KUALA LUMPUR, May 7 — UDA Holdings Bhd has introduced three key initiatives, comprising rental discounts of up to 20 per cent, a moratorium and utilities cost relief, to help traders operating in shopping complexes and commercial buildings under its ownership and management amid the global supply crisis.
Entrepreneur and Cooperatives Development Minister Steven Sim said rental discounts would be in two categories — a 10 per cent discount for all tenants and an additional 10 per cent targeted discount for micro, small and medium enterprises (MSMEs) under the UDA Entrepreneur Incentive programme — from this month to December.
He said UDA is also implementing a moratorium to ease MSME cash flow by offering more flexible monthly rental payments, including allowing arrears of up to three months for affected tenants, based on performance assessments and operational needs.
In addition, utility cost relief will be provided through the deferment of increases in operational service charges at complexes, with UDA absorbing the additional costs, thereby indirectly reducing MSMEs’ operating expenses.
“UDA is expected to bear costs amounting to RM12.5 million to implement these measures for traders and MSME entrepreneurs,” he said in a statement today.
On Tuesday, Prime Minister Datuk Seri Anwar Ibrahim ordered that rental rates for business premises under federal government agencies, such as MARA and UDA, be lowered from this month to help small traders lower their operating costs.
Anwar said the move is part of the government’s efforts to assist traders and hawkers affected by the ongoing global supply crisis.
