Press Conference on ACCCIS Survey on Economic Situation of Sarawak

 

ACCCIS has conducted a press conference on ACCCIS survey report on ‘Economic Situation of Sarawak’ covering the second half of Year 2020 as well as forecast for Year 2021 on 8th January 2021 at Boon Ping Hall.

ACCCIS has received a total of 215, exceeding our original target of 200. Our members throughout the state of Sarawak, including Kuching, Sibu, Simanggang, Miri, Bintulu, Serian, Sarikei, Betong, Kapit, Mukah, Baram, Lawas,
have responded to the Survey.

Objectives of the Survey

The purpose of this Survey is to gather information regarding the assessment of current and future economic and business conditions. At the same time, this could also become the basis or input for ACCCIS’s engagements and consultations with the government and relevant agencies in dealing with the issues and problems encountered by the business community.

The questionnaire was specifically designed to address the main factors which have affected the performance and prospects of the economy and business, especially under the prevailing outbreak of the Pandemic and various types of movement control orders, and to identify the challenges encountered by the businesses.

Amongst the key findings were as follows:

Due to the impacts of the outbreak of coronary disease on the domestic and global economy, businesses are generally pessimistic about the performance of Malaysia economy in the second half of 2020, but maintain a neutral and cautious outlook towards 2021.

Overall, businesses are of the views that the Malaysian economy would remain challenging in 2021 as higher percentage of the respondents (31.2%) are “pessimistic” compared to those being “optimistic” (10.7%). However, more respondents seemed to hold a neutral and cautious view (58.1%).

Fortunately, most businesses could still sustain and overcome the impacts arisen from the outbreak of the pandemic which started almost a year ago. In the second half of 2020, 44.6% of the respondents indicated that their businesses were flat and 14.9% performed well whereas 40.5% reported to have been affected.

As to the forecast of business growth in 2022, 64.2% of the respondents remained cautious and neutral as they expressed concerns over the declining of the consumer demand and the rising operating costs. The overall economy is expected to go through a slow recovery process.

For more details, you may refer to our report prepared. This report will be regarded as a good barometer for our business and economic conditions, as well as the challenges ahead.

ACCCIS will convey the feedback and views received to the government and relevant departments for their considerations. It is hoped that the government, relevant Ministries and agencies would collaborate and work with the Chamber and other stakeholders to provide a stable and conducive environment for businesses.