GRS Scheme: Too good to be true?

If you are attracted by all the radio advertisements and agressive sales talk about the high percentage return on the GRS scheme....it's probably too good to be true.

A fellow Malaysian has the same experience with the GRS scheme offered by another group Lagenda...please go to his blog to find out more. Here: http://lagendagroup.blogsome.com/.

LagendaGroup blogger also posted a comment on my WHAT YOU DONT KNOW ABOUT MEDA INC blog. On that blog, you can read in-depth revelations about the Meda Inc Bhd group. I post his comment here for your benefit if you are thinking of buying COVA VILLA.

Lagenda Blogger said...
Wendy, help you little bit.Go to this site : Search for "cova villa". Option "search for all term". You can get many people comment about this project. (unfortunately all are old post. This project is not "hot" now in that forum).First of all, the Sri Utama in front of Cova Villa is not a college. It's a secondary school. I think that make big different in term of potential tenant.I remember this project because it also offer the "Guarantee Return Scheme".Nowaday this project making many advertisment on radio. I guest people may interested if you make a post on the forum to offer more detail from your site. But which site? New or Old? You need to decide. Or wait until your new site completed.By the way, I have a strange feeling that Dataran Mantin and Cova Villa have some how related.

(The website Lagenda Blogger is referring to is --> http://www.realestate.net.my/forum/search.php )

Some things you gotta know about Cova Villa

Cova Villa at Kota Damansara- built next to an oxidation pond.
Nice from far but far from nice.


Hi,

Selamat datang.

COVA VILLA is a new development in the fast-growing and hip Kota Damansara township.

There are some information which you may not be able to find on their official websites. This is the reason why I decided to set up this blog. I aLready have another 2 blogs about the people behind the COVA VILLA project.

Here are some facts:
COVA VILLA is developed by a company called PHARMA EXEL SDN BHD. Don't recognise the name?

This project is under the ANDAMAN GROUP SDN BHD. Don't remember this name?

These are very new names in the property development scene.

Both its offices are located at 18th floor of Menara Summit at Subang USJ, part of the Summit Shopping and Summit Hotel Subang USJ Complex. Sounds familiar?

These companies are owned by the same people who own MEDA INC BHD, ECOFIRST CONSOLIDATED BHD (formerly Kumpulan Emas Bhd), and SEGi, plus numerous other companies under the different Groups and their private ownership.

So before you jump in and think you're getting a fantastic deal in a COVA VILLA investment, you might want to check for more information to save yourself some heartache, headache and regrets.

One reason why anyone would develop so many properties under so many different companies and not use their mainboard listed PLCs is because every one of their past projects had not met expectations and their property management standards had not been satisfactory, thus affecting buyers' investment returns negatively. In other words, BAD REPUTATION.

Other possible reasons can be found in my WHAT YOU DON'T KNOW ABOUT MEDA INC BHD blog. Link is below, and also on the left.

You might have second thoughts about investing in the condos after you read some comments here:

http://propertymalaysia.blogsome.com/2006/07/02/cova-villa-kota-damansara/

http://propertymalaysia.blogsome.com/2006/06/09/preview-cova-villa/

For best feedback and opinion, I suggest you visit the shopowners and tenants at Summit Shopping Complex Subang USJ at Persiawaran Kewajipan, Subang USJ. Be careful though: many of them are very angry people, and they have formed an association to take legal action against the Complex management and the tricky owners because. In fact, so many people are fighting the owners - tenants, buyers, suppliers and contractors. Do you want to be among them?

Here is the link to my blog WHAT YOU DON'T KNOW ABOUT MEDA INC BHD:
http://what-you-dont-know-about-meda-inc.blogspot.com

A news report to show that THE COVA and COVA VILLA are under ANDAMAN GROUP SDN BHD:
http://star-space.com/news/story.asp?file=/2006/7/24/propertynews/14906615&sec=propertynews

The developer PHARMA EXEL: http://www.iproperty.com.my/property/development.asp?pid=798&nav=t

Have you heard that the COVA VILLA is actually next to an oxidation pond?? Kena dengue fever susah!