Meeting with FH on 30/07/09 @ 10.00am

Dear all,

As informed earlier, the complete QS report will be out by next week. Hence the committee has arranged for a meeting with FH to review the report. The meeting will be held at FH office in Brickfields next Thurs, 30/07/09 @ 10.00am.

The committee has decided to open the invitation to all the purchasers who wish to attend as well. If you are able to make it on that day please attend.

For any enquiries please call Elsie at 016-280 6906.

Thanks!

53 Responses so far »

  1. 1

    Rosminah Mohamed said,

    How I wish to attend the meeting. Unfortunately, I have another commitment on that day. Feel grateful if you able to email me the QS report.

    Thank you

  2. 2

    rose said,

    Please do let us posted on what had transpired during the meeting. Sorry i could not attend the meeting due to other committments.
    Tq.

  3. 3

    sc said,

    Just called Elsie, she said need to top up 30K. Can anybody tell me can our house sell it at price 150K ?

  4. 4

    Vincent Leong said,

    Hi SC, yes the figure to top up is shocking but again we leave with no choice. We get nothing if we don’t agree to top up as the project will not kick off without it. As for you concern on our property value, the nearby Ketumber Hill are selling at RM 150K for unit of 800sf. I believe our property should worth more than that upon completion finger cross.

    Let everyone agree on the top up and have the project move on. The timeframe to complete is 14 months from now…. if everyone agree upon.

  5. 5

    Jason said,

    Agreed with Vincent, and they shall be a meeting between all the purchasers and FH, they will send out a circular to all the purchasers regarding the date as well as the venue of the meeting. Tentatively they will meet us within the next 2 weeks.

    If you do not receive any information pertaining to the meeting, kindly please contact our commitee members or follow up with this blog.

    You cooperation is very much appreciated!

  6. 6

    Ka Long [B-13-17] said,

    I agreed top up the price.Now the frist importance is house can complete build ….if not ,nothings !

    TQ by all the committee!

  7. 7

    Jimmy said,

    Dear all.

    I agree to top up.

    tq

    Jimmy
    B-6-16

  8. 8

    Eric said,

    I also agree to top up.

    If we do not top up. We totally get NOTHING.

    At least 3 things we cannot do if we don’t top up to finish the project:-

    1) We cannot stay in
    2) We cannot rent it
    3) We cannot sell it

    If this is the 1st property, we also cannot do refinancing for buying another 2nd house.

    So, we really have no choice! I definitely will top up to get my 1st house done!

    I sincere hope you all will do & appreciate for the committee’s effort too.

  9. 9

    Edwin Yeap said,

    I agree to top up at least we got a house. But will the bank lend us extra 30K? They will again assess your financial background, income, etc. Maybe not all of us can get it approved.

    Will FH get some form of guarantee with some help from the government that this project will be successfully completed? Anyhow, the high court already step in to appoint FH. I am sure the bank also wanted some confidence that this project will complete before they lend us the 30K whether or not your income qualify for this additional sum.

  10. 10

    Jimmy said,

    Dear all,

    Can somebody answer and explain the below doubt ;

    1. How if the bank don’t want to increase the loan financing .
    are the project still gonna continue?
    2. Will FH continue the construction if the owner fail to get the top-up.
    3. Are they gonna sell the property and refund our money.
    4. IS there gonna be any understanding agreement with FH/appointed developer for the continuing project .
    5. Is there any legal fees involve for the signing.
    6. What if owner do not want to top-up .

    Thank you.

  11. 11

    Annie Chin said,

    Dear all,

    Sorry i just know it, may i know when we need to top up 30k ? and conform can complete on 14 month by ride now? i very scareing.
    may i now how many people argree to top up ? for me, no choice must be top up 30K for complete the house.

    Thank you!

    Annie Chin
    B-14-22.

