Showing posts with label Coronavirus. Show all posts

Saturday, April 11, 2020

Specific non-essential industries allowed to operate during extended MCO

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The Federal Government will allow some industries to operate during the extended movement control order (MCO), but the health and safety of the workers remain a top priority, says Senior Minister Datuk Seri Azmin Ali (pic). He said these industries, which include non-essential and professional services, must apply online from 9am on Monday (April 13) on the International Trade and Industry Ministry’s (Miti) website www.miti.gov.my for permission to operate during the MCO period.

The MCO was extended yesterday for the second time to April 28, as announced by Prime Minister Tan Sri Muhyiddin Yassin, in a bid to curb the spread of Covid-19, which has severely impacted economic activities.

The list from Miti includes industries such as automotive, machinery and equipment, aerospace, construction projects, social health services including traditional and complementary medicine practitioners, hardware and electrical shops, opticians as well as full-service laundrettes and hair salons/barber shops (haircuts only).

Azmin, who is also International Trade and Industry Minister, warned that permission given to these industries will be revoked immediately if the business did not comply with the stated standard operating procedures.

“The decision was made after we realised the need to open up more economic sectors as the Covid-19 pandemic is not only affecting the health of the people but is also affecting the economy, especially small and medium enterprises (SMEs).

“We found that the level of compliance from the government’s decision to allow several critical manufacturing and services sectors to operate during the first phase of the MCO had been good.

“Nevertheless, the government continues to monitor the compliance of the conditions as stipulated by the Health Ministry and also to ensure that health screening and preventive measures are implemented for the safety of employees and customers.

“This step is necessary to ensure the sustainability of the country’s economy post-Covid-19, to prevent the loss of jobs among Malaysians and to ensure that the rakyat continue to have access to basic needs and critical products throughout the MCO period, ” he said.Azmin is also co-chair of a Special Cabinet Committee to Mitigate the Impact of Covid-19 on the Economy and Labour Market, which later made proposals to the Cabinet.

He said among the considerations the Cabinet took into account before deciding on which industries could operate were the stability of export activities, survival of SMEs, and the size of the workforce.

Muhyiddin stressed that the decision was not a case of easing the MCO, but one where the approved businesses must follow strict procedures.

“I must emphasise that while we allow some sectors to re-open, this does not mean that we are relaxing the MCO. The order is still being enforced and orders issued by authorities must be followed, ” he said.On another matter, he said there was a possibility that schools would remain closed for a while until the authorities were convinced that the Covid-19 situation was completely under control.

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The Education Ministry has been asked to implement home-based learning initiatives to be implemented during the MCO period and possibly until school re-opens, the Prime Minister added.

“I have read comments from parents on Facebook and many want the school closure to be extended. Parents are worried about their children’s safety.

“I, too, have school-going grandchildren and like you, I worry for them. Who doesn’t love their children, more so grandchildren?” he said.

Muhyiddin has also directed the authorities to enhance surveillance and checks along the country’s borders to prevent illegal entries.

“Along our borders there are many illegal routes that can be used to enter the country.

“If we don’t beef up the control and surveillance along our borders, illegal immigrants can bring Covid-19 into the country.

“That is why I have ordered the authorities to ensure there are stricter border controls, ” he added.

Muhyiddin also expressed his gratitude to all frontliners, including medical workers, police, army, enforcement personnel and delivery personnel, on duty during the MCO period, describing them as “great people”.

Govt allows more businesses, like hair salon, optometry, to open during MCO

The government will allow an additional list of businesses to operate during the movement control order (MCO), but the health and safety of workers remains a top priority, says Senior Minister Datuk Seri Azmin Ali.

The list includes traditional and complementary medicine, hardware and electrical shops, optometry, manned laundrettes and hair salons (restricted to haircuts) will be allowed to operate.

Azmin, who is the International Trade and Industry Minister, said these businesses were in addition to industries such as automotive, machineries and equipment, aerospace and construction projects.

