News about fees

It is clear under Act 118 that the liquidator can play an important role.

Rehda president Datuk N K Tong: The average citizens, who are still grappling with the aftermath of Covid-19, will undoubtedly feel the impact of the increase in legal fees.

According to the SRO 2023, the changes will “affect transactions involving non-contentious matters such as the sale and purchase of movable and immovable properties, financing and tenancies”.

Currently, Akmal Nasrullah said the liquidator may charge a service charge based on Companies Winding-up Rules 1972 for the services provided and the rate of charge is subject to the complexity of the liquidator's role in managing the affairs of the housing project.

Since 2013, banks have somehow been “selling” and “billing” the security documents to lawyers for prices ranging between RM100 and RM600.

“Those agents who feel that the sum of RM500 is too meagre may opt not to accept the task,” said Seo.

KUALA LUMPUR (Sept 14): Prime Minister Datuk Seri Ismail Sabri Yaakob (pictured) told the Dewan Rakyat today that the government is considering calls to compel lenders such as banks to waive interest fees on deferred loans to help ease the plight of the rakyat who are burdened by the Covid-19 pandemic.

The collection of booking fees by developers is a common practice in Malaysia during property transactions, but many might not be aware that it is actually prohibited under the Housing Development (Control and Licensing) Regulations 1989 (HDR).

Recently, there have been plenty of “judicial review” proceedings mounted by housing developers at the courts of law to challenge the jurisdictions of the Housing Tribunal through what we deem as deliberate frustrations on grounds of legal technicalities, forcing laymen to expend legal fees against the developers’ battalion of lawyers.

For too long, loan borrowers have been at the losing end as many do not fully understand the terms and conditions (T&C) stated in housing loans or financing contracts.