Weekly Industry News

Developers in talks with Bank Negara on aid plan

Weekly Industry News

The Real Estate and Housing Developers’ Association (Rehda) is in talks with Bank Negara Malaysia (BNM) to work out plans to help the property market at a time when the country is on the brink of technical recession.

“At this point in time, we’re gathering the impact from our members,” said Rehda vice president and Rehda Selangor chairman Zulkifly Garib (pix).

Local banks are extending a helping hand to borrowers by not compounding the interest on loans during the six-month moratorium announced last week.

This comes after the central bank announced the automatic grace period, which allows borrowers deferring loan repayments from April to September, as part of its relief measures to alleviate the people’s financial burden.

Media Title: The Sun

Date: 30 Mar 2020

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