THE Association of Accredited Advertising Agents Malaysia (4As) will reduce and waive its annual membership levy for 2020 by between 25 and 100% to lessen the impact of Covid-19 on its 60 home-grown and international member agencies.
According to 4As, agencies with annual revenue of less than RM3 mil would be granted a levy reduction of 100% while those with annual revenue of RM9 mil and above will be granted a levy reduction of 25%.
“All other member agencies will receive either a 50% or 75% levy reduction, depending on their revenue tier,” it said in a statement today.
Its president Andrew Lee said 4As would forgo an estimated 55% of its 2020 income derived from membership levies, as a result of the reductions.
“Covid-19 and the resulting extended movement control order have put agencies in a position of making decisions that we have never made before.
“Our clients are also facing the same challenges and pressures and we are committed to helping them navigate uncertainty, pivot plans quickly and to offer them support,” he added. — April 29, 2020, Bernama
