With the present administration consenting to the scheme, Prosma Bhd will rebrand and relaunch its Rent-To-Own scheme by October, reported The Sun Daily.
“Sekretariat Komuniti Prefer Malaysia (SKPM) is working on the rebranding now. We may change the name of the scheme, but it has not been finalised yet. SKPM is deciding on the details now,” said Zamri Abdullah, chief executive of Prosma.
Appointed to manage 50,000 housing units under the RTO scheme, SKPM is the community created on the back of a private initiative to help the government provide residences to Malaysians.
Prosma is the holding company responsible for acquiring properties for the scheme while SKPM owns the scheme.
Prosma and SKPM are working with the Domestic Trade, Cooperatives and Consumerism Ministry (Domestic Trade Ministry) and the Finance Ministry to refresh the mandate issued under the previous administration.
According to Zamri, the current mandate was given to SKPM chairman Datuk Paduka Ab Malek Ranting in 2012 under the National Blue Ocean Strategy.
Given by then deputy finance minister Datuk Ahmad Maslan and then domestic trade, cooperatives and consumerism minister Datuk Seri Hasan Malek, the mandate is accompanied with a letter of support from the Domestic Trade Ministry to secure up to RM200,000 financing for each house.
“The mandate was issued under different administrations at both ministries, so Prosma and SKPM are getting the mandate refreshed and updated with the current administration. The mandate is still valid and, so far, there have been no changes to the mandate,” said Zamri, who also serves as SKPM chief secretariat.
After meeting with the Domestic Trade Ministry in July, Zamri revealed that he is waiting for the release of the official document of the refreshed mandate.
Since the RTO scheme is linked to the housing industry, he also sought the consent of the Urban Wellbeing, Housing and Local Government Ministry.
“We have already informed the ministry and they have acknowledged our RTO scheme and given their consent. They will monitor our scheme.”
Prosma and SKPM also approached the Finance Ministry. However, a meeting with the ministry is yet to be set up.
Prosma, which aims to sign 500 contracts for the scheme this year, started signing contracts with eligible tenants in July. As at 1 August, it had signed a total of 70 contracts worth RM10 million.
Image sourced from FMT
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email Editorial-MY@propertyguru.com.my
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