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Unconditional moratorium will be given to all individual borrowers, micro-entrepreneurs

KUALA LUMPUR: A six-month moratorium will be given to all individual borrowers whether they are from the B40, M40 or T20 groups, or micro-entrepreneurs, Tan Sri Muhyiddin Yassin said. The prime minister said no more conditions such as income reduction, checks on whether the applicant had lost his job and documentation needed to be submitted […]

Banks need to give clear explanation about moratorium to affected M40

KUALA LUMPUR: The Association of Banks in Malaysia (ABM) needs to provide a clear explanation about the moratorium for M40 income earners affected by the movement control order (MCO) 3.0, Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said. Based on the feedback he had received, the minister said many in M40 […]

Loan repayment aid, moratorium worth RM30 bln to benefit 5 million borrowers

KUALA LUMPUR: Loan repayment assistance and a moratorium worth up to RM30 billion starting June 2021 is expected to benefit more than five million borrowers, said Prime Minister Tan Sri Muhyiddin Yassin. Muhyiddin said that as a result of discussions with Bank Negara Malaysia, the banking industry gave full assurance and commitment to continue to […]

Increased BPR aid to be credited in June, moratorium for borrowers

KUALA LUMPUR: The government has agreed to increase the rate of the Bantuan Prihatin Rakyat (BPR) aid through the Supplementary Strategic Programme to Empower the People and Economy (Pemerkasa +) announced tonight. Prime Minister Tan Sri Muhyiddin Yassin said households earning below RM2,500 would receive an additional BPR rate of RM500 and households earning between […]

Moratorium, overlapping financing for Tekun entrepreneurs affected by floods

KUALA LUMPUR: Tekun Nasional is offering a special initiative known as “Inisiatif Prihatin Banjir” for Tekun entrepreneurs who are affected by the floods. Entrepreneur Development and Cooperatives Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said the facilities offered by Tekun Nasional included providing a moratorium of up to six months to entrepreneurs who have […]

Ministry to implement 29 initiatives to assist business community

KUALA LUMPUR: The Domestic Trade and Consumer Affairs Ministry (KPDNHEP) will be implementing 29 targeted initiatives to assist the business community through the Covid-19 Pandemic Caring Programme. Its minister, Datuk Seri Alexander Nanta Linggi in a statement yesterday said the initiatives cover two categories which is moratorium and stimulating the economy. He said the moratorium […]

May the light guide us to good financial management

KUALA LUMPUR: The almost endless calls for a blanket moratorium on loans in Malaysia bring back grim memories of the past, especially the failure of Britain’s Northern Rock Bank (NRB) during the global financial crisis 13 years ago. While there could be different reasons on what led to NRB’s failure — the most fundamental flaw […]

Two-year freeze on new courier licences

KUALA LUMPUR: The Malaysian Communications and Multimedia Commission (MCMC) has decided to impose a two-year moratorium on the issuance of new courier service licences, effective Sept 14 this year until Sept 15, 2022. MCMC in a statement today said the decision was made with the consent of Communications and Multimedia Minister Datuk Saifuddin Abdullah through […]

Moratorium period extended until Dec

KUCHING: The state government has agreed to extend the moratorium period for the Sarawak Micro Credit Scheme (SKMS) from October until December this year. Initially, the state government allowed the postponement of the SKMS repayment for six months from April to October, 2020. Chief Minister Datuk Patinggi Abang Johari Tun Openg explained that the move […]

The way forward is a targeted approach

KUALA LUMPUR: The higher the rate of unemployment, the higher the level of non-performing loans (NPLs). That is the simplest hypothesis to explain the hike in NPLs especially in times of crises. NPL occurs when the borrower is in default continuously between three and six months after failing to make any scheduled payments of principal […]