PEPS Stand On Auction Cases
PEPS is of the opinion that in our valuation for auction purposes, we should be guided by Section 263 of the National Land Code whereby it defines reserve price as “a price equal to the market value of land” and hence, valuers should not adopt settled (concluded) auction prices in auction cases to value properties for foreclosure purposes.

PEPS Action On Verbal Valuation
PEPS is taking positive steps to address this issue, including writing and seeking a dialogue with a leading local bank to resolve the widespread practice of verbal valuation.

PEPS had initiated a meeting with the Board of Valuers, ISM and the Universities on 13th July 2007 to deliberate on appropriate response and joint actions to be taken with regards to property management. The Associations together with the Universities will be taking some positive steps to address this issue.

Please obtain the Application Form for Membership from Membership and Guidelines and submit it with a copy of the Certificate issued by the Board of Valuers, Appraisers & Estate Agents Malaysia with a fee of RM200-00 (RM100-00 for Entrance Fee and RM100-00 for 2008 Annual Subscription). Kindly include 50 cents for outstation cheque.

PEPS has a Memorandum of Understanding with Etiqa Insurance Berhad (previous known as MNI) to provide Group Professional Indemnity Insurance coverage for Valuers. With a bigger group, PEPS’ hope to bring down the cost of insurance for the benefit of the valuation fraternity. For more information, please contact the Secretariat.

PEPS is in the process of reviewing its Constitution & Bye-laws. No additional information is available at this moment.

No report.

No report.

PEPS’ Treasure Hunt from Kuala Lumpur to Cameron Highlands was held on 21st – 22nd July 2007. For the Report on the Treasure Hunt, please refer to Publications - PEPS News – Issue No. 2.