FAQ : EPF Withdrawal to Purchase a House

Posted on 3:28 PM | By Smart Wealth Advisory | In


  1. What are the requirements for Withdrawal To Purchase A House? Members must be:
    - Malaysian citizens; OR
    - Non-Malaysian citizens who have obtained Permanent Resident (PR) status; OR
    - Malaysian Citizens who have made Leaving The Country Withdrawal before 1 August 1995 and have opted to re-contribute to the EPF; OR
    - Non-Malaysian citizens who have became members before 1 August 1998;
  2. What is the amount entitlement under Withdrawal To Purchase A House?
    Members can withdraw their savings according to the following, whichever is lower;
    a) Individual Purchase – The difference between the house price and the loan amount plus an additional 10% of the house price; OR
    All the savings in the applicants’ Account 2 subject to maximum amount eligible for withdrawal (whichever is lower)

    b) Joint Purchase With Spouse, Family Member or Other Individuals
    c) For housing loan of 100% - 10% from the cost of building the house; OR All savings in Account 2 (whichever is lower)

    d) Cash purchase – house price with an additional 10% from the cost of building the house; OR All savings in Account 2 (whichever is lower)

  3. How is the payment made?
    The payment for withdrawal will be credited directly to the bank account with the following conditions:
    - Members own a bank account with the EPF elected panel banks.
    - Members’ bank accounts are still active, and
    - Members’ bank accounts types are individual savings/current accounts OR Individual Joint Account for withdrawal amount of more than RM100,000.00
  4. How do I submit the applications?
    Applications can be submitted at any EPF Offices nearby, either at the counters or by post.

EPF Housing Withdrawals

Posted on 3:23 PM | By Smart Wealth Advisory | In

Withdrawal to Purchase a House

PURPOSE

  • This withdrawal allows you to utilize your savings from Account 2 to partially finance your purchase of a house individually OR jointly with your spouse or close family members namely parents or siblings.
  • Buying of a house with another individual who has no kinship is allowed provided that the other individual is a buyer and borrower.
  • This withdrawal allows you to buy a house from a developer or an individual or through a public auction.
  • EPF Withdrawal to purchase a second house is allowed after the first house purchased utilizing EPF has been sold or disposal of ownership of property has taken place. Disposal of ownership refers to 'loss of ownership of the first house owned by you either due to auction, surrender of property by court order, transfer of ownership because of love and affection, destruction of house due to natural disaster, abandoned housing project or cancellation of purchase'.

APPLICATION ELIGIBILITY

  • (i) A Malaysian Citizen; OR
    (ii) A Malaysian Citizen who has made Leaving The Country Withdrawal before 1 August 1995 and has opted to re-contribute to the EPF; OR
    (iii) A Non-Malaysian Citizen who:
    • Has became an EPF before 1 August 1998, OR
    • Has obtained a Permanent Resident (PR) status.
  • You have not reached the age 55 at the time the EPF receives your application; AND
  • You have a minimum savings balance of RM500.00 in your Account 2.
Terms Of Withdrawal

You are eligible to apply if you:

1. Buy a residential house (type: bungalow / terrace / semi-detached / condominium / apartment / studio apartment / service apartment / townhouse) or a shop lot with residential unit or a small office home office (SOHO) unit.

2. The purchase of the house is financed by:

(i) Housing loan from any of the following institutions:

• Financial Institutions licensed under the Banking and Financial Institutions Act 1989 (BAFIA);
• Central / State government or any other government financial agencies;
• Member’s employers;
• Cooperatives / Cooperative Companies with license (approved by Cooperative Development Department, Ministry of Entrepreneur and Co-operative Development)
• Licensed insurance companies as approved by the Central Bank of Malaysia;
• Loan providers as allowed by the EPF; OR

(ii) Cash.

3. The date of the Sale and Purchase agreement is not more than three (3) years at the time your application is received by the EPF.

4. You have never made a Housing Withdrawal; OR you have made a withdrawal to purchase your first house and have sold the house or disposal of ownership has taken place and now you intend to build your second house. Proof of sale / disposal of ownership of the first house must be submitted to the EPF.

5. You want to buy a house which has been acquired from a rental with a view of purchase agreement from a party authorised by the EPF.

6. You have bought a land and built a house on the same land simultaneously (dates of the agreement to purchase the land and the agreement to construct the house must be within 6 months).

You are not eligible to apply if you:

• Buy a land or a house lot only.
• Renovate, repair or do additional work to the existing house..
• Property ownership is not via sale & purchase transaction.
• Have taken an overdraft loan.
• Buy a third house.
• Buy a house in a foreign country.


Withdrawal Eligibility The amount that you can withdraw is as follows:

HOUSE PURCHASE FROM AN INDIVIDUAL

JOINT PURCHASE WITH SPOUSE OR OTHER INDIVIDUAL

The difference between the house price and the loan amount plus an additional 10% of the house price

OR

All your savings in Account 2


(Whichever is lower but not less than RM500.00)

The difference between the house price and the loan amount plus an additional 10% of the house price

OR

All the savings in each purchaser’s Account 2 subject to maximum amount eligible for withdrawal

(Whichever is lower but not less than RM500.00)

100% HOUSING LOAN

CASH PURCHASE

10% of the house price

OR

All your savings in Account 2

(Whichever is lower but not less than RM500.00)

Price of the house with an additional 10% of the house price

OR

All your savings in Account 2

(Whichever is lower but not less than RM500.00)

  • You may choose to decide on the amount to withdraw from your Account 2, subject to the maximum amount eligible by filling in the desired amount in the housing withdrawal Form 9C (AHL).
  • You may have made a housing withdrawal before but have cancelled the purchase of the house and now you wish to make this withdrawal to purchase a house. In this situation, the amount withdrawn need not be returned to the EPF. The earlier withdrawn amount will be deducted from the current eligible amount subject to the balance eligible (if any).
List Of Documents Required

A. MAIN DOCUMENTS
1.1 Form KWSP 9C (AHL)

1.2 Malaysian Identification Card (MyKad)/ Military Identification Card/Permanent Resident Identification Card (MyPR).
OR
Police Identification Card affixed with your right and left thumbprints on its copy and a letter from your employer confirming that your police number and Identification Card number refer to the same person.
OR
Passport if you are a Non-Malaysian citizen who has become an EPF member before August 1998.

1.3 Your Personal Savings Account Passbook / Statement OR the original copy of Personal Current Account Statement OR Individual Joint Account (for withdrawal exceeding RM100,000.00):

  • The bank account must be active.
  • The bank account must be with a Panel Bank approved by the EPF.

