Morning Brief

The Finance Minister had announced a slew of additional reliefs under Budget 2021 after taking into account feedback from MPs. One of them is to allow qualified EPF members to withdraw from Account 1. Dr Juita Mohamad, Fellow at the Institute of Strategic and International Studies (ISIS), discusses the merits of these measures and the impact on GDP and fiscal deficit. Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

After the opposition opted out of bloc voting on Budget 2021, the pressure is on Dato' Seri Anwar Ibrahim to show that he truly commands majority support. We discuss with Dr Oh Ei Sun, Senior Fellow at the Singapore Institute of International Affairs, on the likelihood of Anwar stepping down and Pakatan Harapan’s chances if a general election is called soon. Image Credit: AMRUL AZUAR MOKHTAR / Shutterstock.comSee omnystudio.com/listener for privacy information.

Last Wednesday, Carrie Lam delivered her longest policy address to bolster Hong Kong’s economy. Michael Frank, Senior Analyst of Public Policy at the Economist Intelligence Unit (EIU), discusses key aspects of the speech, including the lack of engagement on the controversial national security law. Image Credit: EPA-EFESee omnystudio.com/listener for privacy information.

Budget 2021 was passed with a voice vote after a bloc gambit failed to get the necessary support to proceed. Ben Suffian, Programme Director at Merdeka Center, gives us his views on what might have happened behind the scenes. He also weighs in on the future of Pakatan Harapan and whether this political misstep is repairable in the eyes of their supporters and even party members. Image Credit: Bonma Suriya / Shutterstock.comSee omnystudio.com/listener for privacy information.

Muar MP and former Youth and Sports Minister, Syed Saddiq, tells us why he disagrees with the decision to revive the National Service Training Programme. He also explains what happened in Parliament during the first vote for Budget 2021 and why the opposition failed to follow through on their planned bloc vote.See omnystudio.com/listener for privacy information.

UK Chancellor, Rishi Sunak, painted a dire picture for the UK economy as a result of the pandemic, in the government’s Spending Review, with an expected contraction of 11.3% this year. We speak to Patrick Diamond, public policy expert, on what the Spending Review says about the government’s priorities for the coming year. Image Credit: EPA-EFESee omnystudio.com/listener for privacy information.

The revocation of cabotage exemptions for foreign ships to conduct undersea cable repairs has been lauded by the local shipping industry as an act of patriotism that will preserve domestic interests. We hear from industry leader, Dato’ Abdul Hak Md. Amin, on why he thinks the cabotage policy makes sense, and how it can promote the growth of the Malaysian shipping industry. Image Credit: hkhtt hj / Shutterstock.comSee omnystudio.com/listener for privacy information.

Will Budget 2021 be passed? Will this be Malaysia's first Unity Budget that receives multi-partisan support? Wong Chen, Member of Parliament for Subang, gives us an update whilst reminding us that the day-to-day work of the government still continues even if the Budget is not passed. Image Credit: S.O / Shutterstock.comSee omnystudio.com/listener for privacy information.

