Sslee blog
Is PN government forcing private companies to declare force-majeure?
Dear all,
When you are doing international business and once S&P contracts are signed the only way to not fulfill the contracts is by force majeure. So is PN government forcing private companies to declare force-majeure? Can Malaysia manufacturers afford to lose their customers till end of March when all your customers will runs to other countries to fulfill their requirement?
Please think in Penang E&E sectors, how many foreign labors are employed and what are they going to do during the partial lockdown period?
Your opinions matter.
KUALA LUMPUR (March 17): The Federation of Malaysian Manufacturers (FMM) said it is in full support of the need to contain the Covid-19 outbreak but said the imposition of the movement restriction on all private companies, excluding essential services, is a drastic move.
In a statement, FMM president Tan Sri Soh Thian Lai said factories producing essential goods, including the supporting supply chain of goods and services and companies that have export commitments, need to continue operations as a total shutdown would have very damaging effects on business and the economy.
“FMM has continued to advise members to remain calm and focused in tackling the adverse impact caused by the Covid-19 and also to continue to ramp up production in the critical goods required such as food items, face masks, sanitisers, disinfectants, pharmaceutical, medical devices and personal protective equipment to support the government in the fight against Covid-19,” he said.
Soh further said that it has requested for all manufacturing activities to continue operations, noting challenges faced by manufacturers with export commitments and operations that run 24 hours a day, seven days a week that are sensitive to sudden shutdowns and restarts, such as kiln and smelting facilities in the iron, steel, aluminium, ceramics and cement industries.
“In this regard, FMM strongly appeals to the government to exempt manufacturing to ensure business continuity and ability to support the economy during such unprecedented challenging times,” he said.
Thank you
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Discussions
Be the first to like this. Showing 18 of 18 comments
The worst is just begin for Malaysia capital market when the PN government forced all non-essential manufacturers to shutdown disregard even those export-oriented E&E sector operate in clean room environment and Palm oil industries where the FFB will rotten on the tree or field and those manufacturers for export market will face huge demurrage charges.
2020-03-17 20:09
Aiyo...special meeting for covid 19 chaired by PM 8 excluded PH states very disappointed...lets hope those states be strong and have sufficient supply to survive the outbreak...karma will hit if any dirty hanky panky trying to disrupt the supply of essential goods to those states...
2020-03-17 20:13
I wonder what are those so-called "technocrats" in the government doing? Incompetence, I think.
2020-03-17 20:15
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
The government may be privy to the seriousness of the Covid-19 epidemic which we are not aware of.
2020-03-17 20:15
I think manufacturers can continue their operation as long as they can commit containment for their workers by providing lodging and food during this 2 weeks! We certainly don't want our exports to be effected! Again, the issue here is containment! 2 weeks unpaid leave for this foreign workers will only worsen things as they will roam around and that's not what we want to see!
2020-03-17 20:16
Dear Datuk Sri,
I ask someone it is the right time to buy dividend and growth stock Magni and VS.
He replied, “Not yet. Lockdown next 2 weeks, every manufacturer are affected. Appealing to authorities to allow us to continue to operate as we are export orientated working mostly in clean room environment. We have 2,500 workers too.
2020-03-17 20:29
politicians don't choose the most efficient path, they choose the path of least resistance................................
me? I think they are ways to get round it, but too complicated for sleepy Muhidin
2020-03-17 21:12
most effective is testing and isolation, including contacts,.....its testing and contact tracing.....
that is the findings by WHO and out of China.....
other measures are optional..........................................
2020-03-17 21:15
https://www.freemalaysiatoday.com/category/nation/2020/03/18/how-a-century-old-indian-muslim-movement-became-malaysias-covid-19-hotspot/
Holding hands, sharing plates
The packed gathering, where guests had to take shuttle buses to sleep at other venues, was attended by nationals from dozens of countries, including Canada, Nigeria, India and Australia, according to an attendee list posted on social media.
There were also citizens of China and South Korea – two countries with high rates of coronavirus infections.
Social media posts show hundreds of worshippers praying shoulder-to-shoulder inside the mosque, while some guests posted selfies as they shared food.
Only half of the Malaysian participants who attended have come forward for testing, raising fears that the outbreak from the mosque could be more far-reaching
Khuzaifah said some of the worshippers who attended the event have since refused to be tested for coronavirus, preferring to rely on God to protect them.
Karim, a 44-year-old Malaysian who attended the gathering and was later tested positive for coronavirus, says the government should have cancelled the event.
“We are a bit disappointed that this outbreak has been blamed entirely on us. That view is unfair. There was no ban on our gathering,” said Karim, who gave only his first name.
“Now I am concerned because I am positive. Please pray for me.”
