Matex Residence

[invest888]

cont' However, when I talk 2the bank officer;who arrange 4 my loan, she said so far UMLand project 2not hv such issues like proj abandon, return the deposit 2 investor etc.. b4. So 2 her it should be quite safe 2 invest in UMLand proj. Will like 2 hear from the rest of the Matex investor abt this issue.
Regards
Investor888

 

[ahhock24]

I have gone through a unpleasant situation during the start of property boom 3-4 year back in KL. Developer come back after long delay that they are "upgrading" the condo design, psf revised up. Many who pay the deposit objected to the proposal, legal issues arise as a result. Which is why signing of S&P is most critical to lock-in your asset.

 

[shctaw]

My move next....

I am using Midwest Ave as my PLAN B now. (Midwest Ave is a commercial asset. Soho type. Can be use as office. Hence I do not mind paying a premium.)

If UM Land fails to launch in time, I will buy Midwest Ave and take my deposit back from NS Global.

 

[streams]

We are non-existant to UMland. The deposit was signed with NS Global. It will be NS Global who can't honor the investment (if it happens), not UMland.

cont' However, when I talk 2the bank officer;who arrange 4 my loan, she said so far UMLand project 2not hv such issues like proj abandon, return the deposit 2 investor etc.. b4. So 2 her it should be quite safe 2 invest in UMLand proj. Will like 2 hear from the rest of the Matex investor abt this issue.
Regards
Investor888

 

[streams]

The location (looks) good but the developer?
but frankly the design sucks (my opinion)...

My move next....

I am using Midwest Ave as my PLAN B now. (Midwest Ave is a commercial asset. Soho type. Can be use as office. Hence I do not mind paying a premium.)

If UM Land fails to launch in time, I will buy Midwest Ave and take my deposit back from NS Global.

 

[FHBH12]

We are non-existant to UMland. The deposit was signed with NS Global. It will be NS Global who can't honor the investment (if it happens), not UMland.

Difficult to inform and get mass signing within 3-4 weeks from now. My sense is the contract will be left to lapse. Then there are the hassle of getting back the deposit and opportunity cost.

 

[streams]

I have made plans as well...

Plan B is Southkey (1st phase serviced residential)...The Mid-Valley of Johor. The cons is that it is leasehold but so is the wonderful 330ha of land it is sitting and developing.

My move next....

I am using Midwest Ave as my PLAN B now. (Midwest Ave is a commercial asset. Soho type. Can be use as office. Hence I do not mind paying a premium.)

If UM Land fails to launch in time, I will buy Midwest Ave and take my deposit back from NS Global.

 

[streams]

Agree.

The latest update I got from a NS Global salesperson was "Do not worry. Your investment is safe. launch delayed is at Umland side. We are indeed the exclusive dealer for UMland. We will honor the deposit despite the lapse date (meaning the contract) when matex is finally launched". Should I be worried?

Difficult to inform and get mass signing within 3-4 weeks from now. My sense is the contract will be left to lapse. Then there are the hassle of getting back the deposit and opportunity cost.

 

[FHBH12]

Agree.

The latest update I got from a NS Global salesperson was "Do not worry. Your investment is safe. launch delayed is at Umland side. We are indeed the exclusive dealer for UMland. We will honor the deposit despite the lapse date (meaning the contract) when matex is finally launched". Should I be worried?

I'm not too clear. Just speaking from an outsider's perspective. As pointed out earlier that it could a delay for re-submission of plan to a re-configure to maximise price and profit in view of this year's major announcements.

 

[streams]

Despite existing worries to Matex, I did not have unpleasant experiences with NSGlobal in the purchase of Somerset Puteri Harbour Unit. I just miss the salesperson who sold me the unit. She is a great salesperson etc.. knowledgeable... dependable..responsive...careful.. BUT she left NS Global soon after I bought the unit.

 

[shctaw]

In life; it is such matter that can screw up our investment plan.

Must pre-empt that situation as we do not know whether NS Global and UM Land still in good term. When a company is in trouble; they will do anything to deceive you.

Plan B - Buy Midwest Ave
Plan C - Astaka (2 units)
Plan D - 2 Bungalow in Senibong

No one plan to fail; but many fail to plan.

