Bank Pembangunan Malaysia Berhad Will Support Its Customers Weather the Covid-19 Storm |
| Saturday,28 March 2020 ----------------------------------------------------------------------------------------------------------------------------------------- KUALA LUMPUR, 28 March 2020 - In the light of the current situation faced by the nation, Bank Pembangunan Malaysia Berhad (“BPMB”) will provide all relevant support to its customers facing difficulties including granting a moratorium on repayments/payments of loans/financings for a period of six (6) months. BPMB’s customers comprise corporations involved in key economic sectors in the country including infrastructure, oil and gas, and tourism. This is in line with the measures announced by Bank Negara Malaysia (“BNM”) on 24 March 2020 designed to assist individuals, small and medium-sized enterprises (SMEs) and corporations to manage the impact of the outbreak. “We fully support this initiative and will provide assistance to our customers in their time of need. This is our duty. By supporting our customers and easing their burden, it is hoped that they will be able to guarantee the continued employment of their staff,” BPMB President/Group Chief Executive Officer Arshad Mohamed Ismail said. The moratorium is applicable to existing BPMB customers facing difficulties due to the impact of COVID-19. The deferred interest/profit during the six (6)-month moratorium will not be compounded. The deferred instalment payments/repayments of loan/financing (principal and interest/profit) will be payable by the customers upon the expiry of the moratorium period. BPMB customers who are adversely affected by the Covid-19 outbreak are encouraged to reach out to their Relationship Managers to discuss their concerns. Bank Pembangunan Malaysia Berhad (BPMB) was incorporated on 28 November 1973 with a role in the development of the Malaysian economy by assisting entrepreneurs involved in small and medium-sized industries through the provision of various financing facilities, training and advisory services, particularly to the Bumiputera entrepreneurs. Today, BPMB is mandated to provide medium to long-term financing to the strategic sectors of the economy. Through its wholly-owned subsidiary Pembangunan Leasing Corporation Sdn. Bhd. (PLC), BPMB also provides financing to small and medium-sized businesses including those involved in manufacturing, construction, supply, transportation, agriculture, hospitality and information technology. Owned by Minister of Finance Incorporated, BPMB has been accorded the highest rating ‘AAA’ by both RAM Rating Services Berhad (RAM) and Malaysia Rating Corporation Berhad (MARC). It is regulated and supervised by Bank Negara Malaysia under the Development Financial Institution Act 2002. With a combined asset value of RM24.7 billion (as at 31 December 2018), the BPMB Group is well-positioned to meet the financing and business development needs of Malaysian businesses in the priority sectors. For more information, please contact: |
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