Standard Chartered Malaysia and Standard Chartered Saadiq Malaysia have committed to assisting their small and medium enterprise (SME) clients, who face difficulties in servicing their debt repayments from the recent rise in borrowing costs due to the challenging business environment.
To support small business borrowers, the Bank’s measures to lessen their burden during this period include Rescheduling and restructuring assistance – Relationship Managers will engage clients to discuss their cash flow management and suggest suitable repayment plans that suit their individual financial circumstances, on a case-by-case basis. Interest-only payment – Option for clients to only pay the interest on their loans, to lower their repayment amount and minimise cash flow disruption from sudden interest hikes, while the overall loan tenure would be extended. Special assistance for women entrepreneurs – A six-month principal moratorium for loan repayments under the Standard Chartered Women’s International Network (SC WIN) programme.
Mak Joon Nien, Chief Executive Officer at Standard Chartered Malaysia said, “We understand that borrowers of various sizes, especially small businesses, may find it more difficult to repay their monthly instalments for loans with floating interest rates in recent times. As our clients’ well-being remains our utmost priority, we hope that these financial repayment options can help ease their financial burdens, amidst the many challenges they face in growing and sustaining their businesses.”
