KUALA LUMPUR, June 25 — Former finance minister Lim Guan Eng today urged the Perikatan Nasional administration to provide urgent financial help via an auto bank loan moratorium until the end of the year for all Malaysians except for the T20 category.
The Bagan MP said the targeted bank loan moratorium pursued by PN has clearly failed as not all loan applications were approved. Lim cited the finance minister’s remarks that as of June 11, there have been 669 applications, of which 331 applications were approved with total funding of RM65.9 million, meaning the approved applications are only slightly more than 10 per cent.
The DAP secretary-general added the current economic recession brought by the Covid-19 pandemic has hit the critical SME sector particularly hard. According to the bank’s report ‘Malaysia Economic Monitor: Weathering the Surge’, liquidity is a pressing problem as the median Malaysian firm has only two months of cash flow available, while the average Malaysian firm has 4.9 months cash flow available which is lower than Indonesia 9.5 months and Vietnam’s 5.9 months cash flow available.
Source: News Formal (newsformal.com)
like those PN ministers care.
Don't forget, we also need our kwsp withdrawal option again since we are going into further lockdown again since numbers are high, whats new isn't it. PN will fail us again.
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