KUALA LUMPUR, Dec 18 — The Ministry of Entrepreneur Development and Cooperatives (MEDAC) supports the call for the banking sector to continue assisting borrowers particularly Micro, Small and Medium Enterprises (MSMEs) as well as cooperatives facing financial difficulties.
Minister Tan Sri Noh Omar said the efforts are in line with new MEDAC policies so that agencies which provide financing to entrepreneurs do not take legal action against defaulting borrowers.
The agencies include TEKUN Nasional, Bank Rakyat, SME Bank, SME Corp Malaysia, Perbadanan Usahawan Nasional Bhd (PUNB), Amanah Ikhtiar Malaysia (AIM), and Perbadanan Nasional Bhd (Pernas), he said.
“At the same time, applications for government funding are further facilitated by not applying CTOS (Credit Tip Off Service Sdn Bhd) and CCRIS (Central Credit Reference Information System) filters.
“This is also an initiative in helping entrepreneurs affected during the recovery period of COVID-19,” he said in a statement.
Meanwhile, Noh said during the 100 days achievement period, MEDAC had assisted some 220,248 entrepreneurs who were impacted during the pandemic, involving total costs of RM7.172 billion.
The ministry, he said, would continue to help MSMEs and cooperatives not only through funding but also in terms of new business opportunities, digitalisation, entrepreneurial training and also engagements with associations and organisations.
“In line with the Malaysian Family Aspirations, that is, ‘Working with the People’, it is hopeful the help and initiatives can provide a slight reprieve to those in need,” he added.
