PETALING JAYA: The Cabinet wants the Urban Wellbeing, Housing and Local Government Ministry to review and improve a current policy that allows housing developers to give loans to buyers.
Its minister, Tan Sri Noh Omar, said several companies have been given moneylending licences to provide loans to help house buyers with their deposit payments.
He said the Cabinet asked the ministry to review the policy in terms of its effectiveness in helping the public purchase houses, interest rates and repayment period, as well as proper guidelines for both developers and borrowers.
“The financing will be done as provided under the Moneylenders Act 1951 (Amendment 2011), which is under the purview of my ministry. SEE ON
... Tawau Wildlife Department staff attempting to free a pygmy elephant from a mud pit near Berkat Saga logging camp in Rinukut, Sabah, on Saturday. Five of nine elephants trapped in the pit died before aid arrived.