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Sinking funds are much like a “rainy day fund” or savings plan for strata schemes.
They ensure that when major capital works are required or emergency repairs need to be made to common areas, the Joint Management Body/Management Corporation has a sufficient capital reserve to draw from.
Sinking funds can be used to cover expenses such as:
• Painting of the building
• Overhaul of lifts
• Driveway refurbishment
• Replacement of fencing
• Replacing common property on the interior and exterior of the building, including carpets, roofing and guttering
• Any emergency expenses that may arise
The proprietors shall pay the Charges in proportion to the shared units of their parcel.
The calculation on Charges costs is based on a shared percentage, which depends on a number of factors relevant to your parcel.
The total cost is divided amongst all owners based on this calculation. These factors include:
• Type of unit
• Total floor size of the parcel
• Shared facilities you have access to
• Shared access points
The Developer is collecting four (4) months’ advance of the Charges (Maintenance Fee) to be deposited into the maintenance account which is operated and maintained by the Developer until expiry of the Developer’s management period.
When a purchaser purchases a property, the terms & conditions clearly spells out the purchaser’s obligations and the commitments to purchase into the development, up till the point of Vacant Possession (VP).
The JMB/Management Corporation is legally responsible for maintaining and managing the building, determining the amount of the charges and sinking fund, and all other obligations under the Strata Management Act 2013.
The JMB/Management Corporation can take the following actions:
• No voting rights: If all or any part of common charges are unpaid within 7 days of a general meeting, a proprietor loses their entitlement to vote.
• Interest charges: Property management is legally allowed to charge interest at a rate of no more than 10% per annum for any common charges outstanding within 14 days of request for payment.
• Limit access to common areas or usage of the facilities (Gym, Swimming pool & etc.): Your access to common areas may be limited if you fail to pay the charges.
• Criminal charges: Under the Strata Management Regulation (Maintenance & Management) Act 2015, failure to pay maintenance charges can ultimately be judged as a criminal act.
1. Contact your property advisor and inform them of your intention.
2. A cancellation letter will be sent to the purchaser for confirmation and acknowledgement.
3. Once signed, send in the cancellation letter to the Sales Admin Department to kickstart the refund process.
4. It will take approximately 3 to 4 weeks for refund of payment.
5. Once the cheque is ready, the Sales Admin Department will contact you for collection of the cheque at Mah Sing HQ, or will assist to bank in your cheque strictly into a Maybank or Hong Leong bank account.
Provided the cancellation is due to ineligibility of the loan (loan rejection), we will need 2 bank rejection letters. For alternate reasons, no supporting documents are required.
Booking fees may vary based on the project. Hence, your refund amount is solely relied on the balance left after the deduction of penalties.
No, any unit booking cancellation will incur administrative charges which may vary according to project.
Upon receipt of the cancellation letter and necessary documents e.g loan rejection letter; your refund will be processed within the next 30 calendar days.
Refund may be collected as cheque at our HQ, or directed into a Maybank and/or Hong Leong bank account.
Please call the respective Sales Admin to check on the refund status. The sales admin team is required to check with Finance on the status of cheque issuance and will get back to you within the same working day.
Yes, this is possible. We will transfer the booking fee to the new unit once the original unit is cancelled from the system, but with an RM500 charge.
The purchaser is required to fill up the Amendmend Form and sign the new booking form. The sales staff will lock in the new unit into the system upon this.
There upon, our Sales Admin Department will process and cancel the earlier unit in the system.
• An account statement is a periodic statement summarizing account activity over a set period of time.
• Account statements can be thought of as a summary of the account and include statements of services provided, fees charged, and money owed.
• Account statements should be scrutinized for accuracy, and historical statements are critical for budgeting.
It is an affordable home for the middle-income group who is born, residing and working in the Federal Territory
Yes, you may request for it via email to crm@mahsing.com.my or from the Management Office
You may request for the Authorisation Form via email at crm@mahsing.com.my, condo master system, or via walk-in at the Management Office.
Yes, but your representative is required to bring along an authorisation letter.
Please provide your email address and we will email the softcopy of the Authorisation Letter to you.
However, if you prefer a hardcopy of the Authorisation Letter, you may collect it at Wisma Mah Sing in Jln Sg Besi, KL. Our business hours are Mondays to Fridays, 0900 to 1800.
You will receive only one (1) copy of the Authorisation Letter.
SPA is a legal binding agreement when a buyer and seller are entering into a real estate transaction.
Authorisation letter is a document to grant permission on the refund cheque to the payee.
SPA is a legal binding agreement when a buyer and seller are entering into a real estate transaction.
Authorisation letter is a document to grant permission on the refund cheque to the payee.
It also known as “Borang 14A”, a document used to transfer/register the property from the Developer to the Purchaser’s name. (Title is earlier registered under Proprietor’s/Developer’s name).
MOT is prepared by Solicitors and normally signed by the Purchaser before the Solicitors at their office. No copies are extended to the Purchaser, however you may request for a photocopy of the MOT from Solicitors for record purposes.
The MOT will include your particulars and information related to the purchase of the property, as well as property particulars.
Yes, you may request for a new one from the Solicitors.