1.4 Sale & Purchase Agreement (purchase from developer) OR Proclamation of Sale from Administrator / Court (public auction purchase) which contains the name of the member or names of all members (for joint purchase) and the date of execution does not exceed 3 years on the date the withdrawl application is received.

1.5 If a housing loan is involved, the following documents will have to be produced:

  • Housing Loan Approval Letter (if the loan approval is less than one (1) year from the date the withdrawal application is received); OR
  • Housing Loan Approval Letter and Housing Loan Agreement/ Mortgage Form 16A (if the housing loan approval has exceeded one year from the date the withdrawal application is received).

1.6 Proof of relationship (for joint purchase involving spouse or next of kin namely parents or siblings. For joint purchase involving next of kin, the member is required to submit an explanation letter stating the reason for the joint purchase.

B. PURCHASE FROM DEVELOPER OR PUBLIC AUCTION
  • All documents in paragraph 1.1 to 1.6;
  • If it is a cash purchase, the following additional documents must be produced:

PURCHASE FROM DEVELOPER

PURCHASE FROM PUBLIC AUCTION

a) A confirmation letter from the developer stating that purchase is by cash; AND

b) Proof of payments of at least 20% of the price of the house; AND

c) Architect’s Certificate to confirm progress of construction is not less than 20%.

a) A confirmation letter from a lawyer’s office that handles the transaction stating that the purchase is by cash; AND

b) Proof of payment of at least 20% of the price of the house; AND

c) Transfer of Ownership documents which include:

  • Form KTN 16F (Perakuan Jual oleh Mahkamah); OR
    Form KTN 16I (Perakuan Jual oleh Pentadbir Tanah); OR

  • Land Title Deed in the member’s name; OR
  • Deed Of Assignment AND letter of confirmation from buyer/seller’s lawyer stating that the Notice of Assignment has been produced and received by the developer under the Section 22D (2) Housing Developer Act (Control And Licensing) Amendment 2007; OR
  • Form KTN 16F/ 16I in the name of the member which has not been completed by the Land Office AND Statement of Transfer from the Land Office which has been completed AND A statutory declaration to confirm the purchase of the house, and if the member does not proceed to purchase or do not/fail to produce the transfer of ownership document that bears the member's name within 6 months from the date his/her application is approved the member's withdrawal is deemed void. The member then must return to the EPF all of the withdrawal amount which has been made).

C. PURCHASE FROM INDIVIDUAL

  • All documents in paragraph 1.1 to 1.5;
  • If the purchase is from the next of kin (parents/ spouse/ children/ siblings), you have to produce the proof of transaction which in this case refers to Transfer of Ownership Form (Form KTN 14A) / ‘Deed of Assignment/ Memorandum Of Transfer;
  • If the purchase is made with a loan, the following additional documents must be produced:

INDIVIDUAL / STRATA TITLE HAS BEEN ISSUED

INDIVIDUAL / STRATA TITLE HAS NOT BEEN ISSUED

Title Deed in the name of the seller AND Letter of consent issued by the Land Office for the transfer (if there is restriction on the property);

OR

Title Deed in your name;

ORDuly completed Form KTN 14A by the Land Office in your name.

Letter of consent from the developer for the transfer AND Letter of consent issued by the Land Office / Local Authority for the transfer (if there is restriction on the property);

ORDeed of Assignment in your name.


  • If the purchase is made by cash, the following additional documents must be produced:
    (a) A confirmation letter from a lawyer’s office that handles the transaction stating that the purchase is by cash;
    (b) Proof of payment of at least 20% of the price of the house; AND
    (c) If Form KTN 14A OR Deed Of Assignment in your name as mentioned above has not been processed by the Land Office, the following documents are required:

INDIVIDUAL / STRATA TITLE HAS BEEN ISSUED

INDIVIDUAL / STRATA TITLE HAS NOT BEEN ISSUED

Transfer of Ownership form (Form KTN 14A) in your name which has not been completed by the Land Office AND Receipt of Submission ("Penyata Perserahan") from the Land Office;

OR

A statutory declaration to confirm the purchase of the house, and if the member does not proceed to purchase or do not/fail to produce the transfer of ownership document that bears the member's name within 6 months from the date his/her application is approved the member's withdrawal is deemed void. The member then must return to the EPF all of the withdrawal amount which has been made).
AND

Letter of consent issued by the Land Office / Local Authority for the transfer (if there is restriction on the property).

Confirmation Letter from the developer stating the details of the house purchased by you (following Section 22D (4) Housing Developer Act (Control And Licensing) Amendment 2007;

AND

A statutory declaration to confirm the purchase of the house, and if the member does not proceed to purchase or do not/fail to produce the transfer of ownership document that bears the member's name within 6 months from the date his/her application is approved the member's withdrawal is deemed void. The member then must return to the EPF all of the withdrawal amount which has been made).


D. Purchase Of Land And Construction Of A House As A Package

  • All main documents in paragraph 1.1 to 1.6;
  • Construction Agreement for the house containing your name or the names of all applicants for joint withdrawal is executed not more than 3 years from the date the application is received by the EPF;
  • Sales and Purchase of Agreement of the land in your name or the name of all applicants for joint withdrawal and the date of agreement is within 6 months with the House Construction Agreement;
  • Title Deed of the land in the name of the seller/ developer;
  • Power of Attorney that has been registered at the court if the purchase of land and house construction is made through Power of Attorney;
  • Proof of relationship (for joint purchase involving spouse or next of kin namely parents or siblings. For joint purchase involving next of kin, the member is required to submit an explanation letter stating the reason for the joint purchase.
  • If the purchase has been made by cash, the following additional documents must be produced:
    (i) A confirmation letter from the developer stating that purchase is by cash; AND
    (ii) Proof of payments of at least 20% of the price of the house; AND
    (iii) Architect’s Certificate to confirm progress of construction is not less than 20%.

