Stimulus for Malaysian SMEs in the planning.

Many SMEs have been badly affected by the nationwide shutdown.

Alfred Lee 4 Apr, 2020

Stimulus for Malaysian SMEs in the planning.

Malaysia's Finance Ministry is currently in the midst of finalizing a special stimulus package for SMEs to facilitate the challenges many are facing since the nationwide shutdown.

The proposed package will be brought up to the cabinet next week, according to finance minister, Datuk Seri Tengku Zafrul Aziz.

“This additional package demonstrates that we are responsive to the problems faced by the SMEs. Therefore, MOF will propose to the cabinet and if the cabinet approves, the prime minister will make the announcement next week,”
Malaysia has been on a movement control order since 18th March.

Tengku Zafrul also said that the special stimulus package was drafted to take into consideration the entire spectrum of companies in Malaysia, including the needs of SMEs and micro enterprises.

It is estimated that over 480,000 SMEs across Malaysia have been affected by the nationwide movement control order announced last 3 weeks ago.

Alfred LeeAuthor

Journalist at BEAMSTART. I write about breaking business news in the region.

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