KUALA LUMPUR, March 5 (Xinhua) -- An official survey showed Thursday that 63.9 percent of Malaysian companies expected to be impacted by the Middle East conflict, citing shipment delays and significant increases in ocean freight and insurance costs.
The Malaysia External Trade Development Corporation (MATRADE) said in a statement that its specialized survey of Malaysian exporters, conducted to assess the direct implications of the conflict on their business operations, showed that businesses reported anticipated drops in sales, cancellation of orders, and a sharp spike in raw material prices, particularly for plastic materials linked to crude oil amid the conflict.
The survey also showed that 39.1 percent of respondents are currently exporting to the region, primarily to the United Arab Emirates and Saudi Arabia, with many considering market diversification to mitigate risks.
Of the surveyed companies, 53.7 percent are micro, small and medium-sized enterprises, 32.7 percent are mid-tier companies and 13.6 percent are multinational corporations. ■
