KUALA LUMPUR - Malaysia unveiled a 10 billion ringgit stimulus package Monday targeted at small and medium enterprises to soften the impact from the coronavirus pandemic that threatens to plunge the
country into a recession.
The main feature of the government's aid this round is the 7.9 billion ringgit increase in wage subsidy to 13.8 billion ringgit, for companies with workers earning 4,000 ringgit and below. But the second package failed to impress the SMEs and many lamented that the wage subsidy totaling 5.9 billion ringgit announced then, or at 600 ringgit per worker, was not enough to save their business from closing down and letting the workers go.
He also announced a 2.1 billion ringgit grant for micro SMEs or 3,000 ringgit each for the estimated 700,000 micro SMEs across the country.
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