SHAH ALAM, April 6 — Tan Sri Muhyiddin Yassin has today announced an additional RM10 billion supplementary stimulus package for small and medium enterprises (SMEs), on top of the RM250 billion stimulus packages announced on March 27.
The Prime Minister said this includes increasing wage subsidies from RM2.9 billion to RM13.8 billion, which would benefit 4.8 million workers across the country.
“We hope that this will help the financial burden of the SMEs and ensure the job security of the workers,” said Muhyiddin in a special address this afternoon.
Under the supplementary package, ‘Pakej Prihatin PKS (Prihatin SME Packages), Muhyiddin said companies with at least 75 workers earning a monthly salary of RM4,000 and below will get wage subsidy of RM1,200 for each employee, while those with 75 to 200 workers will receive RM800 per employee.
For companies with over 200 employees, Muhyiddin said the previously announced RM600 wage subsidy remains but the number of maximum applicants has been increased from 100 to 200 workers.
“These initiatives are for companies that are registered under the Companies Commission of Malaysia (SSM) or their respective local authorities before January this year as well as Socso (Social Security Organisation). The wage subsidy will be disbursed for three months.
“The companies that opt to receive the wage subsidy must keep their employees for at least six months, which is the first three months of receiving the subsidy and the three months after,” he said.
Other initiatives announced had included a RM,3000 special grant for micro-enterprises, which would benefit 700,000 micro-SMEs that are registered with the Inland Revenue Board (IRB)
Exemption or discount on rental will also be given to enterprises located in government-linked buildings, such as Majlis Amanah Rakyat (Mara), Permodalan Nasional Bhd (PNB) and PLUS Malaysia Bhd (PLUS).
Meanwhile, Muhyiddin had reminded the nation to remain resilient and strong in facing uncertain times and had called for the people to stay committed in the fight against Covid-19.
“Let us stay the course and follow all orders made under the MCO. It is difficult, but certainly not impossible. This is the sacrifice we are called to make in order to win this war against the deadly virus.
“Winning this war starts in our homes and with our families. We can stop the virus from spreading by staying at home and maintaining physical distance,” he said.
