Malaysian Employers Federation executive director Datuk Shamsuddin Bardan told StarBiz that 2021 has to take into account the 2020 cohort that are coming out of the education system.
PETALING JAYA: The worsening Covid-19 situation that has triggered a second round of movement control order (MCO) in Malaysia has once again cast the spotlight on unemployment.
Businesses are staring at a road full of uncertainties ahead even with the hint of vaccine optimism and as it is, unemployment in 2021 remains jittery.
Many are worried that this MCO, with its possible extensions, would be the straw that breaks the camel’s back.
With the expectations of an economic reset as soon as a massive inoculation can be carried out with the Covid-19 vaccine availability, Malaysia has a herculean task on its shoulders, which is to deal with 764,400 that are currently unemployed and possibly around one million new entrants to the job market.
were touted as recovery plays following the potential dispensation of Covid-19 vaccines.
However, the latest two-week travel restriction starting tomorrow may see lower NFO sales and reduced visitors to Genting Malaysia’s flagship integrated resort, Resorts World Genting (RWG).
Maybank IB Research said it is cutting Genting Malaysia’s financial year 2021 earnings per share (EPS) by 58% following the MCO, which will be enforced in six states, including Selangor and Kuala Lumpur, which are RWG’s key markets.
Individuals from these states will not be allowed to travel inter-state.
“While most of RWG is located in Pahang, where a looser conditional MCO (CMCO) will be reimplemented, we gather that the great majority of day trippers – about 75% of total visitor arrivals – who visit RWG are from Selangor and Kuala Lumpur, ” the research firm said in a note yesterday.
PETALING JAYA: The worsening Covid-19 pandemic, which triggered a second round of the movement control order (MCO) in Malaysia, has once again cast the spotlight on rising unemployment.
palm oil fruit
IN the last several years, the Malaysian plantation industry has been buzzing with robust merger and acquisition (M&A) deals against the backdrop of weak crude palm oil (CPO) prices.
With land scarcity also playing a role, the momentum for M&A activities in the plantation sector picked up in 2020 after slowing down slightly a year earlier.
Companies with excess estates sought to dispose of the assets as they had to deal with depressed earnings and unproductive land usage.
On the contrary, companies with excess cash have been buying over these lands at attractive valuations, considering that soft CPO prices have limited the sellers’ ability to bargain for higher land sale prices.
Setting the standards: Yinson Holdings Bhd have a proven track record in consistently delivering projects on budget and on time.
PETALING JAYA: Decent tender visibility for the coming year bodes well for energy solutions provider Yinson Holdings Bhd amid growing expectation of a recovery in the economy.
The company is relooking the floating production storage offload (FPSO) Limbayong project, which has been revived by Petronas in a joint venture with MISC Bhd
, and another FPSO project in Brazil – Atlanta Phase 2 – by oil company Enauta, with the award expected by end-2021.
Yinson is also exploring a potential redeployment of FPSO Lam Son, which is currently chartered to PetroVietnam, but whose tenure is uncertain after the contract ends on Jun 30 next year.