The Sabah SME Association says the hospitality industry needs specific help from the state to get back on its feet. FMTNews Sabah
The 5-star Four Points by Sheraton hotel closed on May 31 after being in business for more than seven years.
Its president, Yap Cheen Boon, said the state should have instead released more relief funds for businesses to tap into and to live through this immediate term first, before embracing digitalisation ahead. It has three main thrusts which are to expedite the transformation into a digital economy, expanding economic activities in the agro-food industry and enhancing human resources through creating new jobs.
Another is an allocation of RM59 million for the agriculture sector that contributes RM23 billion as well as non-fiscal measures for the property sector that contributes RM2 billion.“RM20 million was given to upskill the state’s affected workers numbering in the tens of thousands, and lastly RM22 million to help the state’s almost 50,000 SMIs and SMEs.
He said a number of hotels have been forced to shut down while others, particularly the medium and smaller ones, are on the verge of closing due to the economic impact of the MCO.As such, he proposed that the government adopt a business model initiated by the federal government during the 1997 financial crisis in order to help the industry address its mountain of debts.
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