Abstract
Malaysian businesses are experiencing one of the most significant challenges to
remain fit to compete successfully in the market after Tun Dr Mahathir's new
government ruled the country beginning on May 22, 2018. Subsequently, one of the major challenges for Malaysians is the dwindling value of the Ringgit Malaysia (RM). The lowest level of the Malaysian currency decline observed in 2018 was 1USD, equivalent to MYR 4.1325. Nevertheless, Mahathir resigned on March 9, 2020, while his deputy, Tan Sri Muhyiddin Yassin, was appointed as the eighth Prime Minister of Malaysia by the King with a team of new ministers from multiple political parties. During the appointment of the new political team, the coronavirus disease (COVID19) pandemic began spreading and has seriously affected Malaysian and global economic growth. The new government announced the movement control order (MCO) from March 18 to 31 to cope and curb the spread of COVID-19 and extended the order for another two weeks. On August 21, UMNO vice-president Ismail Sabri Yaakob was sworn in as the ninth prime minister of Malaysia after Tan Sri Muhyiddin Yassin stepped down as the eighth prime minister, which marked the return of UMNO to power only three years after the party lost federal power for the first time since Malaysian independence. The three changes in ruling leaders have developed many
uncertainties in the national economy, specifically during the pandemic.
remain fit to compete successfully in the market after Tun Dr Mahathir's new
government ruled the country beginning on May 22, 2018. Subsequently, one of the major challenges for Malaysians is the dwindling value of the Ringgit Malaysia (RM). The lowest level of the Malaysian currency decline observed in 2018 was 1USD, equivalent to MYR 4.1325. Nevertheless, Mahathir resigned on March 9, 2020, while his deputy, Tan Sri Muhyiddin Yassin, was appointed as the eighth Prime Minister of Malaysia by the King with a team of new ministers from multiple political parties. During the appointment of the new political team, the coronavirus disease (COVID19) pandemic began spreading and has seriously affected Malaysian and global economic growth. The new government announced the movement control order (MCO) from March 18 to 31 to cope and curb the spread of COVID-19 and extended the order for another two weeks. On August 21, UMNO vice-president Ismail Sabri Yaakob was sworn in as the ninth prime minister of Malaysia after Tan Sri Muhyiddin Yassin stepped down as the eighth prime minister, which marked the return of UMNO to power only three years after the party lost federal power for the first time since Malaysian independence. The three changes in ruling leaders have developed many
uncertainties in the national economy, specifically during the pandemic.
| Original language | English |
|---|---|
| Pages (from-to) | 1-7 |
| Number of pages | 7 |
| Journal | International Journal of Entrepreneurship Case Study |
| Volume | 1 |
| Issue number | 1 |
| Publication status | Published - 6 Sept 2023 |
| Externally published | Yes |