其次,现行法律对马来人自然保留地酒吧业主签订任何协议,如出售和转让,租赁或充电的非马来人,这种土地显然要"保护"的土地。然而,这种限制不以任何方式保护或通过一国采集方便机械维护马来人自然保留地的枯竭。在雪兰莪州,9000 公顷的马来人保留被"丢失"通过根据 1960 年土地收购法的强制性收购。联邦宪法 》要求国家当局,以取代马来人保留通过强制性收购带走每英亩,虽只有三分之一的 9000 公顷已被取代,他们未能遵守宪法职责。
4.2 Consequences from the Statutory Restriction
The Malay Reservation Enactment intended to protect the Malay from losing their ancestral lands to non-Malays, but worked against economics welfare. Although the Act proposed certain areas to be reserved for Malay ownership only and prohibited to transfer to non-Malay, the Act indirectly aggravated the problem of credit apply for Malay peasants because it depressed the value of the Malay land since it was not acceptable as collateral by non-Malays. [1]
The legal restriction imposed on property and the land ownership is the major factor that has reduced the financing potential and the marketability of these areas. It is because the land designated as a part of a Malay Reservation could only be sold to Malay.
According to the general principle of economics, the market for a property or a piece of land is constituted by "demand" and "supply". And, the price over a piece of land will increase dramatically when the demand is increasing. As an example, the land in Kuala Lumpur is much more expensive than the land in Perlis, the land in the town and city is more costly than the land in village. The price is generally controlled by the demand of the public.
The restriction imposed on Malay Reservation is described as a "lock" to close the market of Malay property. The market of Malay reserved land become smaller and the price of land become inferior when compared to other land in the same area.
As a practical example, Kampong Baru which located at the central of Kuala Lumpur, the size of Kampong Baru is 125ha, and based on the valuation done on 55ha site in March 2007, its land was valued at between RM270 and RM350 per square feet for housing and RM500 to Rm600 per square feet commercial lots. In the meanwhile, the lands located around the Kampong Baru, which are not categorized as Malay reservation, are far more valuable as compared to Kampong Baru. According to news report, the land parcel located between Grand Millennium KL Hotel and the Pavilion KL mall would be acquired for approximately RM 7209.80 per square feet. [2] The exaggerating contrast shows the different destiny over the same land.
Besides, according to Datuk Abdul Rahim Rahman, executive chairman of Rahim & Co Chartered Surveyors Sdn Bhd, the land and property value of Kampong Baru may go up by 100% or more with the redevelopment. [3] The land value is forecast to grow between RM1000 and Rm4000 per square feet post development.
Obviously, the prohibition against dealing has rendered the economic value of their properties suddenly depreciated when compared with the other freehold properties in the same area.
4.2.2 Restricted Access to Credit
The Malay reservation's owners have restricted access to credit, where there is only partial of the banks can take Malay Reservations as security. Only a limited number of agencies such as Bank Bumiputra (a wholly government owned bank) and the Agricultural Bank, could hold Malay Reservation as collateral for loans. The situation has not getting better after the list of bank has been increased. Some of the banks with capaci