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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.
Malaysian businesses – both big and small - are severely impacted by the double whammy arising from curtailed operations during the Movement Control Order and the downward spiraling economy worldwide. Employees Provident Fund (EPF or KWSP) is one Authority which could and should do more for the SMEs and the overall Malaysian Corporate Sector.