Transcript
THE BOARD OF VALUERS, APPRAISERS AND ESTATE AGENTS, MALAYSIA.
MALAYSIAN PROPERTY MANAGEMENT STANDARDS
A-27-15, LEVEL 27, TOWER A, MENARA UOA BANGSAR, NO. 5, JALAN BANGSAR UTAMA 1, 59000 KUA LA LUMPUR. TEL: 03-2288 8815, 2288 8816, 2288 8817 FAX: 03-2288 8819 URL: http://www.lppeh.gov.my
!"#"$%&"' )*+),*-$ !"'".,!,'%-"'/"*/%
-01 23456 37 849:15;< "==54>;15; "?6 ,;@4@1 "A1?@;< !494B;>4C
!"#"$%&"' )*+),*-$ !"'".,!,'%-"'/"*/%
-01 23456 37 849:15;< "==54>;15; "?6 ,;@4@1 "A1?@;< !494B;>4C
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
/"-+ %*C "2/F##"G -G"#&-G 2&' !/ -G"'& )51;>61?@ 23456 37 849:15;< "==54>;15; 4?6 ,;@4@1 "A1?@; !494B;>4 H !4B IJHJ
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
/#04 M$#'.#2. .*#(5 3%$4 # 0*2$#%' #5,*0$ &8 ,2&,*2$9 -#'#1*-*'$< L%$4%' *#04 5$#'.#2. %5 #' K"DU_)>QDK_" $& $4* 5$#'.#2. 34%04 5*$5 &6$ $4* 72. &7P*0$%+*5A $4* MD?D/C/"DM _\ MD?")?U) #'. 8&((&3*. 79 /`Ba?"?DK_"M %' $4* (#5$ 5*0$%&'< D4*5* M$#'.#2.5 #%-5 $& 0&+*2 $4* O*9 #5,*0$5 &8 ,2&,*2$9 -#'#1*-*'$ 76$ 54&6(. '&$ 7* $#O*' #5 *:4#65$%+*< K$ %5 *:,*0$*. 8&2 B2&,*2$9 C#'#1*25 $& 65* $4%5 M$#'.#2.5 #'. #.4*2* $& %$5 ,2%'0%,(*5 #'. .%2*0$%+*5 0#2*86((9 $& #04%*+* $4* 2*V6%2*. 5$#'.#2.5 &8 ,2&,*2$9 -#'#1*-*'$< D4* M$#'.#2.5 #2* -#'.#$&29 #'. 54#(( 0&-* %'$& 8&20* &' H S:?1 IJHJC B2&,*2$9 C#'#1*25 #2* 2*V6%2*. $& #.4*2* $& $4* 5$#'.#2.5 5$2%0$(9<
K+'-,'-% \&2*3&2.<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<@ B2*8#0*<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< )*8%'%$%&'5 ?'. C*#'%'15 ?5 >5*. K' D4* M$#'.#2.5<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<+ MD?")?U) R<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<Ka)K"= C?"?=/C/"D MD?")?U) W<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<U?"Q/ C?"?=/C/"D MD?")?U) S<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<,&' $#O%'1 &+*2 $4* ,2&,*2$9A $4* B2&,*2$9 C#'#1*2 54#(( 0#229 &6$ # 1*'*2#( %'5,*0$%&' #6.%$ $& *5$#7(%54 $4* 0622*'$ 5$#$* &8 2*,#%2 #'. 0&'.%$%&' &8 $4* 76%(.%'1A %'82#5$260$62*A %'5$#((#$%&' #'. 8#0%(%$%*5f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c&2 0&'$2#0$ 5$%,6(#$%'1 $4* 5,*0%8%*. $*2-5 #'. 0&'.%$%&'5 %5 %556*. 79 $4* Q(%*'$ $& $4* 5600*5586( 0&'$2#0$&2c$*'.*2*2 6'(*55 $4* B2&,*2$9 C#'#1*2 %5 2*V6%2*. #'. #6$4&2%;*. %' 32%$%'1 79 $4* Q(%*'$ $& 5%1' $4* (*$$*2 &8 #3#2. #'.c&2 0&'$2#0$ &' 7*4#(8 &8 $4* Q(%*'$<
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g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
D4* 0&--&' $9,*5 &8 J6%(.%'1 M*2+%0*5 %'0(6.* 76$ #2* '&$ (%-%$*. $& $4* 8&((&3%'1hg RI GI XI HI WI [I ZI TI SI RYI RRI RGI RXI RHI
?%2 0&'.%$%&'%'1 595$*J6%(.%'1 #6$&-#$%&' 595$*Q#2 ,#2O%'1 Q(*#'%'1 e 5#'%$#29 Q&--6'%0#$%&'5 Q&'5$260$%&' e *'1%'**2%'1 /(*0$2%0#( e -*04#'%0#( 595$*-5 \%2* ,2&$*0$%&' 595$*\(&&. 1#$* L#$*2 8*#$62*5 =*'*2#( 2*,#%25 =&'.&(# K'562#'0* KD *V6%,-*'$
RWI R[I RZI RTI RSI GYI GRI GGI GXI GHI GWI G[I GZI
a#'.50#,%'1 a%8$5 e *50#(#$&25 ?.+*2$%5%'1 e 5%1'#1*5 B*5$ 0&'$2&( B(6-7%'1 U*865* .%5,&5#( U&((*2 546$$*25 U&&8%'1 M*062%$9 M*3*2#1* M6,*2+%5%'1 *'1%'**2 M3%--%'1 ,&&( L#$*2 ,2&&8%'1
!"#"$%&"' )*+),*-$ !"'".,!,'- %-"'/"*/% %-"'/"*/ Z D&'"'K&"# !"'".,!,'ZCHCJ &'-*+/FK-&+' [C
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
>>C
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
[C
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
%%<
):O9>N 9>4O>9>@B >?;:54?N1 B67(%0 (%#7%(%$9 %'562#'0* %5 $& %'.*-'%89 $4* Q(%*'$A $4* B2&,*2$9 C#'#1*2 #'. $4* Q(%*'$@5 #1*'$5 #1#%'5$ 0(#%-5 8&2 .#-#1*5 #2%5%'1 82&- #0$5 &8 '*1(%1*'0* &2 &-%55%&' 79 $4* Q(%*'$ #'.c&2 4%5 5*2+#'$5c#1*'$5<
%%%<
"99 5>;[; >?;:54?N1 ?' #(( 2%5O5 ,&(%09 %5 $& 0&+*2 #(( &$4*2 ,&55%7(* ,*2%(5<
%+<
)94@1 A94;; >?;:54?N1 L4*2* $4* ,2&,*2$9 4#5 1(#55 82&'$ &2 1(#55 *:$*2'#( 0(#..%'1A # ,(#$* 1(#55 %'562#'0* ,&(%09 54&6(. 7* 0&'5%.*2*.<
+<
+@015; D4* B2&,*2$9 C#'#1*2 -#9 %'8&2- $4* Q(%*'$ &8 $4* 5*2+%0*5 &88*2*. 79 %'562#'0* 72&O*25 34& ,2&+%.* -&2* *:$*'5%+* #.+%0* &' %'562#'0* -#$$*25 #'. &' #'9 &$4*2 %'562#'0* ,2&.60$5 #+#%(#7(*<
!"#"$%&"' )*+),*-$ !"'".,!,'- %-"'/"*/% %-"'/"*/ ^ G,"#-G< %"D,-$ _ ,!,*.,'K$ !"'".,!,'^CHCJ &'-*+/FK-&+' S