save malaysia!
Up to 1m Malaysians could face unemployment
savemalaysia
Publish date: Sat, 21 Mar 2020, 07:40 PM
PETALING JAYA: Up to one million Malaysians could lose their jobs if 10% of small and medium enterprises (SME) in the country go bust in the coming months.
SME Association of Malaysia president Datuk Michael Kang said he fears the worst following the global Covid-19 outbreak that has forced Malaysia to impose a 14-day movement control order (MCO).
He noted that many companies were not well-prepared to face the crisis, and were unlikely to survive should the situation see no drastic improvement in the coming weeks.
“If the pandemic is not addressed soon, I would say easily 5% to 10% of SMEs could be forced to close for good.
“This is because they don’t have the financial capability to survive. Most companies only have two months of reserves to cover their operational costs. We can expect to see this happening in the next six months,” he told theSun yesterday.
Kang pointed out that SMEs employ about 10 million workers, meaning the number of those who could face unemployment might increase significantly in the coming months.
“If we are looking at 10%, then up to one million could be out of work.”
Prime Minister Tan Sri Muhyiddin Yassin had on Monday announced the MCO after the number of Covid-19 cases continued to increase.
This has forced all companies that do not fall under “essential services” to temporarily close, with some requiring their staff to work from home while others were told to go on leave.
On Wednesday, economists told theSun that Malaysia would be facing a recession by year-end due to the impact of the global outbreak.
Meanwhile, Malaysian Employers Federation executive director Datuk Shamsuddin Bardan said looking at the current situation, his initial prediction last month that 100,000 Malaysians could be out of jobs could be worse than expected.
“In Singapore, 108,000 people have already either lost their jobs or suffered income losses. In Malaysia, the earlier 100,000 estimate now looks very conservative,” he said.
https://www.thesundaily.my/local/up-to-1m-malaysians-could-face-unemployment-EL2159464
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Discussions
Be the first to like this. Showing 13 of 13 comments
In singapore, the weapon of choice is testing, contact tracing, isolating..........
In Malaysia the weapon of choice is closing down the whole country................
simply shoot.
2020-03-21 23:56
msia no need so many foreigners here,many become hawkers too instead of only working in construction and plantation sectors
2020-03-21 23:57
The Government should cancel the work permit for foreign workers. Give the jobs back to Malaysian.
2020-03-22 09:11
The current economic due to the virus situation is a wake up call for all Malaysians. The present government will have a shirt live rule for they fail to understand that Malaysia is a peaceful nation with multi racial and religious consequences to require care in handling such complex issues.Foreign investors fear to tread on the soil of Malaysia and therefore are seeking other neighboring countries to prosper.
2020-03-23 10:07
NIXXNEXUS shows his positive concern for the Malaysians who are now jobless as more foreign workers are seeking their livelihood in this prosperous nation. But, generally Malaysians are mostly seeking good life without wanting to put in some of their physical efforts to working in the hot and humid sun. They are looking for their enhancements of their lifestyles working in air-conditioned environments and work for higher pays. Unless their perceptions reverse, there will be more foreign works who are prepared to work hard to survive in the coming months and the years to come.
2020-03-23 10:20
get rid of all foreign workers including maids. when they have no makan, they will do anything. I dont believe they will still want to choose to be in aircon room, it is very common nowadays, graduates doing blue collar job, even in developed countries.
2020-03-23 10:30
Give back the job to malaysian.
Many will need job
I go thru 1997 and i just take any job .
Its tough then.
2020-03-23 17:52
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Already many are jobless when almost 3 to 5 million foreigners took over the jobs in Malaysia.
2020-03-21 21:25