Business owners suffering from losses struggle to secure livelihood

Entrepreneur Sivamalar Ramasamy thought it was going to be a busy and prosperous year for her as she had opened her beauty salon specialising in “gold facials”, waxing and threading in Sentul, Kuala Lumpur last October.

She wanted to withdraw part of her savings from the Employees Provident Fund to keep her business afloat but her application was rejected as contributors were only allowed to make a withdrawal at 50. On June 1, Moo was forced to shut down her business as it started to collapse like a house of cards, when more couples called to cancel weddings and suppliers as well as photographers withdrew their contracts.

“Online weddings are not new, and we have done that a few times. But now we can step it up, ” she added.Many cash-strapped individuals made a beeline for pawnshops right after the country moved into conditional MCO.

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