Bitcoin mania is back, but will it last? Bitcoin breached its record high in 2017, surpassing $19,500 this week, and is up more than 40% in November alone, while more than doubling in 2020. While bitcoin did crash following the 2017 rally, this time around the cryptocurrency is backed by broader mainstream adoption. So is this time different? Is there more upside to the Bitcoin boom? Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Malaysia is becoming an ageing society, and according to The World Bank, this could have repercussions for the economy and our social protection systems. But is raising the minimum retirement age the answer? We speak to Laurence Todd of IDEAS about this and more. Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Although the Finance Minister Tengku Dato’ Sri Zafrul Aziz has said that no new taxes will be introduced until the economy recovers, it’s worth discussing the different options to fill government coffers that have been depleted by the pandemic. To this end, the Ministry of Finance has set up a committee to study various ways to enhance government revenues, including the proposal to reinstate the Goods and Services Tax (GST). We speak to Ng Sue Lynn, Head of Indirect Tax at KPMG Malaysia, on factors the government should consider if GST were to make a comeback. Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Although the Finance Minister Dato’ Sri Tengku Zafrul Aziz has said that no new taxes will be introduced until the economy recovers, it’s worth discussing the different options to fill government coffers that have been depleted by the pandemic. To this end, the Ministry of Finance has set up a committee to study various ways to enhance government revenues, including the proposal to reinstate the Goods and Services Tax (GST). We speak to Ng Sue Lynn, Head of Indirect Tax at KPMG Malaysia, on factors the government should consider if GST were to make a comeback. Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Fifteen Asia Pacific countries have signed the largely China-backed Regional Comprehensive Economic Partnership, otherwise known as RCEP. India, however, is not one of them. The country opted out after negotiations failed to address their concern on the elimination of tariffs, which would open India’s markets to imports and harm local producers. India’s reluctance to free trade agreements is nothing new; according to the Global Trade Alert database, the country comes second, among the larger economies within the G20 group, in imposing restriction on trade. Will India’s withdrawal from the RCEP and its rising protectionism hurt it in the long run? Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

After noting that the number of Covid-19 cases in Sabah has dropped in the last few weeks, the Health Ministry has lifted the mandatory 14-day quarantine for Sabah returnees moving forward. However, this comes on the back of news that the country has hit a new record high of cases nationwide. Azrul Khalid of the Galen Centre for Health & Social Policy talks to us about this move and shares his thoughts on the progress of our CMCO. Image Credit: Alen thien / Shutterstock.comSee omnystudio.com/listener for privacy information.

With Malaysia facing a third wave of Covid-19 case, we speak to Tan Sri Dr Jemilah Mahmood, Special Adviser to the Prime Minister on Public Health, on what is the best approach towards flattening the pandemic curve. We also ask if the CMCO is the right balance between public health and the economy, as well as discuss whether the accusations that the government is withholding data are fair. Image Credit: Afif Abd. Halim / Shutterstock.comSee omnystudio.com/listener for privacy information.

The Singaporean government projects the country's economy will grow between 4-6% next year, but amidst a pandemic that has not abated, how likely is this for a country so vulnerable to external shocks? We speak to Khoon Goh about Singapore's third-quarter economic data as well as its outlook. Image Credit: i359702 / Shutterstock.comSee omnystudio.com/listener for privacy information.

Parliament is expected to vote on whether to pass Budget 2021 through to the third reading this week. It’s widely seen as a de facto no-confidence motion against Tan Sri Muhyiddin Yassin’s government. James Chin, Professor of Asian Studies at the University of Tasmania, reminds us of the political negotiations behind the scenes whilst revealing what each political party is asking for. Image Credit: Naufal Zaquan / Shutterstock.comSee omnystudio.com/listener for privacy information.

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Covid-19 enabled the government to declare a state of emergency -- and therefore a postponement -- of the Batu Sapi by-election in Sandakan. But critics question: was it a politically expedient tool that allowed Gabungan Rakyat Sabah and Perikatan Nasional to re-strategise their battle plan, or truly an act of compassion designed to halt the pandemic's spread? Dr Hamidin Abdul Hamid, Research Fellow at Ilham Centre, discusses. Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Even as its valuations skyrocket and mass Electric Vehicle (EV) uptake remains a distant proposition, Elon Musk's Tesla continues to defy gravity. Its latest boost? Inclusion in the S&P 500. Daniel Ives, Managing Director for Equities Research at Wedbush Securities, discusses its earnings and share prospects. Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Malaysia hosted the first-ever virtual APEC Leaders Meeting last Friday with 21 economies participating, which was concluded with a Putrajaya Vision. However, how important is the APEC forum in the broader multilateral landscape, especially where trade is concerned? Aidonna Jan Ayub, Deputy Director at the Khazanah Research Institute, answers this question whilst also reminding us of the challenges ahead for this global trading community. Image Credit: EPA-EFESee omnystudio.com/listener for privacy information.

