EPF to channel RM1.5bil to fund FT special housing scheme
http://thestar.com.my/news/story.asp?file=/2012/1/31/nation/10570022&sec=nation
KUALA LUMPUR: The Employees Provident Fund (EPF) will channel RM1.5bil to the Federal Territories Foundation as part of a special funding scheme to help eligible buyers purchase public housing units in the city.
Fomca: Don’t use EPF money for public housing loans
http://thestar.com.my/news/story.asp?file=/2012/2/2/nation/10613603&sec=nation
KUALA LUMPUR: The Government should not use Employees Provident Fund (EPF) savings to fund loans for the purchase of public housing projects, said Fomca.
Its secretary-general Muhammad Sha’ani Abdullah said such loans for the low-income group would not make money for EPF and the risk of payment default would be high.
“The funds must come directly from the Government and those who qualify should pay rental for their units and subsequently, have this converted to ownership,” he said.
EPF loan is to Govt, not individual house buyers
http://thestar.com.my/news/story.asp?file=/2012/2/8/nation/20120208132602&sec=nation
KUALA LUMPUR: The special scheme for the purchase of People’s Housing Programme-National Economic Action Council (PPR-MTEN) and Kuala Lumpur City Hall (DBKL) public housing does not involve the Employees’ Provident Fund (EPF) providing loans to individuals, the EPF said.
EPF deputy chief executive officer and investment chief Datuk Shahril Ridza Ridzuan said as such interested participants should apply directly to the Federal Territories and Urban Well-being Ministry and not to the EPF.
The thing is… Even trying to withdraw MY OWN MONEY FROM EPF is not easy… So why EPF so easily ‘giving’ out the money?
Well, one can argue that this move is to help those with problems owning even a low cost house… But to me… There are other ways, right? Government could just be the ‘guarantor’ and let those renting the low costs units covert the rental into payment after a number of years…
Heck, even the low cost housing scheme is another funny thing… A few years back, I recall the BIG news when it was exposed that there are many high income earners (from the local councils, etc) owning low costs houses which they are not eligible for…
Heck, one can see so many ‘for sale’ and ‘for rent’ banners at these newly handed over low costs houses. To me, that means something is definitely not right…
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