By DayakDaily Team
KUCHING, March 26: The Sarawak Housing and Real Estate Developers’ Association (Sheda) has raised concerns over liquidated ascertained damages (LAD) during a discussion with Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg today.
In a TVS news report, Sheda vice president Louis Ting said Abang Johari assured them of his willingness to provide guidance and support in addressing industry-related challenges.
“The Premier has given full backing to Sheda in all our initiatives, including discussions on levies and other pressing issues. One of the key topics under deliberation is LAD, which takes effect from the booking date,” he said.
He added that Abang Johari acknowledged the difficulties faced by the industry and pledged to take necessary steps to resolve them.
Ting shared these remarks with reporters after accompanying Sheda president Augustine Wong to pay a courtesy visit to the Premier at Wisma Bapa Malaysia today.
LAD is a financial penalty imposed on developers for failing to complete housing projects within the timeframe stipulated in the sale and purchase agreement.
The clause serves to protect property buyers by compensating them for delays that could result in financial strain.
Deputy Premier and Minister of Public Health, Housing and Local Government Datuk Amar Dr Sim Kui Hian was present. — DayakDaily
