< Previous18 MASTER BUILDERS JOURNAL #119 Seeing Red The COVID-19 pandemic has brought about economic misery and the worst may not be over as the industry struggles to recover, in view of the spike in COVID-19 cases recently. The value of construction work done in the second quarter of 2020 contracted by 44.9%, amounting to RM19.8 billion (1 st quarter: -6.3 percent), according to the Department of Statistics Malaysia. MBAM had been asking our Government to enact a bill to protect all contracting parties from unnecessary litigations and provide temporary relief for businesses and individuals who are unable to meet their contractual obligations during this period, which is beyond any party’s control. Now that the bill has been passed by the Dewan Rakyat and Dewan Negara, it is hoped that the temporary measures will fall in place. Rehiring Process Cumbersome The current rehiring process involves too many parties at high cost and long processing procedures that take time. From past experience, contractors have to make upfront payments with no money-back guarantees after they fail to get the approval – a deterrent that is not conducive to solving the current labour shortage issue. For a start, it would help if professional bodies or MBAM be allowed to verify the status of the contractors to simplify the process. There is a need to relook at the stringent criteria under the Employment Act and CIDB Act 520. Due to acute shortage of workers that resulted in about 26% of the contractors not being able to operate at full operational capacity, approval of foreign workers should be given first while allowing contractors a period of 6 to 9 months to comply to the said acts. Simplifying legal procedures via a single online integrated system by the Immigration Department without the involvement of any third party will be useful. This is to reduce cost, making it cheaper and faster for contractors to hire workers during this recovery period. Presently, there is a large pool of unemployed foreign workers to draw from; those held at immigration detention camps, left stranded in projects that were forced to stop and also undocumented foreign workers who are still around. Happy reading and stay safe! Yours sincerely, Foo Chek Lee JMW MBAM President From the Desk of Foo Chek Lee MBAM President “ On 10 June, MBAM took over as Chairman of ASEAN Constructors Federation (ACF). In this issue, we will explore how MBAM can move forward in the context of ASEAN and further develop the construction business of our members who are keen to explore beyond our shores. ”MBAM Annual SAFETY & HEALTH CONFERENCE MBAM SAFETY & HEALTH AWARDS & COME & JOIN US FOR THE YEAR 2021! Hi my name is Selamat ! Let’s work together in creating a safe working culture ! Wear proper PPE! MMCOA LIFTING SUPERVISOR TRAINING Claimable Under Scheme SBL SUPERVISOR TRAINING CUSTOMIZED IN-HOUSE TRAINING20 MASTER BUILDERS JOURNAL #119 Cover Feature How do you feel about MBAM being appointed the new Chairman of ACF? I am honoured to represent MBAM as the new Chairman of the ASEAN Constructors Federation (ACF), effective from 10 June 2020. This follows MBAM’s takeover of the Chairmanship from the preceding member association, Indonesian Contractors Association (ICA). I am no stranger to ACF since I have been an active ACF Council Member since 2016 and actively participated in various council meetings and activities by ACF at the international level in Cambodia, Indonesia, Myanmar, Philippines, Singapore and Thailand over the last few years. Prior to MBAM becoming the 12 th ACF Chairman, MBAM past presidents who represented ACF included the late Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay from 1988 to 1991, Dato’ Ir Goh Chye Koon in 2006 and the late Dato’ Patrick Wong from 2006 to 2008. Which areas in particular do you wish to develop to help member countries progress? Tell us about the upcoming goals and/or plans. I believe that there should be no dividing line between us and we should all collaborate and work together for the betterment of the ASEAN construction community. We are currently faced with the challenges brought by the current global coronavirus pandemic, global trade war and multiple other issues that impede our progress. So, my immediate focus is to work together to further strengthen our solidarity among ACF Members and share information on how to overcome these difficult times. We need to fortify our commitment to solidarity, ensuring that members that are less resourced can cooperate and have more opportunities and assistance to take on projects and also ensure that stakeholders in the built environment get maximum value for their investments by monitoring standards of practice within the industry. Let us take this opportunity to also work together to push and promote ‘BUY ASEAN FIRST’. As the New Building Materials and Construction World Magazine has estimated, there will be US$250 billion worth of potential construction works in ASEAN and we hope ACF members can be at the tip of the spear to undertake major roles in the projects. What would you consider to be the next most important milestone/ achievement for ACF? What would it entail? Except for Singapore, it was reported that more than 90 percent of all construction works are still done on-site. It is of utmost importance that contractors look into new off-site approaches that can help to improve predictability