News by Wong Ee Lin

Bank Negara Malaysia slashed the OPR by another 25 basis points (bps) to a record low of 1.75% on Tuesday. With this, the rate has been cut by 125bps this year.

Most of the local economists contacted are of the view that BNM is unlikely to trim OPR for the rest of the year. It will only do so if the Covid-19 outbreak worsens.

In a statement today, the central bank said Malaysia’s inflationary pressures are expected to be muted in 2020.

While the OPR is already at a low never seen since the Global Financial Crisis in 2009, economists are divided on what BNM will do next.

MBSB president and chief executive officer Datuk Seri Ahmad Zaini Othman said the bank will be focusing on the civil servants’ segment.

MRCB explained that the higher earnings were due to the commencement of revenue recognition from the group’s 1060 Carnegie development in Melbourne upon the handover of units to purchasers, and further construction progress and revenue recognition from the Sentral Suites development in KL Sentral.

“Given these restrictions and possibly the change in consumer behaviour due to fear of contracting the virus, we believe RWG is unlikely to operate at its optimal level until a vaccine is found, which could be at least a year away, according to scientists,” said PublicInvest

According to a statement today, the Resorts World Genting (RWG) will reopen at 10am on Friday with enhanced safety measures in place to ensure the health and safety of all its guests and employees.

The number of new daily cases announced today is the lowest since March 8, 2020.

The bulk of the drop in total cases in the period was in Selangor, down to 130 cases versus 170. The steep fall was mainly in Hulu Langat that saw 23 cases, falling from 58 cases. As such, Hulu Langat was no longer a red zone yesterday.