Are SMEs Getting Viable Support From Gov?

I must applaud YAB Prime Minister brave effort in rolling out the RM 250 billion stimulus package to the Rakyat. As I can see the entire package “rakyat” centric. Those who are jobless and those who got layoff temporarily and those who are going to be jobless will no doubt benefits from the stimulus packages.

However the stimulus package doesn’t seem to benefit the business owner much with the exception of 6-month moratorium payment of HRDF levy and deferment of 3 months tax installments. While many other forms of relief loan is available for the businesses to apply, however there way I look at it, it will take some time before the businesses eventually get their hand on these relief loan monies.

The bigger question now, why did the government did not address the millions of salary payment that will be due in few days times?

Why the government did not assemble a government led task force to speak to mall owners or land lords to suspend rental payment for shop owner/operator/manufacturer?

Why the bank only offer moratorium payment to SME businesses and not to large businesses as they are still operating as SME? There are many confusion in the over arches of the policy implementation. While Bank Negara said the moratorium applies to all businesses, a fast check with some bank only yielded it’s for SME. Isn’t a F&B retailers that is operating with RM15mil revenue per year is still an SME althought it has 100 staff? But according to certain bank standards they are classified as commercial business and no longer fall under SME (I stand to be corrected for this paragraph).

Hence the government must do more in addressing the business plight? Come 15 April to 30 April when people began to go back to work, I guess instead of starting work what they will get is retrenchment letter. As I write many businesses is planning this and perhaps if they are drag to labour court, perhaps in their mind they will think settle later, survive now.
Before it’s too late I urge the Malaysia Government to relook and help the businesses immediately.

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