Violet: Is Our Country’s Coffer Running Dry?


Press Statement by Violet Yong:

A lot of SMEs’ hope has run down the drain and the companies which applied for funding feel played out by the Government at both Federal and State Levels.

It seems like the so called low interest loan at 3.5% p. a and 0% by Sarawak Government are used as ‘soothening pill’ during MCO. And now given that the MCO is ending soon, the SMEs start receiving feedbacks or messages that the BNM’s funding for the loan has finished!

There are incidents whereby a lot of SMEs haven’t got their 3.5% loan from Bank Negera Malaysia despite Letter of offer has been signed.

Also, as to some SMEs who applied for 0% Loan from Sarawak Government, they received message from certain Bank that the Bank Negera Malaysia’s fund has finished.

This is not the time for the Government to play out the public’s sentiment especially the SMEs which contribute about 40% of Malaysia’s GDP which remain the backbone that drive our country’s economy growth but to make sure that whatever has been promised to help the SMEs is fulfilled.

I urge both the government and BNM to immediately come out with a full explanation on the matter as many SMEs require the loan to get through this difficult and challenging time due to Covid-19 Pandemic.