The Malaysian Pulse
Beat of the Nation
Sat, 4 Apr 2020, 7:15 PM
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150 new Covid-19 cases in Malaysia, tally at 3,483
KUALA LUMPUR (April 4): The Ministry of Health (MoH) announced 150 new confirmed Covid-19 cases, bringing the tally to 3,483 in Malaysia.
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AirAsia launches SOS campaign to help merchants amid Covid-19 crisis
KUALA LUMPUR (April 4): Low-cost carrier AirAsia Group Bhd has launched a campaign to help local businesses that are facing challenges during the Movement Control Order (MCO) period.
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Compelling Covid-19 screening
The Covid-19 outbreak continues to dominate our everyday lives, with the Movement Control Order (MCO) announced on March 16 severely restricting our capacity to carry out tasks that, until so recently...
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Lembah Pantai has highest number of Covid-19 cases; Jerantut, Batu Pahat now...
KUALA LUMPUR (April 4): Two new areas — Jerantut and Batu Pahat — are now considered red zones as the number of confirmed Covid-19 positive cases there exceeded 40.
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Extraordinary times require extraordinary economic actions
Much as I opposed the political coup that brought in the current regime, I want to be as bipartisan as possible to ensure the government would make the right call in this time of Covid-19 pandemic.
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China mourns thousands who died in country’s coronavirus epidemic
CHINA yesterday mourned the thousands of “martyrs” who have died in the new coronavirus outbreak, flying the national flag at half mast throughout the country and suspending all forms of entertain...
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Wall Street Week Ahead: Investors look to coronavirus data to support stabilising markets
NEW YORK, April 4 — Investors are parsing a broad range of signals, from infection counts to more traditional indicators, for clues on the trajectory markets may take in coming weeks as the pandemic...
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F&B operators navigate through MCO to sustain business
AS the Movement Control Order (MCO) enters its 18th day today, food and beverage (F&B) businesses across the country, from cafe and restaurant owners to big-name fast-food outlets, manufacturers and r...
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Indian officials warn of lockdown extensions as Covid-19 cases in South Asia near 6,000
THE number of confirmed new coronavirus cases in South Asia neared 6,000 yesterday, even as authorities in some cities tightened restrictions on movement and warned lockdowns could be extended in a bi...
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MARC: Support from private sector crucial
KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) concurred with Bank Negara Malaysia’s (BNM) subdued outlook for the Malaysian economy in 2020. KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) concurred with Bank Negara Malaysia’s (BNM) subdued outlook for the Malaysian economy in 2020.
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With over a million coronavirus cases, economic freefall looms
GLOBAL cases of the new coronavirus have shot past one million with more than 53,000 fatalities, a Reuters tally showed on Friday, as death tolls soared in the United States and western Europe while t...
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MARC: Private bank support crucial to cushion Covid-19 impact after BNM’s subdued forecast for Malaysia
KUALA LUMPUR, April 4 — The Malaysian Rating Corporation Berhad (MARC) said private banks could play a crucial role in propping up Malaysia’s economy that has been severely affected by the Covid-1...
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Bursa to see range bound trading next week
KUALA LUMPUR: Bursa Malaysia is expected to continue its range-bound trading between 1,320 and 1,350 next week as volatility remain high in the market.
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Malaysian ringgit may stabilise against US$ next week
KUALA LUMPUR: The ringgit is likely to trade relatively stable against the US dollar next week at a range level of between 4.25 and 4.45, said FXTM’s market analyst Han Tan
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Platts Market Insight: Oil output cuts inevitable, but at what price?
OIL is witnessing an unprecedented, simultaneous demand and supply shock that has the potential to send prices further down as the world runs out of space to store supplies coming to a market that has seen demand crash due to the coronavirus pandemic.
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Beyond economic data
Impact on household incomes likely to be more significant than the contraction in the economy
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Noripah Kamso’s tenure as Bank Rakyat chairmn has expired
THE tenure of Datuk Noripah Kamso as chairman of Bank Rakyat and all other positions held as chairman of the Bank Rakyat Foundation expired effective today.
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My Say: The dynamics needed to dislodge Malaysia from its race fetish
Malaysian politics is largely racial.
