On 17th March, our prime minister announced the launching of the Strategic Programme to Empower the People and Economy (PERMEKASA), which is a stimulus package to recover the economy of the country.
Below are the highlights of the stimulus package:
With this package, there are RM500 million allocated to small and medium enterprise (SME) financing facilities, which are under BSN, TEKUN Nasional, SME Corp, and MARA. The government will issue RM300 million from PERMEKASA via BSN, through which the funding limit is RM50,000. You can enjoy a lowered interest rate of 3% for five years and start the installment repayment after the sixth month.
Entrepreneurs From the Informal Sectors:
TEKUN provides funding of RM60 million, mainly through the Informal Funding Scheme with a limit of RM5,000 for small-scale home and night market business.
To accommodate expenses related to workers’ housing, tax incentives of up to RM50,000 will be provided to manufacturing and services companies.
Improving Operational Efficiency:
A RM 50 million will be allocated under the Malaysian Investment Development Authority (MIDA)’s Smart Automation Grant to stimulate SME and mid-tier companies in engaging technology in their business to improve their productivity.
Waive on Lifting Fees:
The waiver of a 12-month listing-related fee is available for companies that apply to the list on the Main Market, LEAP and ACE markets. Hence, companies can gather their funds via the stock market.
The government allocates RM700 million as wage subsidies to sectors that are affected by the pandemic. The launch of the Hiring Incentive and Training Programme 2.0 (PenjanaKerjaya 2.0) encourages employers to do recruitment in which employers can also benefit from it.
More information about PenjanaKerjaya 2.0:
Incentives for Women Entrepreneurs
Government allocates RM 30 million for women who want to shift their business online during this pandemic.
To revitalise the economy of the country, the Ministry of Entrepreneur and Cooperative Development (MEDAC) will channel all the incentives to the relevant parties. Besides, CORPSO is ready to be your helping hand in company registration. Appoint a company secretary from CORPSO today. Break free from worries about company operation during this pandemic!