Lawyer | INNERBLOG

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Malaysian businessmen for the past 40 years were misguided by many people who called themselves professionals in the fields that weren’t supposed theirs. We are a new business minded people in business dealings, just learning how to walk, but then are doing thing that a superman does, such as to fly by jumping out of the window of a 20-storey high-rise office and survive.

Certainly many of you in the business world think that laws in the country could protect legitimate deals. Of course they do, but greed which brings in the illegitimate ones that you think the law and the lawyers could protect such as making water disperses into a thin mist then profited out from that kind of illegitimate works, does not.

Many have sorted to do illegitimate cases which have left banks and financial institutions dirge with non performing loans over the past many years. Certainly we are a society which has a limited knowledge on the roles of professionals in this country, which has resulted into scrupulous dealings that will eventually destroy everyone in the nation, for sake of a fairer distribution of wealth because of improper advice from so-called CONsultant professionals.

Land dealings should involve not only lawyers. Lawyers should be contacted to interpret wishes of the persons interested in a particular transaction, and interpret the wishes in line with the law of the land in the form agreements or other forms that provided and protected by the laws.

Land dealings should also involve other professionals so that they too can protect the interest of the persons involved from the onset of any intentions in the deals.

There are obviously some discrepancies in any dealing if it involves a land worth RM25 million bought today and sold at RM200 million the next day. Please know that there’s no shot cut in making fast money in this country or in this world. This kind of transactions would involve false intentions thus using false documents of the power of attorney (Power Attorney Act 1949), or false feasibility studies or valuation reports, or false loan cum assignment agreements, false “Borang 14As” of NLC, false sale and purchase agreements, false I.Cs, and most of them all false hearts from faulty and horrible people of the lots.

It’s the time that roles of professionals other than lawyers in this country be recognized and explained to the public so that lawyers should not play a single and most important role in land deals like what happen now or believing in its superior role now; from being a property agent, making up the agreement, taking up deposit, involving in submissions of documents to the land office, make deals with bankers and seeing difficult and unscrupulous deals through on their strength in connection for their own benefit.

Please learn from mistakes of the past. Lawyers are not the only one who can protect your interest. Talk to professionals who know the value of the land, its size, the town planners, architects, building economics, and most of them all, the people on the street, the Malaysian who are not greedy, the pak cik and mak cik, who have lived in the areas for decades to find the truth of all intentions made up by lawyers, unlicensed land brokers or loan arrangers.

There, out there, there are people who have license to kill, like the James Bond; the greedy lawyers, loan arrangers and you. Beware!

Note: The method of land scam in similar case as this one is that the land is sold to A at say RM10 million at a very high discount. Using a power of attorney in the name close to the lawyer or the lawyer himself as beneficial owners of the subject property. The fact is that the current market value of the land is say RM1 million. Using a sale and purchase agreement at RM10 million the buyer will go to a bank for business loans or financing at 60% to 90% of RM10 million using a third-party charges. After the loan is obtained the full payment is made to the lawyer who then disburse some money to actual owner who had sold at a much lower price (RM1 million in this example) and final transaction of land is made between the new buyer who knows nut about the scam. All documents (conversion of land use, premium paid, i.cs of real owners, photographs, town planning approvals, proposed layout plans, sometimes the titles) are normally forgery. Power attorney documents and third-party charge at their best as a method to deceive others. Please look into these and stop these practices.