The Bigger Thailand Condo Jomtien Beach

[awayfoe]

K-TECK consruction seeking for new partners as it attempts to restructure debt

to adress it short term liquidity problems.

stock exchange bangkok quotation suspended !!!

employees not paid since two month !!

what's the future for OCEAN 1 ????

any information

[beginner]

The future of Ocean 1 is GREAT.

Business is about risk and problem solving. Its not easy; if it was easy all the armchair developers and bar room businessmen would actually be out there creating things. Its a lot easier to carp and criticise and see problems where none exist.

So there is a little local difficulty. Rome wasn't built in a day.

The kind of people who have the vision and determination to put together a project like Ocean 1 will triumph eventually.

It will be a worldwide talking point when completed and help bring even more wealth and prosperity to Pattaya.

[Tammi]

K-TECK consruction seeking for new partners as it attempts to restructure debt

to adress it short term liquidity problems.

stock exchange bangkok quotation suspended !!!

employees not paid since two month !!

what's the future for OCEAN 1 ????

any information

The future is interesting. Bruno must be concerned. Is it true staff have been reduced at View Talay Villas?

[awayfoe]

The future of Ocean 1 is GREAT.

Business is about risk and problem solving. Its not easy; if it was easy all the armchair developers and bar room businessmen would actually be out there creating things. Its a lot easier to carp and criticise and see problems where none exist.

So there is a little local difficulty. Rome wasn't built in a day.

The kind of people who have the vision and determination to put together a project like Ocean 1 will triumph eventually.

It will be a worldwide talking point when completed and help bring even more wealth and prosperity to Pattaya.

thank you for your opinion mister ''beginner''

but i not read any criticise on Bangkok post newspaper !!!!!!!

only full report about financial and social situation for Thai employees ! but you not concern by Thai people probebly ?

[JMS]

K-TECK consruction seeking for new partners as it attempts to restructure debt

to adress it short term liquidity problems.

stock exchange bangkok quotation suspended !!!

employees not paid since two month !!

what's the future for OCEAN 1 ????

any information

The Bangkok Post also stated that the debt problem was due to 2 developers not paying them. I know I am not allowed to mention them but I wonder who they were

[awayfoe]

K-TECK consruction seeking for new partners as it attempts to restructure debt

to adress it short term liquidity problems.

stock exchange bangkok quotation suspended !!!

employees not paid since two month !!

what's the future for OCEAN 1 ????

any information

The Bangkok Post also stated that the debt problem was due to 2 developers not paying them. I know I am not allowed to mention them but I wonder who they were

yes me too ! but never mind no censureship for the bangkok post ! we have the follow up soon

[awayfoe]

K-TECK consruction seeking for new partners as it attempts to restructure debt

to adress it short term liquidity problems.

stock exchange bangkok quotation suspended !!!

employees not paid since two month !!

what's the future for OCEAN 1 ????

any information

The future is interesting. Bruno must be concerned. Is it true staff have been reduced at View Talay Villas?

hi Tammi

i have no info for the hotel part but concerning view tallay villa privite hause everything is good with management and the place is clean and quiete like before

[JMS]

K-TECK consruction seeking for new partners as it attempts to restructure debt

to adress it short term liquidity problems.

stock exchange bangkok quotation suspended !!!

employees not paid since two month !!

what's the future for OCEAN 1 ????

any information

The Bangkok Post also stated that the debt problem was due to 2 developers not paying them. I know I am not allowed to mention them but I wonder who they were

yes me too ! but never mind no censureship for the bangkok post ! we have the follow up soon

I do not think they will name the developers but I have heard there is one in Pattaya in trouble that has dealt with K Tech

[awayfoe]

the story started in USA last year with the subprime ! now it's the DOMINO game theory ! just wait and look

[Tammi]

K-TECK consruction seeking for new partners as it attempts to restructure debt

to adress it short term liquidity problems.

stock exchange bangkok quotation suspended !!!

employees not paid since two month !!

what's the future for OCEAN 1 ????

any information

The future is interesting. Bruno must be concerned. Is it true staff have been reduced at View Talay Villas?

hi Tammi

i have no info for the hotel part but concerning view tallay villa privite hause everything is good with management and the place is clean and quiete like before

Yes, always is clean and tidy and quiet. But have heard that there is dreadful water problem and villas are not allowed to install water storage tanks. ?????

[awayfoe]

not true ! just sometime for a few hours becoze construction on the road outside ! but it's easy to have a tank like everybody in thailand !

anyway since four years now i have no water problem but it's true some old people complain for nothing like they do in their own country .............

[Tammi]

not true ! just sometime for a few hours becoze construction on the road outside ! but it's easy to have a tank like everybody in thailand !

anyway since four years now i have no water problem but it's true some old people complain for nothing like they do in their own country .............

