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- Chairman Datuk Prof Dr Mohd Azmi Mohd Lila: SPNB has been aware of this issue from the early stages, which is why we have devised several suitable approaches for borrowers, including the land mortgage method, and a five-year moratorium, which allows them to settle the entire loan in full.
TANJONG KARANG (Sept 26): Syarikat Perumahan Negara Bhd (SPNB) has acknowledged that some borrowers are facing repayment difficulties with their Rumah Mesra Rakyat (RMR) loans, despite the low instalment rates.
Its chairman Datuk Prof Dr Mohd Azmi Mohd Lila said that SPNB, however, provides leeway for troubled borrowers to settle their debts, and to date, no severe action has been taken against them.
“We have to understand that SPNB must fulfil its mandated responsibility, and for this, we need the cooperation of existing borrowers to adhere to the repayment schedule, for the benefit of future borrowers who rely on the same fund.
“The issue of repayment does exist, but the number is relatively small and under control. SPNB is committed to managing this matter to prevent it from escalating, and affecting the loan assistance which has been provided since 2002,” he said at a press conference at Blok Q Sawah Sempadan here on Friday.
Mohd Azmi said SPNB does not prevent borrowers who own RMR units from renovating their homes, but reminded them not to neglect their responsibility to repay the loans as agreed.
In that regard, he said that SPNB had introduced various methods to help defaulting borrowers settle their debts prudently.
“SPNB has been aware of this issue from the early stages, which is why we have devised several suitable approaches for borrowers, including the land mortgage method, and a five-year moratorium, which allows them to settle the entire loan in full,” he said.
“However, up to now we have managed to resolve the issue without having to repossess any houses or land, with solutions reached amicably in accordance with agreements made by both parties,” he said.
Earlier, Mohd Azmi presented a new house, built under SPNB’s corporate social responsibility initiative, to Muhamad Zulhadi Mispar, who lost his home in a fire here on May 26.
It is understood that Muhamad Zulhadi, 27, and his seven family members are currently staying at a nearby homestay. The family received the house contribution from SPNB without the need for repayment.
From 2002 until August this year, SPNB, an agency under the Ministry of Housing and Local Government, has built 73,167 RMR units nationwide, including 3,814 units in Selangor.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
