Yup. those who read the latest news yesterday.
The New Paper - 06 Mar 2004
THE OFF-BATAM CLUB THAT NEVER GOT BUILT
First money, now people gone... like magic
By Arul John
HE eager civil servant thought it was a good deal.
For around $3,800, Mr Edmund Chua, 28, could join a country club
near Singapore with its own marina.
As he dreamt of owning his own yacht someday, he thought the
proposed PT Magic Kingdom Island Resort Paradise (PTP) would be
perfect for him and his homemaker wife.
But his dream club on an island near Batam never
materialised.
The developers, PT Magic Kingdom (PTM), dropped the project, he
learnt last year.
By then he had already paid more than $3,000 in instalments.
He has little hope of getting his money back as the firm that
promoted PTP is nearly bankrupt.
HE DIDN'T TELL HIS WIFE
Mr Chua's wife of three years does not know of his predicament and
he is the sole breadwinner earning $3,000 a month.
He did not tell her about the club, hoping to surprise her by
taking her there one day.
He learnt about the club in October 2001 at a roadshow in Suntec
City. The club was to have its own golf course, shopping mall,
sea-sports club and jackpot rooms.
Besides the $3,800 membership fee, he only had to pay a monthly
subscription of $15.
In November 2001, he signed up as a member, paid $400 up front and
had the balance deducted in monthly instalments of $170 payable to
PTP through his credit card. Every month, he received receipts from
NOP Investments (NOPI), the club's marketing agents, for the
deductions.
But last June, he checked his credit card statement and found no
deductions made since April 2003.
He called NOPI and was told the project had stopped development
since May 2003. He was then given an appointment to meet one of
NOPI's managers, Mr Bob Lim.
He said: 'In June or July last year, I and about four other members
met Mr Lim and his secretary, Ms Jenny Chan, at an office opposite
Lau Pa Sat. He said the PTP project failed because of the poor
world financial situation since Sep 11, 2001, the Bali bombings on
Oct 12, 2002 and the Sars outbreak last year.
'When another member asked why the members were not informed of
these problems earlier, Mr Lim said NOPI did not do so for fear of
a panic and because they wanted to wait for the audit results
before making an official announcement.'
When Mr Chua, who paid $3,120 for the club membership, called Mr
Lim last November, he was told the audit was still on.
NO MORE WORD FROM NOPI
Mr Chua said he had called Mr Lim and Ms Chan at least 10 more
times but could never get through.In late January, he went to the
Consumers Association of Singapore (Case) for help to recover his
money, but was told his chances were slim as NOPI had filed for
insolvency.
He was advised to make a claim through the Small Claims Tribunal
(SCT), but has not yet done so because of his work schedule.
He said one of the four other members went to see the police but
was told it was a civil matter and referred to Case instead.
Construction firm director Don Ang, in his 40s, would only say he
had paid 'not much' for the club membership so far. A friend is
trying to help him get his money back.
Mr Chua still dreams of a place to berth his dream yacht and
practise his golf swing.
'But this time, I will make sure the club is up and running before
I buy a membership.'
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CLUB WOES
About 1,000 Singaporeans paid about $3,800 each in 2001 to join the
club, according to
The Straits Times. The club was supposed to be built on Rempang, an
Indonesian island linked to Batam by a bridge, and start operations
last July.
But NOP Investments (NOPI), the marketing agents appointed by the
Indonesian developers, called off the project last May.
A Case spokesman said seven investors had complained to them so
far. He added it would be hard for them to get back their money
since NOPI had filed for insolvency.
When contacted by The New Paper, Mr Bob Lim of NOPI declined to
comment.
Copyright © 2004 Singapore Press Holdings Ltd. All rights
reserved.
