Thursday, December 20, 2007

MEDA INC BHD INVOLVE IN CHEATING/FRAUD!!

Meda Inc Bhd took loan on shoplot unit that belongs to another owner

I have not blogged for quite sometime, and have not decided whether to keep this blog or take it down. Recently I received a lot of emails keeping me updated at what's happening at Meda Inc Bhd and their sister companies. Although my company this year has received partial payment of what Meda owed us, I think I shall do a public service for everyone, so I shall keep this blog up for the time being.

Another gentleman, Mr Norman Chia, is extremely angry at Meda Inc Bhd. He decided to write in and go public with his experience. Below I reproduce the full text of his mail:



A facsimile from

Norman Chia Ferng Ji
(Mr Chia gave his mobile number for the public to call him for verification but I decide not to disclose it here)

To: Wilbert Goh/Jenny Lim Fax number: (03) 8024 8966 (fax number of Meda Inc Bhd)

Date: 20-Dec-07

Regarding: News for Your Business/Consumer Section: Proof that Meda Inc Bhd is Scandalizing its Property Buyers!


Comments: I WILL BE FAXING THIS STORY TO ALL THE NEWSPAPERS TODAY IF I DO NOT HEAR FROM MR. WILBERT GOH WITH A SOLUTION BY NOON. THE REPORTERS ARE WAITING FOR OUR STORY.


"Dear Editor,

Greetings. As mentioned over the telephone, I, of the above name, am a seasoned real estate investor. For all the real estate transactions that I have completed for the past 7 years, the one I am currently involved in, is so immoral and illegal, and involves a high profile corporation - Meda Inc Bhd, that I feel that the public should be made aware of it before doing any further business with this company and its affiliates. For the record, my solicitors and I have all the legal documents to substantial everything I am reporting here.

This is how the story goes. I decided to purchase a shopping centre lot in The Summit Shopping Centre on 20th December 2006 (attached copy of SPA). The seller was Hexaland Sdn Bhd. The agreed purchase price for the lot was RM220,000. After the agreement was signed, deposit being paid, my solicitors went ahead to complete the necessary legal paperwork to complete the transaction. So far so good.

However, in 29th May 2007, my solicitors conducted a land search on the master title on which the shop lot is erected and the search result reveals that there is a charge created by Meda Development Sdn Bhd (the developer of The Summit Shopping Centre) in favour of Arab Malaysia Merchant Bank Berhad (copy of charge attached) for a whopping amount of RM220, 000. In other words, the developer – Meda Development Sdn Bhd - charged that particular shopping lot to AmInvestment Bank and secured a loan of RM220,000 – without the seller knowing about it! This means the seller, in this case, Hexaland Sdn Bhd, is unable to sell this property to me because the developer owes money on his property. Our solicitor advised us that unless the developer settles this loan completely, this property cannot be transferred to my name, or anybody’s name for that matter. Our solicitor also informed us that the developer was able to secure this loan because Hexaland Sdn Bhd purchased this property with cash (no mortgage charged), hence fooling AmInvestment Bank into thinking that this property is unsold.

After six months of chasing, the developer till to date has refused to do the right thing and settle the loan they had no right to secure at the first place. Their manager, Mr. Wilbert Goh, gave one false promise after another that this issue will be solved. When threatened with legal action, their response is simply “go ahead”.

The seller and I will have no choice but to bring this matter to court. We have given Meda Development Sdn Bhd ample time (6 months) to do the right thing. It has been almost 12 months since we signed the SPA. Justice must be served. What other choice are we left with? However, I just want the public to be aware of the business practices of Meda Inc Bhd, especially its property arm. They are launching several residential projects for sale in Subang and I am genuinely worried for the thousands of home buyers/investors that have been dealing with them. I sincerely hope this sharing will open up the eyes of the public to this shocking and irresponsible corporate behaviour. I also applaud your newspaper for showing such interest in our story and doing a service for our community.

Please feel free to contact me at the above number. If you wish to contact the seller, Hexaland Sdn Bhd, to get their perspective on this transaction, the director is Mr. Her (012 221 6633).

Thank You. "



Wendy says: Mr Chia, my best wishes to you. The holiday season is here, hope MEDA INC BHD will settle this matter with you soon. But I'm not optimistic. The owners and management of Meda are scumbags without a single bone of integrity or honesty.

Please do keep us updated of the progress of your legal action. And if you wish for me to take down this post, please do let me know also.

2 comments:

Anonymous said...

If you look at the management, based on their status and their prominant cars, they look like respectable businessman but when you get to know them better, they have the same traits as a conman or crooks. You can never trust them, they will screw you whenever you can and so called " teach you a lesson". I think you should have the right facts from the inner circle.

1. Currently the management team only comprise of a HR Manager and a legal advisor. By the way, Wilbert and Jenny Lim has left.
They are going to put in a puppet by the name of Robert You as a CEO from Andaman Properties. What could be the future for Meda? The money from the sale is not forthcoming and they are struggling to pay salaries.

2. They continue to con suppliers by ordering goods and not paying for it. This runs into hundreds of suppliers.

3.Meda's project Nusa Dusun is another con job, promises to grow fruit trees for the customers but it is never going to happen as the land of which they know earlier and yet launch is not fertile. Pure con job.

Their other project Kota Malim looks like an abandon project with abandoned structures and road full of holes.

3. Many of the property buyers are unable to receive their individual title because the proceeds from their sales is not channel to redeem the bridging loan. Without this the customers would be struck.

4. Those who opt for Guarantee Rental Returns for their properties are unlikely to receive it as there is no money in their coffer especially the Semantan Avenue which has a huge amount of RM400k for each quarter.

5. Agents who acted on their behalf have yet to receive their commissiom although their sales were 1 year ago.

6. There is a huge turnover of accountants/ internal auditors/ external auditors. Rumours of false invoices is every where. The internal auditors don't last 6 months.


So Beware Let this be a Corporate Lesson to all of us. Just like the old joke don't even trust your father. Look befor you Jump!!!!!!!!!!!

Anonymous said...

If you look at the management, based on their status and their prominant cars, they look like respectable businessman but when you get to know them better, they have the same traits as a conman or crooks. You can never trust them, they will screw you whenever you can and so called " teach you a lesson". I think you should have the right facts from the inner circle.

1. Currently the management team only comprise of a HR Manager and a legal advisor. By the way, Wilbert and Jenny Lim has left.
They are going to put in a puppet by the name of Robert You as a CEO from Andaman Properties. What could be the future for Meda? The money from the sale is not forthcoming and they are struggling to pay salaries.

2. They continue to con suppliers by ordering goods and not paying for it. This runs into hundreds of suppliers.

3.Meda's project Nusa Dusun is another con job, promises to grow fruit trees for the customers but it is never going to happen as the land of which they know earlier and yet launch is not fertile. Pure con job.

Their other project Kota Malim looks like an abandon project with abandoned structures and road full of holes.

3. Many of the property buyers are unable to receive their individual title because the proceeds from their sales is not channel to redeem the bridging loan. Without this the customers would be struck.

4. Those who opt for Guarantee Rental Returns for their properties are unlikely to receive it as there is no money in their coffer especially the Semantan Avenue which has a huge amount of RM400k for each quarter.

5. Agents who acted on their behalf have yet to receive their commissiom although their sales were 1 year ago.

6. There is a huge turnover of accountants/ internal auditors/ external auditors. Rumours of false invoices is every where. The internal auditors don't last 6 months.


So Beware Let this be a Corporate Lesson to all of us. Just like the old joke don't even trust your father. Look befor you Jump!!!!!!!!!!!