PR1MA public housing may be dissolved

The turnaround plan is to help PR1MA make good its obligations, or a

KUALA LUMPUR: Perbadanan PR1MA Malaysia may be dissolved pending due diligence and a turnaround plan, its chairman Tan Sri Eddy Chen said.

He said on Thursday: “We found it very challenging because of the business model is numbers driven. It was given a big number to build and very little land to work on”.

PR1MA was established under the PR1MA Act 2012 to plan, develop, construct and maintain high-quality housing with lifestyle concepts for middle-income households in key urban centres.

Its objective was that the housing units would be priced between RM100,000 to RM400,000.

The housing units were to be built in key strategic urban areas nationwide, PR1MA was open to all Malaysians with a monthly household income between RM2,500 to RM15,000.