Govt receives submissions on greentech incentives review

Govt receives submissions on greentech incentives review
KUALA LUMPUR: Professional bodies have made submissions to the government on the review of existing incentives to encourage construction of buildings using green technology.

Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili said his ministry was talking to the Finance Ministry on the matter.
"The government has announced incentives in the form of tax exemptions and stamp duty waivers for owners of buildings with Green Building Index (GBI) certificates and buyers of GBI-certified properties," he told a media briefing.

Meanwhile, Malaysian Institute of Architects' President Chan Seong Aun said they have asked for the incentives, which will lapse in mid-2014, to be extended until 2020.
"We're asking for an extension as many of the buildings for which applications have been made for GBI certification are still under construction," he told the same media briefing.

Maximus said that over 60 million square feet of green buildings were GBI-certified this month.

He said the GBI, a national rating tool developed by Malaysia's experts comprising architects, engineers, academics and stakeholders of the construction industry, was firmly benchmarked to international standards.

"The GBI is much admired by countries in the region," he added.