1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

50 years – It has been that many years since world-renowned rock band U2 formed after a notice was posted at the Mount Temple Comprehensive School in Dublin, Ireland in 1976. In celebration of their 50th anniversary, the band gathered to play a gig at the school where they met, treating students and teachers to a setlist with tracks spanning their entire career. U2, who were initially called Feedback, then The Hype, dedicated the performance to school counsellor Jack Heaslip, and paid tribute to the school, thanking their teachers for their support as the band found their footing. The band also has its 16th studio album coming up, set to be released in Nov, titled Carnaval de Luz. The album features 12 tracks, including Torn, a song co-written by Dolly Parton before her death in late Aug 2026.

Once they performed on the rooftop of a street shop:

RM1 – That is the special rental rate that has been granted to 53 existing tenants situated on land owned by the Railway Assets Corporation (RAC). Announced by Transport Minister Anthony Loke, the rate came into effect on Oct 1 and comes under RAC’s CSR initiative to support institutions vital to community well-being and societal development. The 53 tenants include 49 places of worship and four government-aided schools. The new arrangement has a tenancy period of three years, with options for renewal for two subsequent three-year terms. This means the tenants are effectively allowed up to nine years to rent at the same RM1 rate without the need for reapplication at each interval. However, the land remains reserve land, and can be reclaimed for government development projects, such as rail infrastructure expansion. Previously, tenants were on three-year contracts and had to reapply every time, with inconsistent rental charges in the past that had no clear standardised basis.

4.27 seconds – That is the new women’s world record for the 3x3 Rubik’s Cube average solve, and it was achieved by six-year-old Lian Yunzhi from Chengdu, China. Nicknamed “Zhizhi”, she is the first female speedcuber to average under 4.5 seconds. Lian was first introduced to the Rubik’s Cube after being enrolled into a class as a child, with her mother “gradually realising” that cubing was an “excellent activity for fostering a child’s comprehensive abilities”. Lian has gone on to win multiple trophies and has mastered over 1,300 Rubik’s Cube solving algorithms with daily practice sessions of two to three hours.

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3. IN MALAYSIA 🇲🇾

Melaka to choose its new state assembly members on Nov 14
The Election Commission (EC) has set Nov 14 as the day for almost 700,000 voters in Melaka to cast their ballots. The campaign period will run for 14 days after the nomination of candidates on Oct 31, with early voting set for Nov 10. The election will need an estimated allocation of RM28.45 mil, according to the EC. Melaka caretaker Chief Minister-cum-Barisan Nasional (BN) State Chairperson, Ab Rauf Yusoh, stated that BN intends to retain all 21 seats that it won in the 2021 state elections, and the coalition was open to discussing seat swaps with potential partners but would not compromise on the total number of seats it contests. BN’s partner at the federal level, Pakatan Harapan (PH), however, has decided to go solo and will not form any electoral pact. DAP would contest eight seats in the upcoming state election, leaving the remaining 20 seats to be negotiated between PKR and Amanah.

Budget 2027 is tabled today and Bersama unveiled its shadow budget yesterday
Bersama released its shadow budget, with key features such as reintroducing the goods and services tax (GST) capped at 5% for the next 10 years, which the party believed could add RM76.1 bil to the government’s coffers, or RM16.7 bil more than SST. Bersama also mooted the removal of the Budi Madani fuel subsidy, which will save their version of Putrajaya another RM34.2 bil.

It also proposed creating a new ministry, dubbed the Ministry of Social Security, to administer and govern a series of new social assistance programs, such as child allowance, fuel allowance, cost of living allowance, and the senior citizen social pension scheme, if Bersama came to power.

How realistic is Bersama’s shadow budget? Not up to us to judge, but a strong check and balance to the current government is always welcome, especially one that argues on solid economic and social propositions instead of just playing the racial and religious cards. Even if former PM Najib proposed GST first and everybody fought tooth and nail against it at one point not too long ago. Read more on Bersama’s shadow federal budget here.

All things Sarawak
After Melaka, Sarawak’s turn soon
Sarawak Tourism, Creative Industry and Performing Arts Minister Abdul Karim Rahman Hamzah said that the Sarawak state assembly could be dissolved in Nov or within two weeks after the 2027 Sarawak Budget is passed. If the current term runs until its expiry, polling would therefore have to be held by Feb next year, he added.

126 objections to Sarawak’s proposed electoral boundary changes
The Election Commission (EC) Secretary, Khairul Shahril Idrus, said that 126 out of 133 representations were against the proposed electoral boundary changes in Sarawak, which would see the creation of 17 new state constituencies in Sarawak and increase the total number of state seats from 82 to 99. Among the possible points of contention were unequal seat sizes (malapportionment). While the proposal narrows the gap between the largest and smallest seats from about 7:1 to 3:1, it still has serious problems, which are unequal voting power, oversized urban seats, and too little weight given to local community ties. Allegedly, both the ruling coalition, Gabungan Parti Sarawak (GPS) and the opposition, Pakatan Harapan (PH), rejected the current proposal.

Shorts:

1. Myanmar to pay for the repatriation of its own nationals
   PM Anwar Ibrahim announced that Myanmar is prepared to facilitate the repatriation of its nationals on a large scale, with the country ready to bear the associated costs. At the moment, more than 10,493 Myanmar nationals have been deported back to Myanmar via flights and naval ships, with another 3,000 - 4,000 Myanmar nationals currently at immigration depots who would be repatriated. Combined, both figures are equal to the population size of the town of Kuala Lipis, Pahang or the town of Kundang in Selangor.

2. RM345 mil generated from the Formula 1 weekend
   Entrepreneur Development and Cooperatives Minister Steven Sim announced that the Formula 1 (F1) Gulf Air Bahrain Grand Prix in Malaysia generated RM345 mil for local micro, small and medium enterprises (MSMEs) via increased tourism spending and demand for local products and services. He also added that spectators attending the event were projected to spend 2.17 times more than those attending regular events.

3. SQ Advanced Interconnect plans RM300 mil IPO in early 2027
   Malaysian semiconductor firm SQ Advanced Interconnect Bhd is considering raising about RM300 mil via an initial public offering (IPO) in Q1 2027. SQ Advanced Interconnect is seeking a valuation of up to RM1.5 bil, banking on its main base in Penang and a plant in China. Previously, Penang-based SkyeChip Bhd raised RM352 mil in the country’s third-biggest IPO of the year. Its share price jumped 151% on their first trading day in May and is now up about 230% since the IPO.

4. AROUND THE WORLD 🌎

AI love/hate in South Korea
China-based hacker used AI tools to attack South Korean banks
Cybersecurity firm CrowdStrike said in a report published Wednesday that the suspect behind the recent cyberattacks on South Korean banks could be a 26-year-old based in China's Guangdong province - but a real amateur hacker who left clues pointing to himself. The agency said that the suspect used ARTEX, a recently released Chinese-developed open-source penetration testing tool, alongside large language models such as Claude. The individual also asked Claude where threat actors typically sell Korean data breach information, and requested Claude to create a security researcher resume, which included details such as a Telegram account, age, educational background and a location in Maoming, which CrowdStrike said likely belonged to the attacker. Amateur with big dreams.

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Samsung delivers world’s largest tech quarterly profit
The world’s largest memory chipmaker, Samsung Electronics has estimated an operating profit of KRW107.4 tril (USD80.17 bil or RM328 bil) for the Jul-Sept period - a world first for a technology company. The estimate marks a nearly nine-fold jump in third-quarter earnings as booming demand for AI chips drove strong memory sales. The forecast shows Samsung's fourth straight quarter of record operating profit, underscoring a deepening global memory chip shortage as AI infrastructure investment outpaces supply growth, which has driven chip prices up sharply.

Another Sardinian village may be the new centenarian “blue zone”
A little village named Bolotana, located in the Margine area of central Sardinia, has emerged as a new potential candidate for the centenarian “blue zone”, as researchers discover that it is generating women centenarians every year.

A study by professors at Sardinia’s University of Sassari and the University of Alabama at Birmingham in the US, published in the scientific journal Frontiers in Ageing, found that 13.8% of women in the village who reach the age of 70 will live to 100 – placing it second in the world for female longevity after Hong Kong. The village is located around 110 km from the island’s original blue zone. The researchers analysed records of people born in Bolotana between 1900 and 1925 and found that 38 had lived beyond 100, putting their longevity rate at 57% higher than the Italian national average.

There could be a lot of reasons why centenarians could live to 100 or beyond. Furthermore, scientists do note a “very intense and very real social relationships” maintained throughout the women’s lives, with absolutely no sign of cognitive decline. The mayor of Bolotana theorised that it could be because of a clean, fresh diet and the “uncontaminated nature” surrounding the village, as well as their physical activities that usually involve a lot of walking daily.

Shorts:

1. China got hold of US’s F-35 jet parts due to a missed email
   China has reportedly managed to gain access to some of the US’s most sensitive military technology - the F-35 stealth fighter jet parts - through a shipping mishap that proved to be an embarrassment for the Pentagon and for Lockheed Martin. The shipment of the F-35 cockpit canopy and weapons-bay door coated in radar-absorbing material was originally meant to travel to San Francisco via South Korea and Taiwan. However, the shipment was late leaving Australia and was mistakenly routed via Hong Kong in an effort to speed up delivery. An investigation revealed that the United Parcel Service Inc. (UPS) employee had missed an email warning not to route the shipment through Hong Kong. Now, how would China know what exactly was shipped?

2. WHO has no ‘full picture’ of suspected plague death in Russia
   The World Health Organisation (WHO) said that it does not have the full picture from Russia regarding the death of Darya Shipilova, a laboratory worker in an anti-plague research institute in Irkutsk, Siberia, who was suspected as having died of the plague. The Russian authorities have denied a connection with the institute and said that Shipilova died from “pneumonia of an unknown aetiology”. They insist there is no danger of a plague outbreak and have described the “sanitary and epidemiological” situation in the region as stable. Nevertheless, according to the Baikal Medical Journal, health officials in Irkutsk have taken extensive measures to stop a potential outbreak from spreading.

3. No entertainment at Singapore Grand Prix if haze worsens
   The Formula 1’s governing body, Fédération Internationale de l'Automobile (FIA), has said that there might be some restrictions on outdoor activity such as entertainment during this weekend's Singapore Grand Prix, but not on the race. Singapore’s tourism board said it was monitoring pollution levels and would inform those within the circuit of the latest haze developments and make medical assistance and N95 masks accessible on-site if required.

5. FOR YOUR EYES 📺

1. MrBeast on Shark Tank. Cool toy product was pitched too for both kids and adults! Coming soon to the nearest Temu Walmart.

2. How to be a certified sky diver and the cost of doing so.

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3. Lady Gaga - ❌ Brand Ambassador ✅ Recruitment Ambassador. Family Mart Japan got Lady Gaga to attract more part-time workers. Full video here.

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Happy weekend! Stay safe, breathe well!

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

194th – That is Universiti Malaya’s (UM) new ranking in the Times Higher Education World University Rankings 2027. This marks the first time a Malaysian university has broken into the top 200 of the list. PM Anwar congratulated the university, saying that the ranking is a reflection of UM’s excellence in teaching and research. He added that the achievement also instilled confidence that local higher education institutions were capable of competing with leading universities worldwide. UM recorded an overall score of 59.5 points, with the next Malaysian university being Universiti Teknologi Petronas, which ranked 242nd with a score of 57.3 points. Full list can be viewed here.

160,886 – Proton sold that many units as of Sept 2026, beating its total sales volume of 157,976 units from 2025 in just nine months. Not only is this the earliest that sales have exceeded the 150,000-unit barrier since 2002, it also marks the highest volume achieved by Proton since its partnership with China’s Geely began in 2017. According to Proton deputy CEO Abdul Rashid Musa, this year also saw the company’s best third-quarter performance since 2009, with 60,540 units sold in the quarter. He shared that there are at least two more launches to come before the end of the year, with the export business targeting further growth in sales in overseas markets. Notably, 40,000 Proton e.Mas electrified vehicle (xEV) units have been delivered since sales began 20 months ago, with e.Mas models now accounting for 19.3% of Proton’s overall sales. This brings the group close to the government’s 2030 target for xEVs to account for 20% of industry sales.

48% – Sirim Bhd’s testing, certification, calibration, and training services rose 48% in a year, compared to a growth of 7% the previous year. This saw Sirim serving 28,700 customers during the year, while its training programmes reached nearly 25,000 industry personnel, including more than 23,000 Bumiputera entrepreneurs and workers. The higher demand resulted in Sirim’s order book more than doubling to RM28 mil from RM12.1 mil, with the firm stating that customer satisfaction remained above 90%. Sirim President and Group CEO Nik Sazali Nik Hussin said the increased demand reflected a growing need among Malaysian companies to demonstrate compliance with standards required to access domestic and international markets. Sirim is also automating and digitalising its services to shorten waiting times for companies, as a product that clears testing sooner will be able to launch, scale, and export sooner, he added. In 2026, Sirim was entrusted with RM474.39 mil in development funding across national programmes, including RM300 mil under the New Industrial Master Plan 2030 Industrial Development Fund.

3. IN MALAYSIA 🇲🇾

Haze shuts schools as Singapore F1 nears
Worsening haze from wildfires in Indonesia has forced temporary school closures in Johor and pushed air quality across parts of Malaysia and Singapore into unhealthy levels. Around 200 schools, kindergartens and nurseries in Batu Pahat were ordered to close on Oct 7, while Kuala Lumpur recorded very unhealthy air and was ranked the world’s most polluted city that morning, according to IQAir. The haze is also raising concerns ahead of Singapore’s Formula One weekend. Air quality in three of Singapore’s five regions was unhealthy, although F1 said conditions were not yet at a level of concern. Singapore GP said it would work with the relevant agencies if the haze begins affecting visibility, public health or race operations.

The latest haze comes amid one of Indonesia’s worst wildfire seasons in years, worsened by dry conditions linked to El Niño. Hotspot numbers last month were the highest since 2015. Malaysia has already seen some disruption, with organisers of the Kuala Lumpur Standard Chartered Marathon cancelling its children’s race last week over health concerns while allowing the main events to continue.

Two more days of school shutdown in Johor
All schools in Johor will close for two days starting today (Thursday, Oct 8) due to the air quality. State Education and Information Committee Chairman Dr Muhammad Naqib Md Ghazali said the decision was made as a precautionary measure to safeguard the safety and health of students. He said during the closure, home-based teaching and learning (PdPR) would be implemented to ensure learning could continue. At this point, everywhere starts to look like Genting.

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Home confinement ≠ house arrest
Home confinement granted through a royal pardon is not the same as house arrest under a specific law, Home Minister Saifuddin Nasution has clarified. In a written parliamentary reply, he said home confinement comes under the King’s constitutional power to grant pardons. Conditions covering movement, supervision and visitors are therefore set by the pardoning authority and implemented through separate standard operating procedures. The distinction applies to former Prime Minister Najib Razak, who was granted a conditional pardon last month, allowing him to serve the remainder of his SRC International sentence under home confinement until Aug 2028. However, the arrangement only takes effect after he pays the RM50 mil fine imposed on him. Najib has not yet settled the amount. Seeing a lot of contorting going on.

Malaysia does not yet have a general house arrest framework in force. Saifuddin said the government is still finalising the legislation, with the Attorney General’s Chambers reviewing the proposed legal framework. The plan would allow certain remand detainees to be considered for house arrest instead of being held in prison while awaiting trial.

Details such as CCTV monitoring, electronic ankle tags, visitor restrictions and other supervision requirements have not yet been finalised. Home confinement through a royal conditional pardon and statutory house arrest therefore remain two separate arrangements. We are all equal, but some are more equal than us all.

Five Malaysian women make Fortune power list
Five Malaysian business leaders have made Fortune’s Most Powerful Women Asia 2026 list, up from four last year. UOB Malaysia CEO Ng Wei Wei is the highest-ranked Malaysian at No. 85, moving up 10 places from 2025. She is joined by Berjaya Corp CEO Nerine Tan Sheik Ping at No. 91, Sunway Group Executive Deputy Chair Sarena Cheah at No. 92, Affin Bank Group CFO Joanne Rodrigues at No. 99 and Public Bank CFO Yik Sook Ling at No. 100. Tan, Cheah and Yik are new entrants this year. Kuok Hui Kwong, Chairman and Group CEO of Shangri-La Group, also appears on the wider list at No. 34. She became CEO in Aug 2025 after previously leading SCMP Group.

Fortune’s annual ranking features 100 women from across Asia and considers leadership, business performance, influence, innovation and wider impact. Mainland China had 18 honourees, followed by Hong Kong with 16 and Singapore with 12. Technology was the most represented sector with 16 executives, followed by banking with 14. View the list here.

The worst is over for glovemakers, maybe
Profit rebounds as demand recovers
Top Glove is heading into FY2027 with a stronger outlook after its FY2026 net profit nearly tripled to RM308 mil from about RM105 mil a year earlier. Revenue also rose 21% to RM4.23 bil, helped by a 28% increase in sales volume. The group expects FY2027 sales and profit growth to track global glove demand, which is growing at around 10%. Executive Chairman Dr Lim Wee Chai said the glove market is becoming more balanced, with supply still slightly ahead of demand but the gap much smaller than it was two or three years ago. Fewer new plants are coming onstream, while manufacturers are operating below full capacity. Top Glove expects the more balanced market to support a steadier recovery after the sharp swings seen during and after the Covid-19 pandemic.

Higher costs bring price increases
The stronger outlook comes with higher costs. A 30% increase in natural gas tariffs is expected to lift production costs by around USD0.50 to USD0.70 (RM2.04 to RM2.86) per 1,000 gloves, while higher crude oil prices are also pushing up raw material costs. To offset this, Top Glove has raised average selling prices by up to USD4 per 1,000 gloves for Oct and Nov.

The group said orders remain strong despite the price increases. It is also relying on energy-saving measures, automation and artificial intelligence to keep costs under control. Top Glove said energy use per 1,000 gloves has fallen by around 30% to 35% compared with 2019 levels. Competition from Chinese manufacturers remains, although the pricing gap between Malaysian and Chinese glove makers has narrowed considerably in recent years.

4. AROUND THE WORLD 🌎

Bid for the 2036 Olympics is heating up with Qatar and India
Qatar and India have joined the bid to host the 2036 Summer Olympics. There are now seven countries that have expressed interest: South Africa, Germany, Hungary, Turkiye, South Korea, Qatar and India. Other countries have until Oct 31 to declare an interest. Qatar hosted the 2022 football World Cup and the 2006 Asian Games, which Qatar will host again in 2030. Meanwhile, India intends to propose Ahmedabad, the key city of Prime Minister Narendra Modi’s home state of Gujarat, to host the Olympics. The city will also play host to the upcoming Commonwealth Games.

For the next steps, the International Olympic Committee (IOC) will draw up a shortlist of the interested parties and talk to them. However, the IOC has a big problem on its hands. Costs for the Olympics have tended to overrun. And that has gotten worse since 2008, according to a study from the University of Oxford. For example, the Paris 2024 Olympics cost overrun was 115%.

2028 Summer Olympics will be in Los Angeles, US, and 2032 will be in Brisbane, Australia.

Trump buying three California immigration detention facilities for USD950 mil
This anti-immigration policy is becoming more expensive. The Trump administration has agreed to pay USD950 mil (RM3.8 bil) to buy three California immigration detention facilities from GEO Group to give the federal government more direct control over the infrastructure behind its mass deportation campaign. The facilities have about 2,600 beds.

As of mid-Jul, the government has deported roughly 600,000 people, with ICE arresting more than 650,000 people. The administration is now planning to buy more of these facilities to hold immigrants awaiting deportation or the outcomes of court proceedings, and it also relies on private contractors like GEO Group and CoreCivic. Both private players said that they are planning to sell more properties to the government.

Where prison-ing is a business
GEO Group and CoreCivic are listed on the New York Stock Exchange. GEO Group has a market capitalisation of USD4.1 bil, and it provides services for government partners that include correctional and community re-entry services. CoreCivic has a market capitalisation of USD3.2 bil and develops and manages prisons and other correctional facilities.

Earlier in the year, ICE paid about USD1.5 bil for two detention facilities near San Diego that were owned by CoreCivic. However, there are some checks and balances. Government Accountability Office (GAO), the investigative arm of Congress, found that ICE has been moving ahead in buying without developing a comprehensive plan for how many beds it needs, where they should be located, or how the costs of different approaches compare over time. It said in a report that this could result in waste.

Conditions in these detention centres are allegedly bad, according to civil rights groups and former detainees. Here is one report by The New York Times:

Eight Singaporean civil servants referred to police over property purchases
Is it insider dealing? That’s a question that Singaporean authorities are asking as they refer eight Singaporean civil servants to the police over the suspected use of non-public information to buy properties near planned railway stations. Apparently, a research paper by a United States-based think tank, the National Bureau of Economic Research, found that civil servants were 60% more likely to buy homes near future Mass Rapid Transit (MRT) stations. However, the government said that a referral does not mean wrongdoing. The police will work to establish the facts first and follow due process. Singapore prides itself on its squeaky-clean image, with Transparency International ranking the island nation third in its annual Corruption Perceptions Index last year.

Shorts:

1. Thai government shuts down elderly care centre on abuse allegations and violations
   It sounds like a horror movie. Residents chained behind steel bars if they ‘behave uncontrollably’ and live in inhumane conditions. The difference is that this was in a care centre, not a prison. The Public Health Ministry investigated the Sothornchai Nursing Home in Tha Muang district, Thailand, on reports that its residents were being physically and mentally abused. Then, the authorities inspected the premises and revoked the centre's license. The centre had more than 100 residents, most aged between 18 and 59, with more than 90% found to be psychiatric patients. It violated two main laws for having 129 beds when it was only licensed to have 50, and for providing care to psychiatric patients despite being licensed only as a health facility. It also cited the use of restraints as a serious matter, with steel cages regarded as an unacceptable standard of psychiatric care.
   The owner of the Sothornchai Nursing Home, former nurse Ying “Maew” Pornsermsiri, would face legal action. Heartbreaking to watch the video.

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2. Fort Hood shooter to be executed by firing squad
   Donald Trump has approved the death by firing squad of Nidal Malik Hassan. Nidal was a former Army officer who carried out a mass shooting at Fort Hood, an Army base in Texas, in 2009. He was a psychiatrist who walked into an Army processing centre and opened fire on fellow staff members. 13 people were killed while 32 others were wounded. He was convicted of the charges and said that he was trying to stop deployments to Afghanistan and the killing of fellow Muslims. However, the legal proceedings took a long time, as the US Army is averse to capital punishment. After 16 years of court, Trump gave approval to prepare for the execution. For context, the last military execution took place in 1961, when former soldier John Bennett was hanged for the rape of an 11-year-old girl.

5. FOR YOUR EYES 📺

Being a Woman is Not Easy

1. Safety comes first - not being nice.

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2. “Girls shouldn’t have to carry the burden of staying safe” - @yiquan.uk. What to teach the boys. First, don’t outsource the blame to the ladies on what they are wearing.

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3. Sexual violence is not an on-off thing, and does not happen in isolation. It’s cultivated. A model to describe how small jokes turn into rape - the Pyramid of Sexual Violence (often called the Rape Culture Pyramid).

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4. ‘If don’t like, don’t want sexual advances, why no fight back? Why no scream, no fight, no resist?’. Logic doesn’t function when under threat. An interesting way to describe this shown in the video. Fight or flight is not only the body’s automatic reaction to fear - add freeze, flop and friend to the list. Learn more here.

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A bit heavy today in this section. Stay safe ladies. Took a while to understand why it isn’t easy for women to relax, when it comes to their safety and surroundings.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

USD235 bil (RM960.19 bil) – That’s the total value of Nvidia’s approved share buyback following the USD150 bil increase in its existing share buyback authorisation, making Nvidia the new record holder of the largest-ever buyback, dethroning Apple, which held the previous record of USD110 bil, authorised in 2024. Nvidia CEO Jensen Huang shared that the company was “generating a lot of cash” and that this will continue in the coming years. As of Jul 26, the company had a total of USD99 bil in cash and other liquid investments such as stocks and bonds, up from about USD63 bil six months prior. With regard to the share buyback plan, Nvidia expects to complete the exercise by 2028.

184 – That is the number of Indian men who are currently on the boards of Fortune 500 and S&P 500 companies, a number that has tripled since 2018, outpacing increases for women, Black, and Hispanic directors, according to data from James Drury Partners. This surge, which was capped by a record 16 Indian men joining S&P 500 boards in 2026, follows companies putting increased emphasis on directors with chief executive or operating experience — credentials that many Indian business leaders have accumulated after decades in the US. These men have taken up directorships in companies such as Walmart, Southwest Airlines, and Western Digital, with Indian men now leading about a dozen blue-chip companies, including Alphabet, Microsoft, and Procter & Gamble.

7 – Football club Manchester United recently reported that many consecutive annual losses after taxes, with the latest financial year resulting in a reported loss of GBP43 mil (RM232.2 mil). This comes despite the club reporting a record-breaking revenue of GBP677.6 mil, up 1.7% from the previous year. Co-owner Jim Ratcliffe has been making cuts to operating costs to offset contractual payments to sacked manager Ruben Amorim and a big increase in loan repayments. The club’s accounts showed they paid GBP8.2 mil in exceptional items, mostly related to the departure of Amorim. Manchester United also paid GBP63.5 mil to acquire land adjacent to stadium site Old Trafford, where they plan to build a new 100,000-capacity arena.

3. IN MALAYSIA 🇲🇾

About banks
CIMB weighs sale of Philippines business
CIMB Group is reportedly exploring a sale of its Philippines business as the Malaysian banking group looks to focus its resources on larger markets with stronger growth potential. According to people familiar with the matter, CIMB has approached potential buyers, with the business potentially valued at up to USD200 mil (RM817 mil). However, discussions are still ongoing and CIMB could ultimately decide not to go ahead with the sale. The bank entered the Philippines in 2018 and had grown its customer base there to 10 mil by Sept 2025. The possible exit also comes as CIMB shifts capital away from businesses that are not performing as strongly, having already announced the sale of its automotive financing portfolio in Thailand earlier this year. CIMB continues to have a presence across several regional markets, including Indonesia, Singapore, Thailand, Cambodia and Vietnam.

Banks to introduce fraud alerts before transactions
Malaysian banks are working on a new fraud alert system that could warn customers about suspicious transactions before they send their money. BNM governor said selected banks are expected to test the feature in the first half of 2027 before it is rolled out more widely. The alerts are meant to give customers a chance to stop, check and verify a transaction when potential fraud risks are detected.

