Syarikat Perumahan Negara
All 3 names
Syarikat Perumahan Negara Bhd (SPNB), SPNB, Syarikat Perumahan Negara BerhadHow their buildings read
2 poor
Outcomes still vary building by building. Check the building, not the brochure.
What we found
An arbitrator ordered SPNB Aspirasi to pay contractor Tunas Manja RM26.88 million over a 469-unit Kuantan housing project. Because it did not pay, the Kuala Lumpur High Court made the award enforceable as a judgment in July 2022, rejected SPNB Aspirasi's challenge on 27 Jan 2023, and Tunas Manja then filed a petition to wind the company up.
The evidence
Delivery
NegativeBy SPNB's own figure, it has rehabilitated and completed 36 abandoned projects nationwide since 2003, totalling 14,786 homes.
3 more findings
SPNB recovered and completed, with certificates of fitness, 23 abandoned housing projects as of 31 March 2004, including Taman Seri Bayu in Seremban, which a private developer had abandoned in 1997.
SPNB revived its first abandoned housing project in Sarawak, a 426-unit scheme that stopped in 2003 when the previous developer mismanaged its finances.
SPNB took over Taman Seri Molek Perdana Apartments in Johor, a previously abandoned project, and assured buyers in October 2022 completion would occur the following year, though buyers reported the project had stalled for over 10 years.
Regulatory and legal
NegativeSPNB's wholly owned subsidiary SPNB Aspirasi Sdn Bhd sued its former chief executive and five others, alleging it was defrauded over a serviced apartment project in Hulu Langat, Selangor, and separately sued other parties alleging it was defrauded over an affordable housing project in Kuantan, Pahang.
One more finding
The Auditor-General's Report 2017 (Series 2) found that RM279.2 million in government subsidy meant for 13,960 Rumah Mesra Rakyat 1Malaysia houses was used for other purposes without Ministry of Finance approval, and that the number of houses built was below target.
Corporate continuity
NegativeThe winding-up petition against SPNB Aspirasi could put completion of thousands of its apartments at risk, including the 2,000-unit Aspire Residence. KPKT and the Ministry of Finance did not answer questions.
3 more findings
SPNB was appointed in 2001 as implementation agent for rehabilitation of abandoned projects by KPKT, and by 2012 had successfully rehabilitated 14,951 units of abandoned houses across the nation.
SPNB agreed to restructure its government loan, in the Finance Ministry's response to findings on its poor loan collection in the Auditor-General's Report Series 2/2026.
SPNB was the original developer of Taman Seri Molek Perdana. It sold the project in 2015 to a private developer, Cosmic Master Development Sdn Bhd, and control later moved to a subcontractor. Buyers said the project had been stalled for more than 10 years and threatened legal action against both the developer and SPNB.
