Source : Business Times - 11 Sep 2008
WE write with reference to the article ‘Protesters want KL hillside bungalow project halted’ (BT, Sept 5).
We wish to place on record that as a company listed on Bursa Malaysia since the 1960s with our core business in property development and a recent foray into the property sector in Singapore, it would be incumbent for us to defend our reputation and standing in the interest of our shareholders and investors. We would like to state that Selangor Dredging Berhad (SDB) has obtained all necessary approvals and complied with all requirements set by the regulators.
1. Your article said the development is valued at RM400 million. That’s incorrect. The development has an estimated value of RM250 million.
2. Your article said SDB had spent over RM30 million on infrastructure work. In fact, an estimated total sum of RM34 million will be invested by the company on infrastructure works of the project. The amount spent to date has not exceeded RM10 million.
3. Your article said the company paid RM58 million for the project land and even advertised the homes in Singapore. SDB paid approximately RM50 million for the project land and has not at any time advertised the homes either in Malaysia or Singapore.
4. Your article said that the Cabinet of former prime minister Mahathir Mohamad banned development of any hillside with a gradient of over 30 degrees and the Medan Damansara slope is well over 39 degrees. There is no total ban on hillside development in the Federal Territories, Kuala Lumpur with gradient of over 30 degrees. In any event, only about 15 per cent of the project land is on slope of more than 35 degrees. For this area, the development concept will be based on columns which is in line with the ‘Guidelines of High-Land/Hill Slope Development’ of 2005 by the Malaysian Ministry of Natural Resources and Environment.
5. Your article reported that a massive landslide nearly demolished two houses in the middle of the night. The incident was a landslip and not a landslide. The landslip damaged a perimeter brick wall and affected the compound of one house and not two houses as reported.
Our consultant’s findings indicate the most likely cause of the landslip was due to water being trapped at the bottom of the perimeter brick wall which eventually gave way. An earlier slope stability study conducted by our consultant shows the affected area to have a Factor of Safety (FOS) value below the acceptable level of 1.4. An FOS value lower than 1.0 means landslips are likely to occur. A copy of the report had been provided to the relevant authorities. No earthworks have been carried out to the affected area following the stop work order which was imposed since April 2008.
Whilst the company is not in a position to prevent any complaints by the residents, we reiterate that all relevant approvals have been duly obtained. The company continues to stand by its commitment to ensure that all works in the project will be carried out in a proper manner, in full compliance with all conditions imposed by the relevant authorities and with the residents’ safety in mind.
Lina Othman
Communications and corporate affairs manager
Selangor Dredging Berhad
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