RM10b stimulus much needed lifeline for SMEs, says Matta

07 Apr 2020 / 14:51 H.

PETALING JAYA: The Malaysian Association of Tour and Travel Agents (Matta) welcomes the additional RM10 billion for Small and Medium Enterprises (SMEs) under the Prihatin Rakyat Economic Stimulus Package.

The package announced by Prime Minister Tan Sri Muhyiddin yesterday is a positive move by the government to help cushion the impact of the Covid-19 which has had a severe impact on SMEs especially tourism businesses, Matta President Datuk Tan Kok Liang said.

“The majority of travel and tour companies are in the third tier with less than 76 employees and the new wage subsidy tiering will help to ease company cash flow problems and help retain more employees,” he said in a statement today.

“In addition, Matta also welcomes the decision by government to urge leasing companies to offer a six-month moratorium similar to that provided by banks. This is a much-needed relief because based on feedback many leasing companies are still asking for repayments because they do not fall in the same category as banks.

“A six-month moratorium for leasing companies will help many tourism businesses, travel agencies who own tourism vehicles in particular, tide over this difficult period when business and income are virtually nil.”

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