In a bid to help the nation pay off its RM1 trillion debt, Mah Sing Group Bhd donated RM3 million to Tabung Harapan Malaysia as part of its corporate social responsibility initiative, reported Bernama.
“For the first time in Malaysia’s history, we are seeing a groundswell of support to crowd-raise funds for the country, and as a public-listed company that is growing with the nation and serving the people’s needs, we are glad to be part of this effort,” said Tan Sri Leong Hoy Kum, Group Managing Director of Mah Sing.
Other property developers that have donated to Tabung Harapan Malaysia include Aspen Group (RM1 million), Ideal Property Group (RM1 million), Unimech Group Berhad (RM300,000) and Lumson Bina Engineering (RM200,000), according to Free Malaysia Today.
Meanwhile, Leong believes the property market is improving with a feel-good effect thanks to the reduced cost of living due to the zero rating of goods and services tax.
“Malaysia’s medium-to-long-term outlook is positive due to strong fundamentals such as young population and healthy gross domestic product growth.”
He noted that the government’s plan to ease lending regulations for first-time home buyers and small businesses would not only help boost the property market, it will also benefit the company.
“This is because 71 percent of our buyers are aged 40 and below, many of whom are buying their first property,” explained Leong.
Image sourced from The Star Online
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my
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