PUTRAJAYA: The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) is offering a moratorium on deferring loan repayments for a period of three to six months for entrepreneurs affected by floods. It said in a statement today that the moratorium was given because there are entrepreneurs and cooperatives who reported losses due to damage to premises, equipment, and stock of business goods.

According to BERNAMA News Agency, during the moratorium period, affected entrepreneurs will have time to focus on recovery efforts without feeling the financial pressure from loans to be paid. Affected entrepreneurs can contact the branch offices of nearby KUSKOP agencies to obtain more information regarding the flood initiatives offered.

Meanwhile, KUSKOP stated that the ministry has mobilized an initial aid mission to flood victims who are placed in several temporary relief centres (PPS) through the National Entrepreneurial Group Economic Fund (TEKUN). According to the statement, TEKUN has provided food to 1,500
flood victims at three PPS in Kuala Nerus, Terengganu.

In Kedah, the Cooperative Commission of Malaysia through Koperasi Melayu Pulau Pinang Berhad has supplied clean water to residents around the Jeneri district. “KUSKOP has designed the implementation of a corporate social responsibility (CSR) programme on a large scale after the floods have recovered with various aid initiatives and post-flood cleaning programmes that will be implemented by the KUSKOP MADANI Charity Squad,” added the statement.