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                International Business Group Assignment

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                International Business Group Assignment

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BUSS 3420
SUBMISSION DATE : 20th May 2021

1. MUHAMMAD SHAZARULHAQ BIN MOHD SAID [ 201021841 ]
2. MUHAMMAD NUR KHAN BIN MAZLAN [ 193021653 ]
3. MUHD FADZILLAH SARALFARI [ 192921274 ]
4. MOHAMMAD IMRAN QAYYUM [ 201021837 ]
5. MOHAMAD IZZUDIN BIN MOHD FUZI [ 193021649 ]

LECTURER NAME : MADAM ELINA BINTI MANAN

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The Huanan Seafood Wholesale Market in Wuhan, Hubei, China, experienced an outbreak of a strange pneumonia characterized by fever, dry cough, lethargy, and occasional gastrointestinal symptoms in late December 2019. The first outbreak was detected in the market in December 2019, affecting roughly 66 percent of the employees. After the local health authority issued an epidemiologic notice on December 31, 2019, the market was closed on January 1, 2020. However, thousands of people across China, including provinces such as Hubei, Zhejiang, Guangdong, Henan, Hunan, and cities such as Beijing and Shanghai, were affected by the disease's rapid spread in January. In addition, the disease spread to Thailand, Japan, the Republic of Korea, Vietnam, Germany, the United States, and Singapore. On January 21, 2019, the first case in our country was reported. WHO had identified a total of 28,276 confirmed cases with 565 deaths worldwide as of February 6, 2020, including at least 25 countries. The outbreak's pathogen was later identified as a novel beta-coronavirus known as 2019 novel coronavirus (2019-nCoV), which brought back memories of the 17-year-old severe acute respiratory syndrome (SARS-2003, caused by another beta-coronavirus).

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-Before Covid-19-

Harmoni restaurant is located in bangi and known as Hotel Bangi-Putrajaya, there are many varieties that the hotel which is Malaysia varieties and western. As before the pandemic happen Based on the daily year before the pandemic Covid-19 that affected all the around the world. On Hospitality industry has the factors that driving including of increasing disposable income, new travel trends, increasing online businesses of traveling due to increased internet penetration and internet banking web presence of hotels & tourism directories and most importantly is the biggest firm in the hospitality industry which is Restaurant.

On these firm, the economy in these decade has risen of the largest firm in the hospitality industry. Based on the data from the responses in 6000 restaurant operators across all industry segment and survey of 1000 adult consumers. Based on the data that have impact of sales traffic, Operational trends and workforces’ trends along with consumer phase and intentions. On factors that make a hospitality is risen in decades.

Economic: Before the pandemic happened that affected all around the world, travel and tourism industry gain 3.8 percent in 2018 and was outpacing the global economy which is 3.2 % In that year, the hospitality industry on restaurant firm may seem to be struggling at the moment but seems to be on track to recover as travel restrictions become more relaxed (Insights, 2021)

-During Covid-19-
When the pandemic began in Malaysia in March 2020, all sectors were required to close due to the spreading virus that affected Malaysia and the rest of the world. Even, since the pandemic, some of the food industry has struggled to make a profit, with half of all staff being laid off, with some of the most well-known restaurants facing bankruptcy. In the hotel and restaurant industry. Many restaurant cafes and convenience stores in all states of Malaysia have been impacted by the pandemic, which has caused many businesses to become defunct or dissolved, and each affected store has been putting up a banner stating that the premises is for sale or rent, although some stores have been dissolved a few days prior to the MCO lockdown. However, not all dissolved business placed up the banner yet as their rental contract has yet to be expired. The dissolving of business was attributed to lockdown and curfews which prevents many people from having dinner and supper in restaurants during night time. Which were exacerbate further by high rental fees and landlord's refusal to reduce the rental fees . On the point below is the percentage of the actual on the restaurant industry than before

Workforce: During the pandemic, the restaurant and foodservice industry that projected that provide 15.6 million jobs in 2020, or 10% of all payroll jobs in the economy and make the hospitality firm rise and before the pandemic, the statistic have stated 62 % of fine dining operators and 54% of both family dining and casual dining operators staffing levels are more than 20% below normal (associates, 2021)

A lot of import ingredient transportation is being cut due to MCO period. It is a huge trouble to harmoni restaurant to produce a fine dining on western food menu. The local ingredient also limited in the current MCO state.

