The bank certainly knows how to value a property even without a registered valuer. Govt statistics & national economics r easily accessible & they have the experts at their service. Most of all they have the latest compilation of latest loan applications via their netwk of branches thru out Malaysia.
I went to a bank & in 2 shakes, the attending officer showed me a print out from their database how much I max loan could be available for the property in question. So why pay for a valuer, when the bank can do it themselves since they already have a base figure to work from & they have the last say on the value?