As of April 24, some market players in Malaysia reported to SSESSMENTS.COM that companies in the country have received approval from the government to resume operation. According to the players, the number of companies gaining permission increases although the MCO is extended again for the third time to May 12.
The companies are only allowed to operate at minimum operating rate, at and below 50%. SSESSMENTS.COM’s sources previously mentioned that converters can submit a request of approval to run at 70% of production rate. However, not all requests were granted. So far, none of the SSESSMENT.COM’s sources is operating above 50%. In the property industry, even though a lot of converters are applying for permission, most of the applications were rejected.
As of April 22, a total of 19,077 construction companies and those from the industry applied to operate during the Movement Control Order (MCO). However, the Ministry of International Trade and Industry’s (MITI) rejected 7,387 of the applications and only allowed 1,856 to operate.
Click below to view related stories and content on Malaysia market:
Alwaysfree: Malaysian Govt Has Not Decided On Eid Al-Fitr Holiday Postponement