The recent spike in new cases this week from a construction site cluster in Damansara has raised questions over Malaysia's treatment of its labour workforce, and whether SOPs can be properly carried out in dormitories. Considering Singapore faced an outbreak in its migrant worker dormitories back in April, it is vital that Malaysia also takes action to ensure the same does not happen here. We reached out to Dr Tharani Loganathan, Public Health Specialist at the University of Malaya, to shed some light on dormitory regulations, the challenge of implementing SOPs within migrant communities, and what the government and employers must do to diffuse the risk of more clusters. Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

What does the Ant IPO suspension say about President Xi Jinping’s strategic direction for China and the Communist Party in the years to come? The Morning Run dives into this and whether this could lead to the stifling of innovation in China, as well as thoughts on President Xi's long-term vision for the CCP and China, whether he intends to remain in power beyond 2022, and US-China relations with a Biden administration in the White House. Image Credit: Gil Corzo / Shutterstock.comSee omnystudio.com/listener for privacy information.

The Covid-19 pandemic has resulted in school closures around the world, with many students left in the lurch, uncertain of whether they will be able to continue their studies or get into university this year. Yet, the impact of the coronavirus on our children may be greater than we suspect. In conjunction with Universal Children's Day, we look into the growing consequences that the pandemic is having on our children with Dr Rashed Mustafa Sarwar, Representative for UNICEF in Malaysia. Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

November marks the start of the northeast monsoon season, raising the risk of heavy rains and flooding in states like Kelantan and Terengganu. However, being displaced from their homes isn't the only threat to residents in these affected areas - in rural parts of Kelantan, and even Sabah and Sarawak, a dearth of infrastructure leaves local inhabitants without access to basic needs like proper sanitation and toilets. In conjunction with World Toilet Day, we speak to Said Alhudzari, General Manager of Program Operations at MERCY Malaysia, for a look at the situation on the ground. Image Credit: EPA-EFESee omnystudio.com/listener for privacy information.

Pfizer may be the first drugmaker to file for US regulatory authorization for its Covid-19 vaccine, which it says is 95% effective with no serious side effects. This comes right on the heels of news out of Moderna, which says its vaccine also stands at over 94%. With hopes rising that we may see a vaccine in distribution by the end of the year, we speak to Sam Fazeli, Senior Healthcare Analyst at Bloomberg Intelligence, about whether this is truly a cause for excitement. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

Can UMNO reform from within? The Morning Run speaks to Dr Bridget Welsh on the push for reform in UMNO, how much traction there is for young leaders to rise within the party, and why reformists don't spin-off to form their own party. We also get her thoughts on the Emergency Declaration in Batu Sapi. Image Credit: Mohd Nasri Bin Mohd Zain / ShutterstockSee omnystudio.com/listener for privacy information.

EPF’s i-Sinar scheme of allowing members who lost their jobs to take an advance on their retirement savings has attracted mixed feedback. Dr Geoffrey Williams, Professor at HELP University, discusses alternatives to funding social protection for Malaysians at large. Image Credit: Ismail Sadiron / Shutterstock See omnystudio.com/listener for privacy information.

Is President Trump out of line in refusing to concede and denying President-elect Joe Biden a smooth transition of power? Mark Rozell breaks down the process of the presidential transition, its importance, what it entails, and Joe Biden's options.See omnystudio.com/listener for privacy information.

The Federal Territories Ministry has declared Kuala Lumpur, Putrajaya and Labuan as free trade areas for five months. Nik Nazmi Nik Ahmad, MP for Setiawangsa, weighs in on the pros and cons of this measure. Image Credit: Nazri Yaakub / ShutterstockSee omnystudio.com/listener for privacy information.

EPF has announced a new scheme called i-Sinar, which will allow active members who have lost their jobs, or who have no source of income, to withdraw a certain amount from their EPF Account 1, depending on their existing account balances. The Morning Run team discusses the impact this will have on long-term retirement planning as well as Malaysia's capital markets, with comments from EPF CEO Tunku Alizakri Alias. Image Credit: Ismail Sadiron / ShutterstockSee omnystudio.com/listener for privacy information.

