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News40 Talam housing projects categorised 'sick'
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40 Talam housing projects categorised 'sick'
by hlk Wed 29 Jun 2011, 21:55
The National Housing Department has categorised 40 housing projects under Talam Corp Bhd and the Ukay Bistari project by Intelbest Corp Sdn Bhd as "sick projects".
In a statement today, the Housing and Local Government Ministry said the projects had been identified having problems since 2006.
To date, some projects under Talam and Intelbest Corp still failed to be completed although the date for completion in the sale and purchase agreement had passed, it said.
It said that based on reports and investigations carried out, the delay to complete the projects were due to management and financial problems faced by the developers.
"The ministry, through the National Housing Department, will constantly monitor licensed development projects in line with the Housing Development (Control and Licensing) Act 1966," it said. -- Bernama
In a statement today, the Housing and Local Government Ministry said the projects had been identified having problems since 2006.
To date, some projects under Talam and Intelbest Corp still failed to be completed although the date for completion in the sale and purchase agreement had passed, it said.
It said that based on reports and investigations carried out, the delay to complete the projects were due to management and financial problems faced by the developers.
"The ministry, through the National Housing Department, will constantly monitor licensed development projects in line with the Housing Development (Control and Licensing) Act 1966," it said. -- Bernama
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