COMPLETE MALAYSIAN HOME BUYERS’ GUIDE 2008

COMPLETE MALAYSIAN HOME BUYERS’ GUIDE 2008

Important Considerations for Buyers of Malaysian “Homes”:

1. Check Whether The “Home” Is Sited On Residential or Commercial Land:

Is it sited on residential or commercial land? The former – known as “housing accommodation” - enjoys specific protections and safeguards under the Housing Development (Control & Licensing) Act (HDA) & Housing Development Regulations (HDR); Whereas the latter (e.g. serviced apartments, condotel, resort apartments and the likes) do not – instead, they are governed by, among others, the Contracts Act and other Malaysian law.

Is it on a freehold or a leasehold land? If leasehold, how many years left?

Is it on Malay Reserve land which non-Malay cannot buy?

2. Check On The Developer:

A Malaysian home which is a “housing accommodation” under the HDA & HDR can only be legally developed and offered for sale by a developer with:
· A valid housing development licence;
· A valid advertisement licence for the housing development;
· A valid sales permit.

Obviously, you should also check on the developer’s track record in terms of:
· completion ability;
· delivery of quality;
· past customers’ experience.

3. Check: A “Landed Home” or “Strata Home”?

A “housing accommodation” under the HDA can be a “landed home” (such as bungalows, semi-detached houses and terrace houses) or a “strata home” (such as condominiums, flats, apartments and townhouses).

HDR Reg. 11(1) imposes different standard Sale & Purchase Agreements and different periods of completion for a “landed home” as opposed to a “strata home”:
· For “landed homes” - the legally expected date of completion is 24 months from the date of signing of the Sales and Purchase Agreement (SPA) as per Schedule G of HDR 1989; whereas,

· For “strata homes” - the expected date of completion is 36 months from the date of signing of the SPA (as per Schedule H of HDR 1989).

HDR Reg. 11(4) further states that the Purchaser’s solicitor is “entitled to a complete set of the contract of sale including…free of charge subject to the undertaking…to return…in the event…not executed by the purchaser within fourteen (14) days from the date of receipt…”

The rights of buyers must be understood as contained in the Sales and Purchase Agreement as in either schedules G or H of the Housing Development (Control and Licensing) Regulation 1989, whichever is applicable – please refer above

4. Get A Copy of The Brochure

Brochures for a housing development are usually given free by the developers. HDR Regulation 6(1) stipulates that certain information must be included in any advertisement – including the brochure. Do look out for the following information:
1. The Housing Development’s Licence number and the expiry date;
2. The Advertisement and Sales permit numbers and the expiry dates;
3. Name and address of:
· The licensed housing developer;
· The authorized agents (if any);
· The holders of power of attorney (if any);
· The project management company (if any);
4. Land details: tenure – freehold or leasehold expiring when? Land mortgaged to bank?
5. Development Description:
· Location;
· Building material specification;
· Size of the property;
· services/amenities.
6. Name of Housing Project (if any);
7. Expected Date of Completion;
8. Price of each type of home;
9. Number of units for each type;
10. Reference number of the approved building plan and the name of the local approving authority

5. First Payment 10% - No Payment Allowed Before Signing SPA.

The first payment of 10 per cent must be made upon signing of the Sales and Purchase Agreement. Please ensure the date of signing of the SPA and the date of first payment are the same.

Be informed that under HDR Regulation 11(2): the housing developer is not allowed to collect any form of payment by whatever name called (whether as booking fee, earnest money, earnest deposit or what not) without a Sales and Purchase Agreement being signed.

HDR Reg 11(4) further states that the Purchaser’s solicitor is “entitled to a complete set of the contract of sale including…free of charge subject to the undertaking…to return…in the event…not executed by the purchaser within fourteen (14) days from date of receipt…”

6. Architect Certification

Any demand by the developer for instalment payment must be supported by a certificate duly signed by an architect or a certified engineer.

7. Interest on Late Payment

A buyer (or whose end financier) who fails to pay the developer the progressive payment/installment within 21 working days from the date of the written notice of payment from the developer can, under the standard SPA, be charged an interest of 10 per cent per annum on the installment in arrear.

8. Termination of the Sales and Purchase Agreement

Any such failure to make the progressive payment or interest charged on late payment for a period of more than 28 days can give the developer the right to terminate the Sales and Purchase Agreement. The developer must serve the notice in writing by AR registered post of its intention to terminate the SPA.

9. Infrastructural Maintenance Fee

Buyers must pay the cost of maintaining the infrastructure from the date of vacant possession till the date the responsibility is taken over by the local authority or management corporation (in the case of a subdivided building).

Infrastructure is defined as:
a) For land and building - Road, driveway, drains, sewerage, pipelines and sewerage tank for the housing development;
b)For subdivided building - Road, driveway, drains, sewerage, pipelines and sewerage tank for the building.

10. Maintenance and Management Fee

From the date of vacant possession the buyer shall be responsible for paying for services such as:-

11. For land and building

i.) Refuse removal, upkeep of drains and grass-cutting on the road reserves;

ii.) The buyer is responsible for such payment until such responsibility is taken over by the proper authority;

iii.) The buyer must pay a six months’ deposit upon being handed vacant possession for the services to be rendered. After six months, if the services are still not taken over by the relevant authority, any subsequent payment shall be payable on a monthly advance.

12. For subdivided building

i.) Payment is for the cost of maintaining and managing the common area and payment starts when vacant possession is handed over.

ii.) The buyer shall pay one (1) month’s deposit and three (3) months’ advance in respect of the maintenance service charges and any payment thereafter shall be payable on a monthly advance.

iii.) Maintenance fee must be paid to the developer from the date of vacant possession up until the formation of a management corporation under the Strata Title Act 1985.

iv.) Once the management corporation is formed under the Strata Title Act 1985, maintenance services will be handled by the management corporation and the buyer must pay the maintenance fee to the management corporation and not to the developer.

(Reminder: Maintenance fee must be paid as long as the buyer owns a parcel in the said maintained building.)

13. Sinking fund

For subdivided building onlyThe buyer shall upon the date he takes vacant possession of the said parcel contribute to the sinking fund an amount equivalent to 10 per cent of the service charges. The buyer shall pay one (1) month’s deposit and three (3) months’ advance in respect of the service charges to the sinking fund and any payment thereafter shall be payable on a monthly advance.

14. Payment of Quit Rent, Rate Assessment, etc

From the date of vacant possession or date of assignment, whichever is earlier, the buyer is responsible for the quit rent, assessment, rate payment and other charges relating to the property bought.

