Blacklist
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Recently, there were 1,018 developers blacklisted by the ministry included 146 for abandoned projects, 337 had failed to settle compounds, 307 had failed to settle the claims awarded by the tribunal, and 131 problematic projects.

What are the common signs that we can aware of bad developer, so we don't buy the wrong property from wrong developer..I think it's really a big money and I think some hints or tips to identify the good or quality developer will be valuable to all the buyers?

The news is from nst, more Info:
http://www.nst.com.my/node/77044

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Where to download the full list?

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Hi @yap_rony !

I'm not sure this is the correct and updated list.
but here you go !

http://ehome.kpkt.gov.my/main.php?Content=vertsections&SubVertSectionID=122&VertSectionID=116&CurLocation=119&IID=

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nicholas ng, it's good enough. thank you

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MK Land's Director faces bankruptcy due to him being a guarantor for a land development (in South of Perth) deal that went sour. Does this mean it applies to Malaysia as well? Hopefully not. Otherwise, poor investors.

Read more: http://www.therakyatpost.com/business/2015/04/09/mk-land-director-faces-bankruptcy/#ixzz3WpD9ynHY

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ABOUT 150 buyers of the Selayang Springs Condominium project made a report at the Gombak police headquarters against the developer for failing to complete the project in time.

Selayang Springs Damar Selangor Condominium Owners Association president Christopher Rozario, 54, who led the group, said the project was launched in 2009 and buyers were promised their keys in 2012 but the developer failed to deliver and the project had stalled at about 65% complete.

He said units in the two blocks of apartments –- Damar and Cedar -– had been priced from RM210,000 to RM500,000 and ranged in size from 86.39sq m to 124.49sq m.

There are 276 units in Damar and more than 200 units in Cedar.

The project sits on about 4ha of land and would have included a gymnasium, swimming pool and other facilities.

“We complained to Selangor Housing, Building and Urban Settlers Committee chairman Datuk Iskandar Abdul Samad three weeks ago and the Urban Wellbeing, Housing and Local Government Ministry four months ago. We also complained to Bank Negara on April 23 but nothing seems to have been done.

“We are in a dilemma. We have run out of ideas and have sought help from local leaders here,” the frustrated Rozario said after collecting a copy of his six-page police report.

He said some buyers were still servicing bank loans, paying between RM900 and RM2,000 monthly, and still had no idea when the condominium would be ready.

Rozario and the other buyers have now raised the issue with Selayang MCA secretary Ryan Ng and Selayang MCA Youth chief Chan Wun Hoong, who said they would do their best to help.

Chan said the Selangor State Development Corporation (PKNS) should intervene as the abandoned project was affecting the housebuyers.

“I will bring this matter to Urban Wellbeing, Housing and Local Government Ministry to see how it can be solved, and will arrange a meeting soon,” he said.

Ng said he was looking at alternative ways to ensure the project was revived as soon as possible.

He said some buyers had purchased the property with the dream of retiring here in a condo-living environment but now had to fork out money to the bank monthly without having anything to show for it.

“Our main concern is for this project to be completed or have another developer take over, depending on the ministry’s decision,” he said.

http://www.thestar.com.my/Metro/Community/2015/06/01/Lastditch-effort-for-resolution-More-than-100-housebuyers-make-police-report-against-developer/

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Oh? Is Selayang Springs Condominium related to MK Land?

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@danielfoo, no I don't think it's MK Land. The developer for this is Barisan Tenaga Perancang, a subsidiary wholly owned by the Masa Group of Companies. Haven't really heard of them before, guess they are not very established.

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Well that's the chicken and egg problem. As a buyer you don't want to buy from new developer which do not have a good track record to avoid such risk. As a developer if no one buy from you when you are new, how do you build a good track record.

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True, but usually investors would buy from a more established developers. However, of course they charge premium because of branding and integrity too. Where as new developers or not so established ones, usually throw in a lot of freebies, I realised.

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As you may realise, it seems like everyone can be a developer. Small and big construction companies started to turn into developer themselves as the profit from developing and launching projects is irresistible. Looking from the buyers' perspective, we have more choices to go for. However, the continuous increased in the prices is also another con for us. For me, choosing the right properties with established developers is an important factor to be considered of, in order to avoid any delay and unwanted situation.

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Yes Jimmy, abandoned construction is the worst nightmare anyone could have with a under construction project

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Very risky and scary. why are there so many? what are the government plans to deal with this and reduce the number keep on coming up in the future?

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This is very important for us to know as to avoid wrong invest in unsecure developer project. But sometime things also will happened without we aware about it right?
Hmmmm... still looking for a justification way of to justify the developer integrity in th market.

Anyone have special advice on how we can do so? TQ

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