Malaysia – The High Court in Kuala Lumpur was informed that the two checks totaling RM9.5 million received by lawyer Tan Sri Muhammad Shafee Abdullah from Datuk Seri Najib Razak were not a loan. Rather than that, former Inland Revenue Board (IRB) tax officer Syed Nasrul Fahmi Syed Mohamad said that the checks were advanced payments for legal services performed …

The government has introduced a scheme to help finance small businesses 13th month payout, but companies worry the loan conditions are not enticing enough for distressed businesses that can spend the capital elsewhere or simply want to close down entirely. To date, some 21,000 micro, small and medium-sized enterprises (MSMEs) have received funding under the COVID-19 Assistance to Restart Enterprises …

DHAKA – Bangladeshi State Minister for Foreign Affairs Shahriar Alam said that the country is looking forward to connect and establish road and railway links to ASEAN and China. As the chief guest at a webinar “Bangladesh-China Development Cooperation: Experience Outlook”, Alam said that they have reached out to the Chinese embassy in Dhaka to discuss the possible partnership between …

PETALING JAYA – AirAsia Group Bhd has confirmed that is has secured a a loan as part of its ongoing capital-raising plans. The RM300 million loan came from the Sabah Development Bank Bhd (SDB) to its units as part of the group’s fundraising efforts. AirAsia Bhd Riad Asmat confirmed that the loan has been approved and disbursed. He added that …

METRO MANILA – The Philippines and Japan signed an agreement on Tuesday for a 50-billion yen (P23 billion), which the Palace can use to spend on post-disaster response efforts not only during natural calamities but also disease outbreaks. Foreign Affairs Secretary Teodoro Locsin Jr. and Japanese Ambassador Koji Haneda met yesterday to formally finalize the Post Disaster Stand-by Loan Phase …

In the midst of the slower speed of residential project sales, the Bank of Thailand has closely controlled property supply, vowing to hold unchanged loan-to – value (LTV) regulations for mortgage loans. Based on a review of the property sector’s remaining inventory, there is no oversupply in the industry, reported Ronadol Numnonda, Deputy Governor for Stability of Financial Institutions. Because …

METRO MANILA – The Asian Development Bank (ADB) has granted the Philippines another $125-million loan for the country’s coronavirus pandemic response. The funds will specifically aims to purchase medical equipment critical on the government’s fight against the pandemic. According to ADB, the loan was approved under the HEAL COVID-19 or Health System Enhancement to Address and Limit Project by the …

Bank Indonesia (BI) will cut the minimum down payment for automotive loan/financing specifically for the purchase of eco-friendly vehicles to zero (0) percent. This policy takes effect from October 1, 2020. Currently, the minimum down payment limit is between 5 percent and 10 percent. “Lowering the minimum down payment limit from 5 percent -10 percent to 0 percent in the …

METRO MANILA – The Asian Development Bank (ADB) approved fresh loan to the Philippines to support the reforms by the government to improved the country’s agri sector that could ultimately lessen poverty in provinces. According to the bank’s vice-president, poverty has remained high because of low productivity and limited crop diversification despite the country’s initative of reducing the nation’s poverty …

PETALING JAYA – Prime Minister Tan Sri Muhyiddin Yassin confirmed today that the government has allowed  three-month loan moratorium extension and assistance for those affected by Covid-19 and the movement control order. The Prime Minister said that the target moratorium will be for a three month extension and will be offered to thos who lost their jobs this year or …