{"id":474,"date":"2020-06-28T09:06:28","date_gmt":"2020-06-28T09:06:28","guid":{"rendered":"http:\/\/holidaysabah.com\/?p=474"},"modified":"2020-06-28T09:06:30","modified_gmt":"2020-06-28T09:06:30","slug":"satta-urges-banks-to-extend-loan-repayment-moratorium-beyond-sept","status":"publish","type":"post","link":"https:\/\/holidaysabah.com\/?p=474","title":{"rendered":"SATTA urges banks to extend loan repayment moratorium beyond Sept"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>KOTA KINABALU: The Sabah Association of Tour and Travel Agents (SATTA) hopes all banks will extend the COVID-19 loan repayment moratorium period to further three to six months after it ends in September.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/holidaysabah.com\/wp-content\/uploads\/2020\/06\/WinstonLiawHS.jpg\" alt=\"\" class=\"wp-image-475\" width=\"196\" height=\"228\" srcset=\"https:\/\/holidaysabah.com\/wp-content\/uploads\/2020\/06\/WinstonLiawHS.jpg 800w, https:\/\/holidaysabah.com\/wp-content\/uploads\/2020\/06\/WinstonLiawHS-259x300.jpg 259w, https:\/\/holidaysabah.com\/wp-content\/uploads\/2020\/06\/WinstonLiawHS-768x890.jpg 768w\" sizes=\"auto, (max-width: 196px) 100vw, 196px\" \/><\/figure><\/div>\n\n\n\n<p>Its chairman, Dato\u2019 Seri Winston Liaw (pix) said the extension was needed because September will be a critical month for business owners to decide whether to wind up their companies or not.<\/p>\n\n\n\n<p>\u201cAs our country\nhas contained the COVID-19 effectively, we expect the economy will start\nturning around in September.<\/p>\n\n\n\n<p>\u201cHence, banks should\nnot hinder the recovery by terminating the moratorium, as such act is akin to\nrubbing salt into the wound and adding oil to fire,\u201d Liaw said.<\/p>\n\n\n\n<p>SATTA warns\nthose banks insists on ending the moratorium might face adverse effect as their\nexisting clients might approach other banks to redeem their existing loans.<\/p>\n\n\n\n<p>\u201cThis might\ntrigger a \u2018bank run-out\u2019 if many of the customers start running away from the\ninconsiderate bank attitude.<\/p>\n\n\n\n<p>\u201cSuch scenario\nis similar to the Chinese proverb \u2018sending charcoal during winter season,\nreceiving dripping water to save lives to reward by free flow of spring water\u2019,\u201d\nLiaw asserted.<\/p>\n\n\n\n<p>Therefore,\nSATTA urged those banks who have decided not to extend the COVID-19 moratorium\nto reconsider their moves for bilateral benefits.<\/p>\n\n\n\n<p>\u201cThe termination of the loan repayment moratorium will be wasting the government efforts in reviving the country economy,\u201d he pointed out.-HS<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KOTA KINABALU: The Sabah Association of Tour and Travel Agents (SATTA) hopes all banks will extend the COVID-19 loan repayment moratorium period to further three to six months after it ends in September. Its chairman, Dato\u2019 Seri Winston Liaw (pix) said the extension was needed because September will be a critical month for business owners&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-474","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/holidaysabah.com\/index.php?rest_route=\/wp\/v2\/posts\/474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/holidaysabah.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/holidaysabah.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/holidaysabah.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/holidaysabah.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=474"}],"version-history":[{"count":2,"href":"https:\/\/holidaysabah.com\/index.php?rest_route=\/wp\/v2\/posts\/474\/revisions"}],"predecessor-version":[{"id":477,"href":"https:\/\/holidaysabah.com\/index.php?rest_route=\/wp\/v2\/posts\/474\/revisions\/477"}],"wp:attachment":[{"href":"https:\/\/holidaysabah.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/holidaysabah.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/holidaysabah.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}