BEWARE OF MALAYSIAN PROPERTY SCAM.
SLOW DEATH
who made his money cheating people. He is proud that he is untouchable as
all the politicians, police and judges are in his pockets.
His modus operandi have always been to start a project by borrowing
massively from corrupt bank managers with land from an ignorant and greedy
owner. He will then market the project cheaply to unsuspecting buyer, who
are held to ransom by deleberate construction delay. Each time enough buyer
pays up, he will do a bit more and this goes on and on.
Whatever units that could not be sold are then marketed in Singapore with
guranteed returns. Unsuspecting buyers in Singapore bought them not knowing
that the Company offering the guarantee only have a paid up capital of M$2
Ringgit!
Most projects are never completed and when buyers take things into their own
hands, they found a mountain of debts owing to the banks, suppliers and even
the Malaysian gorvernment over development taxes, strata title payment, etc.
On closer inspection, the buyers will discover that the sewage systen ends
in a hole in the ground, the electricity supply connects to nowhere and
there is no water supply.
In the end, all buyers lost all their monies and nothing could be done. Many
of these projects are overtaken by lallangs and trees and mosquitoes.
Meanwhile, my relative is fast becoming a billionaire with more such
offerings in Singapore. To him, Singaporeans are the world's number one
IDIOTS with a pocket full of monies!
Polar Bear
he plays small, only get singaporeans....UBS plays big, they get GIC.
Riglin
a certain political party since he's "untouchable"?
"SLOW DEATH" <mati...@gmail.com> wrote in message
news:g02ulc$bq9$1...@reader01.singnet.com.sg...
CKSF <CKSF >
message from <g02ulc$bq9$1...@reader01.singnet.com.sg> subject as: BEWARE OF
MALAYSIAN PROPERTY SCAM.:
wrote/and/or quoted:
Obviously you never heard of adchin
LOL
>CKSF
also known as chow-kow-sick-fűçkk(cksf)
CKSF <CKSF >
<g02ulc$bq9$1...@reader01.singnet.com.sg> from <48252...@news.tm.net.my> subject
as: Re: BEWARE OF MALAYSIAN PROPERTY SCAM.:
wrote/and/or quoted:
>Thank you for alerting all of us about this scam. Is this person a member of
>a certain political party since he's "untouchable"?
Aiyah, nothing new lah
no substance
pg
Besides books, I own an old car, some computers, and a small office.
No land, no house, nada.
Why? Because Malaysia is definitely NOT the country for me to buy any
property.
What you said below, is only half of the picture. There _are_ more to
it, much, much more.
Many of my friends are developers too, those unscrupulous kind. Hey, I
gotta say that I did learnt a lot from them. :)
pg
> Thank you for alerting all of us about this scam. Is this person a member of
> a certain political party since he's "untouchable"?
You don't even need to belong to any political party. All you need is
to make your money talk.
That's all. :)
And oh, when I get more free time, I'll teach you guys how to STEAL
land in Malaysia. :)
spider
tell to my fellow Singaporeans:
Not all Malaysian properties marketed in Singapore are scams.
But beware of the " rental guarantee of x% per annum." If they have no money
to pay you the guaranteed rental, there is not much you can do.
I have purchased TWO properties in Malaysia in the past. Thank God, I
managed to sell them (after holding them for years at a small profit, but
lost on the money exchange when I convert them back to SGD).
One condominium property (after owning it for fifteen years) could not be
issued with a Strata-Title Certificate -- finally I sold it off based on the
Assignment Documents. Because there was no Strata-Title Certificate, the
Management Corporation could not be formed by the Subsidiary Proprietors --
hence the developer may call the shots on the maintenance fees.
To rub salt into my wound, the rentals I received , after deducting all
expenses, were taxed at a flat rate of 30% ( tax law for foreigners). That
is to say for every one thousand ringgit I received, it was taken as my
income, and I have to pay MR 300.00 for income tax.
