KUALA LUMPUR: SOME form of “damage control” for the local manufacturing industry is needed to withstand the current global volatility, said Malaysian Employers Federation (MEF) executive director Datuk Shamsuddin Bardan. He said with the manufacturing sector expected to remain soft for the rest of the year, the industry stakeholders felt a soft cushioning policy was much needed. “What we need right now is for the policymakers to maintain policies that are friendly towards employers and business owners,” said Shamsuddin. Malaysian Trade Union Congress (MTUC) secretary-general N. Gopal Krishnam believes that there will be more retrenchments this year. He said lower rankings painted a bigger picture of the Malaysian state of economy rather than just the manufacturing sector under an economic siege.

Source: New Strait Times October 10, 2016 04:41 UTC