Thank you for clearing that up for me. It is a beautiful estate and if water storage is possible it will be well worth looking at.

[BigSnake]

This Company has been on the down side for a few years since the death of one of the CEOs.

[monty]

since the death of one of the CEOs

Actually it was the founder, Bob Kevorkian who passed away! The K in K-tech comes from his family name!

It's said to see many a company, built up with a lot of sweat, go down the drain after the heirs take over.

Although, as a disclaimer, I do not know who is doing the day to day running of K-tech, since it is a publicly listed company (albeit with the shares blocked from trading until proper debt restructuring has happened).

[jbaldwin]

the story started in USA last year with the subprime ! now it's the DOMINO game theory ! just wait and look

Not sure that you can blaim sub-prime for this. The company has has finanical problems for some time. Below is a summary of recent failing of the Stock Exchange of Thailand

16 Oct 2007 - Director Resigns

15 Nov 2007 - Shares suspended for failing to submit Q3 2007 accounts

15 Nov 2007 - Company issues a statement that it had "received a number of suggestions from its auditors to adjust cetain items contained within the Q3 financial statements" and that "the Company is confident this it is able to submit Q3 financial statement by 30 November 2007"

3 Dec 2007 - Company annouces further delay in submitting financial statements to 15 Dec 2007

11 Dec 2007 - Director Dies

17 Dec 2007 - Financial statements now expected by 28 Dec

25 Dec 2007 - Another director resigns

28 Dec 2007 - Fincial Statements now expected by 15 Jan

The lastest estimate is that Financial Statements will be available on 28 March

[JaiDeeFarang]

K-TECK consruction seeking for new partners as it attempts to restructure debt

to adress it short term liquidity problems.

stock exchange bangkok quotation suspended !!!

employees not paid since two month !!

what's the future for OCEAN 1 ????

any information

The Bangkok Post also stated that the debt problem was due to 2 developers not paying them. I know I am not allowed to mention them but I wonder who they were

I mentioned this some time ago on another thread about Ocean 1. JMS you say you are not allowed to mention these developers, does this mean you know who they are?

I have an idea myself that one of them is the developer (mentioning no names) who decided to decorate the new high rise in Na Jomtien with that terrible stripey paint job as you look at it from Sukhumvit. I heard months ago that they owed K-Tech tens of millions of baht and that all the staff had left. The advert on the front of Pattaya Mail still says "Your Dream Home is Ready", which if you look at it couldn't be further from the truth!

The other one I think it may be is the developers of the abandoned part finished low rise condo on Soi 5 Pratumnak. I go past there quite often and never see anyone working on site. Again I heard a similar story about payment.

These were both K-Tech jobs and judging from the lack of staff I would say there's your answer.

[prospero]

Anyone who has been in Pattaya for more than the past five years has seen it all before. Condo projects abandoned; developers belly-up. Unpaid workers and unfulfilled contracts; investors with nothing to show but paper.

Look around you. Read the newspapers. The world just isn’t putting money into artists’ renderings of living in a lush tropical paradise. People who used to be looking for second properties are now looking for lifelines.

Pattaya will be hit especially hard because the untrammelled greed of the past couple of years has led to folly after folly. Ocean 1 is the biggest symbol of the excess, but there are many others. Clowns like “beginner” will continue to cling to dreams of eventual triumph, but the facts are that, while “Rome wasn’t built in a day”, it did decline and fall.

There is a certain developer, who shall go nameless, who has been trying to recover his losses through perpetual lawsuits. He may find the courts here far slower than the creditors

[dee123]

....iknow very little about the pattaya property market , but i do know the smell of" pooh pooh" if they keep building high rise will the "pooh pooh"...eventually catch up.?....What a stench there is everywhere in Patts these days

[JMS]

Anyone who has been in Pattaya for more than the past five years has seen it all before. Condo projects abandoned; developers belly-up. Unpaid workers and unfulfilled contracts; investors with nothing to show but paper.

Look around you. Read the newspapers. The world just isn't putting money into artists' renderings of living in a lush tropical paradise. People who used to be looking for second properties are now looking for lifelines.

Pattaya will be hit especially hard because the untrammelled greed of the past couple of years has led to folly after folly. Ocean 1 is the biggest symbol of the excess, but there are many others. Clowns like "beginner" will continue to cling to dreams of eventual triumph, but the facts are that, while "Rome wasn't built in a day", it did decline and fall.

There is a certain developer, who shall go nameless, who has been trying to recover his losses through perpetual lawsuits. He may find the courts here far slower than the creditors

Lets hope so. Pattaya will be a better place without him

[beginner]

Pattaya will be hit especially hard because the untrammelled greed of the past couple of years has led to folly after folly. Ocean 1 is the biggest symbol of the excess, but there are many others. Clowns like "beginner" will continue to cling to dreams of eventual triumph, but the facts are that, while "Rome wasn't built in a day", it did decline and fall.

