
Federation of Malaysian Manufacturers (FMM) President Tan Sri Soh Thian Lai speaks during a press conference in Kuala Lumpur August 19, 2020. ― Picture by Ahmad Zamzahuri
FMM In The News: MALAY MAIL, KUALA LUMPUR, Wednesday, August 19, 2020 - Hiring in the manufacturing sector nosedived to an unprecedented level in the first half of the year, latest industry survey data revealed, as factories and producers felt the full brunt of the movement control order enforced to contain Covid-19.
Businesses recorded a record slump with activity index falling up to 59 points to 31 in the first half compared to the same period last year, while local and export sales fell 50 points each, the Federation of Malaysian Manufacturers (FMM) said today.
Movement restrictions caused severe supply chain disruptions that wreaked havoc across the sector that accounted for more than a fifth of GDP, forcing employers to cull jobs and freeze hiring.
Employment fell 82 points in federation's Business Conditions Survey. Only six per cent of respondents hired more while 69 per cent reported no expansion.
“The first half of 2020 has been most challenging for Malaysian manufacturers,” the federation said.