KUALA LUMPUR (April 21): The Associated Chinese Chambers of Commerce and Industry Malaysia (ACCIM)’s think tank Socio-Economic Research (SERC) conducted a survey among business entrepreneurs between April 13 and 21, with half of the 916 respondents indicating they need more than six months to recover from the impact of the Movement Control Order (MCO).
ACCCIM president Tan Sri Ter Leong Yap said the road ahead for businesses remains challenging but stressing that businesses will be able to recover, with assistance from the government.
“While the stabilisation and recovery journey ahead continue to remain challenging but if we persevere and remain focused, as well as with timely facilitation support from the government, I believe that businesses can regain lost momentum,” Ter said.
Meanwhile, almost 90% of respondents expect certain conditions to be imposed even after the MCO is lifted, such as distancing measures, mask-wearing and sanitisation among others to prevent the spread of the virus.
ACCCIM noted 83.9% of respondents agreed to having standard operating procedures (SOP), which indicates the strong commitment of companies in protecting their workers and customers, while 76.2% of the companies surveyed are prepared to comply with SOPs.
However, some small and micro enterprises are not prepared to adhere to the SOPs, it said, citing reasons such as higher Covid-19 prevention costs, the unsuitability of certain workplace layouts to properly enforce social distancing and employees fearing for their health.
Ter said he appreciates the government’s engagement with the chambers and industry associations and hoped that the government will continue to do so, leading up to the lifting of the MCO.
These include the co-sharing of costs through a tax deduction on health costs incurred, setting a clear and transparent SOP, consistent interpretation and enforcement of SOP and continued disinfection operations nationwide.
He also proposed the setting up of an Economic Revival Plan to stabilise the economy and help businesses restart, with SERC to submit a comprehensive Economic Revitalisation Plan to the prime minister and relevant ministries.
The plan includes a reduction in company income tax rate for corporates and SMEs, accelerating e-government services and e-payment, designing a reconstruct, resilience and reimagine package for micro enterprises and SMEs, as well as a rejuvenation of the property sector.
Besides that, the chambers suggested a Strategic National Investment Plan to revive private investment, the reintroduction of the goods and services tax, increasing exports capacity and incentives for reskilling and upskilling of the workforce.
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