GOVERNMENT trustee company Amanah Raya Bhd (AmanahRaya) sealed a collaborative strategic agreement with the national housing development company Syarikat Perumahan Negara Bhd (SPNB), aimed at bolstering legacy planning for home purchases.
According to the terms of the agreement, Malaysians with household incomes below RM5,000 who buy Rumah Mesra Rakyat (RMR) under SPNB’s affordable housing programme will automatically gain access to AmanahRaya’s ‘hibah’ (gift) and will writing services. These services are integrated as part of legacy planning for the homes purchased.
AmanahRaya chairman Tan Sri Idrus Harun highlighted that the initiative will raise awareness among the public about the significance of estate planning and wealth management through hibah (gift) and will instruments.
The former attorney general noted that this approach will ensure the preservation of wealth for heirs and recipients, safeguarding their welfare in the event of the homeowner’s demise.
“Indeed, it will ensure that the welfare of the heirs is protected in the event of demise of the homeowners. This is also very much in line with the government’s Malaysia Madani framework.”
Meanwhile, SPNB chairman Datuk Husam Musa expressed optimism about the collaboration’s potential to add value to SPNB’s products particularly the RMR programme.
He claimed that this initiative would benefit homeowners by facilitating continuous homeownership by their heirs in the future, with payments as low as RM1,000.
“For this year, SPNB will be executing a total of 3,500 RMR units. To date, we have completed a total of 66,195 units of RMR houses nationwide,” added Husam.
Moreover, both SPNB and AmanahRaya are wholly owned by the government under Minister of Finance Inc.
SPNB, established in 1997, aims to provide quality and sustainable affordable housing to Malaysians, aligning with the national housing policy. AmanahRaya, established in 1921 as the Department of Public Trustee and Official Administrator, was subsequently corporatised in 1995.
The collaborative agreement was formalised through the signing ceremony attended by AmanahRaya group managing director Ahmad Feizal Sulaiman Khan, SPNB acting CEO Zahanuddin Kamarudin and witnessed by their respective chairpersons and Prime Minister Datuk Seri Anwar Ibrahim. – April 5, 2024
Main photo credit: Bernama
