CM to announce new initiative on affordable house financing in Jan

Dr Sim (seated centre) having a photo session prior to the Excellence Service Award 2019 presentation at the Sarawak Legislative Assembly.

By Adrian Lim

KUCHING, Dec 9: The state government will announce a new initiative on financing for affordable houses for those who qualified to buy them.

Minister for Local Government and Housing Datuk Seri Dr Sim Kui Hian revealed that Chief Minister Datuk Patinggi Abang Johari Tun Openg will launch the new initiative in January next year.

He explained that the new initiative will assist those who qualified to buy affordable houses to be provided with financial assistance through a financing company, Mutiara Mortgage and Credit Sdn Bhd (Mutiara Mortgage) which is a company wholly-owned by the Ministry of Local Government and Housing.

“Sometimes, they still cannot afford to get a bank loan.


“The bank does not want to loan to them.

“That’s why yesterday, Mutiara Mortgage and its board of directors had a courtesy call on the chief minister.

“The details of the financing will be announced by the chief minister in January next year,” he told reporters after the Excellence Service Award 2019 presentation at the Sarawak Legislative Assembly here today.

Dr Sim explained that Mutiara Mortgage is tasked to provide social housing, money lending activities to those who have successfully obtained approval for affordable houses but unable to secure a credit facility from the bank.

He added the state government will also build more affordable houses as part of the measures to solve the problem of squatters in Sarawak.

Those include the traditional village expansion programme and the Rumah Spektra Permata (Spektra) affordable housing programme in which one is located in Kemuyang in Sibu.

He noted that there were still approximately 4,000 squatters throughout Sarawak currently while the state government aims to have zero squatters by 2025.

Dr Sim said there were 2,500 units of affordable houses being built last year and this year.—DayakDaily