Dear qqq3,
The worst is not over yet, so please pray for all and stop your attack on OTB
Thank you
2020-03-18 08:35
djia just temporarily up
covid spreading fast in US
New York Times reporter already said Govt in Italy now making decisions who lives and who dies in Italy.
He also said US Govt will be making decisions who lives and who dies in US very soon.
those who continue to party in shares and refused to consider other options will not survive
shares are of no use to you when "others .... with just a Diploma" will decide whether you live or die.
2020-03-18 08:41
sslee thinking of damages only
according to New York Times reporter =>
so decide lah....
sslee dies or philip dies
decision => sslee dies
philip dies or kyy dies
decision => kyy dies
philip dies or spinning dies
decision => philip dies
repeat ad infinitum
2020-03-18 08:44
Haha i3lurker,
Thank for the 50 cents INSAS. So what matter?
I quote the late Steve Jobs Stanford Commencement Speech 2005: “Remembering that I'll be dead soon is the most important thing I've ever encountered to help me make the big choices in life, because almost everything--all external expectations, all pride, all fear of embarrassment or failure--these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.”------
“No one wants to die, even people who want to go to Heaven don't want to die to get there, and yet, death is the destination we all share. No one has ever escaped it. And that is as it should be, because death is very likely the single best invention of life. It's life's change agent; it clears out the old to make way for the new. Right now, the new is you. But someday, not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it's quite true. Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma, which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice, heart and intuition. They somehow already know what you truly want to become. Everything else is secondary”.
https://klse.i3investor.com/blogs/Sslee_blog/2018-04-27-story-h1453402600-GE14_TUN_MAHATHIR_AKU_AKAN_PERGI_TAK_LAMA_LAGI_STEVE_JOBS_STANFORD_COMM.jsp
I can’t hold back myself but cried every time I watched this video. The video had reminded me and everyone that someday we will finally face our own demise from this world. Will we be able to close our eyes and let the breathing slowly stop…?
Will we be full of remorse or regret and keep asking ourselves IF ONLY I had done this or that then we have lived a purposeful life and ready to face our exit with no sadness and regret?
Are we leaving behind the world a better place than when we first found it?
Do we provide our children with more opportunity than we had?
Are we a good man and doing good deeds to our fellow man?
Do we carry out our earthly responsibility and duty ethically, fairly, justly and with dignity and pride?
So please pray for all Malaysians.
2020-03-18 09:02
sslee
been touring several big hospitals past few days
spoke to many high level doctors with Datuk titles
be serious and be careful out there
speak to your family everyday.
Just say Hi will be good even if nothing to talk about.
You will not know whether tomorrow you will be alive or not
2020-03-18 09:07
Malaysian Government just organised a mass event last night when thousands exposed each other to infections at Police Stations throughout the country.
Situation today is even worse than on Monday 16th of March.
Just be careful out there.
Shares are of no use to you when you die.
Just make sure that you do NOT attend any mass event organised by Government of Malaysia.
Just refuse to attend any mass event organised by Government.
Remember this => JUST REFUSE, Just say NO
2020-03-18 09:19
government need to be more bold, details and crystal clear when make some announcement, some of malaysians really confuse after heard the announcement. Action must be aggressively and seriously. Right now, as we can saw 'reborn' government and anwar sides just give the statements. mahathir just keep remain silent and watch this show everyday. he will trigger anytime soon when times it's come on his next game plan whether make another downfall game, remake another government or trigger next GE after this virus goes global gone, mahathir will said a reason this government failed to handle this virus. take granted from the weaknesses, really doesn't care about rakyat. For this present scenes, government on every sides and states need to work together. Just be careful for what everyone wish for.
2020-03-18 10:53
there is China, America.....
https://klse.i3investor.com/blogs/qqq33333333/2020-03-18-story-h1484898657-virus_attack_and_responses.jsp
and then.....there is Malaysia......talk what?
2020-03-18 10:58
Dear i3lurker,
Thank you for your kind words. Yes family is more important than looking at shares market now and by the way I am looking at 40% paper loss on my portfolio. (500k paper loss alone in INSAS)
The movement control order is suppose to limit people gathering but due to poor planning and communication problems it had instead generated mass gathering in police station, super market and etc.
And worst of all many are rushing back to their home town since higher institute/resident schools/factory/office were closed without consideration of outstation students/workers studying/working in Selangor are from other states. Malaysia will see another peak in another week time and this time all hometown/kampong will be infested.
Question remain what will happen after 31th March 2020 will all manufacturers/school/office remain closed? And lockdown continues?
So please pray for all.
Thank you
PS: I am net buyer the last few days. Will stop buying until clearer picture emerge.
2020-03-18 11:36
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Can Malaysia manufacturers afford to pay 14 days demurrage charge for chartered ships, air cargo, Iso-tanks and containers waiting for cargo loading?
2020-03-17 19:33