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Key Highlights

  • Ringgit slide puts pressure on PM

  • Bersih to march

  • Tourism Malaysia DG demoted

Ringgit slide puts pressure on PM

In 2017, when the ringgit slid to RM4.44 to a US dollar, then de facto opposition leader Anwar Ibrahim said it was directly connected to the negative perception of the Najib Abdul Razak administration’s management of the economy.

Now, it is Anwar’s turn to face the heat after the ringgit dipped to RM4.8 to a US dollar on Tuesday - the lowest since the 1998 Asian Financial Crisis.

Anwar has called on critics not to turn the currency slide into a political punching bag.

He also repeatedly emphasises that despite the weakening ringgit, investor confidence in Malaysia remains high, while inflation and unemployment are low, unlike in 1998.

He said that Japan, China, and the rest of Asean - except Singapore - were also facing a currency decline compared to the US dollar.

HIGHLIGHTS

Anwar's FDI figures: PKR MP says too early to celebrate
Don't blame ringgit depreciation on opposition - Muhyiddin
Economist: External factors matter, but issue is M'sian competitiveness

Bersih to march

Bersih will be marching towards Parliament this Tuesday to demand legislative reforms from the government.

Tuesday is when the Dewan Rakyat will begin debates and legislating, after the Yang di-Pertuan Agong's opening address on Monday.

The Bersih march is part of their “reformasi 100 peratus” (100 percent reforms) campaign.

Among the reforms sought are prime minister term limits, enhanced whistleblower protection, and a review of the Sedition Act.

Police have warned the public against joining the march as Bersih had not submitted a five-day notice as per the Peaceful Assembly Act.

HIGHLIGHTS

PM indicates targeted subsidies will be through cash transfers
Nenggiri Dam won't just destroy Orang Asli villages, activists claim
Establish independent team to probe Beng Hock's death, govt told

Tourism Malaysia DG demoted

Tourism Malaysia director-general Ammar Abd Ghapar has been demoted to deputy director-general.

Ammar said the reason for his demotion was not made clear to him.

However, Tourism, Arts, and Culture Minister Tiong King Sing said it was because Ammar was allegedly underperforming.

The Tourism Malaysia board, in supporting the minister, said that while tourism arrivals and receipts have improved it was still far behind pre-pandemic levels.

HIGHLIGHTS

Union slams manner of Tourism DG’s removal
Burasak, uthappam, bak kut teh gazetted as heritage foods
Activist: Over 100 Bangladeshi workers left in limbo in Cheras

Views that matter

Ringgit slide: Parallels to 1998
By Bridget Welsh
Seven suggestions to arrest ringgit slide
By Howard Lee
The last white-haired (Pek Moh) Rajah of Sarawak
By Mariam Mokhtar

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