D. Withdrawal To Purchase A Second House

i) Documents as proof of purchase of second house as in paragraph A to C whichever is relevant; ANDii) The following Proof of sale or disposal of ownership of the first house, whichever is relevant:

a) Ownership of Transfer Form KTN 14A in the name of the new owner(s) duly completed and endorsed by the Land Office or house ownership transfer because of love and affection (to the nearest family member (s) including parents / children / spouse / siblings together with proof of relationship); OR

b) Deed Of Assignment; AND letter from seller’s/buyer’s lawyer which confirms that the Notice of Assignment has been produced and received by the developer under Section 22D (2) Housing Developer Act (Control And Licensing) Amendment 2007 (for property transactions after 12 April 2007);

c) Deed Of Assignment between you and the new owner; OR

d) Land Title Deed in the name of the new owner AND Sale and Purchase agreement between you and the new owner; OR

e) Real Property Gain Tax Form 5 AND Sale and Purchase agreement between you and the new owner (for property sale before 1 April 2007); OR

f) Form KTN 16F (Perakuan Jual oleh Mahkamah) or Form KTN 16I (Perakuan Jual oleh Pentadbir Tanah); OR

g) Confirmation of property auction by the bank; OR

h) Transfer of ownership by Court Order to any party AND divorce documents (for divorce cases); OR

i) A formal search from the Land Office that indicates that the name of the new owner of the said property AND Sale and Purchase agreement between you and the new owner; OR

j) Confirmation letter from the authorities (Housing and Local Government Ministry/ Municipal Councils/ District Offices/ Penghulu) for houses damaged by natural disasters or abandoned housing projects; OR

k) Deed Of Revocation or Deed of Rescission; OR Confirmation Letter from the developer/lawyer on the cancellation of the purchase; OR

l) Assessment Bills issued by the Municipal Council / local authorities in the name of the new owner AND Sale and Purchase agreement between you and the new owner.

Note:

Members who wish to submit their applications through post must complete Application for Member’s Registration and Amendment of Member’s Particulars Form (KWSP3) and attach it together with the application form. Members are advised to read the instructions in the guide carefully before filling in the form.


Modes Of Payment

A. Payment in Malaysia

  • Payment is via direct crediting into your bank account subject to the following conditions:

a. Your bank account is still active; AND

b. Your bank account is with a panel bank appointed by the EPF; AND

c. Your bank account is a Personal Savings/Current Bank Account OR a Joint Bank Account (for withdrawal amount more than RM100,000 only).

d. Your personal indentification number matches with the bank’s record.

e. Payment is in Ringgit Malaysia (RM).

  • If EPF is unable to credit the payment into your bank account, due to causes such as bank account is not active or your personal identification number does not match with the bank’s record, you will be paid by banker’s cheque.


B. Remittance of Payment to Foreign Countries

Payments are made through Foreign Bank Draft. Types of currency available are as following:

  • The currency of the country where you reside based on the address given in the KWSP 9C (AHL) Withdrawal Form; OR
  • In US Dollar if the EPF is unable to make the payment in the currency of the country of your residence; OR
  • A foreign currency as per your request according to the KWSP 9C (AHL) Withdrawal Form.
Submission Of Application

Your application may be submitted to any of the EPF branches either via the counter or by post.


Submission At The Counter

Please bring along the original documents together with the photocopies of the same documents for verification purposes by the EPF Officer (if documents verification has not been done).


Submission By Post

  • Please make sure that ALL documents have been verified by an officer allowed by the EPF, complete with full name, designation and an official stamp except for stipulated documents which must be verified by the EPF Officers only. Please click the link for the list of Authorised Document Certifying Officers and Witnesses
  • All applications by post must be addressed to:

THE EMPLOYEES PROVIDENT FUND
Locked Bag No. 220
Jalan Sultan
46720 Petaling Jaya
SELANGOR DARUL EHSAN.


Important Notice

Amount Withdrawn Not To Be Utilized For Other Purposes

An amount withdrawn shall be utilized solely for the purpose for which the withdrawal was authorized. Where all of the amount withdrawn or any part of the amount is not utilized for the purpose for which such withdrawal was authorized, the member shall return all the amount or the part which is not utilized to the EPF within six months from the date of withdrawal. Any member who contravenes this requirement shall be guilty of an offence.


Submission Of False Application

Any application received and found to contain false information or forged documents will be deemed to have committed an offence under Section 59 of the EPF Act and if found guilty shall be liable to imprisonment for a term not exceeding three years or to a fine not exceeding ten thousand ringgit or to both.

Please click to read about Offences and Proceedings.

MALAYSIA PROPERTY EXPO 2010 - Berjaya Megamall Kuantan

Posted on 6:11 PM | By Smart Wealth Advisory | In



Date : 23th – 25th July 2010
Time : 10.00 am to 9.00 pm
Venue : Berjaya Megamall Kuantan
Contact: 09-513 3355

Mortgage Lending Rate Malaysia Updated 13 July 2010

Posted on 6:05 PM | By Smart Wealth Advisory | In

The Mortgage Lending Rate ( MLR)currently OCBC is using that as a reference. MLR is mortgage business base. The BLR is based on Bank’s overall funding and business costs. MLR is based on the overall funding and business costs associated with the mortgage business.

No.Banking InstitutionWith Effect FromMLR (% p.a.)
1OCBC Bank (Malaysia) Berhad13/07/20105.10

Property Transaction Costs In Malaysia(Simplified):

Posted on 3:50 PM | By Smart Wealth Advisory | In

1) Stamp Duty == 1% - 3% (By Buyer)
2) Lawyer/Solicitor's Fees == 0.4% - 1% (By Buyer)
3) Other Fees == MYR180 (US$49) (By Buyer)
4) Real Estate Agent's Fees == 2% - 2.75% (By Buyer or Seller or Both)

Explaination as follow:

1) Stamp Duty (Value Of Property in MYR -- Rate)
First 100,000 -- 1%
Next 400,000 -- 2%
Remainder (Over 500,000) -- 3%

2) Lawyer/Solicitor's Fee (Value Of Property in MYR -- Rate)
First 150,000 -- 1%
Next 850,000 -- 0.7%
Next 2,000,000 -- 0.6%
Next 2,000,000 -- 0.5%
Next 2,000,000 -- 0.4%

* where the consideration or adjudicated value is in excess of MYR7,500,000 then it's negotiable but shall not exceed 0.4% of such excess

3) Other Fees (MYR)
Stamping Fee (per document) -- MYR10
Adjudication Fee -- MYR10
Title Search Fee -- MYR60
Registration Fee -- MYR100

4) Real Estate Agent's Fee
Agent's Fees are regulated by the Board of Valuers, Appraisers and Estate Agents Malaysia (LLPEH). Commission is paid either by buyer or seller, subject to a maximum discount of 30% but a minimum fee of MYR1,000 per case. The scale is not applicable to sale of foreign properties in Malaysia.

