Deputy Finance Minister Mohd Shahar Abdullah said the borrowers must submit their applications as the moratorium process was no longer automatic as previously.
According to him, the value of the loan repayment moratorium involving 7.7 million borrowers as of July 24 is RM62.8 billion. Of the total borrowers, 243,000 are small and medium enterprises.
“We do not want them to apply at the last minute. If they come at the end of September, we are worried about the banks’ ability to manage their applications,” he told reporters here today.
Shahar earlier launched the 15th Malaysian National Economic Conference (Perkem) and Tun Abdullah Ahmad Badawi Legacy Organisation (Legasi)-Perkem webinar series 2020.
He reminded borrowers that the application for an extension of the moratorium, which ends on Sept 30, would take time to process.
Meanwhile, Legasi chairman Jefridin Atan, who was ex-prime minister Abdullah Badawi’s special officer, said Covid-19 prompted the organisers to innovate and hold the Legasi-Perkem webinar series via the zoom application and Facebook live, in line with the new normal.
He said five webinars had been planned for this year involving the National Economic Action Council, Economic Planning Unit, Felda, Malaysian Islamic Economic Development Foundation, and the World Islamic Economic Forum.
CLICK HERE FOR OUR LIVE UPDATE OF THE COVID-19 SITUATION IN MALAYSIA