HSBC Offers Liquidity Relief As Malaysians Face Challenges Economically

Stuart Milne, Chief Executive Officer, HSBC Bank Malaysia Berhad

As businesses and individuals are facing challenging times amidst the Covid-19, HSBC Malaysia is extending liquidity relief assistance to its customers affected by the pandemic.

HSBC has always stood with Malaysia through good and bad times.

Chief Executive Officer, HSBC Bank Malaysia Berhad, Stuart Milne said that HSBC will continually support the local community to the best of their capabilities.

“We empathise with our customers who have to deal with the turbulence caused by this unforeseeable outbreak and we are taking actions to help alleviate their financial burdens.”

HSBC’s wealth and personal banking customers can apply for interest/profit-only payment and moratorium for up to six months on loans/financing, mortgages/home financing and retail business banking (Fusion) to ease their repayment.

In addition, HSBC’s credit cardholders may also apply for a moratorium to defer credit card payment for up to six months.

Furthermore, the Bank can customise short-term restructuring arrangements according to customers’ financial needs on top of the existing offers available to them.

Small and Medium Enterprise (SMEs) customers may apply for payment moratoriums.

The Bank has also made available government-guaranteed borrowing facilities to continue to support those who need access to financing. Banking relationship managers are available to discuss the options available to customers.

As for the Bank’s commercial and global banking customers, the bank is offering repayment flexibility with extension of trade loans/financing payment period for 30 days.

The Bank has pre-approved 30-day extension of trade loans/financing maturing between 18th and 31th March 2020 without any additional fee or penalty rate for customers with sound trade loan/financing record.

These applications for relief measures will be assessed and approved on a case-by-case basis.

The Bank is actively evaluating further initiatives to support commercial and personal customers.

Furthermore, HSBC will support its customers to navigate through their financial challenges in accordance to the Government’s 2020 Economic Stimulus Package.

HSBC relationship managers are available to discuss and assess situations that customers may be facing, and assistance may be extended accordingly.

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