PENAMPANG: Sabah Progressive Party (SAPP) on Tuesday reiterated its pledge to reinstate the "999-year” land lease to private landowners as stated in its Land Reform Policy if it forms the new State Government after the 13th General Election.
Its President, Datuk Seri Yong Teck Lee, said this is achievable because he had accomplished this during his tenure as Chief Minister, where he granted it to more than 400 houseowners in Taman Seputeh, Luyang.
"There's no need to amend the laws. The Chief Minister has the power to do so," he said, adding that the State Government has nothing to lose by issuing the landowners with such title.
"ln fact, it could generate more revenue through the collection of land revenue. Under the 99-year land lease, the property owners would always be at the losing end.
"Ninety nine years is too short for property owners to fully develop and utilise their property. The bank may not accept it for mortgage or refinancing," he said.
Insurance firms might not even want to insure it, especially when the land lease has only 20 years to go, which is a common dilemma facing manly landowners in the State now.
He likened the present government's decision to reduce the land lease for private and commercial lands from 999 years to 99 years, last year, as another form of land grab.