The move comes as scams remain a major problem, with Malaysia’s financial sector already blocking around RM1.9 bil in attempted fraudulent transactions this year, compared with RM1.2 bil for the whole of 2025. PayNet has also flagged more than 1,600 suspicious accounts, many of which were later assessed as posing potential mule-account risks. While the extra warnings could make some transactions slightly less seamless, BNM said the added step is needed to better protect customers, particularly from scams where victims are tricked into authorising the payments themselves.

Healthcare
Doctor no-shows highlight Sabah’s infrastructure gaps
The failure of some newly posted doctors to report for duty in Sabah and Sarawak has renewed attention on the challenges of working in East Malaysia. Sabah STAR president Dr Jeffrey Kitingan said the issue goes beyond a shortage of doctors, pointing to unreliable water and electricity, limited internet access, inadequate housing, high travel costs and the difficulty of relocating families as factors that can make rural postings less attractive.

He called for better infrastructure and stronger support for frontline workers, warning that doctor shortages could mean longer waiting times for patients and more pressure on existing staff. The issue has also put the spotlight on Budget 2027, with Sabah leaders calling for better healthcare facilities, accommodation and incentives to attract and retain doctors in the state.

Health Ministry looks into impact of long-distance doctor postings
The Health Ministry is looking at whether long-distance postings are taking a toll on the families of medical officers, including whether prolonged separation from spouses and children could be contributing to family breakdowns. Health Minister Dr Dzulkefly Ahmad said the ministry currently does not have specific data on the issue and is considering a baseline study to better understand its impact.

Around 74% of posting applications have been accommodated so far, while others could not be fulfilled mainly due to a lack of vacancies. He also addressed workplace bullying, saying 730 complaints have been received since Oct 2022, although only four were found to involve bullying and action was taken. He added that whistleblowers who report such cases will be protected.

A day in the life of a doctor in rural Sabah:

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‘Primetime’ banned from Malaysian cinemas
Malaysian moviegoers will no longer get to see Primetime in cinemas after the Film Censorship Board banned the psychological thriller from a local release. The film, starring Robert Pattinson, was initially scheduled to open on Oct 1 before being postponed to Oct 8 and eventually pulled altogether. Distributor Antenna Entertainment and cinema chain GSC have confirmed the cancellation, although neither they nor the censorship board have explained the reason behind the ban. The film follows a television host and his team as they use hidden cameras and decoys to confront men suspected of seeking sexual encounters with minors and is inspired by Chris Hansen and his controversial reality series To Catch a Predator. The film premiered at the Venice Film Festival before getting a wider US cinema release on Sept 25, and currently holds an 86% critics’ score on Rotten Tomatoes. Trying to think hard what wrong ideas the board thinks this movie will inspire here.

Why do some Malays still back Umno despite corruption scandals?
An opinion piece has offered a theory on why Umno and former Prime Minister Najib Razak continue to receive support from some Malay voters despite corruption controversies. Academic Tajuddin Rasdi spells out the 5 factors that could be at play, including how directly people feel the impact of taxes and public debt, the large Malay presence in the civil service, political patronage and a lack of understanding about how corruption affects public spending. He also points to religious and political messaging, arguing that corruption may sometimes receive less attention than other moral issues, while longstanding fears of DAP have encouraged some voters to continue backing Malay-based parties. Tajuddin argues that these factors can make the financial consequences of corruption feel distant from everyday life. However, the piece is the writer’s personal theory rather than research finding, and FMT states that his views do not necessarily represent the publication. Read the piece, worth it.

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4. AROUND THE WORLD 🌎

Outrage in Japan after US Marine arrested in Okinawa woman killing
About 100 people have participated in a rally in Okinawa, Japan, as news spread that a US Marine had allegedly killed a 39-year-old Okinawan woman, Anna Yagi, at a hotel in the city and stolen her wallet. The murder is the latest in a string of crimes involving US personnel on Okinawa - something that is not uncommon in the island prefecture and has constantly triggered Okinawa protests.

But what are these US military personnel doing in Okinawa?

About 54,000 US military personnel, including 18,000 Marines, are stationed in Japan, with the majority of these forces based in Okinawa. The island came under US administrative control at the end of World War II and was returned to Japan in 1972. Okinawa hosts about 70% of US military facilities in the country, established under a bilateral security treaty and the 1951 Status of Forces Agreement (SOFA). Tokyo and Washington view Okinawa as key in deterring potential military aggression from China. Interestingly, it is also only about 100 km away from Taiwan. Explains why they are still around after WWII.

There is a long history of crimes, including rapes, assaults, hit-and-run and drunk-driving accidents allegedly committed by US personnel in Okinawa. According to the Yomiuri Shimbun newspaper, about 6,000 US military personnel have been arrested since 1972. In 2024, the number of arrests hit 80, the highest in 20 years. Such a high price to pay for “national security”.

Historical fact: Okinawa was actually an independent trading nation called the Ryukyu Kingdom before Japan annexed it in 1879.

In Europe
Spain’s Pedro Sanchez calls snap elections in Nov
Spain’s PM Pedro Sanchez has announced a snap general election that would take place on Nov 29, after Parliament rejected housing relief measures proposed by his minority government. However, the election is quite a risky move for Sanchez — opinion polls suggest that a coalition led by the conservative People’s Party (PP), with support from the far-right Vox party, is the most likely outcome in the election. If Sanchez loses the election, it will also mark the end of one of Europe’s last left-leaning governments as the far right continues to gain ground across the continent.
Learn: What is a snap election?

Poorly conditioned schools led to violent teenage protests in France
France has been shaken by a wave of demonstrations by teenage students at high schools, or lycées, since late Sept. The protests have erupted into clashes with police, with more than 200 students injured in the violence. Their demands: better classroom conditions. Students were seen blocking the entrances to hundreds of schools around the country, complaining of teacher absences, overloaded timetables, dilapidated classrooms and buildings ill-adapted to rising temperatures, among other grievances. While the demands sound fair, such violent protests have led to 24 damaged schools. A teenager has lost his hand after picking up a grenade fired by the riot police, and another teenager lost one eye after suffering serious head injuries.

Shorts:

1. Kenya confirms first Ebola death
   A Kenyan citizen who has been living in the Democratic Republic of the Congo for the past seven years has died of Ebola, marking Kenya’s first-ever case of the deadly virus. The WHO has recorded 4,082 deaths out of 8,463 cases in the current outbreak, making it the largest ever recorded in DR Congo, where Ebola was first discovered. The current outbreak in DR Congo has been caused by the Bundibugyo species of Ebola, which is relatively rare, with no approved vaccine or treatment. The deceased Kenyan national had tested positive for the Bundibugyo species.

2. 7-Eleven exits India
   7-Eleven - the global chain of convenience stores best known for quick grab-and-go snacks - has closed all of its convenience stores in India in Sept, after five years of operation in the country. The brand launched its first Indian outlet in Mumbai in Oct 2021, eventually expanding to a peak of around 60 locations. Although there was no official word as to why the closure happened, the Nikkei and Yomiuri dailies - Japan’s national daily newspapers - reported that the company had struggled against severe competition from local Indian retailers.

3. Cats are friends, not food
   12 men have been arrested in Vietnam after allegedly confessing to stealing and selling around 2,700 cats meant to be slaughtered for food. According to the animal protection organisation Humane World for Animals, an estimated 5 mil dogs and 1 mil cats are captured, stolen, trafficked and slaughtered for meat in Vietnam every year. While it is legal to consume dog and cat meat in Vietnam, vendors require a permit that shows the origin of the animals. However, campaigners say that attitude towards consuming the meat is shifting in Vietnam — a 2023 survey commissioned by Humane World for Animals found growing public opposition, particularly among younger people and pet owners, with 71% backing a ban on the consumption and trade of cat meat.

5. FOR YOUR EYES 📺

Learn, understand, help
We live in our own bubble. Let’s learn to be less ignorant, be kinder.

1. TIL: A baby hatch is a secure, anonymous facility where parents (typically mothers) can safely surrender a newborn baby they are unable to care for, instead of abandoning them in unsafe environment. No baby dumping. Great initiative by OrphanCare Foundation. 765 babies saved since 2008. More about them here.

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2. Understand the colours to understand how to help.

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3. Someone looks and acts normal, then swears or makes sudden movements. It’s not their choice to behave in that manner. Nor are they possessed. This is Tourette’s syndrome, a neurological disorder that causes sudden, involuntary physical movements and sounds known as tics. Meet Chew, telling the story of his life living with Tourette’s - follow his journey here. Thanks for creating the awareness.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

SGD1 (RM3.19) - The deal to acquire Shenton 101, which owns Singapore's Shenton House, will cost local property developer IOI Properties Group Bhd that much. The deal was with Shenton 101's sole Shareholder and Director, Lee Yeow Seng, who is also a major Shareholder and Group CEO of IOI Properties Group. Of course, there is more to the deal than just SGD1. IOI Properties will also be settling SGD217.06 mil worth of shareholder advances that Lee injected into Shenton 101 to acquire Shenton House. The property firm will also consolidate Shenton 101's SGD376.23 mil borrowings into its accounts upon completion of the deal. IOI Properties will be paying for the acquisition through internal funds.

RM61 bil - That is the value of Gamuda Bhd's construction order book, marking a record high for the company. This comes as the construction firm closed its financial year ended Jul 31, 2026, with a net profit topping RM1 bil for the second straight year. Gamuda reported a full-year net profit of RM1.05 bil, up 5% from RM1 bil a year earlier. A revenue of RM18.3 bil was also reported, a 15% increase from RM16 bil a year earlier. Gamuda attributed the growth in revenue and net profit to stronger contributions from domestic construction projects and high-margin quick-turnaround property projects in Vietnam.

RM8.85 bil - The Malaysia My Second Home (MM2H) programme generated that amount in economic value between Oct 1, 2024, and Aug 31. Of that amount, more than RM5 bil was in property purchases and RM3.82 bil in fixed deposits. According to Deputy Tourism, Arts and Culture Minister Chiew Choon Man, the MM2H programme received 7,650 applications in the same period, spread across the Platinum, Gold, Silver, and Special Economic Zone categories (learn more here). China led the applications with 3,847, followed by Taiwan with 1,054, and Hong Kong with 324. Moving forward, the programme will be expanding its reach to key target markets such as Hong Kong, Japan, and South Korea by organising overseas sales missions to these regions.

Now that’s a huge jump in application fee from Gold to Platinum.

Source: MM2H

3. IN MALAYSIA 🇲🇾

Zetrix failed to remit RM314 mil, JPJ also reducing reliance on MyEG and third-party agents
JPJ has suspended Zetrix AI and MyEG as collection agents after Zetrix failed to remit RM314 mil collected between May and Sept. This is more specific than the amount reported a day earlier, when the Transport Ministry said Zetrix owed Putrajaya more than RM200 mil accumulated since its three-year contract began in May 2023.

Transport Minister Anthony Loke said JPJ held four engagement sessions and issued 35 reminders, but the arrears remained unpaid. Zetrix issued a RM231 mil cheque in Sept, but the payment was not processed after the company told the bank not to proceed. Wah...more shenanigans here. The government is currently considering further action, including possible civil proceedings.

JPJ is also reducing its reliance on third-party collection agents. Around 20% of users still use agents such as MyEG, while more are being encouraged to deal directly with JPJ through MyJPJ. The app is expected to gain more features next month.

Warning - your blood pressure will increase in the coming few posts

eJamin ran five years without a contract
The Public Accounts Committee (PAC) found that eJamin, the online bail payment system operated by Pertama Digital Bhd through Dapat Vista Sdn Bhd, ran for five years without a formal government contract - no letter of appointment, letter of acceptance, letter of intent, or formal contract value. Apa pun takda. It was used at 192 courts, but bail money was paid into Dapat Vista’s commercial bank account instead of a government trust account. By the end of 2024, eJamin held RM193.71 mil in bail funds. PAC found that RM130.8 mil had been invested in instruments including sukuk without government approval, while RM62.3 mil remained in bank accounts. Dapat Vista earned about RM4 mil to RM5 mil in interest from the investments. PAC also flagged a RM557,258 discrepancy between eJamin records and Dapat Vista’s bank statements, along with the lack of a trustee structure, insurance and other safeguards. 20% of Dapat Vista is owned by HeiTech Padu Bhd, which is related to - Zetrix AI via a substantial common shareholder.

How the f did this go unnoticed for 5 years. The only bright side from this is the funds are still there, somewhat, and not converted into Hermes and Rolexes.

AG findings:
The debt and guarantees of the Federal Government
Federal debt and statutory guarantees both grew in 2025, but they represent very ‘different’ growth. Federal debt rose 5.9% to RM1.32 tril, while debt service charges increased 6.4% to RM53.71 bil. Even so, the fiscal deficit narrowed to 3.7% of GDP from 4.1% in 2024, and new borrowings fell 8.2% to RM185.577 bil. Statutory guarantees increased 9.8% to RM1.92 tril. Of this, RM1.57 tril covered contributors’ and depositors’ funds at bodies including EPF, Tabung Haji, Bank Simpanan Nasional and SSPN-i, while RM352.86 bil covered guaranteed loans.

Federal debt vs statutory guarantees - the difference
For context, federal debt is money the government has already borrowed and must repay. Statutory guarantees, on the other hand, only become government liabilities if the institutions or entities being guaranteed cannot meet their own obligations. Hence, it’s aka contingent liabilities.

Clean accounts, weak collections
The Auditor General (AG) gave the federal government’s 2025 financial statements an unmodified audit opinion, meaning the accounts were fairly presented. However, it also found weaknesses in how money owed to the government was being collected. Outstanding contractor advances stood at RM68.81 mil across 24 projects, with RM59.63 mil overdue for more than 10 years. Utility relocation costs worth RM90.50 mil also remained unpaid, including RM84.05 mil outstanding for more than 12 months. In addition, only 5% of RM9.273 bil in federal loan arrears was collected in 2025. The government also wrote off RM578.32 mil, comprising RM127.33 mil in principal and RM450.99 mil in interest and late-payment interest. The Auditor General called for stronger monitoring, enforcement and risk assessments.

LCS project slips behind schedule again
Malaysia’s version of financial Titanic perhaps, but we might be too kind with the comparison as not even a single ship was ever produced. The littoral combat ship (LCS) project was 7.55% behind schedule as of June 25, 2026, with all five vessels delayed by 30 to 108 days. LCS 1 was originally due for handover on Aug 26, with a revised target of Dec 26. Even if that date is met, the vessel could be handed over before reaching full operational capability because crew training and weapons systems would still be incomplete. One unresolved issue involves the Naval Strike Missile Launcher System after Norway permanently cancelled its export permit for the system. The five-ship project is now valued at RM11.23 bil, with RM8.56 bil already paid. The project was awarded on Dec 2011. As at 2022, the government paid RM6.08 bil or 66.6% of the contract’s RM9.13 bil value to get nothing.
Read: Many questions crop up in LCS saga (The Edge, Sep 2022)

Subsidy bill falls as welfare aid jumps
Federal subsidy spending fell 40.1% to RM23.43 bil in 2025, mainly as petroleum subsidies dropped. Petroleum product subsidies fell 45.2% to RM19.11 bil, helped by lower crude oil prices and the shift towards targeted diesel and petrol subsidies. Petrol subsidies fell 46.5% to RM10.51 bil, while diesel subsidies dropped 48.2% to RM5.98 bil. At the same time, grants and aid for individuals and families jumped to RM20.36 bil from RM4.24 bil. Cash assistance under STR, Sara and Budi Madani totalled RM15.51 bil. The Finance Ministry said savings from targeted diesel and RON95 subsidies were being channelled towards programmes supporting vulnerable groups. But due to Trump, this report, next year, will look ugly.

Shorts:

1. Caning still allowed in schools
   Caning remains permitted for male students in Malaysian schools for certain offences, Education Minister Fadhlina Sidek said. However, it can only be carried out by a headmaster, principal or authorised teacher and must follow strict procedures. It cannot be done in anger or cause injury.

2. Tougher Mat Rempit penalties from Nov
   Tougher penalties for Mat Rempit offences, including jail, are expected to take effect starting Nov 1. The Road Transport Department (RTD) said the Road Transport Act amendments have been approved by Parliament and are awaiting gazetting. The changes will strengthen enforcement against illegal racing, dangerous riding and other offences that endanger road users.

4. AROUND THE WORLD 🌎

Trump tries to strong-arm South Korea in Alaska LNG deal
“Tell them if they don't sign shortly, I'm going to double it up.” That is Trump’s ‘art of the deal’ regarding South Korea’s planned energy and infrastructure investment in the US, after he announced the country’s participation in a USD50 bil (RM204 bil) Alaskan Liquefied Natural Gas (LNG) project. South Korea said they are still assessing the project, but Trump seems keen to get the project moving forward. Though he did not specify what he’s going to ‘double up’ on. South Korea thinks it’s tariffs.

Then, he went ahead to announce that there is an additional USD8.4 bil (RM34.3 bil) enhanced oil recovery project. South Korea said that this was not part of the USD50 bil Alaskan project. Is Trump putting the cart before the horse? Well, the mid-term elections are coming up, and he’s probably looking to score some brownie points with voters.

Russia on cautious alert after researcher dies from plague
Russia has placed nearly 200 people under medical observation in Russia’s Irkutsk region in eastern Siberia after a Russian anti-plague institute employee died from an unspecified form of disease that could be a plague. The employee returned from a work trip to Buryatia, where an outbreak was reported near the border with Mongolia. The authorities are putting them under observation for suspected exposure to the plague and said that the employee was diagnosed with “pneumonia of unknown etiology” while the sanitary and epidemiological situation in the Irkutsk region remained stable. Luckily, they said that expanded testing had not detected microorganisms linked to the employee’s work.

Privacy and data breaches
Norway to temporarily ban use of AI smart glasses
Norway’s government is proposing a temporary ban on the use of AI glasses in selected places such as parks, beaches, museums, shopping centres, schools, playgrounds, youth clubs and public events. The government is concerned that people could be filmed, photographed, and audio-recorded without their knowledge.

Digitalisation and Public Governance Minister Torgeir Micaelsen said. "I am worried that new, powerful technology is being introduced where people risk being photographed, filmed or audio-recorded without knowing it.” However, it clarified that it is not aiming for a total ban and is looking to present a bill to parliament soon. An expert group will be set up to advise on permanent national regulation of body-worn technology.

Hans Anders halts sales of Meta’s glasses, worried about privacy
Hans Anders, a Dutch eyewear chain, is halting sales of Meta’s Ray-Ban smart glasses in the Netherlands and Belgium. The company said, “This decision follows the ongoing public and political debate surrounding smart glasses and the questions being raised about the conditions under which this technology can be used”. Netherlands’ privacy regulator said videos made with smart glasses showing identifiable people cannot generally be shared or published without their permission, which would be difficult to obtain in a public ​place. Consumer rights group Consumentenbond said it would take Meta to court unless the company complies with privacy law. Hans Anders is a subsidiary of Nexeye, and operates 776 stores across the Netherlands, Belgium, Germany, Austria and Sweden.

If you are recent to the newsletter, there’s this term called glassholes.

Daiwa’s information on 110,000 clients may have been leaked
It wasn’t Daiwa’s fault, but yes, about 110,000 clients’ information may have been stolen after the servers of an external vendor were hacked. Scala Communications said that it found evidence of client data being leaked due to unauthorised access. The information includes names and account numbers. Daiwa went on to say that this data can’t be used to access a securities account or conduct online trading and did not detect any inappropriate transactions associated with the leak. Most importantly, its own systems were not breached.

Data breach in Denmark exposes 8.8 mil people’s data
Denmark suffered a MAJOR data breach, where unauthorised individuals had access to 8.8 mil people’s personal data that includes names, addresses and personal identification numbers. They used a private Danish company’s legitimate access to search the Central Person Register (CPR) to access the data, but the access has since been blocked from the system. Authorities say it’s still too early to know who is behind it. The CPR is a cornerstone of Denmark’s highly digitised public sector and stores every resident’s unique 10-digit CPR number that is widely used to identify individuals when dealing with government agencies, banks and healthcare providers.

If we can make a reasonable guess, AI gone wild. The Australian government recently got hacked by OpenAI’s rogue AI agent.

Shorts:

1. Penguins propose to their partners with a pebble
   Forget a 24 carat diamond ring; pebbles are all the craze in the penguin kingdom. For the Adelie (Pygoscelis adeliae) and Gentoo penguins (Pygoscelis papua), the male penguin takes the lead by selecting a special pebble and dropping it on the feet of its female mate during courtship. This is a proposal. If the female is interested, she too will find a pebble. Then, they will go back and forth to collect pebbles to build a nest. What a way to build a love nest.
   Here’s a BBC Earth video that shows this:

2. The Nobel Prize for showing how nerve cells shape feelings
   Karl Deisseroth, Peter Hegemann and Georg Nagel have reached the pinnacle of science awards. They have been awarded the Nobel Prize in Physiology or Medicine for their work in optogenetics, specifically, revealing the links between neural circuits and specific memories, feelings and behaviours relevant for neurological and psychiatric disorders. Already, in clinical medicine, researchers are studying to use the method to try to restore sight for people with visual impairment. The three men will share the GBP900,000 (RM4.9 mil) prize money. Their research provides important insights into how the nervous system interacts with various cells in other areas of the body, such as in the heart and the gut. Let’s take a look at this momentous occasion with a first reaction from the scientists.

5. FOR YOUR EYES 📺

F1 Fever still on

1. No anthem, it’s ok. The crowd went on to sing the viral 33 Max Verstappen song (listen here) during the podium ceremony - you might have heard it before. Origins of this song here.

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2. Interesting facts about Sepang Circuit.

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3. Malaysia’s one and only F1 driver, Alex Yoong. From the man himself, how he got into F1.

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4. Switching out gears. Cadillac F1 driver Valtteri Bottas cycled to Singapore for the next grand prix from KL.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

USD71.5 bil (RM292.07 bil) – The estimated bill for Gaza’s recovery and reconstruction, and is likely to further increase, according to the latest United Nations Conference on Trade and Development report. The report also said Gaza’s economy has experienced the world’s “most severe crisis on record”, attributed to the 59 years of Israeli occupation which have imposed “structural constraints” that have “systematically stunted the Palestinian economy”. This has forced Gaza to depend on aid, even as poverty deepened and productivity was undermined. However, since Israel launched its war on Gaza in Oct 2023, the consequences of the occupation have reportedly skyrocketed, with Israel’s military operations having damaged or destroyed 92% of Gaza’s economic establishments, leaving over 90% of Gaza’s working-age population unemployed and erasing USD2.8 bil in cumulative labour income. In 2025, Gaza’s GDP per capita was USD212 or USD0.58 per day, an 83% drop since 2022.
View: Satellite images of Gaza before vs after

US22.3 bil (RM91.09 bil) – A recent US Defence Department watchdog report found that US forces have fired that much in munitions fighting Iran this year. This does not include the other aspects of Operation Epic Fury, which come to about USD33.4 bil when totalled. The report also said that the amount of munitions fired has led to “strategic inventory shortfalls” and revealed industrial base bottlenecks. The Pentagon is currently addressing those issues by stockpiling critical materials, components, and munitions, while streamlining procurement processes. This report also follows constant assurances by the White House and Pentagon leadership that there are no munitions shortages during the Iran war.

EUR500 mil (RM2.29 bil) – That’s how much the Dutch royal family made through its links to the Dutch East India Company and the country’s colonies, according to a Leiden University study. Essentially, the study found that slavery had helped finance a Dutch “Golden Age”, driven by maritime trade in the 16th and 17th centuries. King Willem-Alexander, the reigning monarch of the Netherlands, had commissioned the study in 2022, and said the findings were “explicit and striking” as he accepted the study at the university. He felt “personally affected”, calling the conclusion “painful and confronting”. King Willem-Alexander had previously apologised for his ancestors’ lack of action against slavery in 2023.

3. IN MALAYSIA 🇲🇾

Melaka state election earliest by end-Oct
Melaka caretaker chief minister Ab Rauf Yusoh said that there are three possible election timetables, with voters could go to the polls as early as October 31, ahead of the imminent announcement by the Election Commission (EC). Ab Rauf, who is also Melaka Barisan Nasional chairman, said the coalition was confident of retaining all 21 seats it won in the 2021 state election.

In related news, BN chairperson cum deputy PM Ahmad Zahid Hamidi announced that BN is expected to announce its electoral partner for the upcoming Malacca state election after the EC unveils the key dates on October 7. Zahid Hamidi hinted that close to formalise a partnership with PAS, with the coalition open to the idea of PAS using its own logo, as it did in the Johor and Negeri Sembilan state elections. However, at the grassroots level, BN plan to mobilise its machinery together with PAS.

PH x BN - it’s over: One coalition that BN may not work together in Melaka is Pakatan Harapan (PH) as Zahid Hamidi said that the relationship between BN and PH have hit ‘an all time low’ and he promised that BN would part ways with PH, the moment Parliament is dissolved. Why not now? Zahid said the commitment to stay until the parliament is dissolved was a promise made to the Yang di-Pertuan Agong.

Business

Johor-Singapore RTS Link’s opening is now delayed to February 2027
RTS Operations (RTSO), the company appointed to run the cross-border rail line, announced that the RTS Link’s commencement is now pushed to February 2027, as the rail line need more time to complete all system tests and trial runs and to get the subsequent third-party safety certification and approval by RTSO’s grantors. RTSO’s grantors (the authorities which grant it the right to operate) are Singapore’s Land Transport Authority (LTA) and Malaysia’s Ministry of Transport. Previously, RTS Link was slated to operationalise by the end of the year.

Zetrix AI not catching any break
The Road Transport Department (JPJ) will suspend MyEG Sdn Bhd and Zetrix AI Bhd, both under MYEG Group, as its collection agents effective 12.01am on October 5. JPJ added that the decision was made partly due to outstanding obligations that have yet to be fulfilled. The Transport Ministry confirmed that Zetrix AI owes Putrajaya more than RM200 mil in payments collected for vehicle road tax, driving licence renewals and traffic summonses since its three-year contract began in May 2023. What’s funny is that it took this long to suspend the company. Post JPJ announcement, Zetrix AI share price fell to a 13-year low of 10 sen. On Aug 28, the stock plunged 50% to 29.5 sen and has lost more than RM6 bil in market cap since then.