He added that the industries, which include non-essential services and products, must apply online from 9am on Monday (April 13) to the International Trade and Industry Ministry's (Miti) website www.miti.gov.my for permission to operate during the MCO.

The MCO was extended on Friday (April 10) for the third time to April 28, as announced by Prime Minister Tan Sri Muhyiddin Yassin.

Azmin warned that permission would be revoked immediately if the businesses did not comply with the stated standard operating procedures.

"The decision was made after realising the need to open up more economic sectors as the Covid-19 pandemic is not only affecting the health of the people but also affecting the economy, especially the small and medium enterprises (SMEs)," he said in a statement.

He said the level of compliance by several critical manufacturing and services sectors to operate during the first phase of the MCO had been good.

"Nevertheless, the government continues to monitor the compliance as stipulated by the Health Ministry and also to ensure that health screening and preventive measures are implemented for the safety of employees and customers.

"This step is necessary in order to ensure the sustainability of the country’s economy post Covid-19, to prevent the loss of jobs among Malaysians and to ensure that the rakyat continue to have access to the basic needs and critical products throughout the MCO period," he said.

Azmin is also co-chair of a special cabinet committee to mitigate the impact of Covid-19 on the economy and labour Market, which later made proposals to the Cabinet.

He said in considering which industries could operate, the government looked at the stability of the export activities, survival of SMEs and size of workforce.

Here is the full list:

1. Automotive industry (limited to exports of CBU, parts and components, plus after-sale services)

2. Machinery and equipment industry

3. Aerospace industry

4. Construction projects and services related to construction works:

- Projects whereby the main contractors are G1–G2

- Projects that have achieved physical progress of 90% and above

- Tunnelling works

- Maintenance works

- Sloping works

- Emergency works that are consequent to contractual obligations

- Maintenance, cleaning and drying of stagnant water, spraying of pesticides at construction sites which prevent the breeding of Aedes mosquitoes and other pests

- Other works that if left incomplete may result in danger

- Building projects with 70 IBS score and above

- Construction projects with accommodation facilities for workers, such as centralised quarters for workers or workers’ camp

- Professional services related to the construction industry including architects, engineers, town-planners, land surveyors, quantity surveyors, project managers, facility managers as well as other relevant services

5. Science, professional and technical services, including R&D (services incidental to legal practice, services incidental to oil and gas, R&D activities related to Covid-19, and testing labs for the sectors allowed to operate)

6. Social health services including registered traditional and complementary medicine (TCM) practitioners

7. Hardware shops, electrical and electronic (E&E) shops and optometrists in the wholesale and retail industry

8. Laundry services (only those offering full-service and does not include self-service laundrettes)

9. Barber shops and hair salons (offering haircuts only)

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Friday, April 10, 2020

Malaysia's MCO extended until April 28 will continue to May 12, PM announces

Prime Minister Tan Sri Muhyiddin Yassin has announced that the movement control order (MCO) will be extended for another two weeks, from April 15 to April 28 to curb the spread of Covid-19.

Muhyiddin said that schools will remain closed with home-based and online learning in place until the situation is considered safe for children to return to schools.

He added that several economic sectors will be opened in stages and the government will make an announcement in the near future.

Muhyiddin noted that the extension of MCO would run into the month of Ramadan, expected to start on April 23, and said there would be no Ramadan bazaars nor terawih prayers in mosques.

The sighting of the moon to decide when Ramadan begins will be on April 23.

"Based on the advice of the Health Ministry and medical experts, the government had decided to extend the MCO for another two weeks from April 15 to April 28.

"This extension is to give room for healthcare workers to combat Covid-19 and prevent a re-emergence.

"The move is in line with the view of the World Health Organisation (WHO) which suggested that countries do not end the MCO too early.

"In some countries, the spread of Covid-19 increased again when the MCO was lifted," said Muhyiddin in a televised address on Friday (April 10).

He said that the MCO so far had kept the pandemic in check with the country registering positive Covid-19 cases at 7%, less than the world benchmark of 10% by WHO.

Malaysia's death rate from Covid-19 is also at 1.6%, way below the world's death rate of 5.8%, said the Prime Minister.