  12. 12

    Eric said,

    Dear committees,

    Thanks for the committees all the while effort and hard work since setup the committee till now.Notice that there have some not so active committees and have some non-committee become a very active & helpful committee to get thing done.This is call team work & I hope in the near future,we can work together to get our dream house back ASAP.

    Meanwhile,since the QS report was completed,can this report post to this blog for us to have a review?Perhaps some expert can share & point out if the QS report is fair to us as :

    – price quoted fair enough?
    – how FH calculate the estimation of RM30K need to be top up for each unit?
    – how transparency of the report & quotation?Any documents support?
    – any changes of build material against existing A&P?
    – existing bank loan arrangement
    – RM30K is final top up?Inclusive of responsibility on CF application & completed with CF,startle title application & so on?
    – any new agreement with FH & bank?
    – new contractor responsibility such like terms of warranty …etc.
    -top up payment to who? I notice that our QS report payment we,purchaser still issue the payment to Mudi Angkasa under liquidation.I think the top up amount won’t thru this “Cheap & Cheat” company since it will be winding up & disappear in the SSM list soon.
    – Finally,interesting to know the management control,facility maintenance,setup JMB & so on…!

    Thanks!

  13. 13

    sc said,

    About the top up, i just check with my bank, RHB, they are not allow to re-finance, any changes inclusive top up the loan amount if the project still not complete. The bank said this rule is apply to all the bank, the top up can only be done if the project is fully completed. My question is, is the new developer agree to release the remaining loan as per S&P, and then top up after developed ?

  14. 14

    Fuck U Mudi Angkasa said,

    I have no idea where i can get the 30K..did assurance for that fucking apartment still covered?..i’m sorry cos i cannot be patient anymore..it’s burning my soul..

  15. 15

    Jason said,

    hi everyone, i understand your frustrations and doubts regarding the top up value, the most important thing right now is to put aside our angers and disappointments and then look for the best resolution, FM will send us a formal circular regarding the next meeting which tentatively to be held in 2 – 3 weeks time.

    We couldn’t afford to delay our project anymore or else we will end up by paying more and more interest! FM will be advising us on how to increase our existing loan for the 30k, they will definitely advise us on getting the $ since they have revived many abandoned projects before.

    Let’s meet up during the gathering with FM and we shall resolve this matter together.

  16. 16

    Anom said,

    Hi All,

    Since I’m fully aware that I have no choice here, other than to top-up the 30k. So, may I know when is FH expecting us to made this payment so that I can make the necessary arrangements? Is this figure final?

    Does anyone know when is FH scheduled to meet with us? I already have plans in the next few weeks, but I don’t want to miss this meeting. So I need to know the date of this meeting to reschedule my appointments.

    I remembered during one of our meetings before, EPF withdrawal was mentioned. Is this possible?

    By the way, do we need to get a lawyer on our side as well? Just curious…

    Thanks!

  17. 17

    Jimmy said,

    Dear all.

    Nothing can be done …for me if i cannot toppup the amount…let FH take my properties,sell it …pay back my loan and i free from this problem..

    If using EPF I dont want to do that …can we withdraw EPF for abandon project???. If increase loan for uncomplete project my bank is not allowed.

    I wonder how FH will ask us increse the loan amount????. If pay cash 30k i dont want to involve.

    I still waiting the meeting with FH. hope we can settle this problem in good manner.

    thank

  18. 18

    Janice Chia said,

    RM30K is equivalent to 24-25% above our property value. We are already losing the interest payment of 5/6 years and now we have to top up RM30K.

    Can FH allow us to pay by installment immediately after the last disbursement of our bank loan for this property? Can they help us by securing the loan from the Malaysian Association of Building Society or can the goverment help us by subsidising the balance cost of this abandoned project?

    Since this is the sister company of Talam, can they help? Can we claim against the culprit of the directors’ who are responsible for this project?

    What would happen to my unit if my banker are not willing to increase the loan and I do not have the money to top-up?

    Please advise.

