Princess Cove R&F

[snowbird]

Chinese developers are big time players. Not easy to go belly up on a single project.
But as Ho Chin Soon always reminded us to buy from well known established developers. They have bigger war chests.

Don't be too sure that big developer will never go belly up.
Kiasa Group Holdings, one of the largest property developer in China had just default on its loan payment.
http://www.bloomberg.com/news/artic...lts-on-52-million-loan-after-chairman-resigns
And nearer home, Malaysia's 1MDB, the very big national strategic investment company also defaulted TWICE on loan repayment recently.

 

[snowbird]

Chinese developers are big time players. Not easy to go belly up on a single project.
But as Ho Chin Soon always reminded us to buy from well known established developers. They have bigger war chests.

The projects by the Chinese developers in JB are sizes of ikan bilis of the smallest kind compare to their total projects in Mainland China.
Over there, they have projects in many cities and project size like Country Garden is only a regular size.
It is the sluggish sales with huge unsold stock back home right now that are hurting them most.

 

[Funniman]

The projects by the Chinese developers in JB are sizes of ikan bilis of the smallest kind compare to their total projects in Mainland China.
Over there, they have projects in many cities and project size like Country Garden is only a regular size.
It is the sluggish sales with huge unsold stock back home right now that are hurting them most.

The phase 2, 3 or 4 is going to take a long time to be launched. It all depends on market sentiments and it is heading south for the next 2 years.

 

[Funniman]

Don't be too sure that big developer will never go belly up.
Kiasa Group Holdings, one of the largest property developer in China had just default on its loan payment.
http://www.bloomberg.com/news/artic...lts-on-52-million-loan-after-chairman-resigns
And nearer home, Malaysia's 1MDB, the very big national strategic investment company also defaulted TWICE on loan repayment recently.

1MDB is a very big stupid investment company who is into buying of power stations and have some land banks including the Sg Besi air base (HSR?) as well as Tun Razak Exchange. They are not developers at all. They borrowed heavily and now they are stuck in m&d.
Kaisa is very small compared to R & F, Evergrande or Country Gardens. But the fact it is the first property developer who went belly up, it kinda set off alarms on the volatile market sentiments. As a investor, it is good to know risks that might arise. It is good to divest to other countries.

 

[MEOWCAT]

Hmm... Sorry I am one who is always interested in construction progress... Anybody noticed anything... For me, I note that there are now two tower cranes there from the original one (true?).

On the other hand... Puteri Cove at PH supposed to VP/TOP at same as R&F (2nd half 2017). They asked for my 2nd progress payment at end December. But R&F still has not requested it and it is now April... Hmmm... delay?

 

[BigMouse]

Hmm... Sorry I am one who is always interested in construction progress... Anybody noticed anything... For me, I note that there are now two tower cranes there from the original one (true?).

On the other hand... Puteri Cove at PH supposed to VP/TOP at same as R&F (2nd half 2017). They asked for my 2nd progress payment at end December. But R&F still has not requested it and it is now April... Hmmm... delay?

I also asked my agent. He mentioned that I will be billed this month. Some tower has already being billed last month. I guess it depends on which tower you purchase.

 

[Funniman]

I also asked my agent. He mentioned that I will be billed this month. Some tower has already being billed last month. I guess it depends on which tower you purchase.

Normally for project in MY, you would have to pay the 2nd 10% once the basement is completed. The 3rd payment depend on which floor you bought and so on. It does not depend on the expected TOP date.

 

[MEOWCAT]

I also asked my agent. He mentioned that I will be billed this month. Some tower has already being billed last month. I guess it depends on which tower you purchase.

Good I guess... Of course I want to pay later but ask for payment means one stage complete so dun mind also... Was originally told Jan would be billed... But how come some towers billed already... Different basement for different tower?

 

[BigMouse]

Good I guess... Of course I want to pay later but ask for payment means one stage complete so dun mind also... Was originally told Jan would be billed... But how come some towers billed already... Different basement for different tower?

Yes, this is a common process in SG and appears to be the same in MY. You are billed for the completion status of your unit. It will be different for unit is different towers. However, eventually it will be the same as the common facilities like road, gardens etc are completed.

 

[snowbird]

Just as I had mentioned before, the phoney beach with deck chairs and all the works to mislead the public will be all gone anytime now.
Reclamation work had proceeded to right to where the "beach" is now, to provide reclaimed land for the next phases.
Being freshly reclaimed, they should not immediately built any highrise building over it so soon but then, with the current market sentiment, I would think the 2nd phase may not be launched too soon from now anyway.

 

[BigMouse]

Found some picture on progress of project. The sandy beach is gone and land has being reclaimed to Phase 2 size. Foundation for Phase 1, (which is most time consuming for most project) appears to be mostly completed. I am just hoping that the politician from both sides has some good news for the RTS this May. JB cannot seem to decide where to put the RTS station. Come on! Get your act together for once!

 

[MEOWCAT]

Found some picture on progress of project. The sandy beach is gone and land has being reclaimed to Phase 2 size. Foundation for Phase 1, (which is most time consuming for most project) appears to be mostly completed. I am just hoping that the politician from both sides has some good news for the RTS this May. JB cannot seem to decide where to put the RTS station. Come on! Get your act together for once!

View attachment 20704
View attachment 20705

Got your bill yet?

 

[ComingToJB]

I am just hoping that the politician from both sides has some good news for the RTS this May. JB cannot seem to decide where to put the RTS station. Come on! Get your act together for once!

As usual, the mudland forever like to play taichi.. haha

https://sg.news.yahoo.com/singapore-denies-holding-back-rts-060437525.html
"Singapore informed Malaysia in June 2011 that the RTS terminus in Singapore would be located at Woodlands North near Republic Polytechnic. However, to date, Singapore has not received official confirmation of the location of Malaysia’s RTS terminus in Johor Baru.

 

[snowbird]

As usual, the mudland forever like to play taichi.. haha

https://sg.news.yahoo.com/singapore-denies-holding-back-rts-060437525.html
"Singapore informed Malaysia in June 2011 that the RTS terminus in Singapore would be located at Woodlands North near Republic Polytechnic. However, to date, Singapore has not received official confirmation of the location of Malaysia’s RTS terminus in Johor Baru.

Don't ever pin too much hope on the RTS, a very good chance that it may will be still born!

 

[Funniman]

Don't ever pin too much hope on the RTS, a very good chance that it may will be still born!

So far most of the noises coming out of Putrajaya is all about HSR.

 

[snowbird]

So far most of the noises coming out of Putrajaya is all about HSR.

All the noises and excitement now coming out of Putrajaya are about mega drama of the century - Dr Mahathir vs Najib !!
Everyday, the former PM is attacking the current PM, listing out all the problems the PM had created and is asking him to step down or resign!
The HSR can now take a back seat.

 

[Vohkster]

All the noises and excitement now coming out of Putrajaya are about mega drama of the century - Dr Mahathir vs Najib !!
Everyday, the former PM is attacking the current PM, listing out all the problems the PM had created and is asking him to step down or resign!
The HSR can now take a back seat.

True. At the rate this 90210 is going , I think the condo owners move in already still won't see any RTS.

 

[enjoylife77]

Seems like the RTS will have to wait for a long time.

 

[Rocka]

Seems like the RTS will have to wait for a long time.

Not a long time. But a very very long long time!!

 

[RedsYNWA]

Not a long time. But a very very long long time!!

I believe 2023 for RTS and 2025 for HSR............ 2025 is the HSR timeline being bandied about in Zaobao......