A total of 20 housing development accounts (HDA) have been frozen by authorities over "sick" housing projects, says Akmal Nasrullah Mohd Nasir.
The Deputy Local Government Development Minister told the Dewan Rakyat on Tuesday (Oct 24) the decision to freeze the accounts was based on investigations that found the developers had neglected their responsibilities, which could jeopardise the interests of buyers.
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The Deputy Local Government Development Minister told the Dewan Rakyat on Tuesday (Oct 24) the decision to freeze the accounts was based on investigations that found the developers had neglected their responsibilities, which could jeopardise the interests of buyers.
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NewsTranscript
00:00 KPKT has taken action to freeze 20 HDA accounts for the project in the category of sick.
00:08 This freezing action is based on the investigation that indicates that the forwarder is negligent in his responsibility and can affect the interests of the buyer.
00:18 In addition, the forwarder can also be compounded up to a maximum of RM50,000 if he fails to fulfill his obligations as stipulated in Article 118 and the regulations.
00:31 As many as 200 have been issued for violations under Section 7(e) in 2022 and 2023.
00:39 Next, the KPKT through the Home Office always ensures that the forwarder is subject to the regulations that have been established in relation to HDA.
00:50 Among the actions taken, with the permission of Tan Sri, there are 4-5.
00:54 First, conducting a review audit to monitor the management of HDA by the forwarder is regulated and systematic,
01:03 such as collecting bank loan documents and request for payment to the buyer in accordance with the payment schedule in the purchase agreement.
01:12 Second, monitoring through the report of financial progress that was found by the forwarder in terms of the year-round and the statement of the correct action will be issued to the forwarder for improvement.
01:25 Third, limiting any request for money from HDA if it does not comply with Article 118 and its regulations.
01:34 Fourth, conducting a review session from time to time with the State Bank, Bank Association and other financial institutions to examine the HDA management procedures as done by the new Task Force.
01:47 And finally, improving the Housing Integrated Management System or HIMS to ensure that self-monitoring can be carried out by the forwarder.
02:02 My question is, are there any concrete steps that are being planned by the government to ensure that projects such as this hectare residency can be prepared in the near future?
02:16 The government's position is that the forwarder is obliged to prepare a housing development.
02:25 In this case, in the hectare residency, we have called for discussions, meetings with both forwarders and buyers, financial institutions and also the project site.
02:41 However, as YB mentioned earlier, there is a clear lack of financial strength in the forwarder.
02:53 Therefore, if we look at the second corner, which also mentioned the question of how the Minister of Finance has presented in 2024, namely the special insurance fund.
03:08 Meanwhile, I myself, from the KPKT, hope that this court can carry out a consultation so that we on the task force can help to assess sick or injured projects.
03:23 The priority or suggestion on how this special insurance can be used, we will present to the Ministry of Finance.
03:31 One of them is that the project that we want to help through this government's special insurance fund, the house is a house that can be owned for less than Rp 300,000.
03:43 We also suggest that the development of the project has exceeded at least 80% of the development level.
03:51 And also, we need to look at the housing program that is located under the government or the state authorities, which is actually more to the purpose of providing a house that can be owned, but also facing the risk of sick projects.
04:08 Thank you, Tan Sri Yandi Pertua.
04:10 [END]