UOB Malaysia to continue to assist customers post-moratorium

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KUALA LUMPUR (July 16): The United Overseas Bank (M) Bhd (UOB Malaysia) will continue to assist customers beyond the loan moratorium period to help them manage the prolonged impact of the Covid-19 pandemic on their businesses and personal financial situation.

It said with the moratorium due to end in September this year, customers who needed further financial assistance post-moratorium are asked to contact the bank soonest.

“Their requests will be assessed on a case-by-case basis. UOB Malaysia will then work out options to help these customers meet their loan obligations through this unprecedented period,” it said in a statement today.

It said the bank would also continue to review its relief measures for both its conventional and Islamic banking customers to ensure relevant support to help them through post-moratorium.

“The support includes the option to restructure their financial repayments based on their cash flow requirements and to ensure their financial needs are met,” it said.

Meanwhile, the Malaysian Trades Union Congress (MTUC) is calling for the government to make a clear, unequivocal announcement on extending the moratorium or otherwise.

Secretary-general J Solomon said the Finance Ministry must end the lingering ambiguity on this pressing issue.

“MTUC has time and again reiterated on the need for the moratorium to be extended for the sake of hundreds of thousands of workers who have been rendered unemployed or forced to take hefty pay cuts and remain in dire straits,” he said.

He said these workers situation remained critical despite the gradual reopening of the economy as the pandemic is largely contained.

Solomon said MTUC also suggested the government to extend the moratorium for targeted groups such as B40 and M40 workers that are the most affected by the economic downturn.