Morning Brief

Day 1 of Parliament saw the removal Tan Sri Mohammad Ariff Yusof as the Dewan Rakyat Speaker by a narrow vote majority of 111 votes in favour of the motion, and 109 votes against. We then saw Deputy Speaker, Datuk Nga Kor Ming, resign before a motion to remove him could be voted on, and Former Election Commission Chair Datuk Azhar Harun be sworn in as the new Dewan Rakyat Speaker, without being voted in by the MPs. There was certainly a lot to unpack, so we turned to Dr Hamidin for his analysis of the day's events. Image Credit: Izzudin Abd Razak, BERNAMASee omnystudio.com/listener for privacy information.

Malaysia has raised the poverty line income (PLI) from RM980 to RM2,208, meaning the number of households considered poor has increased from about 25,000 to 400,000. Hawati Abdul Hamid, Senior Research Associate, Khazanah Research Institute makes sense of these numbers and what it means for policymakers. Image Credit: Manan Vatsyayana / AFPSee omnystudio.com/listener for privacy information.

Malaysia has raised the poverty line income (PLI) from RM980 to RM2,208, meaning the number of households considered poor has increased from about 25,000 to 400,000. Hawati Abdul Hamid, Senior Research Associate, Khazanah Research Institute makes sense of these numbers and what it means for policymakers. Image Credit: Manan Vatsyayana / AFPSee omnystudio.com/listener for privacy information.

International students are uncertain if they should return to or enter universities in the fall due to public health concerns. Nick Hillman, Director, Higher Education Policy Institute discusses the issues and sentiments on the ground.See omnystudio.com/listener for privacy information.

The first full Parliamentary sitting of the Perikatan Nasional government is set to see several landmark motions tabled- including a motion to replace the Dewan Rakyat Speaker and one of the Deputy Speakers. We speak to Dr. Bridget Welsh, Honorary Research Associate at the University of Nottingham Asia Research Institute for some insight into the political dynamics informing the sitting, as well as Dhanya Nair, reporter with the BFM News team, for an on the ground perspective of what's happening in Parliament house. Image Credit: EPA-EE See omnystudio.com/listener for privacy information.

On the back of the pandemic, the world has increasingly turned to digital and virtual methods to communicate as physical distancing and movement restrictions guidelines were put in place. This has also been adopted by public listed companies in order to hold their AGMs, however there have been some concerns that virtual AGMs may be a hurdle to the voices of shareholders, particularly with regards to minority shareholders. We explore this with Devanesan Evanson, CEO of Minority Shareholders' Watch Group.See omnystudio.com/listener for privacy information.

The People’s Action Party (PAP) retained power once again but with a lower percentage of popular votes, one of its worst election results while Prime Minister in waiting, Heng Swee Keat only won by a slim majority of 53% of votes in the East Coast GRC. Michael Barr, Associate Professor, Flinders University, and expert in Singapore politics and history, discusses the results and its implications.See omnystudio.com/listener for privacy information.

Every sector has been impacted by Covid 19 including the general insurance industry. With written premiums under pressure especially since auto sales will be weak, we speak to Antony Lee , Chairman , General Insurance Association of Malaysia (PIAM) on how they intend to pivot in the new normal.See omnystudio.com/listener for privacy information.

As if a second wave of Covid wasn't enough, a cabinet reshuffle, plunging economy and a resurgent baht are conspiring to further derail Thailand's growth engine. So what's the Land of Smiles to do? Charnon Boonnuch, Asean Economist, Nomura, offers one view.See omnystudio.com/listener for privacy information.

As if a second wave of Covid wasn't enough, a cabinet reshuffle, plunging economy and a resurgent baht are conspiring to further derail Thailand's growth engine. So what's the Land of Smiles to do? Charnon Boonnuch, Asean Economist, Nomura, offers one view.See omnystudio.com/listener for privacy information.

Every sector has been impacted by Covid 19 including the general insurance industry. With written premiums under pressure especially since auto sales will be weak, we speak to Mohamad Fadzli Hassan, President , Majlis Belia Felda Malaysia on how they intend to pivot in the new normal. Source: Bernama ImagesSee omnystudio.com/listener for privacy information.

Census 2020 is here, and for the first time, it'll be done electronically. Professor Nur Ain Shahrier, Professor of Economics, Sunway University, explains its mechanics, and what the data spells for public development.See omnystudio.com/listener for privacy information.

Amidst alls for GLCs to lead an economic recovery post Covid-19, lingering concerns over a lack of governance and political patronage remain. Prof. Edmund Terence Gomez, Professor of Economics, University Malaya explains.See omnystudio.com/listener for privacy information.

