RHB sees Budget 2017 benefiting SMEs, first-time homebuyers

KUALA LUMPUR (Oct 21): RHB Banking Group’s group managing director Datuk Khairussaleh Ramli said Budget 2017 bodes well for the business community with the various tax relieves and incentives, which will stimulate a robust small and medium enterprise sector.

"Meanwhile, maintaining fiscal discipline in the face of rising operating expenditure and challenging revenue outlook is commendable. This will ensure that the country remains as a favourable investment destination for foreign investors,” he said in a statement today. Prime Minister Datuk Seri Najib Razak had earlier tabled the budget in Parliament.

“This budget has a special focus on inclusiveness, such as helping to manage rising cost of living and enabling home ownership among the new joiners to the job market," said Khairussaleh.

He also lauded the affordable home ownership scheme announced by the government through Perumahan Rakyat 1Malaysia (PR1MA), saying it will enhance eligibility of this group of population to own a house.

"RHB is honoured to be able to be involved in this scheme," he added.

To enhance first home buyers’ affordability, the government will provide public vacant lands at strategic locations to government-linked investment companies and PR1MA, to build more than 30,000 houses, with the selling price ranging between RM150,000 and RM300,000, which is much lower than the market price from RM250,000 to RM400,000. — theedgemarkets.com

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