BY WANI MUTHIAH
TANJONG KARANG: Tan Sri Noh Omar says he will abide by whatever decision the Cabinet makes on the plan to allow housing developers to give loans to potential house buyers.
The Urban Wellbeing, Housing and Local Government Minister is set to explain the proposal to Cabinet later Wednesday.
He told reporters that if Cabinet opines that the plan cannot be implemented and will adversely impact the nation’s economy, he would abide by the decision.
However, if the suggestion receives the Cabinet’s approval, Noh said his ministry would impose guidelines for housing developers to follow if they wished to obtain the necessary licenses to give out loans.
Noh explained that giving housing developers licenses to provide loans was not something new.
“There are provisions under the Moneylenders Act 1951 which allow for this. I wanted to formally announce the suggestion as there may be developers who do not know about it,” Noh, who is Tanjong Karang MP, told a press conference at a Hari Raya Haji event at his constituency on Tuesday.