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Palm oil futures to remain sluggish next week
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to remain sluggish next week as weaker demand continues to weigh on prices
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Bank Negara: Banking system can withstand ‘extreme shocks’
ALTHOUGH much uncertainty prevails amid the current global Covid-19 virus outbreak, the Malaysian banking system remains resilient, thanks to strong capital buffers - a result of prudent measures - undertaken over the years.
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Hope for the best, prepare for the worst
SINCE Malaysia went into a movement control order (MCO) on March 18, one of the familiar faces on the news networks is the Health Ministry director-general Datuk Dr Noor Hisham Abdullah.
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Bank Negara’s good and bad news
While Malaysia will not be spared from the global growth contraction this year due to the Covid-19 pandemic, the central bank is confident that the Malaysian economy can weather the challenges.
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Gold futures to trade cautiously next week
THE gold futures contract on Bursa Malaysia Derivatives is likely to trade cautiously next week, tracking the COMEX Gold market and the US dollar’s performance amid Covid-19, a dealer said.
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Delays and defaults likely for P2P
PEER-to-peer (P2P) lending has seen robust growth over the last three years as businesses turn to these platforms as an alternative means to raise funds for working capital.
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China showing signs of economic recovery
After defeating the domestic Covid-19 epidemic, China’s focus is now shifted to restarting its virus-battered economy.
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Trump invokes Defense Production Act to stop export of masks
US President Donald Trump on Friday signed an order directing his administration to stop N-95 face masks and other personal protective equipment needed in the fight against the coronavirus pandemic fr...
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Saudis deny withdrawing from OPEC+ deal, says Russia was the one that withdrew
THE Saudi foreign minister said early yesterday that a statement attributed to Russia’s President Vladimir Putin about the kingdom’s withdrawal from the OPEC+ deal is not correct, and that Russia ...
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Banks urged to defer foreclosure proceedings at least for 2020
It is too early to gauge the economic fallout in all its entirety on the housing sector as a result of Covid-19 pandemic.
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Home lenders brace for up to 15 million US mortgage defaults
NEW YORK: Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.
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Market is likely still looking for bottom amid rising risk of recession
INVESTORS have been warned: the worst is yet to come.
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Leslie Ng is new CEO of BHPetrol
PETALING JAYA: Boustead Petroleum Marketing Sdn Bhd (BHPetrol) has appointed Leslie Ng Chie Shean as chief executive officer, effective April 1,2020.
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Tougher for airlines as Covid-19 spreads
THIS period is the aviation industry’s darkest hour with no clear signs when airlines will be able to restart the hundreds of airplanes grounded at airports and other global sites.
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Nestle to appoint two new directors
PETALING JAYA: Nestlé (Malaysia) Bhd is appointing CIMB Group group chief people officer Datuk Hamidah Naziadin and Astro Malaysia Holdings Bhd director of PayTV–SVP Datin Sri Azlin Arshad as new independent and non-executive directors.
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SCIB unit secures Middle East construction jobs worth RM864.5mil
KUALA LUMPUR: Sarawak Consolidated Industries Bhd’s wholly-owned subsidiary SCIB International (Labuan) Ltd has accepted three construction jobs worth a total sum of US$200.45mil (RM864.54mil).
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Business events organisers, property valuers appeal for govt aid
KUALA LUMPUR: Small and medium-sized industries involved in the organisation of business events and property valuation firms have separately urged the government to help their respective industry, failing which many of their members would have to cease operations, leading to massive unemployment.
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World Bank sees ‘major global recession’ due to pandemic
WORLD Bank Group President David Malpass on Friday said the rapily spreading Covid-19 pandemic was expected to cause a “major global recession” that would likely hit the poorest and most vulnerabl...
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Wall Street falls as coronavirus shreds US payrolls
WALL Street’s main indexes fell more than 1.5% on Friday as the coronavirus abruptly ended a record US job growth streak of 113 months, intensifying fears of a deep economic slowdown.
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Dollar climbs on safe-haven bids; shrugs off horrible US jobs number amid coronavirus outbreak
NEW YORK, April 4 — The dollar firmed against major currencies for a third straight day yesterday, as investors took shelter in the US currency amid worsening economic fallout from the coronavirus o...
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Allow 50% workforce in three sectors, govt urged
KUALA LUMPUR: The Lion Group is urging the government to allow at least half of the workforce within the manufacturing, construction and mining sectors to resume operations during the movement control order (MCO).
