Malaysia Morning News For February 25, 2020

Malaysia’s Mahathir resigns but is asked to stay as interim PM
Prime minister’s move follows a weekend of political turmoil amid bid by his party to form new government without Anwar.
— Aljazeera

Guan Eng: Tun M quit because he did not want to work with Umno
Lim Guan Eng has shed light on the actual reason behind Tun Dr Mahathir Mohamad’s resignation today as the Prime Minister and Parti Pribumi Bersatu Malaysia (PPBM) chairman.
— The Sun Daily

Malaysia’s stock market drops by 41.4 points at close today, lowest in nine years, amid crisis in govt
The FBM KLCI closed at 41.14 points or 2.69 per cent lower at 1,490.06 today, the lowest point since 2011’s 1,500.91. The KLCI already took a hit this morning with a drop of 26.48 points at 1,501.47 at the opening and.
— Malay Mail

‘Shame on you!’ DAP tells Pakatan ‘renegades’ aligned with Azmin
DAP today condemned several lawmakers from Parti Pribumi Bersatu Malaysia (PPBM) which pulled out from Pakatan Harapan as well as those that exited PKR to follow Datuk Seri Azmin Ali for adding to the political crisis.
— Malay Mail

Political uncertainties affect economy
The current political turmoil has affected the government’s efforts to improve the economy and livelihood of Malaysian businesses and the ordinary rakyat, says Democratic Action Party (DAP) secretary-general, Lim Guan Eng.
— New Sarawak Tribune

Political wrangling drags Bursa Malaysia to close in red
Bursa Malaysia ended in the red today following a domestic political wrangling culminating in the resignation of Tun Dr Mahathir Mohamad as prime minister and Parti Pribumi Bersatu Malaysia chairman.
— The Sun Daily

Analyst: Sabah, Sarawak should play hardball if new coalition comes knocking
The ruling parties of Sabah and Sarawak should take advantage of the political realignment in Putrajaya to push for the return of their states’ rights as enshrined in the Malaysia Agreement 1963 (MA63), a political analyst said.
— The Borneo Post

Guan Eng rejects claim that Pakatan does not hold majority support in Parliament
KUALA LUMPUR: Despite the exit of Parti Pribumi Bersatu Malaysia (Bersatu) and 11 PKR MPs, DAP secretary-general Lim Guan Eng maintains that Pakatan Harapan still holds the majority support of MPs in Parliament.
— The Star Online

Is Malaysia going for a snap election?
Malaysia is likely heading towards a snap election based on the present political development, said local political analysts.
— New Straits Times

Sarawak MTUC concerned about attempts to form new Federal Government
The Sarawak Malaysian Trades Union Congress (MTUC) has expressed concern at the attempts to form a new federal government to replace Pakatan Harapan.
— The Star Online

NAP 2020 lacks gear to ensure real change in Malaysia’s auto industry
The highly anticipated National Automotive Policy 2020 (NAP 2020), which was launched last Friday, may have missed the mark in terms of laying down a solid plan of action for Malaysia’s automotive industry.
— The Sun Daily

Latest composition of seats in Parliament
The latest developments in the country’s political landscape following several shocking announcements today have changed the composition of the Dewan Rakyat, particularly the status of seats belonging to Pakatan Harapan (PH) as the government.
— The Borneo Post

Ringgit falls to 4.22 against US dollar
The ringgit ended sharply lower against the US dollar Monday in tandem with the local equity market, amidst domestic political realignment and the ongoing Covid-19 outbreak, said an analyst.
— The Sun Daily

EPF dividend rate highly dependent on global economy
The Employees’ Provident Fund’s (EPF) dividend rate is highly dependent on the state of the global economy and volatility in the financial markets, said market observers.
— The Sun Daily

Lo saddened by ongoing intrigue in national politics
Malaysian Trade Union Congress (MTUC) Sarawak Division secretary Andrew Lo is saddened by the ongoing intrigue in national politics.
— The Borneo Post

Goldman Sachs pleads not guilty to charges over 1MDB bond sale amounting to RM27.2b
UK-based Goldman Sachs International Ltd and its Asian entities, Goldman Sachs (Asia) LLC and Goldman Sachs (Singapore), pleaded not guilty at the High Court here today to charges on the sale of 1Malaysia.
— Malay Mail

Dr M smiles, waves at media after audience with King
Tun Dr Mahathir Mohamad smiled and waved at pressmen upon leaving Istana Negara, where he had an audience with Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah over his resignation as Prime Minister.
— The Star Online

Teresa Kok: Govt green-lights easy loan scheme for sustainable oil palm growers co-ops
The government has approved an interest-free easy loan scheme of RM100,000 for Sustainable Oil Palm Growers Cooperatives (KPSM) to provide them with working capital to buy and sell fresh fruit bunches (FFB), said Primary.
— Malay Mail

