Risk of further layoffs in small business space

Trying times: A small factory in action. The SME Association of Malaysia’s survey shows that about 40% of SMEs are planning to either lay off staff or reduce their headcount.

PETALING JAYA: While most companies are back in business, the risk of further layoffs remains, particularly for small businesses, as the automatic loan moratorium period comes to a close at the end of this month.

SME Association of Malaysia president Datuk Michael Kang said the loan obligations would add to their burden as many are still grappling with other payments that will be due around the same time.