Technology related stocks have been soaring not only in the US but in China. Chelsey Tam, Analyst at Morningstar gives us her opinion on Tencent and Alibaba, the juggernauts of the Chinese technology. She weighs in on the difference between the two and which is a better buy.See omnystudio.com/listener for privacy information.

In the U.S. stocks have been generally rising steadily despite concerns that we may see a reimposition of COVID-19 restrictions now that cases have been rising around the country. We speak to Grant Bowers, Vice President and Portfolio Manager of Franklin Templeton about this disconnect, as well as the prospects of economic recovery.See omnystudio.com/listener for privacy information.

Bank Negara Malaysia announced it is cutting the overnight policy rate (OPR) by 25 basis points to a record low of 1.75% -- marking the fourth straight cut. The central bank's dovish statement remarked that the impact of the pandemic on the global economy has been “severe.” We speak to Julia Goh for her reactions and outlook on the Malaysian economy for 2020.See omnystudio.com/listener for privacy information.

The political grapevine has murmured: Malaysia might go to the polls, potentially giving the country the policy and leadership stability it so badly needs. Oh Ei Sun, Senior Fellow, Singapore Institute of International Affairs, discusses the ramifications.See omnystudio.com/listener for privacy information.

Datuk Shamsuddin Bardan, President of Malaysia Employers Federation weighs in on the recent government decision to freeze the hiring of foreign workers and the impact it has on businesses. We also ask him how dependent we are as a nation on foreign labour and is that the reason why innovation and productivity is low?See omnystudio.com/listener for privacy information.

Singapore's People's Action Party is going for its 15th-straight term in office as the city state heads to the polls. But this time it's different: the pandemic means campaigning is strictly social media. And all 93 seats are being contested. So will it be a PAP procession? Or its Waterloo?  Nydia Ngiow of Bower Group Asia in Singapore elaborates. See omnystudio.com/listener for privacy information.

In the Covid 19 era with the relaxation of the movement control order, can tourism be revived for Penang? A pertinent question we ask YB Yeoh Soon Hin, State Assemblyman for Paya Terubong and Chairman of Penang Tourism, Arts, Culture and Heritage Committee especially in light of George Town World Heritage City Day.See omnystudio.com/listener for privacy information.

Wellian Wiranto, Economist at OCBC Bank gives us his forecast of Malaysia's GDP and what sectors will drive recovery and which will not for 2020. He also weighs in on whether Bank Negara will cut the Overnight Policy Rate from the current 2% at July's Monetary Policy Committee or will they keep their powder dry if the economy weakens further especially post the loan moratorium in September.See omnystudio.com/listener for privacy information.

With its crushing landslide win in the Chini by-election, UMNO / BN has made it 6 of 11 by-election wins, begging the question: if snap elections were to be called now, would the coalition enjoy the same euphoria? Ben Suffian, Programme Director of the Merdeka Center, offers some perspectiveSee omnystudio.com/listener for privacy information.

As India and China lock horns on Tik-Tok's perceived threat to national security and data privacy, doomsayers suggest that technology's so-called weaponisation -- aka 'techno-nationalism' -- offers a lightning rod that reflects wider geopolitical fissures. Alex Capri, Visiting Senior Fellow, NUS Business School, discusses.See omnystudio.com/listener for privacy information.

The government is allowing for some medical tourists to enter Malaysia for treatment. We speak with Datuk Dr Kuljit Singh, President, Association of Private Hospitals Malaysia on the impact of the MCO and Covid-19 on the industry’s fortunes.See omnystudio.com/listener for privacy information.

While countries around the world emerge from their respective lockdowns, fears have now turned towards the possibility of a second wave of infections. How well-prepared are we to weather that possibility? Will other economies in the region be able to withstand a surge in Covid-19 cases? To help us answer this question, we speak to Suhaimi Ilias, Chief Economist at Maybank Kim Eng, who together with the regional economics team recently issued a report entitled "COVID-19: Off Lockdown Lows, But Wave Woes Next...?"See omnystudio.com/listener for privacy information.

The Malaysia Electronic Sports Federation (MESF) has announced a RM140 million partnership agreement with Dynasty Esports, to create an official national esports platform for Malaysia. This is slated to feature the country’s first leaderboard and ranking system for respective esports game titles for Malaysians, a national esports calendar for esports-related activities within the nation, and events featuring Malaysian athletes. With these kinds of future plans underway, we take a look at the size of the gaming and eSports ecosystem in Malaysia and its contribution to the economy.See omnystudio.com/listener for privacy information.

