JB folk cash in with ‘illegal rooms’

JB folk cash in with ‘illegal rooms’

Monday, February 17, 2014 – 11:45

New Straits Times

JOHOR BAHRU – Some unscrupulous homeowners in Johor Bahru have been caught extending and renovating their houses illegally to build more rooms to be rented out.

There are cases where three-room single-storey semi-detached houses were transformed into double- storey units with 24 rooms in each unit.

This was done by extending the back portion of the houses, their sides and roofs.

These extensions do not adhere to specifications set by the local authorities.

They also posed a fire hazard to occupants.

This matter has reached the ears of the member of parliament in Johor Bahru, Tan Sri Shahrir Abdul Samad, who visited two such houses in Kim Teng Park in Johor Bahru yesterday.

He believed that house owners were hoping to cash in on the high demand for rooms by converting their properties into dormitories.

“With their high number of tenants, poor ventilation and extensions close to fences, such houses are a fire hazard.

“The also pose safety and security risks.”

Accompanying Shahrir were Johor Bahru City Council (MBJB) whip, Yahya Jaafar, and officers from the MBJB Building Unit.

It was learnt that one of the houses had 24 rooms, while the other had 22 after renovations. Both units belonged to the same owner.

Checks showed that a small partition, measuring four by six metres, was rented out for RM500 per month.

A slightly bigger “room” could fetch RM600.

Most of the rooms were equipped with a fluorescent light and a ceiling fan.

The tenants are believed to be those working in Singapore, as Kim Teng Park is about 1km away from the Customs, Immigration and Quarantine Complex.

Yahya said under the Uniform Building By-laws, it was a must to have a 2m gap between the side or the back of the house and the fence, and a 3m gap between the roof and the gate.

“Both houses did not comply with the specifications.

“MBJB must carry out more inspections to put a stop such illegal extensions. This is a residential area, not a hostel zone.”

 

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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