Malaysian SME Association national president Datuk Michael Kang Hua Keong said that Bank Negara should disburse the SRF through a special purpose vehicle with collateral-free, government-guaranteed loans to SMEs to cushion the effect of Covid-19.
"For instance, those in tourism industry find it hard to get their SRF applications approved as banks felt that the industry would take some time to recover," he said. He said commercial banks will not help SMEs to sustain their businesses that would eventually lead to many companies ceasing operations and laying-off its employees.
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