Share
KUALA LUMPUR (March 3): Malaysian Industrial Development Finance Bhd (MIDF) is offering financial relief to assist clients in dealing with the expected economic growth slowdown due to the COVID-19 outbreak.
In a statement yesterday, MIDF said the relief measures, undertaken via its development finance division, include deferment of monthly repayment, rescheduling and restructuring of financing as well as extension of due date on revolving facilities.
"MIDF’s relief measures are in line with the '2020 Economic Stimulus Package' that was introduced by the Government on Feb 27, 2020. All banks have been tasked to provide financial relief in the form of payment moratorium comprising restructuring and rescheduling loans for affected businesses. This will enable affected companies to have more flexibility in their cash-flow management," MIDF said.
MIDF development finance division head Azizi Mustafa said in the statement that since the COVID-19 outbreak earlier this year, the disease has already taken a toll on the Malaysian economy, especially on small and medium enterprises (SMEs) and the tourism sector.
"By introducing such measures, it is our hope to provide partial relief and financial support to companies, especially SMEs in badly affected sectors such as manufacturing, hotels, retails, transportation and services in addition to helping the economy rebound," Azizi said.
TOP PICKS BY EDGEPROP
Telok Panglima Garang Industrial Zone
Telok Panglima Garang, Selangor
Rawang Integrated Industrial Parks
Rawang, Selangor
Saffron Hills @ Denai Alam
Denai Alam, Selangor
Elmina Green Three @ City of Elmina
Sungai Buloh, Selangor
The Trillium @Lake Fields
Sungai Besi, Kuala Lumpur
Kawasan Industri Rawang Perdana
Rawang, Selangor
Jalan Chow Kit / Jalan Putra
KL City, Kuala Lumpur
Pandamaran Industrial Estate
Port Klang, Selangor
Jalan Klang Lama
Jalan Klang Lama (Old Klang Road), Kuala Lumpur
Kampung Baru Sungai Buloh
Sungai Buloh, Selangor
