The Goods and Services Tax has affected consumer spending and Indian traders expect a drop of between 10% and 20% in business this year.
Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI) president Tan Sri K. Kenneth Eswaran said that likewise, inflation and fuel price hikes also impacted consumer spending.
“We cannot deny that there is a significant impact on sales this Deepavali, particularly on goods which are imported,” he said in a press statement.
“But the lower ringgit will not impact the domestic market.”
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Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI) president Tan Sri K. Kenneth Eswaran said that likewise, inflation and fuel price hikes also impacted consumer spending.
“We cannot deny that there is a significant impact on sales this Deepavali, particularly on goods which are imported,” he said in a press statement.
“But the lower ringgit will not impact the domestic market.”
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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