Sarawak CM: Govt to inject RM100m to help low-income group to buy houses

Datuk Patinggi Abang Johari Openg said the injection of the RM100 million followed the move by Bank Negara Malaysia to impose conditions on buying houses, especially by foreigners. ― Bernama pic
Datuk Patinggi Abang Johari Openg said the injection of the RM100 million followed the move by Bank Negara Malaysia to impose conditions on buying houses, especially by foreigners. ― Bernama pic

KUCHING, Jan 19 — Sarawak Chief Minister Datuk Patinggi Abang Johari Openg yesterday said that the state government will be injecting RM100 million through its wholly-owned company Mutiara Mortgage and Finance Berhad (MMFB) to help low income class especially the B40 group to get loans.

“The government will inject the money through MMFB and of course the normal financial instrument agreement will be used because nothing is free, especially houses,” he said last night during the 25th anniversary of Sarawak Housing and Real Estate Developers Association (SHEDA).

He said the injection of the RM100 million followed the move by Bank Negara Malaysia (BNM) to impose conditions on buying houses, especially by foreigners.

“As you know, BNM wants to control foreigners from buying houses meant for the local people,” he said.

However he said the move affected the low-income group to purchase houses especially those who do not have the monthly salary slips.

Abang Johari said the state government wants to work with SHEDA and the housing developers on issues faced by the housing industry.

“I wish that I am able to find solutions to the issues faced by the housing industry and the real estate,” he added.

Meanwhile SHEDA president Christopher Ngui Siew Ling hoped that the state government will consider introducing a scheme similar to the MyDeposit Scheme set up by the federal government for down payment to buy houses.

He said if the state government decides to introduce such a scheme, it would give Sarawakians a choice of diverse housing range in different localities and at the same time, ease the burden of buyers having to fork out the initial down payment.

“Such a scheme would have an immediate and positive impact to the local housing market by dedicating an allocation for at least 3,000 units annually for the next two to three years for first time home buyers in Sarawak,” Ngui said.

He said SHEDA is also concerned about the success of Malaysia My Second Home (MM2H) in Sarawak due to its policy and guidelines as its not favourable as compared to Peninsular Malaysia.

“SHEDA is keen to collaborate with the state tourism and housing ministries to streamline the state’s policy and guidelines to be at least on par with Peninsular Malaysia in order to be competitive,” he said.