KUALA LUMPUR: Small and medium enterprises (SMEs) in Penang affected by the floods may have to cut employee bonuses, if necessary. Malaysian Employers Federation (MEF) executive director Datuk Shamsuddin Bardan said this is one of the methods employers can opt for to cut back on losses and damages caused by the floods. Shamsuddin added that while the floods have hit many businesses in Penang, it has only been a week and he believes that these businesses are still able to sustain. Affected businesses can obtain financing at a concessionary rate from any commercial bank, Islamic bank and development financial institutions regulated by BNM. “The push factor here is the floods, and the pull factor is that they can move back to their country or to Selangor or Sendayan.

Source: New Strait Times November 08, 2017 12:56 UTC