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Oil and gas stocks rally this week
On Thursday afternoon, an interesting development took place that saw investors quickly rushing into oil and gas (O&G) stocks on Bursa Malaysia.
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How dividend stocks behave during a recession
Recessions and bear markets are almost a shoo-in for long-term investing. While we will never be able to guess its exact timeline, what’s certain is that it is around the bend, particularly after an 11-year bull run since the 2008 financial crisis.
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Slowdown in investment growth
MALAYSIA needs to review its existing investment policies amid a rapidly-evolving environment to attract quality investments if it wants to successfully transition itself into a high-income nation.
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Logistics weathering through the MCO
It may seem that logistics companies are enjoying a brisk spike in business during the movement control order (MCO) period, particularly those involved in last mile delivery - but that does not seem to be the case.
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Waiting game for construction sector
The East Coast Rail Link (ECRL) and the Mass Rapid Transit 2 (MRT2) projects will proceed. But worries that some mega infrastructure projects could be reviewed or delayed, given the government’s stretched finances, have cast uncertainty over the construction sector.
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Short Position - properties sold at a discoun
THE best time to buy properties is during times of crisis, such as the current environment where the Covid 19 pandemic has thrust the global economy into a tailspin.
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Finance Ministry planning a special stimulus package for SMEs
THE Finance Ministry (MOF) is in the midst of refining a special stimulus package for the small and medium-sized enterprises (SMEs) to ease their current difficulties.
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SC prepares FAQs on capital market operations during MCO
THE Securities Commission Malaysia (SC) has prepared a set of frequently asked questions (FAQs) document for the reference of capital market stakeholders to facilitate understanding of the operations ...
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Albukhary  Group of Companies join forces to counter Covid-19
THE Albukhary  Group of Companies have come together via their respective businesses to assist efforts in combating Covid-19 in the country.
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Global downturn due to coronavirus ‘way worse’ than global financial crisis, says IMF
WASHINGTON/GENEVA, April 4 — The coronavirus pandemic has brought the global economy to a standstill and plunged the world into a recession that will be “way worse” than the global financial cri...
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Opec+ debates biggest-ever oil cut amid Covid-19 pandemic, awaits US efforts
DUBAI, April 4 — Opec and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10 per cent of global supply, an Opec source said, while also waiting to see w...
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US airlines apply for US payroll grants for crisis help
CHICAGO, April 4 — Major US airlines applied yesterday for payroll grants from the US Treasury meant to keep workers employed while airlines ride out their toughest crisis in history due to the coro...
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US businesses swarm coronavirus bailout fund after days of confusion
NEW YORK, April 4 — Like many small business owners, New York City restaurateur Dan Kluger spent his Friday scrambling to apply for a loan under the US government’s US$349 billion (RM1.52 trillion...
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Billionaire Buffett's Berkshire Hathaway sells part of Delta, Southwest stakes
NEW YORK: Warren Buffett's Berkshire Hathaway Inc said on Friday it sold about 18% of its stake in Delta Air Lines Inc and 4% of its holdings in Southwest Airlines Co this week, as the coronavirus pandemic drives the airline industry into perhaps its biggest crisis ever.
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AirAsia’s burden adds on with asset-light strategy
AIRASIA Group Bhd has quite a bit going for it. It has cash, RM2.59bil of it, a strong business model and a brand-name that naturally is a crowd-puller in any markets it ventures.
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Malaysians send 3D-printed masks, meals to front-line coronavirus medics
KUALA LUMPUR: From 3D-printed protective face shields to meal deliveries,Malaysian volunteer groups are stepping up to help medical workers on the front line of the campaign against the coronavirus.
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Oil price surges more than 13% on hopes of output deal
NEW YORK: Crude futures surged for a second day on Friday, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that a global deal to cut crude supply worldwide will emerge early next week.
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Zoo Negara in need of animal food donations
KUALA LUMPUR (April 3): Zoo Negara needs more donations in the form of animal food such as meat, vegetables and fruits to ensure adequate food supply during the Movement Control Order (MCO) period.
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Agrobank teams up with Sarawak Govt to help SMEs weather COVID-19 impact
KUCHING (April 3): Agrobank has teamed up with the Sarawak Government to assist small and medium enterprises (SMEs) in weathering the impact of COVID-19 and the Movement Control Order (MCO) through th...
