Three companies have offered to take over the management and operation of Majestic Heights, which is facing
problem completing its project in Paya Terubong.
A Majestic Heights spokesman said it was considering "smart partnership" with three companies which are based
in Kuala Lumpur.
"Our new partners are financially well-off and well-versed in the property industry.
"If everything goes well, hopefully by next month the new partners can come in to handle the management and
operation of Majestic Heights," he said in an interview yesterday.
He added that Izzudin Osman, chairman of Nichmurni group of companies including Majestic Heights, would remain
in that position after the restructuring.
The spokesman said Majestic Heights was also seeking a fourth partnership with a government agency to launch
Phase 5 of the project which involved the construction of 7,000 low medium-cost units.
"This is to help strengthen public confidence towards the project," he added.
For Phase 1 LMC units, vacant possession had been delivered to buyers 14 months ago but Occupation Certificate
(OC) for the units had not been issued and work at the project site had ceased.
"At a meeting with Chief Minister Tan Sri Dr Koh Tsu Koon last month, we informed the buyers' committee that OC
would be obtained for Phase 1 by June next year," said the spokesman.
He said OC for Phase 2A apartments would be obtained earlier by December while construction work for Phase 2B
and 3A would commence later this year.
On Monday, lawyer Ramanathan Pillai, who represented 545 buyers, indicated to the Penang High Court the buyers
might have to support a winding-up petition filed by creditors of Majestic Heights and appoint their liquidator in the event the
developer refused to complete the project.
However, the High Court judge said that buyers should give the developer a chance to complete the project.
The Ad-Hoc Committee for Taman Terubong Indah (Majestic Heights) Phase 1 Purchasers filed a notice on July 26,
through their lawyers, to oppose the winding-up petition.
Meanwhile, purchasers of Majestic Heights Phase 1 units who wish to register with the housebuyers' ad-hoc
committee are requested to be at Paya Terubong assemblyman Dr Loh Hock Hun's service centre in Paya Terubong on Sunday.
To register for legal representation, each buyer has to pay RM100 at the service centre between 2pm and 5pm.
The spokesman for the Ad-Hoc Committee for Taman Terubong Indah (Majestic Heights) Phase 1 Purchasers said so
far, the committee had registered 545 buyers for legal representation.
The rest are urged to come forward and give the committee a mandate to resolve the issue of obtaining
Occupation Certificate for their units.
For details, call Chang at Tel: 012-4708828, Yeoh (Tel: 012-4018188), P. L. Chang (Tel: 016-4154511) or Lee
(Tel: 016-4459191).
