Datuk Chang Kim Loong: Our contention is, this fee for a standard form has been charged since 2013. Surely, such costs must have been amortised over the years. Must the banks continue to profit from the sale of forms? Isn’t their major source of income derived from giving out loans?

Datuk Chang Kim Loong: It is still very difficult to understand why taxpayers’ money is being “sacrificed” to facilitate the niche market buyers and for the benefit of the housing developers, because that is exactly what is being done here.

HOC has been well sought after by purchasers due to its attractive incentives. 

In a document sighted by EdgeProp.my, the letter stated that MoF has agreed to extend stamp duty exemption on Instrument of Transfer and loan agreement to December 31, 2021 from May 31, 2021 when purchase of residential property registered under HOC 2020 / 2021.

Soam raised the concerns on the delay of construction works due to the reinstatement of the MCO.

“Always show up at your AGMs and EGMs. Don’t think that, I am just one parcel owner, I don’t have any say in the decisions made.”

The mismanaging, misuse and abuse of sinking funds is not something new. The Commissioner of Buildings (COB) is currently investigating several cases of abuse of funds although the details cannot be revealed as of now.

Teo's contribution to the nation has also caught the attention of the Housing and Local Government Minister Datuk Hajah Zuraida Kamaruddin, who describes him as an exemplary and responsible developer who did not hesitate to contribute back to society. 

Losing him is like losing a pillar of support, said Rehda president Datuk Soam Heng Choon

Chairman Datuk Ho Hon Sang cautioned against the closure of economic activities, saying it could cause "serious revenue and financial losses" and "disruption to all industries and to the livelihoods of many".