As of Thursday (April 9), 67 deaths were reported.

The first phase of the MCO, which was introduced to break the chain of Covid-19 infection, was from March 18 to 31, followed by the second phase from April 1 to 14. - The Star

Here is the Prime Minister's full speech in Bahasa Malaysia:

https://youtu.be/4RFB1OuLV-I

Bismillahirrahmanirrahim. Assalamuálaikum wa rahmatullahi wa barakatuh dan salam sejahtera.

Saudara-saudari rakyat Malaysia yang saya kasihi. Apa khabar semua? Saya harap saudara-saudari sihat sejahtera bersama keluarga di rumah. Bagi yang sedang bekerja, selamat bekerja dan jaga kesihatan. Sentiasa amalkan penjarakan sosial, jaga kebersihan diri dan apabila balik ke rumah jangan lupa mandi dulu. Kemudian barulah buat apa-apa aktiviti bersama keluarga.

Di awal ucapan saya ini, saya nak menzahirkan rasa terima kasih dan penghargaan saya kepada anda semua sebagai rakyat Malaysia. Anda adalah manusia yang hebat.

Doktor dan jururawat yang berada di barisan hadapan, anda mengambil risiko setiap kali melangkah masuk ke wad. Tetapi anda terus melangkah dengan gagah untuk menyelamatkan nyawa orang lain. Walaupun letih, anda tidak mengeluh tetapi terus berkhidmat dengan cekal. Terima kasih yang tak terhingga saya ucapkan.

Terima kasih juga saya ucapkan kepada doktor dan jururawat di hospital swasta. Ketika hospital kerajaan sibuk merawat pesakit COVID 19, hospital swasta menerima pesakit-pesakit bukan COVID 19 untuk dirawat.

Terima kasih juga kepada anggota polis dan tentera yang menjaga sekatan jalan raya. Anda berpanas, berhujan, tetapi terus menjalankan tugas. Syabas saya ucapkan.

Juga kepada anggota Imigresen, Angkatan Pertahanan Awam, Bomba, RELA, pihak berkuasa tempatan dan lain-lain agensi yang turut membantu. Saya ucapkan terima kasih.

Terima kasih juga kepada insan-insan yang bermurah hati membungkus makanan untuk dihantar kepada para petugas di barisan hadapan. Mereka buat secara percuma tanpa mengharapkan apa-apa balasan. Anda adalah insan yang hebat.

Begitu juga kepada anda yang bekerja menghantar makanan. Samada grab food, food panda atau lain-lain. Anda mengambil risiko. Orang lain duduk di rumah, anda keluar rumah untuk pastikan orang lain boleh makan. Anda melakukan satu pekerjaan yang mulia. Pesan saya, jaga kesihatan, jaga keselamatan, jangan bawa motor laju-laju. Anda juga insan yang hebat.

Pendek kata, kita ibarat sebuah keluarga besar. Kita saling bantu membantu ketika zaman susah. Kita jaga keluarga kita. Kita jaga jiran kita. Kita jaga masyarakat kita. Baik kita di kampung, di kawasan perumahan, di kondominium, di rumah flat. Kita jaga kita. Inilah nilai sebenar persaudaraan rakyat Malaysia tanpa mengira bangsa.

Saudari-saudari yang saya kasihi,

Berdasarkan situasi terkini, pelaksanaan Perintah Kawalan Pergerakan telah dapat membantu para petugas kesihatan kita mengawal penularan COVID-19 ke satu tahap yang agak stabil.

Menurut unjuran yang dibuat oleh Kementerian Kesihatan Malaysia, PKP yang dilaksanakan dalam tempoh hampir sebulan yang lalu telah sedikit sebanyak mengurangkan kebolehjangkitan dan penularan COVID-19.

Dengan usaha-usaha yang telah dibuat, kes-kes positif COVID-19 adalah terkawal pada kadar 7%, iaitu di bawah benchmark 10% yang ditetapkan oleh Pertubuhan Kesihatan Sedunia atau WHO.

