— Malaysian Prime Minister Muhyiddin Yassin has unveiled a new 15 billion ringgit ($3.7 billion) stimulus to bolster consumption, with the economy expected to reel from a second coronavirus lockdown and an emergency declaration. Muhyiddin obtained royal consent last week to declare a coronavirus emergency, slammed by critics as a desperate bid to cling to power amid defections from his ruling coalition. The emergency, expected to last until Aug. 1, doesn’t involve any curfew or military intervention but suspends Parliament, halts any election and gives Muhyiddin’s government absolute power, including in introducing new laws. It came at the same time as millions in Kuala Lumpur and several high-risk states were placed under a two-week lockdown to halt a surge in coronavirus cases. Muhyiddin on Monday acknowledged concerns over the emergency but repeated that it was only aimed at curbing the coronavirus. He said the economic impact from the lockdown will be manageable because more activities are being allowed this time. He said the stimulus will provide more funds to battle the pandemic and support livelihoods and businesses. A businessman has filed a lawsuit challenging the emergency declaration and the opposition plans to appeal to the king to rescind his support. Malaysia has recorded more than 158,000 coronavirus cases, including 601 deaths.



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