Kuala Lumpur, April 20 -- The Malaysian government has announced a series of financial support measures for micro, small and medium-sized enterprises (MSMEs) as the economy faces impacts from the ongoing conflict in the Middle East.
Prime Minister Anwar Ibrahim said on April 20 that a key measure is a 5 billion MYR guarantee package (1.27 billion USD) under the Syarikat Jaminan Pembiayaan Perniagaan (SJPP) scheme. The financial guarantee ratio for businesses will be raised to 80% from the previous 70%, while the guarantee period will be extended to up to 10 years instead of seven years.
The package is expected to support businesses operating in affected sectors such as construction, agriculture and agro-food, logistics, transport, ...