What happens if Budget 2021 doesn’t receive the votes it needs to be passed in Parliament? We explore this question with constitutional lawyer Lim Wei Jiet. The Morning Run also gets into the parliamentary process of passing a Budget bill, what happens if the budget doesn’t get the votes it needs at the third reading, the options thereafter, and whether a failure to pass the Budget means that government salaries get stalled. Image Credit: S.O / Shutterstock.comSee omnystudio.com/listener for privacy information.

Last week, 15 countries signed the Regional Comprehensive Economic Partnership (RCEP) after nearly a decade of negotiations, creating the world's largest trading bloc. We investigate how much of an impact Malaysia and other countries will feel from RCEP, as well as whether this new bloc will pressure a new US administration into revisiting the CPTPP, with Dr Jayant Menon, Visiting Senior Fellow at the ISEAS-Yusof Ishak Institute. Image Credit: EPA-EFESee omnystudio.com/listener for privacy information.

Individuals, as well as businesses, have had to remake themselves in order to survive in this new normal. But are training and re-skilling services equally accessible to everyone? What are the obstacles that one might face in attempting to re-skill? We speak to Edwin Goh, Policy Researcher at think tank The Centre, who conducted a study which found that many in the informal sector still face several obstacles in getting re-skilled. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

Deputy Minister of Youth and Sports, Wan Ahmad Fayhsal Wan Ahmad Kamal, explains Budget 2021 incentives to create jobs for youth, and recommends that Bank Negara Malaysia should print money and give it directly to citizens. Image Credit: Azlan KamarazamanSee omnystudio.com/listener for privacy information.

Dr Mario Hardy, CEO of the Pacific Asia Travel Association (PATA), discusses his outlook for the tourism industry in light of travel bubble arrangements and the news that a vaccine might be released in the second half of 2021. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

Malaysia’s Q3 GDP rebounded significantly from the second quarter, but will the ongoing CMCO stall Malaysia's path to recovery? The improved performance in Q3 largely reflected the impact of the reopening of the economy after the MCO as well as better external demand conditions. Overall for 2020, Bank Negara projects that GDP will contract by between 3.5% and 5.5%, and forecasts clearer skies in 2021, with GDP expected to grow between 6.5 and 7.5%. Image Credit: Kamarulzamanganu / ShutterstockSee omnystudio.com/listener for privacy information.

Budget 2021 allocated RM4.5 million to the state of Sarawak, which was followed closely by the state government’s tabling of RM9.8 million in additional state spending. But is that going to be enough for Sarawak’s recovery and infrastructure development? To help us answer this question, we reached out to Dr Dayang Affizzah Awang Marikan, Associate Professor at the Faculty of Economics and Business, Universiti Malaysia Sarawak. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

Budget 2021 allocated RM4.5 million to the state of Sarawak, which was followed closely by the state government’s tabling of RM9.8 million in additional state spending. But is that going to be enough for Sarawak’s recovery and infrastructure development? To help us answer this question, we reached out to Dr Dayang Affizzah Awang Marikan, Associate Professor at the Faculty of Economics and Business, Universiti Malaysia Sarawak. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

Southeast Asia saw the addition of 40 million new internet service users in 2020, with 1 in 3 starting to use digital services as a result of Covid-19. According to the e-Conomy SEA Report put together by Bain, Temasek, and Google, the region’s internet economy is poised to triple by the year 2025. For more insight, we speak to Alessandro Cannarsi, Partner in Private Equity and Digital Practice at Bain Southeast Asia, about the growth of the tech scene, and the region’s potential for further development. Image Credit: Shalstock / ShutterstockSee omnystudio.com/listener for privacy information.

The retail sector has been hit hard by the Covid-19 pandemic and successive economic lockdowns, with no end in sight as globally cases are on the rise. The Malaysia Retail Industry Report estimated that over 50,000 stores are expected to close over the next few months. So, following the release of Budget 2021 last Friday, we speak to Shirley Tay, President of the Malaysia Retail Chain Association (MRCA), about what more needs to be done in order to rescue this beleaguered industry. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

This year, Alibaba pulled in a whopping $74 billion from its Singles Day sales, doubling its previous record. Could this be an indication of how much Chinese consumer spending has recovered? We speak to Catherine Lim, Asia Senior Consumer Analyst at Bloomberg Intelligence. Image Credit: Christopher Penler / ShutterstockSee omnystudio.com/listener for privacy information.

Budget 2021 was tabled for its first reading in Parliament on Friday, amidst hopes the country will be able to return to growth by 2021. In order to do that, the task of attracting more foreign direct investments (FDI) will be more important than ever. We're asking InvestKL CEO, Muhammad Azmi Zulkifli, whether Budget 2021 has sweetened the deal enough to bring more investors into the country. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

The third wave of the Covid-19 outbreak in the country has seen Sabah rapidly become the worst affected state, with the total number of infections in mid-October overtaking both Selangor and Kuala Lumpur combined. Its frontliners and its people are in desperate need of aid, so on the back of Sabah's allocation of RM5.1 billion in development expenditure in Budget 2021, we speak to Dr Firdausi Suffian, Political Economist at UiTM Sabah, on whether Sabah is getting enough to spur economic recovery. Image Credit: Msbunny / ShutterstockSee omnystudio.com/listener for privacy information.

In the newly announced Budget 2021, RM9 billion will be allocated to generating and retaining jobs. This includes hiring incentives, reskilling programs, short-term employment programs in the public sector and GLCs, and targeted wage subsidies. But was there enough to ensure long-term growth in the labour market? We discuss the potential effectiveness and scope of these measures, the concentration of jobs in more developed states in Malaysia, as well as thoughts on long-term job creation. Image Credit: Syariff Hidayatullah / ShutterstockSee omnystudio.com/listener for privacy information.

We’re one step closer to getting a Covid-19 vaccine, but on the back of this positive news, what concerns should we be paying attention to? The Pfizer and BioNTech team have announced that the vaccine they’re developing is 90% effective in protecting people from the transmission of the Covid-19 virus in global trials. Based on the interim analysis, which will continue till December, the vaccine has performed better than expected, with no safety concerns to report so far. Pfizer and BioNTech are looking at globally supplying up to 50 million vaccine doses in 2020, and up to 1.3 billion doses in 2021. There’s no doubt that this is good news, but the public has been advised to be cautiously optimistic as full data is not available yet and that the trials are ongoing. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

The government of the day is allocating RM50 billion to Budget 2021 for education, where a large chunk of it will go into improving, maintaining and repairing public schools. Is this allocation enough to address the impact that the pandemic has had on schools and students? We speak to Professor Nor Faridah Abdul Manaf for her thoughts here, as well as her view on the most pressing education issues, initiatives she would have liked to see in Budget 2021, and the impact of the closing of schools on students. Image Credit: Safwan Abd Rahman / Shutterstock.comSee omnystudio.com/listener for privacy information.

Datuk Ahmad Asri Hamid, Chief Executive of the Construction Industry Development Board (CIDB), tells us how this sector and the broader economy will benefit from the RM15 billion allocated for infrastructure projects. He also reminds us of the importance of raising the bar for small to medium construction players to enable them to compete, whilst also encouraging them towards mechanization. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

Budget 2021 contained a slew of initiatives to address the social protection needs of vulnerable groups who are suffering from the economic fallout of Covid-19. Tan Sri Nor Mohamed Yakcop, Chairman of Khazanah Research Institute, gives us his views on the initiatives announced and whether it goes far enough. He also reminds us of the role that government-linked companies (GLCs) can play in providing social protection. Image Credit: Izlan Somai / ShutterstockSee omnystudio.com/listener for privacy information.

As President-elect Joe Biden prepares to take the helm, how might US foreign policy change? We speak to Dr Malcom Cook for his thoughts here, the international community's reaction to the election, how countries in Southeast Asia will view this, and what this means for China's influence in the region. Image Credit: Ron Adar / ShutterstockSee omnystudio.com/listener for privacy information.