BNM sets aside extra RM2b for Targeted Relief and Recovery Facility, sets up RM200m Disaster Relief Facility 2021

TheEdge Fri, Feb 05, 2021 10:56am - 3 years View Original


BNM sets aside extra RM2b for Targeted Relief and Recovery Facility, sets up RM200m Disaster Relief Facility 2021

 

Appendix 1: Targeted Relief and Recover Facility (TRRF)        



Features

Details

Objective

Provide relief and support recovery for SMEs in the services sector affected by reintroduction of containment measures since June 2020, except tourism and tourism-related subsectors

Allocation

RM4 billion

Eligibility 

SMEs* in services sector affected by reintroduction of COVID-19 containment measures since June 2020 (except for tourism and tourism-related subsectors), such as: 

  • Personal services (e.g. repair of computers / household goods, laundry, hairdressing, beauty)

  • Food and beverage service activities

  • Human health and social work activities

  • Arts, entertainment and recreation

  • Wholesale and retail trade

  • Business services (e.g. professional, scientific and technical activities; administrative and support service activities)

Note: Recipients of the Special Relief Fund and PENJANA SME Financing are eligible for the TRRF up to an aggregate limit of RM500,000 per SME 

Purpose of financing

Working capital only

Financing size 

  • Up to RM500,000 per SME; and

  • Up to RM75,000 per micro enterprise.

Note: The above is applicable for SMEs with common shareholder(s) of  > 20% shareholding

Financing rate to SMEs

Up to 3.50% per annum, inclusive of guarantee fee

Tenure

Up to 7 years, with a moratorium on monthly instalments of at least 6 months

Guarantee coverage

  • SMEs: 80% (0.5% p.a. guarantee fee);

  • Optional for participating financial institutions – Micro enterprises: 90% (0.5% p.a. guarantee fee).

Participating financial institutions can obtain guarantee coverage from the Credit Guarantee Corporation Malaysia Berhad (CGC) / Syarikat Jaminan Pembiayaan Perniagaan (SJPP)

Application procedure

Interested SMEs may apply for the TRRF at participating financial institutions which comprise:

  1. Affin Bank Berhad / Affin Islamic Bank Berhad 

  2. Alliance Bank Malaysia Berhad / Alliance Islamic Bank Berhad 

  3. AmBank (M) Berhad / AmBank Islamic Berhad 

  4. Bangkok Bank Berhad 

  5. Bank Islam Malaysia Berhad 

  6. Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat) 

  7. Bank Muamalat Malaysia Berhad 

  8. Bank of China (Malaysia) Berhad 

  9. Bank Pertanian Malaysia Berhad (Agrobank)

  10. Bank Simpanan Nasional 

  11. CIMB Bank Berhad / CIMB Islamic Bank Berhad

  12. HSBC Bank Malaysia Berhad / HSBC Amanah Malaysia Berhad

  13. Hong Leong Bank Berhad / Hong Leong Islamic Bank Berhad

  14. Malayan Banking Berhad / Maybank Islamic Berhad

  15. MBSB Bank Berhad

  16. OCBC Bank (Malaysia) Berhad / OCBC Al-Amin Bank Berhad 

  17. Public Bank Berhad / Public Islamic Bank Berhad 

  18. RHB Bank Berhad / RHB Islamic Bank Berhad 

  19. Small Medium Enterprise Development Bank Berhad (SME Bank)

  20. Standard Chartered Bank Malaysia Berhad 

  21. United Overseas Bank (Malaysia) Berhad

Availability

Until 31 December 2021 or full utilisation (whichever is earlier)

*At least 51% shares held by Malaysians and as defined by SME Corp’s Guidelines on        

 National SME Definition accessible at:

 https://www.smecorp.gov.my/images/pdf/2020/Guideline-SMEDefinition_updated.pdf

 

Appendix 2: Disaster Relief Facility 2021



Features

Details

Objective

To alleviate the financial burden of SMEs affected by floods and enable them to resume their business operations

Allocation

RM200 million

Eligibility criteria

Microenterprises and SMEs* affected by floods located in districts identified by Agensi Pengurusan Bencana Negara as flood disaster areas

Purpose of financing

  • Repairs and/or replacement of assets for business use (e.g. plants and machinery) which have been damaged by natural disasters; and/or

  • Working capital.

Note: Financing should not be used for refinancing of existing credit/financing facilities

Financing size 

  • Up to RM500,000 per SME; and

  • Up to RM75,000 per micro enterprise.

Financing rate to SMEs

The maximum effective financing rate is up to 3.50% per annum, inclusive of guarantee fee

Tenure

Up to 5 years, including a moratorium period of 6 months on both principal and interest payments. 

Guarantee coverage

  • 80% guarantee cover at 0.5% p.a. guarantee fee.

  • Participating financial institutions can obtain guarantee coverage from the Credit Guarantee Corporation Malaysia Berhad (CGC) for this Facility

Application procedure

Affected businesses can apply for financing from participating financial institutions comprising commercial banks, Islamic banks and development financial institutions regulated by BNM.

Availability

Until 31 July 2021 or full utilisation (whichever is earlier)

*At least 51% shares held by Malaysians and as defined by SME Corp’s Guidelines on 

 National SME Definition accessible at: 

 https://www.smecorp.gov.my/images/pdf/2020/Guideline-SMEDefinition_updated.pdf

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

AFFIN 2.460
AMBANK 4.170
CIMB 6.550
MAYBANK 9.650
MBSB 0.795

Comments

Login to comment.