News about property

Q: Does a unit holder (a resident of a condominium) have the right to view the accounts and the invoices of expenses incurred for the property anytime or can the unit holder only see the audited accounts during the AGM? Paragraph 7(6)(b) Second Schedule of the Strata Management Act 2013 states that a purchaser/proprietor may make a request to the Management Committee to inspect the books of accounts at a fee not exceeding RM50 for each inspection.

KUALA LUMPUR (July 15): Berjaya Land Bhd (BLand), which is controlled by tycoon Tan Sri Vincent Tan, is buying a 75% stake in Icelandair Hotels ehf in a US$53.

  Q: Management Corporation or Joint Management Body to set up a company to manage finances? Who is ultimately responsible for the funds? Under the Strata Management Act 2013 (SMA), the Management Corporation’s (MC) and the Joint Management Body’s (JMB) ultimate function is to properly maintain and manage the subdivided building or land, and the common property.

  Q: What is a latent defect? Can claims be made against the developer after the defects liability period (DLP)? In the context of a residential strata development, ‘latent’ (as opposed to ‘patent’) defects can manifest any time after the end of DLP.

KUALA LUMPUR (June 26): One way to resolve the property overhang is to stop being so strict over Malaysia My Second Home (MM2H) applications from Chinese nationals, said a developer.

PETALING JAYA: Property transactions are often time consuming as they involve various parties and processes which can take months or even years to complete.

Q: We recently formed a Management Corporation (MC).

购买房产不仅需要考虑到地点、价格和购买时机，物业管理是否妥善也是必须纳入考量的因素。 EdgeProp.

  KUALA LUMPUR (May 30): Sime Darby Property Bhd’s net profit jumped nearly eight times to RM265.

  IPOH (May 28): Sunway Property’s Sunway Onsen Suites in Sunway City Ipoh has recorded a 60% take-up rate for its first tower comprising 252 units of serviced suites following a sales preview on May 20, said the developer in a press release today.