KUALA LUMPUR: The proposal to use the special guarantee fund to restore sick or abandoned projects, announced in the recent Budget 2024, will be submi...
: The proposal to use the special guarantee fund to restore sick or abandoned projects, announced in the recent Budget 2024, will be submitted to the Ministry of Finance .
“Apart from that, we are also looking at housing programmes under federal government agencies and state authorities, especially affordable housing projects which are at risk of becoming sick projects,” he said, during a question and answer session in the Dewan Rakyat, today. Akmal Nasrullah, in his reply to Zahir’s original question regarding the Housing Development Account for housing projects, said that, thus far, the Ministry of Local Government Development has frozen 20 HDA accounts for projects categorised as sick or problematic.
“In addition, developers can also be compounded up to a maximum of RM50,000 if they fail to fulfil their obligations as stipulated under Act 118 Act 1966) and its regulations.
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