COMMENT | Proposals on protecting people and businesses

| The economic disaster following Covid-19 will likely overshadow any other crisis in modern Malaysian history. The livelihoods of Malaysians and the very survival of many businesses in the months to come will continue to be severely threatened.

We, therefore, suggest that there be a moratorium on the repossession of property of residential tenants for at least six months , including for reasons such as non-payment of rent. There can, of course, be certain exceptions to the six-month period such as where the premises are unoccupied, the tenant engages in antisocial behaviour, etc – see the Coronavirus Bill 2020. Likewise, assistance should be given to landlords such as waiver of quit rent and assessment rates.

The employers, on the other hand, should be compensated by the government through tax refunds or other alternative means for the additional 14 days paid leave.Following legislation from Singapore and Australia, we suggest that the monetary threshold for bankruptcy of individuals be increased to a higher value for a period of six months .

We, therefore, suggest that the government subsidise a substantial part of the salaries of workers for the next six months . The value of such subsidies should also be stratified according to industries, whereby the harder-hit ones like tourism, F&B and aviation will receive a larger sum than others.

Following in the footsteps of Singapore and Australia, we suggest that the 21-day timeframe be increased to a longer period for the next six months in order to provide a much-needed buffer for struggling companies. Real property gains tax should be temporarily exempted for the disposal of properties at a consideration price of RM500,000 and below , allowing the lower and middle-class to maximise the value of the liquidation of their properties if they are forced to sell;

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