15. Vacant Possession

Vacant possession on the building complete with water and electricity connection must be handed over within 24 calendar months from the date of signing of the SPA for landed property and 36 calendar months for subdivided building.Regulation and Rights of House Buyers during the Handing over of Vacant Possession.

Ensure the property is free from any encumbrances before accepting notice of vacant possession.If the developer leases the land or the property, the developer must settle the balance payment before handing over vacant possession.

Conditions that must be followed by housing developers:-
1.) Certificate from the developer’s architect stating thata.) the building is completedb.) water and electricity are ready for connection
2.) The developer has applied for:
a.) the issue of the Certificate of Fitness for Occupation (CFO) through Form E *
b.) the local authority has issued a notice stating that Form E has been checked and accepted by the relevant authority.
(* Form E is an application from the developer’s architect to the relevant authority for the issue of the CFO.)

The buyer is entitled to enter into occupation of the property only upon issue of the CFO by the relevant authority and renovation may be carried out only upon issue of the CFO and approval of the plan by the relevant authority. While inspecting the building, any defect is recorded and handed over to the developer to be rectified. Make sure you obtain a copy of the report. The buyer is entitled to claim for late delivery from the developer.

16. Damages

If the developer fails to deliver vacant possession of the building as stipulated by the SPA, it must pay damages calculated on a daily rest, 10 per cent per annum of the purchase price.

17. Defect liability period

The defect liability period is 18 months after the date of vacant possession. Creation of Management Corporation for Subdivided BuildingA management corporation will be created once the strata title of each individual parcel is issued to the owners. Other functions of the management corporation include insuring and maintaining the building.

18. Enquiries and complaints

You may contact:

Monitoring and Enforcement Division
Ministry of Housing and Local Government
Level 3, Block B North, Pusat Bandar Damansara
50782 KUALA LUMPUR
Tel : 03-2094 7033Fax: 03- 2092 5049

This is a division under the Ministry of Housing and Local Government and it is responsible for the implementation and enforcement of the provisions of the Housing Developers (Control and Licensing) Act (Act 118).

Forward your complaints to the above division. Or e-mail its enforcement officers at enforcement@kpkt.gov.my, giving your full name, IC no, developer’s name, name of housing project, etc. and the gist of your complaint.

Douglas.

(Acknowledgments & Disclaimer:
The above summary is adapted mainly from information publicly available at the Official website of the Malaysian Ministry Of Housing & Local Goivernment. While every effort and care is taken to ensure accuracy, reliance on it wholly or partly is solely at the discretion and risks of the readers. The writer does not, cannot and will not give warranty of any kind whatsoever for the above summary which is given free and in good faith.)

Talk On Test Of Professional Competence for Malaysian Probationary Estate Agents (PEAs) - 30 Aug. 2008

To:
Principals, REAs, PEAs & Negotiators (of Malaysian Real Estate Agencies),

The 23 Aug 2008 "Talk On TPC" is now closed for registration.

Nevertheless, another "Talk On Test of Professional Competence" will be held on 30 Aug. 2008 (Sat) to take advantage of the long Merdeka weekend for the benefits of outstation participants based on feedback by some callers. This talk is to support and compliment similar TPC talks held elsewhere by others and to give PEAs more choices.

TPC Registration Form (Click this link) is downloadable at "My Links" of this blog. Details of the TPC Talk are as follows:

Topics covered:

How to prepare for:
1) Yearly Work Diary?
2) Record of Experience?
3) Practical Task 1?
4) Practical Task 2?
5) Professional Interview?

Date : 30th August 2008 (Saturday)

Time : 9:30am – 3:30pm (Lunch 12:30pm – 1:30pm)

Venue : Training Room
GT REALTY
22-B (2nd Floor), Jalan 19/36
46300 Petaling Jaya, Selangor.
(In front of SJK (C) Puay Chai Primary School, SS2, PJ)

Speaker : Mr. Douglas GT Tan - holds a B.Sc. (Bldg) degree from NUS, S'pore; passed his TPC in 1 sitting; practiced real estate agency more than 15 years since 1992; closed high-end & low-end properties; lectured part-time at HELP in 2003 & 2004 on "Real Estate Agency Practice", "Real Estate Agency Law" & "Principles & Practice of Marketing"; conducted 2 TPC talks in 2003. Secure your seats early to avoid disappointment!

Fee : RM250/person (RM220/person if register before Aug. 27 or group registration)
(fee includes notes, mints & bottled water plus lunch)

Payment : 1. Credit cash into Maybank Bhd A/c No.: 112763-020567 of TAN GEE TICK, or
2. Mail crossed cheque payable to TAN GEE TICK (to add outstation charges)

To Register: Please call Ms. Ester (017-6018 062) / Mr. Douglas (012-288 6993)

(Important Note: Participant shall not cancel paid registration but approved substitution is allowed; in the event of cancellation/rejection by organizer, full interest-free refund shall be given to the participant or his/her sponsor.)

Regards,
for Douglas.

For Sale: Residential Properties Across Malaysia (as at 20 Aug. 2008)

Hi Folks,

If you are looking to buy residential properties in any parts of Malaysia - from Perlis in the north to Johor in the south (of Peninsular Malaysia) or from Sabah to Sarawak (in East Malaysia) - Just click this link on Residential Properties For Sale In Malaysia: Yes, more than 1,000 housing accommodation, in different states across Malaysia, with pertinent information (location, property type, size and reserved price) nicely tabulated in 92 A4 pages for your convenient viewing. Click the link now to look for your desired residential properties!

Once you have interest - whether to buy or to view any one of them: Just email me at tanhalim1@gmail.com stating the 1) Property Ref. No. & Page No.; 2) Location (e.g. Selangor, Petaling Jaya); 3) Property Type (e.g. Terrace House) and 4) Its Reserved Price; and, of course, 5) Your Full Name & Contact Details.

Upon making the necessary arrangements with the Vendors on "best effort" basis, we will follow-up with you thereafter.

Cheers,
Douglas GT Tan (H/p: 012-288 6993)

GT REALTY, 22-B Jalan 19/36, 46300 Petaling Jaya, Selangor D.E., Malaysia.
Tel: 03-7958 8821 / Fax: 03-7958 7821

P/s: Lists of other types of properties (commercial, industrial & land) for sale across Malaysia will be out very soon - look out for them in my subsequent posts!

Home Buyers Guide (Part 5)

Hi Folks,

First Payment (10%) - No Payment Allowed Before Signing SPA.

