he launched the
Taxi Drivers and Entrepreneurs Association (Petekma) Syabas Malaysia stickers
at the Penang International Airport on Tuesday.
He said they would benefit from the state government's efforts to promote tourism
and with more income, they could upgrade their services which would enhance
the image of the state as well as the country.
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