Shorts

1. Petaling Jaya MP quits his post

   Petaling Jaya MP Lee Chean Chung has announced his resignation as the Member of Parliament, without any conditions. Lee added that on September 30, he has received a letter stating that his PKR membership has been suspended for three years. With that, he then decided to issue his resignation letter as a PKR member today. Previously, the decision to suspend Lee was due to growing unhappiness among grassroots members in the Petaling Jaya division following Lee’s involvement in Bersama’s events, despite him still being a PKR member. On another hand, PKR readmitted 3 former MPs who left PKR - Edmund Santhara Kumar, Kamarudin Jaffar and Steven Choong. The first were among 11 MPs who left PKR during the Sheraton Move in 2020. Choong left PKR in Feb 2021 after expressing support for the PN government. What is Anwar thinking?

2. Malaysia in talks to host F1 again

   PM Anwar Ibrahim stated that Putrajaya is actively discussing the return of Formula One (F1) racing to Malaysia. The last time Malaysia hosted an official Malaysian Grand Prix was in 2017, when rising hosting costs and declining ticket sales forced the country to drop out of the sport. However, after a nine-year absence, F1 unexpectedly returned to the Sepang International Circuit this past weekend. The weekend was a success with more than 216,000 people flocking to Sepang. But it was equally chaotic with poor transportation arrangements (watch here).

3. After 16 years, Azizulhasni won Asian Games keirin gold again

   National cyclist, Azizulhasni Awang clinched gold at the Aichi-Nagoya Asian Games. He beat China’s Xie Han, who placed second. Xie Han is currently ranked 20th in the UCI Men Elite Sprint Ranking, with Azizulhasni ranked one place below him. This is Azizulhasni's third career Asian Games gold medal after emerging victorious in the men's individual sprint at Indonesia 2018 and the winning the keirin gold at Guangzhou 2010.

4. AROUND THE WORLD 🌎

UAE says Flydubai co-pilot used crash axe to attack
A United Arab Emirates (UAE) prosecutor general has said that the co-pilot of FlyDubai flight FZ1073 bound for Israel has attempted to carry out a "terrorist attack" with a crash axe, typically kept in the cockpit for use during emergencies such as crashes. The co-pilot was identified as an Omani national, Hammam al-Hammami, but the UAE authorities did not immediately respond to a request for confirmation of his identity. He was banned from flying on his country’s airline because of concerns about extremist views.

While Emirati authorities and the airline have not publicly identified the co-pilot, Israeli officials have previously said he is an Omani national. Israel does not have official diplomatic relations with Oman, and Netanyahu has said pilots from such countries were not permitted to operate flights to Israel. It was not clear how the co-pilot came to be assigned to the flight to Tel Aviv. He also said a day earlier that the co-pilot had undergone radical Islamist indoctrination and was clearly suicidal, though he said a motive had not yet been established. Israel seems to know so much already.

Thai Airways chief fired over Bangkok flood chaos
Thai Airways CEO Chai Eamsiri has been fired by the company following its chaotic response to the heavy floods that hit Bangkok last week. Chai said that the company did not give any specific reason, but Thai Airways said that he had been suspended pending a fact-finding investigation and review of its crisis management procedures. As Bangkok received a staggering 320 mm of rain over three days last week - as much as it typically receives in all of September - Thai Airways had been forced to cancel dozens of flights and suspend its cargo operations. Chai, who had publicly apologised for the chaos, joined the carrier in 1985, rising through the ranks to become its chief financial officer before being appointed CEO in 2023.

Cornell 7 gang-rape case: Are college students really protected from sexual abuse?
The detailed graphic lawsuit alleging a 7-person gang-rape on a female student at Cornell University last month has reignited fury in the US over the failure of universities and colleges to address sexual violence on campus. 

In this case, the accuser, Jane Doe, has said that in 2024 she was drugged with ketamine, assaulted and raped by seven members of the Chi Phi fraternity, a social club for male students. As devastating as it sounds, it is not an uncommon thing - an estimated one in four female students and one in 14 male students experience rape or sexual assault at some point during their undergraduate studies, according to a 2020 study by the Association of American Universities.

The investigation was closed in 2024, but was recently reopened after the victim’s civil lawsuit fueled allegations that prosecutors and the elite college had failed to hold the men accountable. Observers have noted that severe punishments like full expulsions are rare for fraternity members as they are often connected to elite networks and represent a key source of revenue for universities.

The Kindness Mob to fight cyber bullying
The Internet is a scary place, and one can easily fall prey to bullies and malicious, faceless people hiding behind keyboards. Tyler Brickley, a digital marketer from Kansas City, US, simply won’t have it - Brickley decided to build an army of kind people on TikTok to counter those evil people.

Dubbed the Kindness Mob (visit site here), Brickley said that it is a form of trolling where the mob uses kind words to bombard the comment section of a person who was being bullied or overlooked. Often, the flood of nice comments caused the bullying to stop. It is an example of what scholars call "social contagion theory", where positive or negative behaviour spreads from person to person like a virus. By Brickley's count, he's organised 350 mobs, and the average video gets 1,000 comments.

In September 2025, Brickley's following grew from 30,000 to 200,000 all at once. He admitted that it has led him into a “kindness burnout”, as every day, 20 to 100 people are nominated for the mob. Logistically, Brickley was drowning. But at least he managed to get some volunteers to assist him with the noble work. Experts say such initiatives have a “limited shelf life” as the person leading the initiative will usually burn out in a year or two. What society needs is a larger shift in social norms around how we treat people online.

Shorts

1. OpenAI safety leader quits over “broken” AI culture

   David Robinson, a safety leader at OpenAI, has quit the company due to what he calls a “broken culture” in the firm, where AI firms are not “being nearly careful enough” about developing the technology. He also said that Silicon Valley lacked an awareness of “how to handle dangerous technology” and “what it means to care for people”. Robinson called for two safety changes: that AI firms rely on safety expertise in other fields such as nuclear and aviation, and that they develop “new science” that ensures powerful systems in the future are capable of being reined in when they are operating autonomously.
   Have you been speaking politely to your AI?

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2. G7 to release millions of barrels of oil and diesel

   The G7 - US, UK, Canada, Japan, Germany, Italy and France - has announced that 100 mil barrels of oil and diesel will be released to ease supply concerns that have caused prices to skyrocket. It includes a "substantial release" of diesel within 20 days, with discussions around "additional diesel releases as necessary”. There will be no "export restrictions on energy and energy products" among G7 members, even though the announcement came after Trump threatened to ban diesel exports from the US to European countries.

5. FOR YOUR EYES 📺

1. TIL: The ‘missed call’ from unknown foreign numbers is a thriving fraud industry known as False Answer Supervision, causing losses of USD17 bil annually. Read more here.

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2. Cheating the casinos

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

RM3,803 – According to the Salaries and Wages Survey Report 2025, that’s the average monthly salary and wage of Malaysians in 2025, up 4.1% from RM3,652 in 2024. The report, published by the Department of Statistics Malaysia (DOSM), also showed that the median monthly salary and wage increased by 5.3% to RM2,940 from RM2,793 in 2024. The report also found that the total number of monthly salary and wage earners rose to 12.01 mil, up from 11.96 mil in 2024, with Malaysians accounting for 10.38 mil of all full-time paid employees. Of all occupations, mining and quarrying continued to have the highest average monthly salary and wage at RM6,175, followed by services at RM3,993 and manufacturing at RM3,357 (career change perhaps).

RM2,223 – However, nearly two-thirds of Malaysia’s wage earners were in semi- and low-skilled jobs in 2025, with that amount or less in median monthly wages, according to DOSM. Semi-skilled workers, who account for 55.6% of wage earners, had a median monthly wage of RM2,223, while low-skilled workers, who make up 7.8% of wage earners, earned a median monthly wage of RM1,758. In comparison, skilled workers, who make up 36.6% of total wage recipients, earned a median RM5,057. These figures point to a wide wage gap across skill levels, with skilled workers earning nearly three times as much as low-skilled workers. In 2018, Bank Negara Malaysia defined a living wage in Kuala Lumpur for a single adult at RM2,700, a couple with no children at RM4,500 per month, and a couple with two children at RM6,500 per month. RM2,223, or worse, RM1,758, is nowhere near living wages. RM3k minimum wage potentially incoming by 2030.

RM1.18 mil – That’s the amount that has been paid to 652 whistleblowing civil servants since 2012, of which 529 received both monetary incentives and certificates, while another 123 were awarded certificates of appreciation. This means JUST an average of RM2,230.62 per monetary incentive recipient. The payouts were rewards for the civil servants taking a stand against corruption by reporting bribe offers and demands. The police topped the list of recipients with 437 officers, followed by the Immigration Department with 64 officers and the Malaysian Maritime Enforcement Agency with 33 officers. For the 2026 evaluation series, 54 public servants across four agencies have been nominated, involving 30 investigation papers and a combined total of RM304,621 in attempted bribes. To qualify for the award, nominees must undergo strict MACC integrity screening and police criminal record checks.

3. IN MALAYSIA 🇲🇾

Two more institutions under the spotlight
After the infamous scandals involving Lembaga Tabung Haji, FELDA and Boustead Naval Shipyard, two more institutions are now being put under the fine-tooth comb.

1. UiTM Holdings - The Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Abd Halim Aman said that the anti-graft body has identified governance issues at UiTM Holdings Sdn Bhd during its probe and will recommend measures to address them. He added that although governance issues may not constitute an offence that can be charged in court, they are matters that can be improved. Previously, former UiTM Holdings CEO Azlizan Fadzil pleaded not guilty to a criminal breach of trust charge involving RM37.37 mil earmarked for a large-scale solar power project in Gambang, Pahang. Azlizan showed up at court on a wheelchair, straight from the politician's playbook.

Twitter tweet

2. Rural Ministry - MACC is ready to step in and investigate allegations that the Rural Ministry, currently under the leadership of the Deputy PM Ahmad Zahid Hamidi, had overspent by RM2.1 bil. However, MACC Chief Commissioner Abd Halim Aman stated that no official complaints have been made thus far. After Abd Halim made the statement, Deputy Treasury Secretary-General (Policy) Zamzuri Abdul Aziz said that the issue concerning the Rural Ministry has been resolved. No further explanation was given.

DAP says no to Harapan-Bersatu pact for the Melaka state polls
Melaka DAP chairperson Khoo Poay Tiong stated that, “as politicians, we should not burn bridges and need to be open to discussions, even with political foes.” But he highlighted that he still cannot accept cooperation with Bersatu, the party that triggered the collapse of the Harapan-led federal government via the Sheraton Move. At the same time, Khoo opined that it is nearly impossible that the Harapan-Barisan Nasional (BN) relationship will be mended, given the accusations that have been thrown around against each other.

At the moment, the 28-seat Melaka State Legislative Assembly, which was officially dissolved on Sept 23, was dominated by BN with 20 seats, Pakatan Harapan (PH) with five seats and Perikatan Nasional (PN) with three seats.

Pakatan Harapan's chances of winning a majority in Melaka on its own are low to moderate, mainly due to BN’s dominant stronghold in Melaka and the momentum built after the party’s strong results in the Johor and Negeri Sembilan state elections.

If PH want to win the election or even participate in forming a government, it must defend its urban base and actively flip a substantial portion of Melaka's 11 highly volatile marginal seats, like Serkam, Pengkalan Batu, Duyong, and Durian Tunggal, which feature past victory majorities of fewer than 600 votes.

Business news
MOF backs AirAsia fundraising drive
The fundraising drive for AirAsia, led by the global aviation advisory firm Alton Aviation Consultancy, has received a major boost as the Ministry of Finance (MOF) has backed the capital-raising exercise, where as much as RM4.1 bil will be raised. Previously, MOF had mandated Alton to seek potential sources of funding and has provided an undertaking or some form of guarantee that could help Alton secure borrowings of significant size.

Alton would also be entitled to a success fee if it secures the financing, with the fee calculated as a percentage of the amount raised. We need to accept the fact that AirAsia has become too big to fail, as the company commands roughly 60% to 61% of Malaysia's domestic aviation market share by capacity, making it the absolute dominant player in the country's skies. The move reflects the government’s efforts to support AirAsia’s financing and to ensure AirAsia tak bungkus.

Malaysia Aviation Group to acquire Sepang Aircraft Engineering by 2027
While AirAsia is struggling, its competitor Malaysia Aviation Group (MAG), the entity that owns Malaysia Airlines, is on a shopping spree and has entered into a sale and purchase agreement with Airbus Group to acquire its wholly owned subsidiary, Sepang Aircraft Engineering (SAE), at an undisclosed value. SAE provides maintenance, repair, and overhaul (MRO) services for aircraft, specialising in Airbus models.

Klang Valley happening weekend
Happening weekend but staying at home is highly recommended for Klang Valley residents because, firstly, the haze is not going anywhere anytime soon (up until the point that Bloomberg listed Kuala Lumpur among the world’s five most polluted cities), but, there are lot of major events happening. During this ‘Super Weekend of 2026’, we have -

• Formula 1 Gulf Air Bahrain Grand Prix in Malaysia at Sepang International Circuit, where close to 100,000 people are expected to attend.

• Kuala Lumpur Standard Chartered Marathon (KLSCM) 2026, where some roads around Dataran Merdeka would be closed to welcome more than 40,000 runners.

• Le Tour de Langkawi 2026, where the grand finish will be held at Putrajaya.

So, good luck to Klang Valley’s roads and public transport system.

4. AROUND THE WORLD 🌎

Danger in the sky - when one pilot stabs the other and tries to crash the plane
A Flydubai flight FZ1073 flying from Dubai International Airport in the UAE towards Ben-Gurion Airport in Israel was diverted to Saudi Arabia in an emergency landing on Wednesday, after one pilot stabbed the other and "apparently tried to crash the plane" - according to Israeli PM Benjamin Netanyahu. The flight was carrying at least 150 people, with Netanyahu saying "almost all" passengers were Israeli and lost 5.2 km in altitude within a minute.

The passengers reportedly intervened to stop the attack by restraining the Omani co-pilot, while a reserve crew in the plane was able to stabilise the plummeting plane and ultimately land it safely in Saudi Arabia. The stabbed pilot, later identified as Indian national Capt. Smit Machchhar, was hailed as a hero by Netanyahu. Investigations have opened over the incident, but at the time of writing, no apparent motive was identified. Interestingly, the attack came just days after Netanyahu warned of an unspecified security threat to Israel that could come during its Oct election. Some scenes from the incident here.

Posh Prison Life
After reading this section, it makes you wonder if similar thing is happening in Malaysia

Diddy is living a VIP prison life
Sean Combs aka Diddy is apparently living “luxuriously” in prison, having other inmates hired as “staff” to cook, clean, make his bed, do his laundry and even give him massages. He even has a contraband cellphone, paid for with funds deposited from outside the prison into their commissary accounts. The billionaire hip-hop honcho also watches movies and documentaries on a “jailbroken” tablet he’s gotten hold of. Combs is about a year into serving an initial 50-month sentence at the low-security Federal Correctional Institution in Fort Dix, New Jersey, after being convicted in Jul 2025 of transporting people for prostitution. He also faces numerous civil lawsuits, many related to the “freak-off” sex parties he allegedly forced women to participate in with paid male escorts who were transported across state and international lines for the multiday, drug-fuelled orgies.

Indonesian wrongful prison “villa” demolished
Indonesian investigators have uncovered a cluster of indulgently furnished apart­ments inhabited by prison inmates on the grounds of the Cibinong prison in Bogor, south of Jakarta. The inmates have allegedly paid rent for the accommodation complete with couches, large beds, TVs, fridges and dining tables. A golf simulator was also being built for the residents. Authorities have told reporters that 52 inmates had been questioned so far, and the head of the prison and four other senior officials have been suspended. The compound was then demolished after public outcry. The incident has drawn widespread public attention and renewed scrutiny of Indonesia's prisons, which have long faced allegations that wealthy or well-connected inmates can obtain preferential treatment through bribery.

@bbcnews

Officials said the luxurious residences appeared to house inmates, although prison officials have claimed they were for staff. #Indonesia ... See more

Parkinson’s patient “saved” by Google Gemini
Ed Patrick, an anaesthetist from Oxfordshire, managed to save his mother from serious and continuous seizures due to Parkinson’s, after using Google's Gemini AI tool to scour recent medical journal articles., helping his mother recover from serious and continuous seizures potentially linked to a vitamin B6 deficiency associated with her Parkinson’s medication. The “research” has helped him identify a vitamin deficiency linked to her Parkinson's medication as a possible cause, which he alerted to the neurology consultant.

She was then given a vitamin dose that appeared to stop the seizures within minutes, and continued to recover fully, with her cognitive Parkinson's symptoms dramatically improved. The discovery has given new hope to medical experts in treating complications from Parkinson’s disease. Parkinson's is a progressive disorder that affects the brain, nervous system, and muscle control.

However, doctors advise patients living with Parkinson's to treat this information with caution, as patients should not be making changes to medications or supplements before taking proper medical advice from professionals.

Shorts:

1. A messy execution in Tennessee
   Christa Pike, who was scheduled to become the first woman to be executed in Tennessee in more than 200 years, appeared to have survived two doses of the lethal injections that were supposed to kill her. Journalist witnesses reported snoring, loud exhales, gasps and complaints from Pike about pain, as well as her kicking her feet so often that she knocked off the sheets laid over her. She was then taken away in an ambulance to be treated at a hospital. The Tennessee governor has ordered a “comprehensive” investigation into the matter and said that the remaining scheduled execution will not take place this year.

   Fun fact: There are multiple cases of unsuccessful execution attempts that led to a pardon or a commute before, such as the case of “The Unhangable Australian” and the “Half-hanged Maggie”.

2. Tightrope daredevil Jaan Roose sent Seoul into a daze
   Estonian aerial athlete Jaan Roose has successfully crossed a 160-meter-long highline suspended 120 metres above Seoul, in what organisers called South Korea’s first high-altitude slackline performance. The slackline ran between the Koreana hotel and the Dong-A Media Centre, a few hundred metres from the capital’s famous Gyeongbokgung palace and Gwanghwamun square. Watch the high-adrenaline, suspenseful walk here.
   Fun fact: Korea has its own traditional form of tightrope walking named jultagi, which was added to UNESCO’s list of intangible cultural heritage in 2011. Unlike tightrope walking elsewhere, jultagi blends comedy and acrobatics, as the walker sings, jokes and dances on the rope, trading banter with a clown on the ground as musicians play.

3. Optional parental controls for teenagers on WhatsApp
   Meta has introduced new optional parental control features on WhatsApp for teen accounts, allowing parents to know when their child joins or leaves a group. It will also let them decide on privacy settings for their account. Additionally, parents can also select who can see a child's profile photo and who can add them to groups. However, they won’t be able to see messages sent and received by their teen, as it stays private and protected by end-to-end encryption.

5. FOR YOUR EYES 📺

Little, fun science fact for the weekend

1. One udara, but multiple measurements. Understanding the various air measurement methodologies.

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2. Do you know, apart from escalator and kids, metal and microwave don’t go well - it dangerousy sparkles.

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3. Looks like fixing broken bones is much easier than fixing broke bank accounts. Linguistic wise, when someone says break a leg to you, it actually means well - more here.

Re-sharing this weekend family activity. Have a good weekend!

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2. NUMBERS AT A GLANCE 🔢

Over 600 – That’s how many children were named after anime characters in Indonesia, according to figures released by Indonesia’s civil registration department. A total of 347 have either “Uzumaki” or “Naruto” in their name, after the protagonist of the ninja-themed manga and anime series “Naruto”, with other names inspired by characters from other anime and manga series such as “Doraemon” and “One Piece”. Meanwhile, popular artists also became naming inspirations, with 15,281 names inspired by Selena Gomez and another 5,533 named after Ariana Grande. Local media reported that naming trends change over time, with younger parents placing less importance on giving traditional Indonesian names to their children.

1534 – That was the last time an English monarch and a Catholic pontiff prayed together before last Oct, when Britain’s King Charles and Pope Leo prayed together in the Vatican’s Sistine Chapel. This follows King Henry VIII breaking away from Rome 492 years ago due to Pope Clement VII refusing to annul the king’s marriage to Catherine of Aragon, so he could marry another. King Henry VIII desired a male heir and a new wife who might provide one. He had also been ordering the seizure of church assets in a time when Protestant ideas were growing in England, leading to a turbulent separation between king and pope. Westminster Abbey’s canon theologian, Anglican Rev. James Hawkey, noted that the event in the Sistine Chapel offered “a kind of healing of history”, adding that such a joint prayer would have been impossible a generation ago, showing how far the Church of England and the Catholic Church had come since the separation.

14.7 mil – Shanghai Disneyland recorded that many visitors in 2024, a 5% growth over 2023, which is faster than any other theme park that logged more than 10 mil visitors. This also made the theme park the fifth-largest in the world by attendance, trailing Disney parks in Florida, California, and Tokyo, as well as Universal Studios in Osaka. However, the landscape is becoming more competitive, as Danish toymaker Lego opened its first theme park in Shanghai last year, with Chinese toymaker Pop Mart having recently expanded its park in Beijing. In response, Disney has pledged to expand Shanghai Disneyland, with growing speculation about a second park near the current one following an announcement that a fourth hotel will be built near the entrance.

We good. We back.

But sorry about today’s late edition.

I think many missed our message last week, which was above the market summary table. Went for a break, and that we would be back today if AI didn’t take over the world. Thanks for checking in on us for those that reached out.

Was in Bangkok and nearly made the news ourselves had we got stuck in the flood. Though disaster zone was declared, some areas were bad, some were fine. Bangkok people are next level, enjoying the flood.

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3. IN MALAYSIA 🇲🇾

More airlines, higher train fares
KLIA to welcome up to four new airlines: KLIA is expected to welcome three or four new airlines before the end of 2026, with talks at an advanced stage. Malaysia Airports Holdings Bhd group managing director Mohd Izani Ghani said the airport operator is preparing for the new carriers as it expands KLIA’s international network. No airlines have been named yet, but MAHB said talks are progressing well and the new carriers are expected to begin serving KLIA by year-end. KLIA is also preparing for higher passenger traffic ahead of the Formula 1 Gulf Air Bahrain Grand Prix at Sepang International Circuit from Oct 2 to 4, with around 200,000 spectators expected over the three-day event.

KLIA rail fares rise in Jan: Travelling between KL Sentral and KLIA will cost more from Jan 1, 2027, after Express Rail Link announced its first fare revision in 11 years. The standard one-way adult fare for KLIA Ekspres and KLIA Transit will rise from RM55 to RM65 (+18.2%), while a return ticket will cost RM118. Children aged six to 15 will pay RM29 for a one-way journey and RM53 for a return trip, while children under six will continue to travel free.

Fares for other KLIA Transit routes will also increase, including journeys to Bandar Tasik Selatan, Putrajaya and Cyberjaya, and Salak Tinggi. ERL said the increase reflects higher operating and maintenance costs and will help maintain service standards and fund future improvements. The company is also working with partners on possible ticket discounts of up to 30% from Jan 2027, with more details to be announced later.

Another mess - UiTM Holdings
Former executive faces RM42 mil charge: A former senior executive linked to UiTM Holdings is set to be charged over alleged abuse of power involving about RM42 mil in operational payments. MACC said the man, in his 50s, was arrested at his Klang Valley home and is suspected of approving payments in 2017 to several companies in which he allegedly had an interest.

UiTM Holdings calls RM157 mil losses a legacy issue: UiTM Holdings says its RM157 mil in accumulated losses are not new and date back from 2017 to 2021. Chairman Dr Fathul Bari Mat Jahya said the figure was reported in 2023 and later examined in the Auditor General’s Report and Public Accounts Committee proceedings. Fathul said the current leadership, which took over after the period in question, is focused on fixing the company rather than using past problems as an excuse. Mohd Shukrie Mohd Salleh has served as UiTM Holdings’ group CEO since Jan 2025, while Fathul was appointed Chairman in Aug 2025.

MACC’s investigation is still ongoing and covers several investments and financial decisions that allegedly caused losses amounting to several mil ringgit. One area under scrutiny is a 50-megawatt solar project in Gambang, Pahang. Fathul said the priority now is to rebuild the company and return value to UiTM. He has also proposed giving public university companies the first opportunity to compete for projects within their own university ecosystems, provided they meet the required standards.

The RM3k minimum wage
Micro, small and medium enterprises (MSMEs) could be temporarily exempted from the next minimum wage increase as the government studies how to increase pay without adding more pressure on businesses. Entrepreneur and Cooperatives Development Minister Steven Sim said other measures, including wage subsidies under the Progressive Wage Policy, could help wages rise alongside productivity. However, government spokesman Fahmi Fadzil later clarified that no final decision has been made on the new minimum wage rate or how it will be implemented. The earliest update is expected during the tabling of Budget 2027 on Oct 9. Malaysia’s current minimum wage is RM1,700 a month, which took effect in Aug 2025. The government is targeting a minimum monthly wage of RM3,000 by 2030 under the 13th Malaysia Plan (+76.5% in 3 years).
Definition of medium, small and micro SMEs here.

Shorts:

1. Tun M under observation at IJN
   Former Prime Minister Tun Dr Mahathir Mohamad was admitted to the National Heart Institute on Sept 29 for observation after what his son described as a stressful few days following the death of his wife Tun Dr Hasmah Mohd Ali. Mokhzani Mahathir said his father is doing well and there is no cause for concern. Hasmah, 100, passed away at IJN on Sept 28 and was later laid to rest at Pusara Negara in Putrajaya with full state funeral honours. Mahathir had been at IJN during her treatment.
   A study of longtime couples found that widows and widowers were at least 30% more likely to die of any cause during the first 6 months following a spouse’s death, compared to those who did not lose a partner. This phenomenon has a scientific name - Broken Heart Syndrome.

2. Grab adds kid-friendly rides
   Grab Malaysia has launched Kid-Friendly Rides in beta, offering booster seats for children aged four to 12. The service is currently available through advance booking for airport trips to and from KLIA Terminal 1 and Terminal 2, using selected Standard 6-Seater and Grab EV Exec vehicles. Drivers are trained to handle the child seats, which are provided by Koopers. A booster seat costs an extra RM10 for Standard Six-Seater rides, while it is free for Grab EV Exec bookings. Grab plans to expand the service across the Klang Valley before rolling it out in Penang and Johor Bahru.

3. Haze hangs over F1 weekend
   Severe haze is hanging over Kuala Lumpur just days before Malaysia’s first Formula 1 race in nine years at Sepang International Circuit. Kuala Lumpur and Singapore are currently among the world’s five most polluted cities, with smoke drifting in from wildfires in Indonesia. The Malaysian government says this weekend’s F1 race, Standard Chartered Marathon and Le Tour de Langkawi will still go ahead for now, although organisers are watching conditions closely. Forecasts suggest the dry weather and winds driving the haze could continue for another week, while recent rain may bring some temporary relief.

