KUALA LUMPUR – The government has approved 4,937 loan applications from small and medium enterprises worth RM1.033 billion to support businesses under the Penjana SME Financing Scheme up till November 13.
Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said there have been 478 applications from SMEs for the Penjana Tourism Financing Scheme, which offers a financing rate of 3.5% to assist tourism players in terms of working capital and capital expenditure, for a financing period of up to seven years.
“Of this amount, a total of 208 applications have been approved, with a total financing of RM41.8 million,” he said when presenting the 30th Laksana report on the implementation of the Prihatin and Penjana stimulus packages, broadcast live today.
On the Tekun Business Recovery Scheme, he said a total of RM86.7 million has been channelled to 113,042 micro businesses as of November 13.
He said RM197.7 million has been given to 5,570 such businesses in the retail and services sectors through the Penjana Micro-Credit Financing Scheme under Bank Simpanan Nasional as of November 3.
To stimulate growth in the agriculture and food sectors, he said, the government has disbursed RM45.2 million in revolving capital injections to 4,953 agricultural SMEs under the Agrobank Micro-Credit Financing Scheme.
Putrajaya has also extended the service tax exemption for lodging services until June 30 next year, for the benefit of the tourism sector.
“As of November 13, 2020, the value of tax exemption utilised by the operators of lodging premises reached RM727.4 million,” said Tengku Zafrul.
“Other initiatives to support the tourism sector include individual income tax relief of up to RM1,000 on travel expenses, as well as a full tourism tax exemption.”
Both initiatives will end on June 31 next year.
Tengku Zafrul said the value of the 100% exemption on export duties for the palm oil-based industry that has been utilised by the national industry until November 13 comes up to RM301.1 million.
For the Wage Subsidy Programme, he said, RM148.22 million has been spent as of November 13 to help 30,492 employers continue their business and retain 247,035 employees. – Bernama, November 24, 2020
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