Kadar kematian akibat wabak ini juga adalah rendah, iaitu 1.6% berbanding 5.8% kadar kematian di peringkat dunia. Setakat ini seramai 1,830 orang pesakit telah keluar dari hospital. Ini bermakna 43% pesakit COVID-19 telah pulih.

Hari ini sahaja jumlah pesakit yang pulih ialah seramai 220 orang, melebihi jumlah kes positif baharu iaitu sebanyak 118 kes. Jumlah kes positif baharu juga telah menunjukkan penurunan sejak beberapa hari yang lalu. Jika trend penurunan ini berterusan untuk tempoh dua minggu akan datang, insyaAllah kita akan dapat mengawal wabak COVID-19 ini daripada menular. Namun begitu, kita tidak boleh mengambil mudah situasi yang sedang berlaku.

Penularan wabak ini masih di peringkat pertengahan dan memerlukan tindakan pencegahan serta kawalan yang berterusan. Malahan, usaha-usaha mencegah wabak ini mesti diperhebatkan lagi bagi memutuskan rantaian penularan jangkitan.

Ini termasuk memberi tumpuan khusus kepada kumpulan-kumpulan sasar yang dikenalpasti menjadi punca penularan wabak ini. Sehubungan itu, berdasarkan nasihat daripada Kementerian Kesihatan Malaysia dan pakar-pakar perubatan, kerajaan memutuskan untuk melanjutkan pelaksanaan Perintah Kawalan Pergerakan untuk tempoh dua minggu lagi, iaitu dari 15 April hingga 28 April 2020.

Pelanjutan tempoh ini dibuat untuk memberi ruang kepada petugaspetugas kesihatan memerangi penularan COVID-19, selain mengelakkan penularan semula wabak ini dalam masyarakat.

Tindakan ini adalah selaras dengan pandangan WHO yang menyarankan negaranegara supaya tidak menamatkan perintah kawalan pergerakan terlalu awal. Sepertimana yang berlaku di beberapa buah negara, penularan wabak ini meningkat semula apabila perintah kawalan pergerakan ditamatkan.

Apa yang saya hendak sebutkan di sini ialah kita mesti bersedia untuk berhadapan dengan situasi ini bagi satu tempoh masa yang agak lebih lama. Ianya mungkin berlarutan untuk tempoh beberapa bulan, sebelum kita dapat betul-betul pastikan penularan wabak ini diatasi seratus peratus.

Itupun kehidupan kita mungkin tidak boleh kembali seperti sediakala. Selagi virus ini masih ada, amalan penjarakan sosial mesti diteruskan. Kita mesti sentiasa menjaga kebersihan diri. Elakkan sebarang perhimpunan. Hindari tempat yang sesak.

Bulan Ramadan akan menjelang tiba tidak lama lagi. Kita tidak boleh ke bazar Ramadhan untuk membeli juadah berbuka puasa, tidak boleh ke masjid untuk berterawih. Jadi berterawih lah di rumah bersama keluarga. Mungkin juga kita tidak boleh balik ke kampung seperti biasa.

Walaupun sukar untuk kita bayangkan perkara ini, tetapi inilah kenyataan yang akan kita hadapi.

Saya juga baca komen-komen ibu-bapa di facebook. Ramai yang mahu penutupan sekolah dilanjutkan lagi. Ibu-bapa rata-rata bimbang tentang keselamatan anak-anak. Saya pun ada cucu yang bersekolah. Seperti saudara-saudari saya pun bimbang juga. Semua orang sayangkan anak.

Cucu lebih lagilah sayangnya. Jadi, sekolah mungkin tidak akan dibuka lebih awal. Kita mungkin akan tangguhkan dahulu sesi persekolah sehinggakan kita benar-benar yakin keadaan telah kembali pulih.

