KUALA LUMPUR, June 29 — Bank Negara Malaysia had approved over RM700 million in relief financing up to June, Economy Minister Akmal Nasir Nasrullah told Parliament this morning, as he pledged to make protection of small and medium businesses from the global supply crisis a top priority.
The Johor Bahru MP said the fund from BNM’s SME Stabilisation Relief Facility had been extended to some 1,000 SMEs up to June 18.
The central bank had poured RM5 billion into the relief facility that was set up to provide liquidity to firms impacted by the supply crunch.
“Affected SMEs received cash flow support through the BNM SME Stabilisation Relief Facility (SME SRF), totalling RM5 billion...more than RM4 billion remains available, indicating ample room for subsequent applications,” Akmal said during a special communication session in Parliament’s Lower House this morning.
In addition, financing support is also provided through Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP).
“Until June 24, a total of 225 accounts have been approved with a total financing amount of RM157.52 million for the affected sectors, including agro-based, construction, logistics, transport, and tourism sectors,” the minister said.
Other support measures include a 20 to 50 per cent discount on rental rates for business premises owned by the government and government agencies for eligible small traders and hawkers. Akmal said most states and local authorities have also answered this call.
Meanwhile, the logistics and land transport sectors are supported through quota improvements under the Subsidised Diesel Control System (SKDS). Putrajaya said the new system will help curb leakages without disrupting the stability of the domestic supply chain.
The US-Israeli assault on Iran and Lebanon has pushed Tehran to shut down the Strait of Hormuz, where a fifth of the world’s oil and other supplies pass through, causing severe disruption that analysts estimate could take months if not years to fix.
Domestically, the supply chokehold is putting pressure on various sectors, particularly logistics, aviation, shipping, agriculture, manufacturing, construction, and trade, Akmal said.
The government’s interventions to date have focused on four goals: ensuring supply, extending supply, curbing price increases, and “leveraging opportunities”.
Akmal said the administration’s focus is protecting the people, stabilising supply and prices, supporting MSMEs and industries, and building medium- and long-term economic resilience.
