Asian Insider, Feb 24: Mahathir’s shock resignation, China postpones parliament session, Trump in India

Hi,

In today's bulletin: Malaysian Prime Minister Mahathir Mohamad resigns stoking political turmoil, coronavirus forces China to postpone its annual parliamentary session for the first time in decades, Trump arrives in India and more.

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Malaysian Prime Minister Mahathir Mohamad tendered his resignation by letter to the King today afternoon following which the Pakatan Harapan (PH) coalition saw the departure of dozens of lawmakers, leaving it short of a majority in Parliament. Malaysia Bureau Chief Shannon Teoh reports that the PM also quit as chairman of his Parti Pribumi Bersatu Malaysia (PPBM), just two hours after submitting his resignation, reportedly in protest against PPBM president Muhyiddin Yassin's decision to abandon the PH coalition and work with opposition party Umno in a new government. This story is still developing. South-east Asia Editor Reme Ahmad explains the infighting in PH.

This was one decision China was hoping it wouldn't have to take. But with nearly 80,000 people infected and more than 2,500 dead, China decided today to postpone its annual parliament session for the first time since the Cultural Revolution. The annual National People's Congress meet approves bills, budgets and personnel moves.

Elsewhere, the number of cases in South Korea ballooned from 31 to 763, with seven deaths, in less than a week, as the government moved to raise the infectious diseases alert to its highest level. Over a hundred of the new cases were linked to a church in the south-eastern city of Daegu, after a 61-year-old woman known as "Patient 31" who attended services there tested positive, even though she has no travel history.

Meanwhile, coronavirus infection cases were raising alarm elsewhere as Afghanistan reported its first case. In Italy, Venice ended its carnival early and Milan's Fashion Week restricted public access while other events were cancelled as the two cities tried to contain the surge in new infections. And in Jerusalem, nearly 200 Israeli pupils were ordered to begin a two-week quarantine after they met South Korean tourists affiliated with the church. Some of the tourists contracted the coronavirus infection, in the days after the meeting.

Prime Minister Narendra Modi was at the airport to greet US President Donald Trump as Air Force One descended in the western city of Ahmedabad. President Trump's arrival marked the start of a two-day visit that is also expected to reset relations between the two democracies. Mr Trump is accompanied by Commerce Secretary Wilbur Ross, among others, But whether a trade deal will be agreed upon by both sides, is still not clear.

Thai officials have strongly refuted allegations that Prime Minister Chan-o-Cha aided the cover-up of Malaysia's 1MDB graft scandal by harbouring a fugitive financier. The allegations were made by the disbanded Future Forward Party, over the weekend. The latest controversy comes just ahead of a censure debate beginning in parliament against Thai PM Prayut.

India-born CEOS have been in the spotlight lately. Under CEO Ajay Banga, Mastercard has seen its share price soar from US$20 to US$340 now. While at DBS, CEO Piyush Gupta has more than trebled net profit, which was $2 billion when he was handed charge of South-east Asia's No. 1 lender. There's also Microsoft's Satya Nadella, who has taken the company's market capitalisation from US$302 billion when he took charge, to its current level of US$1.4 trillion, making it the most valuable company alongside Apple. There are other instances too. Associate Editor Ravi Velloor examines their secret sauce, in this exclusive report for ST.

SINGAPORE LIFTS FUKUSHIMA BAN - Supermarket shelves in Singapore are stocking food products from Fukushima, Japan once again after a nine-year ban was lifted last month. The ban followed the nuclear plant meltdown after the devastating tsunami and earthquake in the prefecture in 2011. But consumers here seem wary of picking up the produce still.

JAPAN EMPEROR TURNS 60 - Japan's Emperor Naruhito vowed to work with the public to overcome a range of challenges from climate change, child abuse, poverty and the better integration of minority groups as he turned 60 on Sunday (Feb 23). But concerns over the coronavirus outbreak led the traditional birthday public greeting, typically attended by tens of thousands of people, at the Imperial Palace to be scrapped.

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

- Shefali

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