and consistency of construction works. This is important due to the impending high cost of construction coupled with shortage of skilled labour and ever-shrinking workspaces. Adoption of automation and digitalisation in the construction industry should be promoted and encouraged to increase productivity and reduce cost while solving labour shortage issues. Any advice or messages you’d like to impart? There is no question that the construction industry – whether in Malaysia or ASEAN nations – have experienced, and will continue to experience negative impacts on their operations because of COVID-19. These impacts include, among others, schedule delays, workforce disruptions, equipment and supply chain disruptions, reduced productivity due to on-site health and safety measures (e.g. social distancing, staggering of work, enhanced sanitary measures, etc.), permit delays or restrictions on new permits, and financing restrictions or cash flow shortages. MBAM President shares his vision and goals for ACF and underlines the pivotal role ACF can play to help the construction industry overcome challenges and achieve continued growth post COVID-19. In Conversation With Foo Chek Lee21 MASTER BUILDERS JOURNAL #119 Cover Feature22 MASTER BUILDERS JOURNAL #119 Cover Feature About the ASEAN Constructors Federation (ACF) The ACF was established as the first regional body to promote and act as a catalyst for the development of a healthy, progressive and competitive industry in South East Asia. It is a regional construction grouping, affiliated to ASEAN as a non-governmental organisation established to promote, strengthen and help realise the aims and objectives of ASEAN specifically in the social, cultural, economic and scientific fields. 1 The birth of ACF was an impetus to closer co-operation and efforts to strengthen historical ties and pool resources for the advancement of the ASEAN construction industry, enabling its members to build a brighter future together and contribute to the pursuance of ASEAN objectives. Beginnings The idea to set up a federation was conceived in 1978. 2 Way back in 1984, MBAM and contractors in five ASEAN countries decided in principle to set up the proposed ASEAN regional construction umbrella during the 21 st International Federation of Asian and Western Pacific Contractors’ Associations (IFAWPCA) Convention in Manila. 3 The formation of this regional umbrella was to provide a platform for dialogue, foster closer co-operation and promote mutual consultation among construction contractors in the ASEAN region while simultaneously consolidating efforts in promoting the export of construction services to countries outside of the region, pooling resources if necessary or desirable, to attain the goals. Through these aims, they hoped the intended group could enhance its construction capabilities through the promotion of joint ventures and joint operations that complement and/or supplement each other’s construction capabilities. This will encourage improvement of construction technology and management as well as construction labour skills and standards through exchange of information and technical know-how, ultimately leading to the advancement of the construction industry in ASEAN. With these aims and objectives, MBAM met with leaders of the contractor associations from Philippines, Indonesia, Singapore and Thailand to draw up the constitution of ACF during the 21 st IFAWPCA Convention in Manila. This culminated to the birth of ACF with founding members Indonesian Contractors Association (ICA); Master Builders Association Malaysia (MBAM) led by the late Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay, the late Siah Kwee Mow and the late Dr Bernard T. H. Wang; Philippines Constructors Association Inc. (PCA) led by Bernardo O. Armena, Alfredo V. Asuncion and Anton C. Kho; The Singapore Contractors Association Ltd (SCAL) led by Tan Eng Leong, Lim Kong Eng, Jimmy Koh, and Vis Liptapaniop, Supachai Wanglee and Aroon Sorathesn. The members signed the constitution on 30 May 1985 in Jakarta, Indonesia and at its inaugural meeting in Jakarta, the late H. E. Kowara (Indonesia) was unanimously elected Chairman of ACF and B. Pramadio was appointed the Secretary-General. Despite significant ongoing challenges, projects that were halted will eventually resume, projects that have been slowed down will return to a more regular schedule and projects that were supposed to start but did not, will be mobilised. The construction industry and its participants should anticipate an eventual return to work but this return will be to a new normal. No one can predict what this new normal will look like. However, the end of the pandemic will undoubtedly lead to a significant increase in claims for delays or increased costs because of the COVID-19 outbreak, lead to changes in scheduling needs and reinforce the need to coordinate and cooperate on all levels of the construction pyramid. It is here that ACF can play a pivotal role to help members and I do hope to hear from everyone, so we may exchange ideas and experiences on how this can be achieved for the overall growth of our industry. MBAM representatives in ACF council23 MASTER BUILDERS JOURNAL #119 Cover Feature Foo Chek Lee is an engineer by profession and at present, is the Director of Pembinaan Mitrajaya Sdn Bhd. He also serves as the President of Master Builders Association Malaysia (MBAM), is a board member of Construction Industry Development Board Malaysia (CIDB) and Construction Labour Exchange Centre Berhad (CLAB). In addition, he is a member of the Government Special Task Force to Facilitate Business (PEMUDAH). On the international front, he serves as the Chairman of ASEAN Constructors Federation (ACF) and is a Board Member of the International Federation of Asian and Western Pacific Contractors’ Associations (IFAWPCA). Prior to joining Mitrajaya Holdings Group, he served with Jabatan Kerja Raya (Public Works Department) for a period of 14 years. To date, he has over 42 years of extensive technical and management experience, which includes all aspects of engineering construction and project management in both the public and private sectors. Notable highlights during Foo Chek Lee’s tenure as MBAM President: — A massive increase in the number of affiliate members and total outreach of the association due to the inclusion of Kin Cho Hong association and other affiliate members. — Foo’s presidency is the longest in recent years due to the postponement of the AGM from June to November 2020 as a result of the Movement Control Order. — MBAM took leadership for IFAWPCA, BIPC and ACF. — Acquisition of land for MBAM in 2016. — The 64 th MBAM Anniversary Dinner recorded one of the highest amounts of sponsorship raised for MBAM’s building, education and corporate social responsibility (CSR) project funds, which totalled RM1.326 million. — Foo was awarded CEO of the Year by Construction Industry Development Board Malaysia (CIDB) at the Malaysian Construction Industry Excellence Awards (MCIEA) on 28 September 2018. — Foo received the CIDB Fellowship Award 2018 at CIDB’s Industry Appreciation Dinner on 2 November 2018. — MBAM successfully hosted the IFAWPCA Convention 2018 in Kuala Lumpur. PROFILE Foo Chek Lee MBAM President 2016-2020 Significant Milestones The paper, ‘A Comparative Study of Financial Structure and Performance of Foreign Construction Companies and Local Companies in Singapore,’ was prepared by SCAL on 1 November 1985. A discussion on the proposal ensued with ‘Agreement on Preferential Short Listing of ASEAN Contractors’ in the same month. This was followed by a deliberation of the paper, ‘ASEAN Competitive Bid,’ at the 2 nd ACF Meeting held in Kuala Lumpur on 16 December 1985. After the 2 nd ACF meeting, the ACF members issued a joint press statement voicing their concern of large-scale awards of many major projects to overseas contractor companies outside the ASEAN region, which would adversely deprive ASEAN constructors of the opportunities to contribute towards nation-building. They urged the ASEAN governments to consider providing opportunities to ASEAN constructors so they may play active roles in development. This appeal led to the signing of the Preferential Short Listing of ASEAN Constructors among the Foreign Ministers of Brunei Darulssalam, the Republic of Indonesia, The Republic of Philippines, The Republic of Singapore, the Kingdom of Thailand and Malaysia on 20 October 1986. The continuous efforts of ACF to be affiliated with the Commission on Industry, Mining and Energy (COIME) in the ASEAN organisational structure was fulfilled when it was granted the affiliation at the ASEAN Standing Committee’s 4 th meeting held from 3 to 5 March 1987 in Singapore. In May 1990, recommendations were considered and adopted at the ASEAN International Symposium on Construction and Development, which was held from 7 to 8 May 1990 in Kuala Lumpur. The recommendations pertained to what ASEAN governments could do to help the construction contractors, what ASEAN construction contractors could do to help themselves and what construction contractors’ related associations and related bodies could do to help themselves. The symposium also identified common problems in the ASEAN region, such as building material price hikes and rising wage levels. The recommendations to these findings were unanimously adopted at the 7 th ACF council meeting and will be submitted to the ASEAN Secretariat and the Governments of ASEAN countries in the future. A study on ‘Impact of AFTA on ACF Member Countries’ was commissioned at the October 2003 ACF Council Meeting held in Singapore. The findings were tabled for discussion during the 20 th ACF Council Meeting held in Kuala Lumpur on 11 June 2004. ASEAN Constructors Federation (ACF) was established on 30 May 1985 with the following objectives. • To provide a forum for dialogue among construction contractors in ASEAN; • To foster closer co-operation among the construction contractors in ASEAN; • To promote mutual consultation among construction contractors in ASEAN; • To unify efforts of the construction contractors in ASEAN. The chairmanship of the ACF is on a rotation basis, and MBAM has been appointed to officially hold the next Chairmanship following the 49 th ACF Council Meeting in June 2020. MBAM will play host to the 52 nd ACF Council Meeting in Kuala Lumpur in late 2021. As of today, eight of ten ASEAN countries are represented in the ACF. For more information on ACF and its activities, visit aseanconstructorsfederation.org References: 1 Television interview of the late Tan Sri Dato’ Yeoh Tiong Lay in Mandarin on Lembaran Minggu (weekly Digest), RTM Channel 2, 23 August 1985. Published in Master Builders Journal, 3 rd & 4 th quarters 1985. 2 Address by the first ACF Chairman. 