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Kota Kinabalu: The problematic Pacific Heights project in Likas Bay has been taken over by the Insolvency Department. 

This follows the State Local Government and Housing Ministry officially declaring the development as an abandoned project on May 2, 2024.

A senior officer of the department’s liquidation unit, Sairah Yahya, recently held a meeting with Local Government and Housing Ministry Deputy Permanent Secretary Stanley Chong. 

Also present were representatives from the State Attorney-General’s Chamber and the PacifiCity Project Purchasers Welfare Association (P3WA), including Dato’ Seri Winston Liaw, Datuk Yeo Boon Hai, Datuk Bolkiah Ismail and Dr Constance Liew.

Pacific Heights

The meeting discussed strategies to rescue the abandoned project. 

“The department will initiate procedures to collect all creditor information and search for a ‘White Knight’,” said Sairah. 

She said the department would conduct a preliminary inspection of the construction site and post a notice to seal the premises.

Sairah said while the department would strive to resolve the issue as quickly as possible, the timeline is uncertain. 

Some cases can be resolved in months, while others may take years. 

She urged all relevant creditors to contact the Insolvency Department promptly and submit the necessary information to expedite action.

She added that the RM9.35 million bank guarantee for the condo will be used to complete the project and not to settle creditor claims.

Regarding the buyers’ proposal to use the condominium’s bank deposit money to hire security guards for the site, the Attorney-General’s Chamber representative said a decision would be made in accordance with relevant legal provisions.

Chong said the project site has suffered significant damage from vandalism and urgent action is needed.

He said that P3WA is currently using its own funds to hire Rela personnel to prevent further vandalism.

Both Liaw and Bolkiah urged the Insolvency Department to set a deadline for resolving the issue.