Rehabilitation of Abandoned Housing Projects of Housing Developer Companies under Receivership in Peninsular Malaysia: Some Salient Issues and Suggestions

Dahlan,; Hilal, Nuarrual

doi:10.2139/ssrn.3392993

Cited by 7 publications

(6 citation statements)

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“…It will also cause the inability to the purchaser to make any other loan by all bank in Malaysia [19]. Even worse, purchaser cannot claim any payment paid to the developer, they have no ability to revoke the SPA, cannot take legal action to against problematic developer and no compensation so they have to own fund to rehabilitated the abandoned housing [20].…”

Section: Impact Of Abandoned Housing Projectmentioning

confidence: 99%

Assessment On Abandoned Housing Project: Impact and Revitalization in Malaysia

Salam,

Ariffin,

Ali

et al. 2023

IJIE

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The housing development sector was a key factor in the growth of Malaysia’s economic income since 1970s due to rapid urbanization. Unfortunately, housing construction in Malaysia still facing the abandonment issues due to financial constraints and many other factors. Abandoned housing project give a huge impact to the environment and socio economic to the stakeholder involved directly or indirectly. The purpose of this study is to overview the impact of abandoned housing project and to study the best solution in preventing the issues. Through extensive literature review from previous study and semi-structured interview session with 10 expert panels, several factors and impacts had been listed. Aqualitativeresearch methodology was conducted for data collection through anextensive literature review, semi-structured interviews and discussions with expert panels. From the discussion, the abandoned housing project give an impact to all parties and the proper financial management, amend the development concept, study the market signal properly, amend the initial policy of housing development and finally takeover the problematic development by the governmentis the best solution in preventing it.

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Section: Impact Of Abandoned Housing Projectmentioning

confidence: 99%

Assessment On Abandoned Housing Project: Impact and Revitalization in Malaysia

Salam,

Ariffin,

Ali

et al. 2023

IJIE

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“…Thus, the criminal offence of abandonment of housing project merely acts as a deterrent rather than directly rendering any assistance for rehabilitation of the uncompleted housing project which has stalled. According to Md. Dahlan (2012, p. 406), the criminal measure may not even be preventive in the face of ineffectual implementation and enforcement of the law.…”

Section: Housing Development and Abandoned Housing Projects In Penins...mentioning

confidence: 99%

Rehabilitation of abandoned housing projects in peninsular Malaysia: reaching out to rescue mechanisms in the companies act 2016

Chen

Azmi

Rahman

2022

JPPEL

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Purpose In response to the housing needs of its people, Malaysia has allowed private housing developer companies to build houses on a sell-then-build basis. Despite having legislation designed to protect the interests of purchasers, insolvent housing developers have left behind many uncompleted housing projects with their land charged to financial institutions. Consequently, the affected purchasers will lose their houses when those financial institutions foreclose on the land in the housing projects. In addition, those purchasers remain legally obligated to repay loans taken to finance their house purchase. The housing development laws lack provisions to rehabilitate abandoned housing projects. The purpose of this paper is to explore the viability of rescue mechanisms in the Companies Act 2016, being corporate voluntary arrangement (CVA), judicial management (JM) and schemes of arrangement (SOA), to aid in the rehabilitation of abandoned housing projects in Peninsular Malaysia. Design/methodology/approach Doctrinal research is adopted in this paper. Findings This research highlights the flexibility of the SOA as a tool to rehabilitate abandoned housing projects. This research also reveals the potential of CVA and in particular, JM with its “public interest” feature, as useful rehabilitation mechanisms once the proposed reforms are adopted. Originality/value The authors are hopeful that the suggested reforms will enhance the value of all three rescue mechanisms as rehabilitation tools for abandoned housing projects so as to alleviate the plight of house purchasers.

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“…3, No. 2, 2020 e-ISSN: 2636 -9419 Finally, the most popular and seemingly perennial genesis of abandoned housing projects in Malaysia is the private developers (Abdul Razak, Abu Samah, & Abdul Wahab, 2016;Ariffin et al, 2018a;Dahlan, 2006;Doraisamy, Akasah, & Yunus, 2014;Hoe, 2013;Khalid, 2010;Mumin & Zainol, 2016;Norhayate et al, 2017;Yusoff, Oseni, & Hasan, 2016). According to Khalid (2010), the developers in the first place are striving to maximize their gains and profits from selling the house.…”

Section: Causes For Abandoned Housing Projects In Malaysiamentioning

confidence: 99%

Understanding Abandoned Housing Projects in Malaysia and the Protection for Home Buyers

Mohamad

2020

Int. J. Is. Ec. Fi. Res.

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Abandoned housing projects is considered as one of the most common and serious issue afflicting the Malaysian housing industry given the numbers of housing projects involved. This situation is a nightmare as it affects the home buyers in particular. Among the initiatives put forward by the government to cater this issue is by the enforcement of provisions enacted through the Housing Development (Control and Licensing) Act in 1966. The Act provides control and licensing guidelines for the housing developers particularly on houses under construction in Peninsular Malaysia to protect the interests of the home buyers. In addition, the Act also introduced Tribunal for Homebuyers Claims under Section 16B as an avenue for the affected home buyers to claim for damages and compensation from the irresponsible housing developers. However, abandoned housing projects remains to be the subject of debate as the rights of the affected home buyers to own a house is seized and abandoned housing projects numbers are still recorded high in the statistic. This study aims to discuss the roots and impacts of abandoned housing projects towards the home buyers as well as the available protection for home buyers of houses under construction in Malaysia. Hence, this study adopts conceptual analysis of relevant literatures and a doctrinal legal research method. The authors also highlight certain lacunas in the existing protection and recommendation to strengthen the protection of home buyers in the event of abandoned housing projects in Malaysia.

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Rehabilitation of Abandoned Housing Projects of Housing Developer Companies under Receivership in Peninsular Malaysia: Some Salient Issues and Suggestions

Cited by 7 publications

References 0 publications

Assessment On Abandoned Housing Project: Impact and Revitalization in Malaysia

Assessment On Abandoned Housing Project: Impact and Revitalization in Malaysia

Rehabilitation of abandoned housing projects in peninsular Malaysia: reaching out to rescue mechanisms in the companies act 2016

Understanding Abandoned Housing Projects in Malaysia and the Protection for Home Buyers

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