Sementara itu, anak-anak kita perlu belajar di rumah. Saya telah minta Kementerian Pendidikan supaya melaksanakan inisiatif pembelajaran dari rumah atau home based learning sepanjang tempoh kawalan pergerakan ini, dan mungkin untuk tempoh yang seterusnya sehinggalah sekolah dibuka. Walaupun keadaan di negara kita insyaAllah akan kembali pulih dengan langkahlangkah yang sedang diambil, kita mesti ingat bahawa bukan negara kita sahaja yang terkesan dengan wabak ini. Seluruh dunia terkesan termasuklah negara-negara jiran kita.

Saya nak beritahu, di sepanjang sempadan negara kita ini banyak terdapat loronglorong tikus. Pendatang asing tanpa izin biasanya bolos menerusi lorong-lorong ini.

Jika kita tidak tingkatkan kawalan, mereka mungkin bolos dan membawa virus masuk ke negara kita. Na’uzubillah. Jadi, saya telah arahkan Ketua Polis Negara, Panglima Angkatan Tentera, Ketua Pengarah Agensi Penguatkuasaan Maritim Malaysia, Imigresen, RELA dan lain-lain agensi yang berkaitan supaya perketatkan kawalan di sepanjang sempadan negara.

Ringkasnya, kehidupan kita untuk bulan-bulan atau tahun yang mendatang ini tidak akan kembali seperti biasa. Kita akan menjalani kehidupan dengan “the new normal” atau kebiasaan baharu. Apa yang biasa kita buat dahulu, tak boleh kita buat lagi. Contoh mudahnya, berjabat tangan. Kalau dulu berjabat tangan bila berjumpa adalah satu perkara yang biasa dibuat. Kalau tak dibuat ianya dianggap janggal, atau tak beradab. Tetapi sekarang ini lain. Kita tak boleh berjabat tangan bila berjumpa untuk mengelakkan jangkitan virus. Mungkin kita tunduk sahaja sebagai tanda hormat. Ini adalah “the new normal”, atau kebiasaan baharu. Begitu juga perkara yang kita tak biasa buat sebelum ini seperti basuh tangan. Sekarang dan untuk masa yang akan datang kita mesti biasakan membasuh tangan dengan lebih kerap. Gunakan sabun, hand sanitizer dan sebagainya. Juga memakai face mask.

Banyak lagi contoh-contoh lain yang tak perlu saya sebut kerana saya fikir saudarasaudari faham maksud kebiasaan baharu yang mesti kita amalkan dalam menjalani kehidupan seharian untuk tempoh yang mendatang.

Saudara-saudari yang saya kasihi sekalian, Saya faham bahawa ekonomi negara kita terjejas kerana sekatan-sekatan yang dibuat terhadap aktiviti perusahaan, perkilangan dan perniagaan sepanjang tempoh PKP berkuatkuasa.

Untuk itu, kerajaan bersetuju supaya beberapa sektor ekonomi yang 6 terpilih akan dibuka semula secara berperingkat dengan garispanduan penjagaan kesihatan dan kawalan pergerakan yang ketat. Sebuah jawatankuasa khas kabinet yang dipengerusikan bersama oleh Menteri Kanan Perdagangan Antarabangsa dan Industri dan Menteri Kanan Pertahankan diwujudkan untuk meneliti senarai sektor-sektor ekonomi yang terpilih untuk dibuka secara berperingkat.

Saya ingin tegaskan bahawa pembukaan beberapa sektor yang terhad ini bukan bermaksud kita melonggarkan perintah kawalan pergerakan. Perintah ini masih berkuatkuasa dan semua arahan yang dikeluarkan oleh pihak berkuasa mestilah dipatuhi.

Jika terdapat pengusaha, kilang atau syarikat yang melanggar peraturan, kerajaan akan menarik balik kebenaran yang diberikan. Senarai sektor ini akan diumumkan oleh kerajaan dalam masa terdekat. Saudara-saudari yang saya kasihi sekalian, sebagai Perdana Menteri, saya bertanggungjawab menjaga keselamatan nyawa saudara-saudari. Setiap nyawa adalah berharga. Baik bayi, orang muda, orang dewasa atau warga emas, semuanya bernilai.

