Individuals and small and medium-sized enterprises (SMEs) facing cashflow difficulties will now have more time to repay their loans.

The extension in support measures will progressively expire over 2021, announced the Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS), as well as the Finance Houses Association of Singapore (FHAS).

Since April, banks and finance companies have been providing payment deferrals for individuals and SMEs facing short term challenges in servicing their loan instalments. The various relief measures have helped ease the cashflow pressures faced by these individuals and SMEs, and are set to expire by Dec 31.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook