The Federation of Malaysian Manufacturers (FMM) has raised concerns that an indefinite extension to Phase 1 of the National Recovery Plan (NRP) would lead to greater losses for industry players.

In a statement, it said the extension until all three indicators to move to Phase 2 have been achieved was met with great disappointment and despair by the business community, in particular, the manufacturing sector.

It expressed fear over more business shutdowns or downsizing...