Foundation helps B40 families own their first homes

KUALA LUMPUR: The charitable organisation set up by Tan Sri Vincent Tan to help needy Malaysians own their first homes has processed over 2,000 applicants, and managed to assist 19 Malaysian families that include squatters, as a start.

The Yayasan My First Home (YMFH), which began operations in 2022 with a RM5mil capital injection from Tan, the foundation chairman, has provided downpayments, deposits, legal and evaluation fees, among others, to this pioneer batch.

Its general manager Nambee Ashvin Nambiar said the foundation is committed to assisting more Malaysians from the B40 category who want to own their first home.

“We invited other NGOs who are working with the Orang Asli community to partner with us in helping to build more homes for this group of Malaysians,’’ he said.

The B40 group comprises citizens who earn a median household income of RM5,000 and below, which covers about 40% of Malaysia’s population.

Those who fall in this category often struggle with home ownership, other than grappling with the cost of living.

Nambee said the foundation was set up to promote and facilitate the development of affordable housing and home ownership by the B40 group, moving them up from being tenants to first-time homeowners.

He said the foundation had reached out to Malaysian squatters with the help of Melati Ehsan, a housing developer, to assist those in Batu Caves, Selangor.

“The financial assistance provided by YMFH is an interest-free loan that covers the purchase of the house and the legal fees (RM65,000-RM67,000).

“This was provided with the consideration for flexible monthly repayment.

“This ownership of their first home was made possible by having a unique agreement with YMFH between the purchaser and a family member, leading to a massive socio-economic improvement for them as it was moving from the slums to low-cost apartments,’’ he said.

Nambee said another target group for YMFH are the Orang Asli, where many were found to be living in poorly maintained places most of their lives.

“As the initial effort, YMFH collaborated with EPIC Homes for our inaugural Orang Asli community outreach programme, where YMFH sponsored a home for the family of Encik Lingser and Puan Kamariah in Kampung Orang Asli Serigala, Kuala Kubu Baru, Selangor,” he said.

EPIC Homes is a social enterprise that builds homes for the Orang Asli.

YMFH is working on another project in Pahang for the Orang Asli.

More information on YMFH can be found at www.yayasanmyfirst

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