The Covid-19 Outbreak Is a Double-Barrelled Threat - Our Very Lives and Livelihood Are in Danger
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Alvin Dear PM, PP19507/11/2019 (035148) APRILAPRIL 2020 2020 Chong we need 0404 soars high to be more in showbiz transparent despite the P. 6 obstacles. Read about it in PURSUIT 04 PP 19339/05/2018(034908) 9 772289 234001 www.focusmalaysia.my MONTHLY APRIL 2020 MALAYSIA RM8 | ISSUE 04 Conversations Four airlines Focus List Push for Liew ask for Finding banking Chin financial aid undervalued mergers on Tong from MoF stocks the cards? P.14&16 P.18,20&22 P.24-25 P.36 Softening the blow The Covid-19 outbreak is a double-barrelled threat - our very lives and livelihood are in danger. Are the government’s efforts enough to mitigate the impact of the virus? P.8-10&12 2 contents FocusM | April 2020 • How is the Covid-19 pandemic affecting Malaysia, from people’s lives to their livelihood? • What can we expect from Covid-19, and what can we do to mitigate the risks? P.8-10,12 26 30-31 Mainstream 35 Points2Ponder: What will be your priority, transport minister? 4 Supply chain disrupted, says Westports CEO 36 A push for banking consolidation on the horizon? 6 PoundFoolish: Dear Prime Minister, we need more transparency Property 6 Will FGV’s obligation to Felda scuttle its turnaround? 26 Partial certification unacceptable for housing projects 14-16 Conversations: In search of a Malaysian identity 27 Will more theme parks close down? 18 AirAsia, MAB, Malindo, Firefly seek financial aid from MoF, say sources 28-29 How Covid-19 and politics affect the property sector 20 QuestionTime: Should airlines in Malaysia be saved? 30-31 Malls must evolve to stay relevant How? 37 32-33 Smart city: Leveraging on master plan towards 22 Should the government bail out airlines? shared prosperity 22 Covid-19 and its impact on the auto industry Columns 24-25 FocusList: Finding undervalued stocks amidst 37 Covid-19 package: The woes of a small business market turmoil owner 34 Lifting the Fog: Video games, crude oil and the global 38 Perikatan Nasional mustn’t lose sight of reform economy agenda 34 M’sian autos attempt the world… again! 39 Steep learning curve for Tengku Zafrul as he faces multitude of challenges 44 Focus Malaysia wishes to announce that there will be no printed monthly copy for April in view of the Movement Control Order. Publication will resume after the MCO is lifted. The full digital copy of the monthly can be downloaded at our website, focusmalaysia.my. April 2020 | FocusM contents 3 Happenings 2 Your local favourite at Feast Bazaar Santapan muhibbah at Le Meridien Breaking fast at Warongku Sedap buffet dinner for all Fashion 51 4 Best of rose gold A grand way to tell time Bright stripes, big city 6 A celebration of the Taj Mahal Naelofar go far Shine bright like a diamond Spreading the Southeast Asia power 7 Towards a perfect glow Sleep companions for travel Solution for skin concerns 53 Twist on a beloved handbag 8-9 Cover Story 8-9 Striding towards 39 Discounts galore but any takers? Markets success 40 The next global recession may come from China 50 Is global recession coming? People 40 Share buybacks enable predatory value extraction Enterprise 10 The best that you can 41 QuestionTime: How you and I finance most of the be 51 Socar Malaysia is all for the gig economy, says CEO RM20 bil stimulus Passion for Peranakan jewellery 52 Beam improves last-mile connectivity with new 42 A guide for the new PM to deliver on his pledge scooter fleet Lifestyle 43 The man who helped change my life 53 Stimulus package not helping SMEs much, additional 11 Take a sip of Italian 44 The future of healthcare industry after the pandemic measures needed coffee Coffee time with 45 State intervention necessary to overcome Covid-19 Income+ Benson threats Fusion kampung 54 Time to buy stocks? coffee at Qulu Qulu 46 Some approaches to deal with Covid-19 54 Should you contribute less to EPF? Digitalisation of art 47 New Cabinet must act fast to battle Covid-19 55 Does your insurer offer extra coverage for Covid-19 Stay 48 QuestionTime: Are AirAsia’s Fernandes, Kamarudin for free? 12 Home away from home cleared of Airbus bribery scandal? 13 As the heart desires 56 Why are more people buying life insurance? 