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Pandemic-hit Chinese firms facing cash crunch, 80pc don't have enough to last six months | Malaysia

Monday, 15 Mar 2021 06:28 PM MYT BY SYED JAYMAL ZAHIID Customers pack food to go at an eatery in Kuala Lumpur March 24, 2020. โ€” Picture by Miera Zulyana Subscribe to our Telegram channel for the latest updates on news you need to know. KUALA LUMPUR, Mar 15 โ€” Most local Chinese businesses and industries have insufficient cash flow to cover operations, inventory and staff costs for the next six months as the prolonged Covid-19 pandemic and movement curbs took a heavy toll on revenue. The Asso...
Kuala Lumpur Muhyiddin Yassin Miera Zulyana National Security Council Kuala Lumpur March Associated Chinese Chambers

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Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) SMEs committee chairman Koong Lin Loong says โ€œWe did a survey and found that SMEs canโ€™t survive more than four months with no cash flow. Generally, they can only do three months. Those that can survive six months and above are rare." JUST when businesses thought 2020 was done and dusted, the resurgence in Covid-19 cases and the reimposition of stricter movement controls may have brought about a sense of deja vu. Many ...
Koong Lin Loong Datuk Michael Kang Entrepreneurship Development Federation Of Malaysian Manufacturers Association Of Malaysia Cooperatives Ministry

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