8th April 2020
Fatin Nabilah Zulkepli - Rahayu Partnership
Since the implementation of the Movement Control Order (MCO) on 18 March 2020 due to the COVID-19 pandemic, the Malaysian government has introduced various stimulus packages to ease the burden of the individuals and businesses in Malaysia. MSI's Malaysian law member Rahayu Partnership summarises the key measures and objectives to mitigate the immediate impact of COVID-19, support businesses, spur economic growth as well as encourage investment growth.
Restructuring and rescheduling of loans
Cash handouts for B40 (lower class) and M40 (middle class) households
Special relief fund to assist the cashflow for Small to Medium Enterprises (SME)
Guarantees to corporate entities
Human Resources Development Fund (HRDF)
Telecommunication services incentives
Cash handouts to frontliners
Companies with workers earning less than RM4,000 (US$916) per month will be eligible to receive RM600 (US$137) / RM800 (US$184) / RM1,200 (US$276) per month for the next three months depending on the amount of employees.Tax exemptions and deferments
SUPPORT THAT CAN BE PROVIDED TO OTHER MSI MEMBERS TO ASSIST WITH COVID-19 CHALLENGES
It is undeniably that businesses in Malaysia and across the globe have taken its toll due to COVID-19 pandemic that forced non-essential businesses to close and people to work remotely from home, which some may find it challenging. We understand everyone’s concern in respect of their business sustainability during this tough time, so do we.
We believe that everyone, especially MSI family should hold hands and brace this storm together. Being a contemporary and dynamic legal firm, it is an imperative for us to provide our seamless service 24 hours a day, 7 days a week across jurisdictions despite Movement Control Order (MCO) is in place. We trust that our 24 hours availability to provide our services during this crucial time is a support needed by MSI members should they require any legal advice, legal representation or perhaps to explore any business opportunity in Malaysia. We will always there for you.
We believe that once a family, will always be a family.
By Hazwan Alif of Rahayu Partnership, Malaysia.
Rahayu Partnership was established in 2009, in the heart of the business-driven capital that is Kuala Lumpur, Malaysia. Our clientele spans across Greater Asia, Europe and Far East via our global network of lawyers.
View firm profile
Read our article in the IAB on how accountants and lawyers are responding to #Covid19 challenges… https://t.co/I7VskpfDJ5
From complete shut-down to great agility: how family courts across the world have responded to Covid-19 https://t.co/uztZwdyfiO
MSI's New Delhi member RNC Legal welcomes new of counsel to its corporate practice https://t.co/VxApZ1saOu #india