THE state government has taken proactive steps to revive two long-stalled affordable housing projects, namely Rumah MutiaraKu (RMKu) Pangsapuri Sri Bayu and RMKu Pangsapuri Quinton.
As part of these efforts, a memorandum of understanding (MoU) was signed between Mah Sing Group and Baker Tilly Malaysia at Komtar today, formalising collaboration to complete the projects.
Chief Minister Chow Kon Yeow said the initiative reflects the state government’s strong commitment to ensuring the projects are completed for the benefit of buyers.
He added that the state takes the issue of long-stalled projects under the Ministry of Housing and Local Government (KPKT) very seriously, particularly those delayed by more than 30 per cent or where the Sale and Purchase Agreement (SPA) has expired.
“In Penang, for example, Pangsapuri Sri Bayu and Pangsapuri Quinton, both located in the Southwest District, have been classified as long-stalled projects.
“Nearly all units in both projects had been offered to eligible buyers, with SPAs signed in October and November 2017, meaning it has been more than eight years since then.
“The prolonged delay has placed a significant burden on buyers, including housing loan interest payments, temporary accommodation costs, and uncertainty over project completion dates.
“To address these challenges, the State Housing and Environment Committee chairman, Datuk Seri Sundarajoo Somu, stepped in to assess how the state government could assist in coordinating the revival efforts,” Chow said at the ceremony.
Chow said that, although the issue falls under the responsibility of KPKT and may have its own mechanisms to address the issue, the state government sees it as its responsibility to assist in resolving the matter.
“That is why we are here to witness the efforts undertaken by Datuk Seri Sundarajoo and the relevant agencies.
“Following the assessment, Mah Sing Group Berhad has been appointed as the financier, while Baker Tilly Insolvency PLT has been appointed by the court as liquidator to ensure that both revival projects are completed in an orderly and systematic manner,” he said.
The MoU was signed by Mah Sing Group chief executive officer and executive director Datuk Voon Yin Yow, and Baker Tilly Malaysia group managing partner Andrew Heng, with Chow and Sundarajoo witnessing the ceremony.
Meanwhile, Sundarajoo noted that financial constraints faced by the previous developer were among the key factors preventing the completion of the Pangsapuri Sri Bayu and Pangsapuri Quinton projects.
Sundarajoo, who is also the Perai assemblyman, shared that the projects consist of 625 residential units.
“One of the projects is about 60 per cent complete, while the other is around 80 per cent, based on external observations.
“Restoring both projects will be challenging, due to extensive internal damage from theft and vandalism.
“We aim to complete one of the projects by June or July, and the other is expected to be finished by the end of this year. I would like to thank the chief minister for his cooperation in addressing this issue,” he added.
Story by Tanushalini Moroter
Pix by Muhammad Iqbal Hamdan
Video by Siti Nuratikah Rahmat