Floods cost manufacturers RM200m
BUTTERWORTH: The Penang branch of the Federation of Malaysian Manufacturers (FMM) estimates business losses of more than RM200 million in the recent floods in the northern state.
Its chairman, Datuk Dr Ooi Eng Hock, said more than 1,000 manufacturers were affected.
“We are working together with government agencies, such as the Penang Small- and Mediumsized Enterprise Corporation (SME Corp) and Malaysian Industrial Development Finance Bhd (MIDF), to help those affected by the floods.
“We have set up a helpdesk to help SMEs apply for grants and soft loans to rebuild their businesses. SME Corp and MIDF, through their emergency funds, can provide RM20,000 and RM100,000 soft loans and grants, respectively.
“SMEs need to provide images of the damage suffered, police reports and business licences to our branch or SME Corp offices to apply,” he said.
Ooi said this initiative was part of the federation’s prompt action to boost manufacturing recovery after the floods.
He said FMM would continue to play its role in assisting 3,000 members and nonmembers in the state.
“We would also like to thank the government for its prompt action in assisting the business sector,” he said.
In Permatang Pauh, the state’s farming community has suffered losses of more than RM40 million.
Agriculture and Agro-based Industry Deputy Minister Datuk Seri Tajuddin Abdul Rahman said the amount was based on initial reports from agriculture authorities.
“An initial report by the Integrated Agricultural Development Area (IADA) has estimated losses of RM26 million for the fisheries sector, involving 116 fishermen.
“The report states that 9,680.82ha of padi fields, involving 5,547 farmers, are affected.
“We have assessed the losses in padi farming to be more than RM14 million,” he said after distributing aid to 200 flood victims here yesterday.
Tajuddin said 40 livestock breeders suffered losses of RM404,500. He said they were from Timur Laut, Barat Daya, Seberang Prai Tengah, Seberang Prai Utara, and Seberang Prai Selatan.
“We will conduct a meeting with our disaster management committee, comprising the Agriculture Department and IADA, to provide immediate help for those affected.”
He said the ministry would conduct an assessment of the damage to compensate those affected.
Earlier, he reminded the people to monitor weather reports from the Meteorological Department so that they would be prepared for emergencies.