News about Malaysia

PETALING JAYA: From the political turmoil which resulted in a change in government to the COVID-19 pandemic that has placed the country in partial lockdown coupled with the stock market meltdown — recent developments in Malaysia have been far from favourable.

KUALA LUMPUR (March 27): RHB Banking Group became the first local bank to announce that it will not be compounding interest for its retail and small and medium enterprise (SME) customers during the six-month moratorium period recently announced by Bank Negara Malaysia (BNM).

KUALA LUMPUR (March 26): Businesses in Malaysia are expected to record losses of between 40% and 80% during the Movement Control Order (MCO) period, according to a survey by the EU-Malaysia Chamber of Commerce and Industry (EUMCCI).

KUALA LUMPUR (March 26): Health director-general Datuk Seri Dr Noor Hisham Abdullah said another 235 new COVID-19 cases have been reported, bringing it to a total of 2,031 cases as of noon Thursday (March 26), the Star reported today.

KUALA LUMPUR (March 26): OCBC Bank (Malaysia) Bhd said it will not be compounding interest and profit on mortgages and loans for small and medium enterprises (SMES) during the six-month moratorium period.

KUALA LUMPUR (March 26): Genting Malaysia Bhd said several of its resorts will continue to be closed, following the announcement of the extension of the Movement Control Order (MCO) up to April 14 by Prime Minister Tan Sri Muhyiddin Yassin yesterday.

KUALA LUMPUR (March 26): Another death from COVID-19 was reported to the Crisis Preparedness and Response Centre (CPRC) today, bringing the tally to 21, said health director-general Datuk Dr Noor Hisham Abdullah.

KUALA LUMPUR (March 26): AmBank Group Research said the coronavirus-induced recession is expected to place both the global economy as well as the Malaysian economy into technical recession.

KUALA LUMPUR (March 26): Housing prices in Malaysia are under pressure and Malaysian homebuyers could pick up some real bargains soon as the property market turns sour with the current COVID-19 outbreak, according to real estate consultancy Savills Malaysia managing director Datuk Paul Khong.

KUALA LUMPUR (March 25): The Malaysian Rubber Gloves Manufacturers Association (Margma) is warning of the possibility of there being a chronic shortage in medical gloves, despite the industry working on an overdrive to meet both local and international demands, amid the deepening COVID-19 outbreak.