Do you know? According to the Bank Negara of Malaysia Press Release a new financial assistance program “Defer Loan Payment Moratorium” had been introduced to help the affected individual and SME during the Movement Control Order “MCO” Period. The borrowers can defer their loan payment [including Housing Loan, Car loan, etc.] starting from 1 April …
Covid-19 Movement Control Order: How to Defer Loan Payment? Read More »
What should I do if I can’t pay rent during Covid19? You can check your tenancy agreement to confirm whether there has Force Majeure Clause. Force majeure is not an automatic right or a principle which underpins any agreement impliedly. Instead, it must be expressed explicitly in a contract to enable a party to rely on …
Wage Subsidy Program What is Wage Subsidy Program? This Wage Subsidy Program refers to a section in the revised stimulus package announced on March 16 where a RM600 monthly financial assistance is provided between periods of one to six months for employees. Requirement and Condition Employers who experienced revenue loss of more than 50% since …
How to apply for the RM600 monthly financial assistance? Read More »
Salary Reductions Salary reductions are one of the recommended steps instead of retrenchment. However, employers must first consult and obtain the consent of its employees before applying any pay cut of salary deductions. Employers should communicate transparently with their employees about the reason for the salary reduction, and explain that this is an attempt to …
Can employers impose salaries reductions on employees due to COVID-19? Read More »
What is Retrenchment? Retrenchment is the dismissal of employees who become surplus to the needs of the organisation. This could be caused by various factors such as loss of profit, lack of business or financial difficulties, cash flow problem, etc. Rights for employer Employers facing financial difficulties as a result of the COVID-19 pandemic may …
Can employers retrench their employees due to the COVID-19 outbreak? Read More »
