Weakening ringgit getting to the SMEs

KUALA LUMPUR: Small and medium enterprises (SMEs) are feeling the pinch from the depreciation of the ringgit, claiming there is a significant drop in the buying and spending pattern.

SME Association of Malaysia president Teh Kee Sin said the weak ringgit, coupled with the drop in global oil prices, floods and the latest air tragedy, had led to a reduction of about 20% in consumption pattern.