Loan repayment moratorium valued at RM85.8bil

  • Banking
  • Wednesday, 16 Sep 2020

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz (pic) said of the amount, some RM30bil had benefited the business sector while RM55.8bil involved individuals.

KUALA LUMPUR: The value of the loan repayment moratorium by financial institutions since April 1 is estimated at RM85.8bil, according to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Of the amount, some RM30bil had benefited the business sector while RM55.8bil involved individuals, he said.

With the moratorium ending on Sept 30, banking institutions would continue to be ready to assist borrowers who are still affected by the Covid-19 pandemic through targeted bank assistance, Tengku Zafrul said.

He also urged those who still needed assistance but had not discussed with their banks to do so immediately.

“Bank Negara is also undertaking an online survey to obtain public feedback during this challenging period, ” he said in the 21st Laksana report on the implementation of the Prihatin Rakyat Economic Stimulus Package (Prihatin) and National Economic Recovery Plan (Penjana) issued yesterday.

In the Laksana report, Tengku Zafrul also noted that the cumulative applications for SME soft loan funds under Bank Negara approved by local banks and accepted by the small and medium enterprises totalled RM10.4bil as at Sept 4.

He said the fund benefited 22,688 SMEs compared with applications worth RM10.3bil last week, which benefited 22,440 SMEs.

“This amount includes special relief facility (SRF), automation and digitalisation facility (ADF), all-economic sector facility (AES) and agrofood facility (AF), ” he pointed out.

Tengku Zafrul said that although SRF funds had been fully utilised, the SMEs could still apply for funding schemes under Bank Negara funds including AFG, AES and AF.

The SMEs can also acquire other funding via imSME platform at the link, that will help match the required funding by SMEs with multiple financial institutions.

For the Bank Simpanan Nasional micro credit scheme, payment has been made to 10,695 SMEs as at Sept 4 involving a total of RM361.3mil while under the Tekun Programme, payment has been made to 25,616 SMEs involving a total of RM194.2mil.

Meanwhile, the Penjana wage subsidy programme benefitted 2.62 million employees with wage subsidy assistance totalling RM10.41bil.

The wage subsidy programme is one of the government initiatives to assist the people affected by Covid-19.

For frontliners’ allowance, a total of RM267.4mil had been channelled as at Sept 4, based on 827,974 claims from doctors, nurses and other medical personnel who have been directly involved in the management and containment of the pandemic.

For taxi drivers, the government had channelled a one-off cash assistance to 33,377 cabbies totalling RM20mil, while a total of 7,622 tourist guides had received a one-off cash assistance amounting to RM4.6mil.

Under the Employees Provident Fund’s Covid-19 assistance programme (e-CAP) for employers, a total of 68,985 applications had been received as at Sept 4. Of these, 12,994 applications worth RM84.5mil had been approved for the employers’ EPF contribution. — Bernama

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