Business associations warn more businesses to shutter from Covid-19 economic fallout

The two-decade high 5.3 percent jobless rate in May is reflected in the winding up of business due to the economic fallout from the Covid-19 pandemic, said business associations.

While the associations were unable to provide an exact figure on the number of closures, they believed the worst has yet to come, and they expect the full-blown economic impact will be felt in the fourth quarter of 2020.

SME Association of Malaysia urged the government to...