Prosma expects rent-to-own deal with YNH in September

PETALING JAYA: Prosma Bhd expects to finalise a sale and purchase agreement (SPA) with YNH Property Bhd in September, to implement the rent-to-own (RTO) scheme under Komuniti Prefer .

Prosma said in a statement yesterday the SPA involves assets amounting to RM53 million in Manjung, Perak, and the rental rate is between RM950 and RM1,200 per month for 30 years.

“This SPA will involve several phases and the first phase is divided into several small fractions of residential units based on demand and Musyarakah Mutanaqisah contract which was successfully executed by applicants who succeeded in the interviews conducted,” it said.

“A total of 1,500 new applications have been recorded throughout the year and applicants will be called in stages for an interview session that will be held afterwards throughout the year,” said Sekretariat Komuniti Prefer Malaysia (SKPM) assistant secretariat Faiz Marzuki.

Under the scheme, Prosma provides a corporate guarantee of between 60% to 100% of the 30-year value to financial institutions involved in ensuring the effectiveness of the RTO scheme and as a guarantee of housing to be applied by Prosma through local banks.

SKPM is also preparing to call out the successful applicants for the execution of the Musyarakah Mutanaqisah contract with Prosma, which will be held later this month, involving 180 residential units in Telaris Gombak.

Telaris Gombak is being developed by Tiger Synergy Bhd. A total of 80 applicants have been identified and succeeded in the initial interview process conducted by SKPM.

The interview and contract signing session is also being actively conducted for the Prominence condominium in Penang for applicants involving 133 residential units with total assets of RM77 million so far.

Priced at RM500,000 to RM700,000, Prosma said the condominium is catered to the high-income group who wants to own a home without any mortgage facility. The rental rate is RM2,000 to RM3,000 per month including assessment fee borne by Prosma, for 30 years.

Due to low awareness of the RTO scheme, SKPM is now actively conducting briefing and interview sessions periodically to explain the methods and schemes implemented through SKPM.

Source: The Sun Daily

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