11 July 2019: PTPTN loaners can buy first home; UEM Group to retrench over 200 workers

PTPTN loan defaulters listed in CCRIS can now buy first home
National Higher Education Fund Corporation (PTPTN) borrowers listed in the Central Credit Reference Information System (CCRIS) will be able to buy their first house, said Housing and Local Government Minister Zuraida Kamaruddin. She said the initiative would allow young people to have their own home and it involves the purchase of all types of housing and not just under her ministry. The initiative will be launched with another scheme for youth housing on October 18 in collaboration with the Ministry of Youth and Sports. Meanwhile, Zuraida said 30% of the 10,000 units of affordable houses to be developed in Bandar Malaysia will be allocated to youths. (Malay Mail)

Developers’ group wants property market open to more foreigners as glut persists
Malaysia must encourage more foreign buyers of local real estate to resolve the issue of unsold units in the country, the Malaysian chapter of the International Real Estate Federation (FIABCI) said. FIABCI Malaysia president Michael Geh said foreigners now own less than 3% of Malaysian real estate. “3% is still relatively low so we can increase foreign owners of Malaysian properties to 5%,” he said, adding that this was not an invitation for foreigners to speculate on local real estate.,Instead, he said foreign buyers who are keen to reside, work or let their children study in Malaysia should be welcome to invest in local property market. Malaysia currently limits foreigners to purchasing property retailing for RM1 million or more. (Malay Mail)

Jamal Yunos to auction off Sekinchan resort
A resort belonging to Sungai Besar Umno division chief Datuk Seri Jamal Md Yunos will soon be put up for auction. The Sekin Fisherman Village Hotel and Resort is set to be auctioned off at a starting price of RM4.5 million. An advertisement informing of the auction was posted on social media today. According to Jamal the auction would take place on July 15. On Dec 2016, the 100-room resort made headlines when the Sabak Bernam District Council (MDSB) seized the property and demolished several structures within the resort. Jamal later filed a suit against the Selangor government and two others for seizing and demolishing the resort’s structures. The Kuala Lumpur Sessions Court dismissed his application and stated that MDSB’s action in seizing the resort which was built on land owned by the Water and Irrigation Department was legal. (NST Online)

Source: SetiakawanMalaysia

UEM Group to retrench more than 200 employees
In an effort to cut expenses, UEM Group Bhd is looking to pare down its staffing to about 80 members, which means letting go about 220 workers. The Malaysian Reserve cited a source close to the development saying “The group plans to offer mutual separation scheme (MSS) packages to the employees by November 2019… However, Yayasan UEM will not be affected.” The engineering firm established in 1966 is seeking to restructure its operations in line with the sole shareholder’s “new business ethics”. (The Edge)

Selangor’s mobile parking app now covers KL
Motorists in Kuala Lumpur can now make parking payments via the Smart Selangor Parking (SSP) mobile app, which allows motorists to pay for street parking via their smartphones. The integrated parking system is already being used by seven local councils in Selangor since it was introduced in July 1 last year. Kuala Lumpur City Hall (DBKL) is now on board and already integrated in the smart parking app, making it more convenient for users. Motorists can also use the app to pay for “off-street parking”, which involves private parking lots. Currently, the SSP app can be used at Paramount and Asia Jaya LRT, Kelana Jaya stadium and Atria hawker stalls parking lots. (The Star Online)

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