UOB's $181m suit over 'inflated housing loans'

[numero uno]

This will not work. I know lawsuits have been launched in other instances before when the developer drastically reduces its price. But in almost all cases, hard to win for the class action plaintiffs. The simple reason is that the developer is under no legal obligation to the previous buyers to keep the price at the level they bought. In fact, the market changed so much in Sentosa Cove that prior owners are lucky that Lippo did not out and out cut the price by 30% but instead tried to hide it via "furniture discounts". No judge will give the right to dictate prices to a developer from a bunch of prior buyers.

hahha. he obviously never heard of caveat emptor law. inside sources told me that at least 30% of all transaction in sentosa and about 20% of all condo in orchard are bought by foreigners using these dirty tactics to get easy loans and default if market tank. either way it is win-win for developer and buyer BUT big lose-lose for the banks. where do you think these assholes got the idea from? obviously indonesians chinese crooks who have been doing it since 1990s and THAT'S WHY this is the PRIMARY FACTOR that CAUSED THE ASIAN FINANCIAL FIASCO crash that still is not solved today and the effect was felt for 10 years resulting in suharto downfall!!!! so much that the garmen have to bail the 20 bankrupt banks out!!!!!when the money was given to the banks, the bankers also decide to get greedy and ran off with the money of which a substantial portion was parked in sinkieland. the sinkie garmen knew about it late and also know it could result in their own downfall ala suharto and immediately start the cooling measures as it was getting out of control. either way it was heading for a collapse either a huge 70-80% crash like in US and europe or to slowly lett it crash so that the pain is not so acute. The property agents are the crooks here with the developers to hide the discount. everybody know when furniture dicounts are given it is usually only like $10-20 K. No developer give a few million dollar furniture discount that amount to 20-25% of price so the developer here is bullsh!tting and playing with words. alot of inside stories about the indon developers and their dirty tactics in malaysia , HK and even US!!!!

 

[eatshitndie]

million-$ antique furniture from the napoleonic era that be auctioned to the riady's for "furniture discounts" on home purchases. :p

 

[eatshitndie]

this bedroom set is a replica of an antique set, but it's worth at least tens of thousands. :p

 

[eatshitndie]

this one takes the cake. it was given to my neighbor as a "furniture discount" by an indon chink who sold his house and moved to the fremont hills. :p

 

[CoffeeAhSoh]

This case is classic example of 强盗遇到贼
Robber encounter thief

$


agreed . one big Wayang show.

 

[Papsmearer]

hahha. he obviously never heard of caveat emptor law. inside sources told me that at least 30% of all transaction in sentosa and about 20% of all condo in orchard are bought by foreigners using these dirty tactics to get easy loans and default if market tank. either way it is win-win for developer and buyer BUT big lose-lose for the banks. where do you think these assholes got the idea from? obviously indonesians chinese crooks who have been doing it since 1990s and THAT'S WHY this is the PRIMARY FACTOR that CAUSED THE ASIAN FINANCIAL FIASCO crash that still is not solved today and the effect was felt for 10 years resulting in suharto downfall!!!! so much that the garmen have to bail the 20 bankrupt banks out!!!!!when the money was given to the banks, the bankers also decide to get greedy and ran off with the money of which a substantial portion was parked in sinkieland. the sinkie garmen knew about it late and also know it could result in their own downfall ala suharto and immediately start the cooling measures as it was getting out of control. either way it was heading for a collapse either a huge 70-80% crash like in US and europe or to slowly lett it crash so that the pain is not so acute. The property agents are the crooks here with the developers to hide the discount. everybody know when furniture dicounts are given it is usually only like $10-20 K. No developer give a few million dollar furniture discount that amount to 20-25% of price so the developer here is bullsh!tting and playing with words. alot of inside stories about the indon developers and their dirty tactics in malaysia , HK and even US!!!!

The fault is not entirely with developers and buyers. You have to always follow the money in this cases, and the money only comes from the banks. They have the money to give for the mortgage, therefore, they have all the power. The bank can point blank make the customers sign a declaration that they are not receiving any discounts in any shape or form from the developers. But how many do it? They need to do their own credit check and income verification, as well as use truly independent property valuators who are bonded. Obviously they do not. Some bank employees collect kickbacks to push the application thru, but that's where you have an independent credit function at the bank to assess all loans. Banks don't do enough of that.

 

[CoffeeAhSoh]

Door now officially open at 247 Whitley Road. CPIB new corruption reporting centre.

 

[Papsmearer]

Door now officially open at 247 Whitley Road. CPIB new corruption reporting centre.

Friend, now can go online lah. Go all the way to whitley road for what?

https://www.cpib.gov.sg/complaint

 

[krafty]

in OZ, you can buy plots of land for one-fifth down-payment, a friend bought 3 plots, residential development for about 80k. in five years time, if OZ property can maintain, he will make if not he is going to be declared bankrupt. in HK, they are also doing it. you have to be sharp and good in your prediction. but for me, i never trust the developers cos' they are the one who do the calculation on the pricing, i bet they already know before hand how much the land is worth in few years time.

 

[CoffeeAhSoh]

Anyone here dealt with Patrick Liew before ?
Recently, he gave a mesmerizing talk at
GoldBell Towers, selling his training course
that it is still possible to buy property
for "Zero money".

