Businesses hit hard if loan repayments start

Kota Kinabalu: Liberal Democratic Party (LDP) Central Youth Movement leader Sim Fui (pic) urged trade and business associations in the country to band together to lobby for an extension in loan repayment moratorium in effort to ease the financial pressure of small and medium enterprises (SMEs) amid the Covid-19 pandemic.

He said the government has introduced a six-month moratorium on loan repayment from April 1 to September 30.

However, he said the recent spike in Covid-19 cases has resulted in the implementation of the Conditional Movement Control Order (CMCO) where businesses were forced to suspend their operations again.

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