Kuala lumpur: Entrepreneurs and cooperatives impacted by recent floods and landslides may now seek loan restructuring or deferment of repayments for up to six months, as announced by Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick. The policy is activated nationwide whenever a district or state is officially declared as disaster-affected.

According to BERNAMA News Agency, Datuk Ewon Benedick, who also serves as the Penampang Member of Parliament, stated that his ministry oversees seven financing agencies that are prepared to facilitate this relief. These agencies include Bank Rakyat, SME Bank, TEKUN Nasional, Amanah Ikhtiar Malaysia (AIM), Cooperatives Commission of Malaysia (SKM), Perbadanan Nasional Berhad (PERNAS), and SME Corp Malaysia.

To avail of this deferment, affected entrepreneurs or cooperatives must file a police report and inform their respective financing agencies. The borrowers are required to present the police report along with confirmation that their business premises have suffered disaster-related damages as proof for their deferment applications.

The policy has previously been utilized in various regions of Sabah, including the flood-impacted districts of Penampang, Papar, Beaufort, and Sipitang. Datuk Ewon emphasized the ministry's commitment to aiding entrepreneurs and cooperatives in recovering from disaster-induced losses, providing them with the opportunity to regain stability and continue their operations.