SME corp to help SMEs affected by floods

SME Corp Malaysia has offered to help over 50 small and medium enterprises (SMEs) affected by the floods in Hulu Langat last Wednesday. "Each affected SMEs stands to benefit up to a maximum of RM100,000 from the RM10 million SME emergency fund in the form of soft loan channelled by Malaysian Industrial Development Finance," it said in a statement. SME Corp said the victims were briefed on the processes in obtaining the assistance. It said the floods had caused major losses to the SMEs, approximately RM30,000 to RM300,000 in damages were reported. Chief executive officer, Datuk Hafsah Hashim, said the government was concerened with the tragedy and the loss suffered by the SMEs. "The assistance will help ease their burden," Hafsah said. The scope of the financing includes procurement of equipment and machines to replace those destroyed in the floods, purchase of raw materials as well as repair and restoration of their premises.