4. AROUND THE WORLD 🌎

Anthropic, a USD2 tril company with USD42 bil in net loss
We have not seen the whole thing yet, but Reuters got the first look at Anthropic’s IPO prospectus. Ambition-wise, Anthropic is right up there, as it thinks that AI will transform the global economy more profoundly than industrialisation, electricity and the internet. To power its AI ambitions, Anthropic has USD518 bil in future cloud, computing and infrastructure obligations in the coming years (bigger than our country’s GDP). For now, the company could be valued at about USD2 tril, compared to USD965 bil in May. This puts it on par with Elon Musk’s SpaceX market capitalisation of USD1.7 tril.

However, Anthropic has also warned that the pace of AI development needs to be slowed down, as autonomous AI can behave in unexpected and harmful ways, such as sabotaging code, assisting fraud and manipulating information. Meanwhile, here are the important numbers from Anthropic’s prospectus:

• Revenue grew 12-fold from USD0.4 bil in 2024 to USD4.6 bil in 2025.

• Net losses ballooned from USD8 bil to USD42 bil over the same period.

• USD34 bil is charged to reflect the estimated value of financing that could turn into Anthropic shares.

Anthropic is aiming to list after the Nov mid-term elections in the US.

Dots, OpenAI’s new AI agent…
First thoughts when we saw OpenAI’s name for its new AI agent: …
Yes, OpenAI named it Dots. Guess who also has that name? Two Chinese AI companies that are 1) Dots Studio, which makes vision-language models, and 2) DOTS, a US trademark application covering AI chatbot and personal-assistant software filed by Shanghai Shengdonshizhang Technology. OpenAI’s Dots introduces a fleet of always-on AI assistants that can keep working across projects after a user closes the chat.

It’s no wonder people are confused about the naming. And the internet went to town, memeing the company to oblivion. Something even more interesting happened. If you visit dot.com, you will be directed to Grok AI. Elon Musk is doing some trolling.

Another Musk troll - he named a project Macrohard. If you don’t get it, what is the opposite?

AI agents could trigger bank run
Banks are worried that AI agents could cause bank runs. The logic is this. People are increasingly using AI agents to manage and maximise their savings returns. That money sitting in a savings account generating only 1%? That is now going to a high-yield account run by fintech firms. Banks are worried that a sudden large outflow of money could cause their depositors to demand their money back, triggering a classic bank run. That also means that banks will not have enough funds to lend out money to other people and businesses.

All about Singapore
GIC goes big in Japan, buying 16 hotels
With the tourism boom in Japan, GIC, Singapore’s sovereign wealth fund, is taking a stake in the boom trend. It has acquired 16 hotels in Japan operated by Marriott International for about USD800 mil (RM3.3 bil) from US investment firm KKR & CO. GIC will take over Four Points Flex by Sheraton, a mid-price-range hotel chain operating in 11 cities, including Tokyo, Osaka, Kyoto and Fukuoka. Hotels are considered less vulnerable to inflation as they can easily raise room rates. This helps them maintain profitability even when the cost of living increases. The number of foreign visitors broke above 40 mil for the first time in 2025, reaching around 42.7 mil people.

FirstDate, Singapore’s matchmaking service for government workers
Love is in the… government office. Singapore has rolled out a matchmaking service called FirstDate for its government workers. It was launched this week for those aged 21 to 35 and says that it has ‘a different approach to dating’. It uses a Nobel-winning algorithm to match participants to one date at a time. This drew mixed responses among Singaporeans. Some described it as ‘dystopian’ while others think they might try it. And it has gotten serious criticism too. The age limit is one of them. One Reddit user said, ‘Since there are higher risks involved in having kids at 35 and older, the government just writes [the older singles] off’.

Singapore’s birth rate has declined to historic lows. Only 30,000 babies were born in 2025 - the first time in the past 60 years. Let’s hope people start having more babies.

SGD10,000 fine for fake AI image of a crocodile in Singapore?
Ye Lin, who is from Myanmar, is being charged by the Singaporean police for posting an AI-generated image of a saltwater crocodile in a popular reservoir to a colleague. More specifically, he is being charged with communicating a false message and obstructing the course of justice for allegedly deleting the picture and the application he used. Apparently, the national water agency had to suspend its work at the reservoir for two days last month after receiving information that a crocodile had been spotted. They then conducted a search and rescue operation. If Ye Lin is found guilty, he could face a fine of up to SGD10,000 (RM32,000) or a three-year prison sentence, or both, for sending a false message.
Though, the police did not disclose how they were notified of the false photo that Ye Lin sent to the colleague.

China and US to cut tariffs on USD60 bil products
Good news for global trade. China and the US have agreed to cut tariffs on USD30 bil (RM122.5 bil) of imports from each country, or USD60 bil combined. This includes products such as corn, cosmetics, household appliances, toys, etc. The US said that this improves market access for about 30% of US exports to China. China will trim duties on corn, wheat, sorghum, meat, dairy, and vegetable oils and meals from the US. The US will cut tariffs for small appliances, tableware, blankets, bed linens, toys, fireworks, flowers, and other holiday decorations.

5. FOR YOUR EYES 📺

Today’s special tribute to Ibu Negara

1. The life of Dr. Hasmah (no Siti) in few slides.

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2. Tun Dr. Hasmah special appearance in Upin & Ipin.

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3. When then 10-year-old Kashika Selvam interviewed Tun M and Tun Dr Hasmah back in 2018.

4. In a same same but different story, Dr Suri Srimathi, a 92-year-old gynaecologist from Hyderabad is still practising medicine for more than 60 years and still performs surgeries.

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4. Not same. not related. Remember we shared a video that kids and escalator don’t go along well? Witnessed that right in front of my eyes yesterday. Fortunately, the kid was fine.

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

USD2 bil (RM8.15 bil) – Global investment firm KKR has delivered that amount in private equity profit-sharing to more than 40,000 employees across 15 companies it has exited (~USD50k average per pax). The 15 were part of 91 firms that KKR has programmes with, and the profit-sharing is part of the investment firm’s Shared Success initiative to share its profits with workers at its portfolio companies. When KKR sold Integrated Specialty Coverages in Sept 2025, employees there saw between three and 30 months of salary as a cash bonus, with nearly 400 employees receiving between a minimum of USD10,000 and a maximum of more than USD413,000. Learn more about KKR’s Shared Success initiative here.

22 years – The embryo that brought a daughter and renewed hope into the lives of Cristina Rapti-Tzelepi, now 54, and her husband, was frozen for that many years. This has been noted as an unusually long time for a frozen fertilised egg to be used to produce a pregnancy. The couple were also in a race against time, as Greek authorities had an age limit of 54 for women who wanted to complete an in vitro fertilisation procedure. The couple had lost their 21-year-old son to a road crash last October. Notably, this is not the longest-frozen embryo that has developed into a full pregnancy. That record goes to a couple in Ohio, who welcomed a baby boy using an embryo that was frozen for more than 30 years.

26 – That’s the number of times local mathematics teacher Zulkifli Md Pungut, 58, has taken the SPM examination, and he uses his first-hand knowledge of the pressure students face to refine his teaching approach. Zulkifli, who is also the principal of Sekolah Menengah Kebangsaan Simpang Renggam in Johor, has been taking the exam since 2011. He said this allowed him to assess the difficulty of the papers and changes in the exam format while experiencing the challenges faced by students, such as the time pressure, mental fatigue, and anxiety experienced by candidates. In response, he has reshaped his teaching approach to include helping students develop time-management skills, strategies for answering questions under pressure, and ways to manage their emotions. Zulkifli also said that one of the most notable changes in the modern SPM was the greater emphasis on Higher Order Thinking Skills (HOTS), with questions no longer focused solely on routine calculations or memorisation.

3. IN MALAYSIA 🇲🇾

Cash in, cash out
Tofu seller pledges RM10,000 for Najib: Sunnycoco founder Sunny Seow has pledged RM10,000 towards former Prime Minister Najib Razak’s RM50 mil fine, describing it as repayment for help he says he received 14 years ago. Seow said that while he was serving a sentence in Manjung in 2012, he asked a local penghulu to submit an appeal to the Home Ministry for an early release so he could care for his elderly parents. During Najib’s visit to the area that year, the appeal was submitted and Seow later received approval to end his detention early and return home.

Seow said the decision gave him a chance to start again. After his release, he rebuilt his life by starting a small tofu pudding business, which later became the Sunnycoco brand. He said Najib’s current effort to serve the remainder of his sentence under house arrest reminded him of his own situation years ago and prompted him to offer financial help. Seow estimates that he earns about RM1 in profit from each bowl of tofu pudding, meaning his RM10,000 pledge represents the profit from around 10,000 bowls. He stressed that the contribution was a personal gesture rather than a political statement and said he was not asking others to follow his example. According to Seow, the pledge is simply his way of repaying what he sees as a debt of gratitude for the help he received in 2012.
Read: Najib’s house arrest explained: 10 questions about pardons, prison powers and what happens next

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Rosmah ordered to deposit RM67.5 mil: Rosmah Mansor has lost her bid to delay a RM67.5 mil payment linked to 43 pieces of jewellery that went missing after a 2018 police raid. The Court of Appeal ruled that she must deposit the money into a stakeholder account while she continues appealing an earlier High Court decision in favour of Lebanese jeweller Global Royalty Trading SAL. The dispute began with 44 pieces of jewellery that Global Royalty had consigned to Rosmah. Only one was eventually recovered and returned. The High Court later found Rosmah liable for the remaining 43 pieces and ordered her to pay RM67,461,027.37.

Rosmah maintains that the jewellery had been in the authorities’ possession after the raid and argues that the police or government should be responsible if the items were lost. Her lawyers also said her assets were tied to a separate 1MDB-linked case, but the Court of Appeal found that this did not justify fully suspending the payment. Her lawyers said they would continue to challenge any attempt to enforce the order. Rosmah’s main appeal over the jewellery case is scheduled for Mar 25, 2027. Now, hypothetically, if she have the RM67 mil - pay for husband’s fund or for her jewelleries?

Teen murder case grounds of judgement is out
The 15-year-old boy acquitted over the Bandar Utama school killing had been showing signs of very early-onset schizophrenia since he was nine, according to the High Court’s grounds of judgment. Judge Adlin Abdul Majid said the illness progressed untreated for about five years, despite counselling, concerns raised by the school and changes in the teenager’s behaviour. Signs included withdrawal, delusional thinking, refusing to remove his mask and chronic lateness linked to fear and hallucinated voices. However, these were treated as behavioural or disciplinary problems rather than symptoms of a mental illness requiring psychiatric assessment.

By the time of the killing on Oct 14, 2025, the court found that the teenager’s schizophrenia had become severe enough to affect his understanding of reality. Evidence showed that he believed he was in a fictional parallel world and saw the victim as a non-player character rather than a person. He also believed that killing her would transfer her attributes to him and did not understand his actions would end her life. The court found that he was acting under delusions and auditory hallucinations and was incapable of understanding the nature of his act or knowing that it was wrong. The High Court acquitted and discharged him on Sept 14 on grounds of insanity under Section 84 of the Penal Code. He was ordered to be placed at Hospital Bahagia Ulu Kinta for a period subject to the Sultan of Selangor’s approval.

Shorts

1. Penang Bridge rolls out JustGO
   Motorists on Penang Bridge can now pay tolls through JustGO, which uses automatic number plate recognition to identify vehicles and charge the linked payment card. Registered users can use any available toll lane on the bridge, while JustGO is currently limited to designated RFID lanes at Bandar Cassia. Penang residents who register for the service can also receive a 20% toll discount. Users must register their account and vehicle in the JustGO app (get it here) before linking a payment card, with full journey records available in the app.

   Review of the app - in Mandarin but with subtitles:

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2. BIGBANG adds second KL show
   BIGBANG has added a second Kuala Lumpur concert after tickets for its Jan 9, 2027 show sold out in just 25 minutes and 31 seconds. The extra show will take place at TM Stadium Nasional on Jan 10, giving Malaysian VIPs another chance to catch G-Dragon, Taeyang and Daesung together for the first time in more than a decade. VIP Membership pre-sale begins on Sept 24, while general sales open on Sept 29 via Fantopia. Tickets range from RM498 to RM1,598. The concerts are part of BIGBANG’s 20th-anniversary 2026–2027 World Tour.

4. AROUND THE WORLD 🌎

Trump sends mixed signals to Iran
One minute, he was threatening to annihilate Iran, and then another minute, he was having a ‘very good’ three-hour meeting with Iranian envoys (a Qatari mediator helped both sides to talk during the session). That was the mixed message US President Donald Trump delivered around his address to the UN General Assembly on Tuesday. Then, he went on to call for all nations to ‘enforce the complete economic isolation of Iran’.

But is this yet another TACO (Trump Always Chickens Out)? He draws an extreme line, then retreats behind it to get what he wants or completely forgets about it? Iran seems not to have taken the bait and stuck to its stance that the US needs to honour the preconditions that both countries agreed to work on in June. Iran’s military described Trump’s threat as ‘a sign of strategic desperation’.

Now, it’s a matter of who has more to lose. On Trump’s side, his approval rating has dropped to a low of 32%, according to a Reuters/Ipsos poll. What Trump had described as a short-term conflict is now becoming a longer one. And Americans are paying for it at the gas pumps. On Iran’s side, economic damage and citizens’ hardship are in danger of coming to a tipping point.

ShinyHunters said it hacked the FBI and stole data
“ShinyHunters” sounds like the name of a hardcore raid guild in World of Warcraft. But its reputation has certainly turned shinier, as it said that it hacked the US Federal Bureau of Investigation (FBI) and stole data on a huge number of current and former FBI employees. The group targeted the FBI as the agency detailed ShinyHunters’ methods and advised its targets not to pay ransoms back in May 2026.

Here’s the thing. The FBI said that there were ‘claims regarding unauthorised activity affecting FBIjobs.gov and it's currently investigating’ but has not confirmed the hack. Meanwhile, ShinyHunters has posted ‘samples’ of the data that it stole, which Reuters managed to partially match against credit bureau records and previously breached data preserved by dark-web intelligence firm District 4 Labs.

Will Apple’s health tracker whoop Whoop Inc’s smartwatch?
Apple sees the potential of health and fitness as its next engine of growth. It is already developing several prototypes that compete with Whoop Inc’s smartwatches and Oura, the smart-ring maker. Specifically, Apple is developing a screenless health and fitness tracker that has a thin fabric band with a sensor-equipped computing module. It won’t have a screen, so it will not look like the Apple Watch. Even though Apple is still a top seller of smartwatches, Whoop and Oura are growing quickly.

Apple wants to stay ahead of the curve and rather than simply ‘copying’ features from its rivals, it also wants to introduce more AI features into its products. Recently, it introduced a watch that can record audio throughout the day and use AI to generate summaries of the wearer’s conversations and activities. However, Apple’s AI initiatives have not been great so far. At this stage, the health and fitness prototype is still that — a prototype. Apple hasn’t decided whether to release it, and even if it does, the timeline will probably be in 2028. And in today’s technology cycle, that might be too late.

Singapore market moves
Grab at a three-year low as execs buy shares
In 2021, Grab listed on the Nasdaq to raise USD4.5 bil (RM18.36 bil) at a market capitalisation of nearly USD40 bil. Today, it’s only worth USD13 bil, and the share price fell to a three-year low of USD2.74 on Sept 18. So, Grab’s top executives have recently bought more than USD30 mil of company shares this week. Grab CEO Anthony Tan bought more than USD30 mil while President Alex Hungate bought USD867,000.
The recent share price decline can be attributed to Grab’s plans to acquire Atome, a buy-now-pay-later company, which valued Atome at USD2.5 bil. Anthony Tan said, ‘I ⁠have ​put my money where my ​mouth is... I believe in our strategy and our direction.’. Now, time will tell whether Grab will gain.

Softbank-backed Carro could be listing in Singapore
Carro, a used-car marketplace (aka Carsome’s fierce competitor), is considering offering shares on Singapore Exchange’s Global Listing Board. It could potentially be the first company that uses the new dual-listing mechanism that allows it to list both in Singapore and the Nasdaq market in the US. Carro has filed confidentially for an IPO in the US and also submitted paperwork for a Singapore listing as well.

The company could raise as much as USD500 mil (RM2.04 bil) and says that the dual listing will depend on investor demand. Carro needs to prepare only one set of documents for both listings, and both debuts will be aligned. However, the company needs to be at least SGD2 bil (RM6.39 bil) in market value. This might make sense for Carro, as it is headquartered in Singapore with operations across Asia, but it might find that liquidity may be greater in the US markets.

Shorts

1. China’s Yu Zidi takes third gold in Asian Games
   She’s 13 years old and has just grabbed her third gold in the Asian Games. Yu Zidi is a Chinese swimmer who has recently become the nation’s latest sensation. She is now the champion of the 200m butterfly, 200m individual medley, and 400m individual medley. Not only that, she has also set the Asian Games record times for all three events this time around. Eyes are now all on her as the Los Angeles Olympics are just two years away. However, in China, she has gone viral for a different reason. Her struggle with interviews is a hit on social media platforms. Unfortunately, we can’t find one on those platforms, but here’s one where she said interviews were the hardest part of her job.

2. Super El Niño to cause 451,000 deaths?
   The University of Chicago’s Climate Impact Lab has a dire warning for Super El Niño. It projects that it could potentially cause 451,000 deaths around the world. Nigeria tops the list as the most vulnerable with 31,400, followed by Indonesia (19,300) and Sudan (17,600). Meanwhile, the Philippines, Vietnam, Thailand, and Cambodia could see an additional 19,400 deaths. The lab describes this as a ‘postcard from the future’ as they project that the number of extremely hot days is likely to rise by 44% compared to normal years. And the number of excess deaths could be even higher if El Niño extends further into 2027.

5. FOR YOUR EYES 📺

Zoo Day

1. New cat species discovered in over 100 years in South America. Read more here.

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2. Edinburgh Zoo released NSFW photos of 2 capybaras.

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3. Gorilla getting medical checkup at Disney’s Animal Kingdom.

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4. Air badak/rhino drink - a cooling water, considered a Chinese medicine. What’s inside it and how it helps?

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

USD2.29 tril (RM9.34 tril) – That is how much the entire portfolio of the world’s largest sovereign wealth fund, Norway’s Government Pension Fund Global (GPFG), was worth at the end of the first half of 2026. It is managed by Norway’s central bank to preserve and grow the wealth generated from the country’s oil and gas resources for future generations, with the fund holding a small stake in more than 10,000 companies across most countries and industries. At the end of June, GPFG held 174 Malaysian-listed companies worth USD2.66 bil, a drop from the 200 counters it held stakes in worth a total of USD2.8 bil at the end of 2025. The trim in the first half of 2026 coincided with the ringgit’s appreciation and followed aggressive bond-buying in 2025.

67% – That’s how much investment returns account for the value of Norway’s Government Pension Fund Global (GPFG), compared with 24.3% from net inflows by the Norwegian government. Annual investment returns were reported to have begun exceeding net inflows in 2017, according to data from the fund’s manager, Norges Bank Investment Management. This is an example of what strict discipline can do when growing pools of public funds. Comparatively, Malaysia’s intergenerational resource wealth fund, the National Trust Fund Inc (KWAN), is estimated to be worth about RM24 bil at the end of 2025. With the new KWAN Bill 2026 passed, which compels Petronas and the federal government to make annual statutory contributions to the fund, the value of KWAN is expected to double to RM48 bil over 10 years. Assuming the fund doubles every 10 years, KWAN would only breach the RM1 tril mark by 2080, three decades after Malaysia becomes an aged nation by 2048, defined as having 14% of its population aged 65 and above.

RM91.21 mil – The Road Transport Department (JPJ) collected that much through bids conducted for the “H” series Special Registration Number, which it released in conjunction with the 2026 Malaysia Day celebration. This is the final, single-letter series to be issued. Of the total, RM89.27 mil came from the bids, with the remainder RM1.94 mil collected through service fees via the JPJeBid system. 34,664 bidders participated, with 8,223 registration numbers successfully bid on. The number H 1 recorded the highest bid at RM10.78 mil, followed by H 9 at RM4.97 mil and H 3 at RM4.21 mil. The revenue generated from this exercise is expected to be returned to the people through various Transport Ministry and JPJ programmes, including road safety initiatives.

3. IN MALAYSIA 🇲🇾

The money in education
30% Bumiputera equity rule dropped for private education
Private education operators have one less requirement to worry about after the Ministry of Education (MoE) scrapped the rule requiring certain institutions run by private limited companies to have at least 30% Bumiputera ownership. The requirement dates back to a 2006 policy and had raised concerns among tuition centre operators, as those that failed to comply could have risked losing their licences from 2027. The ministry said removing the requirement would bring ownership rules more in line with the education sector today and keep it open to anyone looking to contribute.

Education groups seek clarity over Bumiputera equity rule
However, the decision has since caused some confusion after the Investment, Trade and Industry Ministry (MITI) denied being involved, despite the MoE earlier saying the move followed discussions between the two ministries. Education groups now want the government to clarify who made the final decision and whether the removal has formally taken effect. They also want to know if it applies to new applications, licence renewals and applications already being processed, while calling for clear and consistent instructions for private education operators.

Melaka state elections
Melaka going to the polls!
Melaka is officially heading back to the polls, with its state assembly set to be dissolved on Sept 23 after Governor Tun Mohd Ali Rustam gave his consent. Chief Minister Ab Rauf Yusoh said the decision was made ahead of the assembly’s term ending in Dec, partly to avoid the risk of floods and other natural disasters towards the end of the year. Once the assembly is dissolved, the state election must be held within 60 days. In the meantime, the current administration will continue as a caretaker government to ensure public services continue as usual.

Melaka BN keeps options open on election pact
With the election now on the way, Barisan Nasional is turning its attention to possible partnerships. Ab Rauf said BN will hold negotiations with interested parties before deciding whether to form an electoral pact or contest on its own. No final decision has been made yet, with Ab Rauf saying an announcement will come once negotiations are completed. Earlier, it was reported that PH could join hands with Bersatu. 

PN says seven-seat Melaka offer not final
Discussions over a possible BN-PN tie-up in the Melaka election are already turning to seat allocations, but PAS says nothing has been finalised yet. Everyone wants to keep their options open. PAS President Abdul Hadi Awang’s Political Secretary Mohd Syahir Che Sulaiman said reports that PN could be offered just seven seats should not be treated as a final deal, as negotiations are still ongoing. He said figures being floated at this stage are part of the bargaining process and that both sides are expected to compromise once formal talks progress. Syahir described discussions between PAS and Umno as positive but said any final decision on the number of seats and whether to proceed with the cooperation would rest with the party’s top leadership.

Crime Watch
Minors caught creating and selling explicit animated content
A disturbing news. Police have uncovered a worrying trend involving minors creating and selling animated child sexual abuse material (CSAM) online. Eight children aged between 13 and 17 were among 53 people detained in a nationwide operation, with police saying some of the minors had gone beyond downloading the material and were producing their own animations to sell for around RM50 to RM60 each. The material was shared and sold within small online communities, including through Telegram, while payments could be made using e-wallets and PayPal. Police are still investigating how the children were first exposed to such content, including whether online platforms, social media or AI played a role. Their parents reportedly only found out about their activities after the arrests.

Kelantan police chiefs reprimanded over zero drug arrests
Two police station chiefs in Kelantan have been reprimanded after their stations went an entire week without making a single drug-related arrest. Kelantan Police Chief Yusoff Mamat said seven stations are currently being monitored as part of efforts to tackle drug abuse and trafficking, with their performance reviewed every week. If a station records zero arrests, a special team from the state police headquarters will be sent in and if that team manages to make an arrest, the station chief could be reprimanded. The tougher approach comes as Kelantan has the highest drug abuse rate in the country, recording 1,105 addicts and drug abusers per 100,000 people.

GIC cashes out of Sunway Healthcare
Singapore’s sovereign wealth fund GIC has cashed out of Sunway Healthcare, selling its entire remaining stake for nearly RM1.2 bil. Through its investment vehicle Greenwood Capital, GIC sold 575 mil shares at RM2.08 each, representing about 5% of the hospital operator. The sale comes after a strong run for Sunway Healthcare, whose shares had climbed around 58% since its Mar listing. The stock slipped about 5% to RM2.17 on Tuesday following news of the sale. Sunway Bhd remains Sunway Healthcare’s largest shareholder, controlling more than two-thirds of the company.

4. AROUND THE WORLD 🌎

Iran visits US
Tehran: UN assembly could be bridge for renewed diplomacy
A senior Iranian official ⁠has described the UN General Assembly as the “golden opportunity” to renew diplomacy with Washington, adding that Iran could reopen the Strait of Hormuz to Gulf shipping within days if the US lifts its blockade. Both Trump and Iranian President Masoud Pezeshkian will attend the assembly, but there are no direct meetings planned.

Meeting with the Gulf habibis: Meanwhile, Trump met the leaders of the six Gulf Arab states: Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the ⁠United Arab Emirates yesterday. On the table at the meeting is a Qatari proposal for a framework to bring Iran and the Arab Gulf states into a common security architecture. Generally, the Gulf countries are keen to restore shipping through the Strait of Hormuz but wary of ​giving their longstanding rival Iran too much power.

More economic pressure: US Treasury Secretary Scott Bessent says Iranian airlines could effectively be shut out of international travel, as Washington threatens foreign companies with secondary sanctions if they continue servicing the Iranian carriers. The warning is aimed not just at the airlines themselves, but at the airports, fuel suppliers, ticketing companies and other businesses they rely on to operate abroad. Iran’s aviation industry is now already heavily constrained by years of US sanctions, which have made it difficult for carriers to buy new aircraft and obtain spare parts and maintenance services.

Cambodia holds “scam conference” to showcase anti-scam efforts
Around 20 countries, including the US and China, will join a “scam conference” hosted by Cambodia amid international pressure on Phnom Penh to do more to tackle the multi-billion-dollar online scam industry. An official from Cambodia's anti-scam commission said authorities had so far closed 663 scam sites, including 86 large compounds, and frozen USD300 mil (RM1.22 bil) in scam-related accounts. Cambodian authorities said last month they had arrested nearly 30,000 suspects, including 15 high-ranking officials and law enforcement officers. However, analysts are sceptical about the efforts — the syndicate has adapted and dispersed to smaller locations, and there has been no effort to properly investigate the sites closed, and no interest in actually dismantling the networks.