As the economy begins to reopen, we speak to Darryl Ong, President, Malaysian E-Hailing Drivers Association on how the E-hailing industry has coped during this time and the effectiveness of PENJANA and PRIHATIN in supporting the drivers.See omnystudio.com/listener for privacy information.

For the next three months, all stock of Remdesivir has been brought up by the United States, leaving none for the rest of the world. The drug is the first to be approved by licensing authorities in the US to treat Covid-19 and it has been shown to help people recover faster from the disease, and this unilateral move by the United States has raised alarms about its wider implications, namely in the event when a vaccine becomes available. This possibly shows the extent of which the Trump administration is willing to go to outbid and outmanoeuvre all other countries to secure the medical supplies it needs for the country, so with this in mind, how do we ensure that a potential vaccine can meet global demand and be adequately distributed?See omnystudio.com/listener for privacy information.

The Malaysian Anti-Corruption Commission has recently appointed 24 new independent members to 3 different committees. To understand better the workings of MACC, and whether they will be able to strengthen governance within the anti-graft body, we speak to Alex Tan, Forensics and Risk Leader at PwC Malaysia.See omnystudio.com/listener for privacy information.

With Joe Biden set to be the Democratic Party’s nominee for the upcoming US presidential elections, all eyes are now on who will be his pick for the Vice President post. Robert Shapiro, Professor of Government at Columbia University shares his thoughts on who is the most promising candidate and what will influence Biden's choice.See omnystudio.com/listener for privacy information.

Now that the MCO has been lifted and people are returning to the daily grind, businesses are hopeful that people will start spending again. And it’s a sentiment shared by Minister in the Prime Minister's Department for Economic Affairs, Datuk Seri Mustapa Mohamed. Earlier this week in an op-ed he wrote, he called on Malaysians to start spending in order to help our economy, and according to some numbers out of the Statistics Department, 90% of workers have returned to work but retail performance is only at 30% of pre-MCO levels. Now there are many reasons for this as the pandemic has left some jobless or having to take massive pay cuts, and those life-changing events are hard to bounce back from. So how do we rebuild confidence and help revive the economy under challenging circumstances?See omnystudio.com/listener for privacy information.

As the impact of COVID-19 unfolds, the structural gaps have been exposed in our economy. The government has responded with various short-term measures, but such initiatives have mainly been government led and focused on short to medium term, particularly liquidity issues, but realistically there’s only so much the government can do. In the longer term, the Institute of Capital Markets Research Malaysia (ICMR), thinks that capital markets can play a bigger role in addressing these concerns and hopefully build a more resilient economy post COVID-19.ICMR is an independent research institute commissioned by the Securities Commission Malaysia (SC) to promote sustainable development of the Malaysian capital marketSee omnystudio.com/listener for privacy information.

With the support of the US, Israel is initiating annexation of up to 30% of the West Bank despite protests from Palestine and the international community. James Dorsey, Senior Fellow, S. Rajaratnam School of International Studies & the Middle East Institute in Singapore, helps us analyse the legality and complexity of the situation.See omnystudio.com/listener for privacy information.

The MCO has disrupted consumption patterns and advertising spend and also caused several well-known media brands to cease publications and cut jobs in Malaysia. Jon-Paul Best,Managing Director, Nielsen Media Malaysia predicts ad trends, and how media companies could survive.See omnystudio.com/listener for privacy information.

Under the Prihatin Rakyat Economic Stimulus Package, Bank Negara Malaysia announced an automatic moratorium on all loan repayments by individuals and SMEs for six months. With September not too far away, questions are being asked about whether loan moratoriums should be extended. With that in mind, we speak to Carmelo about this and the potential impact on the wider financial system?See omnystudio.com/listener for privacy information.

Over the weekend, reports emerged that Prime Minister Tan Sri Muhyiddin Yassin is seeking to replace Tan Sri Mohamad Ariff Md Yusof as Dewan Rakyat Speaker. The motion, which also includes Deputy Speaker Nga Kor Ming, is set to be tabled on July 13th, when Parliament reconvenes. For a better understanding of the constitutionality of the move, and how it will affect the no-confidence vote also expected to be tabled in this parliamentary sitting, we reached out to constitutional lawyer Lim Wei Jiet, for his thoughts.See omnystudio.com/listener for privacy information.

Over the weekend, reports emerged that Prime Minister Tan Sri Muhyiddin Yassin is seeking to replace Tan Sri Mohamad Ariff Md Yusof as Dewan Rakyat Speaker. The motion, which also includes Deputy Speaker Nga Kor Ming, is set to be tabled on July 13th, when Parliament reconvenes. For a better understanding of the constitutionality of the move, and how it will affect the no-confidence vote also expected to be tabled in this parliamentary sitting, we reached out to constitutional lawyer Lim Wei Jiet, for his thoughts.See omnystudio.com/listener for privacy information.

