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Genting Malaysia Bhd v Berjaya Corporation Bhd
UKAF2093 - Financial Reporting
23 Pages • Essays / Projects • Year Uploaded: 2023
As of now, the ongoing coronavirus (COVID-19) outbreak has affected the entire nation since it was declared a worldwide pandemic in the year 2020. (World Health Organization, 2020). It is posing serious threats to many different industries around the world. Many nations suspended their international and domestic travel to stop the spreading of the virus. Hence, it had a significant impact, especially on their tourism and hospitality sectors, which forced them to close down and survive in the zero-customer phase. Unfortunately, due to the tremendous efforts to combat the pandemic, the industry has lost billions in revenue. (Department of Statistics Malaysia Official Portal, 2022). After 2 years passed, according to Prime Minister Ismail Sabri Yaakob, the Malaysian Government has decided to reopen the economy and nation to tourists as of April 1, 2022. Malaysia's borders being reopened will enhance the growth of the economy across all industries (The Star Online, 2022). Still, the hospitality industry's revenue growth remains slow and lower than it was before the pandemic. Due to the current Omicron and Monkeypox outbreak, many are reluctant to leave their homes and are deterred from travelling or dining at restaurants. They prefer to stay at home safely than get infected with COVID-19.
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