The ripple effect of the pandemic’s devastation continue to radiate across the country.
As of today, as many as 2000+ restaurants, coffee shops, and eateries have closed down permanently across Malaysia, with many more following suit.
These figures were based on an initial survey released by the Malaysia Singapore Coffeeshop Proprietors’ General Association (MSCPGA) and Malaysian Muslim Restaurant Owners Association (Presma).
MSCPGA president, Ho Su Mong, mentioned that over 80% of their 20,000+ members stopped business operations when the nationwide lockdowns were announced on March 18th.
Since then, about 10% of the businesses have closed permanently.
“At least 10% to 15% have closed shop so far and we expect more to follow suit due to overhead costs, especially high rentals,” mentioned president of MSCPGA, Ho Su Mong.
While many businesses have been shutting their doors, many new ones have also sprung up as well, taking over vacant commercial premises.
Analysts are expecting the recovery to take place eventually, but at a much slower rate, assuming no new outbreaks take place.