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Wednesday, March 11, 2009

Builders call for speedy delivery system

Master Builders Association Malaysia president Ng Kee Leen welcomes the Government’s larger commitment to help the rakyat but wants a speedy and transparent delivery system as well as a proper project monitoring to ensure effectiveness of the stimulus package.

“The industry could not feel the impact of RM7bil,” he told StarBiz yesterday, pointing out that the peoples’ perception of the first package’s disbursement was slow.

Real Estate and Housing Developers Association of Malaysia president Datuk Ng Seing Liong was disappointed with the announcement as some important issues, such as stamp duty relief and provision of grants to first-time housebuyers, were not addressed.

He said there were only two new policies that would have direct impact on homeowners – the tax relief on interest paid on housing loans of up to RM10,000 a year for three years and the deferred repayment of retrenched workers’ housing loans for one year.

“A lot of money goes into contracts instead. What is important is the money goes to the people on the street so that it will have a better multiplier effect. The impact will then be faster,” he told StarBiz.

By The Star

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