Flood-hit entrepreneurs can request to defer loan repayments

 

Entrepreneur development and cooperatives minister Ewon Benedick said the deferral of loans is aimed at helping entrepreneurs whose businesses were affected by the floods. (Bernama pic)

JOHOR BAHRU: Entrepreneurs of micro, small and medium-sized enterprises (MSMEs) affected by disasters nationwide can apply to defer their loan repayments for up to three months.

Entrepreneur development and cooperatives minister Ewon Benedick said the deferral of loans under bodies such as Tekun Nasional, Amanah Ikhtiar Malaysia, and the Malaysian Cooperative Commission was aimed at helping entrepreneurs to get back on their feet.

“We have a policy to allow deferrals of repayments of up to three months if their business premises or places of operation are affected by floods,” he told reporters during a working visit to the Bank Rakyat Tower in Coronation Square here.

Prior to this, the meteorological department had forecast that the northeast monsoon in the country would be from Nov 11, 2023 to March 2024.

Heavy rain has been predicted in Kelantan, Terengganu, Pahang, Johor and in western Sarawak. - FMT