3 Master Builders Journal, 4 th quarter 1984.24 MASTER BUILDERS JOURNAL #119 Special Feature Businesses across myriad industries worldwide have been gripped by uncertainty since the onset of the COVID-19 pandemic. The closing of country borders, disruption of international trade as well as a temporary ceasing of many domestic business activities have negatively impacted many industries worldwide and the construction industry in Malaysia is no exception. In response to the grave situation, MBAM took swift action, attending a series of meetings and submitting proposals to the relevant ministries and Government-related agencies with the aim to mitigate the negative impact on the construction industry. MBAM Leads the Way25 MASTER BUILDERS JOURNAL #119 Special Feature approved without delay in the July Parliament sitting*. 2. Cashflow Constraints In addition to contractual obligations, contractors also face cashflow constraints due to zero construction activities and no work payments. Overheads and other mandatory regulatory expenses such as screenings for COVID-19, salary and levy payments are at contractors’ own expense, further depleting their cashflow. Some could hardly stay afloat. Among the proposals to the Government were to allow instalment payments for CIDB levies, relaxation of banking facilities, waivers of CIDB accreditation fees, speeding up the release of GST and tax refunds, to allow a price fluctuation clause in new contracts and to consider partial release of retention sums. MBAM also wrote to the Government to delay the recoupment of advance payments and to speed up the progress payments of Government projects, which received positive response. MBAM is grateful that the banking moratorium period were put in place to mitigate financial stress to businesses. 3. Human Resources Screening Tests With the restriction of MCO loosening during the Conditional MCO, more businesses were allowed to operate but with stringent compliance to Standard Operating Procedures (SOPs). Although the onerous SOP is vital as a preventive measure, the cost of meeting this SOP is high and enlarges the cashflow cavity. MBAM raised the issue through PEMUDAH, that the Government should bear the cost of COVID-19 testing for all workers irrespective of whether they are legal or illegal, to safeguard the spreading of the pandemic as these workers also contributed to the growth of our economy. MBAM and REHDA also jointly issued a press statement regarding this expensive mandated screening test for all workers irrespective of nationality before resumption of site operations. Both associations appealed to the government to pay for the screening tests. A letter was also sent to SOCSO by MBAM on the same matter. This was followed by SOCSO’s announcement on 31 May 2020 that they would pay for COVID-19 testing done in designated approved laboratories for local and foreign workers who contributed to SOCSO. SOCSO will also subsidise RM150 for each local or foreign worker registered with SOCSO for tests done at other approved laboratories. Foreign Workers The resumption of works presented another issue. With the closure of the borders, many foreign workers who returned home or new replacement workers could not enter Malaysia and some who were on daily paid wages or T he sudden imposition of a movement restriction, subsequently termed Movement Control Order (MCO), created a ‘calamity’ as there was not sufficient time for most industries to prepare a checkout. The construction industry was also not spared. Construction activities were not considered essential services. As such, they came to a complete halt based on the Government’s order until MBAM highlighted the importance and necessity of construction works that affected health and safety, especially involving public safety. In fact, during MCO itself, the construction industry lost over RM11.6 billion in a month. During the MCOs and RMCO The journey of MBAM in this prolonged MCO began with a fury of meetings with the relevant ministries and government- related agencies, highlighting the plight of the construction industry and submitting proposals to mitigate the distress felt by contractors. Many contractors were concerned about their contractual obligations and the financial constraints. In the various government meetings, MBAM continually emphasised the gravity and impact of the MCO, which caused a domino effect on the construction industry’s supply chain, work progress and the social and welfare impact on workers. Many proposals were submitted during the meetings with or when requested by the Government. The following areas were highlighted: 1. Contractual Obligations As early as mid-April 2020, MBAM proposed that the Government enact a COVID-19 Bill urgently to normalise operations to pre-MCO level and to inoculate the economy and social fabric of the country. This sentiment was echoed by other industry associations. The proposed Bill is necessary to provide respite to the construction industry, to avoid lengthy and costly contractual disputes and to safeguard the industry. Similar to Singapore, MBAM proposed that the Malaysian Government should mediate and ensure that losses and expenses are shared equally. MBAM is hopeful that Bill will be debated and A roadblock to enforce compliance of the Movement Control Order26 MASTER BUILDERS JOURNAL #119 Special Feature paid based on productivity were