Stakeholders in the real estate industry have opposed amendments to the Valuers, Appraisers and Estate Agents Act 1981 with respect to property management.

Institute of Engineers, Malaysia (IEM) president Tan Yean Chin said several memoranda have been submitted over the last two years to various ministries to reconsider the amendments. The latest was handed in to the finance ministry on Aug 14.

"Unfortunately, there has neither been a reply nor meetings to discuss the matter," he told a press conference held in Parliament house today.

Ayer Itam MP Dr Wee Ka Siong, who was present, said he would ask the ministry to reply on the matter during its winding-up speech on Thursday.

He pointed out that the proposed amendments were not acceptable to stakeholders, mainly comprising owners of condominiums and shopping complexes.

It is unfair of the government to retract the rights of stakeholders by preventing them from choosing a property manager and forcing them to select one from among registered valuers, he said.

"The work of property managers is based on hands-on experience that does not require technical knowledge. Hence, other professionals such as architects and marketers are also eligible to act as property managers," Wee said.

He said property managers have a responsibility to resolve conflicts between owners and tenants and to liaise with tenants.

"I don't see what justification the government has in proposing amendments to the Act, which is for the benefit of stakeholders," he said.

He stressed that, in attempting to comply with the Act, the industry might end up with an 'Ali Baba' system where valuers will be the only professionals who can be the official property managers.

Representatives of various stakeholder associations suggested that a tribunal - a commissioner of buildings - should be set up to resolve disputes between owners and tenants.

They said this should be established as an independent body to tackle the root cause of problems through expeditious resolution of disputes.

The stakeholders represented today included the Management Corporations and Residents Associations, IEM, Association of Consulting Engineers Malaysia and Associated Chinese Chamber of Commerce and Industry Malaysia.