Business

Spritzer Berhad, Malaysia's leading bottled water producer, aims to boost production capacity from 750 million to 900 million bottles annually. The company plans to install two new high-speed automated bottling lines in Shah Alam and Yong Peng to meet growing local and international consumer demand.

Singapore Airlines has grounded 185 of its 196 aircraft, including Airbus A380s and Boeing 787s, as global border controls and reduced travel demand severely impact the airline's operations during the coronavirus pandemic.

The Philippine government has ordered Business Process Outsourcing (BPO) companies to finalize their Work from Home arrangements by March 29 at 11:59 PM, extending the previous deadline of March 20. The memorandum allows BPO workers to transport equipment home and provides guidelines for export-oriented companies to support remote work.

Indonesia's Energy Ministry announced plans to increase crude oil imports amid dramatically falling global oil prices. The price drop, triggered by Saudi Arabia's production increase and pricing strategy, has pushed Brent crude futures to their lowest level since 2003, creating a favorable purchasing environment for the country.

Despite calls from the Association of Stockbroking Companies to suspend trading, Malaysian authorities will keep the stock exchange open during the coronavirus lockdown. Regulators argue that market closure could cause more harm than good, aiming to protect economic stability.

Economists predict a global recession as coronavirus impacts deepen, with 31 out of 41 experts polled by Reuters confirming severe economic disruption. JP Morgan's global economic research head Bruce Kasman states that nearly all world economies will contract between February and April.

Volkswagen confronts massive $34.69 billion penalty for the 2015 diesel emissions scandal, revealing significant financial impact and strategic pivot towards high-nickel battery technology. The revelations expose the company's ongoing challenges from regulatory investigations and legal settlements stemming from fraudulent emission testing devices.

Japanese retailer Uniqlo has reopened the majority of its stores in China, with just 30 out of 750 locations still closed. The company had previously shut down over 300 stores and factories due to the coronavirus outbreak, which significantly impacted its revenues in the Chinese market.

Lev Dermen, a California gas station owner, was found guilty on 10 felony counts for a massive fraud scheme involving government biodiesel incentives. Working with polygamist brothers Jacob and John Kingston, Dermen helped falsely claim production credits through their company Washakie Renewable Energy, resulting in a $500 million fraudulent claim.

As coronavirus spreads globally, Amazon experiences massive order increase. People under lockdown turn to the platform for groceries, essentials, and household items. To manage demand, Amazon temporarily suspends non-essential product deliveries, focusing on medical supplies and critical household staples.