Pakatan Harapan Plus has endorsed Datuk Seri Shafie Apdal as their prime ministerial candidate. James Chin, Professor of Asian Studies at the University of Tasmania weighs in on this issue and what PKR is likely to do next.See omnystudio.com/listener for privacy information.

Top rubber glove companies in Malaysia have reported stellar results due to the Covid-19 pandemic. Denis Low, President, Malaysian Rubber Gloves Manufacturers Association predicts what’s in store for the industry.See omnystudio.com/listener for privacy information.

The coronavirus has fundamentally altered consumer behaviour around the world. It has not only affected crucial factors that determine our spending habits such as income, consumer confidence or mobility, but also altered how and where people choose to spend or save their money. We turn our eye specifically to the European region to study how far has the pandemic impacted consumption, savings as well as travel spending. In particular since Europe was second to close their borders after China.See omnystudio.com/listener for privacy information.

Growth has slowed and business is suffering. Which makes the protection of ordinary Malaysians all the more important. Achim Schmillen, Senior Economist for Social Protection & Labour, World Bank Group, discusses the adequacy of Malaysia's social protection measures.See omnystudio.com/listener for privacy information.

Working from home appears to be the new normal but there are obvious and some not-so-obvious ramifications for doing so. Siti Aiysyah Tumin, Research Associate, Khazanah Research Institute, discusses.See omnystudio.com/listener for privacy information.

With Covid -19 and the global recession, the US elections in November would seem to be an inconsequential event for US equity markets. However, history has a habit of repeating itself, so we speak to Ed Clissold, Chief US Strategist at Ned Davis Research to find out how markets might move pre and post elections which is now uncertain especially since incumbent Donald Trump may not be back in the White House in November.See omnystudio.com/listener for privacy information.

The palm oil sector supply chain, what can be considered an essential service during the many phases of the movement control order was largely not impacted by Covid-19. We ask Khor Yu Leng whether demand is the real issue here and if the restriction on foreign labour will be a  problem for Malaysia’s most important agricultural export.See omnystudio.com/listener for privacy information.

Prof. Mohd Tajuddin Rasdi, social commentator and long time observer of Malaysian politics gives us his views on the Tun Mahathir - Datuk Seri Anwar spat. He also wades into recent attempts by DAP to relaunch itself as a multi-racial and age diversified party and whether that will be successful.See omnystudio.com/listener for privacy information.

Purchasing managers’ index data for the Eurozone indicates that the region's recovery is gathering momentum. Kenneth Wattret, Chief Europe Economist at IHS Markit, discusses this theme as well as the various stimulus programs proposed to further reinvigorate the zone.See omnystudio.com/listener for privacy information.

Prime Minister Lee Hsien Loong has called for early elections in a move that was not entirely a surprise as there were hints of it. So for Singapore's 13th elections since independence, the economy and the handling of the Covid-19 are likely to be main issues that will be discussed. We speak to Chong Ja Ian, Associate Professor, Department of Political Science at the National University of Singapore for his views on this matter and also ask if a PAP win is a foregone conclusion.See omnystudio.com/listener for privacy information.

One suggestion for Malaysia to revive the important tourism industry is to create travel bubbles but only for international business travelers from countries which have contained the Covid-19 virus like Singapore, Australia, Hong Kong and Japan. However many questions arise as to the viability of this and also what happens if there is another virus outbreak. Nigel Wong, Honorary Secretary General, Malaysian Association of Tour and Travel Agents attempts to answer these questions and more.See omnystudio.com/listener for privacy information.

The Minister of Human Resources Datuk Seri M. Saravanan announced that the government will freeze recruitment of new foreign workers in all sectors until the end of the year. The rationale for this move was to reduce the dependency on foreign labour and also give job priority to locals. As to whether this will achieve the objectives, we speak to Dr M.Niaz Asadullah, Southeast Asia Lead of the Global Labor Organization for his views.See omnystudio.com/listener for privacy information.

For the once-autonomous city state of Hong Kong, the looming spectre of Chinese rule is looming large, as the prospect of an all-powerful security agency and new, possibly draconian laws, is said to soon pass. Carole Petersen, Professor of Law and Graduate Chair, Matsunaga Institute for Peace and Conflict Resolution, discusses the legal and judicial implications.See omnystudio.com/listener for privacy information.