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Malaysia Blacklisted 109 Property Developers

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Malaysia’s Ministry of Housing and Local Government (KPKT) has blacklisted 109 property developers for regulatory non-compliance, including failures to submit financial audits, progress reports, and balance sheets. The move, announced on April 7, 2025, by Minister Nga Kor Ming, underscores a tightening regulatory environment aimed at protecting homebuyers and stabilising the housing market.

Fines and Penalties

  • RM9.03 million in fines were issued in 2024 for 471 violations 

  • RM1.25 million in fines were levied in the first two months of 2025 alone

  • Blacklisted developers are barred from applying for new licenses until fines are settled, and their directors face restrictions to prevent re-establishment under new entities

List of the Property Developers with Violations

Top 10 Property Developers
BUDI SAJA SDN. BHD.
PR1MA CORPORATION MALAYSIA
KOTAMAS DEVELOPMENT (M) SDN. BHD.
RISING SUN ENTITY SDN. BHD.
SENTORIA HARTA SDN. BHD.
AQRS THE BUILDING COMPANY SDN. BHD.
SYARIKAT PERUMAHAN NEGARA BERHAD
SPNB ASPIRASI SDN. BHD.
MSO CORPORATION SDN. BHD.
SPNB IDAMAN SDN. BHD.

Get access to Malaysia’s 2025 developer blacklist

 

Why This Matters for Singaporean Investors

  1. Cross-Border Investment Risks: Many Singaporean professionals and investors hold property interests in Malaysia, particularly in Johor and Kuala Lumpur. The blacklist highlights the importance of due diligence—developers with opaque financial practices or delayed projects could jeopardize returns

  2. Regulatory Trends: Malaysia’s crackdown mirrors Singapore’s emphasis on housing accountability (e.g., cooling measures, ABSD hikes). Investors should anticipate stricter regional enforcement of housing regulations 

  3. Market Opportunities: The blacklist may weed out unreliable players, creating opportunities to invest in compliant developers. Meanwhile, Malaysia’s Task Force on Sick Projects has revived 89 stalled developments worth RM6.48 billion in early 2025, signaling potential in distressed assets 

21 projek PR1MA `sakit', pembeli tunggu 5 tahun - Utusan Malaysia

Actionable Insights

  • Verify Developers: Use KPKT’s official portal (teduh.kpkt.gov.my) to check licensing status before investing

  • Focus on Compliance: Prioritise developers with transparent audit trails and timely project delivery.

  • Monitor Regional Policies: Malaysia’s actions reflect a broader Southeast Asian push for housing market stability—align portfolios with regulatory shifts

Updated) Blacklisted property developers in Malaysia - iproperty.com.my

The Blacklisted Developers

While the ministry has not publicly released the full list, Minister Nga confirmed the details are accessible on the KPKT website. The violations predominantly involve financial reporting failures, suggesting systemic governance gaps.

For High Earners
For Singapore’s affluent investors, this crackdown is a double-edged sword:

  • Short-term Caution: Existing investments in blacklisted developers may face delays or defaults.

  • Long-term Stability: A regulated market reduces systemic risks, enhancing Malaysia’s appeal for sustainable investments.

Malaysia’s housing ministry is drawing a hard line on accountability—a lesson for investors prioritizing cross-border opportunities. As regional markets tighten compliance, proactive due diligence and adaptability will define success.

Read also about legal dispute from Singaporeans caught in Malaysia’s Private Lease Scheme

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