New Straits Times
27 February 2025
Over 20,000 borrowers to benefit from extra RM10bil housing credit guarantee by government
Finance Minister II Datuk Seri Amir Hamzah Azizan said the additional guarantee will benefit over 20,000 borrowers.
KUALA LUMPUR: The government has provided an additional RM10 billion guarantee to enhance the Housing Credit Guarantee Scheme (HCGS) under Syarikat Jaminan Kredit Perumahan Bhd (SJKP).
Finance Minister II Datuk Seri Amir Hamzah Azizan said the additional guarantee will benefit over 20,000 borrowers.
"The Madani government is concerned about the housing financing challenges faced by those without a stable income to own their first home.
"Considering the current situation with many people working in the informal sector and as gig workers, the government is increasing the Housing Credit Guarantee Scheme with an additional guarantee of RM10 billion ringgit for 2025, which will benefit more than 20,000 borrowers," he said.
Amir Hamzah was speaking at the launch of government guarantee schemes under SJKP and Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) here today.
Additionally, the government guarantee through SJKP will provide a programme to assist in financing the purchase of first homes valued at up to RM500,000 built on wakaf land.
"Since its establishment in 2009 until December 2024, SJPP has sucessfully guaranteed financing for over 75,000 small and medium (SME) enterprise entrepreneurs with total financing exceeding RM102 billion," Amir Hamzah said.
"In 2024 alone, more than 14,000 SMES received financing approvals amounting to RM18.5 billion. This initiative reflects SJPP's commitment to enhancing financing access and supporting SMEs as the backbone of the national economy, driving inmivation and contributing to a more progressive economic development," he added.
Since its inception in December 2007, Amir Hamzah said SJKP has approved guarantees for over 76,000 applicants with total financing exceeding RM17.8 billion.
In 2024, the scheme benefited more than 36,000 applicants with total approved financing of RM9.7 billion.
He emphasised the importance of collaboration between stakeholders and those involved to raise awareness of various government initiatives and assistance programmes.
"It is my hope that SJPP, SJKP, financial institutions and all stakeholders will be more active and continue to expand their reach through targeted campaigns, digital platforms and advisory services to the SME community that lacks collateral or a strong credit history but has high growth potential.
"SJKP should also continue to focus on first-time homebuyers, especially those in the gig economy, the informal sector and rural communities who may not meet traditional banking requirements," he added.
SJPP Bhd and SJKP Bhd principal officer Datuk Fazlur Rahman Zainuddin said at present, the schemes have received participation and support from 34 financial institutions under SJPP and 16 financial institutions under SJKP.
"SJPP and SJKP have also forged strong collaborations with various business chambers and associations to ensure information about these schemes reaches association members and the general public so that more people can benefit from the government's guarantee schemes.
"Nevertheless, we warmly welcome the involvement of more relevant parties in collaborating with SJPP and SJKP to achieve the objective of assisting those in need," he added.
(Web Source: https://www.nst.com.my/business/corporate/2025/02/1181341/over-20000-borrowers-benefit-extra-rm10bil-housing-credit)