Help us Prayut! Contractors at The Energy Hua Hin claim 50 million in unpaid bills

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Help us Prayut! Contractors at The Energy Hua Hin claim 50 million in unpaid bills

 

Image: Daily News

 

HUA HIN: -- Contractors have been pictured in front of a huge condominium project in the Cha-Am - Hua Hin area appealing to the prime minister for help in getting unpaid fees.

 

Dozens of contractors are involved and some 50 million baht has not been paid to them since the start of the year, reports Daily News.

 

The project is understood to be The Energy on the beach area between Cha-Am and Hua Hin.

 

Reporters who went to the scene found only the protesters - there was no sign of anyone from the company at all.

 

One of the protesters Kittipong Promkasikorn, 38, said he was owed three million baht for electrical work completed at the project. He said that he had lost his vehicle that had been reclaimed by the finance company for non-payment. He was borrowing heavily from relatives to avoid having his house taken by the bank, he said.

 

All this has been going on since the start of the year and he said that it was not just the contractors who had suffered - many workers were waiting for wages due to them.

 

"We have had enough," he said "and we can't wait any longer. We are suffering and we want the prime minister to look into the case".

 

Reporters said that the seafront property is in a prime location and that there are advertisements all around trying to sell units. But all was quiet at the site apart from the protesters.

 

Source: Daily News

 

-- © Copyright Thai Visa News 2016-10-05

[patekatek]

If the current owners of the Energy project are this irresponsible early in the game, one can only imagine the nightmare that will plague the owners of the condos.  This whole project could become nothing more than an eye-sore in short order.   I feel sorry for the people who trusted the unethical project owners and are now struggling to survive.  Unfortunately,  Thailand is still a 3rd world country when it comes to consumer protection and the lack of proper bonding for developers in the event of a default.  I hope the workers get the help they need.

[KIWIBATCH]

progress payments....!!!!.....work and install stuff for 1 month.....get paid at the end of that month for work completed......if no payment STOP WORK........3 MILLION he is owed...!!!...obviously he kept working well beyond what could be deemed as reasonable without receiving payment.......did he have a contract between himself and the condo developers?.....which should have/could have included payment terms...I think the answer might be no.......

[Bob12345]

Is this that huge apartment complex right next to the main road?

The one that looks like the biggest government complex ever build (ugly style and waaaay too big) with many complexes right behind it?

 

If a project this size is not able to sell any units it has to be a clear sign something is completely wrong in the property market in that area.

Reminds of of almost every time a country breaks the "highest tower in the world" project only to experience a huge recession before the project finishes.

[Krataiboy]

What a poor piece of reporting. Nothing at all about the response of the developers of this monstrous project, which I gather has 10,000 units and is the biggest of the bunch (so far) to have sprung up along the Petchkasem Road.

 

One sympathises with the contractors  but there is an arguably even more important issue consider as the building frenzy continues unabated. Where will the water and electricity come from to feed these massive developments when there is scarcely enough for the needs of nearby Cha Am residents?

 

Or are such issues irrelevant so long as somebody is making a fast buck - and doubtless greasing palms along the way?

[TGIR]

The project was for approximately 5,600 units and a 5 star hotel.  When we moved to Cha Am ten years ago the telephone company had service for 2,500 residents.  Nearly the same as the rural town we are from in California.  Now there are condo units alone that have started in the past three years with well over 10,000 units total for sale.  Not to mention the business building that has preceded them.  It looks to me like the exodus from Bangkok has already begun....too bad for Cha Am.

[Booboo101]

The Energy has been in trouble for a long time, and is now on the verge of bankruptcy, its very sad but these guys will never get there money, the fat cats who built it with borrowed money will just walk away and it will be left to fall down, another huge blot and the landscape !

[impulse]

Anyone know how many of the units are pre-sold?  Or better yet, what percentage of them?

[sirmud63]

poor suckers got scamed by the oldest trick in the book , been thru it couple times in ozz many years ago . feel sorry for them ,it can happen anywere . 

[sirmud63]

2 hours ago, Krataiboy said:

What a poor piece of reporting. Nothing at all about the response of the developers of this monstrous project, which I gather has 10,000 units and is the biggest of the bunch (so far) to have sprung up along the Petchkasem Road.

 

One sympathises with the contractors  but there is an arguably even more important issue consider as the building frenzy continues unabated. Where will the water and electricity come from to feed these massive developments when there is scarcely enough for the needs of nearby Cha Am residents?

