{"id":25869,"date":"2020-06-26T17:02:34","date_gmt":"2020-06-26T09:02:34","guid":{"rendered":"http:\/\/mbam.org.my\/?page_id=25869"},"modified":"2020-06-26T17:02:34","modified_gmt":"2020-06-26T09:02:34","slug":"notification-from-ministry-of-finance-mof-on-advance-payment","status":"publish","type":"page","link":"https:\/\/mbam.org.my\/scholarship\/notification-from-ministry-of-finance-mof-on-advance-payment\/","title":{"rendered":"NOTIFICATION FROM MINISTRY OF FINANCE (MOF) ON ADVANCE PAYMENT"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\">NOTIFICATION FROM MINISTRY OF FINANCE (MOF) ON ADVANCE PAYMENT <\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">We are pleased to inform that the MOF has given special consideration following our appeal (Ref: MBAM\/16\/02\/01\/2020\/05\/14\/155) on the above matter dated 14<sup>th<\/sup> May 2020.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The MOF has agreed for special consideration due to the impact of the COVID-19 pandemic and the Movement Control Order (MCO) as follows:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">Reduction for Advance Payment from Progress Payment at 50% of Physical Progress;<\/span><\/li>\n<li><span style=\"color: #000000;\">The reduction of Advance Payment from Progress Payment must be completed at 85% of physical progress; and that<\/span><\/li>\n<li><span style=\"color: #000000;\">This special provision will be in effect from 15<sup>th<\/sup> June 2020 to 31<sup>st<\/sup> December 2021.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Please refer to Treasury circular PP\/PK2.2 that can be accessed via MOF website: <span style=\"color: #0000ff;\"><u>www.treasury.gov.my. <\/u><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">It is hoped that this special provision will help contractors to improve their cash flow.<\/span><\/p>\n<p style=\"text-align: justify;\">&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Download MBAM Circular <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"http:\/\/mbam.org.my\/wp-content\/uploads\/2020\/06\/MBAM-Circular-101.pdf\" target=\"_blank\">click here<\/a><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Download Letter from MOF <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"http:\/\/mbam.org.my\/wp-content\/uploads\/2020\/06\/MBAM-Kajian-Semula-Pemotongan-Bayaran-Pendahuluan.pdf\" target=\"_blank\">click here<\/a><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NOTIFICATION FROM MINISTRY OF FINANCE (MOF) ON ADVANCE PAYMENT We are pleased to inform that the MOF has given special consideration following our appeal (Ref: MBAM\/16\/02\/01\/2020\/05\/14\/155) on the above matter [&hellip;]<\/p>\n","protected":false},"author":974,"featured_media":0,"parent":0,"menu_order":373,"comment_status":"open","ping_status":"open","template":"","meta":{"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"footnotes":""},"class_list":["post-25869","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/mbam.org.my\/scholarship\/wp-json\/wp\/v2\/pages\/25869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mbam.org.my\/scholarship\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mbam.org.my\/scholarship\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mbam.org.my\/scholarship\/wp-json\/wp\/v2\/users\/974"}],"replies":[{"embeddable":true,"href":"https:\/\/mbam.org.my\/scholarship\/wp-json\/wp\/v2\/comments?post=25869"}],"version-history":[{"count":1,"href":"https:\/\/mbam.org.my\/scholarship\/wp-json\/wp\/v2\/pages\/25869\/revisions"}],"predecessor-version":[{"id":25873,"href":"https:\/\/mbam.org.my\/scholarship\/wp-json\/wp\/v2\/pages\/25869\/revisions\/25873"}],"wp:attachment":[{"href":"https:\/\/mbam.org.my\/scholarship\/wp-json\/wp\/v2\/media?parent=25869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}