MALAYSIAN property players want the government to pass a law that will protect all industries from legal actions following the implementation of the Movement Control Order (MCO).
The Real Estate and Housing Developers’ Association (Rehda) president Datuk Soam Heng Choon (picture) said the association applauded the government’s measures to protect the rakyat who are facing difficulties in meeting their financial obligations during these trying times.
He said the MCO, which has since been extended to April 14, has resulted in the halt of all non-essential activities, including disallowing many parties to perform their contractual obligations.
“However, we believe that an all-encompassing force majeure exemption bill or a Covid-19 (temporary measures) bill to lawfully protect players of all industries is much needed to ensure that every party is safeguarded from any form of penalisation that would be imposed under normal circumstances,” he said in a statement.
Media Title: The Malaysian Reserve
Date: 09 Apr 2020