1. It has been quite a while since the latest update. I have been traveling due to work commitment. Today I had a tele-conference with En Nik, the RSS consultant. The following is the outcome of the discussion with RSS consultant today (14 march 2009)
a. Overall Matters
Discussion between the state appointed consultant and the various other investors and Intelbest is moving smoothly. I would say that am quite happy at the rate of progress made so far.
b. The discussion between all relevant parties has been concluded for the low cost units (both the 146 and the 256 block), block A, block F and block B,C and D will be finalize in 3 weeks. There is strong possibility, issues that is related to PKS/PKSR can be finalized in 4 weeks.
c. For clarity, please understand that the deal that is being worked out by RSS consultant and Intelbest involving Intelbest paying the consultant and the appointed contractors via unsold properties as well as land bank within the Intelbest.
d. The committee is planning to get LAD paid in the form of land or building by Intelbest. This is being discussed. The details mechanism involving all purchasers will be advice later. Rest assured, it is the intention of the committee to get every single cent due to property owners either in the form of cash or property.
e. The specific progress report for the respective block is as follows:
i. Low cost 146 and 256
1. Work is progressing at site of the 146 block. At the 256 block cleaning works has started. It is expected that work will commence at 256 unit.
ii. PKS/PKSR block
1. Negotiation is on going with Intelbest and another potential investor to buy back the units from the owners of PKSR and PKS.
2. The committee has reminded RSS consultant that under no circumstances this buy back is to be done by Tan Sri Chan Ah Chye or its cronies
iii. Block A
1. Details of discussion completed. Work expected to start on the 20th March 2009
iv. Block B,C and D
1. Discussion is still going on with 2 investors and expected to complete within 3 weeks
v. Block F
1. Details has been finalize. Work expected to comment with Block F by end March\
For PHUKB committee