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Budget 2024: Coffeeshop operators urge govt to address rising cost of doing business

04 Oct 2023 07:28pm
The Malaysian Singapore Coffeeshop Proprietors’ General Association (MSCSPGA) has urged the government to introduce incentives and long-term solutions to address the increasing costs of doing business. Photo for illustrative purposes only - 123RF
The Malaysian Singapore Coffeeshop Proprietors’ General Association (MSCSPGA) has urged the government to introduce incentives and long-term solutions to address the increasing costs of doing business. Photo for illustrative purposes only - 123RF

KUALA LUMPUR - The Malaysian Singapore Coffeeshop Proprietors’ General Association (MSCSPGA) has urged the government to introduce incentives and long-term solutions to address the increasing costs of doing business.

In a statement today, president Wong Teu Hoon said food prices were projected to rise further in the third quarter of 2023 due to reliance on imports for ingredients and the weak ringgit against the US dollar.

"Aside from that, increasing costs on business operations will inevitably further fuel the price hike due to the introduction of minimum wage hike, the increase in utility bills, and others. We strongly urge the government to introduce incentives and long-term solutions to address these issues in Budget 2024,” he said.

Therefore, Wong said the association, which represents over 20,000 coffee shop operators in Malaysia, is requesting the government to table a pro-business budget in the upcoming parliamentary session.

He lauded encouraging headlines that Budget 2024 will focus on the M40 group and the small and medium enterprises (SMEs). - BERNAMA

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Budget 2024
Coffee shop
Business
Economy
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