Our directors, who are registered valuers with the Board of Valuers, Appraisers, Estate Agents and Property Managers Malaysia, conducted this property valuation workshop for all our valuers and senior personnel on last Friday and Saturday, 9 and 10 March 2018 at the Palm Garden Hotel, IOI Resort City in Putrajaya.
The programme of the workshop was carefully drawn up to give our valuers a better understanding of the principles and practice of the valuation profession, which requires its practitioners to possess high level of skills, knowledge and experience in the subject.
As always, the workshop was designed to be intense covering a total of 7 topics with lots of case studies and assignments. Mr. Chen King Hoaw started of by dwelling into the fundamentals of property valuation, and this was followed by a detail sharing on the various methods of valuation by Mr. Ooi Choon Seong.
The presentations by Mr. Tan Kim Seng on the practical insights into property valuation and Mr. Pang Hsueh Sheng on valuation report and workings are most relevant to our day-to-day job as valuers. Through these topics, they aptly highlighted all the standards as prescribed in the Malaysian Valuation Standards, published by the Board of Valuers, Appraisers, Estate Agents and Property Managers Malaysia.
Interestingly, the whole of our second day was devoted solely to valuation for compulsory acquisition - one of LandServe's core areas. Mr. Chen pointed out all the relevant sections of the Land Acquisition Act 1960 as well as provisions in its First Schedule and Third Schedule, which are most relevant to our tasks in claiming for fair compensations from the Authority on behalf of dispossessed landowners, tenants and other persons interested.
In sharing their views and experience as valuers and assessors, both Mr. Tan Kim Seng and Mr. Wee Soon Chit gave a checklist on what needs to be done and a step-by-step account on how to prepare good valuation and rebuttal reports for the best possible outcome for our clients, using real-life case studies at the land offices and High Courts as examples.
Over the years, LandServe has valued numerous types of properties affected by compulsory acquisitions of lands for highways, roads, drains, rivers, water dams, oxidation ponds, Light Rail Transit (LRT), Mass Rapid Transit (MRT I and MRT II), refineries and other public purposes. Here is the list of compulsory acquisition projects which LandServe has involved in over the years: http://landserve.com.my/valuation-for-compulsory-acquisition.
This workshop has been successful in promoting simultaneous learning by all our valuers through sharing of indepth knowledge and experience. The entire session turned out to be fulfilling, not forgetting the great food and time spent together till the late evening. To get a glimpse of the event, check out our photo gallery on our Facebook page: https:www.facebook.com/landserve/
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