Woes of a worried Bruneian developer

Monday, March 19, 2012

Dear Editor,

I AM a local Bruneian property developer, desperately in need of help.

Following recent news reports on the use of Power of Attorney (PA) in purchase of property, I have been facing challenges as the announcement has left many property developers like me in a lurch. I hold a PA from a landowner for property development.

Last week, I tried to apply for water supply for my project in Mumong, Kuala Belait. However, due to the new norm my application was not considered as the authorities felt my PA was invalid.But how can I explain this to my clients (buyers), who have paid for their houses? It is very unfair to them.

And not only this, a Bruneian buyer was unable to purchase the home from me because my PA was invalid.

I am extremely worried now as I am unable to honour my responsibilities and obligations to my buyers and landowners as a result of the new norm.

If I can't sell the houses, I won't be been able to pay my contractors, suppliers and complete the project for my local landowner.

This would adversely effects to my financial position, making it difficult for me to fulfil my obligations to my bankers.

I have consulted several lawyers, officials, bankers and other authorities for a solution but nobody could help me.

I am a Bruneian single mother, looking after my five children .

I highly appreciate if someone can advise me on the following matters:

1) Is my PA from my landowner invalid? Can't I sell any of my houses , apply for any water, electric or occupational permit for my home buyers?

2) Will I have to cease all my Mot appointment with my buyers who has paid me and signed agreement? 3) What do I do now with my the projects in projects?

4) Are all kinds of PAs now invalid, resulting in a freeze of all operations?

Please, help me find a solution!

Worried Bruneian Developer

BSB

Source: http://www.bt.com.bn/letters-editor/2012/03/19/woes-worried-bruneian-developer