SEPANG, 27th June 2023 – YB Tuan Nga Kor Ming (YB KM), Minister of Local Government and Housing (KPKT), conducted a site visit to the Aspire Residence project in Cyberjaya to personally assess its progress this morning. The visit was accompanied by YBhg. Datuk Hasleen Bin Isnin, Chief Executive Officer of Syarikat Perumahan Negara (SPNB).

According to YB KM, over the past 3 years since August 2020, under the new management of SPNB's Chief Executive Officer, Datuk Hasleen Bin Isnin, the company has undergone a restructuring phase to refocus on being a leader in providing affordable housing, addressing various legacy issues successfully to date. This includes projects under SPNB and the People-Friendly Homes (RMR) Program.

"SPNB, as an implementing agency contributing to the provision of quality and habitable affordable homes under the Ministry of Local Government and Housing (KPKT), has undergone a transformative journey that has significantly positively impacted the affordable housing sector in the country," he stated.

YB KM also mentioned that under Datuk Hasleen Bin Isnin's management, SPNB's main focus is to complete 12 housing projects from past legacies, all of which are expected to be completed by the end of this year or the first quarter of 2024:

1. 1,828 units (52%) have been successfully completed.
2. 1,711 units (48%) currently under construction will be fully completed by March 2024.

Recently, under the new management, SPNB achieved success in the Aspire Residence Cyberjaya project, which was one of the residential projects that SPNB successfully revitalized starting from late 2020. With construction resumed in May 2022 by a rescue contractor, SPNB is confident that this project, which has progressed over 96%, will be ready for handover to all buyers by September this year.

So far, efforts to rehabilitate these projects have been funded using the company's internal revenue.

In addition to residential projects, SPNB also offers the Rumah Mesra Rakyat (RMR) Program, created to assist targeted individuals who do not have homes or live in dilapidated houses but own land to build their own comfortable and complete homes.

Under the 12th Malaysia Plan (12MP), the Government has targeted to construct 500,000 units of affordable homes to enhance homeownership opportunities for the B40 and M40 groups, with SPNB assigned to build 15,000 units of RMR nationwide by the year 2025.

YB KM also stated that SPNB is set to build 15,445 units of RMR, two years ahead of the target, surpassing the 15,000-unit allocation under the 12MP. This achievement contributes to 4% of the overall 12MP target.

During the 3 years under the new management, SPNB has also implemented 10 improvements to the RMR Program:

1. Construction was completed in less than 3 months, with the fastest construction record being 25 days.
2. 6 new design options offered to RMR applicants starting in 2021.
3. RMR was recognized by SIRIM on 14th June 2023 through ISO 37001:2016 / MS ISO 37001:2016 certification for contractor procurement management services of Rumah Mesra Rakyat (RMR).
4. The original income requirement of RM3,000 and below was approved by EPU on 11th January 2023 to be raised to RM5,000 and below.
5. The existing insurance scheme and coverage were improved through the "Komuniti Plus" Insurance program, covering protection for accidents, fires, floods, pilgrimage costs, and death benefits.
6. Cooperation with State Governments to provide financing to RMR applicants, expediting loan recoveries to SPNB.
7. In Sarawak, SPNB Sarawak was gazetted as "Native" status on 27th January 2022, allowing SPNB to directly provide loans to applicants.
8. Online RMR applications were reactivated after being closed in 2018. The application system is being enhanced to enable real-time checking of waiting periods and positions, as well as introducing two-way interaction between applicants and SPNB for future RMR program improvements.
9. The size of RMR units has been reviewed and aligned with the sizes of other subsidized housing programs under KPKT to address the increase in construction material prices.
10. All outstanding debts of RMR contractors for previous years (<2021) totaling approximately RM30 million have been fully settled as of 29th March 2022.

With the implemented transformation, SPNB is committed to continuing its dedication to prioritizing housing projects for the entire population under the supervision of the Ministry of Local Government and Housing (KPKT), empowering the housing agenda and overall well-being of the people, in line with the framework of Malaysia MADANI.

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ABOUT SYARIKAT PERUMAHAN NEGARA BERHAD

Syarikat Perumahan Negara Berhad (SPNB) is a company owned by the Minister of Finance (Incorporated) established on August 21, 1997 to provide quality and sustainable affordable housing to every family in Malaysia in line with the National Housing Policy. SPNB is now under the management of the Ministry of Housing and Local Government (KPKT) since August 3, 2018.

Issued by the Corporate Communication Unit. For further information, please contact 03-7849 2000 (ext: 2587) or email at pr@spnb.com.my.