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COVID-19: List of fake news today
KUALA LUMPUR (April 3): The following are the replies made by the relevant agencies to the Quick Response Team of the Communications and Multimedia Ministry (KKMM) on fake news that went viral on soci...
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Innovation, thinking outside the box required to endure prolonged crisis
KUALA LUMPUR (April 3): Innovation, coupled with a radical departure from contemporary thinking, is required with a possible reality of a prolonged crisis becoming the new reality that people and comp...
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Five plantation giants rally for Sabah Government to open up operations in shut...
KUALA LUMPUR (April 3): In light of the Sabah Government’s decision to close down palm operations (including fresh fruit bunch [FFB] harvesting) in Tawau, Lahad Datu, Kinabatangan, Semporna, Kunak a...
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UK car sector warns: Supply companies need cash immediately
LONDON, April 3 — Britain’s car sector needs immediate cash and the government should introduce measures to support suppliers, some of which only have enough money to handle the coronavirus crisis...
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MCO Violation: Japanese man fined RM1,000 for leaving house to photograph birds
KUANTAN (April 3): A Japanese citizen was fined a maximum of RM1,000 or three months’ jail by the Magistrate’s Court here today for violating the Movement Control Order (MCO) directive by leaving ...
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RHB Investment Bank forecasts zero growth for Malaysia this year
KUALA LUMPUR (April 3): RHB Investment Bank Bhd is forecasting a zero percent growth for the country this year, which is within the range of Bank Negara Malaysia's (BNM) real Gross Domestic Product (G...
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Sunway employees set up fund to help the group's frontliners
KUALA LUMPUR (April 3): Sunway Group's employees have set up the #SunwayforGood Fund to help those in need, including their colleagues serving on the front lines, as well as those in the essential and...
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Trump will protect US oil but can’t dictate production, says Kudlow
WASHINGTON, April 3 — President Donald Trump will fight international efforts to collude in energy markets that could impact US energy producers, but the administration cannot dictate decisions on o...
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Airline crisis forces Airbus to consider A320 output cuts
PARIS, April 3 — Airbus is studying a sharp cut in output of its top-selling A320 plane series amid an industry-wide slowdown triggered by the coronavirus crisis, sources familiar with the matter sa...
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Albanian anchovy sales boom as lockdowns promote tinned food
DURRËS, (Albania), April 3 — Businesses worldwide have gone dark under coronavirus shutdowns, but in Albania, the anchovy trade is booming as demand for the tinned delicacy surges among European ho...
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Prices of RON95, RON97 petrol, diesel drop further
KUALA LUMPUR (April 3): The retail prices of RON95 and RON97 petrol will be eight sen per litre lower, at RM1.30 and RM1.60 respectively, for the week beginning April 10.
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RHB says interbank ATM withdrawal fee to be waived from April 6
KUALA LUMPUR (April 3): RHB Banking Group is waiving the RM1 fee for interbank cash withdrawal at its Automatic Teller Machines (ATMs), starting from April 6 until the end of the Movement Control Orde...
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TM unveils latest solution for COVID-19 early detection
KUALA LUMPUR (April 3): Telekom Malaysia Bhd (TM), through its innovation arm TM Research and Development (TM R&D), has unveiled its latest state-of-the-art solution, namely Early Warning, Alert & Res...
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Mondelēz International donates US$15 mil to Covid-19 relief efforts
KUALA LUMPUR (April 3): Mondelēz International, Inc (MDLZ) has announced it will donate US$15 million in financial and in-kind support to community partners advancing critical food stability and emer...
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Wall St opens lower as record jobs growth ends
APRIL 3 — Wall Street’s main indexes opened lower today as the novel coronavirus brought the longest US employment expansion on record to an abrupt end.
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BMW in dash for cash as German car sales plummet
FRANKFURT AM MAIN, April 3 — BMW is following other German carmakers in pumping up its financial liquidity to ride out the coronavirus crisis, its chief executive said today, as car sales in the aut...
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Funding Societies offer deferment options to affected SMEs
P2P financing platform Funding Societies is offering deferment or rescheduling options to help tide small and medium enterprises (SMEs) over the Covid-19 crisis.
