February 08, 2012
The PR MPs pronounced they were told the EPF would not provide the supports if these were managed by the FT Foundation. Picture by Choo Choy May
EPF officials told Pakatan Rakyat (PR) lawmakers today which the establishment would additionally usually lend income directly to the federal supervision for the scheme, which has been criticised for being the intensity sub-prime loan facility as the dictated home-buyers have been low-income earners who do not validate for conventional bank financing.
Citing EPF's emissary chief senior manager Datuk Sharil Ridza Ridzuan, the MPs additionally pronounced EPF simplified which the due loan amounted to RM300 million as well as not RM1.5 billion as previously reported.
"One of the conditions is which the loans have been not managed by the Yayasan Wilayah Persekutuan [Federal Territory Foundation], who is the owner, but to the monetary institution," the DAP's Tony Pua told reporters today, relating the explanation given by Shahril to 3 antithesis MPs earlier.
Pua combined which Shahril pronounced the proposal usually stated which RM300 million would be given out for the first collection of intensity home owners as well as not RM1.5 billion as previously reported.
The PR bloc has been during the forefront in perfectionist the supervision explain why it is pushing to use income meant for late workers, to help finance those who cannot validate for blurb bank loans to buy homes.
Federal Territories as well as Urban Welfare Minister Datuk Raja Nong Chik Raja Zainal Abidin triggered the outrageous open outcry recently ! when he disclosed the due loan intrigue to the little 20,000 utter City Hall tenants to buy homes in the national capital with income from EPF, which is meant to guarantee the pension supports of the little 5.7 million contributors.
Raja Nong Chik previously pronounced the loan would be secure as it is on trial by the Kuala Lumpur City Hall (DBKL), the supervision agency, as well as which EPF would earn 5.5 per cent seductiveness per annum from the repayments from the new home owners.
The Umno senator additionally pronounced he expects "not some-more than 10 per cent (of the borrowers) will default".
The Barisan Nasional (BN) federal supervision was forced last week to residence fears which the housing loan intrigue would outcome in waste for active EPF contributors.
Under the scheme, applicants will receive the 100 per cent loan, with the amends duration of up to 25 years to concede borrowers to have "smaller" monthly repayments.
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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