When sexual predators wear the religious teacher mask
A BBC report has revealed that an Indonesian religious schoolteacher convicted of sexual abuse has been secretly released from prison early. Known as Bechi, the teacher is the son of an influential Islamic religious leader, whose trial sent shockwaves through the country. Bechi was arrested in 2022, but undercover footage has shown that he has been released after serving less than half his sentence. Only one of his several victims pursued a legal case that led to him being convicted. Another came out but then withdrew her allegations due to Bechi’s influential family connections and clout.

Those who testified and were placed under witness protection were never informed of Bechi’s release, although Indonesian law requires it. The commission on violence against women, aka Komnas Perempuan, said that sexual abuse cases that have come to light across Indonesia in recent years may be just the "tip of the iceberg". Students in many schools are unable to report abuse because of inadequate protection mechanisms, and the commission called on the government to strengthen oversight and impose stronger penalties so that religious leaders cannot exercise unchecked power.

Shorts:

1. Nepali children lose parents to flood but legally not orphan
   Hundreds of Nepali children have lost their parents in the devastating floods in Aug, living in shelters and in limbo as they are legally not yet orphans but only “without their parents”. Under Nepali law, a person must be missing for 12 years before they can be declared dead. Although the law offers an exemption from this rule during disasters, relatives need to apply to a district court for what is known as a judicial declaration of death. Sadly, many of them are still “waiting” for mummy and daddy to come home.
   Here’s one way to help: donate to UNICEF disaster relief efforts for the Nepali children.

2. British Columbia sues OpenAI over Tumbler Ridge mass school shooting
   The province of British Columbia, Canada, has filed a lawsuit against OpenAI and CEO Sam Altman, as they seek damages to fund recovery efforts in the province after a mass school shooting tragedy in Feb. The lawsuit also orders changes to the way the company handles ChatGPT conversations that could lead to violence. Apparently, the shooter Jesse Van ⁠Rootselaar had been flagged by the company’s safety team after her conversations (transgender female btw) about gun violence, but the company did not alert police. Altman published a letter saying he was “deeply sorry”, but never really followed through with his promise for reforms.

5. FOR YOUR EYES 📺

Human inventions

1. TIL: The simple bag to puke in is actually patented. More about the patent here.

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2. The chemistry behind bulletproof material, kevlar.

3. Ever noticed that emergency doors open outwards and there’s a horizontal bar? This design came about after a tragic incident In 1883 England, when FOMO amongst 1,100 kids to get candy and toys led them to rush towards the exit (bolted and opened inward), and crushed to death more than 180 children. The panic bar, is also patented.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

341 – The Angels of the Bridge organisation has saved that many lives since 2023, when it began ensuring there were volunteers present 24 hours a day at the bridge over the Parana River in Argentina. The South American country has seen a surge in suicide rates with an increase of 57.6% from 2017 to 2025, with a 22.6% increase from 2024 to 2025 alone. This surge led to bereaved relatives and mental health specialists stepping forward and calling for better awareness about suicide, along with policies and responses for suicide prevention. If you ever feel like you need some help, please know that there are always people willing to lend a hand. Befrienders KL provides nationwide support at their hotline 03-7627 2929, and there’s also the Talian Kasih Hotline at 15999. This is also a reminder to check in on your friends and loved ones.

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8,926 – That’s the number of women found to be involved in drug abuse in Malaysia in 2025, up from 8,638 in 2024. National Anti-Drug Agency Director-General Ruslin Jusoh said that youths aged between 19 and 39 recorded the highest number of cases at 6,193 (69.38%), followed by adults aged 40 to 59 at 2,567 and teenagers at 166. The most widely abused substances were amphetamine-type stimulants, which involved 7,588 individuals, followed by opiates at 762, and cannabis at 138. Ruslin noted that, while women accounted for a lower percentage of cases at 4.7% compared with men at 95.3% in 2025, women often face greater social, financial, and emotional challenges in seeking treatment. To address this, amendments were made to the Drug Dependants and Substance Abusers (Treatment and Rehabilitation) Act 1983, with women able to voluntarily seek community-based treatment under the supervision of rehabilitation officers or at Narcotics Addiction Rehabilitation Centres (Puspen) free of charge, which came into force on Aug 22, 2025.

20 mil – A new report by Unicef estimated that many internet-using children across 21 countries were subjected to sexual exploitation or abuse on digital platforms within a single year. The report estimated that more than one in five children aged 12 to 17 surveyed across Africa, Asia, Latin America and Eastern Europe experienced at least one form of sexual abuse or exploitation online in the year before they were surveyed. About 15 mil were exposed to unwanted sexual content, 9 mil were pressured into sexual conversations or sharing sexual images, and 4 mil had sexual images shared without their consent. The number of children subjected to this abuse globally is “certain to run into many tens of millions”, according to the report. It was also found that almost 60% of reported abuse occurred on social media platforms, while 14% took place in online gaming. Full report here.

3. IN MALAYSIA 🇲🇾

N9 Palace and MB clash over exco
You’re fired: Negeri Sembilan’s royal and political dispute has deepened after Yang di-Pertuan Besar Tuanku Muhriz Tuanku Munawir revoked the appointments of all state executive councillors except Menteri Besar Ismail Lasim. The palace said the decision followed the exco members’ actions and statements on Sept 15, when they declared that Tuanku Muhriz was no longer the state ruler. According to Istana Besar Seri Menanti, the move breached the oath of office the councillors had taken when they were sworn in on Aug 7. The palace cited Article XXXVIII (5) of the state constitution, which states that exco members, except for the Menteri Besar, hold office at the Ruler’s pleasure. Ismail was therefore instructed to submit a new list of candidates to form a fresh state exco.

I’m not fired: Ismail later pushed back against the decision and said the existing councillors remain in office. He argued that the Yang di-Pertuan Besar cannot remove exco members without the Menteri Besar’s advice. Citing Articles 38 and 40 of the state constitution, Ismail said changes to the exco line-up during an ongoing administration should only take effect following his advice or formal request. He also said he had not been consulted over the dismissals and maintained that there was no need to submit a new exco list. According to Ismail, the current councillors remain valid and can continue carrying out their duties.

An interesting analysis of a self-checkmate in this N9 case:

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Prisons Dept rejects ‘money and influence’ claims
The Malaysian Prisons Department has rejected claims by singer-composer Yasin Sulaiman that prison life can depend on money and influence. Speaking on the AididitMyWay podcast, Yasin claimed that inmate hierarchies existed, with some prisoners referred to as “bos” or “taiko”. He also alleged that drugs could be smuggled into prison by those with enough money or influence. If you recall, there were drone attempts to smuggle drugs into prison - 55 cases alone in 2024. Prisons Department senior director of prison policy Mohamad Rosidek Musa said the claims were untrue and did not reflect how the prison system operates. He said prisons follow standard operating procedures, or SOPs, to deal with misconduct and other negative incidents involving inmates.

The department acknowledged that problems can happen inside prisons but said they do not occur to the extent described. Mohamad Rosidek said any breach of prison rules is dealt with according to established procedures, while SOPs are reviewed and tightened regularly.

Durian and paracetamol myth busted
Durian x paracetamol ok: The long-running claim that taking paracetamol after eating durian can be fatal has been debunked. Medical professionals and the Health Ministry say there is no scientific or medical evidence that the combination creates a toxic substance or causes sudden death.

The rumour has circulated for years through social media and family group chats, often warning people that durian and common painkillers such as paracetamol can turn into a dangerous combination inside the body. However, the two do not undergo a chemical reaction that produces a deadly poison. Durian is rich in carbohydrates, sugar and fat, which means the body has more to process after a heavy serving. Paracetamol, meanwhile, is a painkiller and fever reducer that is metabolised by the liver. Taking paracetamol after eating durian does not create a known fatal reaction, although medication should still be taken according to the recommended dosage. Anyone who develops a headache after eating durian does not need to panic about taking paracetamol. Resting, drinking enough water and giving the body time to digest a heavy meal can also help.

Durian x alcohol not ok: There is more reason to be careful when combining durian with alcohol. Durian contains sulphur compounds that can interfere with an enzyme the body uses to break down alcohol. This can contribute to stronger side effects such as nausea, palpitations and a more intense hangover, although the combination is rarely fatal in a healthy person.

Selangor voucher expands to RM8,000 households
The Selangor government has widened eligibility for the Kita Selangor Voucher, or BKS, to households earning RM8,000 or less a month. The programme was introduced under the Selangor Resilience Strengthening Package to help residents dealing with higher living costs and wider economic pressures. The scheme initially focused on more vulnerable groups, including single mothers and heads of hardcore poor households. Eligibility was later expanded to households earning RM5,000 or less, and the latest change raises the income threshold again to RM8,000. Applications must be submitted through the SELangkah app. Applicants whose cases are still under review, those who were previously rejected and those currently appealing will also have their applications reassessed under the new income criteria.

To qualify:

1. Applicants must be Malaysian citizens, registered voters and residents of Selangor.

2. Married couples or single parents must have at least one child aged 18 or younger.

3. Total household income must not exceed RM8,000 a month.

4. Only one person in each household can receive the voucher.

5. Applicants also cannot be active recipients of the Selangor Prosperous Living Aid, or Bingkas, programme.

The wider income threshold means households that previously earned too much to qualify under the RM5,000 limit may now be considered. Those who had already applied do not necessarily need to start from scratch, as pending, rejected and appealed cases will be reviewed again under the revised criteria. More information on eligibility, applications and implementation here.

4. AROUND THE WORLD 🌎

Global politics showdowns in the US
President Xi Jinping to meet President Donald Trump
Second time’s the charm. President Xi Jinping will be making a state visit to the US to meet Donald Trump from Sept 23 to 25, the first in nearly three years. In May, Trump visited Xi in Beijing. Both leaders will be talking about issues such as bilateral ties, world peace and development. Crucially, both sides would want to talk about the extension of the trade war ceasefire negotiated last Oct. The trade truce is set to expire by Nov.

If you recall, China hit back at Trump tariffs with rare earth export controls. Trump responded with a 100% tariff and export controls on critical software, while threatening curbs on Boeing parts. In the end, it seems like both sides came to their senses and struck a trade truce after talks in South Korea.

This time around, Trump will wine-and-dine Xi with a state dinner that includes Apple’s executive chairman Tim Cook and OpenAI CEO Sam Altman. Other issues that could be on the table: Iran war, flows of rare earths and competition in AI. Let’s see how talks turn out this time around.

Bessent’s ‘very successful’ talks with China
US Treasury Secretary Scott Bessent could be trying to reassure investors that all is well between the US and China on the surface. He said that talks were ‘very successful’ with his Chinese counterparts (Chinese Vice Premier He Lifeng and other officials) about issues of AI, trade and investment ahead of the meeting between President Trump and President Xi.

However, AI has become a focal point for both sides recently. US AI companies have accused Chinese AI companies of ‘distilling’ their AI models to train their own. Model distillation uses the output of a powerful AI system to train a smaller model that can perform some of the same tasks with fewer computing resources. Bessent and He plan to meet again to talk about AI and reach a common understanding on goals and threats.

On another note, US AI companies have also raised the alarm to slow the pace of AI development for safety concerns. China’s Foreign Ministry dismissed such moves as ‘fear-mongering’.

Iran heads to New York for UN General Assembly
Perhaps there is hope for some diplomatic negotiations between the US and Iran. Iran’s president, Masoud Pezeshkian will lead an Iranian delegation at the United Nations General Assembly in New York, US. He will address the assembly and present Iran’s position on ‘international developments’, with particular focus on the conflict between Iran and the US.

Furthermore, he will also have talks with the leaders of several countries on the sidelines of the event that will be held from Sept 22 to 26 and on Sept 28. President Trump said he will be open to meeting President Pezeshkian during the assembly. But that might be complicated considering that he told Fox News on Sept 20 that the only options are to ‘wipe out Iran’ or let its economy ‘rot’.

And Iran still wants the US to fulfil its commitments under the June memorandum that included lifting the naval blockade of Iranian ports, easing sanctions, unfreezing Iranian assets, and ending US military threats.

On another note, a mysterious unidentified object with colourful lights was spotted in Iran’s night sky. Some said that it was a ‘kite’ or a classified triangular craft from the US called the TR-3B.

Mbappe ditches Nike for On
Full-time French football player, part-time meme dictator Kylian Mbappe ended a two-decade partnership with Nike and signed with Swiss sportswear brand On. If you remember, Roger Federer famously invested in On in 2019, which helped make him a billionaire in 2025. The financial terms have not been released yet, but On said that the structure includes both cash and equity components.

On has ambitions, as it tries to expand beyond running and tennis and has even brought in former French star Thierry Henry as director of football. Mbappe first signed with Nike back in 2006 when he was just nine years old. Nike also recently lost Spain’s Lamine Yamal to Adidas.

Nike’s foothold still remains strong as it secured an extension to the French national team’s kit-supply agreement until 2033-34. It has also won the contract to become the German national team’s official kit and equipment supplier from 2027 onwards. Nike's share price didn’t move much on the announcement, which was good news. However, On’s share price has outperformed Nike's since 2023 as Nike looks for a turnaround of its business. In 2026 itself, Nike’s share price has been down 40% year-to-date. On’s market cap stands at USD9 bil compared to Nike’s USD52.9 bil.

Reverse charging - EVs to supply power to China’s grid
China is moving fast to have new electric vehicles provide electricity back to the power grid. In Shanghai, a vehicle-to-grid (V2G) discharge exercise reached a peak response capacity of 34,600 kilowatts and delivered 5,857 kilowatt-hours of electricity to the grid on Sept 12. This was the first time privately-owned charging piles provided the majority of the response, supplying 65.7% of the electricity to the grid.

V2G allows vehicles to supply electricity back to the grid when demand rises. State Grid Corp of China estimates that if 10% of the country’s new energy vehicles (EVs) participate by 2030, they could provide up to 86 mil kW of capacity to the grid. However, pricing and settlement rules remain a barrier to wider commercial deployment. V2G participants pay transmission and distribution charges when they charge their EVs, but they are not offset when they feed the electricity back to the grid. They also face high costs in retrofitting chargers for bidirectional (from grid to EV and from EV to grid) operation.

5. FOR YOUR EYES 📺

About our air

1. This time around, why didn’t the rain wash away the haze?

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2. Now it’s a good reason for you to go shopping in a mall for health and respiratory purposes, specifically One Utama.

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3. Asap tebal is not acceptable. Check out more of the art - @annjaafar 

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4. Clear skies in Sydney - that’s Batman, the real Batman, confirmed by police. The Caped Crusader standing on top of Sydney Opera House was a promotional stunt (watch here) by DC and HBO Max to celebrate Batman Day globally on Sep 19 - didn’t know this is a thing. So, it wasn’t Robert Pattinson.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

JPY40 mil (USD250,000 or RM1.04 mil) – Earlier this year, fast food franchise Burger King launched a social media campaign in Japan promising any owners of competitor franchises that much as a reward for converting to a Burger King. The aim was to raise interest in the brand through this “more aggressive stance”, making it seem like Burger King was on the offensive and going for other franchises, with a goal of having 600 franchise locations in Japan by 2028 from 355 as of Jun 2026. However, there are strict franchise restrictions in Japan that make it difficult for shops to switch over right away. As of May, franchised Burger King restaurants made up about 20% of its Japan locations, a lower proportion than competitors such as McDonald’s at 80% and Mos Burger at 90%.

JPY53.2 mil (USD332,000 or RM1.38 mil) – That’s the cost of a single induced pluripotent stem (iPS) cell treatment for heart disease, dubbed RiHEART and developed by University of Osaka startup Cuorips. The treatment involves attaching three thin sheets of cardiac muscle cells derived from iPS cells to the surface of the heart through an opening between the ribs. The sheets then secrete proteins intended to promote tissue repair and improve heart muscle function. This is also the world’s only iPS cell-based product that addresses the needs of patients with severe heart failure, defined as patients who have not benefited from conventional treatments such as medications and surgery.
Learn: What is iPS cell treatment?

1.5% – Tokyo’s office vacancy rate fell to that level in the first quarter of the year as companies increasingly brought employees back to work. This also makes it the lowest among major global cities, compared to 12% in New York, 10.3% in Paris, and 18.5% in Beijing. However, observers noted that slow adoption of AI at workplaces in Tokyo was one of the reasons for the city’s crowded offices. Also noted was that the experience of remote work had led to renewed appreciation among Japanese companies for face-to-face communication and the role of the workplace in training and developing employees. Comparatively, Kuala Lumpur’s office vacancy rate is around 14.8% for the second quarter of 2026.

3. IN MALAYSIA 🇲🇾

Najib Razak gets to WFH serving prison sentence
During the 64th meeting of the Federal Territories Pardons Board chaired by the Malaysian King, Sultan Ibrahim decided to allow former PM Najib Razak to serve the remainder of his six-year prison term at home. However, the house detention is contingent on Najib fulfilling all set conditions, including paying a RM50 mil fine (as context, in the SRC International criminal case, former PM Najib Razak was convicted of misappropriating RM42 mil. This specific amount was directly channelled into his personal AmBank accounts between 2014 and 2015).

In a statement via his counsel, Messrs Shafee & Co. stated that the transfer of Najib’s imprisonment to house arrest ‘does not lie in his own hands’ as a significant part of Najib’s assets, bank accounts and properties remained subject to freezing orders and enforcement proceedings by the government and their disposal was not within his sole control. To help Najib meet the conditions of the conditional pardon, UMNO went crowdfunding and launched a solidarity fund and collected RM1 mil by 9:30 AM Saturday.

What PMX has to say: PM Anwar defended Najib’s right to seek a pardon but, at the same time, denied allegations that he has tipped the scales towards Najib’s end, saying every prisoner had the right to submit an appeal for consideration. PM Anwar added that the prime minister and attorney general could provide advice on the matter, while the power to grant a pardon rested with the Yang di-Pertuan Agong.

What DAP has to say: DAP Secretary-General Anthony Loke will be the only minister from DAP to resign, adding that they are aware of certain parties that are waiting for DAP to leave the government to cause political instability, leading PM Anwar to lose majority in Parliament. Loke said that the party could not accept the decision to allow Najib to complete his sentence in the comfort of his own home.

On related news, Home Minister Saifuddin Nasution Ismail announced that Malaysia still do not have a house detention law, but the proposed House Arrest Act is in the pipeline, which aims to address prison overcrowding, particularly involving remand detainees, who make up a significant proportion of the prison population while awaiting trial. At the moment, we currently have 41 prisons, but the prison population is 93,000. Our prison capacity is 75,000. How convenient is the timing.

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Bersatu x Pakatan Harapan
In politics, there are no permanent friends or permanent enemies, only permanent interests. PM Anwar said that PH election director Amirudin Shari will lead any discussion about possible political cooperation with Bersatu, especially for the upcoming Melaka state election. Bersatu President Muhyiddin Yassin also confirmed that his party is willing to form electoral pacts with partners who share similar ideals. Previously, Bersatu was a core component party of the PH coalition that won the 14th General Election (GE14) in 2018, helping to oust the long-ruling Barisan Nasional (BN) government. Unfortunately, in February 2020, Bersatu withdrew from PH during a political manoeuvre known as the Sheraton Move, which caused the 22-month-old PH federal government to collapse.

The state of AirAsia, according to Tony Fernandes
AirAsia Group Bhd founder Tony Fernandes denied the rumours that Putrajaya is looking to step in to bail out the low-cost airline and even slammed the allegation as 'most ludicrous statement I’ve seen in 25 years’. Fernandes admitted that AirAsia had a tough 2QFY2026, but the public should look at its third quarter numbers, which will show the amount of cash that AirAsia has, proving that it is far away from facing a liquidity crunch.

AirAsia is taking an unusual step by selling its six newly delivered aircraft since the start of last year, including two in July. For context, Airbus has delivered 10 factory-fresh Airbus A321neos since the start of 2025 to AirAsia. The low-cost carrier has since then sold six of them to lessor BBAM LLC. The six planes have then been purchased or leased by Vietnamese start-up Sun PhuQuoc Airways. While airlines regularly execute sale-and-leaseback deals on new planes to replace large upfront purchase costs with regular lease payments, selling aircraft without ever having put them into service is uncommon. A sale-and-leaseback deal is a financial arrangement where an owner sells an asset to an investor and immediately leases it back to keep using it.

AirAsia Group Bhd owner Capital A is facing its own set of problems. The company is to undertake a court-supervised divestment of its 99.56% stake in its financial technology arm BigPay Pte Ltd, an orderly distribution of its 13.6% stake in Tune Protect Group Bhd and recovery of RM32 mil in receivables. Proceeds from its proposed capital structure optimisation exercise would be distributed to creditors, who are primarily Capital A or Capital A-related companies. On the bright side, once BigPay has been divested away, this would strengthen Capital A’s balance sheet and earnings quality.

Shorts

1. Education Ministry to review the tuition centre Bumiputera equity rule

   The ministry issued a statement that it will propose a review of the ownership structure requirements for tuition centres at the Cabinet meeting next week. Under its Private Education Institutions Policy Book published in 2006, it requires all private tuition centres in Malaysia to comply with a 30% Bumiputera equity requirement or risk losing their operating licences starting in 2027. Why do we still need such rent-seeking policy in modern times now?

2. Game of Thrones: Edisi N9 updates

   The Negeri Sembilan state secretary’s office said it would not gazette or implement the disputed April 19 proclamation recognising Tunku Nadzaruddin Tuanku Ja’afar as the new Yang di-Pertuan Besar. State secretary Zafir Ibrahim said that his office accepted the Attorney-General’s Chambers’ advice that the proclamation concerning the position of Yang di-Pertuan Besar was invalid.

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3. Securities Commission plans to ask public-listed companies to submit their El Niño plans

   Securities Commission Chairman Mohammad Faiz Azmi announced that the regulatory body plans to ask public-listed companies to disclose how they are preparing for El Niño amid concerns that the country's businesses may be ill-prepared for the fallout from the weather phenomenon. It was forecast that the country may experience a super El Niño, which will begin in June 2026, and expected to reach peak intensity between October and December 2026, with lingering extreme heat and dry conditions lasting into mid-2027. This situation will negatively impact crop yields and strain water supplies, which is a no-no for key industries such as the palm oil industry.
   Here’s how us as households can prepare:
   

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4. AROUND THE WORLD 🌎

The United States of Denmark & Greenland
Dream come true: Trump, in a Truth Social post has said that Washington has entered into an agreement with Denmark and Greenland that gives the US “permanent control over security and all other needs”, and that it is a “dream come true for the United States of America”. Denmark and Greenland also released a joint statement indicating that the deal is set to be signed during next week’s UN General Assembly session. Trump also announced that plans will begin immediately to build a significant US military footprint in suitable areas across Greenland. Currently, the US already holds nearly total overflight and basing rights in Greenland under a 1951 treaty.

The Danish and Greenlanders seem comfortable: Denmark's Prime Minister Mette Frederiksen is optimistic about the deal, saying that the deal strengthens common security in the Arctic and the North Atlantic area, while recognising the sovereignty of the Kingdom. Greenland’s Prime Minister Jens-Frederik Nielsen echoes the same sentiment, and that the deal “strengthens” the territory’s security.

Good news for NATO: The alliance say that the deal will indeed help stabilise the region and help advance security, stability and cooperation in this “vital region". Analysts say that while full details remain undisclosed, the deal provides an opening to end a standoff that has dragged on for more than a year and a half, and that the most immediate effect is that it diffuses perhaps the most severe sources of internal tension between the alliance.

Trump signs new Russia sanctions, India and China vulnerable
Trump has signed into law a sweeping sanctions package targeting Russia over its war in Ukraine, marking the first major Ukraine-related bill to clear Congress in more than two years. The key provision gives Trump authority to impose tariffs of up to 100% on the five largest buyers of Russian oil and gas - a measure expected to fall hardest on China and India, the top two importers of Russian crude. The bill separately extends sanctions on Iran’s energy and weapons sectors. Supporters of the new bill say that the aim is to starve the Kremlin of the funds sustaining its war effort and push Putin towards negotiations.

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Riyadh attacked by Houthis
Explosions were heard in Riyadh, Saudi Arabia, on Saturday, as firefighters scrambled to extinguish flames on a Saudi oil company Aramco fuel tank near the city’s King Khalid international airport. Residents reported that hours after the alert, they heard what sounded like another round of explosions echoing through parts of the Saudi capital. Yemen’s Houthis claimed that the attack was directed at “sensitive” sites in the Saudi capital with missiles and drones, as a response to Saudi’s hundreds of airstrikes against it in recent days. The fighting between the Houthis and Saudi Arabia has developed as a new theatre of conflict in the wider war that began with US and Israeli strikes against Iran at the end of February.

Why does caffeine hit people differently?
Ever wonder why some people can drink coffee before bed and sleep like a baby, while others lie awake staring at the ceiling? Experts say there are a few factors, including how long caffeine stays in the body, and intriguingly, to some extent, ancestry. A study published this year (view here) revealed that Europeans and South Americans tend to break down caffeine more quickly on average. However, lifestyle and health factors also come into play, such as smoking, antibiotics, contraceptive pills and other prescription medicines, as well as being pregnant. 

Last but not least, it is also a question of tolerance, as regular coffee drinkers become less sensitive to caffeine as the body adapts to the presence of the chemical. While caffeine remains as a safe and by far the most used psychoactive substance in the world, sleep researchers often recommend avoiding caffeine for at least six hours before bedtime to not let it interfere with sleep quality. Good news for coffee lovers: that morning coffee ritual could also be linked to better health outcomes.
Fun fact: More than 2 bil cups of coffee drunk each day. Caffeine doesn’t give body the extra energy - it helps to mask tiredness by blocking the action of adenosine, a chemical that builds up in the brain throughout the day and makes us feel sleepy.

The end of an Era - Warren Buffett ends six-decade reign as Berkshire chair
Warren Buffett announced he will step down as its chairman and become emeritus, effective immediately in a shareholder letter (view here) released on Friday. Warren Buffett, 96, has been with Berkshire since 1965, and is credited with transforming the company from a failing textile company into a USD 1.1 trillion conglomerate while building an investment philosophy that influenced generations of investors and executives. The company has named Howard Buffett (his son) - director since 1993 - as the new chairman. Earlier in the year, Buffett stepped down as CEO. He will remain on the board as a director.

“Father Time always wins. He has, however, been generous with me. He has given me the opportunity to see Berkshire reach a point where I am confident than ever about what lies ahead” - Warren Buffett

Timeless advice on kindness from Buffett. “It’s costless, but priceless” and that the “cleaning lady is as much as human being as the Chairman”.

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5. FOR YOUR EYES 📺

PSA

1. The emergency numbers you need to know.

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2. What plastics can and can’t be recycled. TLDR: Triangle with 1, 2, 4 and 5 - can. No number, and got triangle with no number - throw away.

