Under table? Wow...open corruption. So IJM encourages corruption among the staff?

This is getting messy...hmmm...

of course govt can do many thing...like impose every child to have muslim name....chinese, tamil and english sounded name not allowed (like in indonesia)....
or all projects must have malay names...english name not allowed and etc...

but would it be popular restriction?

anywhere like I said, internal staff booking or relationship booking...as public purchasers, we are the last in the group to buy anywhere.......you can impose say 20-30% max staff purchasing, but does this ensure you that the company cant presell to any parties prior to public releases?

"Popular restriction" does not equal to effective and right policies.

"anywhere like I said, internal staff booking or relationship booking...as public purchasers, we are the last in the group to buy anywhere" - anywhere here refers to Malaysia I reckon. Well, have you looked at what other countries do?

That last sentence in your para - it's all about implementation + monitoring...

Yup... It happened everywhere... Malaysia is still a bolehland for all mission impossible....

If freehold, there is no need for consent for MOT

Because it's MRL (freehold), that's why there is need to get consent for MOT so as to meet the bumi requirement

So this is MRL, nothing to do with freehold or leasehold

we can argue until the cow comes home, but bear in mind that we are 3rd world country....not developed country yet...
u look at other countries, 99 years lishold is good already....i know some countries only allowed 60yrs or 33 years lease nia...

implementation is one thing...monitoring and imposing fine are another things.

just look at SOVO/FO thing to get pass LTV...such a big loophole.....

Other developer company polices on staff purchase is:

1) quota on the number of units available for staff. Say total project units 300 and staff quota is 10% then staff only can book 30 units. If 40% of the units are good view then still have 30% good view unit after staff allocation.

2) Staff must sign S&P either in their own name or join name with another person. So the only profit opportunity is for the staff to JV with a third party

3) Staff not allow to book and then transfer name to third party

I admire your style bro. I'm new to property investment and the only developer that has been fair is only YTL where everyone has to queue for it inclusive of internal staff, no funny booking first. SPS as well with balloting or first come first serve basis. Please share if there's other good developer out there.

Vote with your money. You can always choose not to buy their products. Its not like condos are scarce in KL.

YTL only selected projects......and recently only...not like this is embedded in their corp DNA.
SPS same also.....
if you wanted to buy Eco Setia Park....see if they follow this rule as golden thumb or not!
Most choice units or corner units kena blocked off....as usual.....

This post has been edited by BEANCOUNTER: Sep 1 2013, 03:42 PM

Prior bookings by staff n biz associate is norm nowadays
V need to accept dis fact n move forward
Otherwise sub sale is d target

Putting aside the speculative element,, I would like to buy property where the staff are also keen to buy. And if I work in developer firm, I expect to have slight advantage to choose unit compared to public. But it is understandable that it's not easy to define 'fair'.

Beside that, I am trying to understand pricing on this area. ..UOA Southview, freehold with Lrt but high density, seem to have similar price level with this project. . which would you choose?

Just visited UOA South View. Wow sales quite impressive.

About developer selling to internal staff. I think generally most developers think this is their private affairs and they want to "benefit" their staffs. UOA has 3 or 4 floors for staff in South View Block A.

I think developers should prioritise STAFF THAT HAVEN'T GOT HOME. Haha. We should not be encouraging staff becoming an illegal Agent to speculators.

This post has been edited by accetera: Sep 1 2013, 08:07 PM

Developer giving internal staff with pre booking or discount is 1 of the staff benefit for developer staffs... It practice in all developer companies in Malaysia...

Normally the developer will fight for certain percentage for non-bumi. So its depends

Yes, this is what I am talking about - a much better approach.
Nothing against selling to staff - but for the right reasons. I also know of several developers who do this, so all good.

But in this case, it allows the staff to take under-table $$$ (based on the posting, not from me), and thereafter, leave crap units to con the public. I mean - seriously???

So yup, there are many good condos in KV - this one is out.

Wat is d success rate?

Cant tell.
Some can get 50-50, some even getting 70-30 quota

my uncle's company

Most MRL quota 50:50 only...