out of work and may have left for other sectors. This caused a sudden and acute shortage of workers, hindering work progress at sites. MBAM proposed to restructure foreign workers in order to address this shortage with a grant of amnesty to illegal foreign workers who have been here for a minimum number of years with no criminal or ill health records. The Government should also consider foreigners in detention camps and those workers whose companies ceased operations. This temporary stop-gap measure proposed was to reduce over-reliance of foreign workers in the economy, as echoed by the Government, while the industry pushes for automation and digitalisation to increase productivity. MBAM also suggested that the Ministry of Human Resources and CIDB take more aggressive steps to encourage more locals to join the industry with the view that many were expected to lose jobs due to the prolonged MCO. Automation The Malaysian construction industry has the lowest technology adoption compared to other industries. As such, the industry must catch up with other advanced countries so as to export our construction services. For recovery and as a long-term solution, the construction industry has no choice but to adopt automation and embrace digital technologies. Construction companies will become more competitive, efficient and increase productivity as a result, while reducing reliance on foreign workers. However, adoption of new technology is not cheap. MBAM proposed to the Government to initiate a special grant solely for the construction industry to reduce the high cost of acquiring such software and equipment. Businesses who receive the grant must ensure that only locals are trained to use or operate the newly acquired plants or software. Foreign workers are to be assigned to other works if there is vacancy or be terminated and sent home. In addition, reduction or complete abolishment of import duties for new, non-locally-manufactured, high- technology plants/equipment will encourage contractors to invest in them. This will inadvertently increase productivity, save cost, improve work safety and reduce the use of foreign workforce. With increased productivity, employers can afford to pay workers a higher wage and this will encourage locals to join the construction industry. Shortage of Local Skilled Force Some of the present skilled workforce are from the grey population or will be retiring soon. It is known that many locals are not interested to work in the construction industry, which is deemed as a 3D job, i.e. dirty, difficult and dangerous. With the present skilled workforce retiring, there will be an acute shortage of skilled workers. As such, there is an urgent need to train locals who are at present, working in the construction industry. This is to upgrade their skills and to increase their take-home pay. At present, trainings by the government are mainly concentrated on school leavers. Little emphasis is given to existing workers within the industry. Experience has shown that there is no guarantee that school leavers will remain in the industry compared to those who are already working within the industry after the training. Also, trainings given by many training centres and institutions do not meet the requirements of the industry as they have little knowledge on how the construction industry operates. As a result, those trainees could not find employment in the construction industry. MBAM proposed that part of the training grants be given directly to the industry through recognised training centres run by construction-related associations. This is important as the industry knows what they need and the type of training required. The workers will be trained with the latest equipment used in the industry and emphasis will be on practical training, especially on automation and digital technology. Furthermore, the workers can continue to work while undergoing training and chart their career path. This will increase their skills and improve their take-home pay while simultaneously improving work efficiency, productivity and safety in the industry. Also, since they are already in the industry, the chances of them leaving the industry will be slim. 4. Insufficient Projects As the construction industry is involved with more than 190 downstream industries and is the catalyst to revive our economy, having a continuity stream of projects is of utmost importance for the survival of the industry and our economic activities. 5. Launch New Projects, Buy Malaysia First MBAM stressed the need for the Government to relaunch all projects that were kept in abeyance such as the MRT3, KL–Singapore High Speed Rail, JB–Singapore RTS, and the remaining packages of the Pan Boneo Highway. There should also be implementation of other mega projects that have high positive impact on our economy. The government can encourage the private sector to submit proposals based on Private Public Partnerships (PPP) with the Government who will act as guarantor so that more projects can be implemented in a timely and efficiently manner. A reduced finance cost for projects through interest subsidies or government guarantee for project loans to lower the cost and ensure viability is one way to carry out mega projects. Priority should be given to local contractors to spearhead the projects, ensuringusage of local resources, i.e. local consultants, contractors, suppliers and products, etc. In cases where foreign expertise is required, local contractors can hire foreign experts under their payroll. In this case, transfer of knowledge and technology can be easily obtained and ensured. We should learn from our past experiences in the implementation of KLIA and SMART Tunnel projects. 