Sheda backs Abang Johari on upgrade of Mutiara Mortgage and Finance

Augustine Wong Chung Ho
Augustine Wong Chung Ho

KUCHING: The Sarawak Housing and Real Estate Developers’ Association (Sheda) has backed the announcement of Chief Minister Datuk Patinggi Abang Johari Tun Openg to upgrade Mutiara Mortgage and Finance (MMF), a Sarawak-owned financial and mortgage institution that provides loans to lower-income Sarawakians to enable them secure house loans.

During a recent discussion with Sheda, Abang Johari expressed his full support and commitment to Sarawak’s long-term goal of ensuring that the majority of Sarawakians (Anak Sarawak) may own a home of their own.

Meanwhile, Sheda president Augustine Wong Chung Ho hoped that when the MMF expands its scope, the state government would consider including more Sarawakians.

“I hope that more Sarawakians, including those from the M40 and B40 groups who are first-time homebuyers, as well as low-income earners would benefit from this,” he said.

He hopes that the expansion of MMF will include the expansion of ‘unconventional financing’ which might include ‘hybrid financing’, which would allow ‘rent to own’ and ‘housing voucher’ schemes to be incorporated as part of the financing formula for first-time Sarawakian home buyers.

In addition, Augustine also believes that the formula of MMF’s expansion should be multi-pronged depending on the current economic conditions. 

“As people’s needs are constantly changing due to the effects of the ongoing Covid-19 pandemic, we are dedicated to providing the state government with the feedback it needs to facilitate the development of the scope of MMF in these trying times,” he said in a statement on Monday (Aug 9).