PETALING JAYA: A list of immediate measures has been put in place as part of efforts to ease cost pressures on small and medium enterprises (SMEs), Prime Minister Datuk Seri Anwar Ibrahim announced.
This includes a RM5bil financing guarantee under Syarikat Jaminan Pembiayaan Perniagaan (SJPP), a 12-month extension for e-invoicing transition and interim tax relief on re-imported Malaysian goods affected by global disruptions.
Anwar said under SJPP, the RM5bil in guarantee will be provided to support affected SMEs, particularly in construction, agriculture and agri-food, logistics and transportation, and tourism.
The scheme would offer financing coverage of up to 80% compared with the usual 70%, and guarantee periods extended to up to 10 years from the standard seven.
“SJPP will also work closely with banks to facilitate loan restructuring and rescheduling, as well as provide targeted repayment assistance,” he said in a statement.
The Prime Minister also announced an additional 12-month transition period for Phase 4 of e-invoicing implementation, now extended until Dec 31, 2027, for businesses with annual turnover of between RM1mil and RM5mil.
The government will also consider interim exemptions on import duty and sales tax for the re-importation of Malaysian-made goods that could not complete the export process.
“This measure will apply until Dec 31, while the government continues to assess the need to facilitate tax treatment for businesses affected by the Middle East conflict,” he said.
He said the government had been consistently engaging different segments of the SME community, including bumiputra, Chinese and Indian businesses, to ensure no group is left behind.
“Amid intensifying global pressures, we are acting without delay, guided by direct feedback from industry players to ensure that every measure truly reaches those in need,” the Prime Minister added.
Anwar said spillover effects from the Middle East conflict are increasingly impacting the global economy through energy supply disruptions and higher logistics and insurance costs.
He said these factors lead to sustained pressure on input prices faced by traders, manufacturers and farmers.
“Facing prolonged global headwinds, the government will continue to act proactively to ensure the business ecosystem remains resilient and adaptable,” said Anwar.
The Prime Minister said the nation must be prepared for gradual and prolonged changes, reiterating government’s commitment to strengthen national economic resilience while ensuring targeted assistance reaches those most in need.
