KUALA LUMPUR, Dec 21 (Bernama) — In the aftermath of the most devastating flood disaster in Malaysian history, Nitesh Malani, Chairman of Yayasan Usahawan Malaysia and founder of the SME and Entrepreneurs Business Awards (SEBA), urges the government to provide a moratorium on bank loan repayment for SMEs to ease the burden of these businesses in their recovery period.
After a lengthy period of business shutdown and financial constraints due to the COVID-19 pandemic, businesses are beginning to recover, only to be struck by another tragedy. The flood has impacted an estimated of up to 18,000 SMEs and entrepreneurs, with the majority reporting significant damage to cars, machinery, and inventories, many of which cost millions of ringgit.