The_King Posted May 1, 2020 Share Posted May 1, 2020 Over 2,000 people have lost their jobs in Penang since the start of Covid-19 outbreak. - NSTP/File pic GEORGE TOWN: More than 2,000 people have been laid off in Penang since the start of the Covid-19 pandemic. Deputy Chief Minister II Dr P. Ramasamy, who is also state Economic Planning, Education and Human Resources, Science, Technology and Innovation Committee chairman, said while exact figures are unknown given changing circumstances, two garment factories have closed down, affecting more than 2,000 workers, mainly foreigners. However, he said Invest Penang, the state government's principal agency for promotion of investment, is trying to get the retrenched workers absorbed by other companies, by engaging them in training schemes. "The full effect of the pandemic might not be seen, but with normalcy slowly creeping in, Penang hopes to mitigate the worst effects of the virus. "Since Miti (the International Trade and Industry Ministry) has given the green light for companies offering essential services to commence operations, we hope things won't get bad," he told the New Straits Times when asked on the number of retrenched workers in the state since the virus swept the world. It was reported last month that following clothing company Esquel Group's announcement to exit Malaysia, another Hong Kong apparel company plans to do the same. The 70 year-old TAL Group announced it will cease operations of its two Malaysian factories, Pen Apparel in Penang (PAP) and Imperial Garments (IG), in Ipoh. Chief Minister Chow Kon Yeow had recently said Penang will set up a task force on "Economy New Normal" to identify "new normals" which could be introduced after the Movement Control Order (MCO) is lifted. He said that it is undeniable that the Covid-19 pandemic has impacted the state economy. In his Labour Day message earlier today, Chow vowed that the state government will help those who lost their livelihoods during the pandemic. He said the Penang Career Assistance and Talent Centre, or CAT Centre, has begun data gathering for business matching and placement for employees of the two garment factories. "The state government will also see to the needs of those impacted by the closure of operations soonest possible," he added. https://www.fool.com/investing/2020/04/30/mcdonalds-stock-rises-despite-q1-sales-drop.aspx 1 Link to comment Share on other sites More sharing options...
XianGe Posted May 1, 2020 Share Posted May 1, 2020 The longer Din close shop more will die... Link to comment Share on other sites More sharing options...
stemcell Posted May 1, 2020 Share Posted May 1, 2020 sian actually planning to buy penang house for investment. now must tahan a bit Link to comment Share on other sites More sharing options...
socrates469bc Posted May 2, 2020 Share Posted May 2, 2020 (edited) 12 hours ago, stemcell said: sian actually planning to buy penang house for investment. now must tahan a bit wait for those lelong properties. sure will have bargain but make sure to get the bank to let u have viewing first to prevent untoward incident. my favorite is this kgk who bot an upmarket kl apartment without viewing only to find that the previous owner was chopped up in the fridge. https://www.asiaone.com/News/AsiaOne%2BNews/Crime/Story/A1Story20110805-292868.html Edited May 2, 2020 by socrates469bc 1 Link to comment Share on other sites More sharing options...
The_King Posted May 2, 2020 Author Share Posted May 2, 2020 Wtr Link to comment Share on other sites More sharing options...
stemcell Posted May 2, 2020 Share Posted May 2, 2020 8 hours ago, socrates469bc said: wait for those lelong properties. sure will have bargain but make sure to get the bank to let u have viewing first to prevent untoward incident. my favorite is this kgk who bot an upmarket kl apartment without viewing only to find that the previous owner was chopped up in the fridge. https://www.asiaone.com/News/AsiaOne%2BNews/Crime/Story/A1Story20110805-292868.html Penang very hard lelong a bit like Singapore... But things r hard now... If they throw price I also dare not buy... Because msia bank don't want loan... Link to comment Share on other sites More sharing options...
socrates469bc Posted May 2, 2020 Share Posted May 2, 2020 1 hour ago, stemcell said: Penang very hard lelong a bit like Singapore... But things r hard now... If they throw price I also dare not buy... Because msia bank don't want loan... best forward indicator to look at ura caveats. when u see a prime district 9 condo selling for a 30% loss after 13yrs, u know something is really really wrong in the market. now is buyer's market for at least next 2 yrs. wahahahhahah https://www.edgeprop.sg/property-news/seller-cityvista-residences-unit-incurs-199-mil-loss 1 1 Link to comment Share on other sites More sharing options...
The_King Posted May 2, 2020 Author Share Posted May 2, 2020 1 hour ago, socrates469bc said: best forward indicator to look at ura caveats. when u see a prime district 9 condo selling for a 30% loss after 13yrs, u know something is really really wrong in the market. now is buyer's market for at least next 2 yrs. wahahahhahah https://www.edgeprop.sg/property-news/seller-cityvista-residences-unit-incurs-199-mil-loss @HarrisY FYI since it the buyer market, get a condo cheaply as your fun house to piak all the ATB Link to comment Share on other sites More sharing options...
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