BANKS are expected to lose RM6.4 bil during the loan moratorium between April and Sept, Finance Minister Tengku Zafrul Abdul Aziz said.
Banks stood to lose RM1.06 bil a month based on the Malaysian Financial Reporting Standards (MFRS) 9, Zafrul told in his reply to a question from Bagan MP Lim Guan Eng in the Dewan Rakyat today.
Lim, the former finance minister, asked Zafrul about the costs borne by banks due to the moratorium and further aid in the event of a second lockdown.
“If the MCO (movement control order) is extended, the government will be assessing the situation and developments,” Zafrul said.
On the Prihatin special grant, Lim asked whether there would be an extension as a second round of MCO loomed in the event there was a spike in Covid-19 cases in the country.
“To date, as many as 545,000 micro SMEs have benefitted from the RM2.1 billion Prihatin special grant. It was supposed to be for 700,000 micro SMEs.
“We will look into this again. We need to give as much assistance to as many micro SMEs as possible,” Zafrul said. – July 27, 2020
