The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) poll showed that 73 percent of its members are not happy with the current state of Malaysia's economy.

Conducted between January and February this year, the survey dubbed, 'The Economic Situation on Malaysia' assessed the sentiments of 408 respondents on the second half of 2012.

There is a rise in discontent over the federal government's minimum wage rule, with 69.4 percent of respondents, up 13.5 percent from the first half of 2012, stating that the policy would bring about negative effects on their business.

Nearly two-thirds, or 65 percent, of respondents also did not believe that Budget 2013 can strengthen domestic demand and maintain economic stability.

However, the Chinese business community appear optimistic about Malaysia's economic outlook for 2013, 2014 and 2015.

ACCCIM's socio-economic research committee deputy chief Peck Book Soon said, the business community weren't happy that big government project went directly to the "big boy", leaving out small businesses.

Doubts on 'year 2020' goal

He said, the report also shown that the respondents have cast doubt over the government's goal in achieving high income nation by 2020.

"If you look at this purely from the businessmen's angle, they do have a bit of doubt," he said.

Meanwhile, only 21.6 percent of respondents agreed that government's attempts to move Malaysians out of the "middle-income trap" has shown positive result.

The report said that many small- and medium-industries and entrepreneurs have not benefitted from the various government initiatives.

When asked if the survey includes the question of politics and the general election, Peck said that these issues were too sensitive to be included.

When asked if the community fears of changing government, ACCCIM president Lim Kok Cheong did not give a direct answer, but said that the community will take to the polls in a calm manner.

Lim criticised the government for ignoring ACCCIM's proposal for minimum wages to be implemented gradually ever since 2007  and said the disputes between employers and employees were regretted.

Lim felt that even the country recorded a 5.6 percent increase in economic growth, but not everyone is optimistic about it, in view of the existing economic scenario.

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