News & Reviews:   b40

The Federal Government is set to launch a new residential property financing initiative called ‘i-Biaya’ this Thursday (14 April 2022) which will review the existing housing financial model in our country. With i-Biaya, new methods will be used to determine loan applicants’ eligibility, including their credit or digital footprint.

The initiative, part of the Malaysian Family Homeownership Programme (HOPE) seeks to improve home ownership among the B40 and M40 income groups in our country. Currently, many potential buyers could not own a house despite having a steady income due to them working in the gig economy sector or are self-employed, such as petty traders with no payslip.

YES officially announced that they have unveiled 2 YES PRIHATIN plans to help Malaysian Citizens in the B40 category by offering free smartphones and free mobile data for an entire year. The plans, which are called YES PRIHATIN Learn-From-Home Families, as well as the YES PRIHATIN Learn-From-Home Individuals, will also allow the users to access YTL Foundation’s Learn-From-Home content absolutely free of charge for an entire year as well as an RM50 Shopee voucher to purchase essentials via Shopee.

Finance Minister Tengku Zafrul has recently announced during the tabling of Budget 2021 that 8 million individuals under the B40 classification will be eligible for an RM180 telecommunication credit, which can be used to pay bills, or even purchase a new mobile phone. But that’s not all, it seems that the government will also be providing telco companies funding of up to RM1.5 billion in order to provide affected citizens with free data.