ANNOUNCEMENT 06 Apr 2020

Malaysia's Prime Minister has announced a stimulus package to support Small and Medium Enterprises (SMEs) in response to the COVID-19 pandemic.

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 0 neutral
  • 1 liberalising
Inception date: 06 Apr 2020 | Removal date: open ended

Financial grant

On 6 April 2020, the Prime Minister of Malaysia announced an additional stimulus package worth RM10 billion (~ USD 2.29 billion) for the SME's. The package, called the Additional PRIHATIN SME Economic Stimulus Package (PRIHATIN SME+), has the objective to ease the financial burden of the SMEs. As part of the package, a Special PRIHATIN Grant of RM2.1 billion (~USD 481 million) has been announced to provide a grant of RM3000 (~ USD 688) to eligible micro-enterprises. Micro SMEs registered with the Inland Revenue Board of Malaysia will be eligible for this grant.

Further, the wage subsidy program announced in the stimulus package in March 2020 has been enhanced but is excluded here as it is beyond the scope of GTA.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 01 Apr 2020 | Removal date: 31 Dec 2020

Post-migration treatment

On 6 April 2020, the Prime Minister of Malaysia announced an additional stimulus package for the SME's as part of which the levy on foreign workers for companies with work permits that will expire between 1 April to 31 December 2020 has been reduced by 25% (the deduction is not applicable to the domestic help sector).

 
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