Malaysia facing the crisis

Malaysian senior health official announced that the pace of country’s new COVID-19 infections appears to be slowing. The data is thought to be the effect of the severe curbs on movement, instituted by the government.

Malaysia has the highest number of coronavirus cases in Southeast Asia, with 2,908 reported infections and 45 deaths, Reuters said. The country has imposed restrictions on travel and non-essential business until April 14.

Malaysia tightened the restrictions further, limiting operating hours for essential businesses such as supermarkets, food delivery services and public transport.

Tourism sector, however, does not see the light. Malaysia’s hotels and tour operators are lamenting the limited assistance offered by the government’s latest economic stimulus package, which has dedicated an additional US$2.3 billion to lift SMEs impacted by the country’s movement control order. The decisionmakers in the tourism industry perceive this as not sufficent and hope that the government would reassess the proposal.

Nevertheless, one glimmer of hope touched Malaysia Airline. Malaysian private firm Golden Skies Ventures has tabled a $2.5 billion bid to take over this cash-strapped flag carrier.

GSV made the offer a month ago, Reuters reports, and has funding commitments from banks.

It is also in talks with private equity firms for additional funding.

GSV was established by aviation executives including former Malaysia Airlines officials.

MMP