PH still has the majority in Parliament, insists Guan Eng
DAP secretary-general Lim Guan Eng is convinced that Pakatan Harapan (PH) still has the numbers in Parliament to remain as the ruling government.
— The Sun Daily

Masing: Guan Eng’s ‘administrative arrogance’ more harmful for Sarawak than PAS
Parti Rakyat Sarawak president Tan Sri Dr James Jemut Masing today described Finance Minister Lim Guan Eng’s ‘administrative arrogance’ as a bigger threat to the state than PAS.
— The Borneo Post

Covid-19: Two more patients recovered, discharged
Two more Covid-19 patients have fully recovered and were allowed to return home today, bringing the cumulative total of people who have been cured to 20.
— The Borneo Post

Sabah’s Warisan next to support Dr M as PM
Sabah’s Parti Warisan will continue supporting Tun Dr Mahathir Mohamad to be the prime minister.
— Malay Mail

Nine PKR MPs quit party, coalition (Updated)
Less than an hour after Datuk Seri Mohamed Azmin Ali and Zuraida Kamaruddin were sacked, nine more PKR parliamentarians have quit the party and the Pakatan Harapan (PH) coalition.
— The Sun Daily

Court dismisses Najib’s bid on witness interview in SRC case
The High Court here today dismissed an application by Datuk Seri Najib Abdul Razak to compel a Malaysian Anti-Corruption Commission (MACC) officer to be interviewed by his defence team before testifying in the SRC International Sdn Bhd trial.
— The Sun Daily

Ong: Political uncertainty not good for Malaysian economy
Any political uncertainty is not good for the economy, and Malaysia needs direction as to where the government is heading in the future, said International Trade and Industry (MITI) Deputy Minister Dr Ong Kian Ming.
— Malay Mail

Need to address three sectors identified to have fatigue issues among employees
The land transport, construction and health sectors are the three critical sectors that need to be given serious attention to address fatigue issues among employees.
— The Sun Daily

UEM Sunrise net profit soars over six fold on Aus divestment
UEM Sunrise Bhd posted a net profit of RM126.25 million in its fourth quarter ended Dec 31, 2020 a 6.4 fold improvement over RM19.75 million reported in the same quarter of the previous year, attributed to the gain from its disposal of its St Kilda Road property in Melbourne, Australia.
— The Sun Daily

PDRM to monitor country’s political development closely – IGP
The Royal Malaysia Police (PDRM) will continue to monitor the country’s political development closely, said Inspector-General of Police Tan Sri Abdul Hamid Bador.
— The Borneo Post

Political shake-up roils stock market, KLCI slumps 2.5%
The speculation over the future of Pakatan Harapan following political manoeuvring that unfolded yesterday has shaken the market today, with the benchmark KLCI shedding nearly 2% to open at 1,501.47 points, from its close of 1,531.20 points last Friday.
— The Sun Daily

Pakatan postpones presidential council meet to tomorrow
The Pakatan Harapan presidential council meeting scheduled for this evening has been pushed to tomorrow.
— Malay Mail

PPBM’s Syed Saddiq claims told Dr M to prioritise Malaysians over power
Syed Saddiq Abdul Rahman asserted today that he told former Bersatu chairman Tun Dr Mahathir Mohamad that Malaysians’ welfare should come before the pursuit of power.
— Malay Mail

Now, PAS and BN also going to meet Agong
Federal lawmakers from Muafakat Nasional have secured an audience with the Yang di-Pertuan Agong this evening, PAS secretary-general Datuk Takiyuddin Hassan said today.
— Malay Mail

Caretaker government to be formed, AGC to release details soon
The Attorney General’s Chamber is expected to release details of a caretaker government amid political upheaval following the resignation of Tun Dr Mahathir Mohamad as prime minister.
— Malay Mail

Taxi driver freed of LTTE charges, proceeds with application to delist it as terrorist group
Taxi driver V. Balamurugan, who was today acquitted and discharged on five charges with supporting LTTE went ahead with his leave application for judicial review to delist it from being gazzetted as a terrorist group.
— The Sun Daily

Willie Mongin apologises to constituents for leaving PKR
Puncak Borneo MP Willie Mongin has apologised to his constituents for leaving Parti Keadilan Rakyat (PKR).
— The Borneo Post

Let Parliament decide on backdoor government, says ABIM
The Malaysian Muslim Youth Movement (Abim) has urged the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah to leave it to parliament to decide on any form of backdoor government.
— The Sun Daily

Sarawak DCM says OK to any new federal alliance, even with PAS, but minus ‘arrogant’ DAP
Gabungan Parti Sarawak (GPS) will support any new coalition under the leadership of Tun Dr Mahathir Mohamad to take Putrajaya, Parti Rakyat Sarawalk president Tan Sri James Masing said today.
— Malay Mail

Stingless bee farming potential agro-tourism product
Jafri Safar believes the kelulut (stingless honey bee) industry he is engaged in has great potential to be a thriving agro-tourism product.
— New Sarawak Tribune

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