Do you know:

• That the first payment of 10 per cent shall only be made by you upon signing of the Sales and Purchase Agreement? That the date of signing of the SPA and the date of first payment should therefore be the same?
• That under HDR Regulation 11(2): A housing developer is not allowed to collect any form of payment by whatever name called (whether as booking fee, earnest money, earnest deposit or what not) without a Sales and Purchase Agreement being signed?
• That HDR Reg 11(4) further states that the Purchaser’s solicitor is “entitled to a complete set of the contract of sale including…free of charge subject to the undertaking…to return…in the event…not executed by the purchaser within fourteen (14) days from date of receipt…”?

That is why from the very beginning, it is very important to make sure whether the 'residence' you are buying is on residential land or commercial land. If the former, then above stipulations apply. As for 'residence' on commercial land such as service apartments, the terms of the Sale & Purchase Agreement need not be those that are prescribed in Schedule H or G of the HDR 1989.

In fact, I can show an actual S&P for a 'serviced apartment' near Mont Kiara which terms are significantly different from those of the standard S&P under the HDR - more of these in my subsequent posts.

Douglas.

Talk On Test of Professional Competence For Malaysian Probationary Real Estate Agents (PEAs) - 23 Aug. 2008 (Sat)

To:
ALL Malaysian REAs, PEAs & Negotiators,

Kindly let your friends and colleagues who are PEAs (Probationary Estate Agents or Negotiators who have just passed their written examinations in "Diploma In Real Estate Agency") know that there will be a talk on "Test of Professional Competence (TPC)" on 23 August 2008 (Sat). This talk is meant to support similar talks held elsewhere and to give PEAs more choices.

Details are as follows:

Topics covered - How to prepare for:

1. Yearly Work Diary?
2. Record of Experience?
3. PracticalTask 1?
4. Practical Task 2?
5. Professional Interview?

Date : 23rd August 2008 (Saturday);

Time : 9:30am – 3:30pm (Lunch 12:30pm – 1:30pm);

Venue : Training Room , GT REALTY, 22-B (2nd Floor), Jalan 19/3646300 Petaling Jaya, Selangor. (In front of SJK (C) Puay Chai Primary School,SS2, PJ)

Speaker :

Mr. Douglas GT Tan (holds a B.Sc. (Bldg) degree from NUS,S'pore; passed his TPC in 1 sitting; practiced real estate agency more than 15 years since 1992; closed high-end & low-end properties; lectured part-time at HELP in 2003 & 2004 on "Real Estate Agency Practice", "Real Estate Agency Law" & "Principles & Practice of Marketing"; conducted 2 TPC talks in 2003. Secure your seats early!)

Fee : RM250/person (RM220/person if before Aug. 16 or group registration - fee includes notes, mints & bottled water plus a surprise)

Payment :

• Credit cash/cheque into Maybank Bhd A/c No.: 112763-020567 of TAN GEE TICK, or
• Mail crossed cheque payable to TAN GEE TICK to reach by 20 Aug 08 (add outstation charges)

Enquiry : Ms. Ester (017-6018 062) / Mr. Douglas (012-288 6993)

(Important Note: Participant shall not cancel paid registration butapproved substitution is allowed; in the event of cancellation/rejectionby organizer, full interest-free refund shall be given to theparticipant or his/her sponsor.)

Register early to secure seats!

Regards,

for Douglas.

(TPC Registration Form is downloadable at "My Links" of this blog - at the left)

Malaysian Home Buyers Guide (Part 4)

Hi Folks,

When you are buying a "home" or residence in a housing development built on residential land and therefore governed by the HDA & HDR, it is important that you get the Brochure not just because it usually given free by the developers but more because the law (the HDA & HDR) stipulates that certain information must be included in the brochure.

Do look out for the following information:
1. The Housing Development’s Licence number and the expiry date;
2. The Advertisement and Sales permit numbers and the expiry dates;
3. Name and address of:
· The licensed housing developer;
· The authorized agents (if any);
· The holders of power of attorney (if any);
· The project management company (if any);
4. Land details: tenure – freehold or leasehold expiring when? Land mortgaged to bank?
5. Development Description:
· Location;
· Building material specification;
· Size of the property;
· services/amenities.
6. Name of Housing Project (if any);
7. Expected Date of Completion;
8. Price of each type of home;
9. Number of units for each type;Reference number of the approved building plan and the name of the local approving authority.

When you don't see any of the above information, check whether the so-called "home" you have in mind is built on commercial land in which case you cannot rely on HDA & HDR for safeguards and protections (e.g. claiming LD for delay in delivery of vacant possession by the developer before the Housing Tribunal) - your recourse would have to be based, among others, on what you have signed with the developer in the context of Malaysian law (e.g. filing a civil suit under the Contracts Act based on a contractual clause in S&P that allows claim for LD for the delay in delivering vacant possession - this civil suit would not be subject to the limitation on the quantum of LD being claimed since it is not a claim before the Housing Tribunal and the service of a lawyer may be engaged unlike an LD claim before the Housing Tribunal).

I will cover a few more points in my next few posts. Thereafter, I will provide a summary of all the points for the benefits of those preparing for the diploma of real estate agency examinations and the Malaysian Home Buyers at large. (Of course, reliance on my notes are at your sole discretion and risks. I undertake no warranty of any kind whatsoever for the the view honestly expressed in good faith to the best of my knowledge and for public interests.)

Have a great weekend,

Douglas.

Malaysian Home Buyers Guide (Part 3)

4. Check on The Home: Is It A “Landed Home” or “Strata Home”?

This check is important because the Malaysian housing development law (the HDA & HDR) imposes different periods for completion and standard Sales & Purchase Agreements:

• For “landed homes” (such as bungalows, semi-detached houses and terrace houses) the legally expected date of completion is 24 months from the date of signing of the Sales and Purchase Agreement (SPA) as per Schedule G of HDR 1989; whereas,
• For “strata homes” (or sub-divided homes, if you like, such as condominiums, flats, apartments and townhouses) the expected date of completion is 36 months from the date of signing of the SPA (as per Schedule H of HDR 1989).
  

Your rights as a buyer of Malaysian home or housing accommodation must be understood as contained in the Sales and Purchase Agreement as per either schedules G or H of the Housing Development (Control and Licensing) Regulation 1989, whichever is applicable.

Douglas.

Malaysian Home Buyers Guide (Part 2)

Hi Folks,

3. After Checking Land, Check Developer: Track Record, Development License, Sales Permit & Advertisement Permit

Yesterday, it was said that a Malaysian home buyer should 1st check whether the home (house, bungalow, semi-detached house, apartment, condominium apartment, apartment above shop or office, townhouse or simply any residence) he intends to buy is indeed sited on residential land and not commercial land - just to ensure whether the protections and safeguards under the Housing Development (Control & Licensing) Act (Act 118) apply.

