Kuala Lumpur, 10 July 2020 – Entrepreneurs who had taken loans under the financing schemes provided by financial institutions or banks have been advised to assess their cash flow and capability to make the mandatory repayments by the time the moratorium period ends in September.
Association of Development Finance Institutions of Malaysia (ADFIM) secretary-general Mohd Prasad Hanif said it was also essential for the entrepreneurs concerned to fine-tune their business models in line with the drastic changes brought about by the new normal in order to sustain their financial capability.
“The failure of entrepreneurs to be prepared from the start will expose businesses to various risks, as sales have yet to increase while cash flows are shrinking due to financing repayments,” he said in a statement today.
According to Mohd Prasad, the post-COVID-19 buying power is still in the midst of adjusting to the new normal, and entrepreneurs may not be able to modify their business models to keep up with the trend.
“In this regard, entrepreneurs should not hesitate to seek ADFIM’s services. We remain committed in providing assistance and support to them,” he said.
Entrepreneurs may contact the Centre for Entrepreneur Development and Research (CEDAR), Technopreneur Training Academy (TENTRA), MARA Entrepreneur Development Division, Franchise Institute (Perbadanan Nasional Bhd), Agrobank Centre for Excellence or any other entrepreneur development divisions for consultation.
-BERNAMA
