Business events sector records over RM1.5b in losses, says MACEOS

KUALA LUMPUR, March 18 — The country’s business events sector has suffered estimated losses of over RM1.5 billion to-date due to the Covid-19 outbreak, according to the Malaysian Association of Convention and Exhibition Organisers and Suppliers (MACEOS).

In a statement today, the association said nationwide, a total of 47 business events between February and April had been cancelled and 62 had been postponed.

Business events represent the meetings, incentives, conferences and exhibitions (MICE) industry which comprises meetings, incentives, conferences and exhibitions, both at local and international level.

MACEOS, which has set up a special task force dealing with Covid-19 to tackle various issues affecting the industry, urged all industry players to comply with the government’s directives to help contain the outbreak of the disease, including calling off events involving a large number of participants.

It noted that the industry was currently complying with the restricted movement order implemented under the Prevention and Control of Infectious Diseases Act 1988 and the Police Act 1967 from March 18 to 31, 2020, as part of the country’s efforts to contain the disease.

“MACEOS will continue to actively engage with the government and the various agencies to mitigate the economic impact of the outbreak to both our local industry players and the economy as a whole,” it said, adding that the association had proposed various initiatives such as waiving the sales and services tax for convention centres as well as company tax and personal income tax to ease the strain on cash flow. — Bernama

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