  19. 19

    Ms Loh said,

    Will this incident happen again? What i meant is that, will FH run away with our money and left us with this undone building just like Mudi Angkasa?

    Is there any things that we can hold on to, or assure that this will not happen again upon top up of amount?

  20. 20

    Eric said,

    Another suggestion is, will there any assurance like agreement within us & FH for the top up of RM30K will be paid after the project done & CF received? I think most of the purchasers also hope like that…”Pay On Delivery”…

  21. 21

    Eric said,

    I don’t mind to be forced to pay the top up of RM30K in the agreement said after the project done & CF received.

  22. 22

    khairul said,

    i’m also agree with u opinion Eric. I’m afraid to get another loan since what had happened with us before…..I can’t afford to pay more. What if the house is still not completed.

  23. 23

    Suresh said,

    Dear all,

    There are a lot of questions been raised in this blog which the committee are not able to provide you answers as we are also in the same boat as all of you. FH personnel are the best person to provide answers for all your questions.

    FH is in the midst of making an arrangement to have a meeting with all the purchasers soon. The date has been fixed to be on 05/09/09 @ 3pm. The venue is to be advised. They will be sending out the circular regarding the meeting by next week.

    Please attend the meeting and raise all these questions. Taking into consideration the committee’s request, they have agreed to invite representatives from the banks which were the end financers for the project for the meeting as well. Perhaps you should consider bringing your loan agreement on that day.

    FH is trying to get the list of end financers for the project from Talam. Below are the list of the financial institutions which provided loan for the project which we are aware of. Please let us know, if you have taken loan from other banks besides this:-

    1) Citibank
    2) Alliance
    3) Government

    Thanks!

    Suresh
    B-7-14

    • 24

      Unit B-13-13 said,

      Hi Suresh,

      I got my loan from Standard Chartered Bank. Thanks!

    • 25

      AZHANA BTE ADENAN said,

      HI SURESH

      I’VE GOT MY LOAN FROM AFFIN BANK

      THANK U.

    • 26

      Adrian said,

      Hi, Suresh i only aware of this website after the 05/09/2009 meeting from FH, and would like to inform i got the loan from AMBANK.

      So what is the procedure likes if we need to include the 30K from the existing bank loan and is there any documents to support in order for us to proceed the bank.

      Regards.

  24. 27

    megatron said,

    hope there will a supplementary agreement on top of existing s&p agreement…..project must start as soon as possible before the next general election….

    after this election….we would not able to enjoy competitive BLR or BFR anymore….economy will start to buck up whoever win the election…PR or BN… right now…BFR or BLR is around 5 to 6%…. after huge fund coming from overseas next few months…we would no longer able to enjoy such competitive rate….

    yes…agreed to have a meeting…but hope not at previous DAP’s office…too near with wet market of Taman Muda that selling pork at open area…..most of the Muslim buyers turned back after found the location

    I will support the committee…

  25. 28

    Edwin Yeap said,

    I am sure all of us want answers ASAP. I suggest all the questions asked in this blog be consolidated into a list to submit to FH 2-weeks in advance before the meeting. This will ensure when we attend the meeting, most of our questions will be answered on that day.

    Time is not on our side and everyday the bank is charging us interest. Save some time by sending all questions to FH in advance.

  26. 29

    sc said,

    1) Citibank
    2) Alliance
    3) Government
    4) RHB

    I added my bank, RHB, and i just talked to RHB about my case. Few impt point i got from bank
    1) I request to recude interest rate, my one is BLR + 0.6
    Ans : Not allow – reason is I settled all my loan since long time ago. I request to reduce for the coming release. They will consider it if the development start again with the condition i can’t settle all within 6 years.
    2) what if i want to refinance
    Ans : Possible but for our case dun think other bank want to take over
    3) what if i want to increase top up 30K
    Ans : the top up can only be done after the project fully completed (the rule is apply to all bank), another 30K need abt 3K legal fees

