Association: Delay legal action against SMEs

The association’s national president Ding Hong Sing (pic) said it is important to have policy intervention in place to avoid the negative consequences for the real economy and financial markets.

PETALING JAYA: The SME Association of Malaysia has urged commercial banks not to take legal action against small and medium enterprises (SMEs) that failed to repay their loans, as they have been affected adversely by the Covid-19 pandemic, Bernama reported.

The association, which expressed support for Prime Minister Datuk Seri Ismail Sabri Yaakob’s call on commercial banks to spare hawkers and petty traders who failed to make repayments, said SMEs should be given a similar chance to allow them to recover and contribute positively to the real economy and financial markets.