KUALA LUMPUR: The Yayasan My First Home (YMFH) programme is aimed at helping at least 1,000 B40 households, says Tan Sri Vincent Tan.
The YMFH chairman said the foundation will ensure that many people will have a chance to own a house.
“Owning a home should be a basic right. Unfortunately, the cost of housing has risen faster than income.
“Affordability and access to finance is another key issue as many people cannot get loans as they have been blacklisted. These are the people the foundation will try to assist,” he said at the launch of the programme at Berjaya Times Square Hotel.
The event was graced by Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah on Thursday (March 3).
The Better Malaysia Foundation, of which Tan is also the chairman, has pledged to contribute RM5mil as an initial donation for YMFH to commence this initiative.
“For many B40 households, debt is a crippling challenge which can prevent access to financial support if an individual is blacklisted.
“YMFH aims to understand these challenges better so that we can identify means of helping these individuals,” said Tan.
“We would like to invite businesses, government bodies, NGOs, and the general public to join YMFH in its laudable efforts and facilitate much needed solutions which will help increase home ownership in our country,” he added.
YMFH trustee Datin Seri Sunita Mei-Lin Rajakumar in her welcoming speech said that the foundation intended to become a centre point and facilitator between the B40 communities and relevant parties such as the authorities.
“We would also create a database containing eligible households, while providing financial assistance to them and provide research and development regarding home ownership by the B40 community,” she added.
The event was attended by Communications and Multimedia Minister Tan Sri Annuar Musa, several senior civil servants, members of the diplomatic corps, representatives from various NGOs and relevant government departments.