Agent's Fee (Value Of Property in MYR -- Rate)
First 500,000 -- 2.75%
Remainder -- 2%


Property Buying Procedure(Simplified):

The first step to purchasing property in Malaysia is to hire a real estate lawyer to assist in the transaction. Once property is selected, a Letter of Offer/Acceptance is signed, and a 3% deposit is expected from the buyer.

Within 14 days, the Sale and Purchase Agreement is signed. The buyer must pay another 7% deposit. From the date of the signing, the buyer has a maximum of three months to accomplish full payment.

The Sale and Purchase Agreement must be stamped at the Stamp Office. After the examination on the property of the valuation department, Stamp Duty is paid to the Stamp Office. The transfer must be registered at the Land Office Registry.

Be cautious when buying new property in unfinished condominium projects. Buyers may not be fully protected against default, an issue vigorously raised by the Malaysian House Buyers’ Association, which has pointed to flaws in The Housing Development (Control & Licensing) Act 2002, and the Strata Titles Act. Those buying unfinished property from developers should ensure that the developer has a valid Developer’s License and a valid Sales & Advertising permit.

Disclaimer: This article is written to give you a basic idea of how property buying cost and procedure in Malaysia works in a nutshell, always consult a professional real estate agent should you have any doubt or questions.


Source: http://www.globalpropertyguide.com/Asia/Malaysia/Buying-Guide

MHL-Latest Base Lending Rate BLR and Base Financing Rate BFR Updated 10 July 2010

Posted on 12:36 PM | By Smart Wealth Advisory | In

Malaysia BLR rise again to 6.30%!!!!!
Again OPR has increased 3 times to the amount total of 0.75%.




























No.Banking InstitutionWith Effect FromBLR (% p.a.)BFR (% p.a.)
1Affin Bank Berhad18/05/20106.056.05
2Alliance Bank Malaysia Berhad18/05/20106.056.05
3Asian Finance Bank09/03/20105.755.75
4AmBank (M) Berhad19/05/20106.056.05
5Bangkok Bank Berhad19/05/20106.056.05
6Bank Islam10/07/20106.306.30
7Bank of America Malaysia Berhad20/05/20106.056.05
8Bank of China (Malaysia) Berhad19/05/20106.056.05
9Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad10/03/20105.805.80
10Bank Simpanan National18/05/20106.056.05
11CIMB Bank Berhad10/07/2010 6.30 6.30
12Citibank Berhad19/05/20106.056.05
13Deutsche Bank (Malaysia) Berhad21/05/20106.056.05
14EON Bank Berhad19/05/20106.056.05
15Hong Leong Bank Berhad18/05/20106.056.05
16HSBC Bank Malaysia Berhad18/05/20106.056.05
17J.P. Morgan Chase Bank Berhad15/03/20105.655.65
18Malayan Banking Berhad10/07/2010 6.306.30
19OCBC Bank (Malaysia) Berhad18/05/20106.056.05
20Public Bank Berhad18/05/20106.056.05
21RHB Bank Berhad19/05/20106.056.05
22Standard Chartered Bank Malaysia Berhad18/05/20106.056.05
23The Bank of Nova Scotia Berhad19/05/20106.056.05
24The Royal Bank of Scotland Berhad19/05/20105.755.75
25United Overseas Bank (Malaysia) Berhad18/05/20106.056.05

Property market recovering, but oversupply of condo and office units

Posted on 12:50 PM | By Smart Wealth Advisory | In

By THE STAR


But high-rise condo and office market still in oversupply


PETALING JAYA: The residential property market, especially landed residences, is on a recovery mode and prices of houses in some parts of Kuala Lumpur and Petaling Jaya have rebounded by 15% to 25% in the past one year, property realtors and consultants said.

However, the high-rise condominium and office market is still facing an oversupply situation and will weigh down on the market at least over the next couple of months.

CB Richard Ellis Sdn Bhd executive director Paul Khong said Malaysians still had money to invest and residential was the hot favourite at the moment.

“Landed properties have rebounded in all segments across the board while in the strata segment, the high-end ones in KLCC and Mont’Kiara have moved relatively slower due to the current supply situation and the small tenancy market,” Khong added.

Khong said that although the Klang Valley landed housing market was hot, “it is not a property boom.”

According to Knight Frank Ooi & Zaharin Sdn Bhd managing director Eric Ooi, the landed residential property market has fared well as it is considered a good time to buy now.

“The market has certainly picked up due mainly to limited supply, the high liquidity in the system, and growing interest in property as a reliable investment instrument,” Ooi said.

The affordable entry cost and an all-time low bank interest rates have also contributed to the improved sentiment and rising house prices.

Ooi said landed residential property prices in some parts of Kuala Lumpur, such as Desa Parkcity, had breached new high and house prices in well-sought-after locations would continue to strengthen.

“I believe even the commercial sector has seen the worse and although the market is still soft, it is stabilising. If the economy continues to grow steadily, the commercial sector will be next to rebound,” Ooi added.

Ooi said that besides the good location, the unique concepts and exclusive features of some of the projects were the reasons for the strong demand and prices.

DTZ Nawawi Tie Leung Sdn Bhd executive director Brian Koh concurred that supply of landed housing property had not caught up with demand as there was a lag in new supply coming onstream after developers held back their project launches in the past two years.

“The performance is still very location centric and concept driven. Buyers prefer well-established neighbourhoods and those with good concepts. Security has become a top priority and that’s why gated and guarded projects are doing very well,” Koh said.

He said even some KLCC condominiums were attracting interest again.

“This time around most of the buyers are well heeled Malaysians who appreciate the exclusivity of the residences in the KLCC area. Having came off from their previous high, there is potential for some price upside. Moreover, prices of residences here are still lower than those in cities in other parts of the region.”

Koh said there was a need to monitor the impact of potential rise in interest rates on property demand especially in the medium to lower price range.

“The higher entry cost may affect demand going forward but it could have contributed to buyers locking in at the current low entry cost,” he added.

Perdana Parkcity Sdn Bhd director of marketing and sales Susan Tan said a combination of factors including a pent up in demand and limited supply were the main causes of the current price rebound in the residential market.

“There has been no new supply of landed housing in Kuala Lumpur in the past year. A fear that prices will climb further due to an expected rise in the cost of construction is also fuelling demand now.

“Buyers are willing to pay for the right address, a good overall concept and well landscaped and maintained environment. That’s why some highly sought after projects can fetch quite high price premiums,” Tan said.

