Summary of additional stimulus package for SMEs in Malaysia by the Malaysian government on 06.04.2020

1. Additional Stimulus
Package for SME
Presented by: Chong Yew Jia and Lee Sook Chin

2. Content
1. Wages Subsidy Program (WSP)
2. Tax Deduction on Rental Reduction and Discount
3. Foreign Worker Levy
4. Loan Facility
5. Extension of Filing Date of Financial Statement

3. Company size Benefits
1-75 people RM1,200 per person
76- 200 people RM800 per person
More than 200 people RM 600 per person**
Maximum of employee eligible: 200 person
Wages Subsidy Program (WSP)
Change

4. • For Company with over 76 people, total sales must reduce by 50%
compared to January 2020
• Company must be registered with SSM and commenced prior 1
January 2020
• Employee must be registered and contributed to PERKESO
• Company cannot deduct salary, force unpaid leave or retrench on
employee applied for this subsidy for at least 6 months after
receiving this subsidy
Wages Subsidy Program (WSP)
Change

5. • Effective from: 01 April 2020
• Apply by employer via prihatin.perkeso.gov.my
• Application start from: 09 April 2020 to 15 September 2020
• Application status will be updated via email.
Wages Subsidy Program (WSP)

6. Tax Reduction on Rental
Reduction or Discount
Rental exemption or
discount for
premises owned by
Government-Linked
Company
• Tax reduction for private premise
owners who reduce their rental
rates.
• The tax reduction amount equals
to the rental amount reduced
from April 2020 to June 2020 (only
if reduction >30% original)
Before After
Change

7. • For foreign workers whose work permit expires from April 2020 to
31 December 2020
• Foreign worker levy payment will be reduced by 25%
• Condition : Not applicable to domestic maid
Foreign Worker Levy

8. 1. 6 months Loan Deferment (With no interest charged)
Only banks are
required to provide
moratorium
Banks and Lending organisation
registered under Moneylenders
Act 1951 are required to provide
moratorium
Loan Facility
Before After
on SME instalment payment beginning April 2020.
Change

9. • Special grant of RM3,000 for each micro SME company
• Condition: Only micro SME registered with LHDN are entitled
for this grant
• Micro SME refers to Company registered with SME, with:
- less than 5 employees; or,
- turnover of under RM300k
Loan Facility
2. Special Grant for micro company

10. i) PRIHATIN Micro Credit Scheme under BSN
• For Working Capital and Capital Expenditure purpose (up to
maximum RM 75,000.) for all business sectors
• Reduce of interest rate from 2% to 0%
• Apply via: Fill in Micro Finance Application Form (from BSN website )
3. Micro Loan scheme
Loan Facility
Change

11. Loan Facility
3. Micro Loan scheme
ii) Tekun Business Financing Scheme under TEKUN National
• Maximum loan limit of RM 10,000 per company
• 0% interest rate

12. Loan Facility
3. Micro Loan scheme
• Condition: Company can only choose one of the scheme
• Apply via: imsme.com.my or contact your banking personnel

13. • Filling of financial statement extended to 3 months
• For company year ended 30 September to 31 December 2019
• Company need to apply for the extension from SSM
Extension of Filing Date of
Financial Statement

14. • Delay of submission of document to SSM
• Extended from 14 days to 30 days
Extension of Filing Date of
Financial Statement
Change

15. ● BSN Micro Kredit Prihatin:
https://www.mybsn.com.my/content.xhtml?contentId=1633
● Additional PRIHATIN SME Economic Stimulus Package (PRIHATIN):
https://www.pmo.gov.my/wp-content/uploads/2020/04/English-
PM-Speech-PRIHATIN-Plus-6-4-2020-905pm.pdf
● FAQ Perkeso Bill 2/2020
https://www.perkeso.gov.my/images/pengumuman/psu/FAQ_PSU
Wage_Subsidy_-_7April2020.pdf
Reference