New norms:  During the pandemic, all the stores need to closed early than before covid which is need to closed at 10:00 pm and also although some restaurants like hotel restaurant are survived the pandemic impact and has reopened for dine-in, however, it was also reported that many customers were continue to prefer either queuing up for takeaways or using online food ordering system to deliver takeaways to home instead

-After Covid-19-
COVID-19 has negatively affected the financial, health, and mental wellbeing of citizens worldwide. In order to prevent the spread of COVID-19, the Malaysian government has imposed four phases of movement control order (MCO) and recovery movement control order (RMCO) from March 18, 2020, to December 2020. Travel and tourism are known as the focal elements of world economics and financial backbone. Without it, the world economy will suffer tremendously in terms of financial, social, and peoples' mental haphazard aspects in the years ahead (World Travel and Tourism Council (WTTC), 2020). Workforce impact after the pandemic, the hotel bangi industry laid off its workers with further unpaid leave and wage cuts as the sector buckles the effects of the covid-19 pandemic. The firm has estimated a huge amount of revenues loss for the movement control order (MCO) period this also affected the harmoni restaurant because of the restaurant is under the hotel industry. The harmoni restaurant also experienced with massive number of booking cancellations, especially during Fasting month (Ramadhan month) during the MCO period.

Reference

accocietes, n. r. (2021, January 25). State of the Restaurant Industry report measures virus' impact on business. Retrieved from nation restaurant accocietes : https://restaurant.org/articles/news/new-report-measures-pandemics-effect-on-business

Insights, E. (2021). Key Hospitality and Tourism Statistics. Retrieved from EHL Insights: https://hospitalityinsights.ehl.edu/hospitality-industry

WIKIPEDIA. (n.d.). IMPACTED OF THE COVID-19. Retrieved from WIKIPEIDA: https://en.wikipedia.org/wiki/Impact_of_the_COVID-19_pandemic_on_the_food_industry#Malaysia

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-Before COVID-19-
Pizza Hut is an American restaurant business and international franchise created by Dan and Frank Carney in Wichita, Kansas in 1958. Pizza and other Italian-American meals, such as spaghetti, side dishes, and desserts, are available. As of December 31, 2019, the brand had 18,703 stores globally, making it the world's largest pizza chain by number of locations.
Basically everything went well in pizza hut before covid-19 attacks into our country. Right before Covid-19, people can comes to pizza hut no matter when they want, comes store open 24 hours, some 10p.m they close. Still people will love to come to Pizza Hut. Customer comes into pizza hut store, they having a good time, some comes with their family, friends and etc. Pizza Hut store where we all can enjoy every meals, set and combo in there. People also can share food and happiness together.

-During COVID-19-
QSR Brands (M) Holdings Bhd (QSR Brands), the leading food chain brand that operates KFC and Pizza Hut Malaysia is continuing the fight against COVID-19 with an additional Corporate Social Responsibility initiative. This effort aims to lighten the burden of many Malaysians who are affected by this pandemic including those in underserved communities who need daily necessities as well as medical frontliners who require specialised medical equipment.
QSR Brands has set up a donation initiative through KFC and Pizza Hut with the aspiration of raising funds for those in need during these unforeseen times. This initiative is calling out to Malaysians to join raise fund for the Akaun Amanah Khas set up by the Ministry of Health, as well as NGOs, the Malaysian Red Crescent (National Committee for Community Services & Health) and MERCY Malaysia who have been active with COVID-19 relief efforts since the outbreak. By collaborating with these NGOs, the funds raised will be channelled directly to the affected communities including the underserved rakyat as well as the medical community, especially in anticipation of the holy months, Ramadan and Syawal. Through this initiative, Pizza Hut is encouraging Malaysians to join in their efforts to raise funds during this unprecedented period by contributing to this donation initiative to make a difference as caring Malaysians; while they continue to enjoy fresh, hygienic and safe to eat food. Pizza Hut, on the other hand, has launched the Terangi Ramadan campaign that gives Malaysians the opportunity to donate RM0.50 with every Pizza Hut meal purchased via its official website and app. The collated sum will be matched 1 for 1 by Pizza Hut, as part of its commitment to pay it forward and contribute to the fight against COVID-19.
Loi Liang Tok, Head of Pizza Hut Malaysia stated, “ Pizza Hut wants to ensure that we are playing our part and helping the community rise to make it through these difficult times. We launched Terangi Ramadan to stand united with all Malaysians and encourage them to join in our efforts to raise funds towards the cause. At the same time, Pizza Hut wants to increase awareness on this issue with the end goal of providing much needed relief to the affected communities. ”
Since the enforcement of MCO on 18 March, QSR Brands has been actively providing over 27,000 meals to various communities including health workers, firemen, policemen, media, and public service workers at our frontline as well as university students and the underserved communities.

-After COVID-19-
Of course there's consequences because of Covid-19. Pizza Hut has changed their red logo into the 'green logo' its a sign for new ordering service. Because of pandemic. The logo also ease the customer by the change of color was in accordance with the launch of its new WhatsApp ordering service, known as Pizza Hut WhatsApp EasyOrder. The government have give an order and statement, that customer can come to shop but cannot dine in, only can take away. When in the store customer need to wear mask and need to line up each one is 1 meter. The rule is strict to avoid customer got sick. it is better have customer than not to have one like during the government give order to do MCO around Malaysia.

