Developers not going in for audited accounts
11/01/2008 The Star

THE call for audited accounts to be submitted by property developers prior to setting up Joint Management Body committees seems to have fallen on deaf ears in the Kajang municipality.

To date, the Kajang Municipal Council has only received audited accounts from 80 developers, a small number compared to the 72,474 properties recorded in the municipality as of July 2007.

Council valuation and property management department head Abd Haizul Faisal Abd Hamid revealed this at a briefing conducted by a group of commissioners of buildings from the Selangor Housing and Real Property Board in Kajang on Tuesday.

Council officers, developers and other interested parties attended the briefing held at the Oriental Crystal Hotel.

The Building and Common Property (Maintenance and Management) Act 2007 (Act 663), enforced on April 12, accorded developers a one-year period to form JMB committees at flats, apartments, condominiums, gated communities, commercial buildings, shopping complexes, serviced apartments, industrial parks and town houses.

Under Act 663, only when the audited accounts were declared sound were developers allowed to call for the first JMB meeting.

Failure to form the JMB would result in the developer being fined not more than RM20,000, face imprisonment of not more than three months or both.

Selangor Housing and Real Property Board executive director Datin Paduka Alinah Ahmad also walked attendees through other intricate processes of property-related requirements as laid out under Act 663