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Concessions to the Tourism Industry

Concessions to the Tourism Industry

Instructions issued on 30 Jan 2009

LCBs and LSBs are requested to grant following concessions to those institutions in the tourism industry,

  • Grant a moratorium of 6 months from January 2009 to June 2009., in respect of outstanding credit facilities, provided that the hotel company concerned retains the employees at levels prevailing as at Dec 2008
  • Recover the capital and the interest falling due during the moratorium period, from Jan 2010 onwards
  • Waive the penal interest impose on any defaulted credit facility taken.
  • Continue to maintain any non-performing loans in the same category for provisioning purpose, during the six month moratorium period.


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