KUALA LUMPUR, April 21– Prime Minister Datuk Seri Anwar Ibrahim has announced an additional RM5 billion facility under the Syarikat Jaminan Pembiayaan Perniagaan (SJPP) scheme to assist micro, small and medium enterprises (MSMEs) facing the impact of the West Asia crisis.
This additional facility brings the total facility to RM10 billion.
Anwar said the governor of Bank Negara Malaysia will provide details of the additional facility in the near future.
“(This facility) is to help drive growth and also act as a catalyst for companies in need. This assistance must involve smaller companies and agricultural groups, smallholders, fishermen and hawkers who operate small stalls and restaurants,” he told a press conference after a roundtable session with 20 representatives of financial institutions today.
Also present at the roundtable session were Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour and Treasury secretary general Datuk Johan Mahmood Merican.
Anwar, who is also the Finance Minister, yesterday announced a guarantee allocation of RM5 billion under the SJPP to ease the pressure on MSMEs following the global energy crisis and the West Asia conflict.
The allocation is to support affected MSMEs including in construction, agriculture and agri-food, logistics and transportation, and tourism through financing coverage of up to 80 per cent from 70 per cent previously and a guarantee period of up to 10 years compared to seven years.
Meanwhile, the SJPP scheme continues to be one of the government’s main instruments in supporting the survival of MSMEs, with more than 50,000 MSMEs being assisted through financing guarantees exceeding RM50 billion for the period 2023 to 2025.
Previously, the government implemented e-invoice relaxation with an additional transition period of 12 months for the implementation of Phase 4 e-Invoice until Dec 31, 2027 for businesses with annual sales between RM1 million and RM5 million, including permission to issue consolidated e-invoices without penalty during that period.
The government is also considering on an interim basis the exemption of import duty and sales tax on the re-importation of Malaysian-made goods that are unable to complete the export process due to conflict disruptions until Dec 31.
