KUALA LUMPUR: Property developer, Mah Sing Group Bhd , donated RM3mil to Tabung Harapan Malaysia today.
In a statement, Group Managing Director Tan Sri Leong Hoy Kum said the move was part of the company’s corporate social responsibility initiative.
“For the first time in Malaysia’s history, we are seeing a groundswell of support to crowd-raise funds for the country, and as a public-listed company that is growing with the nation and serving the people’s needs, we are glad to be part of this effort,” he said.
Meanwhile, Leong said the current property market was improving with a feel-good effect as the cost of living has been reduced due to measures taken by the government, such as the zero-rated goods and services tax implementation.
“Malaysia’s medium-to-long-term outlook is positive due to strong fundamentals such as young population and healthy gross domestic product growth,” he said, adding that the government’s announcement to loosen lending regulations for small businesses and first-time home buyers would certainly help boost the property market and benefit the company.
“This is because 71% of our buyers are aged 40 and below, many of whom are buying their first property,” he added. - Bernama