My good friend sent me this image below. He is the owner of a factory here in Selangor is classified as a Small and Medium sized Enterprise (SME). As he was unable to continue his production, he had a very frank discussion with his people. All of them agreed to take a 40-50% pay cut instead of the factory needing to retrench some people. However, even this will only enable him to stretch his survivability for a maximum of 3 months. Without a normalisation and at least some revenues, there is no way this factory will be around till end of the year.
Then, I read this news. Article in thestar.com.my International Trade and Industry Minister Datuk Seri Azmin Ali said that the Economic Action Council (EAC) held a meeting with the Prime Minister and this meeting which included Menteri Besar and Chief Ministers have agreed to allow economic sectors that were given permission to operate at full capacity without any time constraints.
Azmin added that the meeting focused on the need to “restart and revive” the overall economic supply chain that would help businesses to “operate fully, rebuild affected stocks, as well as to enable efficient delivery of services and goods to customers”. The government hoped that with these measures, the supply chain of goods and services to meet domestic and foreign demands will now be revitalised. This will help the small-medium enterprises (SMEs). Please do refer here for the full Article in thestar.com.my
I feel we needed to continue normalising amid the current movement Control Order (MCO) Yes, I agree that there are no guarantee that the next wave will not come. However, I do know that it’s a very delicate balance between COVID-19 and the economy. It’s not an easy decision to make and it could go wrong. So, everyone should just put in their mind that social distancing is needed and that masks are really necessary now just for now but for many more months to come.
Anyway, I asked a relative of mine who’s a senior manager in a factory if his factory will be operating soon. He says that the application is vetted very thoroughly. Thus, they are still in the process of providing more information as well as to provide the steps they will take in order to start the production on a full scale. So, I think it’s best to continue relaxing but not to relax the necessary precautionary steps which the factories would need to take. That MONITORING will have to be done too.
Next suggested article: That 70% property price reduction prediction?