MELAKA: The State Legislative Assembly today passed the motion to set up the Melaka Bumiputera Property Trust Fund.
When tabling the motion, Chief Minister Datuk Seri Ab Rauf Yusoh said that the establishment of the trust fund marked an improvement in the loan management of Dana Hartanah Bumiputera (DHB) Melaka, which involved the state government and Melaka Finance House Berhad (MFHB).
“As of Feb 29, a total of 384 individuals in Melaka have benefited from DHB loans totaling RM29.869 million issued by MFHB.
“The implementation of housing loans under the Malacca DHB was approved by the state executive council (MMKN) meeting dated Oct 23, 2019, and verified on Nov 6, 2019,” he said when tabling the motion at the Melaka State Legislative Assembly sitting at Seri Negeri here.
According to Ab Rauf (BN-Tanjung Bidara), receipts from the Bumiputera quota release levy managed by the state Land and Mines (PTG) director’s office serve as a financial source for granting DHB loans.
He said that as of March 14, RM38.243 million had been received, with RM30.814 million disbursed to MFHB, and RM482,533.66 in loan principal repayments had been made by the agency.
“One of the criteria for loan approval is that the borrower must either be a native of Melaka, a spouse born in Melaka, or a Malaysian citizen residing in the state for at least five years.
“In addition, loans are only granted for the purchase of first homes located in Melaka; borrowers in the individual or joint categories must be between 21 and 60 years old at maturity of the loan tenure.
“Individual or joint applicants must meet a minimum gross income requirement of RM2,500 per month, and the monthly installment should not exceed 60 per cent of their gross salary,” he said.
