Online House Hunting - Why a housing developer in Malaysia can easily get away from the laws?

Why a housing developer in Malaysia can easily get away from the laws?

I signed a Sales & Purchase Agreement with a "reputable" property developer in Malaysia i.e. TALAM Group in year 2000 for a medium-cost apartment to be built in Sunway, PJ Selangor. At the moment it is only 80% compeleted. The developer has assigned this project to one of its subsidiaries and the company directors have been amended. The original directors of course are at large and enjoying life while I am blacklisted by the bank from which I got loan to service this project due to late paying the interest. While I am being penalized for the being a bad paymaster, what about these individuals whose only company is blacklisted but are still free to open new company and get away with such crime? The project developer is filing for Company Act Sect 176 and asking buyers to waive the Late and Demurrage Charges amounting to about RM35,000? Is this fair?

Public Comments

This kind of thing happens all the time in the US, too. Developers have grand plans and are quick to take your deposit, but if the market fluctuates at all they slow down the project.
Even this abuse is taking place in UK too. Our company law was derived from Uk law and very much similar to UK company law. One main diff. is in UK people fight till House of Lord just to uphold the justice and principal, whereas here we half way drop the case.