The countdown to the adoption of IFRIC 15 has begun. From July 1, developers are to recognise revenue only upon the completion of a project instead of the current percentage-of-completion method. Can IFRIC 15 work for Malaysia where most properties are sold off the plan? Ironically, the Inland Revenue Board will continue to tax developers based on the current accounting method.

KUALA LUMPUR: The impending scrapping of the retail licences for steel and cement will benefit hardware stores but will have little effect on larger property developments, President of Master Builders Association Malaysia (MBAM) Datuk Ng Kee Leen said on June 24.

KUALA LUMPUR: The Real Estate and Housing Developer’s Association (REHDA) Malaysia on Tuesday, June 22, elected Datuk Micheal Yam Kong Choy to be the President of the National Council Members for the 2010/ 2012 session.

Its Annual Delegates’ Conference was held on June 19, and was attended by 102 voting delegates from its branches nationwide.

Malaysia’s own Green Building Index (GBI) was launched in May last year. Initiated by building professionals with initial funding from Pertubuhan Akitek Malaysia (PAM) and in collaboration with the Association of Consulting Engineers Malaysia (ACEM), the GBI is now being funded by the Malaysia Investment Development Authority (Mida).

KUALA LUMPUR: The Real Estate and Housing Developers' Association (REHDA) of Malaysia has set up a task force to address issues arising from Malaysia's adoption of the interpretation issued by the International Financial
Reporting Interpretations Committee (IFRIC) 15.

KUALA LUMPUR: The Real Estate and Housing Developers' Association Malaysia (Rehda), in welcoming the appointment of Datuk Chor Chee Heung as Housing and Local Government Minister, is optimistic he would continue with the existing open-door consultation approach adopted in the housing industry.

KUALA LUMPUR: The rising cost of building and construction materials in Asia is still at a manageable level, said the Master Builders Association of Malaysia (MBAM).

KUALA LUMPUR: Real Estate and Housing Developers' Association (Rehda) Malaysia condemns the acts of governing officials in purchasing low-cost housing meant for low-income groups as reported in a daily newspaper on May 21.

KUALA LUMPUR: The quality and standard of new property developments in the city, rivalling some of the region’s best, is a story waiting to be discovered, said N K Tong.

The newly-elected 2010-12 chairman of Real Estate and Housing Developers’ Association (Rehda) Kuala Lumpur Branch said the city’s real estate seemed to have benefitted from the recent global economic meltdown.

KUALA LUMPUR: Datuk Ng Tiong Lip, better known as Datuk Jeffrey Ng, 53, has resigned as an executive director  at Sunway City Bhd (SunCity) effective May 20, said a Bursa Malaysia announcement on the same day. 

The former Managing Director of Asia Pacific Land Berhad was appointed to the Board of SunCity on March 3, 2008.