u might want to think about it again. there was a circular from the bar council prohibiting lawyer to be involved in this transaction.

the circular can be downloaded from the bar council website.

but anyhow, i paste it for everyone's reference.

Circular No 133/2011
Dated 27 June 2011

To all Members of the Malaysian Bar

Practice of Inflating Purchase Price in Sale and Purchase Agreements for the Purpose of
Obtaining a Higher Loan Amount


The Conveyancing Practice Committee (“CPC”) of Bar Council recently received a query from a
Member of the Bar on how to deal with the practice of inflating purchase price in sale and
purchase agreements for the purpose of obtaining a higher loan amount.

CPC notes that in general, a request to inflate the purchase price in a sale and purchase agreement
originates from a purchaser who wishes to fraudulently misrepresent to his financier that he is
buying the property at the inflated price so that he can secure a higher loan.
After having considered advice given by the Criminal Law Committee of Bar Council, CPC is of
the view that:

(a) in a transaction where both the vendor and the purchaser agree to increase the
purchase price for the purpose of enabling the purchaser to obtain a higher loan, the
vendor or the purchaser and/or both may be guilty of the offence of cheating or
fraud, or abetment, as the case may be, which are offences punishable under the
Penal Code;

(b) if a solicitor acts, either for the vendor or the purchaser, and has full knowledge of
the increase in price for the purpose stated in (a), and prepares the sale and purchase
agreement or related “side arrangements”, the solicitor may also be guilty of the
offence of cheating or fraud, or abetment, as the case may be, which are offences
punishable under the Penal Code; and

© in any event, a solicitor who acts in the circumstances described in (b) may be
guilty of misconduct within the definition ascribed to it in section 94(3) of the Legal
Profession Act 1976.

Members are therefore advised not to be a party to such a practice.

Thank you.
Abdul Murad b Che Cik
Chairperson
Conveyancing Practice Committee