    Conclusion is :
    The best choice is settle by cash. Otherwise in order to enjoy better interest rate, term and condition need to apply.
    Possible to top up but u need to preapre for the legal charge

  27. 30

    Elsie Lee said,

    At last the QS report is out…………wah what ah…..top up 30K….I understand and I know your anger, frustration and sad news about the top up of 30K. At least we have the QS report done and we have to move on now… Decision to continue this project is on every purhasers hand….There will be a major meeting on 5/9/2009 at 3pm please come and join in for this important meeting and bring all your questions and doubt to FH about this project. At the end of the day there must be solution to this project………….I will go for the top-up….. cause going to calculation for what I have paid it is better for me to top up….

  28. 31

    megatron said,

    Hai Dear All

    Where the meeting on 5 september 09 willl be held?

    i would suggest FH to call representative from the bankers that funding buyers of this condominium project….at least they can provide some answers…

  29. 32

    Suresh said,

    Dear all,

    The meeting place was just confirmed today. It is going to be in the MPAJ auditorium, opposite Menara Maxisegar. FH will be sending out a circular regarding this meeting early next week.

    We have suggested to FH in the meeting on 30th July, to get representatives from the banks as well.

    It is a very important meeting and please make it a point to attend.

    Thanks!

    Suresh
    B-7-14

  30. 33

    prcss r said,

    Saya ingin buat cadangan bahawa kita semua jangan membayar satu sen pun pada mereka kecuali satu surat perjanjian dibuat dihadapan lawyer kita (appoint lawyer) dan diletakkan syarat seandainya projek tersebut tidak dapat diaiapkan dlm jangka waktu yg tlh diaorg tetapkan maka mereka harus membayar semua gantirugi wang kita dan menanggung semua kos (masa,perjalanan,minyak dsb) .. Cadangan ini datang sendiri daripada pihak Bank saya agar kita diselamatkan oleh anasir-anasir penipu seperti mereka dan semua kaum kerabat yang terlibat!!
    Jangan terlalu cepat percaya kerana sejak dari august 2008 hingga kini tdk ada langsung solutions yang 100% berpihak kepada kita sebagai pembeli. Semuanya hanya 100% berpihak dan menguntungkan mereka. Mana ada wujud caj pembeli tambah wang lagi RM30k..!!!!!!

  31. 34

    prcss r said,

    Buat commitee.. tlg la jgn asyik nak ikut telunjuk FH sedangkan mereka buat tidak tahu HAK kita sebagai PEMBELI yang TERANIAYA.. Bela sikit kita jangan suka ikut aja cakap C Kumar tu..@ FH @ Mudi Angkasa.. Bila x bayar kita kena saman tapi bila projek diaorang X siap siapa nak saman dan tuntut mereka??????

  32. 35

    khairul said,

    Harap berhati-hati kali ni jangan kita tertipu lagi…2X tertipu habisssss….matilaaaaa

  33. 36

    Azie Nordin said,

    Hi Suresh,

    I got my loan from Maybank Bank. Thanks

  34. 37

    edwinyeap said,

    Hi,

    It is important to know who is this new contractor or developer that will continue to re-build our condo. We want confidence, the bank also want confidence to loan us another 30k.

    I hope the government can step in to appoint 1 developer that has good reputation, has the money and also a “government linked corporation”.

    By the way my bank is AmBank.

  35. 38

    Suresh said,

    Below are the list of financial institutions which have financed our project:-

    1) Citibank
    2) Alliance
    3) Government
    4) RHB
    5) Maybank
    6) Ambank
    7) EON Bank

    Any others, apart from this? Please notify us ASAP.

    Thanks!

    Suresh
    B-7-14

  36. 39

    Jimmy said,

    Dear suresh.

    I add up my bank to the list:

    1) Citibank
    2) Alliance
    3) Government
    4) RHB
    5) Maybank
    6) AmBank
    7) EONBank
    8)Affin Bank

    Thank you.

