THE Malaysia International Trade and Exhibition Centre (Mitec), the nation’s largest trade and exhibition centre, will halt its operations temporarily following the unprecedented impact of the COVID-19 pandemic on the business events industry.
In a statement today, its chief executive officer Gunther Beissel also said the management would be retrenching 90 of its employees in view of the tough market conditions.
“This is not a decision that was made lightly, as we did everything in our power to support a safe and sustainable reopening of our venue after the movement control order (MCO) was lifted in July.
“We did everything from implementing robust health and safety measures at our venue, in making a collective commitment to the business events safety protocols for organising events,” he said.
Mitec, which began operations in 2017, has secured 65% of its business for this year and due to the effects of the pandemic, its financial performance has been severely impacted.
Beissel had forecasted a significant financial loss for this year even after taking into account the various cost reduction measures taken.
For now, Mitec is assessing its staffing needs based on future bookings and the local business environment, while continuing to monitor the economic and health situation.
“To this effect, we are implementing a transition strategy which includes the retrenchment of 90 employees.
“As part of our commitment to our clients, stakeholders, and service providers, Mitec is ensuring the sustainability of the business by retaining a core team of nine employees,” said Beissel. – Nov 24, 2020.
