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M'sian bank turns wary about giving loans to O&G employees

Leaked BSN internal memo orders stricter vetting of creditworthiness of applicants from beleaguered sector

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Published Thu, Jan 21, 2016 · 09:50 PM

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    Kuala Lumpur

    SPARE a thought for oil-and-gas (O&G) employees in these tumultuous times facing: minimal bonuses (if any); job cuts; and, now, tighter credit.

    One Malaysian lender has preferred to err on the side of caution and told its staff to be more vigilant about providing loans to applicants from the sector. Local media reports state-owned Bank Simpanan Nasional (BSN) has tightened the screws on new loans to applicants from the sector and directed that their creditworthiness be vetted more thoroughly.

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