Kehilangan satu nyawa kerana virus ini bukan bererti kehilangan kepada suami, isteri, anak-anak atau keluarga terdekat sahaja, tetapi juga satu kehilangan besar buat negara. Kerana itu, marilah kita bersama-sama menjaga kesihatan diri kita, keluarga kita dan orang-orang di sekeliling kita dengan mematuhi perintah kawalan pergerakan.

Let me remind you that the war on COVID-19 is not yet over. The fight is still on. We are doing well so far, so just uplift your spirit and continue to fight. If we persevere, insyaAllah we will win.

Saya bertuah kerana anda semua adalah insan yang berdisiplin dan patuh kepada undang-undang. Tahap pematuhan PKP di negara kita adalah tinggi dan ini 7 menunjukkan saudara-saudari semua faham akan kepentingan menjaga kesihatan dan keselamatan diri. Teruskanlah sikap yang terpuji ini. Teruslah berusaha, berdoa dan bertawakkal.

InsyaAllah kita akan berjaya mengharungi ujian ini bersama-sama. Kepada Allah jualah kita berserah.

Wabillahi al-taufiq wal hidayah wassalamu’alaikum wa rahmatullahi wa barakatuh.

Tuesday, March 31, 2020

Coronavirus pandemic updates: Rise of US white supremacy portends new cold war or worse?

Check the latest update:
https://www.bloomberg.com/graphics/2020-coronavirus-cases-world-map/
https://www.bloomberg.com/graphics/2020-coronavirus-cases-world-map/
Mapping the Coronavirus Outbreak Across the World

> https://youtu.be/kVV4udIphcM

https://youtu.be/IRkXhR4SiIQ

https://youtu.be/OIvAmcQtdF0

https://youtu.be/KnI9c4_xu8w

Why white nationalists hear a political ally in Donald Trump

https://youtu.be/n4RLVuDD-AE

https://youtu.be/YOngQERR9tE

Trump attacks journalists for asking 'snarky' questions on coronavirus testing in US

Coronavirus: Trump expects 100K US deaths after
downplaying for weeks - Business Insid

Trump says keeping US Covid-19 deaths to 100000 would be a "Very Good Job"

With the novel coronavirus spreading around the globe, a political virus with deeper influence has also begun to show up. In recent years, white nationalism and white supremacy have been on the rise, a perfect reflection of a political virus that is spreading in the US. If Washington cannot appropriately deal with this virus, it will not be able to make the US great again but rather see an irreversible decline and fall of the US empire.

As of Tuesday, the US has reported at least 163,000 cases of COVID-19 and over 3,000 deaths from the virus. These fast rising numbers have failed to sober some US politicians, especially those who are anti-China, who regard the virus as an opportunity to expand their political interests.

The US is in a political mess with different forces striving to gain an upper hand in a game of political competition. The far-right forces represented by former Trump White House strategist Stephen K. Bannon have been on the frontline and haven't missed an opportunity to attract attention with extreme rhetoric.

Bannon has said that the Chinese government is "an existential threat to the Chinese people and to the world, not just the US." This is a typical statement aimed at gaining political support by pitting China and the world against each other. People like Bannon are actually spokespersons for white nationalism and white supremacy, and they label China an enemy to realize their political goals. These people have fanned the flames of extreme nationalism, which will cause the US to suffer first.

US history shows us that the country needs an enemy to push its development. This is pathetic, yet white nationalists still attempt to unite Americans by making up an enemy. The enemy used to be the Soviet Union, and now it's China, even though today's China is nothing like the Soviet Union.

When the term "American Century" was coined in the 1940s, the US was urged to become the world's Good Samaritan and thus a leader across the globe. Hence, in the eyes of some US politicians obsessed with the extreme mind-set of ideological competition, China has been targeted as a thorn in the side of the US.

Such being the case, Bannon and his followers have spared no efforts to smear China. They will continue spreading their political virus in the hope of reaching their ultimate goal of overthrowing China. These people on the far fringe of US political debate view this as the easiest way to make the US great again.

