Tengku Datuk Seri Zafrul Tengku Abdul Aziz. -filepic
PETALING JAYA: One million micro SMEs (small and medium enterprises) will each start receiving RM500 in financial assistance under the Pemerkasa Plus stimulus package, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
The Finance Minister said payments to these MSMEs would start immediately.
“This additional financial assistance of RM500, which was announced under Pemerkasa Plus, will be paid from today onwards in stages.
“These payments (add up) to nearly RM500mil that will be credited directly to registered bank accounts in the Prihatin Special Grant (GKP) 3.0 system,” he said in a statement yesterday.
KUALA LUMPUR: Citi Malaysia has extended its repayment assistance measures to its customers, in line with the government s announcement of the National People s Well-Being and Economic Recovery Package (Pemulih).
The bank said in a statement that it is actively engaged with those in the B40, M40 and T20 groups as well as microenterprises and small and medium enterprises (SMEs) impacted by the Covid-19 pandemic.
Borrowers have the option to choose between a six-month moratorium or a 50% payment program for their loan facilities, also for a period of six months
Citi credit card customers will also be able to convert their card balances into term loan facilities to manage their debt, it said.
Tan Sri Abdul Wahid Omar also said the banking system also remained well capitalised with core equity tier one ratio of 14.8 per cent, sufficient buffer against unexpected risks. KUALA LUMPUR: There is a need for customisation of policies and programmes to identify sectors or regions where more support is needed amid lockdowns being implemented in the country, said the Economic Club of Kuala Lumpur (ECKL) today.
Chairman Tan Sri Abdul Wahid Omar said the third Movement Control Order (MCO) and subsequent Full MCO had stifled the recovery, resulting in the World Bank lowering its economic growth outlook for Malaysia for the second time to 4.5 per cent in 2021 down from the 6.0 per cent growth forecast in March 2021.
13 Jul 2021 / 10:40 H. Pix for representational purpose only.
KUALA LUMPUR: While the country is going through various challenges, it is unfair to label Malaysia as a “failed state”, according to several economists.
Sunway University professor of economics Dr Yeah Kim Leng said people in the government, especially those involved in battling the pandemic and economic downturn, are without a doubt doing their utmost best to save lives and protect livelihoods.
“Despite the prevailing law and order, ongoing delivery of public services and well-functioning markets, though interrupted intermittently by lockdowns, the country has been unfairly stigmatised by the ‘failed state’ label,“ he told Bernama in an interview.
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