Credit relief measures to aid SMEs impacted by legislation

Re-Align Framework helps businesses restructure their contracts.

Extended credit relief measures will continue supporting small and medium enterprises (SMEs) affected by the Re-align Framework, the Monetary Authority of Singapore (MAS) announced.

The recent legislation helps businesses impacted by the COVID-19 pandemic in restructuring their contracts.

Earlier measures introduced by MAS and other financial institutions will also remain helpful for real estate investment trusts (REITs) affected by the said legislation.

These measures include deadline extension for distribution of taxable income, increase in leverage limit and deferment of new regulatory measures set by MAS—which provides REITs with greater flexibility in managing cash flows and raising funds amidst a challenging environment.

“The temporary nature of these measures and exclusion of financial contracts from these measures preserves the sanctity of contracts in Singapore, which is a critical feature of Singapore’s attractiveness as an international business and financial centre,” MAS general counsel Paul Yuen said.

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