New laws covering urban renewal and rental agreements in the works, says Nga

The Star

The Housing and Local Government Ministry aims to table six bills within the next three years, including the proposed Urban Renewal Act and Residential Tenancy Act.  During a half-year report presentation on Friday (Aug 2),  Minister Nga Kor Ming announced that the Urban Renewal Bill would be tabled during the first parliamentary meeting next year.  Nga also highlighted that from January to June, the ministry restored five abandoned projects and 247 sick projects, with a total gross development value of RM19.13bil.  Read more at https://shorturl.at/5O4x5  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00Task Force Project Perumahan Swasta Sakit dan Terbengkalai.

00:04Setakat ini, everyone knows that, since I was given the task to work with NKPKT,

00:14together with Dato' KSU, we have set up a special task force,

00:18led by our Deputy Minister, before that was YB Ahmad, now it's Dato' Aiman,

00:24where we have completed 704 projects this morning.

00:33Projects that I inherited from the past.

00:37Where the GDP is very high, 58.94 billion.

00:43But more importantly, you may ask how many homeowners have we managed to save?

00:49More than 80,000 homebuyers finally see the lights at the end of the tunnel.

00:59This is very, very important. It will be a game changer for the country's city landscape.

01:06First, the renewal of the urban renewal act.

01:16Hopefully, God willing, by 2025.

01:20Where we are now, the guidelines have already been approved by the Prime Minister.

01:28Why do we need this renewal act?

01:31Now, there is a problem. I'll give you an example.

01:34In KL, there are a lot of flats that are very bad and dive.

01:38Always appear in your paper, right?

01:41But our hands are tied.

01:43We are not able to rebuild.

01:47Because of the current act, Act 757, Section 57, Section 6,

01:54said that you have to get 100% consent threshold before you can be allowed to rebuild the building.

02:04I'll give you an example.

02:06In a condominium, there are 500 units.

02:10499 owners agree to start a business.

02:15One person doesn't want to.

02:17It can't be.

02:18So, do you think it's fair?

02:21Do you think that fellow's interest prevails over the other 499.9%?

02:26But this is exactly what is happening now.

02:28That's why the PM and the KPKT are doing their own research.

02:34We do the best comparative studies with Hong Kong, Shanghai, Tokyo, New York, and the rest.

02:41We found out that the highest consent threshold under urban renewal, the highest is Singapore.

02:48Any building below 10 years old is 90% consent threshold.

02:51Any building above 30 years is 80% consent threshold.

02:56Whereas, for Tokyo, it's only 60%.

02:59Shanghai, two-thirds majority.

03:01Only Malaysia, 100%.

03:04This makes the entire cities old, dilapidated.

03:09Secondly, the RTA, Rent Tendency Agreement Act.

03:15Now, many people are complaining.

03:18There are also issues with rent, mortgage, and renovation.

03:25But there's no specific act to protect the tenant as well as the owner.

03:30Let me be fair.

03:32This ministry, we don't cite anybody.

03:35I'm sitting here in the middle, always listen to both sides.

03:39Everybody, we listen.

03:41KPKT has a three-open policy.

03:44What is the three-open policy?

03:46Open door.

03:48Open mind.

03:50Open heart.

03:51We listen.

03:52That's why after meeting you now, I'm going to see Maria.

03:57The Malaysia Strategic Alliance for Circular Economy.

04:00Plastic manufacturers, they are coming to see me at 11 o'clock.

04:04We meet everyone.

04:05I'll give you an example.

04:07We are just one to be fair.

04:19Let us be fair.

04:21The word fair is very important.

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