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$LAGENDA (7179.MY)$ guys, just to share info ya. Even if Lag...
$LAGENDA (7179.MY)$ guys, just to share info ya. Even if Lagenda says they are not affected, the truth is that those owners that have bought over the Malay reserve land in Sitiawan have band together to sue Lagenda. 600 over acers. Can you imagine the financial impact.
all those land parcels have been caveted by the land office now. Forcing the owners to sue Lagenda.
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Momojojojo : How much is lagenda willing to pay the fine to replace the Malay reserve land ? Land already sold most likely compensate back monetary or replacement lot ?
NewKidOnTheBlock OP Momojojojo : nope. gov already cavet the sold land. purchaser cannot transfer it out now. their response is to sue Lagenda. that's how all this come to light. 1 acer was sold for RM350k back then. 600acers x RM350 +10% inflation over the past 10 yrs = Around RM230mil. this is around 25% of Lagenda market value d.
this one haven't yet calculated the fine/ penalty that the gov will enforce.
that's why I say ppl that still dare to buy in this counter now either are naive or have balls of steel.
Zack The Ripper : how do you get this info? cannot find in google
Momojojojo : Hmm. Is it a normal practice for Land office to place a caveat on ongoing land matter ? The financial impact would be a provision for material litigation ?
NewKidOnTheBlock OP Zack The Ripper : Because I'm from Sitiawan bro. Everyone already knows this case for a few years d. as for the purchase land value and gov cavet, if u want to know, go dig around Sitiawan a bit.
NewKidOnTheBlock OP Momojojojo : land office cavet are the rarest of 3 types of cavets. once enter they last a lifetime unless removed. this one is already done. the land grants in question now all already have land office cavet.
Zack The Ripper NewKidOnTheBlock OP : wow. thanks for the info bro
Momojojojo NewKidOnTheBlock OP : I see. So they might need to switch and utilize Epicon for their future projects moving forward ?
NewKidOnTheBlock OP Momojojojo : in honestly, this MD's family has more than 30 shadow companies set up. they most possibly will just use another proxy. Sdn BHD ma. liability limited to the company only.
Momojojojo : Projects in sitiawan is booked under Lagenda and its subsidiary ? Or another separate vehicle? They company seem to be not bothered with the Malay reserve land issue. They didn’t even address the issue
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