Group glad SUDC set firm Star City rescue bid

KOTA KINABALU: Members of the Star City Buyers Association (Pekestar) hoped that after nearly 15 years, their stress of striving to get back their investments in the abandoned Star City Mall will be realised soon.

Some buyers of Star City recalled having signed their sales and purchase agreements during 2006 to 2007 and the project should have been completed in 36 months back in 2009 to 2010, but was left in limbo until today.

Pekestar Chairman Philip Liew echoed this sentiment as most had given up hope of ever getting their shoplots built and delivered to them for business or to be rented out considering two rescue attempts by Sabah Urban Development Corporation (SUDC) and “white knights” failed.

“Most of the buyers are finding it difficult to continue servicing their loan. It is sadder to know that some buyers have exhausted their life savings by investing into this project,” he said.

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Liew said most buyers had the confidence to invest in the project mainly because SUDC was the land owner and a joint venture (JV) partner, being a State government agency under the Sabah Economic Development Corporation (Sedco) Group.

This year, with the involvement of a China-linked company keen to redevelop Star City Mall site into a city tourism landmark, it was good news for the attendees at the 8th Pekestar AGM held at the Kota Kinabalu Chinese Chamber of Commerce and Industry auditorium recently.

Meanwhile one of the “White Knights” wished to state that the onus to settle the RM18 million tax due to the Inland Revenue Board (IRB) lies with SUDC. The facts remain correct in the Daily Express report, as it was never stated that Petrofiq Sdn Bhd has to pay the tax to the IRB.

Pekestar said the abandoned project was now a glaring eyesore in the Central Business District (CBD) of the state capital and a blight on Kota Kinabalu’s reputation and appearance as a green and beautiful liveable place.

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Liew, and deputy president, Yee That Hian, briefed its over 200 members of the latest development on the commercial project with key personnel from SUDC explaining the negotiation process that was undertaken for the buyers’ interests.

As tourism is fast becoming a prime industry for the state, the presence of the abandoned project doesn’t augur well in putting Sabah on the world tourism map.

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