Capital Contribution Calculation Revised to Developers' Benefit
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SHAREDA and SESB organised a joint afternoon talk session titled "SESB Latest Transparent & Fixed Rate (CCC) at Dewan SESB this afternoon.
SESB is always in discussion with the Government to improve the procedure of CCC to existing users, therefore, the Government has agreed to approve the proposed revision of the rate of contribution charges imposed on property developers in Sabah and Labuan as of 1st April 2017.
The newly revised CCC is now seen as fair, orderly and more transparent as compared to the previous charge, thus creating a win-win situation for all parties involved.
In addition to this, the new CCC is now based on a fixed price. Previously, the CCC is calculated by the cost of the project, materials used etc.
Speaking at a press conference this afternoon, Senior General Manager of SESB, Ir. Mohd Yaakob bin Jaafar said: "We hope that with this new calculation, it'll help both SESB and SHAREDA (along with other developers) to develop Sabah further".
In this session, more than 150 participants consisting of representatives of the developer, consultants and interested parties were present to receive this news.