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The COVID-19 pandemic, subsequent lockdown and resulting economic shock have tested businesses in Malaysia in an entirely unprecedented way, and their impact is likely to be felt for years to come. But, against this backdrop, IBR data finds Malaysian businesses to be relatively upbeat
Businesses effected by the MCO will take at least one year to recover. Even with help from the Government such as subsidies from the Economic Stimulus Packages, deferring of EPF payments, six-month moratorium on loan repayments, it is unfortunately still not enough for businesses to survive. What businesses need is income.
The business’ concerns must be strictly held accountable but be allowed to operate under the stipulated conditions. If there is delay in implementing the above, we will have numerous business failures, high unemployment and growing pockets of poverty.