Agencies Under KUSKOP Offer Moratorium, Assistance For Flood-hit Entrepreneurs

Agencies under the Entrepreneur Development and Cooperatives Ministry (KUSKOP) are offering assistance and moratorium to ease the burdens faced by entrepreneurs affected by floods in northern Peninsular Malaysia. In a statement today, the ministry said that TEKUN Nasional is offering a moratorium of up to six months for entrepreneurs struggling to repay their loans due to flood-related challenges. 'Affected entrepreneurs are also allowed to withdraw funds from their financing accounts and reschedule their repayment,' it said. According to KUSKOP, TEKUN entrepreneurs experiencing damage to their business premises and inventory can apply for overlapping financing to help restart their businesses. 'To date, 98 TEKUN entrepreneurs in Penang, Kedah and Perlis have been identified as affected by the flood disaster, with estimated losses amounting to RM383,000,' the statement added. In addition, Bank Rakyat is offering a moratorium facility of up to six months for products such as Personal Financing-i, Home Fin ancing-i, Vehicle Financing-i, Vehicle Hire Purchase-i, Pawnbroking-i, Education Financing-i and Micro Financing-i. KUSKOP further said that Perbadanan Nasional Bhd (PERNAS) is offering a moratorium of three to six months, subject to management approval. Another agency, the Malaysia Cooperative Societies Commission (SKM), will provide food baskets in Kedah and Melaka worth RM40,000, which will be distributed soon. The ministry advised affected entrepreneurs to contact the nearest agency branch office for further information on available initiatives. Source: BERNAMA News Agency