Putrajaya says shielding SMEs from war fallout top priority, RM700m in financial help already given up to June

KUALA LUMPUR, June 29 — Bank Negara Malaysia had approved over RM700 million in relief financing up to June, Economy Minister Akmal Nasir Nasrullah told Parliament this morning, as he pledged to make protection of small and medium businesses from the global supply crisis a top priority.

The Johor Bahru MP said the fund from BNM’s SME Stabilisation Relief Facility had been extended to some 1,000 SMEs up to June 18. 

The central bank had poured RM5 billion into the relief facility that was set up to provide liquidity to firms impacted by the supply crunch.

“Affected SMEs received cash flow support through the BNM SME Stabilisation Relief Facility (SME SRF), totalling RM5 billion...more than RM4 billion remains available, indicating ample room for subsequent applications,” Akmal said during a special communication session in Parliament’s Lower House this morning.

In addition, financing support is also provided through Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP). 

“Until June 24, a total of 225 accounts have been approved with a total financing amount of RM157.52 million for the affected sectors, including agro-based, construction, logistics, transport, and tourism sectors,” the minister said.

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