Mah Sing collaborates with RHB bank to offer home financing for Johor projects
The Star | 20 Sept 2024
(From left): RHB Bank’s head of consumer finance Sien Vee Loc, Mah Sing’s head of strategic communications, sustainability and corporate responsibility Lyanna Tew, Mah Sing’s chief executive officer of property subsidiaries Benjamin Ong Chin Yee, RHB Bank’s managing director, group community banking Jeffrey Ng Eow Oo and and RHB Bank’s head of alternate sales channel, Vincent Tan Yee Wee at the launch ceremony.
DEVELOPERS Mah Sing Group Berhad (Mah Sing) has partnered with RHB Banking Group (RHB) to make homeownership accessible through an exclusive home financing package.
The offer includes a 95% margin of financing plus an additional 5% for Mortgage Reducing Term Assurance (MRTA) or Mortgage Reducing Takaful Term (MRTT).
This package is available for Mah Sing’s GreenRE-certified projects in Johor: M Minori’s Tower C, M Tiara 1 and Meridin East.
This is also RHB’s first Green Home Financing initiative in the southern region, providing higher financing margins than the conventional 90%.
The partnership reinforces Mah Sing’s dedication to sustainable development while empowering homeowners with eco-conscious financing solutions.
Mah Sing’s group chief executive officer and executive director, Datuk Voon Tin Yow said their collaboration with RHB’s Green Financing initiative aligns perfectly with Mah Sing’s commitment to creating sustainable and responsible development.
“This collaboration supports our vision of building greener, more energy-efficient homes and provides our customers with financial solutions that encourage environmentally conscious investments.
“By working together, we can make a meaningful impact on the communities and inspire others to embrace environmentally conscious practices,” he said.
Voon remarked that Johor remains an important market for Mah Sing and they are highly optimistic about its potential.
“We believe our projects in Johor will greatly benefit from the region’s ongoing developments, such as planned infrastructure upgrades and enhanced amenities that will greatly improve connectivity.
“Additionally, Johor’s proximity to Singapore positions it as a strategic location for businesses and industries, supported by strong collaborative efforts by the Malaysian and Singaporean governments to boost economic activities in both countries.
“As such, we are actively looking to acquire more landbank in Johor to expand our industrial and residential projects,” he added.
RHB Green Home Financing is an initiative to support sustainable development and eco-friendly investments, contributing to a greener economy and a more sustainable future.
It offers competitive financing options for green projects, such as energy-efficient buildings and renewable energy solutions, enabling both developers and homebuyers to embrace sustainable practices.
RHB’s managing director of group community banking Jeffrey Ng Eow Oo, noted that RHB is excited to support Mah Sing’s GreenRE-certified projects in Johor through the bank’s Green Home Financing solution.
“In 2024 alone, RHB has provided over RM600mil in financing to support the development and certification of green developments across Malaysia.
“This partnership underscores our commitment to fostering a sustainable lifestyle for Malaysians by offering attractive financing for eco-friendly homes,” he said.
Mah Sing’s chief executive officer of property subsidiaries, Benjamin Ong shared, “This 95% + 5% home financing package is timely support for our buyers’ homeownership journey, available exclusively for our GreenRE certified developments: M Minori Tower C, M Tiara 1 and Meridin East.”
Ong added that since the launch of M Minori, 96% of Towers A and B have been sold, prompting the opening of Tower C. M Tiara 1 attracted over 14,000 registrations of interest, while Meridin East, their largest 531 hectare township, has launched nearly 5,000 units since 2016.