When you do the above check on the land, obviously you will also check on whether it is a:

• leasehold land, or
• freehold land - if leasehold, how many years left? If you are non-Malay, check also that it is not
• Malay Reserve land.

Once you are satisfied with the land, the next thing to do is to check on the developer:

• developer's track record - experience of past customers? any stalled projects? delayed completions? finished products fell short of legitimate expectations? refusal to pay Liquidated Damages for late delivery of vacant possession?
• developer's license for the development - yes or no? still valid?
• developer's advertisement permit - yes or no? still valid?
• developer's sales permit - yes or no? still valid?

In my next post, i will talk about the time for completion of the home as per the standard Sale & Purchase Agreements of the HDA Act. Stay tuned.

Douglas.

Malaysian Home Buyers Guide (Part 1)

Dear Folks,

Guidelines for Buyers of Malaysian Residential Properties (Part 1)

In the next few weeks, I will be sharing in a few postings what every malaysian home buyers should know about buying residential properties in Malaysia. Whether you are 1st time home buyers or expat home buyers under or outside the Malaysia My 2nd. Home (MM2H) programmes, the posts should be of value to you.

First thing first, two basic questions:

1) What is a Malaysian home?

A Malaysian home is a "housing accomodation" that is developed under the Housing Development (Control and Licensing) Act (HDA Act 118) and Regulations (HDA Regulations). It includes "any building... which is wholly or principally constructed...for human habitation or partly for human habitation and partly for business premises" such as bungalows, semi-detached houses, terrace houses, townhouses, apartments, condominium apartments, soho apartments, shophouses all of which are built on lands (in Malaysia) that are designated or approved for residential use.

2) What is not a Malaysian Home?

A Malaysian Home "does not include an accomodation erected on any land (in Malaysia) designated for or approved for commercial development" such as service apartments, condotel, apartments above shopping podiums or complexes, resort apartments or chalets that are built on commercial land.

It is important to know the difference because a Malaysian Home is governed by and enjoy protections under the HDA Act while a residence on commercial land is protected by Malaysian common law.

Therefore, the 1st thing Malaysian home buyers should determine is whether the so-call "home" is built on residential land or commercial. If residential, then the safeguards and protections for Home Buyers under the HDA Act 118 shall apply

What are the safeguards and protections? Well, more in my next post tomorrow.

Douglas.

Malaysia - My Second Home Programme: FAQs

Hi Folks,

Something about "Malaysia - My 2nd Home (MM2H)" programme: Just to share some FAQs and answers based on information to the best of my knowledge as at the time of this posting.

1. When was it introduced? In 2002 by the Malaysian Government to replace what was then known as "The Silver Hair Programme (SH)".
2. What is it all about? Like its predecessor SH programme, MM2H programme encourages foreigners to come and live in Malaysia. This is done through a "Multiple-Entry" Social Visit Visa up to 10 years (depending on expiry date of your passport) that is renewable.
3. Why this MM2H policy? Policy makers believe there are great economic spin-offs for such a policy (psssst...not that Malaysia wants to be colonised again).
4. Who may apply? Citizens of ALL countries except Israel, Montenegro and Yugoslavia.
5. Why choose Malaysia? Expats with strong currency will find Malaysia the best value place outside their home country to regularly visit and live. The climate and weather are pleasant all year-long - NO cold winter, no scorching summer, no typhoon, no cyclone, no earthquake or things like - Monsoon Cup & some floods - yes; F1 - yes; Le Tour De Langkawi -Yes, World-class Medical Facilities - Yes, many rich Indonesians can vouch for this; World-class Education - being worked on; Great Variety of Foods and Cuisines - from all cultures; Exotic mouth-watering tropical fruits - Big Yes; Nice beaches, Cool highlands, Great cities; Warm, friendly and beautiful people; politically stable; foreigner-friendly; no utopia though - occasional hiccups are to be expected. That should make your stay interesting.
6. Does it allow you to work in Malaysia? What about doing unpaid charity works? MM2H Visa holders and their dependants are not permitted to work in the country except if the holders have unique skills which Malaysia needs. However, all MM2H visa holders are allowed to invest in the country. Or, to do gratuitous/unpaid charity works provided the Malaysian Immigration Department is informed.
7. Does it allow you to bring in your spouse and children? Yes, MM2H Visa holders are allowed to bring in their legal spouses, and their unmarried children who are below the age of 18.
8. Does it allow you to buy residential property? Yes, but it is not compulsory: Each foreign under this programme are allowed to buy 2 units of residential properties each above RM250,000 (above RM350,000 if in the state of Sarawak). This is 1 unit more than ordinarily allowed under existing FIC (Foreign Investment Committee) Rules.
9. What are the terms and conditions of applications? Applicant - no age limit; but age determines his financial requirements: if below age of 50, must open a RM300,000.00 Fixed Deposit (FD) account with a local Malaysian bank for at least 1 year; after which RM240,000 may be withdrawn for house purchase, medical and children education and the balance of not less than RM60,000 must be maintained throughout the period of validity of the MM2H visa. If age 50 or above, RM150,000.00 FD account with a local bank is required of which up to RM90,000.00 may be withdrawn after 1 year for house purchase, medical and children education and a balance of not less than RM60,000 must be maintained from 2nd year onwards throughout his MM2H stay. In lieu of the RM150,000 FD requirement, suffice if an applicant age of 50 or above can furnish proof of monthly off-shore income of RM10,000. (Remarks: The FD requirement - to put in FD the stipulated sums for at least 1 year - is 1 way to ensure that only the cash rich expats (not speculators, real estate or otherwise, who acquire local assets more on local bank finances rather than his own wealth) are attracted to the MM2H scheme)
   
