Loan scheme for M40, B40 groups targeted for August rollout

PUTRAJAYA (July 3): The government aims to roll out a loan scheme aimed at the M40 and B40 income group, said Housing and Local Government Minister (KPKT) Zuraida Kamaruddin.

She said KPKT has met with several agencies such as Bank Negara Malaysia, bankers and the Employees’ Provident Fund to discuss rolling out a loan package for the M40 and B40 income level group as she addressed NAPIC's quarterly report update for 1Q18 which revealed some RM22 billion worth of unsold properties on the market. 

"Factors such as unfavourable location, high cost and loan factor contributed to the unsold properties. We are still in the early stages of discussion with Bank Negara to draw out the guidelines for a more relaxed loan scheme and although in the early stages, we hope to roll out the scheme by August this year," she told reporters at a weekly press conference at the KPKT office here today.

Meanwhile, the ministry has managed to contact 111 owners of the collapsed Highland Towers from the total 138 and urges anyone who has information on the remaining 27 owners to come forward. 

"KPKT secretary-general Datuk Mohammad Mentek has had a meeting with Jabatan Insolvensi Malaysia and given them a deadline of July 16 for them to get back to us on the name of the remaining 27 owners.

“We have also identified the developer of Highland Towers which is Regal Field Development Sdn Bhd and they feel happy that they can finally move forward and have even presented several suggestions on the redevelopment of the site.

“As you know, we can only proceed with the redevelopment subjected to the approval of all the 138 owners, so we urge anyone who has information on the remaining 27 owners to come forward.

“The 111 owners have agreed to the redevelopment as they have received full compensation from the collapse," she said.

Another crucial point she raised was that KPKT is looking to enforce the requirement that there needs to be at least 30% of women present in all the local councils in line with international guidelines such as the United Nations Sustainable Development Goals. 

"Local councils are made of 24 councillors, which means that there must be at least seven women in each council. Women's views are complementary to the development of the nation and we want to adhere to the world standards as well. We are also looking tor strengthen the voice and role of the younger generation and for each local council zone, we also want a Penggerak Belia Tempatan to exist," she added.

To date, only Selangor has a Penggerak Belia Tempatan and has the highest rate of women in the local councils at an average of 22%. The nationwide average is 14%. 

The press conference today also saw three companies presenting cheques to Tabung Harapan Negara – sandalwood plantation company The Green Venture (RM 1 million), property developer Adenland Group of Companies (RM100,000) and steel specialists company Intergreen Metals Sdn Bhd (RM100,000).