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Parcel quit rent should be calculated based on market conditions, say stakeholders

National Chamber of Commerce and Industry Malaysia (NCCIM), Building Management Association of Malaysia (BMAM) and the Malaysia Shopping Malls Association (PPK): “…as the Malaysian property market has remained stagnant over the past few years, quit rent should reasonably be expected to mirror these tepid property valuations. Furthermore, increasing this levy could be untimely and adds to an already burdensome increase in cost of living.”

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