10. Do you need a sponsor? From April 2006, a sponsor was no longer needed.
11. What about insurance coverage and medical report? Yes, a medical insurance valid in Malaysia and a medical report from a recognised medical institution are needed.
12. What are the incentives that come with it? Apart from being allowed to buy 2 residential houses as aforesaid, successful applicant also enjoys 1) Car Tax Exemption in bringing in 1 personal car from abroad or Excise Duty & Sales Tax Exemption for purchase of 1 locally manufactured car - an incentive that even the locals do not enjoy.
13. What about education for your dependants? Yes, provided "Student Passes" are applied.
14. Taxation: Successful applicant will be bound by local tax law, systems, regulations and policies.
15. Security vetting: Yes, approval is subject to security vetting by the Malaysian security agency.
16. Application procedures: Application may be made while you are in the country on a valid pass. Upon approval, the MM2H visa will be issued to you in Malaysia. [Alternatively, you may apply under this route: "...the applicant can actually apply for his MM2H visa while still overseas; he only needs to arrive in Malaysia when his application is approved, and he has 6 months do this. Upon arrival, he has to open the fixed deposit account, take a medical test, buy his insurance cover, and make a visit to the immigration department at Putrajaya to have the visa endorsed in his passport...." per Licensed MM2H Agent Matthew Yeoh (of DRI Group) in his comments (pl see below)]
17. Approving authorities: Applications can be sent directly to: The Licensing Division, Ministry of Tourism Malaysia, Level 33, Menara Dato' Onn, Putra World Trade Centre, 45 Jalan Tun Ismail, 50695 Kuala Lumpur, Malaysia. (Note: Applicants who wish to stay in Sabah/Sarawak should forward applications to the Director, State Immigration Department of Sabah / Sarawak);
18. Can You Apply Personally or Through Unlicensed Party? No! Effective June 1, 2007, all MM2H applications are to be submitted through licensed MM2H agents - there are currently about 178 of them. All are bound by "dos and don'ts" stipulated by their licensing body - the Ministry of Tourism of Malaysia.
19. Fees payable: RM 90/yr is payable for a MM2H Social Visit Visa/Pass - RM900.00 for a 10-yr visa
20. Understandable restrictions you ought to know: Participant are not allowed to be employed anywhere in Malaysia nor involved in activities deemed sensitive to local people or a threat to the security of Malaysia.
21. Is Financing Available for Purchase of Houses Under MM2H? Yes, at least 1 bank I know of offers this mortgage plan: a) Margin of Financing - up to 80%; b) Loan Tenure - 5 to 20 years or, up to 70 years of age; c) Loan Amount - RM250,000 and above; d) For Completed Residential Properties with Certificate of Fitness for Occupation; e) Interest Rate: Base Lending Rate - 1.4%. For more info, please call this bank at: 1 300 880 900
    

Should you need further information or help for introduction of a licensed MM2H agent or of residential houses to bjuy under the MM2H programme, please feel free to drop me an email. I will invite some MM2H agents to pose comments on this post and their services if time permits.

Cheers,

Douglas (Updated on 30 June 2008)

CEO/Principal

GT REALTY, 22-B, Jalan 19/36, 46300 Petaling Jaya, Selangor, Malaysia.

Email: tanhalim1@gmail.com; tanhalim1@yahoo.co.uk

(Disclaimer: While every efforts are made to provide accurate information, the author does not and could not warrant 100% accuracy. Reliance on any or all of the information is at the readers' discretion and risks. The author cannot be held liable for any loss or damage howsoever suffered in consequence of any reliance on the information provided herein in good faith.)

Calling Multi-Nationals & Expats: 2 Months' Free Stay at Mont Kiara, Kuala Lumpur

Dear Expats & Multi-National Corporations,

There is something special about Mont Kiara: When you stay there, people know that you stay in the BEST address & enclave for the expats in Malaysia! No kidding, just ask around and many discerning expats can vouch for it.

This is another good news from Mont Kiara: A developer with a tradition for excellent hospitality service (if you've been its panoramic Swiss Garden (Damai Laut) Beach & Golf Resort) now offers all respectable tenants:

• 2 months' rental free stay (in either duplex penthouses or single-floor condo apartment units) over and above the usual term of tenancy (1 yr or more) at its newest jewel-condo for fine living within 500m of Solaris Mont Kiara with comprehensive facilities and value-added features which you can judge as follows:

1) The Facilities:

• 24-hour Top Notch Security;
• Swimming & Wading Pool;
• Jacuzzi
• Lounge;
• Saunas - Male & Female;
• Cafeteria;
• Convenient Shop;
• Multi-Purpose Hall;
• Gymnasium;
• Squash Court;
• Kindergarden/Childcare Service;
• Launderette;
• Changing Rooms - Male & Female;
• and more...

The Value-Added Features:

• Centralised Monitoring system using SCADA;
• Smart Home features;
• Home Alarm System;
• Video Intercom;
• Emergency Panic Button;
• Smoke Detector;
• Air-con Points with Concealed pipings;
• Electronic Card Access System;
• Emergency Back-up Electric Supply;
• Perimeter Fencing with Sensor Beam;
• High Speed Internet Broadband ACCESS;
• SMATV point with ASTRO (satellite TV) wiring ready;
• Hot & Cold Water Piping;
• Rain Water Recycling System;
• Clothes Dryer to Individual Unit;
• Natural Gas Supply

No of Block: 1 block (2 wings); No. of Units: 210; No of levels: 20 (16 storeys + 4 levels of car parks); No. of lifts: 6 (3 for each wing); No. of stair cases: 6.

No. of Car Parks: 2 covered car parks for standard unit; 3 covered car parks for penthouses.

Maintenance Fee: RM0.23 per sq. ft.

Available for Immediate Occupancy.

Rentals (plus 2 months' free):

1. Standard Units: 1,315 to 1,996 sf/ 3 to 3+1 rooms/ RM4,300 to RM6,500 per mth;
2. Duplex P/houses: 2,353 to 3,380 sf /4+1 to 5+1 rooms /RM8,500 to RM11,000 pm. (all rentals are inclusive of maintenance fee and sinking fund. Tenant to bear own utility charges such as for water, electricity, telephone, sewerage and the likes as well as stamping fee)

Terms of Payment:

• Rental Security Deposit: 2 Months' Rental;
• Utility Security Deposit: RM2,000 (minimum);
• 1 Month Rental in Advance

Hurry, Mont Kiara latest jewel welcomes your visit and stay. For further information or viewing, please contact:

Mr. Douglas GT Tan (E 1579)

GT REALTY, 22-B Jalan 19/36, 46300 Petaling Jaya, Selangor, Malaysia.

Tel: 603-7958 8821 / 012-288 6993; Fax: 603-7958 7821

Background info on GT Realty E(3) 0698: http://groups.yahoo.com/group/gt_realty_kl/

(P/s: Owners of other Mont Kiara properties are welcome to list with GT REALTY)

Malaysia's Unprecedented Petrol Price Hike - A Whooping 41% Increase Amidst Skyrocketing Rice and Food Prices!

Dear All,

On June 4th 2008, the Malaysian Government announced, among others, that the Malaysian petrol pump price will go up 78 sen from RM1.92/litre to RM2.70/litre - a whooping 41% rise effective June 5th 2008.

