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Tuesday, October 31, 2017

Malaysia Bar now owner of Wisma Straits Trading

George-Varughese-wisma

PETALING JAYA: The Malaysian Bar is now the proud owner of Wisma Straits Trading on Leboh Pasar Besar, a short distance from the current Bar Council premises.
Bar president George Varughese said the premises, with floor space of about 100,000 square feet, was acquired from the previous owner for RM55 million.
“The sale and purchase agreement was completed on 20 Oct 2017 and the handover took place on Oct 26,” he said.
Varughese said the search for a new building had begun in 2006.
He said the purchase of the building had been made possible as a result of a resolution of the Malaysian Bar, adopted at its annual general meeting on March 14, 2015, which increased the levy for the building fund from RM100 to RM250 per year.
This had taken into effect from Jan 1, 2015 and will remain for the next 15 years.
The Malaysian Bar membership stood at about 20,000 on Feb 13 this year and the numbers will increase as more join the legal profession.
Varughese said at present rented premises were being used to house the Kuala Lumpur Bar Committee , Advocates and Solicitors Disciplinary Board, Bar Council Legal Aid Centre (Kuala Lumpur) and Bar Council Risk Management and Professional Indemnity Insurance Department.
“Moving forward, we are working towards accommodating the Bar Council secretariat, along with all the above-mentioned entities and departments, under one roof in Wisma Straits Trading next year.”
He said additional space would be let out to tenants to generate revenue for the Malaysian Bar.
Varughese thanked members, and past and current Bar Council office bearers involved in the process of identifying and acquiring the current premises. -FMT

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