Patrick Liew

 

[CoffeeAhSoh]

Friend, now can go online lah. Go all the way to whitley road for what?

https://www.cpib.gov.sg/complaint

tks for info :p

 

[Papsmearer]

Anyone here dealt with Patrick Liew before ?
Recently, he gave a mesmerizing talk at
GoldBell Towers, selling his training course
that it is still possible to buy property
for "Zero money".

All these people make me laugh. If you found a secret way to buy property with zero money, you sure as hell would not be sharing the info with other people. You will be doing it yourself and making millions $

 

[Narong Wongwan]

All these people make me laugh. If you found a secret way to buy property with zero money, you sure as hell would not be sharing the info with other people. You will be doing it yourself and making millions $

Yes this one same same the 'master' who selling his 100% accurate 4D prediction kit.....
Or those investment 'guru' giving seminars on how to make money from stock market

 

[GoldenDragon]

All these people make me laugh. If you found a secret way to buy property with zero money, you sure as hell would not be sharing the info with other people. You will be doing it yourself and making millions $

Agree. It is identical with soccer and horse racing fixers. These million dollar deals will never be shared unless you have a role to play in the fixing of games or horse races. To these chaps, such manipulation is just business as there are risks involved too. Similar to legit businesses.

 

[GoldenDragon]

Door now officially open at 247 Whitley Road. CPIB new corruption reporting centre.

CPIB is at Lengkok Bahru not Whitley Rd.

 

[SarahPeiLing]

All these people make me laugh. If you found a secret way to buy property with zero money, you sure as hell would not be sharing the info with other people. You will be doing it yourself and making millions $

If something is too good to be true, it definitely is. When land banking was first brought to Singapore, insurance agents quickly marketed the scheme as a guaranteed retirement plan, even a children's education policy. If it was really so good, the Canadian institutional investors would have mopped it up long before the project ever got re-assigned to the retail marketing department. Nobody markets to the retail public unless the institutional chaps have no interest. The risk was that the land would not be developed as promised, and that risk was not disclosed. Wealth is temporary; stupidity is permanent.

 

[Papsmearer]

If something is too good to be true, it definitely is. When land banking was first brought to Singapore, insurance agents quickly marketed the scheme as a guaranteed retirement plan, even a children's education policy. If it was really so good, the Canadian institutional investors would have mopped it up long before the project ever got re-assigned to the retail marketing department. Nobody markets to the retail public unless the institutional chaps have no interest. The risk was that the land would not be developed as promised, and that risk was not disclosed. Wealth is temporary; stupidity is permanent.

Like they say, there is always a sucker born every minute. I personally have never paid for such a course be it real estate or stock. I do ok. I have never had anyone come to me either that said the course was fantastic and they became a millionaire out of it. All testimonials have come from the people selling these courses. To me, these are borderline scams.

 

[stingray]

similar things happen in hawker center.

many people let their names to be used by china PRC.
License owner is singaporeans but PRC are using their name to get license and operate the hawker centers

Using tua pek kong in sinkie land is as common as the pinoys seen roaming the streets in the country ... everyone is aware of tua pek kong but the paps are oblivious to these fall guys fronting every business from hawkers stalls to the big companies .. huat ah

 

[CoffeeAhSoh]

hahha. he obviously never heard of caveat emptor law. inside sources told me that at least 30% of all transaction in sentosa and about 20% of all condo in orchard are bought by foreigners using these dirty tactics to get easy loans and default if market tank. either way it is win-win for developer and buyer BUT big lose-lose for the banks. where do you think these assholes got the idea from? obviously indonesians chinese crooks who have been doing it since 1990s and THAT'S WHY this is the PRIMARY FACTOR that CAUSED THE ASIAN FINANCIAL FIASCO crash that still is not solved today and the effect was felt for 10 years resulting in suharto downfall!!!! so much that the garmen have to bail the 20 bankrupt banks out!!!!!when the money was given to the banks, the bankers also decide to get greedy and ran off with the money of which a substantial portion was parked in sinkieland. the sinkie garmen knew about it late and also know it could result in their own downfall ala suharto and immediately start the cooling measures as it was getting out of control. either way it was heading for a collapse either a huge 70-80% crash like in US and europe or to slowly lett it crash so that the pain is not so acute. The property agents are the crooks here with the developers to hide the discount. everybody know when furniture dicounts are given it is usually only like $10-20 K. No developer give a few million dollar furniture discount that amount to 20-25% of price so the developer here is bullsh!tting and playing with words. alot of inside stories about the indon developers and their dirty tactics in malaysia , HK and even US!!!!

Best said. This is. A more likely scenarios. More like a warning to guilty ones.

 

[numero uno]

hahhaha. exactly 1 year ago I predicted a 30-50% crash in high properties in sentosa and orchard road in this forum and the 3 stooges laughed at me. Now I am having the best and last laugh. Spot on prediction like alot of my past prediction about STI tanking etc. stupid of them to ignore my advice. they could have make a big bundle. now they are all so quiet esp about their stupid predictions that I would be caught wrong. how wrong and stupid they are. Only stupid people laugh at insider info. those 3 stooges must be having cursing their luck and deep regrets by now. too late to offload and interest artes are going to jump up. hahahhaha