NEWS
NCT Group was successfully named as the White Knight to take on the project after completing an Expression of Interest Exercise on 5 August 2017 with its strong track record and solid financial history . By rehabilitating Malaysia ' s mega-abandoned housing development since 2010 , the NCT Group has paved its way to the top-tier property development market .
NCT Group was responsible for reviving the largest abandoned project in Malaysia located in Bandar Baru Salak Tinggi , where the company aided 713 buyers and the largest abandoned project in Pahang , where 339 buyers were assisted and is now home to the company ' s award-winning hotel in Genting Highlands , Grand Ion Delemen .
NCT Group ’ s Founder and Managing Director , Dato ’ Sri Yap Ngan Choy shared , “ We are excited to be on board this rehabilitation project and to have the chance to do what we do best . I would like to thank the buyers for entrusting us . Today marks a new beginning for all of them .”
With all elements in place , on 7 December 2019 , a scheme to revive and complete Phase 2A & 2B of the project had garnered an overwhelming 96.4 % in support from the buyers attending and voting at the
Court Convened Meeting under Section 366 of the Companies Act 2016 . In this scheme , the buyers will be able to continue with their purchase with an additional contribution sum to obtain the individual title for their plot in a ready to build condition .
Alternatively , buyers who wish to exit the purchase will receive a refund of 100 % amount paid to the Company for their purchase .
Today , we see the first stage of the scheme rolled out in success , giving majority of the buyer ’ s closure to a seventeen year old heartache and misgivings . In the coming months , the remaining buyers will be in anticipation of the second stage where the revival plan is due to be revealed , giving a glimpse into the next 4 years when the project is due to complete .
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Property360Digest e-magazine Issue # 8 - 2021