KUALA LUMPUR (Sept 22): The PENJANA SME Financing for small and medium enterprises (SMEs) affected by COVID-19 has approved 2,556 applications with a total value of RM639.57 million until Sept 11, 2020.
The government has allocated RM2 billion for the financing scheme, with priority given to SMEs that have never received any financing from banks.
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said under the National Economic Recovery Plan (PENJANA) Credit Financing under Bank Simpanan Nasional (BSN), a total of RM42.92 million has been disbursed and utilised by 1,146 SMEs and micro SMEs.
“The Entrepreneur Group Economic Fund (Tekun) Business Recovery Scheme or TBRS, which aimed to help support the cash flow of the micro small and medium enterprises (micro SMEs) sustain and keep their employees, has channelled RM71.2 million benefiting 10,649 micro SMEs as at Sept 11, 2020," he said.
Tengku Zafrul was presenting the 22nd LAKSANA (Unit for the Implementation and Coordination of National Agencies on the Economic Stimulus Package) report on the implementation of the Prihatin Rakyat Economic Stimulus Package (PRIHATIN) and PENJANA today.
To ensure the survival of Bumiputera entrepreneurs in facing difficulties arising from the COVID-19 pandemic, he said the government has also spent RM1.85 million from RM200 million allocated to eight Bumiputera-owned businesses as at Sept 11, 2020.
It has also allocated RM300 million in the form of working capital loans under the Skim Pembiayaan Mudah Jaya (SPiM) by Majlis Amanah Rakyat (MARA), with a maximum loan limit of RM1 million with an interest rate of 3.5% per annum.
Meanwhile, Tengku Zafrul said in the same period, 10.98 million people have received RM50 in their e-Wallets with a total value of RM548.8 million under the ePENJANA.
"ePENJANA recipients are reminded that the credit in this e-Wallet must be used before Sept 30, 2020. After that date the credit value will expire from the e-Wallet user’s account," he said.
In support of the arts, culture and entertainment sector, Tengku Zafrul noted that the MyCreative Ventures and Cultural Economy Development Agency (CENDANA) under the supervision of the Ministry of Communications and Multimedia has been created to revive the creative industry.
He said industry players can apply for assistance from the relevant agencies and visit the website www.cendana.com.my for more information.
In the same report, Tengku Zafrul said the Wage Subsidy Scheme under PENJANA approved RM10.44 billion wage subsidies as at Sept 11, 2020, benefitting over 2.6 million workers.
He noted that the Hiring Incentive Programme and Training Assistance, which has been allocated RM1.5 billion to encourage hiring by employers, has assisted a total of 33,688 employees, an increase from 28,577 last week, to get jobs.
This number includes 25,752 people under the age of 40; 4,324 people for the age group of 40-60 years, 256 disabled persons (OKU) and 3,356 apprentices.
Besides, the Reskilling and Upskilling Programme across several ministries and agencies has the potential to train new skills for the purpose of job retention, as well as incorporate entrepreneurial elements to start a business.
In terms of empowering the people, he said the PEKA B40 Health Care Scheme (PeKa B40) managed by the Health Ministry received a total of 82,935 claims worth RM5.16 million as at Sept 11, 2020.
The scheme emphasises the early detection of non-communicable diseases to the Bottom 40% of household income group (B40), especially as they age.
The B40 group can register with the PEKA B40 Scheme through the official link regulated by the ministry which is https://www.pekab40.com.my/eng.
On another matter, Tengku Zafrul said to encourage childcare centres to adopt new norm Standard Operating Procedures (SOP) and premise certification, a one-off grant worth up to RM5,000 is channelled to every nurseries and kindergarten operator registered under the Women, Family and Community Development Ministry, and the Education Ministry.
As at Sept 11, 2020, there were 11,067 nurseries reviewed and approved with a total allocation of RM16.42 million.
On PENJANA GIG, he said the government will cover 70% (RM163) of the contribution to the Social Security Organisation (SOCSO), while the remaining 30% (RM69.80) will be covered by gig workers or platform providers, making up a total payment of RM232.80 per year.
"This will provide coverage of up to RM6,000 to gig economic workers in the event of an accident during working hours.
"However, based on SOCSO’s information awareness among gig workers is still low. As at Sept 11, 2020, only 0.95% or 2,847 gig economy workers had registered with SOCSO, out of the target of 300,000 workers," he said.
He said eligibility for the Self-Employed Social Security Scheme covers, among others, medical, educational and physical or vocational rehabilitation facilities.
"In this regard, I would like to urge all parties to play a role in raising awareness on the importance of gig economy workers contributing to SOCSO for future security,” he said, adding that for more information, visit https://gig.perkeso.gov.my/.
Source: https://www.theedgemarkets.com/article/penjana-financing-benefits-2556-smes-rm63957m-disbursed