KUALA LUMPUR: Bank Negara Malaysia (BNM) has announced an additional allocation of RM2 billion for the Targeted Relief and Recovery Facility (TRRF), as well as the establishment of a RM200 million Disaster Relief Facility (DRF) 2021.
Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.
1. BNM allocates an extra RM2 billion for the Targeted Relief and Recovery Facility, and sets up a RM200 million facility for disaster relief.
2. Ratings agency MARC cuts its 2021 economic growth forecast for Malaysia to 5.6% and maintains its 2020 forecast at -5.7%.
3. Mara Inc ex-chairman Datuk Mohammad Lan Allani pleads not guilty to 22 counts of bribery and money laundering of RM20.45 million.
4. Petronas reportedly warns a delay in the completion of its 25%-owned LNG Canada s LNG project could be costly.
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Bank Negara Malaysia (BNM) has announced an additional allocation of RM2 billion for the Targeted Relief and Recovery Facility (TRRF), as well as the establishment of a RM200 million Disaster Relief Facility (DRF) 2021
KUCHING (Feb 3): Sarawak has announced an additional allocation of RM141.7 million for small and medium enterprises (SMEs) affected by Covid-19, under the Bantuan Khas Sarawakku Sayang (BKSS 5.0).
Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said the additional assistance expected to benefit over 10,000 entrepreneurs in the State, would go towards the existing programmes.
He said under this initiative, an additional RM50 million was for the Sarawak Micro Credit Scheme (SKMS) which provides loans to entrepreneurs.
To facilitate SKMS loan application, he said applicants only need to submit a business permit issued by the municipal council or other local authorities.
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On Monday, December 21, Congress enacted a $900 billion stimulus package to support American workers and businesses impacted by COVID-19. This summary provides an overview of the business and tax relief measures contained in the stimulus package.
BUSINESS RELIEF
Restarting and Expanding the Program
$284 billion in funds to restart the program and enable borrowers to seek first or second loans, subject to new eligibility restrictions:
Targeted at very small businesses, the new PPP money includes dedicated funds for borrowers with 10 or fewer employees and for applicants that are newly available for a first round loan, including 501(c)(6) organizations and local newspaper, TV, and radio broadcasters.