Here are the highlights of the new stimulus package.
The government will increase the wage subsidy of RM600 monthly for employers from RM5.9bil announced on March 27 to RM13.8bil, an additional RM7.9bil.
For companies that employ more than 200 people, the number of workers who will be eligible for the subsidy is increased from 100 previously, to 200.
For companies that employ between 76-200 employees, the company will receive a wage subsidy of RM800 for each worker.
For companies that employ between 1-76 employees, the company will receive a wage subsidy of RM1,200 for each worker.
The aid comes with a condition that employers must retain their staff for at least six months.
The creation of a RM2.1bil Prihatin Special Grant for all SME companies that qualify.
The Government will provide a special grant of RM3,000 to each company, which is expected to benefit nearly 700,000 micro SMEs nationwide. These SMEs must register with the Inland Revenue Board (IRB) to enjoy this facility. The government will obtain a list of eligible SMEs from the Local Authorities and Companies Commission of Malaysia (SSM).
The government will be abolishing the 2pc interest rate…
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