KUALA LUMPUR, Sept 28 — Credit Guarantee Corporation Malaysia Bhd believes that the anticipated business distress when the six-month moratorium expires on Sept 30, 2020 will be manageable.
“This is because stakeholders like banks and CGC have been reaching out to customers and small and medium enterprises to discuss how to weather through this period,” he said on the sidelines of CGC’s 25Mohd Zamree said since June this year, CGC has contacted over 35,000 of its customers to discuss how to resume their repayments after the blanket moratorium ends.
Mohd Zamree added that the volume of engagement increased significantly this month and is expected to increase until year-end. Meanwhile, Mohd Zamree said a new way of assessing applicants will be introduced between the end of the year and the first quarter of 2021.