Hello Prospero.

I have had a variety of careers, many occupations and jobs but have never been a clown.

As you concede, Rome wasn't built in a day, several centuries in fact. The coliseum took over twelve years to get all that concrete in the right place.

Regarding Rome's decline, well that is more problematic. Some argue that despite Gibbon's Book Title, it did not decline and fall. Many scholars maintain that rather than a "fall", the changes can more accurately be described as a complex transformation. Over time many theories have been proposed on why the Empire fell, or whether indeed it fell at all.

Despite you ad hominen attack I will leave you with the words of Prospero.

Now my charms are all o'erthrown,

And what strength I have's mine own,

Which is most faint: now, 'tis true,

I look forward to the day I can wave at you from the top of Ocean 1.

[prospero]

In your frenzy to outdo me in erudition, and your whinging about an “ad hominem” attack, you neglected to deal with the meat of my argument, which is that this is not a good time for shaky developers to hire bankrupt contractors to build gargantuan projects. Prospero, Shakespeare’s prototypical real-estate tycoon, hung up his cloak when he sensed the market was turning bad .

As for Rome, whether it collapsed or declined is moot. However it fell, it was stretched too thin, and governed by corruption. Sound familiar?

I do think Prospero had something to say about the current Pattaya property market. Try Act IV:

Our revels now are ended. These our actors,


As I foretold you, were all spirits and


Are melted into air, into thin air:


And, like the baseless fabric of this vision,


The cloud-capp'd towers, the gorgeous palaces,


The solemn temples, the great globe itself,


Ye all which it inherit, shall dissolve


And, like this insubstantial pageant faded,


Leave not a rack behind.

Cheers--

Prospero

[beginner]

you neglected to deal with the meat of my argument, which is that this is not a good time for shaky developers to hire bankrupt contractors to build gargantuan projects. Prospero, Shakespeare's prototypical real-estate tycoon, hung up his cloak when he sensed the market was turning bad .

I agree with you one hundred percent.

Can there ever be a good time for shaky developers to hire bankrupt contractors? But very few gargantuan projects are completed without political or technical problems and delays on the way. If you have no problems then you are not in business.

This project is so exciting with such a potential for creating 'face' and fame for the Jomtien area that many people are enthusiastic for its completion without any corrupt or direct financial interest.

In the current tempestuous financial climate it may be that there will be delays. Problem solving in business is what separates the winners from the rest. "The best laid schemes o' mice an' men Gang aft agley, An' lea'e us nought but grief an' pain, " What's new? The dream lives on.

Back in 1882 Mrs E A Rylands and her architect Basil Champneys faced all kinds of problems but persevered for eight long years and Manchester has enjoyed the magnificent result since 1890. The John Rylands Library design, like Ocean 1 also included state of the art features and was one of the first public buildings in Manchester to be lit by electricity. Similarly it also used top quality materials such as Penrith stone and incorporated the best most aesthetically pleasing design features not merely the cheapest. It is one of the architectural jewels of England and has given pleasure to millions.

Ocean 1 will also has the potential to uplift the spirits of those who see it. It might, I concede, need a little Prosperian sorcery and luck to go to completion as currently planned. Good things are worth waiting for. (I like my cliches).

One day I hope to be able to have a drink with you in the rooftop restaurant where we will admire the stunning views of the latest Jomtien developments and remember the 'good' old days when all you could see were old fashioned cheap and nasty cereal box buildings plus scruffy fields and even scruffier shophouses and low rise condos.

Edited March 26, 2008 by beginner

[prospero]

I’m very happy that Ms. Rylands and her Basil were able to persevere to build the Mancunian library that you so obviously benefited from. Perhaps someone will do the same for Pattaya one day.

But do go back to your books and note that the library was a munificent edifice dedicated to the public good, not private greed. What private greed was doing, all over industrial England, was putting up dark, satanic mills.

Compare your Ocean 1 tower rather to the fungus of tastelessness that has vulgarised the Costa Brava, Miami Beach, Brighton , and countless other seasides.

Speaking of cliché’s, your tower is an enormous one. It hasn’t exactly been designed by Eero Saaranin or William Van Allen, but rather, by some third rate architect whose idea of modernism comes from a game of Sim City. Not only is it huge, it is ugly, really ugly – completely out of scale with its environment, clogged into a sliver of a plot with no surrounding landscaping to set it off, topped off with a crown lifted from some glitzy hotel in Dubai.

Go back to your library and read up on architecture. You might come across the Chrysler Building, Salisbury Cathedral, the Eiffel Tower, the Bank of China, and a host of other vertical structures that have been the glories of their time and place. Your behemoth doesn’t belong in that category.

You seem to be obsessed with having a drink on a very high floor. I suggest you take a trip to New York or Hong Kong where that can be accomplished far more cheaply and with far less damage and delay.