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3. Watching a wingsuit flight is exhilarating enough. Watch this flying so close to the road. Hope this wakes you up.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

130 bil tokens – OpenAI used 10,000 concurrent agents and that many tokens’ worth of compute to solve a 90-year-old set of mathematical formulas that can predict how liquids and gases move. The formulas were so complicated that the Clay Mathematics Institute offered a USD1 mil (RM4.04 mil) prize to any mathematician who finds the solution. OpenAI admitted that finding the solution required a lot of resources, with its coordinating AI agents sending 2.7 mil messages over 88 hours to reach a resolution, with verification taking another 17 hours. The 130 bil output tokens alone would cost about USD6.5 mil at OpenAI’s average consumer price, according to an LLM evaluator on X. Including the implied “trillions of input tokens”, the total could reach between USD10 mil and USD40 mil. OpenAI’s claimed solution has also drawn criticism after mathematicians Tristan Buckmaster and Levent Alpöge raised questions about how OpenAI used their related research data to train its models. Buckmaster’s statement on the matter can be read here.

9.28% – According to the Energy Commission, data centres account for that much of Malaysia’s total electricity consumption. Power demand from data centres is also expected to increase in the fourth quarter, as there are a few data centres that are expected to come online or become operational in Nov. According to Energy Commission CEO Siti Safinah Salleh, there will be no specific limits on electricity usage by data centres, as approvals were based on the power system’s available capacity.

SGD3.6 mil (RM11.44 mil) – The Singapore Parliament has accepted the recommendations of an independent committee to sharply increase ministerial salaries, with the Prime Minister’s salary to reach that amount annually (about SGD300,000 a month), while a junior minister would now earn up to SGD1.8 mil (RM5.72 mil). However, the increase will start with a one-off adjustment of up to 9%, with any further increases dependent on a minister’s individual performance and responsibilities. Current PM Lawrence Wong will also be donating the full increase in his salary to charity over the next five years, totalling about SGD1.4 mil. Even before the increase, Singapore’s ministers were already the highest-paid in the world, with a junior minister earning SGD1.1 mil (RM3.49 mil) annually and the Prime Minister earning SGD2.2 mil (RM6.99 mil). These salaries have remained unchanged since 2012, when pay was cut by 36% to address public concern. High ministerial salaries remain a sensitive issue among Singaporeans, where the median monthly income as of 2025 was SGD5,775.

3. IN MALAYSIA 🇲🇾

NS Game of Thrones continues
After his executive councillors (EXCO) issued a statement to dethrone the incumbent Yang di-Pertuan Besar, the Negeri Sembilan Menteri Besar Ismail Lasim went further to nudge the alleged keris of betrayal by instructing the state secretary to proceed with gazetting the removal of Tuanku Muhriz Tuanku Munawir as Yang di-Pertuan Besar, despite the Dewan Keadilan dan Undang (DKU) saying the state executive council has no jurisdiction to determine the ruler’s position.

For those who missed the story, previously, the EXCO’s announced that Tuanku Muhriz’s removal in Apr was legitimate and that Tuanku Nadzaruddin Tuanku Ja’afar was the new ruler of Negeri Sembilan. Then, in response, the Negeri Sembilan Council of the Yang di-Pertuan Besar and the Ruling Chiefs (Dewan Keadilan dan Undang; DKU) reaffirmed that Tuanku Muhriz is still the rightful ruler and even accused the EXCOs’ action as an act of treason and attempted a coup d’etat to the sitting ruler. DKU is an advisory body on customary affairs and the appointment and removal of the Yang di-Pertuan Besar.

Economy Minister: Middle East conflict impacting your electricity bills
Economy Minister Akmal Nasrullah said that the global energy supply disruptions that started with petrol have now shown a lagging effect, which spreads to natural gas and coal. In return, disruptions in natural gas and coal supply have started to impact the cost of electricity generation. FYI, natural gas and coal generate about 55% of the electricity globally, and roughly 80% of Malaysia’s electricity needs. The impact of higher electricity generation costs is felt especially by households that use more than 600 kilowatt-hours (kWh). At the moment, 600 kWh is the cutoff threshold for government electricity subsidies. Once a household crosses this line, they lose their ‘subsidy shield’. They are hit with a triple financial penalty, which includes higher base tariff rates, the full Automatic Fuel Cost Adjustment (AFA) surcharge, and, of course, the 8% SST on top of the bill.

Fortunately, PM Anwar Ibrahim announced that Putrajaya will raise the electricity bill protection threshold for domestic consumers from 600kWh to 800kWh per month, until the end of the year. Under the revised measure, domestic consumers using up to 800kWh a month will be exempted from the Automatic Fuel Cost Adjustment (AFA), retail charges, and sales and service tax (SST).

Shorts:

1. Malaysia now has a new MyKad
   NexG Bhd, the producer of the new MyKad, announced that the new identification card is the world’s first to combine biometric QR identity verification with an optional digital eWallet. The eWallet component is an optional value-added service, being provided at no cost to the government or citizens as part of its 27-year partnership with the government. In related news, Home Minister Saifuddin Nasution Ismail added that the new MyKad comes with about 50 additional security features. You can see more in the video here.

2. Putrajaya to give Sarawak RM1.5 bil interim special grant
   During the Malaysia Day celebration, PM Anwar announced that Sarawak will receive an increased special grant of up to RM1.5 bil this year, far higher than the RM600 mil Kuching received last year. The special grant formula from Putrajaya to Sarawak is still being finalised, and Sarawak Premier Abang Johari Openg suggested it should be between 5% and 10% of federal revenue. In 2024, the federal revenue is roughly RM312 bil, so 5 - 10% would work out to something between RM21 bil to RM31 bil. That is more than ten times the RM1.5 bil Sarawak is about to receive this year. That’s a hard meet-in-the-middle negotiation.

3. Piranha in Pahang?
   Fisheries director-general Adnan Hussain stated that there is no evidence that a piranha population has established itself in Klau Dam, Pahang, despite claims that a piranha was allegedly caught there. He said that the fish caught had characteristics consistent with the Pygocentrus genus, which includes piranhas. However, the department said it could not conclusively identify the species as there was no physical specimen available for examination. He added that the public need not panic as there is no further evidence that a piranha population is brewing in Klau Dam.

4. AirAsia stocks are not flying anytime soon
   AirAsia Group Bhd fell on Thursday to the lowest in nearly four years, as much as 14 sen to 50 sen. Shares of AirAsia have lost more than 70% of their value since the year began as the airline grappled with soaring jet fuel prices amid the prolonged Iran War. As of Sept 17, the company has a market capitalisation of under RM1.7 bil. Previously, it was rumoured that Putrajaya had asked Malaysia Airlines and Batik Air whether they could absorb AirAsia’s domestic market share.

4. AROUND THE WORLD 🌎

In the US
US Fed raises rates to tackle skyrocketing inflation
The US Federal Reserve has raised interest rates for the first time since 2023, citing the need to combat inflation that has been "too high" for "too long" in the country. The Fed's Federal Open Market Committee voted unanimously to raise rates by 25 basis points to between 3.75% and 4.00%. The vast majority of Fed policymakers indicated that at least one more rate hike was likely necessary before the end of the year, according to their Summary of Economic Projections (SEP). Trump is not happy - he called it "a raise against Trump" and accused the Fed's rate-setting committee – which he called "hostile" – of making decisions for political reasons. Meanwhile, US households and businesses have been battered by years of higher-than-target inflation, and prices have surged in the wake of Trump's war on Iran, his signature tariff policies and the ongoing AI boom.

Amazon's Project Mercury could reshape how America shops
Amazon is set to roll out a billion-dollar expansion of its same-day delivery operations - codenamed Project Mercury. The project will widen its fulfilment network to more than 1,000 locations by 2031, an increase of more than tenfold from the roughly 85 facilities the company operates today. Amazon internal planning documents show that the project would place same-day delivery hubs within 10 miles of 80% of the US Prime subscribers. The project is believed to reshape how Americans shop for everyday items such as fresh food, paper towels, and cough medicine. Currently, Walmart is the one dominating the valuable market, but it now sounds like Amazon is catching up real fast.

Ed Sheeran: No more Mr Nice Guy?
Ed Sheeran exudes a simple persona and “everyone is welcome” public image. However, this week, Sheeran was the undisputed bad guy as the world erupted over his decision to drop fellow musician Macklemore from his tour opening act. This came after the rapper made a speech saying, "Free Palestine" and showing images of the destruction in Gaza. Macklemore was originally criticised by Pink, who said Macklemore’s anti-genocide speech was an attack on Jewish people.

Sheeran said the decision was made by the promoters, after they were contacted by billionaire owner of the New England Patriots, Robert Kraft, who owns one of their next venues. Kraft is also a long-time supporter of Israel and was implied to have asked for Macklemore’s removal or for the artist to stop opposing Israel during the tour. Not long after Sheeran’s statement, all of Sheeran’s support acts and even his own band pulled out of the remaining shows, voicing solidarity with Macklemore and free speech.

Sheeran, in his statement, said he was not complicit and that he never uses his professional platform for politics. But fans were quick to point out his many involvements before: Sheeran once wore a "justice for Grenfell" T-shirt at Wembley Stadium in 2018 after the Grenfell Tower fire, played the Concert For Ukraine in 2022, and recorded a protest song about the Ukraine war with U2 earlier this year.

Sheeran was called out by his supporting acts, Miss Rachel, Greta Thunberg, Kneecap, Kehlani, Bob Vylan, and a bunch of other public figures. He has lost over 200,000 followers on Instagram within the first 48 hours of his statement.

Should have handled it better, Sheeran. Saw this comment: Sheeran was too scared to end his stadium contracts, so he ended his career instead.

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Shorts:

1. Japan set to tighten prostitution laws
   Japan is planning to amend its decades-old prostitution legislation, following a recommendation from a panel of legal experts to punish solicitors instead of just the sex workers. Currently, street sex workers face fines or imprisonment for public solicitation, but their customers face no punishment, making Japan different among developed countries. The panel calls for the abolition of this “asymmetry”, with some campaigners demanding a “Nordic model” that decriminalises selling sex while criminalising paying for it. Besides, the concept of free will in sex work is a myth given that compounding difficulties like poverty, trauma and disability push many women into the trade.

2. HIV plagues Fiji
   The Pacific country of Fiji has declared a national HIV crisis as it grapples with the spread of the virus through sexual transmission and illicit drugs. An estimated 1 in 60 adults is infected with HIV, with new diagnoses surging to 2,016 cases in 2025 – 16 times the level recorded in 2019. Two in every 100 pregnant women carry the virus, and of the 59 babies born with HIV in 2025, 18 died before their first birthday. The government said it was expanding access to free HIV testing, prevention services and treatment and is receiving external support from Australia, New Zealand, India, the Global Fund and the United Nations.

3. NASA discovers new massive Moon crater
   A NASA researcher has discovered a massive, newly formed crater on the Moon through NASA’s Lunar Reconnaissance Orbiter (LRO) camera, believed to be the largest new crater ever discovered in the solar system. Scientists said that the occurrence only happens "once in a century or even longer”, and it was probably created in the spring of 2024 from a comet or asteroid colliding with the Moon. While the Moon has numerous bigger craters, researching a crater's formation in real time can help build understanding of the Moon's geology. See image here.

5. FOR YOUR EYES 📺

Protect your kids, nephews, nieces, grandkids, friends’ kids

1. Sex education - but for parents. In this digital age, you can never prevent your child from coming across porn.

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2. Safety awareness: Kids and escalators don’t go well.

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3. Not an image, but a read on the recent judgement of the teen who was acquitted of murder. Written by a doctor who worked at the country’s largest psychiatric hospital, Hospital Bahagia Ulu Kinta, Perak. A bit heavy to end the week, but it’s good to set emotions aside to understand the process more. Have a good weekend folks!

Dr Ong Lieh Yan 精神心理日记 Psychiatrist

With the recent judgement given in one of the hottest cases in the country, many people are wondering: Why is the person sent to a mental institution instead of prison? And can he be released after...

www.facebook.com/drongliehyan/posts/pfbid02UEUADCqgoQDHWeNYw5X5MDweqzZ5aEtyLMq6GxsNkGex9giBmy7Sn4oNh5DLQJAEl

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

RM243 mil – According to Religious Affairs Minister Dr Zulkifli Hasan, Tabung Haji allocated that amount to provide targeted Haj Financial Assistance (Hafis) for the 1448H/2027 season. Haj fee for B40 group will remain at RM15,000 per person, with Hafis covering RM18,300 or 55% of the total cost. For M40 pilgrims, the fee has been set at RM23,500 per person, with Hafis covering RM9,800, about 29% of the total cost. T20 pilgrims will be required to pay the full cost of RM33,300. The total fee of RM33,300 has been maintained for four consecutive years. Dr Zulkifli credited Tabung Haji, which set aside RM243 mil for Hafis for the season, for managing cost increases through efficient governance without compromising service quality despite inflationary pressures and geopolitical conflicts in the Middle East. Actually, the only credible threat is from within.

RM2,500 – That is the asking price per sq ft of an almost 11,000 sq ft parcel of land, known as Lot 530 in Jalan Jati in the heart of Kuala Lumpur, which has been put on sale via a tender exercise. This puts the price of the lot at about RM27 mil. Notably, previous such transactions in the area ranged between RM2,000 and RM2,300 per sq ft as recent as 2023. The lot is owned by Faber Crest Sdn Bhd and is located close to Bukit Bintang and only a five-minute drive from Tun Razak Exchange (TRX). The land had previously secured a development order for a 10-storey serviced apartment scheme comprising 31 units, which suggests planning parameters that could support a boutique high-rise residential or hospitality-type project. This tender exercise comes at a time when the area has been feeding off the Bukit Bintang area’s transformation due to the Bukit Bintang City Centre project.

CNY30,000 (RM18,000) – The Tianmeng Scenic Area at Wenlv Yimeng Mountain in the province of Shandong is looking to recruit a “cloud observer” to work at an altitude of 1,001.2m. The main duties of the cloud observer include documenting weather conditions and autumn scenery, producing at least one short video daily and taking several high-resolution photographs. The position also comes with free accommodation and meals. Applicants will be assessed based on their photography and content creation skills as well as their health and stamina, as they will have to live at the mountain summit for an extended time. This is not the first such recruitment in China, as the Laojun Mountain Scenic Area in Henan province has previously done the same for CNY60,000 (RM36,000). Sadly, the application period for the Tianmeng Scenic Area closed on Sept 9. View of the place is amazing, though.

3. IN MALAYSIA 🇲🇾

Muhyiddin case takes a turn
Muhyiddin acquitted of four charges: Former PM Muhyiddin Yassin has been fully acquitted of four charges linked to Bukhary Equity involving RM200 mil. The charges comprised one count of abuse of power and three counts of money laundering. Prosecutors had asked the Kuala Lumpur High Court for a discharge not amounting to an acquittal, or DNAA, but did not give a reason for withdrawing the charges in court. High Court judge Noor Ruwena Md Nurdin instead granted Muhyiddin a full acquittal on Sept 15, noting that no witnesses or evidence relating to the four charges had been presented.

Muhyiddin had been accused of abusing his position as PM and Bersatu President to solicit RM200 mil from Bukhary Equity for the party, with the same funds forming the basis of the three money-laundering charges. His trial is not over, however. He still faces three abuse-of-power charges involving RM25.3 mil in alleged gratification linked to the Jana Wibawa programme.

AGC says continuing posed litigation risks: A day after Muhyiddin was acquitted of the four Bukhary Equity-related charges, the Attorney General’s Chambers explained why prosecutors had decided not to continue with them. The AGC said the decision followed an assessment of the evidence, whether the charges could be proven and how continuing with them could affect the broader case.

Why the charges were dropped:

• Continuing with the Bukhary Equity-related charges could weaken the prosecution’s overall strategy and make it harder to prove the remaining charges.

• Prosecutors reassessed the available evidence, including whether it would be admissible in court and whether the charges could realistically be proven.

• The credibility of witnesses and the possible impact on other proceedings were also considered.

• The AGC stressed that withdrawing the charges did not mean they had been brought without basis or that the transactions under investigation had not taken place.

His time in court isn’t over yet. His trial will now continue on the three remaining Jana Wibawa-related abuse-of-power charges.

Colorectal cancer is hitting younger Malaysians
Colorectal cancer is no longer seen only as a disease affecting older adults, with more young Malaysians now being diagnosed, including people under 40. Many cases in younger patients are also being detected at a later stage, when treatment becomes more complicated. One reason is that symptoms can be mistaken for less serious conditions such as haemorrhoids, irritable bowel syndrome or dietary problems. Warning signs include persistent rectal bleeding, blood in the stool, changes in bowel habits lasting several weeks, unexplained abdominal pain, weight loss, fatigue and iron-deficiency anaemia. These symptoms do not always mean cancer, but persistent or recurring signs should be checked by a healthcare professional.

Colorectal cancer often develops slowly from precancerous polyps in the colon or rectum. These can sometimes be detected and removed during a colonoscopy before they become cancerous.

Risk factors include diets high in processed and red meat, low fibre intake, obesity, physical inactivity, smoking, excessive alcohol consumption and inherited conditions such as Lynch syndrome. A family history of colorectal cancer can also raise a person’s risk. Healthy habits, including regular exercise, maintaining a healthy weight and eating more high-fibre foods, can help reduce risk.

Government might be helping AirAsia to ‘fly’
Malaysia’s government has reportedly asked Malaysia Airlines and Batik Air whether they could absorb some of AirAsia’s domestic routes and passengers as part of contingency planning around the airline’s financial pressure. Reuters said the discussions have increased in recent weeks and involve the Finance Ministry and Malaysia Airports Holdings Berhad. AirAsia says it holds about 40% of Malaysia’s overall aviation market and around 60% of domestic flying. Malaysia Airlines and Batik Air were reportedly open to expanding their own operations, but taking over AirAsia’s operations on a large scale would also require access to its aircraft leases.

AirAsia has been hit by higher jet fuel costs amid the US-Israeli war on Iran, as well as foreign-exchange losses. The airline reported a RM831 mil net loss for the second quarter and had current liabilities of RM18.4 bil as of June 30. Reuters also reported that AirAsia owed Malaysia Airports at least RM500 mil, although the airline did not address that figure directly. AirAsia is now seeking up to USD1 bil from international debt markets and RM700 mil in local credit facilities to restructure its debt. It has also been cutting weaker routes, returning 25 older aircraft and renegotiating contracts. AirAsia said its financing plans are sufficient and that it remains focused on maintaining stable operations across its network.

Shorts:

1. Indonesia wildfires could burn into Nov
   Indonesia’s most intense wildfires in 11 years could continue until early Nov as super El Niño delays the rainy season. Fires have been burning across Borneo and Sumatra, while wildfire-related respiratory illnesses in seven provinces more than doubled to 113,336 between Sept 1 and Sept 9. The haze has also affected Malaysia and Singapore. Indonesia has deployed more than 50 aircraft for water bombing and cloud seeding, with Japan sending three CH-47 Chinooks to assist.

2. U Mobile’s 5G push deepens losses
   U Mobile’s FY25 core net loss widened 163% to RM595 mil as its 5G rollout pushed up network costs and depreciation. Even so, the telco continued to gain ground, with mobile service revenue rising 5% and its market share increasing to 17.4%. Capital expenditure surged to RM1.23 bil as network expansion accelerated. Mawar Setia became U Mobile’s largest shareholder in Mar with a 50.2% stake, while ST Telemedia’s holding fell to 20.7%.
   You might be interested with who are U Mobile’s shareholders.

4. AROUND THE WORLD 🌎

Global Geopolitics
Drones to Makkah - Saudi’s ‘red line’ retaliation against Houthis in Yemen
The civil war in Yemen is taking another turn. The Saudi Arabia-led coalition in Yemen accused the Houthis of targeting the holy city of Makkah. The Houthis denied the attack and called it a ‘lie’. Saudi Arabia has said that “The security of the Two Holy Mosques and the pilgrims is a red line, and the Joint Forces Command of the Coalition will not hesitate to take the necessary and deterrent measures against the Terrorist Houthi Militia”.

Currently, there are two factions in conflict in Yemen - a ‘government’ faction that originally ruled Yemen, who are now backed by Saudi Arabia, and the Houthis, backed by Iran, who now occupy most of Yemen’s northwest and the capital, Sanaa. The Houthis have recently started attacking Saudi ships that pass through the al-Mandeb Strait in the Red Sea. And the group’s lightning offensive last week saw them taking control of the entirety of Yemen’s Red Sea coast and the al-Mandeb Strait, specifically the Mocha and the island of Mayyun.

Europe courts Canada to become an associate member of EU
Trump will not be happy. That’s because European Commission President Ursula von der Leyen is proposing Canada to become the European Union’s (EU) first associate member. She said to Canadian PM Mark Carney, “I would like to work with you on opening the door for Canada being the first associate member of the European Union.” Von der Leyen is also discussing closer cooperation with Canada on manufacturing, tech, defence and energy, but Canada’s biggest priority would be to conclude the ratification of CETA, the EU-Canada Comprehensive Economic and Trade Agreement, an accord that was negotiated a decade ago but still has not been approved by 10 European countries.

According to data from Statistics Canada, Canada’s exports to the European Union from Jan to Jul make up about 5% of its total exports. Not surprisingly, the US is still the biggest market for Canada at 68% of total exports. So, Canada might want to diversify its export destinations as relations with the US deteriorate.

US says it has weapons in space
The US is taking the arms race to new heights … literally. It has, for the first time, confirmed that it deployed a space weapon in Earth’s orbit. US Secretary of the Air Force Troy Meink said that the ‘orbit weapon’ was necessary to protect US forces against ‘hostile enemy action’. However, he did not elaborate further, and not much is known about the US’ capabilities in space.

Dr Bleddyn Bowen, from the Royal United Services Institute (RUSI), said he was ‘totally guessing’, but he thinks that the US might be referring to ‘some kind of electronic warfare or radio jamming platform’. China responded, ‘We urge the US side to stop expanding its military capabilities and preparing for war in outer space’ and warned against an ‘arms race’ in space.

Iron Man has such a technology.

Dealmakers making moves
Grab acquiring Atome in USD
Well, it's buy-now-expand-now for Grab, as it agreed to buy 60% of Atome Financial, a buy-now-pay-later platform Atome for USD1.5 bil (RM6.07 bil) from Advance Intelligence Group. Grab also agreed to purchase the remaining 40% after the current transaction closes under a performance-linked framework tied to Atome’s EBITDA and revenue.

Atome is now valued at between USD2 bil and USD4.5 bil. Grab is doubling down on its financial services bet by expanding its buy-now-pay-later products to the Philippines, Indonesia and Thailand through Atome, saving time and costs on building up its own credit models. Grab projects that its loan book will grow to over USD6 bil by 2028 with Atome and cites that synergies could be found by using its three digital banks to lower the cost of funding for Atome’s assets.

ByteDance - from dancing videos to drug making
ByteDance’s main business? TikTok. The Chinese social media giant spun off its AI drugmaking unit, Anew Labs, and raised USD290 mil (RM1.2 bil) for it. Anew is now valued at USD1.5 bil, with participating investors such as HSG (formerly Sequoia China), IDG Capital, Hillhouse Investment, 5Y Capital, Gaorong Ventures, Primavera Venture Partners, Boyu Capital, SBP Group and Shanghai Industries Fund. ByteDance said that Anew Labs follow a different industry logic and management approach than the group. And ByteDance will maintain a 56% stake in the company after the fundraising.

Japanese monks turn to investments as inflation hits
Donations ain’t enough for cash-strapped Japanese monks. They are now turning to the financial markets to make ends meet for their temple and spend on maintenance and needed repairs. Fewer people are donating to temples as higher inflation in Japan means that households’ daily costs have increased. About half of temples bring in less than JPY4 mil (RM105,625) per year, according to a 2021 survey of 7,000 temples. Koukyo Yoneta, a fifth-generation Buddhist priest, invested in US Treasuries, Japanese REITs, and stocks such as BYD and Hyundai that returned more than 10% annually. This helped him to cover USD162,000 (RM655,225) in needed repairs and also expand renovations for the temple. Yushi Kono, a deputy priest for Daian-ji temple in Nara prefecture, said that ‘There is an inherent contradiction in our position. In principle, monks should not engage in profit-making activities. But if we do not take any action now, the temple could cease to exist.’

5. FOR YOUR EYES 📺

Respect the hustle

1. Losing vision is one of the worst physical disabilities one can experience (temporarily gone through it). Independence, mobility and daily functions profoundly impacted. The fighting spirit to keep going, no matter what. If you in Brickfields, sapot sikit.

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2. Prisons Department’s MyPRIDE programme that helps prisoners post-prison life. You can shop their online store here. Recidivism rate for those who go through this skills training is at 0.3%, as compared to 16%. Impressive.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

68 – That’s how many governments the country of Italy has seen over the past 80 years, which means each government served an average of 1.18 years (about 431 days). The longest-serving premier was the late tycoon Silvio Berlusconi, who held the top spot across four terms. However, the supporters of PM Giorgia Meloni’s government can now celebrate a new record – her party now leads the country’s longest-lasting government since WWII. However, while Meloni’s Brothers of Italy party claims newfound political stability, some experts believe that a government’s longevity is not a sign of political stability, due to Italy’s fragile economy, lacklustre growth, mounting debt, and dangerous social policies against the right to protest.

223cm – That’s the height of Chinese teenage basketball player Zhang Ziyu, who towered over opponents at the Women’s World Cup. Her age? 19. Some videos of her games here. In a sport where height matters, Zhang already stands taller than NBA great Shaquille O’Neal, who stands at 216cm tall. Even the official website for the Women’s Basketball World Cup described her as “epically tall”, but off the court, she is still “just a little girl”, according to her teammate Han Xu. Both Han and US superstar Caitlin Clark believe she still has room to grow as a player, but both warn against placing too many expectations on the teen. Living proof of that Chinese saying about how there will always be a higher mountain…

199cm (19.2 hands) – A Shire horse named Hugo, who lives in Towcester, Northamptonshire, has entered the record books as the world’s tallest living horse, measuring that much from the ground to his shoulders. The previous record for the tallest and heaviest horse was held by a Shire gelding named Sampson, later renamed Mammoth, from Bedfordshire in 1850, with a height of 219cm. However, Hugo still has room to grow, as the four-year-old horse still has “three years of growing left”. Hugo is given a huge amount of care, receiving regular massages, dentist visits every six months, constant vet checks, and treatments from a chiropractor. View Hugo here.

