KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) has proposed for a further six month extension of the automatic moratorium on the repaym...
: The Federation of Malaysian Manufacturers has proposed for a further six month extension of the automatic moratorium on the repayment/payment of loans/financing which will end this September.
FMM said in a statement that the added six months will help provide financial relief and give some breathing space to the many small and medium enterprises and individual business persons who are facing economic challenges. “At the same time, to ensure that the economy can quickly recover, the extended moratorium would allow SMEs including entrepreneurs to tap and benefit from the various initiatives that have been introduced under the PENJANA Short-Term Economic Recovery Plan to assist with business recovery without further burdening businesses with the cost of servicing their loans/financing and indirectly reduce their cost of business survival,” a statement by FMM president Tan Sri Soh Thian Lai.
1)Six-month moratorium from date of disbursement on all of the PENJANA financing schemes as currently only the RM500 million Bumiputera Relief Financing has provided this relief.
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