Experts expect a rise in non-performing loans as many Malaysians face pay cuts and retrenchments.
Property buyers are guessing that prices will decline tremendously after the moratorium ends after next month. Last year, the government’s Home Ownership Campaign ran for the entire year and recorded RM13 billion worth of property, or 28,000 units, sold.Expect a rise in non-performing loans because households may not be able to repay their loans due to a loss of income or no steady source of income.
“Also, there may be pay cuts or retrenchments owing to the current crisis and many borrowers may be unable to service their loan commitments, thus leading to more NPL stock,” said Loh.
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