(This article and its headline have been amended.)

KUALA LUMPUR (April 23): The Malaysia Retail Chain Association (MRCA) has set up the MRCA MCO Action Bureau to combat the adverse impacts of Covid-19 on the nation’s retail business.

In a statement, the retail association said the bureau will work with the government and all related agencies on stimulus packages, as well as implement tangible and intangible measures to address pressing issues and challenges faced by its members.

The bureau will also engage with MRCA members to better understand their difficulties and provide the appropriate advice and assistance during this period. This includes making suggestions and helping members find interim and alternative solutions.

It will also work with financial institutions when it comes to MRCA members being able to secure loans and other means of financial assistance, as well as championing initiatives with non-governmental organisations to create mutual benefits, said MRCA.

Additionally, it will advise MRCA members on business continuity management measures as well as help them when it comes to legal, taxation, accounting and financing matters.

“Recognising that there are short-term, mid-term and long-term effects for recovery, the bureau will strive hard to meet its objectives. The aim is to help MRCA members to sail through this difficult phase,” the association said.

MRCA said the new bureau will be composed of three groups, including the Eminent Advisory Group, whose members will be drawn from the association’s presidential council and advisors, as well as notable entrepreneurs.

The Bureau Working Committee, meanwhile, will be composed of council members, business and operational personnel, while Professional Advisors will comprise officials from the legal, taxation and accounting fraternities.

“Many member businesses have already informed the MRCA that they have been adversely affected prior to the setting up of the action bureau. Due to the ongoing MCO, the MRCA has already started their engagement strategy with their members by having regular forums and discussions via online web services,” said MRCA.

This engagement will soon be taken over by the new bureau and will continue to proceed as such until they are able to meet members face to face, the association said.