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Malaysia rolls out financial support measures for businesses

Prime Minister Anwar Ibrahim said on April 20 that a key measure is a 5 billion MYR guarantee package (1.27 billion USD) under the Syarikat Jaminan Pembiayaan Perniagaan (SJPP) scheme. The financial guarantee ratio for businesses will be raised to 80% from the previous 70%, while the guarantee period will be extended to up to 10 years instead of seven years.

Illustrative Image (Photo: theedgemalaysia.com)
Illustrative Image (Photo: theedgemalaysia.com)

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Kuala Lumpur (VNA) – The Malaysian government has announced a series of financial support measures for micro, small and medium-sized enterprises (MSMEs) as the economy faces impacts from the ongoing conflict in the Middle East.

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Prime Minister Anwar Ibrahim said on April 20 that a key measure is a 5 billion MYR guarantee package (1.27 billion USD) under the Syarikat Jaminan Pembiayaan Perniagaan (SJPP) scheme. The financial guarantee ratio for businesses will be raised to 80% from the previous 70%, while the guarantee period will be extended to up to 10 years instead of seven years.​

The package is expected to support businesses operating in affected sectors such as construction, agriculture and agro-food, logistics, transport, and tourism.​

PM Anwar noted that the SJPP will also work with banks to facilitate debt restructuring and rescheduling for businesses, as well as provide targeted loan repayment deferments for eligible firms. He stressed that the Malaysian government will act swiftly based on direct feedback from businesses to ensure the measures reach those most in need.​

In addition, Anwar said the government has agreed to allow companies with annual revenues of 1–5 million MYR an additional 12 months to transition to phase four of the electronic invoicing rollout. The new deadline will be December 31, 2027. During this transition period, firms will also be allowed to issue consolidated e-invoices without penalties.​

The government is also considering a temporary exemption from import duties and sales tax for goods manufactured in Malaysia that are re-imported after failing to complete export procedures due to disruptions linked to the conflict. The measure would remain in effect until December 31 this year.​

He said the government will closely monitor developments and assess the need for further tax adjustments to support businesses affected by the Middle East conflict. He emphasised that the government will continue taking proactive steps to ensure the business ecosystem remains resilient and adaptable amid prolonged global pressures./.

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VNA
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