Pending a turnaround plan and due diligence, Perbadanan PR1MA Malaysia is faced with the possibility of being dissolved.
“We found it very challenging because of the business model is numbers driven. It was given a big number to build and very little land to work on,” stated Perbadanan PR1MA Malaysia Chairman Tan Sri Eddy Chen.
Founded under the PR1MA Act 2012, PR1MA was tasked with the development, planning, construction and maintenance of high-quality housing with lifestyle concepts that are targeted for middle-income households in major urban centres, reported The Star.
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Its objective was to offer the housing units at RM100,000 to RM400,000.
With the housing units built at key urban areas nationwide, PR1MA was available to all Malaysian citizens with a household income of between RM2,500 and RM15,000 per month.
Image source from PR1MA
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