It was reported that the new policy carries a 30 sen subsidy to the market price of Malaysian petrol (currently deemed at RM3/litre). And this 30 sen subsidy will be maintained every month when monthly review/adjustment is made to the petrol pump price: so that if the market price for petrol is, say, RM3.30/litre next month, the pump price will be adjusted to RM3/litre (i.e. RM3.30 less 30 sen); but, if the market price is RM2.80/litre, the pump price will be lowered to RM2.50/litre for that month.

The question of great public interest is therefore: How is this market price of Malaysian petrol arrived at - both for June 5th 2008 and every monthly review thereafter - to calculate the petrol pump price? What is the formula used? Will it be made known to the public?

Two other features of the new petrol pump price policy that many Malaysians may have mis-givings are:

1) Foreigners who drive their cars into Malaysia will (correct me if I'm wrong) also enjoy the 30 sen petrol subsidy. Why are we allowing this to happen? Why can't we plug this financial leakage and use the money for the benefits of Malaysians? The subsidy to the foreigners must stop!

2) The rebates to be given to the Malaysian private car owners appear to be not limited to 1 private car per owner - no matter how many private cars he/she owns. That means to say if a rich Malaysian owns a few private cars, say 5 cars, that qualify for cash rebates - in terms of car capacity and type (pick-up, jeep, etc.) - each of his/her 5 cars would entitle him/her to receive cash rebates. This appears to be subsidising the rich more than it should quite contrary to earlier public statements that the subsidy would only go to the poor and the lower middle income - the needy!

I am of the view that for every Malaysian who owns more than 1 private cars that qualify for cash rebates, only 1 of his many private cars entitles him to the cash rebate! It is not right at all that the more private cars he owns, the more cash rebates he recieves! The current policy is therefore seen as favouring the rich!

Another feature that the Malaysian public may not be happy about is that the policy is blatantly inflation-fuelling or pro-inflation. Why couldn't a more subtle, sophisticated or inflation-neutral approach be used?

Such an approach can involve smart chips in MyCards as suggested in my earlier posting. That approach could maintain the current petrol pump price of RM1.92/litre up to a certain litres/qouta a month for each Malaysian private car owner (regardless of how many cars he/she owns) beyond which the full market price applies. The beauty of such an approach are, namely:

• that it gives less legitimacy/reason for others to hike their prices - it is therefore not inflation-fuelling; rather, it is inflation-neutral;
• that it ensures zero subsidy for foreigners - no financial leakage/wastage;
• that no matter how many private cars a rich Malaysian owns, he enjoys only the same amount or quota of subsidised petrol just like the average or poor Malaysian private car owners;
• that the rich enjoy subsidised petrol mainly in theory only. In practice, the rich would most probably not enjoy any subsidised petrol at all because the rich would most probably not bother to give their MyCards to chauffers to slot into petrol pump readers just to enjoy subsidised petrol for say only 200 litres out of probably more than a thousand litres their many cars easily used every month. But politically, at least, the rich are not in theory and wouldn't in practice feel being discriminated on subsidised petrol entitlement!
  

The MyCard approach or its conceptual equivalent deserves serious reconsideration.

Anyway, what can the Malaysian real estate marketers do now to cushion the unprecedented 41% rise in core expenses of their livelihood? My 2-sen suggestions:

• Focus on marketing real estate near to where you live or where your office is located. Do not spread yourself too far and wide unless it is a high-ticket deal;
• Devote day-time to offline real estate marketing and night-time or free-time to Internet Marketing (http://www.gt-ibiz.com/ can help you on this - just use your credit card to pick up an affordable web hosting package with free site builder (won't be more than RM250) and start acquiring life-time Internet marketing skills now) or other secondary income sources you can think of;
• that you plan your trips to prevent unnecessary petrol wastage;
• that the 5% Service Tax threshold be raised from zero to say RM2.5 million - if the association for restaurants and eateries can raise theirs from RM500,000 to RM5 million, is there any reason why the threshold for professionals should be lowered to zero recently? Aren't resource-rich Malaysians being subjected to far too many sources of direct and indirect taxation - tolls included. Professional associations must work just as hard on this!
• that our professional fee be increased with urgency since the prices for many items have increased a lot for the past 1 year and will continue to rise sharply in days and weeks to come;
• that the proposed TNB tariffs hike in July (next month) should be aborted. Why shouldn't TNB that made good profits for the past few years be asked - just like the school bus operators, hawkers, etc. were asked - not to hike its tariffs following the unprecedented price hikes? TNB's financial wellbeing should not be considered as more sacrosanct than those of the ordinary traders and commercial entities.

For the general wellbeing of the people everywhere, shouldn't utilities essential for livelihood/earning a living such as water, electricity, fuels, sewage disposal should be nationalised instead of privitised for commercial gains? Shouldn't the governments the world all over provide these basic utilities at costs to their citizens and their local businesses so as to keep their local costs of living and doing businesses down and therby improve their purchasing power, profitability and hence quality of life as well as taxation accrued to the governments?

When costs are high, profits are low or in the red, giving tax reliefs are not helpful at all to those aggrieved by the unprecendented price hikes.

The next few days and weeks will be interesting to watch as the unprecedented petrol price hikes amid skyrocketing rice and food prices bite into the livelihoods of ordinary folks. We can only pray for goodsense and wisdom to prevail over this once blessed country of ours. Perhaps it's time now to form and activate a special Crisis Management Team that will meet daily for strategies to combat the prevailing skyrocketing prices of fuels, foods and almost everything - lest our beloved country may never be the same again!

Views and comments, please.

Douglas.
(2nd Update dated June 16, 2008)

My Little Thots on Petrol Subsidy Issue and Suggestions for Revamp.

Dear All,

How will real estate marketers who need to travel a lot be affected when the government revamps its approach on subsidised fuels (petrol, diesel and LPG for others) soon?

With the world's crude oil price crossing US$125 per barrel, the review is inevitable. It is only a matter of time that this will happen.

However, my view is there are a number of measures that the Government can take so that the poor will continue to be helped and at the same time the rich will not feel being discriminated.

