Buyers want project revived
23/01/2008 New Straits Times

THE Cahaya Kota Putri House Buyers Pro-Tem Committee, which represents more than 1,000 buyers, will hold a purchasers' general meeting at Permas Jaya MBJB hall on Jan 27 to call for the revival of a project that had been abandoned since October 2005.

A committee member, Yong Yoke Mui, said the meeting would give an up-date on the progress of the revival of Bandar Baru Kota Putri Project which consists of single-storey, double-storey, semi detached double-storey and apartment units.

She said the project was suspended three times since 2002 and was completely abandoned in October 2005 due to unresolved financial difficulties faced by the developer. Yong said most of the purchasers faced difficulties repaying their loans and some already had been blacklisted by banks.

"We have been waiting for more than five years for our homes to be delivered and until now we are still without a roof over our heads.

"The purchasers are mostly low and middle-income people.
"It is a big burden for us to have to service housing loans with interest and installments every month for uncompleted units," she added.

Another committee member Alice Yong said the committee had submitted its revival proposal to the bank and liquidator but nothing had been done so far.

"We are very disappointed by the attitude and ignorance of both parties involved in not resolving the matter and reviving the project.

"Our biggest obstacle is that the wound-up developer's bank refuses to compromise and still wants to get back every single sen of its loan plus full interest from day one."