KUALA LUMPUR: The value of moratorium on repayment of loans, granted by financial institutions since April 1, 2020, was estimated at RM70.5 billion until Aug 7, 2020, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz (pic) said.
“Of the amount, RM24.7 billion was benefitted by the business sector, while RM45.8 billion by the rakyat,” he said.
He said this in the 17th Laksana Report on the Implementation of the Prihatin Rakyat Economic Stimulus Package (Prihatin) and the National Economic Recovery Plan (Penjana) released here on Wednesday.
Tengku Zafrul said despite the moratorium period coming to an end on Sept 30, 2020, the banking institutions are ready to assist borrowers affected by Covid-19 through extended moratorium and targeted bank assistance.
“Those who are still affected can start contacting the banking institutions from Aug 8, 2020 to discuss and apply for repayment flexibility,” he said.
Meanwhile, the Finance Ministry said a total of 3,459 applications have been approved under the Tekun Business Recovery Scheme (TBRS) amounting to RM24.9 million as at Aug 7, 2020.
Tengku Zafrul said out of the total figure, some RM8.04 million had been disbursed and benefitted 1,078 micro small and medium enterprises (MSME) impacted by the Covid-19 pandemic.
As for Penjana SME financing, he said a total of 392 applications for funding worth RM134.3 million had been approved as at August 7.
“The banking sector offers additional funding of RM2 billion to assist the SMEs, prioritising those that have not received financing from the said bank,” he said.
Under the ePenjana programme launched on July 31, 2020, Tengku Zafrul said some 9.03 million of the people had received RM50 in their eWallet, amounting to RM451.5 million up to August 14.
Through the e-commerce campaign for MSMEs, he said as at Aug 7, 2020, a total of 63,000 MSMEs had received the benefits from this initiative.
“This campaign is aimed at encouraging the use of e-commerce by local businesses to expand their market access.
“This initiative spearheaded by Malaysia Economy Digital Corporation (MDEC) facilitates the transition of SMEs and MSMEs to the e-commerce platform, subsequently broadening their market access,” he said.
He further said that MSMEs and local businesses that want to participate in the campaign can register at www.goecommerce.my/PENJANA.
Source: http://www.dailyexpress.com.my/news/157283/loan-repayment-moratorium-until-aug-7-estimated-at-rm70-5b/