Friday, January 26, 2007

SEMANTAN AVENUE SUITES: No money, no opening!

Another reader sent in this about their Semantan Avenue Suites at Damansara Heights:

"Hi Wendy,Hope your father is feeling better.

I sympathise with you regarding the payment problems with Meda. As you said, they really live up to their bad reputation. I'm also a supplier and they also owe us a substantial amount. Therefore I support your blog.

I have just been told that their Semantan service apartment project, although completed, is unable to open for business due to their payment problems as well. It seems that they are not able to secure supplies such as furniture and fittings etc for the apartments. The gist of what I hear is that their staff are now in place, incurring monthly wage costs, but they cannot open their doors as their rooms are not supplied.

This project is under another Meda company called Nandex. Nandex is a "shell" company with no assets; if anyone were to sue this company, the creditor get kosong. Many of the contractors involved are signed with Nandex."

Thanks for sending that in, and for your well wishes.

During the construction phase, Meda Inc Bhd owners had to find urgent money to pay their building contractor's progressive payments and there were some work stoppages.

What you mention does not surprise me. It is their Meda Inc Bhd style. Always hutang money everywhere, failing to pay for their goods. Yet they are buying up land and "developing" new projects. Our government should seriously implement a thorough audit of all these companies and implement new laws that protect consumers from becoming victims of such unscrupulous businessmen. Especially important is to audit the auditors' works. That will get all auditors to do their jobs properly and not be afraid of exposing illegal activities by these PLC owners.

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