However, they know it's not possible for them to overturn the Chinese government, but they can't let go their paranoia. Therefore, they won't even hesitate to fulfill their self-gratification even if it drags the US into a hostility confrontation or even a war against China. In the era of globalization, the US will definitely harm itself and its people if it launches a cold war with China.

Nonetheless, if this racism-related political virus continues spreading and more people are deceived by extreme speech, the US will see its existing lesions develop into a malignant tumor. If that occurs, it won't only be the vast innocent Americans who will suffer, but also the politicians who care only about their political interests.

Source link

Read more :

Coronavirus pandemic accelerated as West’s sense of superiority caused failure to act promptly and lies about China

The West is trying to deflect blame, exacerbated by a mind-set which interprets disease outbreaks not as an inevitable aspect of the human condition, but something belonging to exotic, oriental and poorer nations.

US, UK politicians can't twist virus public opinion

It is absurd to accuse China of a disinformation campaign or attempt to hold China accountable. And this cannot and will not stop US and British societies from digging out the real reason and criticizing those who made them suffer the pandemic.

Political virus puts US behind the curve of infection control

Anti-China chorus can't mask country's contributions to virus fight

The US and some other Western countries have been recently launching continuous public opinion attacks on China from changing perspectives. They accused China of concealing data on the number of COVID-19 infections and deaths, politicized disputes over the quality of certain medical supplies shipped from China to the West, threw mud at China's diplomacy and demanded China be held accountable for the coronavirus outbreak, as if they are in tune with a new anti-China chorus.

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Coronavirus Covid-19 started in US, CDC director says so!

https://youtu.be/uR_LfkGwBG8 As readers will recall from the earlier article (above), Japanese and Taiwanese epidemiologists and pharma...

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'We lied, we cheated, we stole', ‘the Glory of American experiment’ by US Secretary of State/Ex-CIA director Mike Pompeo

https://youtu.be/DPt-zXn05ac

Pompeo's three sins in global virus fight

Pompeo and other US elites must be responsible for damaging superpower cooperation if the pandemic worsens, while China cannot join hands with the US due to the war of words. Politicians like Pompeo focus too much on their personal political interests. They will eventually be remembered as negative role models in the history of mankind's battle against COVID-19.

Others:

Malaysia Early signs of success during first phase of MCO: Dr Noor ...

Malaysia extends lockdown to April 14

https://youtu.be/yL26-EW7ZW4

Saturday, March 28, 2020

Stimulus packages avert 1930s-style depression but cannot prevent business closures, save jobs as supply-demand dynamics collapse


Click to Enlarge

Malaysia's RM250bil Funding the fight against Covid-19; Penang unveils RM75mil economic stimulus package

WHEN the conoravirus (Covid-19) first hit the news sometime in December last year, nobody would have thought that it would lead to a global crisis. Two weeks ago, many were staring at a 1930s kind of depression as the world was hit by the perfect storm.

Global trade and supply chain were only getting to terms with the end of the prolonged US-China trade war, when it was hit by a combination of the Covid-19 pandemic and collapse in crude oil prices.

The perfect storm for capital markets that comes once in a decade started to unravel.

The 2008 financial crisis broke down the US financial system. The banks in Malaysia were well prepared for the crisis after having overcome similar problems in 1998. It was different in other parts of the world, especially the United States and Europe. The Federal Reserve and the European Union printed money and other measures to save the banking system.

This perfect storm of 2020 has dismantled the fundamental pillars of global economy – the forces of supply and demand. The consequences are being felt at businesses – whether small or big.

Demand has collapsed overnight across the economy. From tourism to travel, manufacturing to logistics and food and beverage businesses were all forced to shut down to combat Covid-19.

Supply chains continue to be disrupted. Logistic companies are operating at a quarter of their capacity. Factories are shut down because of inadequate components or raw materials. The Federation of Malaysian Manufacturers (FMM) contends that cargo is not moving out of ports as fast as it wished to.

Governments had no choice but to announce stimulus measures, which would help alleviate the hardship suffered by workers and companies affected by the strict measures undertaken by the government to contain the virus.

