Monday, December 3, 2012
UEM Q3 2012 Profit Rose by RM 42.01M, Yet UEM Falls Short of Delivering Sales Promises
Thanks to increase in sales and construction progress from development such as East Ledang, Imperia, etc, UEM made a very significant increase in pre-tax profit in the recent Q3 per this article. As an investor and resident in UEM's development, I am often very disappointed with the developer. UEM falls short in many ways in delivering against the promises and expectations set in their marketing/sales messages (at least for this area). Yes UEM can market and sell their houses very effectively, but what comes after sales and construction is as important, if not more important because existing estates are reflection of the true value of the developer.
With this profit, I sincerely hope that UEM would finally take action and delivers promises made to its investors. Inaction or lack of actions would eventually generate very detrimental publicity and image to the company. So let's see how this goes.
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Hi Erika,
ReplyDeleteCan you be more specific where they fail to deliver ? Poor contruction of the building ? poor materials used ? Poor sub-con ?
Hi StarFire,
DeleteThere are quite a no of items that UEM fail to deliver. For me, the biggest is security service is below that promoted, building defects (but i Heard this is very common in MY development) and maintenance of the estate is below standard promoted in sales & marketing messages.
Hence we formed a protem committee with the aim to improve all these deliverables. THis is ongoing work, hopefully we can move a lot further in the NY.
All the best for the holiday season,
Erika
Hi,
ReplyDeleteAfter reading your blog about EL, I was very excited cos the only thing that concerned me was the security and the traffic jams at the checkpoints. When I went to UEM office to check out and spoke with one highly recommended sales lady, I was totally pissed off due to her attitude. Maybe I was dressed down that day cos I don't want to stick out like a soar thumb. At one point, she actually said this "I want you to remember this ah: this phase is this and that phase is this..." in a rude manner. Nevertheless, I didn't want to let one sales person close the door to a possible good property, neighbourhood and environment. I asked her to show me where are the villas and she asked me to drive in to check out myself. Well, I had a good time driving around the area and saw everything I wanted to see. I parked and went to check out the workmanship of one house. Sad to see that things are getting rusty before anyone has moved in there yet. There's a metal grille near one part of the house which looks awful and the so call designs with water feature is short of expectation. It looks like a drain. This is only my own perspective. So, if you are really interested in any projects in JB, make sure you go down to the actual place, check out the environment, see the existing or newly built houses. Do not rush. Sorry, I don't mean to disappoint anyone. I'm sure there will be good ones around but need time to look.
I agree with your findings Ben. Ask the developer to show you show house from Phase 2, you'll get to see the real quality of the build and renovation put in since these were completed 2 years ago. You should ask to speak and give feedback to management in charge. Which phase did you go to?
DeleteHi Erika,
ReplyDeleteThanks for ur informative and comprehensive blog..it's really v useful for ppl like me who r considering commuting between S'pore and JB daily...After reading ur blog about the defective building and substandard aftersales maintenance,though I like the neighbourhood, I am hesitating whether it is wise/worth to purchase a RM1.4mil linked house. Could u give me some advice pls? Thanks.
HI Sparks, thank you for reading my blog. I think it's really a decision that you have to make, what are the pros and cons, what suit and are most important to you. Of course entrance price into the market is important. Twin villas in East Ledang is now asking for RM2.5M to RM3M. Perhaps do a thorough check of the linked duplex, speak to developer or have a contractor check the building to assess the state of defect first...
DeleteAll the best! Erika