Daily economic losses from MCO around RM750m, says CGS-CIMB Research

“As such, we expect each fortnight of MCO implementation to reduce our full-year GDP growth forecast of 7.5% for 2021F by RM10bil, or 0.7 percentage point, ” CGS-CIMB Research said.

KUALA LUMPUR: CGS-CIMB Equities Research estimates the daily economic losses due to the second round of Malaysia’s Movement Control Order (MCO), which takes effect from Jan 13 to 26, at RM750mil.

In its strategy report issued on Tuesday, it said the losses would be higher than the RM200mil incurred under the existing Conditional MCO (CMCO) but significantly less painful than the RM2.4bil lost during the first MCO from March to May last year.