KUALA LUMPUR, March 18 — Hong Leong Bank Bhd will be assisting its small and medium enterprise (SME) customers adversely affected by the Covid-19 pandemic to sustain their business operations through Bank Negara Malaysia’s (BNM) special relief facility (SRF).
Under the RM2 billion stimulus package announced on February 27, the BNM’s SRF aims to alleviate the short-term cash flow problems faced by the SMEs due to the outbreak.
Group managing director and chief executive officer Domenic Fuda said SMEs are especially vulnerable to economic and business disruptions.
“SMEs are the main drivers of our economy, and we are here to ease the burden faced by our SME customers,” he said.
Fuda added that along with the latest Overnight Policy Rate reduction and the bank’s customer financial relief plan which had been introduced earlier, BNM’s SRF would provide much needed relief for SMEs which are currently experiencing cash flow issues.
“The measures would give them an opportunity to shore up resources, so that they can bounce back faster as soon as the situation improves,” he said. — Bernama
