PR1MA due diligence report to be tabled once its financial part is ready

PUTRAJAYA (Sept 12): The due diligence report to identify the direction for the 1Malaysia People's Housing Scheme (PR1MA) will be tabled to the Cabinet as soon as its financial due diligence part is received, said Housing and Local Government Minister Zuraida Kamaruddin.

Speaking to reporters after launching her ministry’s Innovation Day here today, she said there were two parts of the due diligence, namely financial and management.

She said the financial due diligence should be ready at anytime now, while that of the management had been received.

It was reported that PR1MA had previously faced a liability of RM23 billion, however after a year, the housing agency was able to settle 50 per cent of their problems and reduce the liabilities to RM12 billion.

Zuraida said the government had given the assurance that it would not dissolve PR1MA and was committed to ensure that all projects related to the housing agency would be completed.