In a statement, MATTA president Datuk Tan Kok Liang said the association wants details of the mechanism of the PTF facility, where "we are looking at extremely low interest rates or interest-free loans for digitalisation under the new norm where most procedures and sales are contactless, and are also done extensively through e-marketing platforms".

The return of the HOC was among the measures taken to boost the property sector under the Penjana Short-term Economic Recovery Plan announced by Prime Minister Tan Sri Muhyiddin Yassin yesterday.

In a statement, MTUC secretary-general J Solomon said MTUC fears that, similar to the previous Prihatin stimulus packages, Penjana will fail to live up to its lofty promises on ensuring workers are protected.

The subsidy amount, which was retained at RM600 per employee per month, is “insufficient for the industry to sustain”, said the association in a statement yesterday.

In a filing, BCorp said it holds a controlling stake in the joint venture with Marubeni Corporation and Daiwa House Industry Co Ltd to undertake the project.

"The power vested in a chairman is guided by the constitution. I will use the constitutional platform. I'm not a person who ignores the constitution or the law for my own personal gain. We will follow the constitution (for the next course of action)."

Under this programme, dubbed the SME Go-Scheme, Prime Minister Tan Sri Muhyiddin Yassin announced that SME Bank will provide financing support to contractors and vendors who were awarded small Government projects under the Economic Stimulus Package 2020 and the PRIHATIN stimulus package.

Prime Minister Tan Sri Muhyiddin Yassin: To aid the tourism sector, an RM1 billion Penjana Tourism Financing (PTF) facility will be made available to finance transformation initiatives by SMEs in the tourism sector to enable them to remain viable and competitive in the new normal. Details of this fund will be announced by Bank Negara Malaysia (BNM) in July 2020.

The financing facility will be made available in mid-June 2020 with a maximum loan size of RM500,000 per SME.

The new rates are applicable for purchases made from June 15, 2020 to Dec 31, 2020