moratorium
moratorium

POLL: 75 PERCENT OF RESPONDENTS WANT TO EXTEND MORATORIUM

KUALA LUMPUR, 23 SEPTEMBER 2020 - A survey conducted by UCSI Poll Research Centre found that 76.3% from a total of 1,065 respondents want the extension of the moratorium for bank loan repayments until the end of this year or next year. However, 23.7% of the respondents agreed with the end of the moratorium this month.

From the 76.3%, 54.9% of them argued that the extension of the moratorium should be for another three months until the end of this year; while 44.6% want a six-month extension until March 2021 and another 0.5% want the moratorium to be until the end of 2021.

From the 76.3%, most of the respondents (77.6%) reasoned that the extension of the moratorium is crucial to saving businesses and occupations while another 48% see that in the difficult times as of now, it could be a Corporate Social Responsibility (CSR) initiative for all financial institutions in the country.

Additionally, 47.1% responded that this extension might affect the short term and moderate profit for all involved financial institutions but will have a positive impact in the long term perspective.

40.3% of the respondents stated that with the extension of this moratorium, it proves how the current government cares for the public and another 27.6% believes that the financial institutions have enough capital buffer for further extension of the moratorium.

Among the reasons given by the respondents include the announcement of profit by the major financial institutions for the second quarter of 2020 (25.2%) and the probability of financial institutions facing the rise of Non-Performing Loans (NPLs) if the moratorium ends (21.2%). 17.5% of them are not confident with the financial institutions in helping those who are still in need and with the announcement of the moratorium extension period by the United States of America (USA) (7.9%).

In the meantime, 48% of the respondents who agree that the moratorium period to end this month see the probability that the extension of the moratorium will affect the financial institutions and another 47.2% stated that the six-month period given previously is sufficient for the borrower to prepare for the loan repayments.

Meanwhile, 40.9% of the respondents stated that the economy is recovering since the announcement of the Recovery Movement Control Order (RMCO) while 31.3% believe that the banking institutions are willing to help the individuals in need. Another 29% said that the Wage Subsidy Programme by the government is sufficient for the employer to stay in business and 23.8% of the respondents see that the moratorium will affect the ability for the banks to recover and restructure. Another 17.5% highlighted that the banks might strengthen their loan policies after this.

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About UCSI Poll Research Centre The UCSI Poll Research Centre (UCSI-PRC) is a public opinion research company owned by the UCSI Group. Its main objective is to utilise original and scientific research methodologies to investigate and analyse public opinions and attitudes.

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