Tiang: Jln Deshon sick housing project set to be declared abandoned next month
SIBU (July 18): The long-overdue housing development project along Jalan Deshon here is expected to be declared an abandoned project by next month, said State Deputy Minister of Public Health, Housing and Local Government, Datuk Michael Tiang.
Speaking to reporters during a site visit today, he said the project, which commenced in 2012 and was initially slated for completion in 2015, remains only 70 per cent completed after over a decade.
'Due to the delay, many buyers have started filing lawsuits against the developer. In 2022, the company was wound up by the Sibu High Court and placed under the receivership of the Insolvency Department,' he said.
Tiang explained that once the project is gazetted as abandoned under the Housing Development Control Licencing Ordinance 2013, affected buyers would be able to approach their respective banks to apply for interest exemptions.
'This will ease their financial burden, as they will no longer have to service the interest. That is one form of relief we can provide at this stage,' he said.
The Pelawan assemblyman also revealed that discussions are underway with landowners on the next course of action for the stalled development.
'As for the way forward — how to turn the project around — that will be the next step.
'Across Sarawak, we have identified several other similar projects and will gradually visit and assess them for possible declaration as abandoned projects. This is what we mean when developers are no longer in a position to continue their projects,' he added.
Tiang disclosed that the housing development project along Jalan Deshon here will be the first of the sick projects to be declared as abandoned under his tenure as Deputy Minister of Public Health, Housing and Local Government.
The project comprised 80 units of townhouses and 10 units of two-and-a-half storey semi-detached houses, affecting 44 house purchasers.
Earlier, Tiang also visited another sick project at Lorong Salim 28, noting that it was delayed for two years due to the Covid-19 pandemic.
During the inspection, he expressed satisfaction with the progress and quality of the project.
'There are 47 units in Phase 1 and 2. According to the developer, Phase 1 involving 21 units is scheduled to complete by next month, while Phase 2 involving 26 units is expected for completion by year end,' he said.
He added that after the completion of the project, Sibu Municipal Council (SMC) will assist with the occupational permit (OP) for residents to move in.
Furthermore, Tiang also inspected the project at Taman Muhibbah, with 35 units of single-storey terrace houses and 12 single-storey semi-detached houses. abandoned Jalan Deshon Michaeel Tiang sick housing project
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
34 minutes ago
- The Star
Sarawak to kick off reforms to make business registrations quicker, easier, Dr Sim announces
SIBU: The Sarawak government will launch a pilot project aiming to reform the business registration process in the state, beginning August 1, 2025, and until the end of February 2026. The initiative to make business registrations faster and easier will be trialled in the Sibu and Kanowit districts over a six-month period, Deputy Premier Datuk Amar Dr Sim Kui Hian announced. Speaking at a press conference on Monday (July 21), Dr Sim, who is also state Public Health, Housing and Local Government Minister, said the time required to register a business would be reduced from over 60 working days to between 14 and 30 working days. He emphasised that this reform is essential for boosting business activity in Sarawak and positioning the state as a more attractive and investor-friendly destination. The pilot project is intended to help Sarawak maintain its competitiveness as an investment hub, offering administrative efficiency, predictability in processes, and robust government support for the business community. Currently, registering a business in Sarawak involves multiple government departments and agencies — including the Inland Revenue Board (LHDN), district offices, divisional treasury departments, and local authorities — resulting in an often inefficient and time-consuming process, he explained. Under the new initiative, all business registrations — including Business Name Registration, Trade Licence, and Operating Licence applications — will be handled by a single agency: the local authorities in Sibu and Kanowit, through a one-stop facilitation centre. "Applicants will only need to complete a single form that captures all required information for Business Name Registration, Trade Licence, and Operating Licence applications," Dr Sim said. The pilot project targets a processing time of 14 working days — from application to licence collection — for low-risk businesses. 'For businesses requiring only a business name and trade licence, the licence can be collected within five working days,' he added. This timeline, however, applies only to applications that include all the necessary supporting documents and meet the required checklist criteria. Dr Sim also stressed that applications for high-risk businesses — such as those involving the sale of gas, entertainment centres, care centres for the elderly or children, and reflexology centres — will be processed within 30 working days, as these require input from multiple government agencies.
New Straits Times
2 hours ago
- New Straits Times
Pharmaniaga shares soar past 45pc, volume hits two-year high
KUALA LUMPUR: Shares of Pharmaniaga Bhd soared more than 45 per cent in active trade, as buying momentum lifted trading volume to levels not seen in over two years. At 11.54am, the stock was up six sen or 38.71 per cent at 21.5 sen, with 51 million shares changing hands, its busiest day since April 20, 2023. It was the second most actively traded counter at the time. The stock opened 9.68 per cent higher at 17 sen and rose as much as 22.5 sen, up 45.16 per cent from its previous close of 15.5 sen. There have been no fresh corporate announcements aside from the renounceable rights issue of up to 3.52 billion shares announced earlier this month. On July 1, the counter went ex-rights, triggering a technical price adjustment from 23.5 sen on June 30 to 16 sen. Until today's rally, the stock had been trading between 14 sen and 16.5 sen. At 22 sen, it is now edging back toward its pre-rights issue level above 20 sen. Pharmaniaga, once weighed down by a RM552.3 million impairment from unsold Covid-19 vaccines, slipped into Practice Note 17 (PN17) status in February 2023. But the company has since returned to profitability in the financial year ended Dec 31, 2024 (FY24) and expects to stay in the black in FY25. The group is eyeing revenue of RM4 billion this year, up from RM3.8 billion in FY24, a level it last crossed in FY21. Its managing director Zulkifli Jafar has said the company aims to exit PN17 status by the end of this year or early 2026. Pharmaniaga is majority-owned by Boustead Holdings Bhd, which in turn is controlled by Lembaga Tabung Angkatan Tentera (LTAT). According to the latest annual report, LTAT holds a direct 44.47 per cent stake in the company.
The Star
7 hours ago
- The Star
Thailand's condo market plummets to 16-year low
Condominium buildings are seen in Bangkok, Thailand, September 25, 2018. REUTERS/Athit Perawongmetha BANGKOK: Thailand's condominium market has hit a staggering 16-year low, with new launches in Bangkok plummeting to just 373 units in the second quarter of financila year 2025 (2Q25). This dramatic 94.2% contraction from the previous year marks the lowest level since 2009, when the market was only just beginning to recover from the subprime crisis, and is even worse than the slump experienced during the peak of the Covid-19 pandemic. According to Colliers Thailand's Research and Communication Department, the dire figures have forced property developers and analysts to urgently re-evaluate their strategies. 'This is not merely a seasonal slowdown but a clear signal reflecting buyer hesitation and cautious decision-making from developers,' commented Pattarachai Thaweewong, director of research at Colliers International Thailand. He noted that despite a modest recovery in 2022 to 2023, the market has failed to return to its pre-crisis strength. The extent of the current downturn is particularly striking when compared to the typical 2Q25 average of 8,000 to 12,000 new condo launches over the past decade. The sharp contraction in 2025 is attributed to a confluence of economic pressures: >Elevated interest rates are significantly curbing the purchasing power of genuine buyers. >Rising development costs, driven by increases in construction materials and land prices, are squeezing developer margins. >Persistent economic uncertainty and a lack of clear government policy direction are further eroding confidence. Unsurprisingly, many developers have opted to 'delay' new project launches, instead focusing on managing existing inventory and shoring up cash flow. 'Today's silence may become tomorrow's momentum if the timing and conditions are right,' Pattarachai suggested. — The Nation/ANN
