Ministry announces 6-month loan repayment moratorium for co-ops
3 month ago, 26-Mar-2020
Datuk Seri Wan Junaidi Tuanku Jaafar
KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives (MEDAC) has announced a six-month moratorium on loan repayments from April to September 2020.
Minister Datuk Seri Dr.Wan Junaidi Tuanku Jaafar said in a statement that the government throughMEDAC is very concerned about the impact of the spread of Covid-19 on the business activities of the14,628 cooperatives in Malaysia.
The impact on their activities is also affecting the welfare of some 6.05 million cooperative members nationwide.
In the effort to ease the burden ofaffected cooperatives, MEDAC has announced a moratorium on loan repayments by cooperatives to the Cooperative Development Revolving Fund (TMP-JPK) under the Companies Commission of Malaysia (CCM), he said, adding the moratorium is estimated to involve aboutRM99 million.
Cooperatives may apply to CCM via email to firstname.lastname@example.org, or contact 012-3302444. – Bernama
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