Friday, March 27, 2009

Update on P11 Progress – 26 March 2009

Update on P11 – 26 March 2009

1. The new SPA is still being finalized by all the parties namely PJH ( Putrajaya Homes ), KPKT, CIMB , ACSB and of course our lawyer, Zainal Abidin & Co.

All major issues are settled and agreed upon. Whats left are only the final wordings to the clauses as all the parties are very particular as to protect their interests.

PJH is still waiting for the approval of the final draft from the KPKT.

2. PJH have already sent out letters to the financiers of the buyers

( beginning with Garden Resorts Homes ) to inform them of the latest

state and what commitments are expected from them and the buyers. A meeting between the financiers and PJH is scheduled to be held on Wed. 1st,April 09.

3. PJH is supposed to organize a meeting with the buyers to brief the buyers on this. We should be hearing from them soon.



Regards

Dr Onny,

Chaiman Protem Comm.