KEYNOTE SPEECH BY THE GUEST OF HONOUR Y.A.B DATUK SERI PANGLIMA MUSA HAJI AMAN, CHIEF MINISTER OF SABAH, AT THE OPENING OF THE SHAREDA PROPEXT 2010, SABAH TRADE CENTRE, KOTA KINABALU

28 AUGUST 2010

It gives me great pleasure to be here and thank you for this invitation to officiate another round of a property exhibition that offers potential buyers a variety of choices. I must congratulate the Sabah Housing and Real Estate Developers Association or SHAREDA under its president Datuk Susan Wong Siew Guen and the Organising Chairman and Deputy President Datuk Robin Loh, for the hard work in staging this event every year.

I am pleased to note that you have sold all your booths to members and supporting businesses. This is an indication on the level of credibility that SHAREDA and PROPEX have built over the years. As a body that represents real estate and housing developers, SHAREDA is doing its part to further promote the growth of this sector which complements overall development in Sabah. . In connection, I am happy to note that SHAREDA was recently awarded the Role Model Award by the Registrar of Societies. This recognition signifies that SHAREDA is an organisation of integrity.

The Sabah State Government is always concerned about issues raised by property developers. One grievance of the sector is the slow approval of Development Plans which can take up to two years. As announced recently, the State Government will come up with a refined guideline to speed up the approval of Development plans to as short as two weeks. The Ministry of Local Government and Housing has been directed to look into this, and is expected to come up with new measures that will be recommended to the Cabinet. This is also in line with our pledge to improve efficiency in the public sector as expected by the people.

The State Government is also aware of the concern of the public, among them the quantum of land premium to be charged for renewal of expired land leases for properties owned and issues concerning 999-year lease. The government is appreciative of the views and suggestions made by SHAREDA to bring about a vibrant and competitive business environment. In fact, we have been quite accommodating to recommendations made by SHAREDA over the years in efforts to improve the real estate and property development sectors. As a fair and responsible Government, we will continue to look at suggestions made by SHAREDA and issues facing the property sector.

Having said this, I must also call on SHAREDA members and the property sector in general to continue delivering quality homes and buildings to its customers. Those who are involved in developing real estate must not disappoint buyers who only expect the best quality when they move in, more so for some who invest their entire savings to finally purchase the property of their dreams. I hope more effort will also be made by developers to come up with new and modern designs, and to factor in the growing green trend for buildings that use less energy and conserve more water. By coming up with new ideas, the real estate sector will be able to stay ahead and lure customers, including those who come to Sabah under the Malaysia My Second Home programme.

Sabah is continuing to grow and is getting the support it needs from the Federal Government to boost development, including for a wide range of infrastructure. The Sabah Development Corridor blueprint is on track and major projects such as palm oil industrial clusters in Lahad Datu and Sandakan are also been well-supported. We have experienced much improvement in our road network, water and power supply and port infrastructure. As a result of cordial state-federal relations, we can expect to see more improvements and fresh development to narrow the development gap between Sabah and peninsula Malaysia.

There are a number of initiatives that the Government is carrying out at present, including the Government Transformation Programme and National Key Result Areas. The Government under the leadership of Prime Minister, YAB Dato Seri Najib Tun Razak, aims to raise our competitiveness, productivity and income. These programmes will benefit all Malaysians, and I hope SHAREDA members will subscribe to these initiatives, fully understanding and embracing them. Real estate developers are key players in the economy. What you do, and what you support have significant impact not only in our economy, but the society at large.

I wish SHAREDA all the best in its future undertakings, and on that note, I hereby declare SHAREDA PROPEX 2010 officially open.

Thank you.