Kuala lumpur: The Malaysian Ministry of Finance has launched a new package of measures aimed at supporting small and medium-sized enterprises (SMEs) facing pressures from the global energy crisis and its impact on the business environment.
According to Yemen News Agency, the package includes allocating approximately RM5 billion (US$1.27 billion) to provide government guarantees for loans granted to affected companies, with the government covering up to 80% of the financing value in case of default.
In a statement issued Monday, the government said these guarantees extend for periods of up to 10 years, encouraging banks to increase lending to the sector.
The ministry also extended the transition period for implementing the electronic invoicing system until the end of December 2027 for companies with annual sales between RM1 billion and RM5 billion, a move aimed at providing greater flexibility for the private sector during its digital transformation.
The ministry is also considering granting temporary exemptions from customs duties and sales tax until the end of 2026 on re-imported Malaysian goods whose export could not be completed due to disruptions related to geopolitical tensions.