My relative was not as lucky as I was. He bought a high-end condo near
Ampang. After paying up to 80% based on the Architect's Certificate, the
developer went bust, and not all the purchasers agreed to put in some more
money to complete the project. It is now about 20 years already, and one can
only see concrete columns and beams -- no brickwalls , windows, or plaster
finishes. So beware!
Especially if your are buying an expensive cond (which is intended to be run
as a hotel), read the documents very carefully. You may end up getting paid
your "guaranteed rentals in credit notes" which may be used to set-off
against your monthly maintenance. The developer may own the units which are
run as hotels and collect the rent. So your units will only be rented out
after all the developer's units are occupied during the peak periods.
So read your Sale & Purchase Agreement and the Rental Agreement very, very
carefully. Best spend some money and consult a Singapore lawyer.
"pg" <pen...@catholic.org> wrote in message
news:d0fe812a-71f2-4adf...@p39g2000prm.googlegroups.com...
Ir. Hj. Othman bin Ahmad
> To be fair to the Malaysian Property Developers. I have the following to
> tell to my fellow Singaporeans:
>
> Not all Malaysian properties marketed in Singapore are scams.
>
> But beware of the " rental guarantee of x% per annum." If they have no money
> to pay you the guaranteed rental, there is not much you can do.
>
It is best to buy properties that have already been completed.
I notice that they are cheaper also.
...
Osman
The land you stole has strata title or just stolen title ?
spider
viable ones will definitely cost more than the original price, because the
existing owners knew they bring good and continuous safe returns. The ones
that are sold cheaper than the original prices are those not viable and have
problems of one kind or another -- these properties often are having minimum
maintenance and waiting to become slums -- can see moss, algae, and
dilapidations all over.
"Ir. Hj. Othman bin Ahmad" <oth...@lycos.com> wrote in message
news:2d62fe04-af0c-49af...@h1g2000prh.googlegroups.com...
SLOW DEATH
tightest Agreement will not help the buyer. There are a thousand ways to
stop your case being heard and if you are lucky to get a hearing after 10
years, the Court clerk will nonchalantly announced that the file is missing
on the morning of the hearing!
So you go on for another 10 years for your file to be located. Just remember
that Malaysia is a country where the powerful, rich and connected can have
you murdered with impunity!
"spider" <spid...@singnet.com.sg> wrote in message
news:g041vi$cl3$1...@reader01.singnet.com.sg...
SLOW DEATH
fine day, some Ahmad will claim that this land was given by Sultan XXX in
1821 to his great, great, great grand father!
"Osman" <Os...@NEP.com> wrote in message
news:g05gao$gau$1...@reader01.singnet.com.sg...
pg
It's the SYSTEM !!!
The entire Malaysian governmental machinery is powered by BRIBES !!!
But then, you guys in Singapore should have known that, right?
Me, as a Malaysian myself, won't even put one single cent into buying
_any_ Malaysian property. Almost all my money is OUTSIDE of Malaysia.
If any Singaporean still do NOT know that Malaysia is powered by
BRIBES, where have you been all these years???
I mean, just across the water to the North is Johor Bau, the Cowboy
Town, which is typical of Malaysian cities ---- filled with filth,
shits, bribes, utterly useless racists, and so on.
And if you guys are SSSSSOOOOOO STOOOOPID to invest your money in
Malaysia, and then lost it all, who is to blame but your own
stupidity?
But then, as the adage "Fools and their money" ... you know the rest.
On May 10, 7:46 am, "SLOW DEATH" <matim...@gmail.com> wrote:
> Since most Malaysian developers have the Courts in their pockets, even the
> tightest Agreement will not help the buyer. There are a thousand ways to
> stop your case being heard and if you are lucky to get a hearing after 10
> years, the Court clerk will nonchalantly announced that the file is missing
> on the morning of the hearing!
>
> So you go on for another 10 years for your file to be located. Just remember
> that Malaysia is a country where the powerful, rich and connected can have
> you murdered with impunity!"spider" <spider...@singnet.com.sg> wrote in message