Sarawak rejects developer-sourced home loans move, to provide own lending scheme

KUCHING: The Sarawak government will not adopt the move to allow housing developers to provide loans to buyers, and willcome up with its own financing scheme instead, says Datuk Amar Abang Johari (pic).

The state Deputy Chief Minister said the idea proposed by the Urban Well-being, Housing and Local Government Ministry would not only be financially risky for developers, but would also distract them from carrying out their core business and increase the cost of end financing.