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KUALA LUMPUR (Feb 28): The Malaysian government has allocated RM20 billion under a stimulus package to boost the sluggish economy by putting more cash into the hands of consumers and providing tax reliefs to sectors particularly hard hit by the COVID-19 outbreak.

KUALA LUMPUR (Feb 28): CGS-CIMB Research said the potential beneficiaries from the RM20 billion stimulus package announced on Feb 27 will be the consumer, construction and tourism-related sectors.

KUALA LUMPUR (Feb 28): Consulting firm Deloitte views the much-awaited stimulus package that was unveiled by interim Prime Minister Tun Dr Mahathir Mohamad yesterday as being a welcomed move for the tourism sector as well as for affected businesses and individuals.

KUALA LUMPUR (Feb 27): The Securities Commission Malaysia (SC) said it will be announcing more capital market-specific measures to complement the government’s effort to support the Malaysian economy, in addition to those announced in the economic stimulus package today.

KUALA LUMPUR (Feb 27): The Small and Medium Enterprises Association (Samenta) noted that the government’s economic stimulus package unveiled today has provided numerous relief to the tourism, hotels and transportation sectors, which are affected by the COVID-19 pandemic.

KUALA LUMPUR (Feb 27): Umno said today it has ordered its division chiefs to mobilise the party’s election machinery in preparation for a possible snap election.

KUALA LUMPUR (Feb 27): Parti Pribumi Bersatu Malaysia (Bersatu) supreme council member Redzuan Yusoff has stated that the party will "100%" back its president Tan Sri Muhyiddin Yassin (pictured) as prime minister.

KUALA LUMPUR (Feb 27): Bank Negara Malaysia said today that the RM3.

KUALA LUMPUR (Feb 27): The Malaysian Association of Hotels (MAH) says the RM20 billion economic stimulus package bodes well for the local hospitality industry as it addresses the association’s two main concerns directly — to ease cash flow and financial burden as well as to drive tourism.

PUTRAJAYA (Feb 27): Malaysia has the flexibility to further tap RM2 trillion worth of savings in the country to help counter the negative impact of the COVID-19 outbreak.