Samenta: Extend Moratorium for Three Months for SMEs

SAMENTA Central Chairman Datuk WIlliam Ng urged the authorities to extend the moratorium for SMEs for another three months, particularly for those hit by the flood after the pandemic.

“Our initial estimate is that between 12,000 to 18,000 SMEs are affected by the floods. We urge the government to take the step further by announcing a 3-months interest-free moratorium on repayment of loans for affected SMEs.

“3. We also urge the government and police to ensure the reported looting of shops and warehouses are not repeated. We also appeal to insurance companies to process any claim expeditiously, so that we can recover from the floods as soon as possible,” he says in a media statement.

He says many members have reported severe damage to vehicles, machinery and stocks, some running into millions of ringgit.

“This disaster has happened at a difficult time for businesses – when our SMEs are only getting back on their feet after the long lockdowns. SAMENTA’s Task Force for the Klang Valley Floods have been activated, and we are delivering supplies to affected households.

“SME owners who have faced damages are encouraged to make a police report and send us a copy at central@samenta.org.my so that we can assist in co-ordinating assistance from the various agencies,” he says.