News by THEEDGEMARKETS.COM

"The power vested in a chairman is guided by the constitution. I will use the constitutional platform. I'm not a person who ignores the constitution or the law for my own personal gain. We will follow the constitution (for the next course of action)."

Under this programme, dubbed the SME Go-Scheme, Prime Minister Tan Sri Muhyiddin Yassin announced that SME Bank will provide financing support to contractors and vendors who were awarded small Government projects under the Economic Stimulus Package 2020 and the PRIHATIN stimulus package.

Prime Minister Tan Sri Muhyiddin Yassin: To aid the tourism sector, an RM1 billion Penjana Tourism Financing (PTF) facility will be made available to finance transformation initiatives by SMEs in the tourism sector to enable them to remain viable and competitive in the new normal. Details of this fund will be announced by Bank Negara Malaysia (BNM) in July 2020.

The financing facility will be made available in mid-June 2020 with a maximum loan size of RM500,000 per SME.

The new rates are applicable for purchases made from June 15, 2020 to Dec 31, 2020

Under the wage subsidy programme, eligible employers may receive a subsidy of RM600 per employee. 

The latest contract brings Econpile’s orderbook to RM780 million, which will keep it busy for the next two years.

One new death was reported, bringing Malaysia's Covid-19 death toll to 116.

In a statement today, Bersatu secretary-general Datuk Seri Hamzah Zainuddin said the Supreme Council has recognised Tan Sri Muhyiddin Yassin as acting chairman in accordance with Clause 16.9 of the party constitution, following the resignation of Mahathir as chairman on Feb 24.

Health director-general Datuk Dr Noor Hisham Abdullah: We have done the screening, but maybe one or two of them were probably still in the incubation period. So they tested negative. And then when we place them in the immigration detention depots, they become positive and start to infect other detainees.