Reference

https://klfoodie.com/kfc-pizza-hut-launches-kita-fight-covid-19-terangi-ramadan-campaigns/
https://www.malaymail.com/news/life/2020/09/07/relax-pizza-hut-hasnt-changed-its-colour.-that-green-logo-is-to-launch-its/1900979

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-Before COVID-19-
Sushi King Sdn Bhd is very synonym restaurant for all Japanese cuisine lovers and become an iconic symbol for Japanese culture in Malaysia.

Was established in 1995, Sushi King was first introduce product is well-known sushi on the kaiten (conveyor belt) or revolving sushi with quick service restaurant concept.

Sushi King has evolved from a single outlet in Kuala Lumpur, to a well grown brand with more 100 over restaurant nationwide and become the largest sushi chain restaurant in the country.

Sushi King Sdn Bhd is a member of the Texchem Group Company, are one of the subsidiaries under Texchem Resources Bhd (Texchem)

Sushi King Sdn Bhd was originated company from Malaysia but deeply rooted in Japan. The founder Tan Sri Dato’ Seri Dr. Fumihiko Konishi, a Japanese born businessman from Nanao has discover Malaysia as a potential market to open up the first Sushi King restaurant in Kuala Lumpur.

For Sushi king Aeon Shah Alam is the 100th outlet in Malaysia was launch in 15th March 2016. Based on the Star online, with the opening the new outlets the Shah Alam, Texchem Resources as the largest contributor eyeing annual sales of RM300mil from 2018 onwards.

-During COVID-19-
Everything has been affected by this epidemic, as the economy has slowed down in terms of revenues and incomes, as well as the labor market, at the public and private levels. Corporations of all fields, including restaurants, like fast food restaurants, which represent the backbone of economic life in the United States of America that haven’t spared from the effects of this epidemic. The fast-food restaurants have been still struggling to stay above the water without drowning. As a result, Covid-19 has been generally bad for the restaurant industry, especially the small fast-food restaurants and profitable for the fast-food giants.

Covid-19 has affected Sushi King a lot. “In the context of the hospitality industry, the restaurant industry is regarded as having a widely embedded, high level of business risk.” (Singal, 2012) which has been severely exacerbated during the pandemic. in fact, as many professional reports have reported that Covid-19 has significantly affected the restaurant industry, with the time that the pandemic spreads on. For Example, according to the NRA (National restaurant association) “nationwide sales were down by 47% during the period from March 1 to March 22; 7 in 10 operators have had to lay off employees and reduce the number of hours worked.” (National Restaurant Association, 2020)

-After COVID-19-
Notably, the Covid-19 pandemic has clearly a variable impact on restaurants. For example; base on the financial characteristics of the company will play a big role in facing emergency and unexpected external events such as Covid-19. Depending on the income, savings, leverage, and cash flow of these restaurants. That is, “given the severely negative impact of the COVID-19 pandemic on firm performance and valuation, a firm’s financial characteristics, such as firm size, leverage, dividend, cash flow, and ROA, are likely to influence investors’ market valuations of the firm in responding to the pandemic.” (Song, Hyoung Ju, et al) So the greater they have the less damage there will be. At the same time, recovery is faster. On the other hand, the lower the restaurant’s income, savings, and benefits, the greater the damage is, and there may be no recovery at all. Also, “under uncertainty as to when COVID-19 damage will be abated, increased operational risks and shortage of liquidity would likely make shareholders consider a possibility of selling stocks they hold, thereby leading to a sharp decline in stock returns of restaurant firms.”

Reference
https://www.thestar.com.my/business/business-news/2019/12/09/unprofitable-sushi-king-outlets-to-close

https://prezi.com/woemx_r-7gpk/sushi-king/?frame=b965ac7bcee83045b859f11880470cb7d37256ce

https://aaronallen.com/blog/restaurant-industry-coronavirus

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As the spread of the virus is likely to continue disrupting economic activity and negatively impact manufacturing and service industries, especially in developed countries, we expect that financial markets will continue to be volatile. There is still a question as to whether this unfolding crisis will have a lasting structural impact on the global economy or largely short-term financial and economic consequences. In either case, it is evident that communicable diseases such as COVID-19 have the potential to inflict severe economic and financial costs on regional and global economies. Because of high transportation connectivity, globalization, and economic interconnectedness, it has been extremely difficult and costly to contain the virus and mitigate the importation risks once the disease started to spread in multiple locations. This warrants international collective action and global investment in vaccine development and distribution, as well as preventive measures including capacity building in real-time surveillance and the development of contact tracing capabilities at the national and international levels. As outbreaks of novel infections are not likely to disappear in the near future, proactive international actions are required not only to save lives but also to protect economic prosperity.