KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) today urged the government to strengthen the ringgit’s performance to mitigate the cost ...
From left: FMM CEO Datuk Dr Yeoh Oon Tean, vice-presdent Datuk Goh Boon Kim, Soh, vice-president Tan Sri Saw Choo Boon, and vice-president Datuk Dr Andy K.H. Seo during the press conference.The Federation of Malaysian Manufacturers today urged the government to strengthen the ringgit’s performance to mitigate the cost increases experienced by local manufacturers.
“The government, especially Bank Negara Malaysia, must strengthen our ringgit because it is so weak and 55% of the intermediate goods were imported for our processing, are paid using US dollar. If the USD is hovering between RM4.60 to RM4.70, it’s very difficult for the manufacturers to absorb the costs because of the weak ringgit,” he said during a press conference when releasing its ‘Business conditions survey for the first half of 2023’ results.
In view of the weak ringgit against the greenback, companies have also explored using alternative currencies for their imports and exports to lessen dependency on the US dollar.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
FMM: Manufacturing sector in Malaysia to slow further H12023, cautious about rest of the yearKUALA LUMPUR, Sept 11 — The Federation of Malaysian Manufacturers (FMM) said the country’s manufacturing sector slowed down further in the first half of 2023 (1H2023) and with...
Leggi di più »
Manufacturing sector to remain lacklustre in second half, says FMMFMM said with the slowing global economy, the outlook for Malaysia’s manufacturing sector in the second half remains cautious.
Leggi di più »
AKLEH now accepts credit and debit cards for toll paymentsKUALA LUMPUR, Sept 10 — The Ampang-Kuala Lumpur Elevated Highway (AKLEH) is now accepting credit and debit cards as it has started its open payment system trial yesterday,...
Leggi di più »
12MP: Madani inclusive housing project for target groups in major citiesKUALA LUMPUR: The Madani Inclusive Housing pilot project will be developed for target groups in the Federal Territory of Kuala Lumpur and major cities...
Leggi di più »
12MP review: 800 houses to be built in KL, S'gor, Penang under pilot Madani projectKUALA LUMPUR: Some 800 units of houses of various sizes will be constructed in Kuala Lumpur, Selangor and Penang under the pilot Madani Inclusive Housing project, says Datuk Seri Anwar Ibrahim.
Leggi di più »
12MP review: Option of reintroducing GST remains, says RafiziKUALA LUMPUR: Reviving the goods and services tax (GST) still remains an option, says Rafizi Ramli.
Leggi di più »