Banks offer additional RM2b SME loans at 3.5% subsidised rate
KUALA LUMPUR (June 5): Besides loan moratorium, banks are offering an additional RM2 billion under the Penjana SME Financing to assist SMEs adversely impacted by Covid-19.
Brand new properties going under the hammer
Bank Negara Malaysia’s (BNM) automatic six-month moratorium on all bank loans will benefit property owners with mortgages, but what happens after the moratorium ends? Read also Uncovering the bargains on EdgeProp.
Najib not aware of bank account balances? Evidence shows otherwise, prosecution submits
KUALA LUMPUR (June 3): Datuk Seri Najib Razak (pictured) was aware of the state of his accounts when he issued cheques, the prosecution submitted in the ex-premier’s trial today, pointing to the timing of the funding of his accounts by fugitive businessman Jho Low and the subsequent spending of the money by Najib.
Mah Sing's 1Q net profit declines but balance sheet remains healthy
KUALA LUMPUR (May 29): Mah Sing Group Bhd has registered a 45.
How to boost the housing market in uncertain times
The economic costs associated with Covid-19 go beyond those incurred by any other previous crises.
60% of Malaysian workers will struggle to survive beyond a week of unemployment, says MTEM senior fellow
KUALA LUMPUR (May 24): About 60% of Malaysian workers will find it very challenging to survive for more than one week, let alone raise even RM1,000 in household expenses, if they suddenly lost their jobs due to the Covid-19 pandemic.
Standard Chartered Malaysia cuts base rate by 50bps effective May 14
KUALA LUMPUR (May 8): Standard Chartered Malaysia (StanChart) has announced that it will be lowering its base rate and base lending rate by 50 basis points to 2.
Some Maybank services to be unavailable during system downtime on May 11-12
KUALA LUMPUR (May 8): Malayan Banking Bhd (Maybank) announced on its website that there will be a system downtime on Monday and Tuesday (May 11 and 12) and certain services will be unavailable.
MoF: Banks to waive interest/profit charge for HP loans, fixed rate financing during moratorium period
KUALA LUMPUR (May 6): The Ministry of Finance (MoF) has reached an agreement with the banking industry to waive additional interest or profit charges for hire purchase (HP) loans and Islamic fixed-rate financing for the six-month moratorium period in conjunction with the Covid-19 pandemic.
Public Bank lowers base rate, base lending rate by 50bps
KUALA LUMPUR (May 6): Public Bank will reduce its base rate (BR) and base lending rate (BLR) by 50 basis points (bps), in line with Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) cut yesterday.
