The newly-appointed MEDAC Minister, Datuk Seri Dr Wan Junaidi Tuanku Jaafar will take the opportunity to apply the field of study he has undertaken while pursuing doctoral studies, in his new responsibility. The new MEDAC Minister holds a doctorate in business administration from Southern California University for Professional Studies.
“I will try my best to apply my knowledge, match what I have with the facilities already provided by the government to achieve the ministry’s goals,” he said.
Datuk Seri Dr Wan Junaidi report for duty at the Ministry of Entrepreneur Development and Cooperatives on Monday (16 March 2020) while his deputy is Datuk Mas Ermieyati Samsudin.
Responding to MEDAC initiative to help SMEs to combat COVID-19, MEDAC has allowed the borrowers of loans from three financial institutions under its ambit to defer repayments for six months, effective yesterday, if they are affected by Covid-19.
Wan Junaidi said the moratorium initiative, which involves Bank Rakyat, SME Bank and the National Entrepreneur Group Economic Fund (Tekun Nasional), is taken to ease the burden of borrowers who are facing a cash-flow problem due to Covid-19.
The deferment could assist borrowers who have to look for ways to maintain business continuity to enable them to repay their loans as soon as the moratorium period ended.