Moneylender developer plan needs careful study

epa05528249 Builders work on a construction site of a new condominium building in Bangkok, Thailand, 07 September 2016. The construction sector in Thailand is expected to continue stable growth after it soared in 2015 experiencing double digit record growth with a rising demand for housing and a continuing stable political climate prevails. The government continues to take measures to attract increased investment in Thailand and push ahead with large public infrastructure programs. EPA/BARBARA WALTON

TAN Sri Noh Omar surprised many of us when he announced on Thurs­day that his Urban Wellbeing, Housing and Local Government Mi­­nistry plans to issue money­lender licences to eligible housing develo­pers so that these companies can provide loans to their customers.

This proposal targets developers with deep pockets and house buyers who have trouble getting bank loans.