Floods: GLICs and GLCs to contribute RM50.8mil for recovery efforts, says PM

KUALA LUMPUR: Government-linked investment companies (GLICs) and government-linked companies (GLCs) have agreed to contribute RM50.8mil to assist efforts in post-flood recovery, says Prime Minister Datuk Seri Ismail Sabri Yaakob (pic).

He said the contributions increased by 100% compared with RM25mil announced on Sunday (Dec 19).

"The GLICs and GLCs which contributed included Petronas, Yayasan Petronas, Khazanah Nasional and Yayasan Hasanah, Yayasan Sime Darby, CIMB, Celcom, Telekom Malaysia, Yayasan UEM and Employees Provident Fund (EPF)," said Ismail Sabri.

"With the government’s grant of RM25mil, the total fund to deal with flood impact and post-flood recovery has risen to RM75.8mil,” he said in a statement after chairing a special National Disaster Coordination Meeting on Monday (Dec 20).

Ismail Sabri said to assist entrepreneurs affected by floods, the meeting also decided to provide financing of up to RM5,000 through Bank Simpanan Nasional (BSN).

The Prime Minister said the interest-free or non-profit financing is with repayment starting six months after the financing agreement was signed.

Apart from that, he said the government also agreed to give a two-month rent waiver to tenants of SME Bank’s Entrepreneur Premises Complex which were affected by floods.

"The government through SME Bank will also facilitate loan restructuring applications for those affected by floods. The government is also allocating RM30mil to the Flood Recovery Loan through TEKUN Nasional,” he said.

Ismail Sabri said the special meeting also decided that cooperatives affected by floods would be assisted via the Malaysian Cooperatives Commission Emergency Relief Fund of up to RM30,000.

He said apart from that, the government is also allocating RM100mil for post-flood recovery activities to repair houses and damaged infrastructure.

He also said Bantuan Wang Ihsan of RM1,000 will be given to every head of households affected by floods regardless of whether they were relocated to relief centres (PPS) or not.

Ismail Sabri said in confronting the flood disaster, the meeting also decided that the National Security Council (NSC) will issue a directive to all parties on the actions which need to be taken immediately.

"The National Disaster Management Agency (Nadma) will be the main disaster management secretariat to handle all coordination and if actions were not complied with, the NSC will issue further orders,” he said. - Bernama