News about court

At one time, the development sector found itself navigating through turbulent waters amid a dramatic surge in legal cases with estimated claims of a whopping RM48,819 million with respect to the EOT granted between 2016 to 2020.

Ranjan Chandran, a consultant at Messrs Hakem Arabi & Associates: “The ruling on limitation from the date of execution of the SPA does not seem fair to homebuyers [if a] housing development project had not taken off after the SPA is signed and if there [is] a breach that can be ascertained when vacant possession is only been given.

Senior lawyer Leonard Yeoh said that the decision ensures that nobody takes advantage of the law to the detriment of another.

What now for homebuyers? Homebuyers can be rest assured that their right to claim for damages for late delivery of vacant possession remains unchanged.

REHDA Malaysia president Datuk Ho Hon Sang: “We would also like to reiterate that we are not in favour of unnecessary extension of time unless for very valid reasons, developers must honour the terms in the contracted sales to deliver within the time allowed by the law.

Federal Court judge Datuk Seri Hasnah Mohammed Hashim said said homebuyers cannot rely on the Ang Ming Lee decision as a "carte blanche" in order to make financial gain against developers who had obtained EOT prior to that landmark decision.

Courtyard Homes will have a built-up size from 6,649 sq ft and the selling price starts from RM6.

“We believe that the above could eliminate any existing doubt, and ambiguity that could be posed from interpreting the Act (Credit Reporting Agencies Act) in future cases,” said Kenanga Research.

The officer confirmed that there was no written application for the loan, and hence there was no rejection of the loan.

The group had also filed an appeal against part of the court's decision, said Mudajaya, without giving further details.