Affordable Housing for Government Employees
Seagate Global invests in Malaysia government employee housing projects guaranteed by the government under the PPAM program and other official affordable housing programs. The projects range from single story developments to high-rise apartment buildings. The government co-invests alongside Seagate in the projects. The homes are sold below market value which creates a large demand for these new, attractively priced, modern homes. Through this program, Seagate originates high yielding government guaranteed housing receivables for international investors.
Government Trade Receivables
Seagate’s Government Trade Receivable program is one of our first Malaysia initiatives. We started by supplying construction materials. Over the years, we have expanded this program and we are now an official supplier to the Malaysian Government where we supply goods for various Ministries and Agencies. The government identifies local goods for Seagate to buy for the government. This creates a government trade receivable. We have used this supplier experience to help strengthen our housing initiative by reducing the price of construction materials. All receivables generated through this program are a direct obligation of the Government of Malaysia.