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    • 50,000 Malay contractors shut down their businesses

    By on June 30, 2022

     

    KOTA BARU: Nearly 50,000 Malay contractors were forced to shut down their businesses due to the Covid-19 pandemic, lack of projects, and the sudden increase of prices.

    According to Malaysian Malay Contractors Association (PKMM) deputy president Datuk Mohd Rosdi Ab Aziz, one “factor that made them unable to renew their licences is insufficient funds in their capital account based on their contractor class.

    “The lack of projects has also resulted in them not being able to bear the entire cost required,” Bernama quoted him as saying after he attended the 45th Kelantan PKMM annual general meeting here today.

     
    Rosdi added, most of these contractors cannot run their businesses, neither can they venture into other fields due to financial constraints.
     
    “Some of them are in debt after taking up loans with banks,” he said.

     

     


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