PETALING JAYA: Large public-listed corporates have fared relatively better in terms of financial performance than the small and medium-sized enterprises (SMEs) amid the Covid-19 pandemic, according to RAM Rating Services Bhd.

       The rating agency said this is due to the financial agility of larger corporates supported by their reserves from robust earnings growth in previous years and the accommodative financing environment.

       As the uptrend in Covid-19 infections wrecked consumer demand and business sentiment, most corporate firms recorded poorer earnings in the first quarter, it said.

       “While improving year-on-year, earnings for the median company in our sample of 722 non-financial Bursa-listed corporate firms shrank 9.6% quarter-on-quarter in the first quarter,” it said.