Perdana ParkCity is the developer of the 473-acre Desa ParkCity in Kuala Lumpur which has fetched one of the highest premiums in terms of landed property prices in the capital city.



MALAYSIA PROPERTY EXPO 2010- Mid Valley Exhibition Centre (MVEC)

Posted on 11:39 AM | By Smart Wealth Advisory | In



Date : 16th – 18th July 2010
Time : 10.00 am to 9.00 pm
Venue : Mid Valley Exhibition Centre

Enquiries:
Contact Puan Sheena at 03-7803 2978.
REHDA Secretariat,
No 50H-3, Kelana Mall,
Jalan SS6/14, Kelana Jaya,
47301 Petaling Jaya.

Suncity expects 20pc rise in green property

Posted on 6:27 PM | By Smart Wealth Advisory | In

Sunway City Bhd (Suncity), developer of the Sunway Integrated Resort City in Bandar Sunway, expects prices at its property launches to increase by 20 per cent this year from 2008. Its managing director of property development in Malaysia, Ho Hon Sang, said this was in line with the current market trend.

"Suncity's launches for this year will mainly in the Klang Valley with a gross development value of RM1.5 billion," he told Bernama in an interview.

Suncity, Ho said, believes that its premium pricing strategy of focusing on properties with "green initiatives" that promote quality of life will place it well ahead of competitors.

"Our property prices are usually 10 to 20 per cent above the competitors," he said.

According to Ho, the Malaysian property market is not expected to enter a bubble stage despite rising prices due to the limited supply of land in prime areas, and availability of liquidity at the banks and institutions such as the Employees Provident Fund (EPF).

"Malaysian property prices are still lower compared to Singapore," he said. Suncity began its green journey back during its Sunway Integrated Resort City in Bandar Sunway, an iconic project which encompasses a township of medical, university, shopping and retail mall as well as resort and hotels.

"We have also emphasised on security with the implementation of CCTV within strategic roads and location and auxiliary police to ensure proper surveillance," Ho said.

"Sustainable construction is certainly here to stay as
Malaysians are becoming more environmentally conscious. Moreover, it is widely practised by other developers overseas," he said.

He also said that Lafarge Malayan Cement Bhd's cement products such as the Phoenix complemented the group's objective to promote sustainable construction.

The group's efforts in going green were given recognition when the Sunway Palazzio development in Sri Hartamas, Kuala Lumpur, was awarded the Gold Award in High Rise Residential Development by Singapore's Building and Construction Authority Green Mark Scheme.

Sunway Palazzio is the first high-rise residential development in Malaysia to receive the coveted award based on five criteria -- energy efficiency, water efficiency, site/project development and management, good indoor environmental quality and environmental protection, and innovation. -- Bernama

Malaysia Property Types

Posted on 5:03 PM | By Smart Wealth Advisory | In

There are 3 major types of properties in Malaysia: Vacant Land, Commercial Properties and Residential Properties. A research on the subcategories of properties can enable the proprietor to understand and maximize the investment returns of the property.

Residential Property

Residential property covers a whole area of property types including condominiums, residential houses, service apartments, apartments, townhouses and bungalow. Let us examine the various types of residential properties available in Malaysia.

Residential Houses
Apartments and Condominiums
Townhouses
Bungalow
Service Apartments

Commercial Property

Commercial property covers a whole area of property types including shop offices, shop houses, commercial buildings, retail stores, professional buildings and shopping centres. Commercial property is pricier than residential property and it has a possibility to face problems in rental during recession. Let us examine the various types of commercial properties available in Malaysia.

Shop Houses
Shop Offices
Retail Stores
Shopping Centres
Commercial Buildings


Vacant Land

There are three main types of land in Malaysia: freehold land, leasehold land and Malay Reserve land. The status of lands that are to be purchased must be checked in order to make an informed investment decision. Land status can be checked at the Land Office or the State Land Registrar.
Freehold land
The tenure of freehold land is for life. The owner of the land owns the land, the building and anything that is on the land. There is no time limit for the owner and the freehold land lies with the title holder until he transfers it to someone else. Investment in freehold property tend to generated higher return as it posted perpetual tenure.

Leasehold land
Leasehold land is held by a person by virtue of a lease agreement between him and the owner permitting him to hold the land for a period as said in the lease agreement. The difference between leasehold and freehold is that for leasehold, the land is to be returnable after the expiry of the period. This type of land also belongs to the government and the least is usually for 99 years. When the lease expires, the government can take back the land or lease it further. The lesser the number of years left on the lease, the less valuable the land becomes.

Malay Reserve Land
Basically Malay Reserve Land is land that cannot be sold to other races, even foreigners except for Malays or Bumiputras. It is land exclusively meant for Malays and Bumiputras. This type of land posted lower investment return as compared to freehold and leasehold property as it can only be transfer among Malays and Bumiputras and limit its marketing prospects.

RPGT - Real Property Gains Tax

Posted on 5:00 PM | By Smart Wealth Advisory | In

In the Budget 2010, Government has re-imposed the Real Property Gains Tax (RPGT). The RPGT will be fixed at 5% on the gains from the disposal of real property with effective from 1 January 2010. The RPGT for the first year is 5% and it’s same for second, third, fourth and fifth year.

Real Property Gains are gains derived from disposal, sell, convey, assign, transfer, settle or alienate whether by agreement or by force of law which fall under chargeable asset. All chargeable assets must be made during the year of assessment and all particulars must be furnished as requested.

Example to illustrate the calculation of RPGT payable

Ms.R purchased a property on year 2006 at RM100,000 and sold after or on 1st JAN 2010 at RM200,000 (within five years of the date of purchase). She made RM100,000 from the transaction and the gains are subject to 5% RPGT and the calculation will be:

RM100,000 (Property Gains) – RM10,000 (Waived Exemption) = RM90,000 (Taxable Gains)

RM90,000 (Taxable Gains) x 5% (RPGT Rate) = RM4,500 (RPGT Chargeable)

Thus, the RPGT chargeable to Ms.R will be RM4,500.


Allowable Loss

Allowable loss means a loss made after the disposal. Tax relief shall be allowed in respect of the following accrued:

1.If the disposal price is less than the acquisition price.
2.If the disposal price is equal to the acquisition price


Exemption
(under Real Property Gains Tax (Exemption) Order 2009)

The flat 5% RPGT for the 1st five years will be implemented through the Real Property Gains Tax (Exemption) Order 2009. This Order has gazetted and take effective since 1st JAN 2010. Therefore, the existing rate of RPGT, which is within 30% to 5% as in Schedule 5 of the Real Property Gains Tax 1976, will no longer be applicable.

