Trade Relief Programme

Following BNM's moratorium announcement on 24 March 2020, we will be granting an automatic
moratorium to our eligible SME customers* for all types of Ringgit Malaysia denominated trade
loan/financing for a period of 6 months, effective 1 April 2020. During this period, all interest/profit
will be accrued and settlement will commence from 1 October 2020 onwards based on the revised maturity date.

* The opt-out period has ended on 10 April 2020.

Automatic Moratorium
for Trade loan/financing

The relief measures aimed at helping our Trade Customers with temporary cashflow difficulties
amidst the COVID-19 outbreak.

Overview Automatic moratorium on settlement of all trade loans/financing for 6 months for SMEs as defined by BNM.
Validity All trade loans/financing outstanding as at 1 April 2020
(inclusive of those newly created on 1 April 2020).
Features
  • Automatic extension for all trade products except Bankers Acceptance (BA) and Islamic products such as Accepted Bills-i (AB-i)/Trust Receipt-i (TR-i)/Local Bill Purchase-i (LBP-i) that need to be converted to a temporary invoice. Financing/Invoice Financing-i (IF/IF-i) respectively to extend the maturity date. To learn more about IF/IF-i, please refer to these IF Terms and Conditions / IF-i Terms and Conditions
  • For trade products that are extended/ converted, the latest financing rate based on the approved pricing for the respective trade products for the extension will apply.
  • For trade products that are converted to a temporary IF/IF-i line, the accrued interest/deferred profit is to be included into the new financing amount.
  • Customers have the option to opt out from the automatic moratorium.
    If you choose to opt out, please click HERE.
Eligibility
  • Open to all existing SME customers of OCBC Bank.
  • Only applicable to trade loans/financing that are
1. Not in arrears exceeding 90 days as at 1 April 2020.
2. Denominated in Ringgit Malaysia.

For eligible SMEs that wish to opt out of this automatic moratorium arrangement and continue with their payment obligations before the first maturity date of their trade financing, you are required to write in / inform the Bank or alternatively drop us a request HERE by 10 April 2020. Your opt out request will be processed within 3 working days from the date of receipt of your opt out instructions. By electing to opt out, this will be applied to all your eligible trade loans/financing for extension. SMEs that do not opt out or give no indication to the Bank, will be automatically availed the moratorium.

For SMEs / non-SMEs who are not eligible for the automatic moratorium, you are advised to contact your Relationship Manager or drop us a request HERE.

As a guide, you may also refer to the FAQ

Trade Relief Programme
For Further Assistance

Contact us

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FAQ

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