Bank Negara Malaysia (BNM) projected that the country’s gross domestic product (GDP) growth to be between -2% and 0.5% this year amid expectation that economic activities will pick up in the second half of the year.
While the Malaysian Medical Association (MMA) has called for the relaxation of the MCO, the Academy of Medicine of Malaysia (AMM) said the measures should be extended until Hari Raya Aidilfitri at end-May or even beyond that.
The six consecutive days of drop has wiped off RM16.62 billion market capitalisation from Public Bank.
Fresh into the role, he said the focus now will be on making sure that safety precautions are carried out for the group’s numerous outlets and malls to ensure both staff and customers can carry on with daily business transactions.
After interviewing 54 out of 56 assemblymen, His Majesty was “satisfied that the new coalition has a simple majority to form the government.”
Hours later, the US Federal Reserve also announced an emergency half-percentage point interest rate cut in a bid to protect the longest-ever economic expansion from the outbreak.
It will also accelerate planned investment projects by government-linked companies this year including one involving 1,400mw of solar power generation to flush more money into the economy.
Chief among these dangers is the threat to national unity posed by escalating racial and religious extremism following the shock defeat of the Barisan Nasional coalition in the 14th general election in 2018.
Adding to the drama was the departure of 11 members of Parliament (MPs) from PKR, an exodus led by its deputy president Datuk Seri Mohamed Azmin Ali.
Mounting political uncertainties are expected to exert selling pressure on the local bourse, which is already clouded by economic concerns particularly after the COVID-19 virus outbreak.
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