Please contact your respective SPA Solicitor (the particulars of which are stated on the front/cover page of your SPA).
Below is a list of some of our Panel Solicitors that you may refer to:-
List of Panel Solicitors:
1. HALIM HONG & QUEK
SUITE 19-21-1, LEVEL 21 (LOBBY B),
WISMA UOA CENTRE, 19, JALAN PINANG,
50450 KUALA LUMPUR
(PIC : Ms Chong Lee Hui)
2. GERALDINE YEOH ARJUNAN & ASSOCIATES
902, LEVEL 9, UPTOWN 1, NO. 1 JALAN SS21/58
DAMANSARA UPTOWN, 47400 PETALING JAYA, SELANGOR
(PIC : Ms Chew Chung Huay)
3. KHAIRIN NISA & CO
NO. 58C, 3RD FLOOR, JALAN SS22/25, DAMANSARA JAYA
47400 PETALING JAYA
SELANGOR
(PIC : Ms Chan Jing Yi/Ms May)
1. The developer will notify the Purchaser on the issuance of the IDT/IDST and instruct the SPA Solicitors to prepare the MOT.
2. The Purchaser may also appoint his/her preferred solicitors to attend to the preparation of the MOT.
3. The purchaser is required to settle the SPA payment and other outgoings in full before the execution of the MOT and release of the IDT/IDST by the developer to the purchaser/their solicitors.
4. Once the MOT is presented at the relevant Land Office, thereafter the IDT/IDST will be registered in the Purchaser’s name.
5. For financing cases, registered IDT/IDST will be forwarded to the End-Financier as the Chargee Bank through the attending solicitors and shall only be released to the Purchaser upon full settlement of the loan with the Bank.
6. For cash payment, the IDT/IDST shall be released to the purchaser through the attending solicitors once it is duly registered.
Purchaser may check/get advice from Solicitors for further clarification.
The loan agreement may be pending for stamping at the High Court. The loan agreement may also be with the financier’s solicitor pending for execution. Kindly check with your end-financiers solicitor.
We will reply immediately upon receiving the acting letter / loan documents from relevant end-financier solicitors & a letter will be copied to the purchaser and end-financier.
Request for installments is reviewed on a case-by-case basis. Kindly write in your request for approval, with interest to be charged on any outstanding payment.
No, all payments need to be made before Vacant Possession.
The mention of GST is in our billing format, however the GST rate will indicate 0%.
By cheque / direct banking into the respective company account.
Yes, a receipt will be sent to you by email upon payment clearance.
Yes, we will scan a new copy and email to you upon request.
Please email crm@mahsing.com.my for assistance.
In this instance, please email crm@mahsing.com.my for clarification.
Yes, you will be issued separate receipts.
Interest will be charged on the late payment in accordance with the Sales & Purchase Agreement.
Payment is to be made before the due date as per the billing invoices.
The administrative charges on assignment or transfer of property are used for preparing, checking, vetting and execution of the relevant documents.
Please refer to the package offered. Purchaser is required to fill up and sign the Letter of Confirmation & Authorization to Credit Admin Department for refund process.
Excess payment will be refunded upon stage 2A after bank disbursement and/or Vacant Possession.
This is subject to your housing loan package. In normal cases, upon 1st release of the progress payment from your end-financier to developer, you will service the monthly interest charges. Thereafter, upon 100% progressive release from your end-financier, you will service both interest charges and the principle amount.
It is advisable to contact your end financier to find out the housing loan process between you and the end-financier.
You may pay the assesment fees at the City Council office. The assesment fees are payable in two instalments annually, on or before February 28 or 29 (for the period of January to June), and on or before August 31 (for the period of July to December).
Solicitors can only be changed within the panel of lawyers if the SPA & LA are not executed. In this case, the Sales Admin can assign the purchaser to another lawyer
If SPA & LA have been executed, purchaser is not allowed to change solicitor as SPA & Loan legal fees are borne by the developer
We do not allow purchaser to appoint external lawyers and we will not bear all the solicitor’s legal fees.
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NATIONALITY: Malaysian
DATE OF APPOINTMENT: 1 August 2023
ACADEMIC / PROFESSIONAL QUALIFICATION(S)
Admiral (R) Tan Sri Dato’ Seri Abu Bakar Bin Abdul Jamal was the 10th Chief and the first four-star Admiral of the Royal Malaysian Navy. Admiral (R) Tan Sri Abu Bakar served the Royal Malaysian Navy for almost 40 years both at the staff and command levels culminating in the highest office of The Chief of Navy from 1998 to 2002.
Admiral (R) Tan Sri Abu Bakar was the former Chairman of Affin Fund Management Berhad and also the former Chairman of several companies covering diverse industries post his retirement including naval and marine, property development, construction and automative. He was also a former Board member of Lembaga Tabung Angkatan Tentera (Armed Forces Fund Board).
In recognition of his services not only to Malaysia but also towards promoting international and regional understanding and peace, Admiral (R) Tan Sri Abu Bakar was bestowed the Panglima Setia Mahkota award carrying the title Tan Sri. In addition, he also received international recognition in the form of the following awards:
There is no family relationship between him and any director and/or major shareholder of the Company.
