MHub part­ners NewParadig­m Cap­i­tal Mar­kets to boost home­buy­ing af­ford­abil­ity among lower-in­come Malaysians

The Borneo Post (Sabah) - - Business -

KUALA LUMPUR: MHub, an end-to-end prop­erty mar­ket­place plat­form, yes­ter­day inked a col­lab­o­ra­tive agree­ment with cor­po­rate fi­nance ad­vi­sory firm NewParadig­m Cap­i­tal Mar­kets to specif­i­cally as­sist B40 or low­er­in­come groups to pro­cure homes.

MHub is a wholly-own unit of TRB Ven­tures Sdn Bhd.

The sign­ing cer­e­mony was held in MHub’s head­quar­ters in Glen­marie, Shah Alam.

Per­badanan PRIMA Malaysia (PR1MA), the largest de­vel­oper of af­ford­able hous­ing in the coun­try, as well as other key part­ners were also present at the cer­e­mony.

The agree­ment is also in step with MHub’s com­mit­ment to en­abling home buy­ers to use its in­tel­li­gent match­ing plat­form to guide them on the best ways of procur­ing funds to pur­chase their de­sired prop­er­ties.

TRB Ven­tures Chief Ex­ec­u­tive Of­fi­cer Quek Wee Siong said the agree­ment signed yes­ter­day would go a long way to ad­dress the is­sue of fi­nanc­ing woes faced by more than 50 per cent of would-be home buy­ers due to poor credit scores and ig­no­rance of op­tions avail­able to them.

“We are con­fi­dent that MHub’s col­lab­o­ra­tion with NewParadig­m Cap­i­tal Mar­kets could help at least 40 to 50 per cent of re­jected home­buy­ers over­come the hur­dle of se­cur­ing fund­ing by util­is­ing our in­tel­li­gent data-driven plat­form,” he added.

“We are also aware of the acute prop­erty over­hang in the mar­ket worth more than RM30 bil­lion. This is a tremen­dous bur­den to the gov­ern­ment and other stake­hold­ers and thus we be­lieve our in­tel­li­gent datadriven so­lu­tions can solve some of these pain points,” Quek said adding the gov­ern­ment has also com­mit­ted to build­ing one mil­lion af­ford­able homes by 2030.

Last year, MHub, as the fastest grow­ing proptech plat­form in Malaysia, cap­tured 28,000 book­ings and trans­acted more than 14,000 sales of new prop­erty launches rep­re­sent­ing 26 per cent of all new launches in the coun­try. NewParadig­m Cap­i­tal Mar­kets has a unique solution to help home buy­ers ob­tain fi­nanc­ing be­yond just banks. It will cre­ate spe­cial Rent To Own (RTO) Schemes to help buy­ers who do not qual­ify for con­ven­tional loans.

It has ad­vised and sup­ported some top prop­erty de­vel­op­ers to raise funds. One of its most re­cent ef­forts was the suc­cess­ful launch of a RM3 bil­lion sukuk fund.

To sup­port its ecosys­tem, MHub will also col­lab­o­rate with Caga­mas SRP Bhd to as­sist first time home buy­ers to ob­tain up to 110 per cent fi­nanc­ing to pur­chase their first home.

MHub co-founder and chief ex­pe­ri­ence of­fi­cer Ja­son Ding, Quek, NewParadig­m Cap­i­tal Mar­kets manag­ing di­rec­tor Cha­ran­jeev Singh and NewParadig­m Cap­i­tal Mar­kets ex­ec­u­tive di­rec­tor Danny Kwan dur­ing the col­lab­o­ra­tion agree­ment sign­ing yes­ter­day.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.