News by THEEDGEMARKETS.COM

"The Agong would like to remind politicians to immediately stop any form of politicking which will disrupt the stability of the ruling government."

In a statement issued today, Thomas wrote that calling an emergency would have grave consequences, especially on the country’s economy. He pointed out that the rating agencies will immediately downgrade the country’s sovereign ratings. Consequently, the country’s borrowing costs will instantly go up, and this perhaps will result in difficulty in borrowing. 

The number is 1,228

News reports today, quoting sources, indicated that the King and Malay rulers' meeting tomorrow is scheduled at 2.30pm.

"Already, the mere rumour of an emergency has resulted in the stock market taking a deep dive,” Dr Mahathir wrote in his blog Chedet today.

Istana Negara said in a statement that the Yang di-Pertuan Agong has advised citizens of Malaysia to be calm and patient in facing the current situation in the country while waiting for the outcome from the King and Conference of Rulers’ discussion on the proposals.

Lim questioned the need to suspend Parliament in a proclamation of emergency to fight the third wave of the Covid-19 pandemic. 

"The suspension of Parliament does not mean there would not be a 2021 Budget (slated to be tabled on Nov 6). It would just mean that the budget would not need parliamentary approval," the source said, adding that the entity that assumes emergency power to run the government alone will decide on the budget.

In a statement, the bank said the employee is currently under quarantine and the affected office will be temporarily closed tomorrow.

Speculation has run rife since earlier today that a national emergency may be declared.