A National Housing Fund that will help B40 families buy their first home could be on the cards, says Local Government Development Minister Nga Kor Ming.

This would be a new concept to help these families own houses, and among the proposals was that the government provide the 10% down payment. Nga said this was still in the planning stage and there were matters to be ironed out before putting the plan into action.

“My ministry, through the National Housing Department, will propose to the Finance Ministry that the 10% deposit be contributed by the government to these families so that they can own their first home,” he said in the Selamat Pagi Malaysia programme that aired on RTM yesterday.Nga said the ministry will also provide financing guarantees of up to 120% under the Housing Credit Guarantee Corporation (HCGS) scheme, especially for people with irregular income to own a home.

“The government has allocated RM5bil for the guarantee, not 100% but up to 120%, including legal fees,” he said, adding that Syarikat Perumahan Negara Bhd (SPNB) had completed 15,445 units of Rumah Mesra Rakyat (RMR) two years ahead of the targeted completion deadline of 2025.SPNB had also exceeded the target of 15,000 units laid out in the 12th Malaysia Plan, he added.

“The ministry is mobilising its workforce to achieve the overall construction target of 500,000 RMR units. So far, we’re right on track,” said Nga.

Source: TheStar.com.my

Bosch, German-based engineering and technology company, plans to invest RM1.62 billion in phases within the next decade in its operations here to strengthen the global supply chain for semiconductors.

Member of the Bosch Mobility Sector Board, Klaus Maeder said the long-term investment is a testimony to the company’s commitment towards Malaysia.

“One of the reasons why we are confident in investing heavily to set up our operations here is the existing semiconductor ecosystem, as our suppliers and many other semiconductor players are also here.

“Semiconductors are key to the success of all Bosch’s business areas and the Penang back-end site is a key component in our growth strategy in the mobility sector as we respond to the increased demand for semiconductors,” he said.

He said this during a press conference after the opening ceremony of Bosch’s Semiconductor Back-End site here yesterday.

Also present was Penang Chief Minister Chow Kon Yeow; Malaysian Investment Development Authority (MIDA) chief executive officer (CEO), Datuk Arham Abdul Rahman; special adviser to the chief minister of Penang, Datuk Seri Lee Kah Choon; and InvestPenang CEO Datuk Loo Lee Lian.

Maeder emphasised that the company chose to invest in Penang for its high level of semiconductor knowledge and skilled workforce, while the close proximity to business partners and customers here would shorten delivery times and distances for the chips.

He said the back-end site, which currently spans over 18,000 square metres, is one of Asia’s most advanced semiconductor backend sites for the final testing of its automotive chips and sensors.

The facility would systematically reinforce Bosch’s semiconductor business and manufacturing footprint to meet global chip demand.

Meanwhile, Bosch Malaysia managing director, Klaus Landhaeusser said Malaysia is an important hub in Bosch’s global semiconductor supply chain, accounting for around 13 per cent of the global back-end production.

“We are expanding the local semiconductor ecosystem further and reinforcing our commitment in Malaysia amid our 100-year celebration.

“Our new facility in Penang brings Bosch’s global manufacturing network closer to outsourced semiconductor assembly and test vendors in the region as well as to our automotive customers in the Asian market,” he added.

The new Penang facility is expected to employ up to 400 associates by mid-2030.

With a total of 4,200 associates and nearly RM400 million worth of investments in Malaysia as of Dec 31, 2022, Penang is home to the largest number of manufacturing facilities in a single country for Bosch in South-east Asia.

Source: Bernama

Enovix Corporation (Enovix) an advanced silicon battery company, and YBS International Berhad (YBS), a Malaysia-based investment holding company will hold an official signing ceremony later today (Aug 1), to commemorate its new manufacturing facility in Penang Science Park.

The event will include welcome addresses by the Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz; Chief Minister of Penang, Chow Kon Yeow; Enovix Chief Operating Officer, Ajay Marathe; and, YBS Chief Executive Officer, Jackie Yong Chan Cheah.

“We are thrilled to announce this significant milestone in our journey to scale. In addition to working with YBS, we look forward to collaborating with MIDA, the Northern Corridor Economic Region and InvestPenang to include an investment incentive, which will support our long-term goals in Malaysia,” said Marathe in a statement.

Enovix is on a mission to power the technologies of the future. Its disruptive architecture enables a battery with high energy density and capacity without compromising safety.

Source: Bernama

About Sactuary Terrace

A residential development by IJM Land at Alma in Bukit Mertajam. Located on 8.9 acres of land along Jalan Santuari 2, about a 20-minute drive to both Penang bridges. Nearby amenities include AEON Mall, Tesco Hypermarket, eateries, schools and banks. This development will offer 95 units of 2-storey terrace houses.

Find out more about Sanctuary Terrace

A total of 20,000 first-time house buyers will benefit from the government guarantees of up to RM5 billion provided through the Housing Credit Guarantee Scheme under Syarikat Jaminan Kredit Perumahan (SJKP).

Local Government Development Minister Nga Kor Ming said through the improvement, which provides financing guarantees of up to 120 per cent, more people will get the opportunity to own homes.

He said the scheme is part of a financing programme under the collaboration between the Ministry of Local Government Development and the Ministry of Finance to help people with no fixed income such as gig economy workers, business owners, traders or small entrepreneurs who want to buy a house.

He said this at the ground-breaking ceremony of the Rumah Selangorku project by Kumpulan Berjaya in Subang on Friday.

Prime Minister Datuk Seri Anwar Ibrahim at the launching ceremony of the Madani Economy: Empowering the People initiative yesterday, announced that the government will improve the scheme by providing a financing guarantee of up to 120 per cent of the house price, valued up to RM300,000.

Anwar said it would enable all home ownership costs to be covered through the loan, including the principal amount, legal fees, appraisal, and insurance fees as well as the purchase of furniture and renovation costs.

Nga said according to SJKP data, as of January 31 a total of 6,808 loans were approved under the scheme and of that number, 65.11 per cent or 10,945 successful applicants were in the age range of 35 years and below.

Source: Bernama