SMEs running out of cash

SME Association president Datuk Michael Kang said a lot of SMEs were reluctant to sign the statutory declaration for the subsidy, which will require them to retain the employees for at least six months (three months under the wage subsidy and three months after) with no forced unpaid leave and to retain the wages. He said the SMEs have urged the government to remove the conditions in place to help them survive.

PETALING JAYA: The taps are running dry for small and medium enterprises (SMEs) as Malaysia moves into its fourth phase of the movement control order (MCO) tomorrow.

Quite a number of them had been squeezed to the maximum and were forced to fold because there is just no more liquidity in the company to go on.