FBA/PFS3273/AUG20 QUESTION 3 (25 MARKS) The financial impact of COVID-19 in Malaysia "It is without a doubt that the COVID-19 situation has impacted global markets. It is an unprecedented event and many - including businesses - have been taken by complete surprise with the way things have been unfolding. For example, the global aviation sector is forced to scale back their operations as people are no longer travelling. Non-essential businesses including real estate, construction, automotive, travel agencies and retail outlets have been forced to close. Many businesses are now finding it hard to keep up with their monthly expenses. To help ease the burden, Bank Negara Malaysia (BNM) announced a six-month moratorium period for loans and mortgages. However, even with the relief from lenders, it is envisaged that many individuals and businesses will still struggle to make ends meet. It is no longer business as usual, and the seriousness of the domino effect towards the end value chain i.e. households, must be recognized. When households are no longer spending, that's when more businesses start to fail." AICB 25 August 2020 Based on the article extruded from Asian Institute of Chartered Bankers (AICB) dated 25th August 2020 From your point of view as a concerned Malaysian citizen, rationalize how companies survive during pandemic Covid-19 (25 marks)