The Associated Chinese Chambers of Commerce And Industry Of Malaysia (ACCCIM) President Tan Sri Datuk Ter Leong Yap welcomes the PRIHATIN package for SMEs and is grateful that the Government has heard the voices and apprehended the concerns of SMEs business community pertaining to their survival in coping with the first order impact of Movement Control Order (MCO) and also the aftermath effect – containment, stabilization and recovery. It is vital to safeguard SMEs against businesses’ closures and bankruptcies as this will result in massive retrenchments and the loss of income for workers as well as detrimental to the economy.

“Our appreciation also goes to YAB Prime Minister Tan Sri Muhyiddin Yassin and also to Minister of International Trade and Industry, Minister of Finance, Minister in Prime Minister’s Department (Economy) and Minister of Transport for their great efforts in considering our feedback and inputs to prepare this extra incentive package for SMEs.”

Ter, who is also the President of the National Chambers of Commerce and Industry of Malaysia (NCCIM) said, today’s announcement of PRIHATIN (TAMBAHAN) package for SMEs has considered some of our requests to urgently address some pressing problems faced by both the large companies and SMEs. We are pleased that the package has taken care of the plight of micro businesses (about 700,000) through special grant and zero interest rate soft loan to help them through this tough time.

The revised wage subsidy of RM600, RM800 and RM1,200 per month per employee costing RM13.8 billion, depending on the size of business operations (April-June 2020) is certainly provides a timely financial relief to businesses. It will benefit 4.8 million employees.

We are relieved that the Government has agreed to encourage mutual discussion between the employers and employees pertaining to terms and conditions, including the options of pay cut and no pay leave during the MCO period. It gives the employers’ flexibility to engage with employees in coping with this turbulence time.

Other measures such as a 25% discount on foreign workers’ levy for the period 1 April to 31 December 2020 would help to ease businesses’ operating costs. The rental reduction or discount given to retailers in the premises owned by GLCs is a welcome move to set in trickle effect on private owners of premises and shops to lower their rent. The owners of buildings or business premises will be given an additional tax deduction up to the same amount of rent reduction, on condition that they provide at least 30% reduction from the original amount of rent.

We would continue to work with the Government to protect public health and the economy during the COVID-19 pandemic. This is a collective responsibility.

We strongly believe that the Government would continue to engage with businesses, to review the policy actions from time to time and make pragmatic decision, taking into account the evolving developments concerning the economy and businesses.

Tan Sri Datuk Ter has reiterated that both NCCIM and ACCCIM would give firm commitment to actively involve and contribute actionable ideas as well as suggestions for the formulation of medium-and long-term plan to ensure a sustainable economic and business development.