 

Or are such issues irrelevant so long as somebody is making a fast buck - and doubtless greasing palms along the way?

yes . its like running in an ever decreasing circle  , till you run up your own ass  lol. shame how they do seem to make an art of it here .  :D  thailand is now feeling what the rest of the world has been suffering for the last 8 years . all its gunna take is for the property bubble to burst . you think thailand is going down hill fast now ? wait till you see whats instore for the next couple years . thailand is going down the toilet very fast , and the army is the one pressing the button .

Edited October 5, 2016 by sirmud63

[HHNL]

I rang the management company today to get a quote -  it took some persuading amd scaremongering to get the operator to get someone to call me back. When they eventually did I was told "the workers are confused" and "the reason they have not been paid yet is because the work is substandard" - BULL!

people are trying to sell their 6 star condos for THB750.000 on Hua Hin Buy and Sell - that s how desperate they are to get the hell out of The Energy - it will become a major eye sore on Petchkasem Road in years to come - the management company has no conscience and knows it s in severe trouble - "let them rot from the bottom of The Energy s empty swimming pools" I d say.......

[ChrisY1]

3 hours ago, Booboo101 said:

The Energy has been in trouble for a long time, and is now on the verge of bankruptcy, its very sad but these guys will never get there money, the fat cats who built it with borrowed money will just walk away and it will be left to fall down, another huge blot and the landscape !

I'm not sure about the liquidity issues of the developer as you mention.....this project started under SC Asset (Shincorp)....now I see the developer/managing company is Baan Rajprasong Plc. ..Damapong family...connected to the Shins through marriages.

But agree, a real blot on the area and one which should never have been approved......

 

[ExpatOilWorker]

Is it just me or is their webpage totally useless and confusing: https://www.theenergy.co.th/home.html?

[55Jay]

Who comes up with these dumb names for Moobans and condos. 

 

Probably the same moron who photo shops the website pictures.  Gotta love this one.

 

 

[Booboo101]

I have a friend who works in a large Estate Agents here and in Bangkok, he told me months ago that the Energy was in big trouble, he said on 3 occasions they had been saved from bankruptcy, but now it was too late, the only thing that could save it, is if it is split up and sold to different companies, as you will see all work has come to a halt, the so called 6 star hotel is left an abandoned shell, and all those who put down deposits are now suing the owners for there money back.

[sendintheclowns]

I have a small contractor friend - a family business, comprising the husband and his team of installers, with the wife doing the billings and collections. The thing is, they were in very ordinary circumstances, when they started, 2 years  ago. Just the husband - so it was easy to keep track of collections. Their biggest problems are : 1. a lack of business education (where wold you get it, in rural Thailand?) to deal with the problems associated with the growth of the business and 2. social behavour, it goes against everything a Thai is taught, to confront and ''threaten'' to sue a delinquent payor. If a Thai has a large crew in place,  and expensive electric supplies bought and installed, it is not that easy to pull your crew off the site. Anybody suggesting that it is due to the lack of business acumen (progress billing) is stating the obvious- and applying first world standards to a third world situation.  I see the anti-govt. brigade trots out its usual ''the sky is falling' routine. Yes there is a strong likelihood that there will be a residential property meltdown, but that will hardly be the first time, here or anywhere else (including the US) . I agree that the reporting is crap - they never embarrass the hisosw and publish the names of the families who are the developer- owners.

[lostinisaan]

Reporters who went to the scene found only the protesters - there was no sign of anyone from the company at all.

 

 Who would like to get his thingy eaten by ducks? 

[muzmurray]

On 10/15/2016 at 8:03 PM, lostinisaan said:

Reporters who went to the scene found only the protesters - there was no sign of anyone from the company at all.

 

 Who would like to get his thingy eaten by ducks? 

 

Why do you always feel the need to lower the tone of threads?

[piersbeckett]

On 05/10/2016 at 8:55 PM, ExpatOilWorker said:

Is it just me or is their webpage totally useless and confusing: https://www.theenergy.co.th/home.html?

No, their webpage is totally useless and confusing.  Firstly, what is it 'the energy' of and then what the *uck does "Enjoy an exclusive life style needing to use money" mean? 

 

Perhaps it's fear of losing face that while they are investing huge sums in acquiring land and construction they don't bother to consult a competent native English speaker (& writer) to advise them on the appropriate naming of the complex as well as to design or at least edit their website.

[GeorgeCross]

17 hours ago, piersbeckett said:

No, their webpage is totally useless and confusing.  Firstly, what is it 'the energy' of and then what the *uck does "Enjoy an exclusive life style needing to use money" mean? 

 

Perhaps it's fear of losing face that while they are investing huge sums in acquiring land and construction they don't bother to consult a competent native English speaker (& writer) to advise them on the appropriate naming of the complex as well as to design or at least edit their website.

 

"the energy" - sounds like a UK rave party lol