PRESS RELEASE 2021

UOB Malaysia continues to offer assistance to Malaysians affected by MCO 2.0 and the recent floods

 

Kuala Lumpur, Malaysia, 28 January 2021  – UOB Malaysia remains committed to providing repayment relief to its customers who are affected by the reintroduction of a nation-wide Movement Control Order (MCO 2.0) on 13 January 2021 to curb the resurgence of COVID-19 infections. The Bank is also extending support to the victims of the recent floods in several states across the country.

Customers whose sources of income are affected by either the MCO or the floods can apply for the Bank’s targeted loan/financing repayment scheme1 by 30 June 2021. They can apply for deferment of loan/financing payments, reduction in monthly instalments or an extension of repayment tenures. All applications will be considered on a case-by-case basis. The acceptance of the targeted repayment assistance during this period will not appear in the customers’ Central Credit Reference Information System (CCRIS) report.

As at 31 December 2020, UOB Malaysia received more than 12,000 applications for repayment relief, with an approval rate of 99 per cent2. Given that the current MCO period may present additional challenges to lives and livelihoods, customers with existing repayment assistance arrangements are encouraged to approach the Bank for further assistance if they continue to face difficulties.

Mr Wong Kim Choong, Chief Executive Officer, UOB Malaysia said, “We have and will continue to assist affected customers overcome the challenges of the current trying environment. The Bank will tailor our repayment relief to suit each customer’s specific circumstances so that they can better manage their financial situation and emerge stronger in time to come.”

Customers who are eligible for the repayment relief include:

Individuals
  • Those who have lost their jobs or those who are still employed but have experienced a reduction in income due to the pandemic.
  • The middle-income (M40) group who receive the Bantuan Prihatin Nasional.
  • The lower-income (B40) category who are registered under the Bantuan Sara Hidup or Bantuan Prihatin Rakyat schemes
Small- and medium-sized enterprises (SMEs) in the retail sector
  • Businesses with income affected by the pandemic and the flood, and with existing loan/financing of up to RM150,000.

Medium-sized enterprises in other industries and large corporates that require financial support to overcome difficult circumstances during this period are also encouraged to contact the Bank for assistance.

UOB Malaysia is committed to ensuring an easy and convenient process for customers to apply for the repayment relief. Customers can apply by completing an online contact form on the Bank’s website, call the Bank’s contact centre numbers, or apply in person at its branches. UOB Malaysia wishes to reassure customers that it has implemented the precautionary measures recommended by the government at its premises to ensure the safety of everyone. Customers are advised to visit UOB Malaysia’s website for the latest information on operating hours or specific arrangements for over-the-counter services.

During the MCO, the Bank also encourages its customers to continue using its digital banking services, including UOB Personal Internet Banking, UOB Business Internet Banking Plus and the UOB Mighty mobile app.

For more information on UOB Malaysia’s repayment relief scheme, please visit www.uob.com.my.

 

 

1 Please refer to UOB Malaysia news release: UOB Malaysia remains committed to supporting customers beyond loan moratorium to manage the prolonged impact of COVID-19 pandemic, 16 July 2020.

2 The remaining one per cent were applications under processing as at 31 December 2020.