KUALA LUMPUR, June 4 — Malaysian businesses are facing increasing cost pressures despite the recent US-Iran ceasefire, as global energy supply disruptions continue to impact electricity prices and operating expenses.
Industry reports indicate that more than 100 furniture factories in Muar have closed in recent months amid rising energy and production costs.
A survey by the Federation of Malaysian Manufacturers found that 72 per cent of manufacturers reported worsening business conditions.
While 28 per cent had adjusted or planned workforce reductions. Darren Tan said businesses are increasingly adopting solar and renewable energy solutions.
To improve cost certainty and reduce exposure to global market volatility.