Take a break

ALT Asset (SC-regulated fund management company) is looking for an intern or entry-level hire with a STEM background.

Someone who likes numbers, probabilities and thinking in odds - and wants to apply those skills to the investment world. Doesn’t matter if you know little of investments.

Sounds like you, or know someone suitable? Pls do make an intro. Forward them this email, or reply here. Thanks!

Let’s continue.

2. NUMBERS AT A GLANCE 🔢

68 – That’s how many governments the country of Italy has seen over the past 80 years, which means each government served an average of 1.18 years (about 431 days). The longest-serving premier was the late tycoon Silvio Berlusconi, who held the top spot across four terms. However, the supporters of PM Giorgia Meloni’s government can now celebrate a new record – her party now leads the country’s longest-lasting government since WWII. However, while Meloni’s Brothers of Italy party claims newfound political stability, some experts believe that a government’s longevity is not a sign of political stability, due to Italy’s fragile economy, lacklustre growth, mounting debt, and dangerous social policies against the right to protest.

223cm – That’s the height of Chinese teenage basketball player Zhang Ziyu, who towered over opponents at the Women’s World Cup. Her age? 19. Some videos of her games here. In a sport where height matters, Zhang already stands taller than NBA great Shaquille O’Neal, who stands at 216cm tall. Even the official website for the Women’s Basketball World Cup described her as “epically tall”, but off the court, she is still “just a little girl”, according to her teammate Han Xu. Both Han and US superstar Caitlin Clark believe she still has room to grow as a player, but both warn against placing too many expectations on the teen. Living proof of that Chinese saying about how there will always be a higher mountain…

199cm (19.2 hands) – A Shire horse named Hugo, who lives in Towcester, Northamptonshire, has entered the record books as the world’s tallest living horse, measuring that much from the ground to his shoulders. The previous record for the tallest and heaviest horse was held by a Shire gelding named Sampson, later renamed Mammoth, from Bedfordshire in 1850, with a height of 219cm. However, Hugo still has room to grow, as the four-year-old horse still has “three years of growing left”. Hugo is given a huge amount of care, receiving regular massages, dentist visits every six months, constant vet checks, and treatments from a chiropractor. View Hugo here.

3. IN MALAYSIA 🇲🇾

Judgment day for teen boy; former minister charged
Teen acquitted of murder on insanity: The 15-year-old boy accused of killing a female student at a secondary school in Bandar Utama last year has been acquitted after the High Court found that he was legally insane at the time. The teenager had been charged with murdering his schoolmate in a female student toilet. His identity remains protected because he is a minor, while the entire trial was conducted behind closed doors. Judge Adlin Abdul Majid ordered the teenager to be placed at Hospital Bahagia Ulu Kinta in Perak for a period to be approved by the Sultan of Selangor. His lawyer said the court accepted the defence under Section 84 of the Penal Code after finding that the teenager was of unsound mind when the killing took place.

The court also accepted evidence from a consultant forensic psychiatrist at Hospital Bahagia, who diagnosed the teenager with severe and aggressive schizophrenia. According to the testimony, the condition caused him to lose his sense of self, believe that he was a god and hear voices giving him instructions. The teenager will now receive treatment at Hospital Bahagia, with his lawyer saying recovery is expected to take time.

Many are upset with this ruling. But, things are not always black and white and the situation points to bigger problems, to systemic issues that the younger ones are experiencing today. Read the testimony from the defence psychiatric expert.

Jamil Khir faces three Tabung Haji charges: Nothing black and white here. In a separate case, former minister Jamil Khir Baharom has pleaded not guilty to three charges of allegedly misappropriating nearly RM861 mil in Tabung Haji property. The former Minister in the PM’s Department, who was responsible for Islamic affairs, is accused of misappropriating funds involving Saudi company Al Rawda Investment for Real Estate Development and Projects Management. The first charge involves nearly RM43 mil allegedly transferred on Apr 3. The second concerns RM288.17 mil on Dec 14, 2016, while the third involves RM529.19 mil on Aug 17, 2017. All three alleged offences are said to have taken place at Jamil Khir’s ministerial office in Putrajaya. He has claimed trial to all three charges under Section 403 of the Penal Code.

Jamil Khir was granted RM300,000 bail with one surety and surrendered his passport to the court. He had earlier been remanded over investigations into Tabung Haji’s lease of two properties, one in Makkah and another in Medina, following a Royal Commission of Inquiry into the fund. His case comes shortly after former Tabung Haji chairman Abdul Azeez Abdul Rahim was charged with a separate graft offence linked to construction company Putrajaya Perdana.
Learn: What is surety?

Home fertility kits face scrutiny
Artificial insemination kits sold online are drawing scrutiny from Malaysia’s Medical Device Authority, or MDA, over concerns about safety, proper use and whether some products are legally registered. Often marketed as cheaper and more convenient alternatives to fertility treatment, the MDA warned that using them without medical supervision can bypass important health screenings and infection controls. Home insemination is different from clinical intrauterine insemination (IUI). Home kits generally place semen in the vaginal canal near the cervix, while IUI involves processed sperm being introduced directly into the uterus by a healthcare professional.

The MDA said poor hygiene, contamination or incorrect use could lead to infection, vaginal irritation, discomfort or minor injury. There is also a risk that users may delay seeking medical advice for underlying fertility issues. Furthermore, the MDA also warned sellers against offering unregistered medical devices on e-commerce platforms. Under the Medical Device Act 2012, medical devices sold in Malaysia must be registered, while advertisements must meet legal and regulatory requirements.

Registered =/= risk-free
Some home insemination products are already registered as medical devices in Malaysia. However, the MDA stressed that registration does not mean a product is completely risk-free. It means the manufacturer has demonstrated compliance with requirements covering safety, performance, risk management, quality systems, labelling and intended use.

GXBank gets RM21 mil boost for MSME lending
GXBank has secured up to USD4.95 mil (RM21 mil) in first-loss coverage from the International Finance Corporation (IFC), to support more lending to underserved micro SMEs. The bank said the partnership could support a loan portfolio of up to USD110 mil. It’s like some form of insurance, to put it simply - what this means is IFC will absorb the initial losses on eligible loans, giving GXBank more room to lend to so-called thin-file businesses that may not have strong credit histories or traditional collateral. The bank also said the arrangement could reduce the amount of risk-weighted capital needed for covered loans under Bank Negara Malaysia rules, giving it more balance sheet capacity to expand automated lending.
Learn: What is risk-weighted capital? - It’s an interesting financial concept. In short, it means each asset although equal in value, is treated or measured differently for the purpose of capital assessment.

GXBank said around 15,000 MSMEs have already opened digital accounts, with more than 5,000 loan drawdowns recorded so far. Since Mar, it has also approved RM27 mil in facilities backed by Credit Guarantee Corporation Malaysia. At the same time, the bank has raised its maximum credit limit for growing businesses to RM350,000 from RM150,000. It has also completed a proof of concept with fintech start-up Finory to automate the onboarding of micro-traders using local authority business licences, making it easier for smaller businesses to access financing digitally.

4. AROUND THE WORLD 🌎

Trump tai chis high oil prices to Zelenskyy
The art of the deal has turned into an art of distraction. Trump is now calling for Ukrainian President Zelenskyy to stop hitting Russian diesel infrastructure. The logic is that the current shortage of diesel fuel in Russia is hitting the global markets as well. As a result, Americans are now facing higher diesel fuel prices. Last Friday, diesel prices hit an all-time high of USD6.06 (RM24.51) per gallon, compared to USD3.71 per gallon a year ago. He said the increase in the price of diesel “isn’t done by the Middle East, this is done by what’s happening with Russia and Ukraine”.

However, this does not align with what’s happening in the global oil markets. Crude oil prices crossed USD100 per barrel last week, and this was due to the US-Iran conflict intensifying.

Trump might be looking to shift attention away from the conflict in the Middle East, which has not gone well. That has hurt his approval ratings in the polls as the US prepares for the mid-term election. According to The Economist, his approval rating is only at 35%, with most voters putting inflation/prices and jobs & economy as the most important issues for them.

All About SEA-blings
Six killed, 130 missing in capsized Indonesian ship heading to Banjarmasin
Tragedy again on the high seas of Indonesia. The passenger ship Virgo Transport 8, carrying 243 passengers and crew, lost contact with its operator on Sunday and was capsized en route from Surabaya to Banjarmasin, a port in Borneo. It faced rough weather on the Java Sea, and its last location was about 150 km away from Banjarmasin. View incident here.

Currently, 107 people have been rescued, with 130 missing, and six confirmed dead. Rescue operations are underway but are difficult, with 2.5-meter waves hampering the operation. There is no cause for the sinking yet, and authorities are still investigating. If you remember, there was a fire on a ferry sailing between Bali and Lombok that killed one person and left five missing last month. And in Jul, a boat carrying 74 people sank near Selayar, a small island south of Sulawesi. According to the National Transportation Safety Committee, there were 190 major maritime transport accidents between 2015 and 2025, resulting in more than 787 deaths.

Singapore considers chemical castration for sex offenders
It seems like Singapore might be considering the stick approach to sex offenders. And a very big stick too. Senior Minister K Shanmugam said that Singapore is open to considering chemical castration to tackle sex crimes if there is clear evidence that it is effective in reducing crime.

Chemical castration is a drug-based method to reduce sex hormones and suppress libido or sex drive. However, at the current stage, the evidence is inconclusive. Punishment for sex offences is heavy now, according to him, with rape or penetrative sexual assault of a minor under the age of 14 carrying a jail term of between 8 years and 20 years with a minimum of 12 strokes of the cane. Outrage of modesty against a minor under the age of 14 is punishable with up to five years’ jail, a fine and caning.

In Malaysia, experts are also now debating this. Criminologist Dr P. Sundramoorthy said that chemical castration could be considered for high-risk offenders but should not be regarded as a ‘cure’. Meanwhile, senior lawyer Mohamed Haniff Khatri Abdulla said that Malaysia’s existing laws are sufficient to deal with sexual offences and that chemical castration is not necessary.

In South Korea, the government has enacted a law that allows the use of chemical castration on convicted paedophiles as far back as 2011. In 1952, Alan Turing (Yes, THE Alan Turing that was played by Benedict Cumberbatch, who cracked the Enigma code during World War 2) was convicted of homosexual acts and opted for chemical castration rather than prison. Two years later, he was found dead from cyanide poisoning.

Philippines’ Bangsamoro votes for first parliament
Is peace finally here? Voting is now underway in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) in southern Philippines. About 2.3 mil people are eligible to vote, with an expected 80% voter turnout. There will be 80 parliamentary seats, which, after being elected, will then appoint the region’s chief minister. This is a crucial step towards self-governance after the Muslim-majority region went through decades of rebellion and violence. Since the 1970s, about 150,000 people have died in the conflict. And lots of violence is still ongoing - shooting and bombing.

The Bangsamoro region was established under a peace deal brokered by Malaysia in 2014 where the largest Muslim rebel group (MILF - Moro Islamic Liberation Front, not the MILF you are thinking of) gave up its goal of a separate Muslim state in the south of majority Catholic country in exchange for broader autonomy. The area has been governed by former guerrilla leaders under a transition period that ends with the first regular elections on Sep 14.

Latham & Watkins going DIY for AI systems
If you can’t beat them, join them. But Latham & Watkins, a US multinational law firm, took this another way. It is now buying up Nvidia’s graphics processing unit (GPU) clusters to customise its own AI models, rather than relying on AI service providers. If you can’t beat their computing power, buy your own. In recent years, it has purchased several servers, which hold multiple GPUs. It wants to keep its clients’ sensitive data entirely within its own systems, instead of on other service providers’ cloud.

With its own GPU stacks, it can potentially run AI loads without sending clients’ data to a legal AI vendor, model provider or hyperscaler. However, this requires a lot of initial capital expenditure spending to build up the required infrastructure. Latham is the US’ second-largest law firm, which generated USD8.3 bil (RM33.6 bil) in revenue last year.

5. FOR YOUR EYES 📺

Survived, surviving, survival

1. US declassified videos of the rescue of 2 of its pilots behind enemy lines in Iran back in Apr. One of the pilots involved has gone on CBS News’s 60 Minutes programme to speak about their ordeal. Real-life movie. Sure Hollywood going to seize this opportunity. Starring Matt Damon perhaps? Full interview here.

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2. Some survival tips. Not beneficial now, but when you somehow find yourself in this situation, comes handy. Just like insurance.

3. Survive financially - how much insurance needed? Advice from Mr Money.

Happy holiday! Survive Wednesday, see you Thursday.

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

187,484 – According to Bangladesh’s Directorate General of Health Services, that’s the number of measles infections recorded since an outbreak began in Mar, with at least 1,002 children dead due to the disease. The US Centers for Disease Control and Prevention said that this is the largest outbreak of measles in the world. Investigations by the WHO and UNICEF linked the crisis to gaps in the country’s immunisation programme due to the political turmoil that followed the ousting of then-PM Sheikh Hasina, when changes to procurement policy created a vaccine shortage. While a nationwide emergency vaccination drive vaccinated 18 mil children in April, official figures show about 4 mil were never reached, meaning herd immunity was not achieved. This also comes as Bangladesh is dealing with a surge in dengue fever cases, with more than 45,000 people admitted for the disease, further straining hospitals. Nearly 1 in 3 children of every 1,000 children infected with measles will die from it - read more here.

Almost 100% – That’s how much of Nepal’s electricity comes from hydropower, which is how the recent flood disaster could knock out more than 10% of the country’s total power generation capacity when it severely damaged 12 hydropower plants in the Trishuli River basin. This is yet another blow to the country, as it managed to export hydroelectricity to India and Bangladesh to earn nearly USD200 mil (RM814.1 mil) each year before the disaster. While hundreds more hydropower plants are either being constructed or are in the pipeline now, in addition to the country’s 225 existing facilities, the state-owned Nepal Electricity Authority has acknowledged that it may be time to “rethink” the hydropower policy, as climate-related disasters were becoming more frequent.

USD4.78 bil (RM19.46 bil) – Nepal estimates that the reconstruction bill after the floods on Aug 26, 2026 will come to that much, according to the country’s foreign ministry. The catastrophe claimed the lives of more than 1,400 people, with 5,600 still missing, including 55 Malaysians. Nepal’s PM, Balendra Shah, will address the UN General Assembly later this month to draw the attention of the international community to the “repeated loss of life and property Nepal has had to face, due to climate change and the disasters created by it”. While the exact cause of the glacial collapse that triggered the floods remains unclear, climate change is causing glaciers to melt worldwide, increasing the risk of such disasters.

To those affected by this disaster, we offer our deepest condolences.

3. IN MALAYSIA 🇲🇾

Putrajaya agrees to more seats for East Malaysia
PM Anwar Ibrahim announced that Putrajaya agrees to increase the proportion of parliamentary representation for Sabah and Sarawak beyond the current level, in line with the spirit of the Malaysia Agreement 1963 (MA63). However, there is one caveat. PM Anwar said that when MA63 was drafted and signed, the agreement was that Singapore, Sabah and Sarawak, as a collective, would control one-third of the Parliament. Obviously, without Singapore in the picture, the proportion would be lower, but the ratio for Sabah and Sarawak would, on purpose, be higher than the current state. The final mechanism would be formulated by the Election Commission (EC).

EC will conduct a review of electoral constituency boundaries, subject to amendments to the Federal Constitution (2/3 majority votes required in Parliament), in line with the announcement by PM Anwar. The last major federal electoral boundary redelineation for Peninsular Malaysia was completed in March 2018, just before the 14th General Election. For other regions, the last reviews took place in Sarawak in 2015 and Sabah in 2017.

Another UMNO General Assembly, another round of rhetoric

UMNO President Zahid Hamidi dares PM Anwar to kick his party out of the government
In playing his cards to nudge for a snap election, UMNO President Ahmad Zahid Hamidi played a game of truth or dare with PM Anwar to eject UMNO from the unity government or call for election. The taunts by Zahid were not surprising as he intends to continue Barisan Nasional (BN)’s momentum after winning the state elections of Johor and Negeri Sembilan. Speaking during the UMNO general assembly, Zahid told some 3,000 delegates that the current unity government exists only because of UMNO’s backing. Quite a full-circle moment for UMNO, as just not so long ago, UMNO was the bruised partner that PM Anwar rescued in 2022.

UMNO opens ‘widest doors’ to PAS
This is for holding a one-million strong Muslims gathering to promote Malay-Muslim unity. Not a political cooperation yet, but all signs are pointing to it. After the 2018 general election, UMNO and PAS entered a short-lived political cooperation called Muafakat Nasional and were part of the federal government led by Muhyiddin Yassin, followed by Ismail Sabri Yaakob between March 2020 and October 2022. The UMNO-led Barisan Nasional coalition later switched support to Pakatan Harapan and formed the unity government after the 15th general election in November 2022. PAS delegates, led by PAS Secretary-General Takiyuddin Hassan, also attended the UMNO general assembly.

Shorts

1. BYD scrapped Tanjung Malim plan

   The largest manufacturer of electric vehicles, BYD, has dropped its plan to build a vehicle assembly plant in Tanjung Malim, Perak. However, the EV manufacturer is still committed to starting local completely knocked-down (CKD) assembly operations. Previously, BYD reconsidered its Tanjung Malim plans after terms set by the Ministry of Investment, Trade and Industry (MITI) called for up to 80% of cars produced in Tanjung Malim to be exported, while the remaining 20% of production would need to be priced above RM200,000 per unit. In May, BYD was reportedly considering a contract assembly partnership with Sime Motors’ Inokom plant in Kulim, Kedah.

2. DBKL reiterated that its walkway dining policy is not new

   Kuala Lumpur City Hall (DBKL) said that allowing eatery operators to place tables and chairs on walkways is not a new policy, but an enhancement of guidelines established in 2017. It has given approval for operators to put tables and chairs on five-foot walkways with a RM30 monthly permit per table and chair. But a DBKL spokesman added that parking bays are unauthorised areas for placing tables and chairs because their primary function must be maintained for public parking.

3. Malaysia is seeking direct and visa-free travel to Russia

   PM Anwar announced that direct flights and visa-free travel between Malaysia and Russia could be the next major steps. Both measures were also discussed during his bilateral meeting with Russian President Vladimir Putin in New Delhi. Malaysia and Russia have maintained longstanding diplomatic relations since 1967, with cooperation spanning trade and investment, energy, education, tourism and defence. The last time a scheduled commercial airline operated a regular, direct route between the two countries was in the early 2000s, when Russia's national carrier, Aeroflot, used to fly directly between Moscow and Kuala Lumpur. That route was cut due to commercial considerations.

4. Another public holiday for Selangor

   State Secretary Dr Ahmad Fadzli Ahmad Tajuddin stated that Shah Alam has declared October 26 as a replacement public holiday in Selangor, in conjunction with the 25th anniversary of the reign of the Sultan of Selangor, Sultan Sharafuddin Idris Shah. The actual date will be on October 25, but because it is a Sunday, the following day, Monday, Oct 26, has been declared a replacement public holiday.

4. AROUND THE WORLD 🌎

Saudi Arabia shuts critical oil pipeline after drone attack
A drone, reported to have been launched from Iraq, has attacked Saudi Arabia’s critical East-West oil pipeline, a 1,200km conduit stretching across the Arabian Peninsula, leading to a temporary closure. The closure has halted the flow of Saudi oil exports, which have become a critical artery for Saudi’s oil exports, especially since the closure of the Strait of Hormuz.

Higher oil prices?
The pipeline has been moving 4 to 5 mil barrels of oil per day (bpd) in recent months, accounting for 4 to 5% of global supply. The capacity has increased specifically to help mitigate the disruption to Saudi oil exports in Hormuz. Now, with the disruption to oil movement, the global energy market is expected to suffer more as US diesel prices hit an all-time high and Brent crude oil – the global benchmark – currently costs more than USD104 per barrel. Analysts say that the key buffers have been worn away, and that the attacks could cause a crisis for the global community. The next 48 hours will be crucial to see if it remains a contained incident or another major regional escalation.

Super El Niño phenomenon, super dengue outbreaks
The arrival of El Niño doesn’t just mean warmer weather and increased air conditioning bills. In tropical countries like Malaysia, it also means elevated risks of dengue outbreaks. Scientists who track dengue fever say that El Niño remains one of the most valuable multi-month climate signals and data available to public health. 

Increased Pacific Ocean temperatures mean hotter, drier conditions in Southeast Asia and Australia, and wetter conditions in parts of South America and East Africa. Aedes mosquitoes thrive in warm temperatures, making them live longer and allowing the dengue virus to replicate faster. Meanwhile, more rainfall brings more collection of water that becomes perfect breeding grounds. Elak air bertakung, remember?

A major study published last year in Nature Communications provided a staggering revelation - El Niño-related temperature changes could explain about 63% of the year-to-year variation in dengue cases. For every 1°C rise in a key Pacific Ocean temperature index, dengue cases increased by 48%. It also showed the outbreaks are growing exponentially, with each event bigger than the last. The signal is clear, and scientists are calling out for us to act.

Anthropic calls for “AI slowdown”
Anthropic CEO Dario Amodei has made a new appeal for the AI industry to “slow down” (OpenAI Sam Altman and SpaceX Elon Musk concurred with this), and has offered a three-part plan for doing so. He also added that Anthropic is willing to “unilaterally” commit to the first of the steps. Amodei wrote a post on social media linking an essay titled “We Must Pace the Frontier” that describes how Anthropic would provide “third-party evaluators with permanent, employee-level access to our systems, so that they can verify adherence to our safety measures, report on incidents, and assess models’ alignment during training”.

The post came after a former Anthropic researcher warned that AI could precipitate human extinction by 2030, and after Anthropic published a threat intelligence report (report below, TlDR here) with examples of the most notable and novel threat activity they have identified to date. It included possible scenarios of AI model usage by criminals, state-sponsored groups, spyware vendors, scientists and propagandists. Anthropic even stopped a bad actor in Malaysia on a disinformation campaign.

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Shorts

1. Buddhist monk violated celibacy, suspect in USD3 mil embezzlement

   A 66-year-old Buddhist monk has been arrested on suspicion of embezzling THB100 mil (USD3 mil) from his monastery in the ancient capital of Ayutthaya. He was caught alongside a suspected woman accomplice who assisted him in the embezzlement, and who is also his sex partner. He has allegedly pocketed donations meant for the temple on more than 20 occasions over two years, and has violated his celibacy vows as a monk. Thailand continues to be plagued with reports of monks breaking their vow of celibacy, trafficking drugs and committing financial crimes. The action here - NSFW.

2. Micron Taiwan vs union: Workers to get 68 months of pay

   That’s like working 1 year, and get paid nearly 8 years’ worth. Micron Technology has announced that its staff in Taiwan would receive bonuses equaling 35 to 68 months of pay for fiscal 2026, with minimum cash compensation of TWD1.7 million (USD 53,809.39), as the US chipmaker contends with an ongoing labour union dispute. However, the Taoyuan union said that it has yet to reach a consensus with Micron and that it is still seeking to change the company's rewards system that would allocate 15% of operating profit to employee bonuses.

5. FOR YOUR EYES 📺

1. Still half awake on a Monday? What if you wake up to this? Camping on a wall.

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2. A rare POV of inside a bus that fell off a bridge in China. No casualties were reported.

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3. Comedian Jimmy Carr on dealing with heartbreaks. Sometimes, his replies are more of a philosopher’s than a comedian’s.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

GBP2.5 mil (RM13.77 mil) – That’s how much the football from Diego Maradona’s ‘Hand of God’ goal at the 1986 World Cup sold for at auction. The ball was kept by Ali Bin Nasser, the referee of that quarter-final match between Argentina and England, for more than 30 years. He also verified, alongside independent authentication, that there was only one ball used throughout the match. The referee sold the ball in 2022 for GBP1.74 mil. A specialist auctioneer from auction house Heritage Auctions in the US said that the ball was “arguably the most significant soccer item that exists”. Notably, the ball was expected to fetch closer to GBP7.3 mil at the auction.
Fun fact: This is the same ball that Maradona later scored the “Goal of the Century” with. Check out the two goals (the other goal is legendary) here:

10 games – Argentina midfielder Leandro Paredes was banned for that many games for the role he played in on-field clashes after Argentina lost 1-0 to Spain in the 2026 World Cup final. His teammate Nahuel Molina was also issued a 7-match ban. Not only that, Argentina have also been ordered to play their next two home matches with stadium capacity capped at 50%, with the Argentine Football Association also fined USD321,000 (RM1.31 mil) for breaches of the Fifa disciplinary code relating to using a sports event for demonstrations of a non-sporting nature, team misconduct, and discriminatory chants and gestures by its supporters. Fifa also ordered that USD100,000 of that fine be invested in a plan to combat discrimination. The non-sporting nature demonstration portion of the fine was due to several Argentina players holding up a banner claiming Argentine sovereignty over the Falkland Islands, a British overseas territory, after Argentina defeated England 2-1 in the World Cup semi-final.

GBP3.49 bil (RM19.21 bil) – Premier League clubs broke their all-time summer transfer record for the second year running with that much spent. The previous record, made 12 months ago, was GBP3.14 bil. A total of GBP506.5 mil was spent on deadline day itself, up from GBP391 mil last year. The total amount spent during this year’s transfer window also considerably dwarfs the GBP1.13 bil spent by clubs just 5 years ago. This summer also saw 3 of the 10 most expensive signings in the history of football, with Enzo Fernandez’s move from Chelsea to Manchester City for GBP125 mil being the headline move and coming in 5th in the Top 10. The other two were when Chelsea paid GBP117 mil to sign Morgan Rogers from Aston Villa, and when Manchester City spent GBP116 mil to sign Nottingham Forest midfielder Elliot Anderson, coming in 7th and 8th respectively in the Top 10 list. The record for highest transfer fees ever paid remains when Paris St-Germain paid GBP200 mil to Barcelona to sign Neymar.

3. IN MALAYSIA 🇲🇾

TH crisis, fertiliser debacle and the 1MDB scandal
Former minister to be charged over the Lembaga Tabung Haji (TH) crisis
The Malaysian Anti-Corruption Commission (MACC) confirmed on Thursday that Jamil Khir Baharom, who served as Religious Affairs Minister under former PM Najib Razak, will face three charges next week for misappropriating assets linked to TH. Five people have been charged in the TH RCI probe so far: a former Deputy GM of Construction and a former Security and Health Manager at TH Properties Sdn Bhd, a former TH Chairman, Alam Maritim Sdn Bhd's CEO and a former TH COO.