So far, the centrepiece of Malaysia’s stimulus package is to suspend mortgage and hire-purchase payments on houses and vehicles for six months. Those with credit card repayments can convert their outstanding balances to term loan.

Another firepower that the government has unleashed is handing some RM10bil into the hands of the people. The money will come in direct handouts to people in the B40 and M40 groups, civil servants and individuals.

Like many other stimulus packages, the government has also allocated RM5.9bil to subsidise the wage bill of 3.3 million workers earning less than RM4,000 per month. The subsidy of RM600 will go on for three months provided the company does not retrench the workers or cut their salaries.

Some RM54bil are available for businesses affected by the restrictions on operations imposed to contain the Covid-19 pandemic. Among the beneficiaries are those in the services sector from restaurants to logistics companies and some small and medium enterprises in the manufacturing sector. The companies now are able to tap on government guaranteed loans under procedures that are supervised by Danajamin.

The benefits, especially the six-month suspension of mortgage and hire-purchase loans would easily increase by more than 50% of the disposable incomes of some 80% of families.

The additional measures announced yesterday would capture the informal workforce who are out of the financial system. Those without a car or housing loan would get something from the government to help tide over the tough period.

The measures are a relieve to stop the economy from going into a tailspin. It is to inject confidence and ensure people keep spending so that we do not end up in a 1930s kind of depression. It is needed to ensure the group of people who have been paying loans are comforted that they have money to put food on the table.

Anybody still debating on the benefits of the moratorium on loans, should know that cash money in hand today is more valuable than having the same amount a year from now.

Interest rates for mortgages and hire purchase are already low and will be low for the next few years. It will not make a difference if loans are to be extended by another six months.

So if anybody wants to give you money at low interest rates, just take it and settle the more expensive loans such as personal financing and credit card bills, unless you have so much money that you don’t need the extra cash flow at the moment.

However, the synchronised stimulus packages around the world would not resuscitate the collapse in the supply-demand forces of the economy. It would neither stimulate demand nor help prompt supply over the longer term.

The stimulus package has given Malaysia a six-month grace period to adjust to the reality of the new economic world. It may take up to a year before things get back to normal. Until then, businesses will continue to suffer and unemployment will go up. Certainly, companies are not going to hire for some time, even in services such as restaurants and retail outlets.

People are not going to frequent restaurants and splurge on non-essential items until they are sure that their jobs and income levels are secure. Spending patterns will change as nobody knows how long it would take for normalcy to emerge.

In the meantime, companies will not know how many staff to retain. A logistics company operating in the KL International Airport is only running four out of the 70 lorries. The company’s fleet of courier vans servicing international clients is still ongoing but the number of trips are reducing.

The owner has told employees that they would get their full salary for the month of March and half salary in April if the Movement Control Order continues beyond mid-April as cash flows are reduced.

The magnitude of the problem is bigger in larger companies. Take for instance AIRASIA Group that employs 29,000 people. Based on the 2018 annual report, its staff cost is RM1.7bil and leasing charges are a further RM1.2bil. It has cash of RM3.2bil. Generally, its burn rate is easily RM250mil a month.

AirAsia has suspended operations in Malaysia until April 21. Assuming operations start after April 21, it is not going to be normal as many countries are in lockdown mode. People are not going to travel unless necessary. The question is how long can AirAsia keep paying staff full salaries?

The common theme in the stimulus packages of the countries is to put money in the hands of the people through various measures, which Malaysia has done.

The United States wants to send out cheques to households while the UK will bear 80% of wages up to a sum of £2,500 per month.

Even Italy, which is the country that is hardest hit by Covid-19 in Europe, came up with a US$28bil package that includes suspension of any firing procedures. The government has said that nobody must lose their jobs because of the virus.

It is easy for the government to say that nobody should lose their jobs because of Covid-19 pandemic. It is hard for the private sector to keep paying staff salaries and prevent closures if the supply-demand dynamics is not mended.

The supply-demand forces in the economy will only come back when the Covid-19 threat abates. Make no mistake about the reality.

The views expressed are the writer’s own.

By M. Shanmugam

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