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90% KOSAN members Voted Against Development Plans By KL Developer

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Approximately 90% of Koperasi Serbaguna Sanya Berhad (KOSAN)’s koperasi members objected to the development plans on Wisma KOSAN’s land in Likas.

According to meeting minutes and reports sighted by inisabahbah.com, the objections were were made clear by KOSAN’s koperasi members in at least two Annual General Meetings in the past.

One of such occasion was KOSAN’s 32nd Annual General Meeting which fell on the 27th of August 2015.

In that AGM, a total of 132 koperasi members (92%) voted to postpone the proposed development plans to Wisma KOSAN’s land in Likas.

Only 12 koperasi members (8%) voted to continue the proposed development plans to Wisma KOSAN’s land in Likas.

132 koperasi members (92%) voted to postpone the development plans

According to a few koperasi members met by inisabahbah.com, the reason for the objection was because the Semenanjung-based developer did not specify KOSAN’s financial returns.

The vague agreement between KOSAN and the developer caused dissatisfaction among KOSAN’s koperasi members, as fears of a lopsided projected loomed.

Additionally, the motion also reads that koperasi members did not mandate the Board of Directors to build a new structure on the said piece of land.

Reasons to the objection

A year later, on the 27th of August 2016, KOSAN’s koperasi members put the motion to test for a second time in the 33rd Annual General Meeting.

An overwhelming 213 koperasi members (88%) voted to cancel the proposed development on Wisma KOSAN’s land in Likas.

Only 30 koperasi members (12%) voted to continue with the proposed development on Wisma KOSAN’s land in Likas.

213 koperasi members (88%) voted to cancel the proposed development

Recently, the status of Wisma KOSAN’s land came under public scrutiny, following revelations that board members of KOSAN entered into a joint venture with a private developer without the mandate of its members.

KOSAN, an agency under the Sabah Youth and Sports Ministry is the landowner of the land which Wisma KOSAN currently sits on.

Wisma KOSAN in 2010

On Sunday, Datuk Ellron Alfred Angin who is the Sabah Youth and Sports Minister and KOSAN Chairman claimed that the development will bring benefit to KOSAN’s members and the state of Sabah.

The Deputy President of STAR also claimed that private developers will build affordable housing on the subject land.

Ellron (right) with Musa and Jeffrey

But checks revealed that the proposed development named Likas Vue, is not an affordable housing project as claimed by Ellron.

It is a mixed development project with serviced apartments or better known as luxury condominiums, that is being sold at more than half a million ringgit for the smallest unit.

Artist impression and location of Likas Vue

A few real estate agencies have previously published the sales price of Likas Vue.

One published a RM587,000 price tag for the 884 sq ft unit, and RM679,000 for the 973 sq ft unit.

Another agency published a price tag of RM595,000 for the 884 sq ft unit.

In comparison, a much more affordable unit of apartment at Beverly Hills Phase 2 is being sold on mudah.my for a price between RM270,000 to RM300,000, which is half of Likas Vue which Ellron claims as “affordable housing”.

The units at Beverly Hills Phase 2 being compared is the same size as the Likas Vue units.

Listings on mudah.my


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