Wednesday, July 15, 2020
Malaysia has extended the existing conditional movement control order (CMCO) for another 4 weeks to June 9. Prime Minister Tan Sri Muhyiddin Yassin announced this in his special address Sunday. He pointed out that despite achieving several positive results throughout the movement control order (MCO) imposed since...
Malaysia's Prime Minister Tan Sri Muhyiddin Yassin has just announced an extension to Malaysia's CMCO. This new phase of enforced movement control will now last until 9 June. Throughout the current phase of the CMCO period, up to 43 percent of Malaysia' workforce (approximately 6.64 million workers) have returned to...
More than half of the country’s SMEs will either downsize or restructure their businesses when the movement control order (MCO) is lifted. A recent survey by the SME Association of Malaysia found that 23% of SMEs would downsize their businesses after the MCO while 28% said they...
A recent poll showed that companies in Malaysia are most worried about paying salaries of their workers and having no customers. Many of the companies also reported that that were forced to use their reserves for operational costs during the Movement Control Order (MCO). This was the...
The government wants small and medium enterprises (SMEs) to be more radical in enhancing their digital technology skills to be on par with their peers in developed countries. Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed made the call after finding there are SMEs that do...
AmBank and Maxis have introduced SME-in-a-Box, a one-stop solution offering comprehensive and simple financing and digital solutions for small and medium enterprises (SMEs) that leverages the potential of e-commerce. SME-in-a-Box comes with services to help SMEs that do not have an e-commerce platform to launch one quickly.“We...
In order to get the economy going once more, Malaysia has allowed almost all sectors to reopen, starting on 4 May; albeit with strict adherence to certain conditions. This is part of the country’s phased approach to lifting the Movement Control Order (MCO), which began on 18 March. Prime Minister...
Loans totalling RM3 billion have been approved for 6,840 small and medium enterprises (SMEs) under the government’s easy financing scheme until May 5. The amount was an increase from RM1.5 billion extended to 3,363 SMEs until April 26. Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the majority of...
Bank Negara slashes interest rates by 50bp – lowest since 2010At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) by 50 basis points to 2.00 percent. The ceiling and floor rates of the corridor of...
Malaysia will soon allow small enterprises to resume operations soon amid a Movement Control Order due to the COVID-19 pandemic. Senior Minister Datuk Seri Ismail Sabri Yaakob said, in announcing this, however did not divulge more details, saying that an announcement would be made in due time....
RHB Banking Group has approved over RM500 million Special Relief Facility (SRF) applications to more than 700 Small Medium Enterprises (SMEs), to help alleviate the short-term cash flow difficulties faced by them arising from the COVID-19 pandemic. It said the SRF is part of Bank Negara Malaysia’s Fund for SMEs...
The government has subsidised about 30 per cent of salary payments for small and medium entrepreneurs (SMEs) during the Movement Control Order (MCO) to avoid retrenchment and reduce the number of people retrenched.Neil Foo, the Malaysian representative of the Asia-Pacific Economic Cooperation Small and Medium Enterprise Forum...

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