49 Stronger UN leadership needed to cope with coronavirus threat Gourmet 14 Best of both worlds Tuts-ally for you EDITORIAL ADVERTISING CUSTOMER HOTLINES Editor-in-Chief: P Gunasegaram Sales Director: Pearly Ng (012) 201 2139 Tel: 603-7710 3883 Executive Editors: Amie Ong, Doreenn Leong Sales Support Executive: Parimala Devi (012) 242 4122 Fax: 603-7710 3882 Senior Writers: Emmanuel Samarathisa, Ranjit Singh Writers: Xavier Kong, Sharina Ahmad, Chee Jo-Ey Editorial: Ext 106 Sub- Editor: Geraldine Tan EVENTS & MARKETING Email: [email protected] Sales Director: Jasmine Cheng (017) 271 7722 Senior Designers: Eugnice Han, Quek Chun Leng Advertising: Ext 107 Senior Manager: Terry Chong (012) 708 6833 12 Designer: Purvinn Raj Chai Email: [email protected] Photographer: Iqbal Ismail Account Manager: Matthew Foo (012) 480 3141 Circulation: Ext 122 Email: [email protected] CIRCULATION & PRODUCTION CORPORATE Subscription: Ext 122 & 101 Manager: Kanna Matthew (012) 507 0750 Executive Director, Business Development: Email: [email protected] Christopher Ang Executive: Silas Emmanuel (014) 640 4733 Focus Malaysia is published by: Milan Integrasi Sdn Bhd (1251956-w) Unit 6.13, Level 6, 1Tech Park, Jalan Tanjung Bandar Utama, 47800 Petaling Jaya, Selangor Darul Ehsan. 13 4 mainstream FocusM | April 2020 April 2020 | FocusM PB Supply chain disrupted, says Westports CEO He said the outbreak has demand shortfall of 1.7 million container volume handled and consultancy company focusing caused a domino effect as man- twenty-foot equivalent units a modest increase in the cost of on supply chain operations, said ufacturing facilities in Wuhan (TEUs). sales under the new accounting exports from China nearly came by city and the Hubei province in “Similar to the airlines which rules, Malaysian Financial Re- to a halt, resulting in ports not Sharina Ahmad central China failed to reopen have cancelled their flights and porting Standards 16 (MFRS 16), working, workers without jobs after the annual Chinese New reduced the number of flights to despite impairment made for a and containers piling up around he disruption in the Year closures. the countries that have a signif- vessel incident. the world. production of goods “We can see the supply chain icant number of Covid-19 cases, Westports achieved another “Importing ports saw the caused by the Covid-19 was disrupted in the first month shipments of goods around the consecutive record-breaking impact with a delay. Container outbreak has affected of the virus outbreak. Most of world have also been cut,” he container throughput level in handling and in-land transport shipping schedules, the containers were stuck there noted. 4QFY19, handling 2.82 million dropped dramatically. Shipping Tsending them into disarray. (China). At this point in time, Lee said, TEUs while the 12-month volume lines and other logistics players The pandemic has caused Westports is focusing on building increased by 14% to 10.86 million are revising their forecasts for supply chain disruptions in the Massive shortfall in China up a logistics centre and eyes TEUs from that achieved in FY18. 2020 downward, and are taking last three months, said port exports more partners from local and action to reduce costs to the services provider Westports “This created a massive short- international warehouses as well Containers lie idle point of letting people go. Holdings Bhd. fall in Chinese exports and, as logistics companies. Maritime commentator Nazery “Companies which are Its CEO Eddie Lee said its therefore, a drop in container Westports’ net profit for the Khalid told FocusM that China’s non-cash strong will be heavily duration is very much dependent demand,” said Lee at the compa- fourth quarter ended Dec 31, production, export and import hit. In the shipping industry, I on how long the coronavirus ny’s ground-breaking ceremony 2019 (4QFY19) fell to RM125.43 and overall economy have taken a expect mainly smaller compa- pandemic lasts. for Westports Logistics Centre mil from RM145.54 mil a year ago massive hit as Beijing undertakes nies in niche markets like local “Now it is already the third (warehousing facilities) on March despite posting a higher revenue of unprecedented measures to curb coaster companies and special- month of the virus (outbreak) 12. RM452.82 mil versus RM418.01 mil. the spread of Covid-19. ised chemical shippers will face and I believe that not only the Based on a report by However, the company’s “This has sent shockwaves to stormy waters,” Hendriks said. shipping industry has been SeaIntelligence Consulting full FY19 net profit rose 11% to supply chains across the world He noted that it is a very affected, but other industries too. - a company in Copenhagen, RM590.9 mil from RM533.47 mil in which have grown dependent on difficult and uncertain time, “If Covid-19 lasts until the Denmark which specialises in the previous year while revenue China for supplies of products, not only with the Covid-19 end of this year or continues the container shipping industry increased to RM1.78 bil from components and raw materials,” impact but also with the ongoing into next year, the impact will - the number of blank sailings RM1.61 bil. he said. US-China trade war and now the be more distressing,” he told announced by carriers came It attributed the improved Jeroen Hendriks of Artof oil price war which have sent FocusM.