Asian Insider, May 18: China agrees to Covid-19 probe, Msia’s king on political turmoil, Softbank’s record loss

Asian Insider brings you insights into a fast-changing region from our network of correspondents.

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In today's bulletin: Chinese President Xi Jinping agrees to a WHO-led Covid-19 probe after pandemic is in control, WHO's chief scientist says virus not synthesised in lab, Malaysia's King calls on MPs to prevent another political chaos, SoftBank suffers record loss, Asia's biggest drug bust, and more.

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CHINA AGREES TO WHO-LED PROBE AFTER PANDEMIC IS UNDER CONTROL

Chinese President Xi Jinping announced Beijing would support an international probe into the coronavirus pandemic, pledged US$2 billion (S$2.9 billion) over two years to aid the Covid-19 fight and declared that any vaccine developed in the country would be made a public good, in his address at the World Health Assembly, as Beijing faces growing anger on the issue.

Virtually addressing the key decision making body of the World Health Organisation (WHO), being attended by representatives of United Nations' 194 members, he said China supports a comprehensive review of the global response to the Covid-19 pandemic led by WHO, after the virus is brought under control.

China will also work with the United Nations to set up a global humanitarian response depot and hub in the country, ensure the operation of anti-epidemic supply chains and foster "green corridors" for fast-track transportation and customs clearance.

His address comes amid growing criticism by the United States, Europe and Australia over Beijing's handling of the pandemic, and its responsibilities.

Read also:

China faces angry world seeking coronavirus answers at key WHO meeting

Trump aide accuses China of using air travellers to 'seed' coronavirus

ST INTERVIEW: WHO CHIEF SCIENTIST SAYS VIRUS NOT SYNTHESISED IN A LAB

World Health Organisation's chief scientist Soumya Swaminathan has dismissed suggestions that the Covid-19 coronavirus was synthesised in a laboratory. This is a naturally occurring virus and markers in the genome would have given it away if it was artificially synthesised in the lab, she tells ST in an interview with US Bureau Chief Nirmal Ghosh.

Her response reiterates WHO's stance, and those of other scientists, on the issue weeks after the controversy first surfaced with US President Donald Trump and US Secretary of State Mike Pompeo suggesting that the virus was man-made and probably leaked from a lab.

She also called on China to collaborate to allow everyone to know more about the pandemic that has now left 4.4 million people infected with the virus and killed over 300,000.

Read also:

All countries remain at risk as long as coronavirus is circulating: WHO

WHO: Aim is to save lives and livelihoods in Covid-19 fight

MSIA'S KING TELLS MPs NOT TO CREATE ANOTHER POLITICAL CHAOS

Amid growing political restlessness in the country, Malaysia's King urged MPs to refrain from creating another political crisis, during his address to Parliament, which met for the first time today after Prime Minister Muhyiddin Yassin was sworn in.

Sultan Abdullah Ri'ayatuddin Ahmad Shah also shared that he had asked former premier Mahathir Mohamad not to resign but the latter's firmness on his decision made him appoint the new PM.

Malaysia's King usually keeps a low profile but has been in the limelight since the former premier's coalition collapsed in February.

Go deeper:

Malaysia Bureau Chief Shannon Teoh: Blow to Mahathir's camp as Muhyiddin's allies topple PH in Kedah &

United again, but Anwar still second fiddle to Malaysia's elder statesman Mahathir

SOFTBANK'S RECORD LOSS; JACK MA QUITS

Japan's SoftBank group, a prominent investor in start-ups such as Uber Technologies and WeWork has reported an annual 1.9 trillion yen (S$25.3 billion) operating loss at its Vision Fund, pushing the group to its largest-ever loss.

The fund's US$75 billion (S$107 billion) investment in 88 start-ups were worth US$69.6 billion at the end of March. The disastrous result left the broader group falling to a 1.4 trillion yen loss in the year ended March.

Alongside, SoftBank announced today that Jack Ma, the co-founder of Chinese e-commerce giant Alibaba, has resigned from its board. The reason for Ma's departure was not stated. But his departure from the company's board follows the exit late last year of Tadashi Yanai, the founder and president of Japanese clothing retailer Uniqlo.

ASIA'S BIGGEST-EVER DRUG BUST

Myanmar police made one of Asia's biggest drug bust in decades seizing a huge haul of liquid fentanyl, in a signal that Asia's drug syndicates have moved into the lucrative opioid market.

More than 3,700 litres of methylfentanyl was found in Shan state in north-east Myanmar during the operation. Nearly 200 million methamphetamine tablets, known as yaba, worth hundreds of millions of dollars were also found. The region has so far been spared an opioid crisis but the latest haul raises alarm bells.

IN OTHER NEWS

INDIA BRACES FOR TYPHOON: India began evacuating thousands of villagers and halted port operations ahead of a cyclone expected to hit its east coast this week, piling pressure on emergency services grappling with the coronavirus pandemic. The cyclone Amphan, expected to make landfall on Wednesday, comes as India eases the world's longest lockdown, imposed in April against the virus, which has infected more than 96,169 people and killed 3,029.

JAPAN SLIPS INTO RECESSION: Japan's economy slipped into recession for the first time in 4-1/2 years, GDP data showed today, putting the nation on course for its deepest postwar slump as the coronavirus crisis takes a heavy toll on businesses and consumers.

NEW ZEALAND PM SURGES IN POPULARITY: New Zealand Prime Minister Jacinda Ardern's success in containing coronavirus has driven an extraordinary popularity surge that has put the youthful leader on course for a landslide win in September's national election. Ardern's centre-left Labour Party was up 14 points at 56.5 per cent, a Newshub-Reid Research poll published on Monday (May 18) found, with her rating as preferred prime minister surging 20.8 points to 59.5 per cent.

That's it for today. Thanks for reading, stay safe and we'll be back with you tomorrow.

Shefali

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