Saturday, October 3, 2015

NHMFC President Elected as ASMMA Chairman

Current ASMMA Chairman and President/Chief Executive Officer & Executive Director of Cagamas Berhad of Malaysia Mr. Chung Chee Leong passes the mantle to NHMFC President Dr. Felixberto U. Bustos, Jr. as the next ASMMA Chairman for 2016.

National Home Mortgage Finance Corporation (NHMFC) President Dr. Felixberto U. Bustos, Jr. has been elected as the new chairman of the Asian Secondary Mortgage Market Association (ASMMA) during the second ASMMA Round Table Discussion.

ASMMA is an informal non-profit organization, which is open to all secondary mortgage corporations in Asia. Its organization was initially discussed during the Secondary Mortgage Markets: Asia Forum 2013 held in Bangkok, Thailand on 31 July 2013 and was eventually endorsed at the Asian Secondary Mortgage Corporation (ASMC) Roundtable Meeting held at Bank Negara Malaysia (BNM), Kuala Lumpur, Malaysia, on 30 September 2014 by five secondary mortgage organizations from Malaysia, Thailand, Japan, Indonesia, and Philippines.

ASMMA’s mission is to provide basis and a platform for exchange of ideas, views and experiences in promoting housing finance market to enable the citizens in the economies of the members of ASMMA to have better access to home financing support, leading or having better quality of life ultimately.

Mr. Chung Chee Leong, current ASMMA Chairman and President/Chief Executive Officer & Executive Director of Cagamas Berhad of Malaysia, nominated Dr. Bustos as the next chairman for 2016, and his chairmanship was through the consensus of all members of ASMMA.

As Chairman, Dr. Bustos shall chair all meetings held by ASMMA and actively promote and enhance the coordination and cooperation among members.  The chairman shall ensure ASMMA’s adherence to its mission and carry out such other tasks and functions as made and mandated by the members by a single majority resolution.

“Thank you for the opportunity to serve. I will try my best to broaden the mandate and the direction of the association”, Bustos said.

Along with the recent ASMMA Round Table Discussion, the 2nd ASEAN Fixed Income Summit  (AFIS) was hosted by NHMFC in the country last 28 September 2015, with Korea and Mongolia joining the original 5 members. The Summit addressed issues and challenges in promoting liquidity and market transparency in the ASEAN region. Following the ASMMA and AFIS, it was decided that the 3rd ASEAN Fixed Income Summit and ASMMA discussion will be hosted by the Secondary Mortgage Corporation of Thailand, while the Secondary Mortgage Facility of Indonesia volunteered to host for 2017.

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