Is a 2013 country hit for Barry and Michelle Patterson, taken from the album the sun comes up tomorrow.
So how close is Malaysia, to be singing the Recession Song, might still be debatable, but with Mydin hypermarket, the nation's largest, losing money for the first time since 1957, the thought of Recession is too close for comfort.
The Mydin boss says that for 2017, the giant retailer is not thinking of profits, rather it's ambition is just to have cash flow.
The Malaysian Reserve has the story. Read below :
Mydin Mohamed Holdings Bhd recorded a huge loss for its financial year ending March 2016 (FY16), the first fall in 60 years.
MD Datuk Wira Ameer Ali Mydin said the retail group would be “lucky” to maintain the same figures this year.
The country’s largest hypermarket chain has been profitable with tremendous growth since its inception in 1957, generating an annual policies that have been implemented by the government.
However, last year saw Mydin’s same store sales down by 5%, which accounts for approximately RM150 various reasons — including certain policies that have been implemented by the government.