[JMS]

Anyone who has been in Pattaya for more than the past five years has seen it all before. Condo projects abandoned; developers belly-up. Unpaid workers and unfulfilled contracts; investors with nothing to show but paper.

Look around you. Read the newspapers. The world just isn't putting money into artists' renderings of living in a lush tropical paradise. People who used to be looking for second properties are now looking for lifelines.

Pattaya will be hit especially hard because the untrammelled greed of the past couple of years has led to folly after folly. Ocean 1 is the biggest symbol of the excess, but there are many others. Clowns like "beginner" will continue to cling to dreams of eventual triumph, but the facts are that, while "Rome wasn't built in a day", it did decline and fall.

There is a certain developer, who shall go nameless, who has been trying to recover his losses through perpetual lawsuits. He may find the courts here far slower than the creditors

Yesterday I received a once in a lifetime offer from this developer to purchase a condo in the development we are not allowed to mention. You pay a 25% deposit then nothing to pay till you move in. Desperate or what, with no assurances it will be built.

[awayfoe]

not allowed to mention ! yes all of us we know the cencorship !!!

but can you explain where is the development in half words ??????

[prospero]

Yesterday I received a once in a lifetime offer from this developer to purchase a condo in the development we are not allowed to mention. You pay a 25% deposit then nothing to pay till you move in. Desperate or what, with no assurances it will be built.

The development that dare not speak its name

[surfer]

not allowed to mention ! yes all of us we know the cencorship !!!

but can you explain where is the development in half words ??????

under the censorship laws are nick names allowed?

Like VT7 = Verry Terrible 7

the unmentionable one = The Rags

Ocean 1 = Sunblock

I am sure there are better nicknames out there...

etc. etc...

[beginner]

But do go back to your books and note that the library was a munificent edifice dedicated to the public good, not private greed. What private greed was doing, all over industrial England, was putting up dark, satanic mills.

Speaking of cliché's, your tower is an enormous one. It hasn't exactly been designed by Eero Saaranin or William Van Allen, but rather, by some third rate architect whose idea of modernism comes from a game of Sim City. Not only is it huge, it is ugly, really ugly – completely out of scale with its environment, clogged into a sliver of a plot with no surrounding landscaping to set it off, topped off with a crown lifted from some glitzy hotel in Dubai.

This cliche thing is infectious. Dark Satanic Mills! Just look at Salts Mill in Bradford. What a beautiful, stately, noble building. In its time it had the largest room in Europe. http://www.saltsmill.org.uk/index.php?setPano=mainfloor

Its still loved today and attracts visitors from all over the world to enjoy the Hockney Galleries and the structure itself.

Many mills have been retained and adapted to serve as Arts Centres, museums, heritage centres or even shopping malls. Some are still magnificent today and reflect the spirit and optimism of the developers.

Ocean 1 is best judged by its local setting and purpose. Q1 is probably its nearest equivilent.

Jomtien is a holiday resort and not an ancient spacious city with tree lined boulevards and open spaces. Q1 in Surfers Paradise is also squeezed into a skyline of high rise condos and short roads feeding onto the beach road. see http://www.q1.com.au/home.html

Eventually if visitors continue to be attracted the skyline in Jomtien will be very similar.

By then the low rent, low quality structures around it will have been redeveloped to the financial benefit of all involved. The structure will be completely in scale with the neighbourhood that its construction will help create.

Whether it is ugly or not is a matter of taste but Sim City is a wildly popular game with the younger generation.

When the much loved and now protected Georgian Terraces were built in Bath there were similar protests. It was claimed the buildings were monstrous, out of scale and reflected the developers greed not public need. Some things never change.

[Demolition]

K-TECK consruction seeking for new partners as it attempts to restructure debt

to adress it short term liquidity problems.

stock exchange bangkok quotation suspended !!!

employees not paid since two month !!

what's the future for OCEAN 1 ????

any information

The Bangkok Post also stated that the debt problem was due to 2 developers not paying them. I know I am not allowed to mention them but I wonder who they were

yes me too ! but never mind no censureship for the bangkok post ! we have the follow up soon

I do not think they will name the developers but I have heard there is one in Pattaya in trouble that has dealt with K Tech

TROUBLE? you can say that again. How long has the company that we cannot mention on this forum got in Thailand! Have you seen there latest promotion!!!.. pay 25% and the balance when move in.. smacks of desperation..... (LETS GET SOME MONEY IN BOYS) some 12 months after the project was launched..This is a project that is way over construction date and the developer and land owners are in court. I can just see the next promo.. 5% down and a brand new push bike and a bowl of somtam, balance when move-in.

[JMS]

not allowed to mention ! yes all of us we know the cencorship !!!

but can you explain where is the development in half words ??????

Same as a sailing event on Dongtan beach