Investor-cum-philanthropist counts the costs of lockdowns

PETALING JAYA: A blog post by investor and philanthropist Koon Yew Yin with a list of businesses affected by the Covid-19 pandemic has been widely shared.

In the post dated June 27, he said the Yang di-Pertuan Agong will be shocked by the damage done to the economy. He said his list is from data collected from Sin Chew Daily, China Press, and Oriental Daily News.

The following is his blog post on

-> Kuala Lumpur, Johor and Penang: 126 hotels closed.

-> Langkawi, Malacca City: 115 hotels closed.

-> KL: Parkroyal Hotel will be closed for renovation for 15 months.

-> KL: Plenitude closes 3 hotels.

-> KL: Syeun Hotel closed down.

-> Kinta River Front Hotel closure.

-> Tower Regency Hotel closure.

-> Hilton Hotel cuts 2,100 employees.

-> Four Points Hotel closure

-> Expedia lay offs 3,000 workers.

-> Tioman Resort closed.

-> Cold storage supermarket in Petaling Jaya closed down.

-> 100% of tourist agencies are temporarily or permanently closed, causing 370,000 people in the country to lose their jobs.

-> 100% of theatres are temporarily or permanently closed, making 43,000 people in the country jobless.

-> 70% hair saloons closed, affecting the livelihoods of 100,000 people.

-> Colleges, training centres, professional schools are suspended, and more than 10,000 school buses are idling.

-> Casinos, entertainment (centres), KTV, bars, spas, clubs, gyms temporarily or permanently closed.

-> (The lockdowns) Caused one million people in the country to suspend their businesses.

-> National bubble milk tea chains also closed shop one after another, laying off some 25,000 employees.

-> 860,000 domestic college students (affected), (their) employment opportunities are almost zero.

-> The list continues to increase, and those affected include unstated (number of people who are in the) construction (and building industry), supermarkets, and temporary sales.

-> 81% of legal firms are affected.

The Malaysian Bar Council has more than 20,000 members. They are hit by the Covid-19 pandemic much like most economic sectors. Some have to downsize or even close shop.

We urge the government to strongly support those in the professional categories, including law firms, because they constitute the lifeblood of the national economy.