However, there are three circumstances where the property owner is exempted from the 5% RGPT.

* The level of exemption is increased from RM5,000 to RM10,000 or 10% of the chargeable gains, which ever is the higher

* Gifts between parent and child, husband and wife, grandparent and grandchild; and

* disposal of a residential property once in a lifetime.

8 Big Selling Mistakes

Posted on 4:51 PM | By Smart Wealth Advisory | In

That cost you money when selling a property

#1 Basing asking price on needs or emotion rather than market value.
Many times sellers base their pricing on how much they paid for or invested in their property. This can be an expensive mistake. If your property is not priced competitively, buyers will reject it in favour of other better properties for the same price.

At the same time, the buyers who should be looking at your property will not see it because it is priced over their heads. The result is increased market time, and even when the price is eventually lowered, the buyers are wary because "nobody wants to buy a property that nobody else wants". The result is low offers and an unwillingness to negotiate. Every seller wants to realize as much money as possible from the sale, but a listing priced too high often eventually sells for less than market value.

#2 Failing to "Present" the property.
A property that is not clean or well maintained is a red flag for the buyer. It is an indication that there may be hidden defects that will result in increased cost of ownership. Sellers who fail to make necessary repairs, who don't spruce up the property inside and out, and fail to keep it clean and neat, chase away buyers as fast as Real Estate Agents can bring them. Buyers are poor judges of the cost of repairs, and always build in a large margin for error when offering on such a property. Sellers are always better off doing the work themselves ahead of time.

#3 Over-improving the property prior to selling.
Sellers often unwittingly spend thousands of dollars doing the wrong upgrades to their property prior to attempting to sell in the mistaken belief that they will recoup this cost. If you are upgrading your property for your personal enjoyment - fine. But if you are thinking of selling, you should be aware that only certain upgrades are cost effective. Always consult with your Real Estate Agent BEFORE committing to upgrading your property.

#4 Choosing the wrong Agent or choosing for the wrong reasons.
Many property owners list with the agent who tells them the highest price. You need to choose an experienced agent with the best marketing plan to sell your property. In the real estate business, an agent with many successfully closed transactions usually costs the same as someone who is inexperienced. That experience could mean a higher price at the negotiating table, selling in less time, and with a minimum amount of hassles.

#5 Using the "Hard Sell" during showings.
Buying a property is an emotional decision. Buyers like to "try on" a property and see if it is comfortable for them. It is difficult for them to do if you follow them around pointing out every improvement that you made. Good Real Estate Agents let the buyers discover the property on their own, pointing out only features they are sure are important to them. Many sales are lost by overselling. If buyers think they are paying for features that are not particularly important to them personally, they will reject the property in favour of a less expensive property without the features.

#6 Failing to take the first offer seriously.
Often sellers believe that the first offer received will be one of many to come. There is a tendency to not take it seriously, and to hold out for a higher price. This is especially true if the offer comes in soon after the property is placed on the market. Experienced Real Estate Agents know that more often than not the first buyer ends up being the best buyer, and many, many sellers have had to accept far less money than the initial offer later in the selling process.

The property is most salable early in the marketing period, and the amount buyers are willing to pay diminishes with the length of time a property has been on the market. Many sellers would give anything to find that prospective buyer who made the first, and ONLY, offer.

#7 Not knowing your rights and obligations.
The contract you sign to sell your property is a complex and legally binding document. An improperly written contract can allow the purchaser to void the sale, or cost you thousands of unnecessary dollars. Have an experienced Real Estate Agent who knows the "ins and outs" fully explain the contract you are about to sign to you, or have your lawyer review it before acceptance.

#8 Failure to effectively market the property.
Good marketing opens the door that exposes the property to the marketplace. It means distinguishing your property from hundreds of others on the market. It also means selling the benefits, as well as the features. The two most obvious marketing tools (open properties and print advertising) are only moderately effective. Just 1% of properties are sold at open properties, and advertising studies show that only 3% of people purchased their property because they called on a print ad! Agents use these tools to attract future prospects, not to sell the property. The right Real Estate Agent will employ a wide variety of marketing activities, emphasizing the ones believed to work best for your property.

Being aware of these Big Time mistakes will help ensure you receive top dollar for your property when the time comes to sell your property!


Compare Mortgage Rates for Refinancing - Why Obtain Multiple Quotes?

Posted on 4:51 PM | By Smart Wealth Advisory | In

Obtaining multiple refinancing quotes will save you money and future headaches. By researching several lenders, you will find the most competitive rates. You will also be able to select a company that provides excellent terms and service for your budget priorities, saving you future hassles.

Save Money With Multiple Mortgage Offers

Lenders know people can find loan quotes in minutes on the internet, so they offer better rates and terms online in order to compete. Rates can vary as much as a point or more between companies on loans with the same terms. Depending on the size of your refinance, even a slight difference in rates can save you thousands.

By searching online, you expand the pool of available financing companies you can work with. So you can get the best loan rates, even if the company office is across the nation. Searching online also helps you save time on your search.

Better Terms With More Choices

The right terms can be just as important as finding the lowest rate. With online lenders, you have optimal options for the length of your loan. Cap limits on adjustable rate mortgages vary widely between companies and should also be considered in any mortgage decision.

Fees, for such things as early payment or application processing, can also differ considerably between companies. Comparing quotes will help you weed out the bad terms. But also know you have the option to negotiate these terms and fees with lenders.

Educate Yourself In The Process

One of the byproducts of researching refinancing rates is that you become better informed about the lending process and market rates. Understanding the terms, cost calculations, and loan fees helps you make better choices.

Knowing the differing terms will help you select the best loan package. So you may find that since you plan to move in less than seven years, a low cost refinance is better than the rock bottom low interest rate loan with high closing costs.

As with any large purchase, comparison shopping is imperative in find the best value on your next refinance. The time you spend now will pay dividends for years to come in lower monthly payments and interest costs.


Legislation To Protect House Buyers

Posted on 4:46 PM | By Smart Wealth Advisory | In

The Housing Developer Act (Control and License) 1966 (Act118) was enforced on Aug 29, 1969 while the Housing Developers Regulations came into force on April 1989. Both the act regulations are aimed at safeguards the interest of house buyers. However, such laws are only applicable in Peninsular Malaysia and do not cover housing development by cooperatives, government agencies and bodies, or commercial units such as hotels and business premises.

