Value of loan moratorium estimated at RM78.1b

Banking institutions are ready to assist those who require an extension of the moratorium and targeted bank assistance following Sept 30


THE value of moratorium on loan repayment by financial institutions is estimated at RM78.14 billion.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (picture) said RM50.79 billion was utilised by the people and the business sector utilised the remaining RM27.35 billion.

Tengku Zafrul said banking institutions are ready to assist those who require an extension of the moratorium and targeted bank assistance following Sept 30.

“Those who are still affected can start contacting their banks to discuss and apply for flexible repayment options,” he said in the 19th Laksana report on the implementation of the Prihatin Rakyat Economic Stimulus Package and short-term National Economic Recovery Plan (Penjana).

The small and medium enterprises (SMEs) soft loan fund administered by Bank Negara Malaysia has seen an increase in total applications approved to RM10.2 billion from RM10.1 billion, benefitting 22,322 SMEs.

According to the minister, this amount included the Special Relief Facility, Automation & Digitalisation Facility, All-Economic Sector Facility and Agrofood Facility funds.

“Under the Penjana SMEs financing, the government has allocated an additional funding of RM2 billion to assist SMEs affected by the Covid-19 pandemic, with priority given to SMEs that have never received any financing from banks.

“As of Aug 21, 2020, a total of 1,172 applications, an increase from 803 last week, were approved, valued at RM329.5 million, which was an increase from RM234.7 million last week,” Tengku Zafrul said.

In addition, the wage subsidy programme saw a total of RM10.3 billion subsidies approved, benefitting over 2.61 million employees, with a total of RM8.9 billion has been successfully disbursed.

Under the government’s Prihatin initiative, the Bantuan Sara Hidup (BSH) saw a total of 4.18 million recipients receiving their payments credited directly into their bank accounts totalling RM2.7 billion.

“I would like to remind the public that the BSH 2020 Appeal Application is open until Sept 6, 2020.

“No payment is needed when submitting an application or appeal. The appeal process can be made at the Inland Revenue Board of Malaysia branches or service centres, Urban Transformation Centres or online, for specific applicants who were unsuccessful earlier,” said Tengku Zafrul.

Meanwhile, the Social Assistance Support for Vulnerable Groups disbursed a total of RM60.66 million for 202,204 recipients.

On the health front, Tengku Zafrul said a total of RM1 billion has been allocated to finance the purchase of medical equipment, personal protective equipment and laboratory requirements for Covid-19 screening.

“As of Aug 21, a total of RM515 million was channelled to the Ministry of Health to enhance its capacity to tackle the Covid-19 pandemic,” he said.