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Auto sector may be in deep recession until 2023
by Yamin Vong MALAYSIA’s automotive sector will very possibly be in deep recession until 2023, says a veteran motor industry analyst based in Thailand and Malaysia who declined to be identified.
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Malaysia end-March palm oil stocks seen dipping as virus curbs disrupt output
KUALA LUMPUR (April 3): Malaysia's palm oil inventories for March likely slipped below February's end-stocks to 1.65 million tonnes, as better than expected exports offset a small rise in output likel...
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US employment plunges 701,000 in March amid coronavirus, says govt
WASHINGTON, April 3 — The US economy shed 701,000 jobs in March amid the damage inflicted by the coronavirus shutdowns, while the unemployment rate surged to 4.4 per cent, the Labor Department repor...
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UK to spend over £60b to keep economy afloat
LONDON, April 3 — Britain has pledged over £60 billion (RM321 billion) in public spending and tax cuts in an attempt to shield its economy from a deep recession caused by the coronavirus outbreak, ...
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MDEC and Singapore fund to help local tech startups get global investors
THE Malaysia Digital Economy Corporation (MDEC) and Singapore-based KK Fund Pte Ltd announced on April 3 a virtual investor-matching initiative for local startups seeking capital injection amid the cu...
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FGV, Micron, Perodua donate to Covid-19 relief efforts during MCO
FGV Holdings Bhd, Micron Technology Inc and Perodua have taken the initiative to provide assistance to the B40 income group and communities in need during the Movement Control Order (MCO) period.
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Ringgit closes lower on firmer demand for greenback
KUALA LUMPUR: The ringgit ended lower against the US dollar on firmer demand for the greenback, as investors sought the safe-haven currency amid worries over worsening global economic outlook due to t...
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BookDoc leverages its digital technology prowess to combat Covid-19
KUALA LUMPUR (April 3): An online healthcare platform, BookDoc has leveraged its digital technology prowess via Activ platform to help the Ministry of Health (MoH) combat Covid-19. Founder and CEO of ...
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200 tenants in Labuan's Financial Park Complex to enjoy 50% rental discount
LABUAN (April 3): A total of 200 tenants at the Financial Park Complex here will enjoy a 50 percent discount in the monthly rental for three months beginning March.
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BNM intensifies engagement to improve operational risk measurement
KUALA LUMPUR, April 3 — Bank Negara Malaysia (BNM) has intensified its engagements with financial institutions on improving approaches to the measurement of operational risk as well as scenario anal...
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Trump to host Big Oil execs at White House to discuss market slump
WASHINGTON, April 3 — US President Donald Trump will meet with oil company executives at the White House today to discuss a historic oil-price slump threatening their businesses, brought on by the c...
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OPEC+ pushes for global coalition to stem oil rout
LONDON (Bloomberg) -- The OPEC+ coalition is pushing for other major oil producers to join it in a deep reduction of global crude output and stem the historic rout in prices, a move that sent futures sharply higher.
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Pandemic will continue to haunt world markets
By Chee Jo-Ey THE markets will be in for a rough ride that will probably drag into the second half of the year as the epicentre of the Covid-19 pandemic shifts from China to Europe and now the US, whi...
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Can Sapura solve its RM10 bil debt woes?
By Emmanuel Samarathisa ANALYSTS are mixed over Sapura Energy Bhd’s (SEB) move to negotiate its borrowings despite lenders being “supportive” over the matter.
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Wong Engineering’s corporate deal raises questions
By Doreenn Leong INVESTORS normally frown upon deals involving private assets of major shareholders of listed companies as there are concerns on whether the asset will be beneficial to the listed com...
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Covid-19: Malaysian hospitals may soon see Huawei Cloud AI-assistance
By Xavier Kong MALAYSIAN hospitals may soon see the deployment of Huawei Cloud’s artificial intelligence-assisted computed tomography (CT) scanning in helping to screen Covid-19 patients, with the...
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MCO: MMEA inspects 10 foreign yachts in Langkawi, prohibits crew from landing
LANGKAWI (April 3): The Kedah and Perlis Malaysia Maritime Enforcement Agency (MMEA Kedah and Perlis) inspected 10 foreign yachts in the waters off Pulau Langkawi yesterday to ensure that the Movement...
