OCM Sets Up Special COVID-19 Fund to Assist National Sports Associations
The Olympic Council of Malaysia (OCM) has set up a special fund to provide financial aid to its members, the National Sports Associations (NSAs), who are directly affected by the Covid-19 outbreak.
The OCM recognizes that the pandemic and consequently, the Movement Control Order (MCO), has caused disruption on the sports industry as a whole and NSAs are not spared.
In this regard, the OCM has set aside RM300,000 from its Trust Fund to aid NSAs who are negatively impacted by Covid-19. The fund is aimed at assisting NSAs with their administrative expenses at a time when the cancellation of and inability to organize events in particular have affected revenue streams whilst monthly expenditure remains. NSAs shall be notified as soon as possible on the application process and procedures.
Additionally, the OCM Executive Board has agreed to waive 50% of monthly rental of tenants at the Wisma OCM for the months of April and May 2020.
The OCM will continue to monitor the situation and engage with relevant stakeholders, particularly our members in relation to Covid-19.
Olympic Council of Malaysia
17 April 2020