Kuala lumpur: The strengthening of the ringgit against the US dollar has brought relief to micro, small, and medium enterprises (MSMEs) who see the development as having the potential to reduce business costs and avoid increases in selling prices. Earlier this week, the ringgit strengthened and surpassed the psychological level of 4.00 against the US dollar, continuing the rise that began a week earlier, thus showing a recovery in sentiment towards the country's economic fundamentals and political stability.

According to BERNAMA News Agency, a survey in several states found that the majority of small traders welcomed the development, even though they are still waiting for the actual impact on the cost of imported materials. In Johor, kopi tenggek (drip coffee) entrepreneur in Tanjung Piai, Ghazaley Ayiub, 59, described the strengthening of the ringgit as having a positive impact on his business which uses kitchen equipment imported from China. He said that although he uses a lot of Liberica coffee beans from Johor, the stronger ringgit has indirectly helped reduce the cost of purchasing goods from abroad.

Meanwhile, Rodakafe manager Irwan Latiff said the positive effects of the strengthening ringgit will only be felt if the situation continues for a longer period and the benefits are channelled by manufacturers and suppliers to small entrepreneurs. He expressed hope that the government and relevant agencies can monitor the supply chain more effectively to ensure that the reduction in import costs really reaches small and medium entrepreneurs.

In Terengganu, Kafe CantekSekali operator Rina Rahman, 48, said that 50 percent of the raw materials at her business premises are imported goods and the value of the ringgit will certainly have a huge impact on the operating costs and profits of the business she has been running since 2017. Rina said she also manages stocks strategically, including storing durable goods such as flour and buying other goods in bulk to save on costs.

In Pahang, canteen operator Marina Abbas, 49, also expects a positive impact on the prices of raw materials such as imported rice and meat. Although there has been no major change in the price of supplies at the moment, she believes it will decrease. Hidayat Abdul Halim, 48, also sees the strengthening ringgit as an opportunity to upgrade his business equipment, expressing confidence that the appreciation of the ringgit will make prices more affordable.

In Perlis, most small traders, including Husaimi Hashim, 64, and Abdul Salam Saad, 57, admitted that they had not yet felt the direct impact of the strengthening currency. They remain hopeful that a continued strong ringgit could ease the burden of small traders through reduced material costs.

Meanwhile, in Sarawak, entrepreneurs and small traders are confident that the strengthening of the ringgit will provide room to increase consumer purchasing power, which can indirectly balance and control the increase in the price of goods in the market. Cafe entrepreneur Said Ismail, 67, is optimistic that continued development will bring a positive impact to the local economy.

In Sabah, small traders who depend on raw materials, especially imported goods, are confident that if the ringgit value continues to strengthen, it will be able to reduce their operating costs. Rayner Lo, 45, who runs a food stall, hopes that the positive development can be maintained for a longer period for the people to enjoy the benefits and to reduce costs in the supply chain borne by traders.