Date : 27 February 2003

TO : ALL REGISTERED VALUERS, APPRAISERS AND PROBATIONARY VALUERS

Dear Sir/Madam

Scales of Fees

It has come to the notice of the Board that certain Banks, Financial Institutions and other bodies involved in disbursing housing loans have requested for valuation fees and valuations that are inconsistent with the Seventh Schedule and the Malaysian Valuation Standards.

The Board has worked very hard in the past few years to ensure full compliance with the Seventh Schedule and the revised Malaysian Valuation Standards and all this is in the interest of ensuring a high standard of valuation practice in the country. Thus we cannot now allow a few Valuers, in pursuit of their own interest to accede to requests by Banks, Financial Institutions and other bodies and agree to fees that are below the Scale of Fees as per the Seventh Schedule and/or at the same time agree to compromise on reporting standards as per the Malaysian Valuation Standards.

All registered valuers and appraisers are hereby requested to refer to the Board any request for valuation fees inconsistent with the Seventh Schedule and/or requests for valuation reports inconsistent with the Malaysian Valuation Standards.

Yours faithfully

LEMBAGA PENILAI, PENTAKSIR DAN EJEN HARTATANAH MALAYSIA
R.MAHALETCHUMI

Registrar