Pandan Perdana property owners left in quandary after developer files for bankruptcy

Pandan Perdana property owners left in quandary after developer files for bankruptcy

AMPANG, Dec 28: Pandan Perdana property owners got a rude shock when they received a letter on Dec 2 from a liquidator requesting them to verify ownership of their properties after the developer filed for bankruptcy.

If the owners fail to do so, their properties will be reclaimed, this is after Perwira Indra Sakti Sdn Bhd, the developer for their properties which includes shop houses, low-cost flat units, and terrace houses, filed for bankruptcy and is in the process of liquidation.

However, residents say they have not been given enough time to collect all the relevant documents requested by the liquidator.

Teratai assemblyman Tiew Way Keng, speaking on behalf of 157 owners, requested for an extension of at least two months so they can ready the documents.

“Many of the owners are currently away, some of them are out of the country, and some no longer stay here. The owners are requesting for a minimum of two months to get the requested documents,” Tiew told the press at a restaurant in Pandan Perdana here.

She then questioned why was the request so sudden as the liquidators were appointed on Nov 22, 2007, and why were the owners imposed a liquidator fee of 2.5% of their properties’ current market value.

Residents say this is grossly unfair as most of the properties had grown significantly in value and the rate will force them to pay thousands of ringgit.

Meanwhile, Tiew called on the Ampang Jaya Municipal Council (MPAJ) to defer implementation of a coupon parking system in Pandan Perdana as this would increase the cost of living for traders and residents there.

Besides residents there not having to pay to park for decades, she also pointed out the low compound collection rate of MPAJ.

“According to the Auditor General’s Report, MPAJ only collected 18.4% of all compounds issued in from 2010 to 2013,” Tiew said.

— THE SUN

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