This twin objective, I believe, can be achieved through the clever use/programming of the smart chips in Malaysians' MyCards as follows:

1. that subsidised petrol and diesel shall no longer be enjoyed by any foreigners - those without MyCards to slot into the pump's card-readers shall pay unsubsidised price for fuel - petrol, diesel or LPG;
2. that only MyCard holders - i.e. individual Malaysians (not firms) regardless of income levels - who own motorcycle(s) or vehicle(s) (motorised boat(s) included) shall enjoy subsidised fuels up to a certain litres a month: a) say, not more than 50 litres/mth for every owner of motorcycle(s), no matter how many you own; and, b) say, not more than 200 litres/mth for every owner of vehicle(s), no matter how many you own; beyond which unsubsidised prices for fuels shall apply and the limits are subject to reviews depending, among others, on the amount of Malaysian's net export in petroleum and the world's crude oil price;
3. that if you are a Malaysian owner of both motorcycles and vehicles, your entitlement to subsidised fuels per month shall be the same as that of a Malaysian car(s) owner i.e. at not more than 200 litres/mth;
4. that any unused entitlement or balance thereof for any month cannot be carried forward or accrued for subsequent months or use - they are 'burnt off' at the end of every month.
   

JPJ records can be used to programme the smart chips in MyCards for this purpose so that each time petrol, diesel or LPG are bought at fuel kiosks/stations, those who qualified for subsidised fuels can slot their MyCards into the card reader in addition to credit cards, bonus link or petronas mesra, etc.

Once your entitlement for subsidised fuels for the month is reached, you pay unsubsidised rate for the rest of the month until your new entitlement arrives in the ensuing month.

This approach ensures that the poor are helped and are minimally affected, if at all, and the rich who pay taxes at higher brackets are not being discriminated from equally enjoying the benefits of their country's natural resources.

Foreigners too should have no complaints because when we Malaysians go to their country, say, to study thereby enjoying some subsidised education, they too ensure that we pay for it through employment bonds; when Malaysians own properties there, Malaysians pay 10% more in Property Tax (PT) by way of PT surcharge, when Malaysians drive into their country, Malaysians have to pay a certain levy presumably for clogging up their roads, Malaysians never pay the same tax rates as the locals anywhere...

So, it is normal for Malaysia's subsidies whether for fuels, foods or any controlled items to be enjoyed by Malaysians only. Many countries have long ago observed and practised this principle. It's certainly time that Malaysia do the same.

What you think, folks?

Douglas.

Registration of Negotiators - the Pros & Cons (3rd Update)

Hi Folks,

I was recently invited to attend a "forum" to give my views on the issue of "Proposed Registration of Negotiators". As due to some unforeseen events, I could not attend: this post became my 'transparent' contribution to the aforesaid issue - it was meant for the real estate agency fraternity:

"The following sub-issues, in my view, are relevant when we look at the main issue of "Proposed Registration of Negotiators" for Malaysian real estate agency practice:

1) Comparative Studies: What happens in other professions? Are the assistants of the other professionals (doctors, engineers, lawyers, accountants, etc) similarly subjected to a system of registration? If so, by which body - their statutory governing bodies, their duly constituted professional associations or an independent 3rd party? If the assistants of the other professionals are not subjected to any system of registration, why the assistants (a.k.a the Negotiators) of professional real estate agents in Malaysia must be subjected to one? Is there any urgent or compelling mischief out there that must be expeditiously addressed and remedied through such a proposed system of registration when there are many other mischiefs - bogus agents, licence-leasing, non-compliance with salary, compulsary EPF and Socso contributions and 40% commission ceiling for RENs, non-submission of Negotiators' Lists...etc. which require our focus and remedial actions? Are we not opening an unnecessary new front to further distract our focus and drain our limited resources?

2) Present Practice: What is wrong with the present practice of "submission of Negotiators' Lists"? Isn't it good enough to address/remedy the mischief, if any? If not, why not improve / fine-tune the present practice - introduced some years back by way of 2 Circulars of the Board - instead of introducing a system of registration which I presume to be similar to the present system of registration - introduced by statutory provisions of the BVAEA 1981 - of REAs (since the same word "registration" is being used), such fine-tunings as requiring:

• that reminders / warnings be sent when the RENs' Lists are not received; or,
• that all RENs' Lists are to be sent only by Recorded Delivery (AR Registered, Courier, Pos Laju, etc.); or, alternatively requiring that submissions of RENs' Lists be done only when:
• a) registering estate agency firms or changes to their business addresses;
• b) renewing yearly registration of firms; and/or
• c) whenever there is any change to the Negotiators' Lists (RENs' Lists) - thus, doing away with the present practice of half-yearly submissions of RENs' Lists even when there is no change to the Lists?
• that solid safeguards be introduced to prevent or minimise corruption/abuse of administrative powers - for example, licence-leasing or rules-breaking REAs who have pending Court cases bribing or using their "connection" to do backdoor filing or retrospective submissions of RENs' Lists which they failed to file in the first place at the material stipulated times must never be allowed to happen to subvert the course of justice - such as: by requiring that all RENs' Lists and their updates be filed with an incorruptible independent depository (Auditor General's office or ACA) within a specific timeline; and, by appointing a person of highest integrity to administer and maintain the "Register of Negotiators" on a non-renewable tenure of, say, not more than 5-year for a very obvious reason.

3) Which Body Should Do It? If a system of Registration of Negotiators is to replace the existing practice of "submission of RENs' Lists", which body should rightfully do it? Shoud it be the Board, the MIEA or a third party independent body (e.g. an independent auditors' office) not consisting of any rival practising REAs who can then have access to the information/contact details of Negotiators of other REAs totally avoiding any conflicts of interests, unhealthy windows of opportunities for abuse or unethical discreet staff-pinching altogether?

4) Will "Registration of Negotiators" Make a Negotiator an "Independent Contractor" - Instead of an Employee - Working For REA(s)? Presently, under our estate agency law, a Negotiator works for a REA as an "employee" under a "contract of service" instead of as an "independent contractor" under a "contract for service" as under our existing law it is compulsory for Negotiators:

• to be paid a monthly salary (Circular 1/2000);
• to be paid EPF contributions (Circular 2/96);
• to be paid Socso contributions if eligible (Circular ?)
• to work full-time and not part-time (Std 9.2.3);
• not to work independently of the REA firm (Std 9.2.2);
• to work under the REA's direction and supervision (Std 9.2.1 and defn. in MEAS 1999);

and, that the employer REA has to,..., at all times, accept FULL responsibilities for the actions of his Negotiators (Std 2.3.5).

How will this "registration of Negotiators" - if the registration also necessitates passing certain competency examinations and experience - impact or change the whole scheme of things including vicarious liablity of the employer-REA for the actions of his Negotiators?

These are the sub-issues which I have identified in this 3rd update to my original posting. Please identify more as well as offer your critical views on all or any of them.

Together, let's contribute towards a better profession tomorrow...Stay tuned for more!

