NewParadigm, SHAREDA team up for affordable housing programme

Left to right: SHAREDA deputy president Datuk Chua Soon Ping, SHAREDA president Chew Sang Hai shaking hands with NewParadigm Capital Markets MD Charanjeev Singh. Beside him is NewParadigm executive director Danny Kwan.

KOTA KINABALU: NewParadigm Capital Markets Sdn Bhd and Sabah Housing and Real Estate Developers Association (SHAREDA) have signed a memorandum of understanding (MoU) to establish and implement a rent-to-own programme in the affordable housing segment. 

In a release, NewParadigm Capital Markets said that together with SHAREDA, they will perform within the scope of their mandates to work with the State Government of Sabah to establish and implement a rent-to-own programme for the affordable housing segment in Sabah.

The MoU was signed at the opening ceremony of the SHAREDA Property Exhibition (PropEX) 2018 on Oct 19, that was launched by Datuk Jaujan Haji Sambakong, Deputy Chief Minister of Sabah and Minister of Local Government and Housing, Sabah.

“The objective of the rent-to-own programme is to facilitate homeownership especially in the affordable housing segment in Sabah with an independent capital market structure capable of financing the whole spectrum of the relevant commercial requirements,” SHAREDA President Chew Sang Hai said in the release.

NewParadigm Capital Markets will develop the rent-to-own programme to promote home ownership particularly in the affordable housing segment while SHAREDA will implement this collaboration within the framework of the rent-to- own programme, to promote and encourage the rent-to-own programme in Sabah.

“NewParadigm Capital Markets attaches great importance to collaborate with SHAREDA, gaining yet another major partner in the effort to promote home ownership especially in the affordable housing segment on a national scale,” said NewParadigm managing director Charanjeev Singh.

“Synergies with SHAREDA substantially expands the prospects of developing a feasible rent-to-own programme aimed at increasing home ownership especially in the affordable housing segment,” added NewParadigm executive director Danny Kwan.

Established in 2005, NewParadigm is an award winning, independent and privately-owned corporate finance advisory firm licensed by the Securities Commission of Malaysia.

It is in the niche business of providing independent financial and strategic advice on capital raising, financings, recapitalisation & restructurings and mergers & acquisitions.
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