Malaysian Association of Convention and Exhibition Organisers and Suppliers (MACEOS) has conveyed their dissatisfaction over PERMAI Stimulus Package which are not solid enough to uplift the business event industry.
“The business events industry is already severely impacted, plus we are not allowed to operate during this movement control order (MCO). The PERMAI package did not provide a significant financial stimulus package to help revive the business events industry,” President of MACEOS Francis Teo commented.
Under the financial package, each employee earning less than RM4,000, is entitled for a wage subsidy of RM600. However, this is hardly enough to mitigate cascading impact on businesses which have lost in revenue since the lockdown.
Notably, the business events industry has suffered terrible losses, close to 90 percent loss in revenue, equivalent to RM2.25 billion since the first MCO started in March 2020 in Malaysia.
Many industry players were struggling to stay afloat, utilising various strategies to keep business going, including salary cuts, work from home arrangements, and taking unpaid leave. “We are cutting operations costs as much as possible,” said Teo.
Instead, MACEOS proposed a wage subsidy of 50 percent for those earning up to RM6,000 for three months to mitigate even after operations have resumed after the MCO. Eligible employers must prove 80 percent or more decline in revenue or income compared to January 2020.
MACEOS also hope the electricity and water bill discounts can be more than 10%, wage subsidies, and reduced assessment rates targeted specifically to the business events industry.