KUCHING: Sentoria Borneo Land Sdn Bhd, the private developer of the Borneo Samariang Garden, had appointed a new main contractor to complete Phase 5 of the housing project
Deputy Premier Datuk Seri Dr Sim Kui Hian said the Sarawak Government, through its multi government agencies including his Public Health, Housing and Local Government Ministry, Land and Survey Department, Sarawak Planning Authority, and Sarawak Attorney General Chamber among others, are ready to facilitate the private developer in completing the housing project.
This was to ensure that the respective house buyers will be able to receive their property at the soonest.
He said the latest facilitation that has been rendered by his ministry to the private housing developer of Borneo Samariang Garden was to ensure its application for re-planning of the said project will be given due consideration and approval from State Planning Authority (SPA).
The relocation, he said, would result in the transferring of 275 units of Rumah SPEKTRA Medium 2 (RSM 2) at Block 5 to Block 18 (c), helping the developer through a substantial infrastructure cost reduction, improving their cash flow.
“My ministry has managed to secure the undertaking from this private housing developer that the relocation of the site will not affect the house purchaser’s right for the liquidated ascertained damages (LAD) for the late delivery of their houses,” he said when delivering his ministerial winding up speech at the State Legislative Assembly (DUN) today (Nov 30).
With regard to the appeal from the purchasers for the state government to negotiate with Public Sector Housing Financing Board (LPPSA) and the Borneo Mortgage Financial Berhad on their loan payment, Sim said, the matter has been resolved a few months ago.
His ministry had organised a special meeting with the two financial institutions in June where two financial institutions had agreed to offer three options to the respective loanees; including a loan moratorium for a period of six months to 12 months.
The moratorium application will be closed on December 31, this year.
Meanwhile, the second option was a loan restructuring for a maximum period of two years or until the completion of the housing project and the third option offered by LPPSA is to cancel the loan. The details of all these options are available to all the affected house buyers from their respective financial institutions.