Market sources in Malaysia informed SSESSMENTS.COM that more converters in the country are looking forward to restarting production soon with demand set to improve. Prime Minister Of Malaysia, Tan Sri Muhyiddin Yassin stated that the country’s economy is affected by the Coronavirus outbreak. As such, the Malaysian government approved to allow some businesses in the selected sector to resume production activity. However, it does not mean to loosen the Movement Control Order (MCO) which is extended for another two weeks until April 28 and further extension remains in view. During the MCO, only selected business will be allowed to operate under movement control order and healthcare guidelines.
Related to the matter, a Malaysian converter stated to SSESSMENTS.COM that the company is currently waiting for the government’s approval to continue production that was sent last Friday (April 10). Although, there is no response received yet at the time of this article’s publication. The government will allow more industries to resume production, not only the essentials ones. The converter added that the maximum production capacity was also revised. Previously, the government only allowed the production rate to run a maximum of 50%. However, the operating rate revised up to 70% starting from April 15.
According to the information collected by SSESSMENTS.COM‘s team, the International Trade and Industry Ministry (MITI) has already launched for businesses to apply for approval starting from 9AM (Malaysia local time) via their website. However, the website of MITI crashed on the first day of application for certain businesses to operate during the third phase of the Movement Control Order (MCO), therefore temporarily suspending its business operation application system from 2PM to 4PM on April 13 to deal with the online traffic.