  37. 40

    rose said,

    hi suresh,

    mine govt loan….

    will attend the 5 Sept 09 meeting.

  38. 41

    Ms Ng said,

    Hi Suresh, Committee,

    I really wish to attend the meeting to show my support but unfortunately I will be away to oversea during that period.

    I wish you can keep me updated on the outcome after the meeting. I have borrowed the loan from Citibank. Please update me with the details as what Citibank can offer in order to top up the 30K. Thank you.

  39. 42

    Anom said,

    Hi Suresh.

    I added ‘Petronas’ to the loan list:

    1) Citibank
    2) Alliance
    3) Government
    4) RHB
    5) Maybank
    6) AmBank
    7) EONBank
    8) Affin Bank
    9) Petronas

    Thank you.

    • 43

      Goh Hock Bee said,

      Hi Suresh,

      I will attend the meeting. I received the letter from FH yesterday & Elsie also call me today. I agreed to top up and my finance company is PUBLIC BANK. I did call one of the buyer and she said she will attend and agreed to top up too.

  40. 44

    Dear all,
    So next meeting date comform at 5 sept ?
    and may i know it what time ?
    Thank you….

    B-14-22.

  41. 45

    Suresh said,

    Updated list:-

    1) Citibank
    2) Alliance
    3) Government
    4) RHB
    5) Maybank
    6) Ambank
    7) EON Bank
    8) Affin Bank
    9) Petronas
    10) Standard Chartered
    11) Public Bank

    Thanks!

    Suresh
    B-7-14

  42. 46

    Jimmy said,

    Dear all.

    Hope we can get the best solution to complete our house with FH .

    To all my muslim brothers & sisters i would like to wish all of u `selamat menyambut ramadhan al mubarak` .

    Thank and wassalam.

    Jimmy
    B-6-16

  43. 47

    sc said,

    Dear All,
    I just received letter from FH, the meeting is

    Date : 5 Sep 2009 (Saturday)
    Time : 3pm (Registration opens 2pm)
    Venue : Auditorium, MPAJ, Manara MPAJ, Pandan Indah

    SC
    B-12-21

  44. 48

    miss c said,

    dear all.
    hope everyone reading this blog will attend d meeting.every vote counts to revive our condo.if u cant make it pls make a point 4 someone to vote 4u on your behalf as said in the letter.lets us all pray hard 2 get it on as possible.

  45. 49

    Chin said,

    Dear all neighbor,

    I’m sorry that I’m unable to attend the meeting. I vote for the revival of the project, and praying hard that the project can be completed.

  46. 50

    Leong said,

    Dear Committee,

    I am one of the purchaser who signed the support letter for FH to proceed the scheme after the meeting.
    Just wondering how many of the purchaser were agreed to proceed after the meeting at MBAJ?

    Thanks!
    Leong

  47. 51

    Jimmy said,

    Hi All,

    1. I sign to agree with FH scheme and hope i can get additional topup for my loan.

    2. Hope FH will do it fast as we are losing our money in paying interest.

    Jimmy

  48. 52

    Edwin Yeap said,

    Hi all,

    I am in overseas so not able to attend. You can count my vote here to proceed with the top up.

    I have no extra cash for 30k, so I am assuming the bank is giving us this extra loan.

    Is there any bankers attended the meeting? If “Yes” what they say?

  49. 53

    Janice Chia said,

    Dear committe members and all,

    I vote for the revival of this project but I vote against the sum of RM30k.

    Can FH come down to RM20 to 25K, which I feel this figure is more comfortable and acceptable.

    Can we try negotiate with FH and also get FH to check on the security bond on this project?

    The security bond would be of great help to revive this abandoned project.

    Can we protest to the goverment to early release this bond even if we wait 10 or 20 years time. Talam have failed this project, the only rescue must come from the goverment who is holding the security bond. Don’t you all think so?

    Please comments.

    Thanks
    Janice


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