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View Full Version : anybody stucked with Talam property



kmlim
23-02-2006, 09:48 AM
I bought an apartment in lagoon perdana, they supposed to delivered last April and as you all know talam is deep sh!t right now, so my question:
1. anybody complain to local authority and got substantial response
2. will IJM buy over this shoddy company
3. worst case, if Talam bankrupt, will buyer get compensation, heard that Talam has the biggest land in selangor, mayb they could liquidate those land

alexhay
23-02-2006, 11:22 AM
fyi...what I heard from my friend who bought a Talam property at Puncak Jalil there, she told me that Talam is now in the midst of declaring brankupt....another friend who bought a house at Putra Perdana, also told me the same thing....Talam is giving all kind of excuses...

Once I went to the land office in Damansara there for some other matters, I notice at the whiteboard mentioning cases about developers, and roughly 8 out of 10 cases mention there was Talam...

I personally seen the house they build, totally screwup..and also the finishing was really bad with cracks on the wall..

kmlim
23-02-2006, 12:44 PM
bankrupt, there stil anything that I can from them other than incomplete view? :(

lonewolf8
23-02-2006, 01:25 PM
I understand that once a property company is declared bankrupt, receivers and liquidators will be called in to administer the company. All the assets wil be accounted for and the receivers and liquidator will try to sell the assets to pay off the debts which the bankrupted company owed to. At the same time, no further work will be done for any ongoing housing projects as the contractors would not continue to work as they know they will not get paid. Usually the bondholders, creditors i.e banks are paid off first and whatever remaining is then paid to the shareholders.

As per my understanding is that Talam is a highly geared company i.e. lots of debts running into hundreds of millions. If the company is declared bankrupt, most likely the housing project which the company currently constructing will be stalled, unless a white knight comes in to take over the company and also the projects. There is nothing much which house buyers of a stalled project can do. Usually, these house buyers of a stalled project will formed a group and try to seek redress.

Perhaps you can try to rope in all the house buyers of the same housing project to form a group to address this issue. Call in the reporters, TV3 and complaint to Michael Choong, the Menteri Besar of Selangor, MCA President as he is the housing minister.

MOYSC
23-02-2006, 01:55 PM
I bought an apartment in lagoon perdana, they supposed to delivered last April and as you all know talam is deep sh!t right now, so my question:
1. anybody complain to local authority and got substantial response
2. will IJM buy over this shoddy company
3. worst case, if Talam bankrupt, will buyer get compensation, heard that Talam has the biggest land in selangor, mayb they could liquidate those land

Hi KM Lim,

Kindly register as a member at this yahoo group - LPRA : http://groups.yahoo.com/group/lagoonperdana_residents_assoc/

It was formed by LP purchasers and the person to contact for detailed information is Jocelyn Wong. Look out for her details in the website.

Meanwhile, all the above has already been anticipated. Tenaga Gagah has been recently bought over by Honest Prestige S/B, a Sabahan group and they have agreed to re-start the temporarily abandoned project at LP sometime in mid April 2006 and had promised completion of the 4 abandoned blocks within 13 months from then.

So, please do not take any legal action at this juncture, as our priority is to see to the project's completion. No point harboring on our losses of a few thousand ringgit as it is nothing substantial when compared to over a RM100k property value.

PM me if you need more info. I'm also one of the many affected purchasers.

Nina

MOYSC
23-02-2006, 03:54 PM
Attn purchasers of Lagoon Perdana,

Kindly take note that a new company has recently taken over Tenaga Gagah's projects. The company is known as Honest Prestige Sdn Bhd.

If you have particulars to be changed or updated (ie. change of address, etc.), please drop them a line at :

Tel : 03-4291 1989
Fax : 03- 291 2988

The lines will be only be activated beginning from 28th February 2006 and each purchaser is advised to update your particulars before 10th March 2006 so that you will be able to receive latest updates from the company.

Cheers,
Nina

SS19flyover
23-02-2006, 05:42 PM
Never buy houses from bad reputation contractor, if possible never buy houses that is under construction, in Malaysia, the damn law protect those bastard contractor who gang up with the bank to kill house buyer like us.
even the house is only complete 40%, when the company runs into trouble and want to declare bankrupt, the bank will said they are already release 95% of the load to the contractor. Your agreement accountability is to the bank, do not fall into trap like this guys. Buy ready build old houses is the best solution.

joker2107
23-02-2006, 06:19 PM
yr hon minister of hsg n local govt has repeatedly sworn that irreponsible developers r blacklisted n will not get any more licences. will all victims of talam group pls ask him how and y is it that d group has been granted so many d.o.

alexhay
23-02-2006, 06:32 PM
even though is slightly expensive for ready build house but it will save you a lot of trouble....

and if is ready build house, make sure that u know who is the developer and also do a background check on the developer and also the seller. Also make sure that it comes with CF...

cheers

joker2107
23-02-2006, 06:53 PM
even though is slightly expensive for ready build house but it will save you a lot of trouble....

and if is ready build house, make sure that u know who is the developer and also do a background check on the developer and also the seller. Also make sure that it comes with CF...

cheers
it may b priced slightly more in d sales n purchase agmt wit developer but buyer saves interest pd 2 bank 4 progressive release. interest saved cud b more than diff in purchase price.

also if buying ready built hse make sure got defect liability period. so what if hse is up n u seen it - so many problems r not visible until u try 2 settle in. even a million $ car bought after sighting n testing has warranty period.

GTMIL
23-02-2006, 07:25 PM
even though is slightly expensive for ready build house but it will save you a lot of trouble....

and if is ready build house, make sure that u know who is the developer and also do a background check on the developer and also the seller. Also make sure that it comes with CF...

cheers
Was told that the best timing to buy a house is when developer just handed over the key. Why? Longest Defect liability period, however, must make sure the seller takes hown loan from a bank and has not make full settlement yet. This will ensure that you can keep the property even if seller bankrupt later. ;)

Teeque
27-02-2006, 03:44 AM
Any purchasers webgroup or website for the Puncak Jalil properties?

MOYSC
27-02-2006, 07:20 AM
Any purchasers webgroup or website for the Puncak Jalil properties?

There is a community forum at http://www.puncak-jalil.com/.

Likewise, type the search word "puncak jalil' at http://groups.yahoo.com to find the various groups discussing on its issues. :)