Recently listed, Radium has informed the Exchange that its 80% owned Vistarena Development Sdn. Bhd. which developed The Residensi Platinum OUG been served with a Writ of Summons and Statement of Claim from 241 individual purchasers of the said property.
The property comprises a combined development of condominiums, affordable housing, and civil servants housing under
the same development order. This comes about after a meeting was held between representatives and no amicable resolution was derived with regard to the complaints by the residents on the matters relating to the entrance and defects.
On 1 June 2023, the Plaintiffs, owners of units in Block B, filed the Suit against the Defendant. They claim they were misled by the Defendant’s representations about the purchase of the Property, specifically the separate entrances between Block A and Block B, which justified a significant price difference.
The Plaintiffs also allege severe defects in the common facilities provided by the developer. Although some rectification work has been done, the developer has not completed or rectified the access card facilities or established access control in a shared common area. Despite notifying multiple times about safety-related defects, no action has been taken, and the lack of access separation and clear signage between Block A and Block B is impacting Block B residents’ financial prospects.
Residents said they are concerned about the potential for a future management corporation to reallocate rights to use common facilities, disadvantaging Block B residents. Hence, they have alleged the value of Block B has declined, and the developer has not taken responsibility.
The Plaintiffs are seeking the Court orders, injunctions, and judgments as follows:
(a) A declaration that the Defendant has conducted in misrepresentation and breach of contract towards the Plaintiffs in the process of selling the Property to the Plaintiffs;
(b) An injunction against the Defendant to take all necessary and reasonable steps to establish two (2) access paths at the entrance to Block A and Block B within a period of three (3) months from the date of judgment/order;
(c) A judgment that the Defendant rectifies all listed safety-related defects, and the rectification works are to be completed to the satisfaction of the Plaintiffs’ representative within a period of three (3) months from the date of judgment or order, with costs borne solely by the Defendant;
(d) An order for general damages to be assessed by the Honourable Court;
(e) Exemplary damages amounting to RM25,000.00 to be paid to each Plaintiff within seven (7) days from the date of judgment/order;
(f) Costs;
(g) 5% interest on the judgment awarded by the Honourable Court from the date of filing the Suit until full settlement;
(h) Such other orders, reliefs, and directions deemed just and appropriate by the Honourable Court.
The Suit is now fixed for its first case management on 3 July 2023.
