MHO Urges AGC Review of Alleged Guaranteed Rental Return Scheme Affecting 69 Buyers
PUTRAJAYA: The Malaysian International Humanitarian Organisation (MHO) has called on the Attorney General’s Chambers (AGC) to review complaints involving a guaranteed rental return (GRR) investment scheme that allegedly caused financial losses to dozens of property buyers.
MHO secretary-general Hishamuddin Hashim said the organisation is representing 69 individuals who claim to have been adversely affected after participating in the programme offered in connection with a local property development project.
According to him, the affected buyers have lodged reports with several authorities, including the Royal Malaysia Police, Bank Negara Malaysia and the Companies Commission of Malaysia.
He said MHO has submitted a representation to the AGC requesting a review of the matter and urging the relevant agencies to complete their investigations.
“We hope the Attorney General will examine the issues raised and consider appropriate action based on the findings of the authorities involved,” he said.
Hishamuddin noted that if evidence of regulatory breaches or non-compliance is established, the matter should proceed through the appropriate legal channels to ensure justice for those affected.
He explained that complaints concerning the scheme were first brought to MHO’s attention in the middle of last year.
The complainants are reportedly owners of 69 property units with a combined value exceeding RM43 million.
According to MHO, the dispute does not centre solely on the purchase of the properties themselves but rather on an accompanying guaranteed rental return package promoted alongside the development.
Many purchasers, he said, were attracted by promises of fixed rental returns and investment benefits associated with the scheme.
“The primary attraction was not merely home ownership but the guaranteed rental return package that accompanied the purchase,” he said.
He further claimed that buyers later discovered they had limited control over the units despite continuing to bear monthly financing commitments.
Under the arrangements described by complainants, owners allegedly remained responsible for loan repayments while having restricted access to the properties and limited involvement in rental management.
MHO believes the matter warrants close scrutiny to safeguard consumer interests and ensure accountability if any promises or contractual obligations were not fulfilled.
The organisation maintains that affected purchasers should not be left to bear substantial financial burdens if the benefits promoted under the scheme were ultimately not delivered as represented.
