Tested is working to amend the Housing Development (Control and Licensing) Act 1966 (Act 118) to address the issue of deserted housing projects and safeguard the interests of homebuyers. Deputy Local Government Development Minister Akmal Nasrullah Mohd Nasir defined that, under the present laws, liquidators appointed by the court to handle the affairs of a improvement can’t be held accountable for not completing deserted projects.
Nasir additionally mentioned that liquidators can impose a service charge based on the Companies Winding-up Rules 1972, which varies depending on the complexity of their role in managing the housing challenge. This has led to dissatisfaction amongst patrons. To tackle this concern, the ministry is holding engagement classes with relevant agencies and bodies, such as the Malaysian Department of Insolvency, Accountant General’s Department of Malaysia, and Insolvency Practitioners Association of Malaysia.
These sessions aim to collect insights and discover the best mechanisms for settling deserted non-public housing projects related to liquidators, including establishing a uniform cost charge price and liquidator’s charge..