Analyst: MCO 3.0 to cost Malaysia RM300m daily

The extension of the movement control order (MCO 3.0) currently enforced in several areas to cover the whole country from May 12 to June 7 is expected to cost the country’s economy RM300 million daily.

Public Investment Bank Bhd (PIVB) said MCO 1.0 (March 18-May 3, 2020) was estimated to have cost the economy RM2 billion per day, while MCO 2.0 (Jan 13-26, 2021) RM300 million per day.

“Given the similarities, MCO 3.0 could also see a daily hit of about RM300 million to the economy, particularly from restrictions on contact-sensitive businesses...