Malaysia Covid-19 BNM Measures to Assist Individuals, SMEs and Corporates Affected by COVID-19

BNM Measures to Assist Individuals, SMEs and Corporates Affected by COVID-19
Loan/Financing Deferment Measure
 

Loan/Financing Deferment Measure 

Penang has started rolling out aid as promised under the Penang Aid Package or PEKA Penang, which was unveiled last Wednesday.

Chief Minister Chow Kon Yeow said, beginning today, as many of 4,700 Penang Island and Seberang Prai City Councils' front line workers would receive the RM300 each promised to them.

He said that as for the frontline workers from the federal agencies, the allocation had been channelled to the respective departments and the payment would be handled by the relevant parties themselves.

“It is my promise that PEKA Penang will be channelled as soon as possible to all target groups this month.

“The state government will always be with you during this challenging times," he said in his daily Facebook live address to the people of Penang.

Chow also said that today, all recipients of the state AES (Agenda Ekonomi Saksama), numbering 551 individuals from the hardcore poor families, would be receiving RM500 each in their respective bank accounts.

“For those who receive aid from the Welfare Department, the financial aid will be channelled in a day or two.

“Additionally, the RM500 aid for taxi drivers and RM300 for e-hailing drivers will also be given out today," he added.

On Wednesday, the Penang government announced an additional RM55 million to its RM20 million PEKA Penang, bringing it to a total of RM75 million, to counter the Cover-19 pandemic.

The package, which comprises three main objectives and 16 initiatives, is set to benefit various segments of society particularly the frontline workers, individuals and businesses impacted by the Movement Control Order (MCO) which has been extended until April 14.

It is also aimed at providing immediate financial aid to the most vulnerable groups such as hawkers, petty traders, taxi drivers, trishaw riders, e-hailing providers, the disabled community and the B40 group.

Under PEKA Penang, tenants of state government public housing as well as state-owned business premises are not required to pay rent for this month.

For tenants of public housing under the state government rent-purchase scheme and borrowers under the Skim Pinjaman Harapan, Tabung Usahawan Tani and Pinjaman Penuntut, they are allowed to delay their payments for three months beginning this month.

Also, each state assembly member has been allocated an emergency fund of RM30,000 for his or her respective constituencies. This fund shall be fully utilised to help those who are in need.

Meanwhile, Chow said that on the part of the Penang Development Corporation (PDC), which is the main development agency of the state government, several initiatives have been decided which include:

• the postponement of payment for land purchase, industrial land and industrial buildings to June 30, 2020;

• the validity date of acceptance of offer for industrial land and non-industrial land as well as building sale/lease is extended until June 30, 2020;

• the waiver of one month rent for the month for this month for the following PDC projects — Bukit Tengah stalls (24 units) and stalls/kiosks at Komtar, Batu Kawan Stadium, the multi-storey carpark near Penang Hill lower station and Lorong Kulit;

• the postponement of rent payment for this month for local SMIs, commercial units at The One Bayan Baru, Jalan Burmah business premises, Burmah Square and Jalan Kedah Complex. The postponed rent payment is allowed to be repaid in a scheduled six-month period and has to be settled by this year;

• the waiver of two-month rent for this month and next month for resettlement housing and cluster homes at Lebuh Cecil and Weld Quay as well as Taman Crescentia in Batu Kawan; and

• the waiver of one-month land rent for this month for Persatuan Kebajikan Anak Muda Balik Pulau for its food truck.

“In providing assistance to the state government’s various initiatives, PDC is now in the process of preparing the application procedure for the Penang Business Continuity Zero Interest Loan.

“I hope to be able to announce its details in a day or two.

“Furthermore, in fulfilling its social responsibility, PDC has also pledged RM1 million towards the Penang Covid-19 Fund to help combat the pandemic and to support the various related initiatives," Chow added.

Responding to question from newsmen, Chow said there was no need for PEKA Penang to be tabled and approved by the state legislative assembly.

“This is because PEKA Penang will be funded through the existing allocation," he said.

He also said that there was no necessity for Penang to review its 2020 Budget for now due to the impact of Covid-19.

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