moratorium extension

Members of the parliament from the government and opposition bloc have expressed support for the proposed extension of the loan moratarium period.

The tourism industry has crippled and unable to repay loans, many businesses and individuals would suffer and probably be declared bankrupt without a moratorium extension.

The borrowers must submit their applications as the moratorium process is no longer automatic as previously.

An extension of three months is given to those who had lost their job in 2020, which can be further extended on a case-by-case basis.

Anwar also urged the government to be transparent and accountable in ensuring that the benefits and measures announced really reach those who are in need.

Mohammad Tawfik said if the government does not pursue the targeted approach assistance, a chain reaction phenomenon would occur.

After three months, the moratorium period could be extended by the respective banks according to each individual's situation.

Prime Minister is scheduled to make an announcement on the moratorium extension and targeted approach assistance at 3 pm today.

Banks are anticipated to come up with their own decision on whether to extend the loan repayment moratorium or not once the moratorium ends in September, says analyst.

The government will listen to the views of all parties, especially Bank Negara Malaysia and the local banks.

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KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.

Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.