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P.I.E. proposes special, final dividends
KUALA LUMPUR (April 3): P.I.E. Industrial Bhd has proposed a special dividend of 2.6 sen a share besides a first and final payout of 2.4 sen for the financial year ended December 31, 2019 (FY19). In a...
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Freight forwarders given another four days to move non-essential cargo from...
PUTRAJAYA (April 3): The Transport Ministry has given freight forwarding companies an extension of four days from Saturday to claim their non-essential cargoes at the relevant ports.
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PPIPBM shares proposals to help Covid-19-hit Bumiputera SMEs
KUALA LUMPUR (April 3): The Bumiputera Manufacturers and Services Industry Association of Malaysia (PPIPBM) has proposed a number of measures to the government to help Covid-19-hit Bumiputera small an...
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UK facing Depression-style hit as firms slump in March
LONDON, April 3 — Britain’s economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record ...
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Opec, allies to hold video conference meeting Monday, says source
VIENNA, April 3 — The Opec group of oil producers led by top world crude exporter Saudi Arabia and its allies will meet Monday via video conference, a source close to Opec said today.
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Ventilator tycoon adds US$3.7bil to wealth on demand rush
HONG KONG (Bloomberg) -- As the coronavirus pandemic wrecks economies, markets and fortunes, three founders of a company that makes ventilators have added a combined US$7.3bil to their wealth this year.
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Singapore shuts schools, workplaces for a month
SINGAPORE: Singapore will close schools and most workplaces, except for essential services like supermarkets and banks, for a month, Prime Minister Lee Hsien Loong said on Friday, as part of stricter ...
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Soothing for the scalp
By William K.C. Kee Designed to give customers a pampering session, this refreshing treatment is suitable for all hair types.
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Covid-19: 217 new cases with three deaths
A TOTAL of 217 new positive Covid-19 cases were reported as of noon today, bringing the total number of cases in the country to 3,333, said Health director-general Datuk Dr Noor Hisham Abdullah.
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Singapore’s Covid-19 relief bill likely to be tabled April 7
By Xavier Kong A DRAFT of the Temporary Relief for Inability to Perform Contractual Obligations due to Coronavirus Disease 2019 (Covid-19) Situation Bill has been made available, following the announ...
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FINCO launches initiative for unemployed grads
THE Financial Industry Collective Outreach (FINCO) has launched the Graduate Programme 2000 (GP 2000) to provide training and work experience for up to 2,000 unemployed graduates beginning in July.
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Private consumption to provide impetus to GDP growth again in 2020
By Ranjit Singh PRIVATE consumption will once again provide the growth engine for Malaysia’s Gross Domestic Product (or GDP, the total value of goods and services produced in a year) in 2020 althoug...
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Covid-19: Risk of infection remains despite negative result — MoH
KUALA LUMPUR (April 3): Individuals whose test results for Covid-19 came back negative remain at risk of being infected with the virus, said the Ministry of Health (MoH)’s family medicine specialist...
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No respite for stocks as global Covid-19 cases top 1 million
KUALA LUMPUR (April 3): The FBM KLCI closed down 0.25 point or 0.02% at 1,330.65 today, as the Covid-19 pandemic, which has killed more than 50,000 people globally and infected over a million individu...
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Covid-19 cases rise to 3,333 with 217 new confirmed infections, fatalities rise...
There were 217 new Covid-19 cases pushes total to 3,333, fatalities rise to 53.
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Malaysia’s trade value with FTA partners increased to RM 88.05 billion in Feb 2020
KUALA LUMPUR, April 3 — The country’s trade with Free Trade Agreement (FTA) partners recorded double-digit growth of 10.3 percent year-on-year (y-o-y) growth of RM 88.05 million.
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SC gives approval for Tokenize to operate
KUALA LUMPUR: Digital asset exchange (DAX) operator Tokenize Malaysia has received its full approval by the Securities Commission Malaysia (SC) to operate.
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FBM KLCI closes down 0.25 point at 1,330.65
FBM KLCI closes down 0.25 point at 1,330.65
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TV-based learning sessions to start next week — Mohd Radzi
KUALA LUMPUR (April 3): Now that the Movement Control Order (MCO) has entered its second phase, the Ministry of Education (MOE) will take the approach of introducing television-based learning sessions...