6. Other Issues and Proposals At the early stages, when SOPs were rolled out from the CMCO onwards, MBAM reminded the Government to review the practicality of existing SOPs to suit current situations. There were too many SOPs that contradicted each other and different local authorities have 27 MASTER BUILDERS JOURNAL #119 Prof. Yeah Kim Leng (YKL): Prior to the onset of the devastating twin-public health and economic shocks in 2020, it is noted that the global economy had already weakened substantially in 2019. Global growth had eased to 2.9% in 2019 from 3.6% in 2018. The weakness in global output and trade was widespread with varying causes. These include the escalation in US-China trade disputes, Brexit-related uncertainty in Europe, automobile industry slump in Germany, softening demand in China due to debt-tightening measures and various country-specific weaknesses that lowered growth in many economies, including Malaysia. The coronavirus outbreak that started in Wuhan, China in late December last year triggered an unprecedented lockdown of the capital and several other Hubei cities during Special Feature the January to April period, disrupting global supply chains and collapsing production and consumption. While the outbreak was brought under control and the lockdown lifted in early April, the Chinese economy contracted 6.8% in the first quarter but expanded more than expected at 3.2% in the second quarter. Since February, the virus had quickly spread to the rest of the world with the epicentres shifting from China to Europe, US, Russia and Brazil, with infection rates still rising in many other countries. Several countries, including Malaysia, have reduced the infection rates to levels that allow the re-opening of economies. By end June the reported infections totaled more than 10 million globally with slightly over half a million deaths. Concerns over contracting the virus and public health measures to contain the transmission like lockdown, closed borders and mandatory quarantine of exposed individuals have led to an unprecedented plunge in demand and supply as well as job losses in all the affected countries. It is therefore not surprising that in its June World Economic Outlook (WEO) Update, the International Monetary Fund has revised further downwards global growth in 2020 to -4.9% from -3.0% estimated in its April WEO. It however expects a V-shaped recovery with global growth hitting 5.4% in 2021 or a 0.4 percentage point lower than its a different SOP. There should only be one common SOP for the construction industry and a standard checklist for the authorities to avoid uncertainties. The SOP must also be reviewed from time to time to suit its practicality after consulting industry players. While most private sectors have commenced operations to oil the economic engine, the public sectors are not fully operational and hampered work progress due to slow application approvals from the Government. It is hoped that the public sectors will operate in full capacity in tandem with the private sectors. Government should also upgrade and offer online services, minimise cumbersome procedures for smooth implementation and economic recovery. CSR As part of MBAM’s Corporate Social Responsibility (CSR) initiative, MBAM collected donations from its members within two weeks and contributed RM100,000 worth of medical gowns, face shields and masks to Crisis Preparedness and Response Centre (CPRC) for COVID-19, namely the Kepong District Health Centre which acts as one of the collecting centres for the Government and Hospital Ampang, in a handover ceremony on 30 April 2020. MBAM wish to thank members who have participated in the MBAM surveys. The feedback from the survey is vital for the government to comprehend the ground situation. However, it is the Government’s prerogative to consider the inclusions and exclusions of our proposals. As the voice of the Malaysian construction industry, MBAM will continue to bring to the attention of the government, the requests and plight of the industry and its stakeholders. It is hopeful that the government will roll out more stimulus packages to stimulate the economy. The highlighted issues were also brought to the attention of the Ministry of Works, Ministry of International Trade and Industry and Bank Negara Malaysia. Information correct at the time of writing this article (second quarter of 2020) Q&A — Economic Impact, Stimulus Packages and the Way Forward Recognising the need for strategic business manoeuvres in the current unfavourable economic climate, MBAM sought the views and advice of renowned economist, Professor Yeah Kim Leng, who shared economic insights and business strategies for sustainable recovery, renewal and growth in view of challenges faced by businesses in the adoption of the ‘new normal’ post-COVID-19. ** https://www.inf.org/en/Publications/WEO/ Issues/2020/04/14/weo-april-2020) Q: The COVID-19 pandemic has severely impacted economic activity and a negative growth has been projected for ASEAN-5 by the International Monetary Fund**. What are your views on this?Next >