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SKM offers moratorium facility

Pemerkasa: Facilities increased for SMEs and co-ops

With this addition the facility provided by Bank Negara for SMEs stands at RM6bil. A fund totalling RM200mil under the Malaysian Industrial Development Finance (MIDF) is available for financing the development of automation, digitalisation and the usage of green technology. MIDF will also lower their interest rates from 5% to 3% for a period of 12 months effective April 1,2021, he said. Apart from that, Muhyiddin added that an additional allocation of RM50mil for the Smart Automation Grant under Malaysian Investment Development Authority (Mida) will be provided to enable more SMEs and mid-tier companies to enhance operational and manufacturing efficiencies through high-tech processes.

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