AmanahRaya collaborates with SPNB to provide legacy planning in affordable home purchases

• Under the agreement, Malaysians with household incomes below RM5,000 who purchase Rumah Mesra Rakyat under the affordable housing programme of SPNB will automatically be offered with AmanahRaya's 'hibah' (gift) and will writing services as part of legacy planning for the homes purchased.

PUTRAJAYA (April 5): The government's trustee company Amanah Raya Bhd (AmanahRaya) on Friday signed an agreement with national housing development company Syarikat Perumahan Negara Bhd (SPNB) to provide legacy planning in home purchases.

Under the agreement, Malaysians with household incomes below RM5,000 who purchase Rumah Mesra Rakyat under the affordable housing programme of SPNB will automatically be offered with AmanahRaya's 'hibah' (gift) and will writing services as part of legacy planning for the homes purchased.

AmanahRaya chairman Tan Sri Idrus Harun said the initiative will provide exposure to the people on the importance of estate planning and wealth management through hibah and will instruments to ensure the safekeeping of wealth for the heirs and recipients.

"Indeed, it will ensure that the welfare of the heirs is protected in the event of demise of the homeowners. This is also very much in line with the government's Malaysia Madani framework," the former attorney general said.

On the other hand, SPNB chairman Datuk Husam Musa said the collaboration will provide added value to SPNB's products, especially for the Rumah Mesra Rakyat (RMR) programme, which will benefit house owners by ensuring continuous homeownership by their heirs in the future with a payment as low as RM1,000.

"For this year, SPNB will be executing a total of 3,500 RMR units. To date, we have completed a total of 66,195 units of RMR houses nationwide," he said.

Both SPNB and AmanahRaya are wholly owned by the government under Minister of Finance Inc. SPNB was established in 1997 to provide quality and sustainable affordable housing to Malaysians in line with the national housing policy, while AmanahRaya was established in 1921 as the Department of Public Trustee and Official Administrator, which was subsequently corporatised in 1995 as AmanahRaya.

The agreement was signed by AmanahRaya group managing director Ahmad Feizal Sulaiman Khan and SPNB acting chief executive officer Zahanuddin Kamarudin, and witnessed by the respective chairmen and Prime Minister Datuk Seri Anwar Ibrahim.

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