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Maybank IB expects FTSE Russell to retain Malaysia on WGBI watch list
KUALA LUMPUR (April 3): Maybank Investment Bank (Maybank IB) expects FTSE Russell will retain Malaysian bonds on its World Government Bond Index (WGBI) watch list.
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Trade with major partners China, US grew in February, Putrajaya says
KUALA LUMPUR, April 3 — Malaysia’s trade with major partners China and the US grew by 14.1 per cent and 10.1 per cent respectively in February 2020, when compared to the same month last year.
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Short-term rates close stable on BNM’s operations
KUALA LUMPUR, April 3 — Short-term interbank rates ended stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.
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Mah Sing, Sime Darby Property pitch in to fight Covid-19
KUALA LUMPUR, April 3 — Mah Sing Group Bhd, together with Mah Sing Foundation (MSF), has donated RM4.1million in support of the fight against Covid-19 in the country.
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Hungary’s Alkaloida says it can mass produce hydroxychloroquine for coronavirus use, report media
BUDAPEST, April 3 — Hungarian pharma company Alkaloida Zrt has asked for a domestic distribution licence for its drug Hydroxychloroquine and can produce 20 million pills, enough to treat 2.2 million...
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Has Prihatin accelerated retrenchment?
By Leonard Yeoh and Pua Jun Wen THE implementation of the Movement Control Order (MCO) has forced most business premises to remain closed for a one-month-long period, except those that are providing ...
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BNM’s GDP forecast of between -2% and 0.5% for 2020 fair, say economists
By Ranjit Singh ECONOMISTS are saying Bank Negara Malaysia’s (BNM) projection for the economy to grow between -2% and 0.5% in 2020 is justified in light of the current circumstances.
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Four ways retailers can cope with Covid-19
By Bruce Richards THESE are unprecedented times for the retail industry.
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Covid-19: Fifth death in Singapore
SINGAPORE (April 3): Singapore has today reported another death due to Covid-19 infection, bringing the tally to five for the Island-city. In a statement, the republic’s Ministry of Health confirmed...
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Malaysia's indigenous people flee into forests to escape coronavirus
KUALA LUMPUR (April 3): After blocking the entrance to their village with logs, half the people of Jemeri fled into the surrounding forest in fear as the coronavirus spread in Malaysia, infecting the ...
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Operational restrictions at Sabah palm oil estates will lead to worker exodus,...
KUALA LUMPUR (April 3): The Sabah government’s decision to close down palm oil operations in six key areas could very likely lead to an exodus by the workers that toil in the plantations and mills i...
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Covid-19 & MCO: Tax relief proposals for SMEs
(April 3): The Movement Control Order (MCO) has affected all of us, something which we all accept as necessary to curb the spread of Covid-19. The restricted movement during this period undoubtedly ca...
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MITI: Malaysia’s trade with Asean, major market Japan increased in Feb
KUALA LUMPUR, April 3 — Malaysia experienced double digit year-on-year (y-o-y) growth in February with nearly all its trading partners in Asean as well as major trading partner Japan.
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Kuwait backs Opec+ meeting, resumes Neutral Zone shipments with Saudi
DUBAI, April 3 ― Kuwait supports Saudi Arabia's invitation for a meeting between Opec and non-Opec oil producers, an informal grouping known as Opec+, to curb global oil supply and halt the oil pric...
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CIMB extends SpeedSend Zero Fee to all cross-border fund transfers
KUALA LUMPUR, April 3 ― CIMB Bank Bhd and CIMB Islamic Bank Bhd (collectively CIMB) today announced an extension to the current SpeedSend Zero Fee programme, which will now see zero fees being charg...
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Indonesian palm producers have no plans to reduce hours despite virus - association
JAKARTA (Reuters) - Palm oil plantations in top palm producer Indonesia have imposed protocols to prevent the spread of coronavirus among workers but have no plans to reduce workers' hours or other activities, an industry body said on Friday.
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Petronas cautious over dividend to government as energy prices tank
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), struggling with weak prices and falling demand, said on Friday that its own funding needs and debt obligations would dictate any special dividend to th...
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Economic growth to improve gradually in 2H, says BNM
MALAYSIA foresees economic growth for the second half of the year will improve gradually, boosted mainly by the overnight policy rate (OPR) and the continuation of large-scale infrastructure projects,...
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Lokman's appeal setting aside leave to initiate committal proceedings...
