MSMEs Entrepreneur affected by floods can apply for a loan repayment deferment

6 December 2023

Oleh Wartawan Nabalu News

JOHOR BAHRU: Entrepreneurs from the Micro, Small, and Medium Enterprises (MSMEs) affected by floods can apply for a loan repayment deferment.

Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick stated that MSME entrepreneurs affected by floods can request a deferment of loan repayment for a minimum of three months.

He mentioned that the temporary deferment aims to assist affected MSME entrepreneurs in recovering their businesses that have been impacted by the floods.

"We have policies in place to allow borrowers under ministry agencies such as Tekun Nasional, Amanah Ikhtiar Malaysia (AIM), and the Malaysian Cooperative Commission (SKM) to temporarily defer repayment for up to three months if their business premises or operating locations are affected by floods.

"Therefore, I urge the agencies under the ministry that receive deferment requests from MSME entrepreneurs who have loans from the respective agencies to consider their applications," he said.

He said this during a visit to the Bank Rakyat Tower at Coronation Square.

Prior to that, Ewon received a briefing on the construction of the 35-storey Bank Rakyat Tower, which is nearing completion this year.

Coronation Square, covering an area of 2.3 hectares, is one of the development zones of the Ibrahim International Business District (IIBD) project.

He was also briefed on the Johor Bahru-Singapore Rapid Transit System (RTS) Link project. The RTS Link is a shuttle service spanning four kilometers between Woodlands North Station in Singapore and Bukit Chagar Station in Malaysia.

Also present were the Acting Chairman of Bank Rakyat, Datuk Mohd Irwan Mohd Mubarak, the Chief Executive Officer (CEO) of Bank Rakyat, Dr. Mohammad Hanis Osman, the Managing Director of Coronade Properties, Datuk Patrick Lim, and the President/CEO of UDA, Datuk Sr Mohd Salem Kailany.