Ara Damansara

On Sunday, January 3rd 2010 the Protem Committee (PC) met up with Ara Damansara Residents Association (ADRA). Platinum Damansara (PD) has been an eyesore for the surrounding homes and neighborhoods. We now have their approval and support for revival of the project. They want it completed too.

An influential person in ADRA led a photographer through an alternative back entrance into PD compound to survey the site and take photos. The photo above and below shows the present condition of inside PD compound. Some lower floor units have been fitted with window glass and is being occupied by the Indonesian construction workers on site. This is a cause of concern for ADRA.

Upon further inspection of the photos taken, we noticed that some of the bricks may have been left vulnerable for too long and may be unusable. This is cause of concern for us as this suggests that the longer the project site is left as it is the more repairs and fixes will need be carried out, inevitability rising the cost for PD revival.

On Tuesday, January 5th 2010, PC met with a reputable housing developer presenting our case to them and indicating the support and common objective we have from the surrounding residents through ADRA. The head of property development mentioned two things of interest: One being that PriceWaterhouseCoopers (PwC) demanded a lump sum payment for the project, while the interest party is being reasonably in favor of progressive payment; Secondly being communications is not done through PwC alone as Receivers and Managers (RM) since the project bidding was actually called by land owner Mico Vionic whom has a less reputable standing. This raises more questions as to why the RM did not call the bidding themselves.

Furthermore, according to speculation by this developer, the project should not have cash flow issues since the bank has released the money. They also speculate the completion of the project around 40% to 60% (bearing in mind that the bank loans released is around 80% to 90%) but cannot be sure unless a quantity survey is done.

It is likely that fraud was the intention of DM from the very beginning. Tang Chai Yoong, the director of Dataran Mantin is already indicted with Criminal Breach of Trust (CBT) and according to Teh Hock Seong (ex-GM of Dataran Mantin) in a phone conversation, he is presently out on bail. You may read the newspaper report here. Nevertheless, we are presently studying the motion of filing a commercial crime police report to make sure those in cahoots with him do not get away with the money.

Based on a purchasers list given to us by DM, the following is a breakdown of number of purchasers by state/region: Kuala Lumpur 129, Selangor 202, Labuan 1, Kedah 8, Johor 13, Pahang 15, Negeri Sembilan 12, Terengganu 9, Melaka 11, Kelantan 24, Penang 24, Perak 71, Sabah 23, Sarawak 87, Australia 2, United Kingdom 11, United States of America 3, Singapore 15, Brunei 6, Ireland 1, Switzerland 1, Saudi Arabia 1, Taiwan 2, Cambodia 1.

Out of 674 listed purchased or booked units, only 670 units are sold. Out of 670 units, 13 units belongs to Squirrel Hill which as we understood should be liquidated by now, and 4 units owned by Tang Chai Yoong himself. Can these units be confiscated and sold? Less than 50 purchasers bought level 16 and above. If the project is to be sized down/cut down can these purchasers be allocated units on lower floors and would it be acceptable to the individual purchasers?

We need your support! Each and everyone of you. PC will keep fighting for the revival of PD. We have not gotten in touch with all of the buyers. In the meantime, unit purchasers who have not got in touch with us please do so as we need to gather as many of you as possible. If anything were to happen, any white knight developer would want us all in agreement.

Keep praying. Keep believing. You can make a difference.