PUTRAJAYA (April 3): The Court of Appeal fixed May 13 to hear former UMNO supreme council member Datuk Lokman Noor Adam’s appeal to set aside leave obtained by the attorney-general (A-G) to initiat...
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H&M forecasts loss and considers job cuts due to virus
Hennes & Mauritz AB said governments aren’t doing enough to help as three-quarters of the Swedish clothing retailer’s stores remain shut due to the coronavirus pandemic, making job cuts necessary.
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Airline industry warns of crisis bigger than 9/11 aftermath
Global air traffic demand fell 14% in February, the most since the 9/11 terrorist attacks, as airlines were "hit by a sledgehammer called COVID-19,” the International Air Transport Association said.
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Oil’s Trump bump fades as doubts rise over proposed output deal
OIL slid back below US$25 a barrel after a record surge as doubts crept in about a deal touted on Twitter by U.S. President Donald Trump that would see deep supply cuts from producers including Saudi Arabia and Russia.
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House prices remain seriously unaffordable, says BNM
MALAYSIAN house prices remain seriously unaffordable relative to income, due to a pronounced and prolonged mismatch between demand and supply of residential property.
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When will US economy bottom? Economists hunt for the right view
WASHINGTON: The economic crisis spawned by the coronavirus pandemic has produced a wave of grim US data, with likely more to come as millions lose jobs, businesses shutter and spending stops.
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Bursa stays lower at midday on subdued sentiment
BURSA Malaysia ended the morning session lower, as market sentiment was clouded by Bank Negara Malaysia’s (BNM) less cheerful economic outlook for 2020.
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AmBank Group contributes RM500,000 towards Covid-19 relief initiatives
AMBANK Group has pledged to donate RM500,000 to Tabung Covid-19 via Mercy Malaysia as part of its efforts to assist with the relief initiatives and cushion the severe impact of Covid-19 on the nation...
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BNM to implement requirements of Currency Act 2020
KUALA LUMPUR (April 3): Bank Negara Malaysia (BNM) will implement the requirements of the Currency Act 2020, which include establishing a registration regime to regulate currency processors.
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Striking a balance during MCO punitive or facilitative
KUALA LUMPUR (April 3): A former deputy minister and a former law professor, who is now a practising lawyer, have urged the police and court to strike a balance in the enforcement of the movement cont...
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BNM to publish next blueprint for financial sector in 2021
KUALA LUMPUR (April 3): Bank Negara Malaysia (BNM) is currently working to develop the next blueprint for the financial sector which the central bank aimed to publish it by next year, said governor Da...
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Bank Negara to pay higher dividend of RM3.5b to govt
KUALA LUMPUR (April 3): Bank Negara Malaysia (BNM) will pay a higher dividend of RM3.5 billion to the government for 2019, up 40 per cent from the preceding year's RM2.5 billion payout.
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Minetech
KUALA LUMPUR (April 3): theedgemarkets.com has highlighted one stock with momentum at Bursa Malaysia’s afternoon close today, which displayed positive momentum.
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MCO: Malaysia runs risk of SME-reliant MNCs taking business elsewhere, warns AmCham
KUALA LUMPUR, April 3 — The American Malaysian Chamber of Commerce (AmCham) today warned that the temporary halt on small and medium enterprises (SME) due to the movement control order (MCO) will ca...
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Dollar consolidates as hopes for quick recovery evaporate
SINGAPORE, April 3 ― The dollar edged toward a 2 per cent weekly rise today, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavir...
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Banking sector downgrade is global, says BNM
GLOBAL rating agency’s downgrade on the country’s banking sector is a global trend affecting the whole of Asia Pacific and not only Malaysia’s financial institutions.
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Punitive versus facilitative police action
By Gurdial Singh Nijar LAST week a number of people were shown being bundled off in police vans.
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Fintech sandbox to stay as new solutions testing channel, says BNM
BANK Negara Malaysia (BNM) expects the Financial Technology Regulatory Sandbox, which it introduced in 2016, will continue to be a reliable channel to test new solutions that face regulatory challenge...
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BNM to focus on potential stress detection in 2020 for financial stability
KUALA LUMPUR: In promoting financial stability in 2020, Bank Negara Malaysia (BNM) would be focusing on monitoring and detecting potential stresses in the financial system to enable prompt actions to ...
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