KUSKOP ROLLS OUT SUPPORT FOR FLOOD-HIT ENTREPRENEURS, COOPERATIVES

PUTRAJAYA, Dec 2 (Bernama) -- The Entrepreneur and Cooperatives Development Ministry (KUSKOP), through its agencies, is intensifying efforts to assist entrepreneurs and cooperatives affected by the recent floods, including providing relief measures such as moratoriums to ease financial burdens.

In a statement today, KUSKOP said that Bank Rakyat is offering moratoriums of up to six months for both individual and business customers affected by the floods. The moratorium applies to various financing products, including Personal-i, Housing-i, Vehicle-i, Hire Purchase-i, Pawn-i, Education-i, Micro-i and Credit Card-i.

"In addition, Bank Rakyat has contributed essential items worth RM40,000 to flood victims at temporary relief centres," KUSKOP said.

Meanwhile, TEKUN Nasional has introduced four flood assistance initiatives, comprising a three-month moratorium, loan rescheduling, savings withdrawal facilities for entrepreneurs and capital injection options, to help restore affected business operations.

To broaden support for various categories of entrepreneurs, SME Corp Malaysia has activated the KUSKOP Emergency Fund, targeting small and medium-sized enterprises (SMEs), informal businesses and individuals impacted by the floods.

This includes up to RM5,000 for repairs to business premises, machinery or equipment, as well as grants of up to RM5,000 for small and micro businesses facing a decline in sales.

Welfare assistance is also available for affected households, including B40 groups and persons with disabilities (PwD), with cash aid of up to RM500, along with disaster relief grants of the same amount.

KUSKOP also noted that Amanah Ikhtiar Malaysia (AIM) had approved moratoriums worth RM3.48 million for 13,189 AIM entrepreneurs as of Nov 27, helping to stabilise cash flow during the post-flood recovery period.

"SME Bank is offering financing through the Relief and Adaptation Facility, with loans ranging from RM100,000 to RM1 million to help SMEs manage cash flow and adjust operations after the disaster," KUSKOP added.

The Co-operative Societies Commission of Malaysia (SKM) has launched two emergency assistance schemes, namely the Co-operative Emergency Relief Fund (up to RM3,000) and the Co-operative Emergency Assistance Fund (up to RM30,000) to help cooperatives resume their business activities.

Additionally, Perbadanan Nasional Bhd has distributed 100 food baskets, valued at RM100 each, as initial aid to affected entrepreneurs and their families.

“The ministry hopes these initiatives will speed up recovery for entrepreneurs, SMEs and cooperatives, ensuring the continuity of economic activities post-disaster. Affected individuals are urged to contact KUSKOP agencies for more information,” it said.

-- BERNAMA