17 June 2021
On 31 May 2021, the Prime Minister of Malaysia announced “PROGRAM STRATEGIK MEMPERKASA RAKYAT DAN EKONOMI TAMBAHAN (PEMERKASA+)”, a RM40 billion financial aid package aimed at:
• increasing public healthcare capacity;
• continuing the public welfare agenda; and
• supporting business sustainability.
Amongst the various measures of PEMERKASA+ relevant to financial services are:
• A choice of a three-month loan moratorium or six months of 50% reduced loan repayments for those in the B40 (bottom 40% income) group, those who lost work and small-and-medium enterprises (“SMEs”) that cannot operate during the period of the Movement Control Order; and
• An additional RM2 billion as part of BNM’s Targeted Relief and Recovery Facility on top of the already available RM5 billion, which offers loans to small-andmedium enterprises at 3.5 % interest rate.
For further information, please contact:
Christina S.C. Kow, Partner, Shearn Delamore & Co
christina@shearndelamore.com
