MBSB Bank processing up to RM6b affordable housing loans

In its filings with Bursa Malaysia, Yong Tai said its wholly-owned subsidiary YTB Impression Sdn Bhd terminated the deal due to non-fulfilment of the condition precedent as stated in clause 3.1(c) of the joint development agreement. Yong Tai fell half a sen to close at 32.5 sen yesterday.

KUALA LUMPUR: MBSB Bank Bhd, Malaysia's second largest full-fledged Islamic banking by asset size, is currently processing up to RM6 billion in loans for affordable housing.

President and Chief Executive Officer Datuk Seri Ahmad Zaini Othman said the applications in the pipeline included loans for the 1Malaysia People's Housing Programme (PR1MA), 1Malaysia Civil Servants Housing Programme (PPA1M) and Federal Territories Affordable Housing (Rumawip).

"We expect to disburse all the loans this year," he told reporters after signing Mortgage Guarantee Programme and Participation in My First Home Scheme with Cagamas SRP Bhd here on Tuesday. - Bernama