The Covid-19 pandemic and ensuing lockdowns like the Movement Control Order (MCO) in Malaysia have impacted the travel and tourism sector badly and it is not unexpected to hear of hotels closing for the time being In Malaysia, the government has provided much needed aid as announced in its economic stimulus packages in light of the pandemic but it may not be enough to save the weaker players in the industry from collapsing.
Even if the Covid-19 Movement Control Order (MCO) ends, don’t expect construction works to resume and progress as per normal.
PETALING JAYA (April 17): The ongoing Covid-19 outbreak has put a large dent on the global economy.
KUALA LUMPUR (April 17): Malaysian Bar president Salim Bashir today cautions that the government's move to arrest and charge Movement Control Order (MCO) violators to seek heavier sentences would lead to more people being incarcerated.
KUALA LUMPUR (April 8): The Malaysian Association of Hotels (MAH) has clarified that its member hotels taking part in the COVID-19 quarantine initiative are well aware of and have agreed to the government’s RM150 room rate subsidy for lending their spaces out to be used as quarantine centres.
KUALA LUMPUR (Apr 8): Malaysians working in Singapore are advised to stay in the city-state for at least another two weeks, instead of coming back home.
KUALA LUMPUR (April 3): Malaysian house prices, relative to income, remain seriously unaffordable, due to a pronounced and prolonged mismatch between demand and supply, stated Bank Negara Malaysia (BNM) in its Financial Stability Review for Second Half 2019 released today.
KUALA LUMPUR (April 3): The Malaysian Institute of Professional Estate Agents and Consultants (MIPEAC) has joined recent calls for the government to provide specific stimulus measures for the real estate industry in light of the prolonged slowdown and the impact of the Covid-19 outbreak and ongoing Movement Control Order (MCO) in the country.
“It was the best of times, it was the worst of times…” The COVID-19 outbreak is dominating every form of media reporting.
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