Agree.

The latest update I got from a NS Global salesperson was "Do not worry. Your investment is safe. launch delayed is at Umland side. We are indeed the exclusive dealer for UMland. We will honor the deposit despite the lapse date (meaning the contract) when matex is finally launched". Should I be worried?

 

[streams]

I'm not too clear. Just speaking from an outsider's perspective. As pointed out earlier that it could a delay for re-submission of plan to a re-configure to maximise price and profit in view of this year's major announcements.

noted your points. These are potential probabilities and I'd have threw up similar thoughts too.

 

[shctaw]

I bet there are 150 units involve. That will be costing SGD$700k-S$800k in possible lost of earning.
And also a possible "bad words of mouth" advertisement from 100 customers whom already place a booking.

If I am the boss; I will be very worry. Especially after they divert those fund into other activity or investment.

noted your points. These are potential probabilities and I'd have threw up similar thoughts too.

 

[streams]

Prof, Do you have smaller ($$) but value plans as well to share. :o haha.

In life; it is such matter that can screw up our investment plan.

Must pre-empt that situation as we do not know whether NS Global and UM Land still in good term. When a company is in trouble; they will do anything to deceive you.

Plan B - Buy Midwest Ave
Plan C - Astaka (2 units)
Plan D - 2 Bungalow in Senibong

No one plan to fail; but many fail to plan.

 

[shctaw]

Midwest Ave is cheapest and also lowest quantum on my list.
Launching in 8 June.

I am not worry. Just feel the lack of response from NSG to be a real concern. As if they are hiding from something.

How can they not know the actual launch date yet if it is in late May or Early June?

Prof, Do you have smaller ($$) but value plans as well to share. :o haha.

 

[FHBH12]

I bet there are 150 units involve. That will be costing SGD$700k-S$800k in possible lost of earning.
And also a possible "bad words of mouth" advertisement from 100 customers whom already place a booking.

If I am the boss; I will be very worry. Especially after they divert those fund into other activity or investment.

If I am the boss, I won't be worried. Playing devil's advocate:

1. Developer could say that it is NS Global's fault for collecting cheques too early.
2. NS Global could say that it is the buyers' fault for not proceeding to select their (higher priced) units despite honoring their expired option.
3. There are another 1000 buyers queuing to take over the 100 buyers who did not exercise the option.

 

[Bruceli]

Just got to know that menara landmark will have medical suite as well, in addition to doubletree hilton. matex and and midwest should be very valuable with such centralised hospitality and medical services just a stone throw away.

 

[shctaw]

That is where my plan B came into the picture.

I just take it as part of business; and move on with life.

One cannot look back 3-5 years later and blame NS Global for the glitches.

If I am the boss, I won't be worried. Playing devil's advocate:

1. Developer could say that it is NS Global's fault for collecting cheques too early.
2. NS Global could say that it is the buyers' fault for not proceeding to select their (higher priced) units despite honoring their expired option.
3. There are another 1000 buyers queuing to take over the 100 buyers who did not exercise the option.

 

[sillysinky]

Kind of doubtful that UMLAND would play such dirty tricks. However if they were (which I wish they are not) i suppose their strategy was firstly to get an agent to get bookings for 150 units and note that the contract lapse clause is somewhere in June (correct me if I am wrong), which is calculated with buffer allocated to the maximum delay to the GE in malaysia.
If BN wins GE, then let the contract lapse as property prices will continue to boom in Iskandar, no harm to UMLAND 's image or reputation and deposit were taken by NSG. During that time, I noted that UMLAND whether it is JB or KL office, did not seem to acknowledge NSG taking deposit for Matex. they keep saying that it is not launched yet, so I may just register expression of interest.
If they did this, it is purely greed motivated. shame!!

 

[OracleMasia]

Agree.

The latest update I got from a NS Global salesperson was "Do not worry. Your investment is safe. launch delayed is at Umland side. We are indeed the exclusive dealer for UMland. We will honor the deposit despite the lapse date (meaning the contract) when matex is finally launched". Should I be worried?

I dun wait waiting. But my worry is that they will not honour the original prices since prices had soared recently.