MyHome Scheme Fails to Meet Full Objective — Audit Report
The implementation of the Private Affordable Ownership Housing Scheme (MyHome) did not achieve its full objective despite being managed efficiently.
The Auditor-General’s Report 2018 Series 2 said, however, from the monitoring aspect, the scheme was poorly managed that resulted in delays in project completion, incentive payments to dubious developers and incentives to buyers which were still not returned by the developers.
Those were among the findings during the audit that was carried out between March and July this year.
It also disclosed that no annual target was set to reach 10,000 homes under the scheme by 2020 and as of Dec 31, 2018, a total of 2,458 homes (34.3 per cent) were completed, while 4,715 homes (65.7 per cent) were still under construction.
To rectify the issues, the National Audit Department (NAD) recommended that NHD re-evaluate developers selection criteria or terms and incentives to increase their participation in the scheme nationwide to help the target group owns houses.
It also recommended NHD to work together with developers to undertake effective promotional campaigns for unsold houses.
It said NHD should lodge a police report against the developer of Taman Khazanah Indah (Special Project) in Lahad Datu for falsifying the sales and purchase agreement documents for the purpose to claim incentive payments from the government.
NAD recommended stern action against the Taman Khazanah Indah developer by enforcing relevant laws and regulations for NHD to recover RM2.5 million that had been paid as incentives to the company.
Under the scheme, which was announced in October 2013, the government allocated RM300 million for the period between 2014 and 20202 to encourage private developers to build more affordable homes and provide incentives for first time home buyers.