Malaysia rubber glove body pleads for go-ahead to restart factories

Malaysians Rubber Gloves Manufacturers Association (MARGMA), citing supply shortage concerns, on Thursday said it had pleaded with the government to allow the sector to resume operations in Selangor, where a tighter lockdown had been imposed. President Supramaniam Shanmugam said the association had been inundated with expression of concerns from global buyers, including queries from embassies, hospitals and healthcare sectors. Malaysia supplies around 67% of total gloves consumed globally.

Reuters SG

EMERGING MARKETS-Malaysian ringgit at 10-month low, stocks tumble on political jitters

* S. Korea stocks, won battered by virus surge * Thai baht slides to over 1-yr low as tighter curbs proposed * BNM holds rates steady as expected By Anushka Trivedi July 8 (Reuters) - Malaysian shares slumped and the ringgit hit a more than ten-month low on Thursday after the biggest political party of the countrys ruling coalition called for Prime Minister Muhyiddin Yassin to resign at a time when the country remains in a COVID-19 lockdown. Bank Negara Malaysia met for a policy review against this backdrop, and held interest rates at 1.75% as widely expected, but cautioned that growth faces a hurdle from the restrictions that have been in place since June. Both have been trading lower since United Malays National Organisation (UMNO) said it would pull its support from the coalition after months of infighting, citing the governments failure to manage the pandemic effectively.

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