Published: Thursday October 18, 2012 MYT 2:23:00 PM
Updated: Thursday October 18, 2012 MYT 2:50:05 PM
4,608 housing development company directors blacklisted
By MARTIN CARVALHO
KUALA LUMPUR: Some 4,608 housing development company directors have been blacklisted by the Government for abandoning their housing projects said Housing and Local Government Minister Datuk Seri Chor Chee Heung.
"So far, 4,608 company directors involving 1,337 housing developing companies have been blacklisted for abandoning their housing projects," he said when winding up the budget speech for his ministry in Parliament Thursday.
He noted that there is no indefinite period for those blacklisted be it in their personal capacity as directors or the companies unless satisfactory steps have been taken to revive their abandoned projects.
"Those blacklisted will be blacklisted for life unless they prove they have taken steps to revive their projects," he said.
Besides this, he said that the ministry could also resort to charge errant directors in court under the new amendments under the Housing Development (Control and Licensing) Act 1966, which carries a hefty fine and jail term upon conviction.
Earlier, Chor said since 2010, RM117mil was provided by the Government to revive abandoned projects with additional RM100mil announced under the 2013 Budget.