Monitoring and enforcement of the act is done by the Housing and Local Government Ministry's Monitoring and Enforcement Division Located on the fourth floor, Blok K, Pusat Bandar Damansara.


Monitoring and enforcement are handled by the housing Controller, Housing Inspector and Officers, who are appointed by the Housing and Local Government Minister.

The division conducts regular monitoring to ensure:

* Housing projects which have been given the Housing Developer's License by the housing controller are progressing as scheduled, without problems.

* Housing developer conform with the laws stipulated under the Act/Regulations such as possessing housing developer license and the conditions in the permit for advertising and sale; proper maintenance of the Housing Developer Account, standardization of the sale and purchase agreement in accordance with the sale and purchase agreement regulations as in Schedule G (land and building). These include bungalows, terrace houses and semi-detached units.

They also need to adhere to Schedule H (multi-unit buildings such as flats, apartments, condominium and town houses).

The monitoring of the projects are done through:

* Inspections and survey reports received from the housing developers. Under the Housing Developers Act (Control and Licensing) 1966, the developers must submit progress reports by filling form 7(F) to the Monitoring and Enforcement Division twice a year.

* Inspections at the project site, area and office. This covers various aspects such as advertising, progress of projects, payment and collections of monies by the housing developer, implementation of the sale and purchase agreements and other related matters. Developers are not allowed to amend, insert new clauses or cancel any part of the approval of the Housing Controller.

* Review of advertisements published by developers through newspapers, brochure, advertisement board and other channels to see whether they comply with the law.

* Monitoring of projects based on the information and complaints received from the public through letters, telephone calls, e-mail, whether published or aired in the mass media.

From the enforcement aspect, the Monitoring and Enforcement Division will take the necessary steps, including legal action, against the housing developers who flout the law. The violations can include proceeding with project without having obtained a valid license and necessary approvals violation of licensing conditions and failure to properly maintain their Housing Development Accounts.

Those who proceed with construction activities without a proper license can be fined RM100,000 or five years imprisonment or both. The same goes for housing developers who fail to open a Housing Development Account. For this offence, imprisonment is three years. For other offence, the housing developer can face up to RM10,000 fine or three years imprisonment or both depending on the rules they violate.

The Act also empowers the Minister to direct developers on matters related to save guarding the interest of house buyers.

The housing controller can also revoke or suspend the housing developer's license if he/she regards the offence as endangering the interest the house buyers or the public.
House buyers in the meantime are reminded to ensure that housing developers have the valid licenses and permits to advertise and sell.

They can seek information from the Monitoring and Enforcement Division by letter or e-mail to enforcement@kpkt.gov.my.

Government restrictions hampering developments in Malaysia

Posted on 4:39 PM | By Smart Wealth Advisory | In

Government restrictions on foreign workers could have a large impact on the number of new projects being built in Malaysia it has been claimed.

According to the Star Property, the country's FIABCI president Datuk Richard Fong warned that rules preventing foreign workers entering the country could have a negative effect on developers.

"We have already seen the effect of tightening the labor market five years ago when workers were sent home on an amnesty program. We will have the same problem again," the news provider reported him as saying.

"When the workers finally returned, we had to retrain them because they were unskilled. The workers returned but the issue that cropped up was quality, which in turn led to high rates of defects in the properties."

The Malaysia property market could be set to benefit from the economic recovery in Asia, Property Abroad recently suggested.

A growing tourism market and strengthening economy are likely to be beneficial to the country's real estate sector.

source: Propertyshowrooms.com

HOUSE BUYING GUIDE

Posted on 4:31 PM | By Smart Wealth Advisory | In

Some Important Aspects for House Buyers

Before you decide to buy a house, ensure that:

* The housing developer has a license and it is still valid.
* The housing developer has an advertisement and sales permit and it is still valid.

Determine the House Type

For landed property such as bungalows, semi-detached houses and terrace houses, the expected date of completion is 24 months from the date of signing of the Sales and Purchase Agreement.

For subdivided building such as condominiums, flats, apartments and townhouses, the expected date of completion is 36 months.

Buyers are advised to obtain from the housing developer the complimentary brochures with all the pertinent information about the project such the development's licence number, and advertisement and sales permit.

Land Status

Please ensure whether it is:-

* Freehold land - it is in perpetuity
* Leasehold land – check the number of years left
* Malay Reserve

* The status of the land can be checked at the Land Office or the State Land Registrar.

Brochure Information

Brochures are given free by the developers. Please ensure the brochure has the following information:-

1. The Housing Development’s License number and the expiry date;
2. The advertisement and sales permit number and the expiry date;
3. Name and address of:
1. the licensed housing developer
2. authorised agents (if any)
3. those holding power of attorney (if any)
4. the project management company (if any)
4. Land status
1. Freehold
2. Leasehold – number of years left
3. Encumbrances – whether the land has been mortgaged to the bank for a loan
5. Location description
1. building material specification
2. size of building
3. amenities/services
6. Name of housing project (if any);
7. Expected date of completion;
8. Price of each type of house;
9. Number of units for each type;
10. Reference number of the approved building plan and name of the local authority.


::: The rights of buyers must be understood as contained in the Sales and Purchase Agreement as per schedules G and H of the Housing Development (Control and Licensing) Regulation 1989.

First Payment

The first payment of 10 per cent must be made upon signing of the Sales and Purchase Agreement. Please ensure the date of signing of the SPA and the date of first payment are the same.

Be aware that the housing developer is not allowed to collect any form of payment without a Sales and Purchase Agreement being signed.

Architect Certification

Make sure any demand by the developer for instalment payment is supported by a certificate duly signed by an architect or a certified engineer.

Interest on Late Payment

If the buyer or end financier for the buyer fails to pay the developer the progressive payment/installment within 21 working days from the date of the written notice of payment from the developer, the buyer will be charged an interest of 10 per cent per annum on the installment not paid.

Termination of the Sales and Purchase Agreement

Be aware that failure to make the progressive payment or interest charged on late payment for a period of more than 28 days will give the developer the right to terminate the Sales and Purchase Agreement. The developer must serve the notice in writing by AR registered post of its intention to terminate the SPA.

Infrastructural Maintenance Fee

Buyers must pay the cost of maintaining the infrastructure from the date of vacant possession till the date the responsibility is taken over by the local authority or management corporation (in the case of a subdivided building).

