Najib displeased with FundMyHome scheme

(Nov 8): Former Prime Minister Datuk Seri Najib Razak said he is displeased by the FundMyHome scheme that was announced in Budget 2019.

In a Facebook post, he said: "I am displeased about this housing scheme. Insya-Allah, I will share my opinion about it.

"I think just like many of the items announced in Budget 2019, all of these actually have not been well-planned or are still in the planning stage. In fact, it does not benefit the people."

Najib added that he was amazed by the sequence of events.

He said on Nov 2, the Government announced Budget 2019 which allowed the private sector-driven property crowdfunding platform.

On Nov 4, FundMyHome's proprietary platform of a private company was launched.

On Nov 5: The Securities Commission came out with a statement that "We will review the details of the proposed structure ..."

It seems there are certain parties that knew that this scheme would be announced, he said. — theedgemarkets.com

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