The family members of developers of abandoned housing projects may be barred from leaving the country in the near future, says Housing and Local Government Minister Nga Kor Ming.
He said it is one of the proposed amendments to the Housing Development (Control and Licensing) Act 1966 (Act 11), which would be tabled in Parliament next year.
Read more at https://shorturl.at/qR4ZM
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
He said it is one of the proposed amendments to the Housing Development (Control and Licensing) Act 1966 (Act 11), which would be tabled in Parliament next year.
Read more at https://shorturl.at/qR4ZM
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
Category
🗞
NewsTranscript
00:00Do we have anything new from this project to address the issue of Projek Terbengkalai and undersold houses?
00:30KPKT has saved 704 projects, which are undersold and undersold.
00:37The GDP value is RM58.94 billion.
00:43And the number of buyers who have now managed to get the keys that we have saved by the Ministry is 82,354 people.
00:53This is huge.
00:54We can build a stadium in Bukit Jali.
00:57And we have saved the project.
00:59So, of course, we are monitoring.
01:01And then we are taking proactive steps.
01:03We identify what's next to come in and then to help.
01:07That's all in the Ministry's initiative.
01:09And then we know what we are doing.
01:12Now, we also have a desire to move.
01:17The Proposal for the Development of Houses in 1966.
01:25We will also strengthen the conditions for the development of houses.
01:30For example, if the move is successful,
01:35any developers involved in fraud will be banned from traveling overseas.
01:46They will be blacklisted.
01:48I'm not going to blacklist them.
01:50I will blacklist their family as well.
01:52To ensure that the developers are truly honest in defending their rights.
02:05The Government to tighten its Housing Credit Guarantee Scheme criteria.
02:09They say the scheme should be limited to personal buyers and applicable to properties priced below RM300,000.
02:17What are your views?
02:19This is for first-home buyers.
02:22So, what is it to tighten?
02:25The existing scheme is also for first-home buyers.
02:29We have to ensure that we are already on the right track.
02:32As I mentioned earlier, we have already achieved 76.9%.
02:36Every Malaysian family owns a home.
02:38My dream is to reach 100%.
02:40So that everyone owns a home.
02:42Why is this so important?
02:44Because owning a house gives a sense of security.
02:48It is also a reflection of a living quality.
02:54Especially those who are good at investing in the real estate sector.
02:57Many of them create wealth through property investment.
03:03This is not the Government's duty to curb that.
03:06Because we already have real property gain tax to stop people from speculating.
03:11Never forget, you buy today, you sell, you are entitled to pay 30% real property gain tax.
03:17So, that is enough.
03:19We have a clear and comprehensive mechanism to stop speculation in the real estate sector.