Business

Japanese automakers have created a task force with the government to combat COVID-19's economic challenges. The New Coronavirus Countermeasures Automobile Council will gather information, provide policy support, and ensure smooth component supply amid plant closures in China.

Indonesia's central bank reduces interest rates to 4.75% in response to potential economic disruption from coronavirus, addressing production shortages and tourism decline despite no confirmed cases. Bank governor Perry Warjiyo emphasizes ongoing assessment of the virus's economic implications.

A Japanese educational institution's former leaders, Yasunori and Junko Kagoike, were convicted of fraudulently obtaining government subsidies totaling over ¥176 million by falsely inflating school enrollment and support needs.

Malaysian authorities claim Jho Low was recently seen in Wuhan, the epicenter of the coronavirus pandemic. The fugitive businessman is wanted for his role in the massive 1MDB embezzlement, with police now monitoring international arrivals for his potential return.

A US federal judge dismissed Huawei's constitutional challenge to the National Defense Authorization Act, which prohibits federal agencies from purchasing Huawei and ZTE equipment. The court ruled that the government has the right to restrict these tech companies' sales to government offices.

Malaysian producers of disinfectants, hand sanitizers, and rubber gloves are overwhelmed by global requests triggered by the coronavirus pandemic. Manufacturers face critical shortages of key ingredients like ethanol and packaging materials, primarily imported from China, hindering their ability to meet surging international demand for hygiene products.

Philippine Airlines has appointed 85-year-old billionaire Lucio Tan as its new president, replacing his late son Lucio Tan Jr. The flag carrier has also increased its capital stock from P13 billion to P30 billion, a 130% rise aimed at enhancing competitiveness in the airline industry.

The World Wide Fund for Nature (WWF) urges Malaysian companies to reduce plastic packaging waste, highlighting that Malaysians consume 16.8 kg of plastic per person annually, contributing significantly to ocean pollution. The organization calls for immediate measures to eliminate single-use plastics and protect marine environments.

Apple has announced it will not meet its revenue forecasts for the March quarter, with production and sales significantly affected by the coronavirus pandemic. The company expects supply constraints for iPhones and other products, noting that despite some store reopenings in China, customer traffic remains low and the return to normal business conditions is slower than anticipated.

Thailand's National Broadcasting and Telecommunications Commission successfully concluded its 5G spectrum auction, generating over 100 billion baht. Advanced Info Service led with 23 licenses across 700MHz, 2600MHz, and 26GHz bands, followed by True Move H with 17 licenses. State-run operators CAT Telecom and TOT Plc also participated, winning six licenses combined.