KUALA LUMPUR, Oct 19 (Bernama) — Economies around the world are no longer operating in a benign environment where global trade was somewhat predictable. Since the Covid-19 pandemic, business-related uncertainties have been hurting profit margins as globalisation gives way to slowbalisation, said the Malaysian Timber Council (MTC) Deputy CEO Mr Wong Kah Cane at an Economic Affairs webinar on 8 October 2020.
Wong said the Malaysian timber industry, which benefited immensely from globalisation over three decades, needs to transform its business operations to one that centres on digitalisation, technology, innovation, and branding, if it is to maintain its stake in the nation’s economic pie.