+SOLAR foresees no impact on operations due to Covid-19
KUALA LUMPUR: Solar installation company Plus Solar Systems Sdn Bhd (+SOLAR) foresees no impact on its business operations due to Covid-19 in the short run, even though most of its solar photovoltaic panels were imported from China.
Chief executive officer and co- founder Ko Chuan Zhen said however, +SOLAR’s business, as well as those of others in multiple sectors, may be affected in the long run, if the situation does not improve.
“Thankfully, we have ordered in enough ( solar photovoltaic panels) to tide us over for the next few months, ( so) it will not cause any disruption to our business flow.
“We are not sure about the next few months as these challenges were unknown, as we do not know how this virus will develop further and its impact other industries,” he told Bernama in an interview recently.
It was reported that the Covid- 19 outbreak in China could raise solar module prices in the near term, as manufacturers have begun experiencing wafer and solar glass shortages, with the employees being quarantined and unable to return to work on the production lines.
To date, Covid- 19 has infected more than 72,000 people and claimed more than 2,000 lives, mostly in China, while Malaysia has reported 22 cases. — Bernama
SHORT-TERM interbank rates ended stable yesterday on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.
The surplus in the conventional system shrank to RM21.19 billion from RM22.17 billion in the morning, while in the Islamic system, it fell to RM8.92 billion from RM13.70 billion.
Earlier on, the central bank conducted two conventional market tenders and two Qard tenders.
At 4pm, BNM called for a RM21.20 billion conventional money market tender and a RM8.90 billion Murabahah money market tender, both for one-day money.
The average Islamic overnight interest rate stood at 2.72 per cent, while the one-, two- and three-week rates were pegged at 2.79 per cent, 2.83 per cent and 2.88 per cent, respectively.
Thankfully, we have ordered in enough (solar photovoltaic panels) to tide us over for the next few months, (so) it will not cause any disruption to our business flow.
Ko Chuan Zhen