PETALING JAYA: Lockdowns and manpower shortages have shrunk local small and medium enterprises’ (SMEs) sales by 30%, The Malaysian Insight reports.
The group said current sales figures are even lower than pre-pandemic levels.
SME Association of Malaysia president Ding Hong Sing reportedly said the movement control orders (MCOs) from March 2020 to last year were the main factors for the decline in business.
“SMEs have never been in such a bad state. While the economy has reopened, the lack of manpower and the government’s attitude means we are operating at a loss,” Ding told The Malaysian Insight.
Weak ringgit has also seen business volume decrease by 20% to 30% compared with pre-pandemic days due to higher operating costs, Ding said.
“We can hardly make RM10,000 a month due to inflation, transportation costs and the minimum wage,” Ding adds.
Meanwhile, Koong Lin Loong, chairman of the Associated Chinese Chambers of Commerce and Industry of Malaysia reportedly said banks and government agencies have been giving out low-interest loans to SMEs.
