‘Cagamas SRP, banks have helped 67,000 households own first home’

KUALA LUMPUR – Cagamas SRP Bhd and participating banks in Malaysia have helped almost 67,000 Malaysian households own their first home with total loans/financings amounting to RM14.8 billion.

Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said 91% of the recipients were from the B40 segment, while 92% are below 35 years of age.

He said government-led initiatives such as Skim Rumah Pertamaku (SRP) aim to help eligible young Malaysians own their first home.

“With the launch of i-Biaya, we hope that SRP’s outreach will be further expanded to include the young and gig-economy and lower-income categories.

“It is estimated to fund approximately 25,000 loans/financings with an estimated value of RM5.9 billion to be approved in 2022,” he said at the launch of the Malaysian Housing Financing Initiative (i-Biaya) yesterday.

Meanwhile, in a statement today, Cagamas SRP said it has also presented awards to top participating banks in the scheme during the event.

It said the awards aim to recognise participating financial institutions in Malaysia that secured the largest volume of SRP loan/financing facilities over the last ten years, with the recipients selected based on the total cumulative number of SRP loans or financings approved, which Cagamas SRP has agreed to guarantee over the past ten years.

The mortgage guarantee agency said AmBank (M) Bhd, AmBank Islamic Bhd, Bank Islam Malaysia Bhd, CIMB Islamic Bank Bhd, and Maybank Islamic Bhd were chosen as the recipients of the awards, as 81% of such approved loans/financings originated from these banks.

The awards were presented by Tengku Zafrul and accompanied by Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican.

“Our sincere appreciation goes to the award recipients and we applaud them for their support in promoting homeownership among the youth segments.

“Cagamas SRP is pleased to be a part of the i-Biaya initiative by the government and is looking towards more collaborations between the public and private sectors to improve and provide more affordable homes in Malaysia,” Cagamas Bhd president/chief executive officer Datuk Chung Chee Leong said. – Bernama, April 15, 2022