A great post on Penang Malaysia.
Proposal on affordable homes for B40 submitted to government – Vincent Tan
The Better Malaysia Foundation (BMF) submitted its proposal to the government earlier this month on affordable homes for low-income earners in Malaysia, namely those from the B40 group.
BMF founder Tan Sri Vincent Tan told a press conference here today that the government was studying the proposal.
“(The proposal) was sent to the government. So I leave it to the government,” he said, although he declined to say who or which ministry in the government the proposal was submitted to.
Tan also said he was positive about the government accepting BMF’s proposal, although he was aware that there are a lot of technical matters that need to be sorted out.
He said the proposal, among others, included recommendations for the government to guarantee loans (for the B40 to own houses), 100 percent financing as well as longer tenure of up to 60 years for the housing loans.
If banks agree to provide loans to the B40, a lot of housing developers will build affordable homes and that will be good for the country, Tan said.
Before the press conference, media representatives were given the opportunity to tour the show unit of 900 square feet five-bedroom, four-bathroom houses designed by the BMF for the B40 group.
The BMF recently launched a new social enterprise programme to assist the government in addressing home ownership aspirations of low-income Malaysians or the B40 households.
The social enterprise would facilitate the construction of properties with a low monthly cost of ownership, carefully designed for families to grow and prosper.
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