Malaysia private sector business association members report losses of up to RM500m during MCO
Friday, 15 May 2020 08:22 PM MYTA view of the empty Akleh Highway during movement control order April 8, 2020. — Picture by Choo Choy May
As a short-term solution to mitigate the pandemic’s impact, the study found that the majority of respondents have been forced to look into cost-cutting measures and adjustments of their long-term business strategy, while devising new standard operating procedures to ensure employee safety and well-being during the crisis.
The survey also found that many companies are taking steps to revise their supply chain strategies to ensure future business continuity, and may see some readjustments such as the movement of sourcing lines or shifting of test and assembly operations. “These unique times also open doors of opportunity and the past few weeks have shown the power of collaboration.
She added that the Covid-19 pandemic has necessitated a paradigm shift within the Malaysian economy and society as a whole towards a ‘new normal’.
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