Crackdown on Errant Developers in Malaysia
Errant and irresponsible developers, beware.
The Star ran a cover story on rogue building developers who cheat buyer of their money and how the Housing and Local Government Ministry is catching up with them.
To date, 96 companies have been caught, of which 16 of them are unlicenced developers who openly cheat buyers by appearing to sell houses in building sites.
According to the report:
Thirty-two of those facing court action did not comply with awards and decisions of the Home Buyers Claims Tribunal, and 80 other developers are being investigated for the same offence.The ministry has also slapped 519 developers with compound fines for failing to submit housing progress reports twice yearly, for violating advertisement regulations and other compoundable offences.
Recently, one of the 16 bogus developers challenged a house buyer to lodge complaints with the ministry despite knowing scores of developers are facing court action and that some had already been convicted.
For the rest of the article, read it here.
What is interesting to note is that a related article mentions that most of these cases are developers based in the Klang Valley.
Another interesting fact - there are currently 4,500 licenced housing developers in Malaysia. Wow, Property Malaysia has a long way to go, man…
Is there a way to get the list of those developer ?
Comment by siput — October 16, 2005 @ 9:55 am
one of them is definitely TALAM, i think.
Comment by sunwayman — October 18, 2005 @ 6:16 am
MAMPUJAYA is definitely one of those guilty too!
Comment by cheated — October 19, 2005 @ 2:59 am
hmmm…
Comment by Administrator — October 19, 2005 @ 2:24 pm
I think there is a mistake. There is no way there are 4,500 developers in Malaysia. Perhaps it should read that there are 4,500 developers’ licences that have been issued. Many of these are subsidiaries and joint ventures. Our country certainly cannot support 4,500 developers!
Comment by tweel — November 2, 2005 @ 2:04 am
there probably are 4500 if you count the subsidiaries. to the gomen, these subs count as a different entity, and most big companies berjaya and IOI have one for each project.
Comment by Administrator — November 2, 2005 @ 2:32 am