Entrepreneurs affected by disasters can request to defer loan repayments

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

Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick said the deferral of loans under his ministry such as Tekun Nasional (National Entrepreneurial Group Economic Fund), Amanah Ikhtiar Malaysia, and the Malaysian Cooperative Commission was an important step to help entrepreneurs recover their affected businesses.

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

“I ask agencies under this ministry that if any applications are received from these MSME entrepreneurs, then examine and consider their applications.”

Prior to this, the Malaysian Meteorological Department (MetMalaysia) had forecast that the Northeast Monsoon (MTL) or monsoon season in the country would be from Nov 11, 2023 to March 2024.

In the early phase of the MTL, heavy rain was predicted in Kelantan, Terengganu, Pahang, Johor and in western Sarawak.

Yesterday, Bernama reported that the total number of flood victims in Kelantan had risen to 4,530 people from 1,462 families as of 8 am today, compared to 4,398 people from 1,405 families last night, and all victims are being housed in 12 temporary relief centres (PPS) in the Pasir Mas and Tanah Merah districts.

Earlier, Ewon was briefed on the construction of the Bank Rakyat Tower, which involves the RM6 billion integrated development in Coronation Square.

The 35-storey Menara Bank Rakyat is the first of the eight towers to be fully completed this year and is expected to start operations in February next year.

Coronation Square, which sits on ​​2.3 hectares of land, is the lead project of the Ibrahim International Business District (IIBD) Project Development Zones, in Johor Bahru.–Bernama