31-07-2025
Youth laud housing, skills push
IPOH: Young professionals have welcomed the 13th Malaysia Plan (13MP), which they say will address issues relating to cost of living, housing access and future-ready skills.
In particular, they said the expansion of the Housing Credit Guarantee Scheme will support the goal of homeownership.
Finance manager Kalvinderjeet Kaur, 30, said with the government backing part of the loan risk under the scheme, banks would more likely approve housing loans for borrowers, even if their income documentation is not perfect or if they lack a large deposit.
'I believe the move could reduce the burden of high down payments and open the door to better loan terms, such as lower interest rates and longer repayment periods,' she said.
'For someone in my position who values long-term planning, it offers a practical way to own property, build equity, and strengthen financial security.'
Prime Minister Datuk Seri Anwar Ibrahim tabled the 13MP in the Dewan Rakyat yesterday, unveiling initiatives including the Housing Credit Guarantee Scheme that would be expanded to help more low- and middle-income earners own homes.
Marketing executive Branjoe Lye, 24, described the 13MP as promising, especially in terms of its focus on tackling the rising cost of living issue and recognising the value of skilled workers.
He said extending minimum wage to graduates and Technical and Vocational Education and Training or TVET workers is a good move as their skills are being acknowledged.
'But the real challenge is making sure companies follow through with wage enforcement,' he said.
On housing, he said the improved access to financing is a step in the right direction but added that affordability remains a concern.
'If house prices stay high, then easier loans will not help much,' he said.
Allister Davis, 26, an IT executive, expressed cautious optimism.
'The 13MP sounds good, but we have heard similar promises before. Execution is the real issue,' he said.
He agreed that efforts to provide fair salaries for skilled youth and expand home financing are important, but said more attention must be paid to the actual delivery and impact.
'Science, Technology, Engineering and Mathematics, as well as artificial intelligence, are definitely the right move, but we need proper training,' he added.
Ahmed Faazil Rahman Saiful, 28, a lawyer, said the initiatives under the 13MP are set to impact the legal profession across multiple areas.
He noted that the extension of the minimum wage to graduates and semi-skilled workers, coupled with enhanced wage monitoring via the e-MASCO portal, is likely to lead to a surge in employment-related legal work.
'This includes drafting compliant employment contracts, advising on wage disputes, and guiding businesses on evolving regulatory obligations.
'The proposed legislation for gig workers under the Digital Economy Framework is expected to introduce new legal complexities surrounding employment classification, social protection and the rights of informal workers, thus creating demand for advisory and litigation services,' he said.
Ahmed Faazil said the expansion of the Housing Credit Guarantee Scheme would spur greater activity in the property market, particularly among the low- and middle-income earners, resulting in more conveyancing work for legal practitioners.
According to him, lawyers will increasingly need to be well-versed in digital law, data protection and tech-related contracts.
He said the targeted creation of 1.2 million jobs in the manufacturing and digital sectors will likely fuel growth in commercial, compliance, and corporate advisory services.
