Malaysia’s corporate profit falls 6.9 pct in 2020

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Kuala Lumpur

Malaysia’s gross operating surplus (GOS), which consists of corporate profits earned by firms, fell 6.9 percent last year on lower capacity of production, official data showed Tuesday.

The Department of Statistics Malaysia (DOSM) said in a statement that the economic downturn scenario in 2020 was a consequence of economic closure for containment measures such as full or partial lock-downs, physical distancing rules, bans on public gatherings and border closures, which led to a sudden stop in the mobility of individuals and non-essential business operations.—Xinhua

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