SMEs: King’s call to focus on reviving economy timely

President Datuk Michael Kang said politicians should work closely with industries in their constituencies to kick start the economy.

The government needs to set up a business rescue scheme to determine which sectors were the hardest hit and which are the easiest to rescue. Small and Medium Enterprises Association Malaysia national secretary SH Yeoh concurred with Kang’s view, saying that the government should introduce another stimulus package for SMEs.“It is not enough. If the size of an average loan is RM500,000, only 20,000 companies will benefit, which is about 10% of the 200,000 SMEs in the country,” he said.

Almost impossible when 1) MOF money gone in just 2 months 2) Countries worldwide are fighting for themselves now 3) Malaysia Tax revenues is down substantially 4) Ringgit depreciate further 5) Political impasse and greenhorns

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