MKH Bhd managing director Tan Sri Eddy Chen: The data centralisation is much needed and I understand it is work in progress now.

As people fear losing their jobs and companies fear closures

Rehda president Datuk Soam Heng Choon: More importantly, the HOC is about the benefit to homebuyers when the government comes out to help them reduce their financial burden such as giving  stamp duty waivers for loan instruments and on the memorandum of transfer

“Those with large unbilled sales may feel the cash flow constraints much later maybe 1.5 years later,” said Datuk Soam Heng Choon, Real Estate and Housing Developers’ Association (Rehda) president.

“This time around, will the property sector survive the mother of all crises?"

“Although there are teething problems, but we are confident that should everyone play their part, we will be able to face the challenges head on to minimise any adverse impact,” MBAM President Foo Chek Lee and REHDA President Dato Soam Heng Choon said in a joint statement.

疫情肆虐，我国乃至全球经济前景黯淡，专家们预测房市可能需要等待数月，甚至数年时间方能恢复元气。

Getting out of the downturn this time around could be more difficult as it involves a major public health issue that is the Covid-19 pandemic, which has, together with other economic issues, impacted the economy not just in the country but globally.  Estimations on economic recovery range from months to years, and similarly, the property market would possibly enter into a down cycle before recovering.

Rehda president Soam Heng Choon said he feared that the next nine to 12 months would be tough for the industry and employers might have to resort to asking their employees to accept “slight” reductions in wages.

“Rehda is of the opinion that the enactment of such a bill (force majeure exemption bill or a COVID-19 (Temporary Measures) Bill) will be beneficial not only to purchasers, developers, financiers and other property industry players, but also those in other industries that form Malaysia’s economic ecosystem.”