Douglas GT Tan

Command of Languages and Global Competitiveness

Dear All,

In the recently concluded "Pan-Commonwealth Conference on Professiona Services Trade - Enhancing Global Competitiveness (Feb 19-21, JW Marriot, KL)" where some 80+ delegates from 30+ Commonwealth countries were among the 300+ delegates (of which I was one) present, the remarks by some distinguished speakers dawn upon me (and surely upon the many influential policy makers present there too):

• that a good command of English is important for global competitiveness: 2 of the speakers even mentioned that they would not have been the success stories that they are today had they not been competent in English.

That made me wondered whether it was for that reason that Maths and Science were taught in English for our Malaysian schools kids since some years back; but there are now calls for a review of this policy, to restore status quo ante...going back to the same old days. If that happens, will Malaysians' global competitiveness be affected in years to come?

If I have my way, apart from English, I would also want our Malaysian kids to be proficient in one or two other global languages (Mandarin included). Of course, as Malaysians we must all be proficient in our National language. The right and progressive balance must be struck for all Malaysians to be confident global players that add value to themselves and our country!

Views, please?

Douglas GT Tan

Registered Estate Agency Is Required By Law To Have Adequate Professional Indemnity Cover

Hi Folks,

Do you know that Malaysian Estate Agency law further protects you by requiring every registered estate agency firm - please see: Standard 2.2.13 - to have adequate professional indemnity cover?

You are only protected if and when you use the services of registered estate agents. Just like when you use a taxi, you are only protected by insurance if you use a legal taxi with mandatory insurance cover. Never use a bogus taxi or a bogus agent - for this obvious reason!

The real estate agent's professional indeminity insurance cover is against any claim for breach of professional duty which may be against the registered estate agent and/or their employees and Agents by reason of any Negligent Act, Error or Omission including the costs and expenses incurred in the defence or settlement of any claim.

The minimum cover is RM100,000.00. For a cover of RM250,000.00 for gross fees up to RM5,000,000.00, the insurance premium paid by the agency was more than RM1000 per annum. This amount just to protect you the consumers of professional services!

So, why use a bogus agent or its loosely-attached operatives who can all easily 'fly by night' with your money when you should use legal real estate agents and/or their employees or Agents whose details are all submitted to the relevant statutory Board (i.e. Board of VAEA) for its record and whose insurers are there to indemnify you against the risks mentioned?

Professional Indemnity Cover is therefore yet another reason why the Public should avoid the bogus agents or their 'gung-hoo' operatives.

It is Always Wiser to Use Services of Legal & Registered Estate Agents!

Cheers,
Douglas GT Tanhalim

Non-REAs Not Allowed By Law to Participate for Profit in Real Estate Agency Practice of REAs

Hi Folks,

When the Malaysian Real Estate Agency law sets out to protect the public from being served directly by non-REAs by introducing a system of registration of qualified people as REAs (Registered Estate Agents), the law is equally careful enough to ensure - through its legal provisions - that the public is not served even indirectly by non-REAS through some back-door arrangements.

Among the legal provisions to prevent back-door practice of real estate agency in Malaysia by non-REAs are Rule 91 and Standard 5.2.17.

Rule 91(1) prohibits Participation In the Profits of REA’s Practice by any Non-REA; whilst Rule 91(2) allows payment of a share of his commission not exceeding 40% to a member of his staff - whom Standard 9 termed a Negotiator - who is under his control and supervision to assist an REA in his real estate agency practice.

Rule 91(2): Notwithstanding Rule 91(1), a REA may pay a commission to a member of his staff who is under his control or supervision not more than 40% in aggregate of the fee in the transaction.

Again, to prevent "back-door" practice of estate agency by various illegal means (licence-leasing, sub-letting, etc), Std 5.2.17 unequivocally disallows any unauthorised person to carry on estate agency practice in the REA’s name without the REA’s direct and immediate control or proper supervision.

As it is now, the Malaysian Estate Agency law, as far as my understanding goes, disallows any non-REA from participating for profit in the practice of real estate agency in Malaysia in cohort with any Malaysian REA - non-REAs cannot even take up or subscribe for a minority stake in the equity of any registered estate agency (REA) firm of Malaysia.

Only a Negotiator who is duly employed as per, among others, Standard 9 of the Malaysian Estate Agency Standards 1999 or REA firm which enters into a legally binding co-agency agreement may be paid an agreed share (of not more than 40% for a Negotiator) of the commission earned from any deal assisted by the Negotiator or co-broke with the co-agent.

See, how strict it is the Malaysian Estate Agency law in protecting the public from being served by unqualified parties, "fly-by-night" opportunists, rogues and, in short, illegal real estate agents.

Deal only with Registered Estate Agents of Malaysia and their legally employed Negotiators - say NO to Illegal Estate Agents and Property Marketers in any disguise, forms or veils.

Cheers,
Douglas GT Tan

Recognised Qualifications for Registration as Real Estate Agents of Malaysia

Hi Folks,

Happy New Year 2008!

It's time to get cracking: eight days have passed since the new year dawned.

For fellow Malaysians, the early good news was that the Malaysian government was kind enough not to raise fuel prices for the time being (for as long as it could afford, so it was reported in the press).

But one thing for sure, crude oil price has gone past US$100/barrel; families with school going children must have also discovered by now that although the government has kindly waived all school fees and loaned all school children with free text books, families are ironically paying much more education fees than before: the list of PTAs(Parents-Teachers Associations)-imposed miscellaneous fees have gotten longer, causing the total quantum to go up on top of a separate list of "extra-curricular" text books and work books that children must buy (with cheques payable to a certain book store outside); there was also the irony of cooking oil shortage nationwide which the government has acted to resolve.

The average or low-income families, the way I see it, hoped that the authorities would play its watch-dog role for them by auditing (approving or disapproving) all PTA-imposed fees and their accounts, bread-winners of these families must also play their part by working doubly hard (2 jobs even like many in a southern republic) and smart early from the new year... You never know what other prices will go up shortly...

So, it's time to get cracking - the early the better for all families!

That aside, in my first post for this year, I want to give you the link which you can click on to check on the qualifications recognised for registration as estate agents or even valuers of Malaysia - as a follow-up to my post of Nov 9 2007 where I mentioned that "...only persons who meet the requirements stipulated in Secs 22A (& 22D) of the VAE Act 1981 shall be entitled for registration as real estate agents and be issued with the authority under Sec 16 to practise real estate agency" as the 1st safeguard the Malaysian Estate Agency law provides to protect public interests via a system of registration of duly qualified persons...

I suggest that all who are currently eyeing Malaysian estate agency business, do check your qualification(s) and eligibility out to avoid running foul of the Malaysian real estate agency law!

Visit this blog often to know more.


Cheers,
Douglas GT Tan

P/s:
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