KUALA LUMPUR (April 1): The Ministry of Domestic Trade and Consumer Affairs said today its permits for food and healthcare companies to operate during Malaysia’s Movement Control Order (MCO) has been extended to April 14 after the government decided to continue implementing the MCO to curb the Covid-19 pandemic.
KUALA LUMPUR: The second phase of the Movement Control Order (MCO), to start on April 1, will see stricter rules being enforced by the authorities, Defence Minister Datuk Seri Ismail Sabri Yaakob said today.
KUALA LUMPUR (March 25): Prime Minister Tan Sri Muhyiddin Yassin has announced a six-month postponement of loan repayment and restructuring of credit card balance and business loans following the COVID-19 outbreak involving at least RM100 billion.
KUALA LUMPUR: Banking customers, including individuals and small and medium sized enterprises (SMEs) will be allowed to delay the repayment of their existing loans, including mortgages and hire-purchases, for a period of six months.
This is part of the central bank’s new measures to assist borrowers experiencing temporary financial constraints due to the Covid-19 outbreak.
In a letter to the heads of financial institutions today, Bank Negara said the automatic moratorium will be effective from April 1.
“Banking institutions should provide individuals and SME borrowers with adequate information on how the suspended loan/financing repayments/payments will be treated during the moratorium period,” the central bank said.
The automatic moratorium is applicable to ringgit-denominated loans or financing that are not in arrears exceeding 90 days as at April 1, 2020.
The moratorium does not apply to credit card balances.
For outstanding credit card balances, Bank Negara said customers should be offered the option to convert the outstanding balances into term-loan of not more than three years.
“For corporate borrowers, banking institutions are strongly encouraged to facilitate requests for a moratorium,” the letter stated.
KUALA LUMPUR: Malaysian real estate investment trusts (MREIT) are expected to report a steep 14% decline in earnings per unit in 2020 due to the challenges posed by Covid-19, says Affin Hwang Capital research.
“We are cutting the MREITs’ FY20-22E EPU by 3-14%,” it said in a Monday report.