The SME Association of Malaysia says the government should seriously work towards stopping firms from moving out.
Among other things, he said, the investors are not certain as to whether they are allowed to operate during lockdowns or not. He claimed that various chambers of commerce from Europe and the US have indicated that businesses have decided to move out of Malaysia or are in the process of doing so.He said while businesses were told to get approval from the international trade and industry and other related ministries, the process is taking time with some essential businesses failing to get approval to operate.
The current total lockdown, which began on June 1, is set to end on June 14. Putrajaya has yet to indicate if it will be extended. So far, 100,000 businesses have shut down since the first MCO. “Now, if we take another loan to service the two existing ones, it will kill us,” he said, urging the government to subsidise at least 1% of the company loans.
Prem Kumar Shanmugam said internet addiction among children and adults is on the rise resulting in behavioural changes as people are forced to stay indoors during the MCO.
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