PETALING JAYA: With the Covid-19 pandemic ruining most companies’ growth plans, some have scrambled to find other businesses to ensure their survival.
In the case of Malayan United Industries Bhd (MUI), the pandemic has cut deep because the group is involved in sectors that are deemed most vulnerable to Covid-19 such as hotels and retail and to a certain extent, property.
To be sure, the company under the stewardship of group chairman and chief executive officer Andrew Khoo, has been trying to turn around after bleeding for so many years.
Last year, it ventured into the digitalisation space and started investing in startups as a way to find other sources of income.
This venture has shown some positive results to date, Khoo said.
Source: The Star