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Economic Stimulus Package Big Help to Rakyat, SMEs & Corporates
But need to selectively review MCO duration
KUALA LUMPUR, 27 March 2020 – We at Grant Thornton Malaysia welcome our Prime Minister’s substantial and comprehensive package of RM250 billion to help the people, particularly the B40 Group, the Small and Medium sized Enterprises (SMEs) as well as the Affected Corporate Sectors.
Dato' N.K. Jasani, Country Managing Partner of Grant Thornton Malaysia PLT said:
Additionally our PM has rightly declared more funds for the Ministry of Health to a total of RM1 Billion. He has rightly announced additional monthly allowances to the front line persons including Doctors, Nurses, Paramedics, Police and Armed Forces involved.
SMEs and affected large Corporates are also assisted by way of more fundings and loans provided. These include the RM5 Billion funding for Danajamin to provide funding of up to 80% of the funds required for larger loans of RM20 million and above.
In respect of the MCO duration, we urge the Prime Minister and the Government to further review on 30th March and then subsequently every 3 days. Consideration to be given to a shorter MCO duration.
The Government should also concurrently consider other selective measures. These to include pro-active action on Tabligh and other Clusters related persons. Additionally, also to take action to test refugee and immigrant communities particularly in the congested areas in the Klang Valley.
Our Government should also review our MCO with what is done elsewhere and particularly in neighbouring Singapore.
Government should consider allowing government, commercial and professional offices, retail businesses and factories to operate as from 1st April but with strict compliance measures. These include taking temperatures each day, washing hands and use of sanitizers and social distancing.
However, all restaurants, coffee shops, bars and clubs to remain closed except for take-away. Additionally, religious places including mosques and temples, plus schools and universities should remain closed for the time being.
Good to note the pro-active actions being planned for implementation. These include anti-virus disinfection being planned in the highly affected areas in Kuala Lumpur and the proposed distribution of free masks.
Further enquiries, please contact:
Charmane Koh
Senior Manager, Corporate Affairs
Grant Thornton Malaysia PLT
T: +603 2692 4022
M: +017 3384563
Notes to editors:
About Grant Thornton Malaysia PLT
Grant Thornton Malaysia PLT is a member firm of Grant Thornton International Ltd (GTIL) and we have been progressing expeditiously in every aspect ever since our establishment in 1974. Today, we are one of the leading audit, tax and advisory firms in Malaysia, providing assurance, tax, public listing, corporate finance, restructuring and other specialist services to public listed and private companies. With over 850 people, Grant Thornton Malaysia currently provides services from offices in Kuala Lumpur, Penang, Johor Bahru, Kuantan and Cambodia.
About Grant Thornton International Ltd
Grant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, forward looking advice. Proactive teams, led by approachable partners, use insights, experience and instinct to understand complex issues for privately owned, publicly listed and public sector clients and help them to find solutions. More than 56,000 Grant Thornton people across over 140 countries, are focused on making a difference to the clients, colleagues and the communities in which we live and work.
All references to Grant Thornton International in the press release and this “Notes to editor” section are to Grant Thornton International Ltd. Grant Thornton International Ltd is a non-practicing, international umbrella entity organized as a private company limited by guarantee incorporated in England and Wales.