Homelore

ASET KAYAMAS DEVELOPMENT

Mostly in Bukit Jalil

Also known as ASET KAYAMAS DEVELOPMENT SDN. BHD.

How their buildings read

2 poor, 1 fair, 1 good

Outcomes still vary building by building. Check the building, not the brochure.

What we found

The Edge reported that the developer completed its PPA1M project in Bukit Jalil about 17 months ahead of the May 2019 scheduled completion, handing over keys early.

The evidence

Delivery

Positive

  • A RUMAWIP affordable project, Desa Satumas, reportedly had construction halted by a DBKL stop-to-work order from November 2018, and buyers petitioned over unstamped S&Ps and a committed 31 October 2020 timeline.

2 more findings

  • A Rumawip project, Pandanmas 1, was scheduled for handover on 25 April, and the developer described it as its first project to be handed over.

  • Change.org petitioners reported that construction on a Rumawip project at Desa Satumas had stopped since 13 November 2018 after a DBKL stop-to-work order, with buyers' sale and purchase agreements unstamped.

Handover

Negative

  • A resident on a Lowyat forum thread from late 2021 reported a late-payment dispute and a delayed key handover, citing a developer clause on progress notices; this is one buyer's account.

3 more findings

  • A 2021 forum thread records a buyer disputing a late payment interest charge of RM252.06, arguing that the developer's late progress-payment and completion notices caused the delay, while another poster said the developer had sent registered mail on time and offered a goodwill discount.

  • Resident forum posts from 2018 report that many buyers of one project were charged late payment interest, in some cases as high as RM23k, before being allowed to collect keys.

  • Resident forum posters said the developer was slow to stamp sale and purchase agreements after collecting booking deposits.

Defects and workmanship

Negative

  • A 2019 review posted on a property-review aggregator described the developer's condominium as having many defects and reported a key-collection delay of several months, though this is a single anonymous account.

Post-handover response

Negative

  • A 2019 resident-forum post complained that defect reports and service calls to the developer went unanswered and that the after-sales service was poor, though this is one anonymous account.

Regulatory and legal

Negative

  • A former Federal Territories Minister, Tengku Adnan, was charged over accepting RM2 million from the company's director via a cheque drawn on Aset Kayamas Sdn Bhd, which was tied to the company's dealings with his ministry; the case was before the Kuala Lumpur High Court in 2019.

3 more findings

  • Earlier in 2019, the High Court heard that DBKL had initially rejected the developer's land proposal because the city hall wanted to develop the Bandar Tun Razak land itself.

  • Kuala Lumpur City Hall (DBKL) declined to blacklist the developer in September 2019, saying future dealings would depend on the court's decision in the corruption case.

  • In a 2019 High Court ruling in the same corruption case, the judge found the RM2 million paid by the company went to Tadmansori Holdings, with no proven onward payment to Umno, and noted the company had no business dealings with that firm.

Corporate continuity

  • A credit-report aggregator lists Aset Kayamas Development Sdn Bhd as an existing company with SSM number 0929423V / 201101001289 and a housing developer and general contractor business.

2 more findings

  • Company records show the entity was incorporated in January 2011 with a stated business covering housing development, general contracting, and operating non-residential property and hotels, and it appears as an active private company on credit-report sites.

  • The Companies Commission (SSM) record shows Aset Kayamas Development Sdn Bhd as an existing private limited company incorporated on 11 January 2011, with a registered address in Jalan Brunei Barat, Pudu, and three directors.

Their buildings

Parkhill Residence Bukit Jalil: A street-level view of several high-rise residential towers with white and grey facades, accented with yellow stripes, under an overcast sky, with a red car and street lamps in the foreground.Parkhill Residence Bukit JalilBukit Jalil5.9PoorThe Havre @ Bukit Jalil: Exterior facade of The Havre Bukit Jalil with a hanging garden and parking entranceThe Havre @ Bukit JalilBukit JalilUnits facing the highway have no balconies, which the reviewer sees as a smart way to deal with road noise and keep the facade tidy.5.4PoorThe HermingtonTaman Desa and Kuchai LamaThe building features a convenient drop-off area with organized parcel racks.6.1FairThe Hermington @ Kuchai LamaTaman Desa and Kuchai Lama7.1Good