Infrastructure is defined as:

* For land and building - Road, driveway, drains, sewerage, pipelines and sewerage tank for the housing development
* For subdivided building - Road, driveway, drains, sewerage, pipelines and sewerage tank for the building

Maintenance and Management Fee

From the date of vacant possession the buyer shall be responsible for paying for services such as:-

1. For land and building
1. Refuse removal, upkeep of drains and grass-cutting on the road reserves.
2. The buyer is responsible for such payment until such responsibility is taken over by the proper authority.
3. The buyer must pay a six months’ deposit upon being handed vacant possession for the services to be rendered. After six months, if the services are still not taken over by the relevant authority, any subsequent payment shall be payable on a monthly advance.
2. For subdivided building
1. Payment is for the cost of maintaining and managing the common area and payment starts when vacant possession is handed over.
2. The buyer shall pay one (1) month’s deposit and three (3) months’ advance in respect of the maintenance service charges and any payment thereafter shall be payable on a monthly advance.
3. Maintenance fee must be paid to the developer from the date of vacant possession up until the formation of a management corporation under the Strata Title Act 1985.
4. Once the management corporation is formed under the Strata Title Act 1985, maintenance services will be handled by the management corporation and the buyer must pay the maintenance fee to the management corporation and not to the developer.


*Reminder:- Maintenance fee must be paid as long as the buyer owns a parcel in the said maintained building.

Sinking Fund (For subdivided building only)

The buyer shall upon the date he takes vacant possession of the said parcel contribute to the sinking fund an amount equivalent to 10 per cent of the service charges.

The buyer shall pay one (1) month’s deposit and three (3) months’ advance in respect of the service charges to the sinking fund and any payment thereafter shall be payable on a monthly advance.

Payment of Quit Rent, Rate Assessment, etc

From the date of vacant possession or date of assignment, whichever is earlier, the buyer is responsible for the quit rent, assessment, rate payment and other charges relating to the property bought.

Vacant Possession

Vacant possession on the building complete with water and electricity connection must be handed over within 24 calendar months from the date of signing of the SPA for landed property and 36 calendar months for subdivided building.

Regulation and Rights of House Buyers during the Handing over of Vacant Possession Ensure the property is free from any encumbrances before accepting notice of vacant possession.

If the developer leases the land or the property, the developer must settle the balance payment before handing over vacant possession.

Conditions that must be followed by housing developers:-

1. Certificate from the developer’s architect stating that:
1. the building is completed
2. water and electricity are ready for connection
2. The developer has applied for:
1. the issue of the Certificate of Fitness for Occupation (CFO) through Form E *
2. the local authority has issued a notice stating that Form E has been checked and accepted by the relevant authority.


* Form E is an application from the developer’s architect to the relevant authority for the issue of the CFO.

The buyer is entitled to enter into occupation of the property only upon issue of the CFO by the relevant authority and renovation may be carried out only upon issue of the CFO and approval of the plan by the relevant authority.

While inspecting the building, any defect is recorded and handed over to the developer to be rectified. Make sure you obtain a copy of the report.

The buyer is entitled to claim for late delivery from the developer.

Damages

If the developer fails to deliver vacant possession of the building as stipulated by the SPA, it must pay damages calculated on a daily rest, 10 per cent per annum of the purchase price.

Defect Liability Period

The defect liability period is 18 months after the date of vacant possession.

Creation of Management Corporation for Subdivided Building

A management corporation will be created once the strata title of each individual parcel is issued to the owners.

Other functions of the management corporation include insuring and maintaining the building.

For further enquiries or complaints, you may contact:
Monitoring & Enforcement Division,
Ministry of Housing & Local Government,
Level 3, Block B North, Pusat Bandar Damansara,
50782 Kuala Lumpur.
Tel: 03-2094 7033
Fax: 03-2092 5049

Banks in Malaysia

Posted on 4:28 PM | By Smart Wealth Advisory | In

Commercial Banks
1 Affin Bank Berhad
2 Alliance Bank Malaysia Berhad
3 AmBank (M) Berhad
4 Bangkok Bank Berhad
5 Bank of America Malaysia Berhad
6 Bank of China (Malaysia) Berhad
7 Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad
8 CIMB Bank Berhad
9 Citibank Berhad
10 Deutsche Bank (Malaysia) Berhad
11 EON Bank Berhad
12 Hong Leong Bank Berhad
13 HSBC Bank Malaysia Berhad
14 J.P. Morgan Chase Bank Berhad
15 Malayan Banking Berhad
16 OCBC Bank (Malaysia) Berhad
17 Public Bank Berhad
18 RHB Bank Berhad
19 Standard Chartered Bank Malaysia Berhad
20 The Bank of Nova Scotia Berhad
21 The Royal Bank of Scotland Berhad
22 United Overseas Bank (Malaysia) Berhad.

Islamic Banks
1 Affin Islamic Bank Berhad
2 Al Rajhi Banking & Investment Corporation (Malaysia) Berhad
3 Alliance Islamic Bank Berhad
4 AmIslamic Bank Berhad
5 Asian Finance Bank Berhad
6 Bank Islam Malaysia Berhad
7 Bank Muamalat Malaysia Berhad
8 CIMB Islamic Bank Berhad
9 EONCAP Islamic Bank Berhad
10 Hong Leong Islamic Bank Berhad
11 HSBC Amanah Malaysia Berhad
12 Kuwait Finance House (Malaysia) Berhad
13 Maybank Islamic Berhad
14 OCBC Al-Amin Bank Berhad
15 Public Islamic Bank Berhad
16 RHB Islamic Bank Berhad
17 Standard Chartered Saadiq Berhad

International Islamic Bank
1 PT. Bank Syariah Muamalat Indonesia, Tbk
2 Unicorn International Islamic Bank Malaysia Berhad

Investment Banks
1 Affin Investment Bank Berhad
2 Alliance Investment Bank Berhad
3 AmInvestment Bank Berhad
4 Aseambankers Malaysia Berhad
5 CIMB Investment Bank Berhad
6 ECM Libra Investment Bank Berhad
7 Hwang-DBS Investment Bank Berhad
8 KAF Investment Bank Berhad
9 Kenanga Investment Bank Berhad
10 MIDF Amanah Investment Bank Berhad
11 MIMB Investment Bank Berhad
12 OSK Investment Bank Berhad
13 Public Investment Bank Berhad
14 RHB Investment Bank Berhad
15 Southern Investment Bank Berhad

Other Financial Institutions
1 ERF Sdn. Bhd.
2 Pengurusan Danaharta Nasional Berhad