Integrated building materials specialist, Chin Hin Group Bhd is optimistic that more affordable housing projects will be introduced in the upcoming Budget 2017, as reported in New Sabah Times.

Group Managing Director Chiau Haw Choon said currently, both the Federal and Selangor governments have been encouraging the developers to build smaller units at more affordable prices.

"I think the government will introduce more affordable housing projects in the upcoming budget announcement" he said in response to a question on the group's wish list for Budget 2017, which will be tabled in Parliament on Oct 21.

Earlier, Chiau represented the company to sign the share sale agreements with Midah Industries Sdn Bhd and Epic Diversity Sdn Bhd here, Thursday.

In April this year, Prime Minister Datuk Seri Najib Tun Razak said the government had pledged to build one million affordable homes by 2018.

Meanwhile, Chiau also called on the government to loosen the loan approval policy for first-time house buyers in the upcoming budget.

"With a more flexible financing requirement to first-time house buyers, it will help boost the property sector in the country, which subsequently will benefit the building material suppliers like us" he said.

He also hoped the government to further reduce the corporate tax from the current 24 percent, as well as to introduce more tax benefits for capital reinvestment activity.

"The move will encourage us to reinvest more and expand our business" he added.