More bigwigs may be called regarding fertiliser supply delay
MACC Chief Commissioner Abd Halim Aman said that his agency is prepared to summon the relevant minister and ministry secretary-general if necessary to assist in its investigation into delays in the supply of fertiliser to about 60,000 padi farmers in Kedah. MACC added that, according to its preliminary investigation, an appointed company managed to fulfil only 54% of its order for 2026 Season 1 as of Sept, or only 333,655 of the 616,015 bags of fertiliser required.

Southeast Asia’s biggest lender DBS Bank in 1MDB-linked lawsuit
Liquidators of four companies linked to recovery efforts in the multibillion-dollar 1MDB scandal - Blackrock Commodities (Global), Platinum Global Luxury Services, Affinity Equity International Partners and TKIL Global Investments - are suing DBS Bank for USD1.03 bil (RM4.19 bil). In response, DBS rejected the claim by the liquidators and said it would fight it vigorously. DBS Bank is not the only bank that faced lawsuits or legal actions connected to the 1MDB scandal. Key banks sued or facing lawsuits:

• Standard Chartered Bank: Faced a USD2.7 bil lawsuit in Singapore brought by liquidators representing shell companies (Alsen Chance Holdings, Blackstone Asia Real Estate Partners, and Brightstone Jewellery). The Singapore High Court allowed the case to proceed to trial after dismissing the bank's attempt to strike it out.

• Deutsche Bank (Malaysia) Bhd: Sued by the 1MDB fund in a Malaysian court, which claimed USD1.1 bil in alleged losses.

• J.P. Morgan (Switzerland) Ltd: Sued by 1MDB in Malaysia for an estimated USD800 mil. Case dropped.

• Coutts & Co Ltd: Sued by 1MDB in Malaysia for about USD1.03 bil. Case dropped too.

In a separate event, the Malaysian Civil High Court has decided that all 171 plaintiffs had succeeded in their action against P Tech Resources Sdn Bhd, its Singaporean directors Wang Jing Chao, 41, and Yap Yoke Liang, 43, and lorry driver N. Maridass, 42, for their involvement in the toxic waste dumping that polluted Sungai Kim Kim. As for the next step, the court will fix a date for the assessment of the damages from the illegal dumping that resulted in 947 people requiring treatment. A total sum of RM33 mil in damages is sought by the plaintiffs.

Just how bad is this toxic pollution - read here.

Why OKM left DAP?
Speaking on the latest episode of the Keluar Sekejap podcast, former Bangi MP Dr Ong Kian Ming revealed that the cracks in his relationship with DAP began to unravel after an influencer shared slides from a private briefing in which he predicted Pakatan Harapan would suffer a major defeat in the Johor election. Ong added he had no malicious intent when he made the prediction, just wanted to point out the fact that the political wind was blowing very strongly against PH and DAP. To make things worse, no DAP leader had reached out to question his predictions or ask how his analysis could help the party prepare for future state or general elections. This knee-jerk reaction from the party has led him to decide to leave DAP. Ong resigned from DAP on Aug 31, after being a member of the party since 2012.

Shorts:

1. Gamuda doing well in Australia
   Gamuda Bhd has secured its third Sydney Metro contract, specifically the Sydney Metro West – Parramatta Integrated Station Development project, with the station works valued at about RM2.54 bil. Gamuda Land Australia will also participate in the over- and adjacent-station property development. Other than that, Gamuda Bhd has also delivered the M1 Pacific Motorway extension to Raymond Terrace: Black Hill to Tomago package for Transport for NSW (TfNSW) ahead of schedule. The project is Gamuda’s first road project in Australia since the company set up its base in Down Under back in 2019.

2. MITI launched eSaham 2.0
   Bumiputera investors will now have a better experience in purchasing Bumiputera IPO share allocations after the Investment, Trade and Industry Ministry (MITI) has launched eSaham MITI 2.0. MITI Minister Johari Abdul Ghani said the new system eliminates manual processing, allowing companies and investors to register and manage applications online. The public will be able to access eSaham MITI 2.0 on Sept 18.

3. Super El Niño will toast us in 2027
   The Malaysian Meteorological Department (MetMalaysia) expects temperatures in several parts of the country to exceed 40°C in 2027, driven by a Super El Niño phenomenon. MetMalaysia director-general Dr Mohd Hisham Mohd Anip said that the peak of the extreme heat was expected to coincide with the equinox period around Mar to Apr 2027. Coincidentally, the timing overlaps with the fasting and Hari Raya period - yikes. Previously, the highest daily temperature ever recorded in the country was 40.1°C in Chuping, Perlis, during the Super El Niño phenomenon of 1997/1998.

4. AROUND THE WORLD 🌎

USD5k for each American, from Trump
President Donald Trump, whose grip over the Republican Party remains absolute, delivered a lengthy keynote speech during the opening of the Republican midterm convention yesterday. Here are four key observations and takeaways:

1. The old-style Republican establishment was nowhere to be seen, offering a reminder of just how much the party has changed. The vast arena was instead filled with Trump loyalists - the MAGA.

2. Trump offered to pay every adult US citizen USD5,000 (RM20,330) if Republicans win both chambers of Congress. There are nearly 270 mil American adults, which means the payout would cost the US government some USD1.3 tril. When is it a bribe, when is it not a bribe?

3. Trump acknowledged that Americans may have to wait a while longer to see relief from high fuel prices, again arguing that short-term economic pain caused by the war in Iran was worth it.

4. Trump said he is still in charge and not in a hurry to give up the spotlight, although it is unclear how the party would perform when his name is not even on the ballot in the midterm.

Note that the Democratic Party is aiming to take control of one or both chambers of Congress in the Nov 3 midterms. Currently, Trump’s Republican Party maintains slim majorities in both. And Trump also said that the Iran war would end immediately after the midterm elections. Will this really happen?

Tech
d
The big Apple drop has finally arrived - the flippable smartphone, iPhone Duo, debuted to the world yesterday. The long-awaited phone bears a book-style foldable that opens to a 7.6-inch inner display and has a 5.4-inch outer screen, letting users run two apps side by side. The device features four cameras: one on the outer display, another dedicated for FaceTime on the inner display, and a 48-megapixel Fusion camera and 48-megapixel ultra-wide camera on the rear of the device.

Apple is not the first company to build a foldable phone - rival brands like Samsung and Huawei, as well as several Chinese phones, also have them. But they have not really captured much in the overall smartphone market. Even if Apple delivers 6 mil iPhone Duos before the end of the year, that would only increase foldables’ share of the smartphone market to just 25%. So, will the iPhone Duo soar? Only time will tell.

Check out the official price for the iPhone Duo in Malaysia 😮‍💨:

• 256GB – RM9,499

• 512GB – RM10,499

• 1TB – RM12,499

• 2TB – RM15,499

Finally, some kind of protection from Meta glasses
A Polish software developer has developed an aptly-named app, “Zuckoff”, that could detect the presence of recording Meta glasses nearby. The solution came after he was “spooked” by videos of people being recorded without permission by creepy strangers. The app came at the right time - many are expressing dislike toward the “covert” use of the tech, while the company embarks on a PR blitz to calm those who fear for their privacy. Although the company says that the camera is designed to be noticeable through a built-in LED light, it does not mean that it is safe from being tampered with. The app uses Bluetooth signatures broadcast by smart glasses to indicate its presence to the users instead of relying on indicators. Quite brilliant - check it out here.

Britain to push tech companies to block nude images on kids’ devices
The British government is planning to introduce legislation that will require technology companies like Apple and Google to stop children from taking, sharing or viewing nude images on their phones and tablets. The government did give Apple and Alphabet-owned Google a three-month deadline in June to introduce such measures voluntarily, but neither has comprehensively blocked the taking and sending of nude selfies so far. Although the companies seem to commit to child protection, Culture Secretary Lisa Nandy said that it is still insufficient. Britain has strict online child safety protections, although the current rules mostly apply to services and platforms rather than devices.

Shorts:

1. Mubadala takes minority stake in Luckin Coffee for USD1 bil
   Abu Dhabi sovereign wealth fund (AUM of USD380+ bil) Mubadala Investment Company has agreed to make a significant minority investment in Luckin Coffee, China’s largest coffee platform, alongside Centurium Capital in a transaction valued at about USD1 bil (RM4.07 bil). Luckin Coffee, founded in 2017, operates more than 36,000 stores globally and had close to 500 mil cumulative transacting customers as of June 30.

2. Baby orangutans found in Indian forest
   Five baby orangutans were discovered in a forest in Odisha, India, far away from home, sparking questions about how they ended up there, as orangutans are not native to India. Investigators are examining whether they have been trafficked into the country by an international smuggling network that probably uses the state highway to move the orangutans. Orangutans, only native to Indonesia and Malaysia, are critically endangered, and their trade is prohibited under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) - the global agreement governing trade in endangered wildlife.

5. FOR YOUR EYES 📺

One-of-a-kind Sports Event - World Nomad Games

1. World Nomad Games (Aug 31 to Sep 6) in Kyrgyzstan (a country btw, view map here) is an international sports competition dedicate to ethnics sports practised in Central Asia. 104 countries participated. Think Robin Hood kind of sports. Rugby but on horseback with goat carcass. Tug of war. Sheep bone tossing. The opening ceremony is epic!

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2. Highlights of the event. More here.

3. And here’s our Malaysian athlete shooting arrows whilst riding a horse.

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Impress with this trick. All good, until someone tries it. Happy Weekend!

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

USD30,000 (RM121,335) – That’s how much Handshake AI (site here) is willing to pay contributors for professional “high-quality written documents” that they already own and are authorised to share. The AI firm will pay accepted candidates USD6 per page for up to 50 documents, each of which may contain up to 100 pages, up to the limit of USD30,000. To qualify, applicants should have worked in fields such as consulting, finance, legal, software engineering, and data science. However, slide decks and presentations are generally not eligible, as the firm is looking for written text, like Word documents and PDFs. This comes as the AI industry’s hunger for training data continues to grow, with AI training firms willing to pay for data.

USD99 bil (RM400.4 bil) – Chipmaker Nvidia, led by CEO Jensen Huang, held that much in equity investments as of Jul 2026, which included about USD48 bil in publicly traded stocks and other marketable securities, about USD48 bil in shares of private companies and other non-marketable securities, and about USD3 bil in equity-method investments. The portfolio was built from virtually nothing in just two years, having surged 45-fold from USD2.2 bil two years ago. The firm also reported a further USD25 bil in equity investment commitments as of Jul 2026. Some of the names in Nvidia’s portfolio include Intel, SpaceX, CoreWeave, and Nokia.

USD1 bil (RM4.04 bil) – OpenAI reported that ad sales on ChatGPT have reached an annualised revenue run rate of that amount in less than 200 days, with the AI firm calling advertising one of the pillars of its diversified business model, alongside consumer subscriptions, enterprise offerings, and usage-based APIs. The milestone also comes as OpenAI is looking to attract investor interest ahead of its upcoming IPO. While ad revenue now makes up “a material share of the business”, the decision to introduce ads in ChatGPT was controversial. OpenAI CEO Sam Altman had also previously voiced discomfort at the idea of AI advertising, having thought of ads as “a last resort for a business model” for OpenAI.
Learn: What is annualised revenue run rate?

3. IN MALAYSIA 🇲🇾

Sarawak’s flying doctor tragedy
Final mission ended in tragedy: Five people were killed after a Flying Doctor Service (FDS) helicopter crashed near the Long Lellang STOLport (short take-off and landing airport) in northern Sarawak on Sept 8. The BO-105 aircraft had departed from Miri and was carrying a pilot, a medical officer, an assistant medical officer and two nurses, all travelling on official duty. The helicopter was serving remote communities through stops at Ba Lai, Long Siut and Long Lellang when it crashed near the end of the airstrip at about 3.40pm. Authorities later confirmed that everyone on board had died.

Locals had warned about the haze: Before the team left Long Siut for Long Lellang, locals had reportedly urged them not to continue flying because of poor visibility. A Facebook user said her mother spoke to one of the doctors while the crew rested and the helicopter was being refuelled. According to her account, the doctor acknowledged that the haze was bad but said the team had already promised to meet people at their next destination. The same hazy conditions later affected the rescue response, with helicopter support unable to reach the crash site.

Rescue hampered by remote terrain: Long Lellang is around 310km from Miri and serves remote Kelabit and Penan communities, making access difficult. Police said the crash site was about 10 hours by road from Marudi, while poor visibility meant air support could not be used immediately. Search and rescue efforts had to rely heavily on local villagers, Rela personnel and auxiliary police based at the STOLport.

A helicopter built for missions like this: The aircraft involved was a BO-105, a light twin-engine helicopter developed in Germany and commonly used for medical evacuation, rescue, police, military and civilian operations. First flown in 1967, the BO-105 became known for its versatility and was among the earliest light twin-engine helicopters of its kind. A standard model can carry one pilot and four passengers, reach speeds of about 242km/h and fly around 444km. Around 1,400 were produced before manufacturing ended in 2001, with many remaining in service worldwide.

Flying Doctor Service (under Health Ministry) provides medical services to isolated communities in Malaysia’s interior. There are 53 FDS teams and 11 helicopters nationwide as of 2021. More about FDS here.

Nearly 10,000 fire hotspots flagged
Satellites detected 9,841 potential fire hotspots in Aug across land managed by 53 members of the Roundtable on Sustainable Palm Oil, or RSPO, in Malaysia and Indonesia. RSPO is an organisation that promotes sustainability standards within the palm oil industry (more about RSPO here). The monitored areas included both RSPO-certified and non-certified land disclosed by its members. RSPO stressed that 9,841 hotspots do not mean there were 9,841 separate fires. Several satellite detections may point to the same blaze, while some heat signals may later turn out to come from industrial facilities or other non-fire sources. Members are therefore expected to carry out on-the-ground checks before a hotspot is confirmed as an actual fire.

RSPO also said a fire detected near or inside a plantation does not automatically mean the landowner started it or broke its rules. Possible causes include burning by local communities, hunting, fires spreading from neighbouring areas, arson, encroachment or land preparation. Open burning for land preparation is prohibited under RSPO standards. If a breach is confirmed, action can range from corrective measures and formal warnings to certification suspension or membership termination.

Photography: KL view with haze filter by @heartpatrick

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Abdul Azeez back in court over Tabung Haji
Former Tabung Haji (TH) Chairman Abdul Azeez Abdul Rahim has pleaded not guilty to a graft charge linked to the fund’s RM193.5 mil investment in construction company Putrajaya Perdana. Prosecutors allege that in Aug 2014, while heading TH, he misused his position to secure the role of Putrajaya Perdana chairman for himself. The position came with an annual salary of RM690,000, a BMW 7 Series and a driver. He is also accused of instructing then TH chief executive Ismee Ismail to nominate him as the fund’s representative in the company and of influencing the board to approve an investment of up to RM193.5 mil. Abdul Azeez later served as Putrajaya Perdana Chairman from Jan 2015 to 2018.

The charge comes after the TH Royal Commission of Inquiry (RCI) report highlighted 14 problematic investments, including the Putrajaya Perdana deal, which it said resulted in a RM193.5 mil loss. Abdul Azeez was granted RM450,000 bail and must report to MACC every three months, with the case set for mention on Nov 11. He was previously acquitted in 2022 of three bribery charges involving RM5.2 mil and six money-laundering charges totalling RM972,414.60. The Attorney General at the time said the earlier case was dropped due to insufficient evidence.

Wayang this week: His court appearance also drew attention after he arrived in purple lock-up clothing and handcuffs, but MACC said he had chosen to wear them despite being advised that neither was necessary.

Negeri Sembilan royal dispute deepens
Negeri Sembilan Menteri Besar Ismail Lasim says he signed a proclamation to remove Tuanku Muhriz Tuanku Munawir under duress and insists the document is invalid. His statement follows reports a day earlier claiming he had been pressured into backing the ruler’s removal, despite publicly pledging his loyalty to Tuanku Muhriz soon after. Ismail said a police report was lodged on Sept 8 while the state government maintains that the proclamation did not follow procedures under the Negeri Sembilan constitution and cannot be enforced.

The dispute has been building since Apr, when four Undangs announced the removal of Tuanku Muhriz. The row later contributed to political tensions that led to the dissolution of the state legislature and a state election, after which Ismail was sworn in as Menteri Besar by Tuanku Muhriz. The state executive council also discussed setting up a peace committee to resolve the customary dispute through consensus.

4. AROUND THE WORLD 🌎

US Geopolitics
Iran and US exchange strikes in biggest wave of attacks
Iran said that it attacked 10 ships, while the US sank five Iranian oil tankers. This was the biggest declared wave of tit-for-tat attacks on shipping since the war started six months ago. Iran also fired missiles at a base used by US forces in Jordan, while in Yemen, the Houthis and Saudi Arabia are fighting again. US Secretary of State Marco Rubio told reporters that "Iran continues to try to hit US naval ships, and for every time they do that or try to do that, they're going to lose tankers." Washington has now announced a new policy of attacking Iranian tankers in retaliation for fire that threatens its warships, while Iran is imposing a wider off-limits zone around the strait and is using new, more capable missiles to attack US ships.

Are we seeing a new escalation of the war? Oil markets seem to think so. Brent crude oil prices breached USD100 (RM406.76) per barrel for the first time since Jul. In the US, the average retail price of diesel fuel hit a fresh all-time high above USD5.94 a gallon. The end is nowhere in sight. It looks like Trump’s hammer on Iran in his AI pictures could end up decimating the region and global oil markets.

Trump to Putin, ‘Swift end to war in Ukraine’
With no end in sight in Iran, Trump turns to Russia and Ukraine. In a phone call with President Vladimir Putin, Trump said that he wanted the war in Ukraine to have a swift end. This would allow relations between the US and Russia to be fully restored. Seems like things are going well. Kremlin aide Yuri Ushakov said that both leaders had rated the US peace negotiators' weekend visit to Moscow and Kyiv as ‘a plus sign’. A sticking point here is that Europe is still wary about Russia’s ambitions in the region. Putin gives an assurance that Russia has no hostile plans towards Europe. Russia is hoping for trade and economic ties to be restored, which could help its weak economy to recover.

A man mistakenly transferred SGD6,650 to ex-wife and had to fight for it in court
Till death do us part. Apparently, that applies to your ex-wife still, as James Jonathan found out. He thought he was transferring SGD6,650 (RM21,246) to Wise, but instead sent it to his ex-wife. Second mistake: he still had ex-wife, Adel Ng, saved as ‘Wife’ in his phone contacts. James admitted that it was not intended for her and asked for it back. Between Dec 7 and 15, he sent her at least 10 emails. She ignored all of them. James then sent a letter of demand through his lawyers on Dec 17. She responded in the …. pettiest way possible. On Dec 25, she said she was concerned that she was a victim of a possible scam and asked for more information (identity number, copy of identity document, source of money, why the transfer was made in error, etc). The next day, she filed a police report and deposited the money with the Singapore Police Force.

James sued her on Dec 30 to seek the return of the money. Six months later, they agreed to settle this, and the money was returned. But there was still the matter of legal costs. The courts ordered Adel to pay SGD7,085 (including Goods and Services Tax), which was a ‘win’ for James. The judge said that this was a reminder that parties who fail to act reasonably could face ‘serious consequences’, including significant costs orders.

Meanwhile, a South Korean video game tycoon Kwon Hyuk-bin has been ordered by a Seoul court to pay more than KRW2 tril (RM6.1 bil) in a divorce settlement, the largest asset division ever in the country. He is the founder of Smilegate, developing successful games such as Crossfire, Lost Ark and Epic Seven. Kwon has been ordered to transfer 35% of Smilegate, which is worth about KRW2.5 tril, to his former wife, surnamed Lee, and pay KRW65 bil in cash. Lee filed for divorce in Nov 2022 and said that she contributed to the company’s founding and early management.

Anthropic AI Researcher quits and says ‘They're playing with our lives’
Things do not seem to be going well in the AI safety industry. Jacob Coxon spent three years pre-training AI models at OpenAI and then left to join Anthropic this year. He’s now quitting and decided to leave the industry. His problem? Both AI companies are ‘playing with our lives’ in the race to develop AI models capable of self-improvement. He said, ‘Neither company is acting responsibly. They are racing straight to self-improving superintelligence and gambling with our lives. The people building AI earnestly believe that it could kill us all by the end of the decade’.

Evan Hubinger, who is Anthropic’s safety executive, supported this statement by saying that ‘we really do earnestly believe AI could kill all humans! I personally think it is >10% within the next decade’ on his X post.

Their concern is that an AI system that surpasses human capabilities might not obey its creators. In recent months, both Anthropic and OpenAI had AI agents that hacked other platforms. More than 1,000 tech industry employees, along with Anthropic CEO Dario Amodei, have called on Washington to slow down the development of its most advanced AI models at the end of Jul 2026.

An interesting cyber risk report by a16z, a leading private markets investment firm:

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Shorts:

1. Very hot drinks linked to cancer?
   Think twice now when you drink that just-served kopi-O or Teh Tarik. Researchers from Oxford University have found links showing that tea and coffee drunk at very hot temperatures increase the risk of oesophageal cancer. Mind you, this sample size was nearly a million people. However, they also said that the overall chances of developing the cancer are still low. In the UK, around 1% of the population has a lifetime risk of being diagnosed with the cancer. Drinks which are above 65 degrees Celsius are defined as ‘very hot’ and pose a potential risk. Drinking six such drinks per day raises the risks further. Around one or two in every 10 oesophageal cancers could be avoided if people stopped drinking very hot beverages. Next time you see that steaming hot drink coming your way, wait a few minutes before drinking. Or ask for your teh tarik to be ‘tariked’ more to reduce the heat.

2. Messi - from football player to football owner
   Lionel Messi has agreed in principle to purchase 100% of the shares of Spanish second-division side CD Eldense held by Colombian investment group TH Soluciones Group S.A.S., the current majority shareholder. Previously, he had also purchased UE Cornella in Spain’s fifth tier on Apr 16. Additionally, he is set to receive a stake in Inter Miami after he finishes his contract there. This deal is now pending final legal and contractual procedures, due diligence and a mandatory authorisation from the High Council for Sports.
   According to Forbes, Lionel Messi’s net worth is estimated at USD1.1 bil (RM4.47 bil).

5. FOR YOUR EYES 📺

1. Wtf do DJs actually do? Now I know.

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1(a). Bonus DJ content: David Guetta’s masterclass on DJ-ing.

2. Pilot’s POV when landing the plane. When flying through the clouds, makes you realise they are flying blind. Now I can appreciate clapping when the plane lands.

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3. How to travel from Malaysia to US without flying. Follow An Shi’s journey here.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

2,275% (aka 23.7x) – The shares of tech giant Apple grew that much under the stewardship of Tim Cook, who handed the reins to new CEO John Ternus after a little over 15 years in that position. During his time, Cook turned a tech company selling iPhones and Mac computers with a market capitalisation of less than USD350 bil (RM1.42 tril) into a diverse business that also sells watches, AirPods, and financial services that has a market capitalisation of USD4.6 tril. This is a growth rate of about USD32 mil per hour over the time he was CEO. Under Cook’s leadership, Apple also became the first company to top USD3 tril in market value. An analyst noted that the push into services is likely the most successful thing Cook did, considering it generates high-margin, recurring revenue (USD109 bil in FY2025, >25% of its revenue) that is among Apple’s fastest-growing categories. Cook will now be stepping into the role of Apple’s executive chairman.

USD58 mil (RM234.6 mil) – That’s the compensation package of incoming Apple CEO John Ternus for the 2027 fiscal year, according to a filing with the US Securities and Exchange Commission on Sept 1, which was also Ternus’ first day on the job. The total is split between a USD3 mil annual salary and a stock grant with a target value of USD55 mil in 2027. Meanwhile, Apple’s former CEO and new executive chairman Tim Cook will receive a reduced annual salary from USD3 mil to USD2 mil in his new role, with the target value of his 2027 stock package coming in at USD45 mil for a total pay package of USD47 mil.

31.5% – Solar power now accounts for that large a segment of China’s total installed power generation capacity, with a capacity of 1,286 gigawatts. This is a key milestone for the country’s green energy boom, as this places solar panels as China’s top source of power capacity, surpassing coal. China remains the dominant player in the global solar supply chain, with its investment in the sector expected to top CNY2 tril (RM1.21 tril) over the next five years. This solar milestone also happened even as China’s record pace of renewable installations slowed significantly in 2026, following a policy overhaul that ended guaranteed revenue for wind and solar projects.

CNY2,400 (RM1,443) – The price to pay to have your GrabFood cross border. A customer in China paid a delivery rider to fly to Singapore to buy curry puffs in a recent incident. On Aug 31, the Hong Lim Curry Puff stall was visited by a Meituan delivery rider in full uniform, who purchased SGD13.50 (RM41) worth of curry puffs. The rider said that the customer covered the flight from China to Singapore but declined to reveal the size of his tip. Meituan is a Chinese super-app that provides a wide range of services but is best known for food delivery.

A little something extra to get through the first full week of work in a while.

3. IN MALAYSIA 🇲🇾

Kwasa Damansara targets 100,000 residents
Kwasa Damansara is expected to grow to around 100,000 residents within the next five years as more housing projects are completed. Master developer Kwasa Land Sdn. Bhd. said almost 2,000 affordable homes are nearing completion, with another 4,000 units planned in the next phase. The township will offer a mix of affordable, high-rise and landed homes, including the upcoming Seri Damansara development, where high-end condominiums are expected to cost around RM900,000 to RM1 mil. Longer term, Kwasa Land plans to deliver 11,000 affordable homes across the township. With two MRT stations, connections to six major roads and expressways, and about 11% of the development set aside for green and open spaces, Kwasa Land said the aim is to build a connected and liveable township that caters to different groups of Malaysians.

This major township matters to all of us - Kwasa Land is a wholly-owned subsidiary of EPF.

Malaysia’s Pisa scores improve, but Maths takes a hit
Malaysian students are doing a little better in Science and Reading, according to the latest Pisa 2025 results. Among 15-year-olds, Malaysia’s Science score went up three points to 419, while Reading improved by five points to 393. Maths was the weak spot, though, dropping 11 points to 397 compared with 2022. Education Minister Fadhlina Sidek said the drop needs closer attention rather than being brushed aside. On the brighter side, Malaysia was among just six countries that performed better than expected in computational problem-solving, which basically looks at how well students can break down and solve complex problems. There were also some worrying findings outside the classroom, with 5% of Malaysian students saying they had experienced cyberbullying.

Drama terkini: Negeri Sembilan MB allegedly pressured to back ruler’s removal
There’s fresh drama surrounding Negeri Sembilan’s royal institution, with a report claiming newly appointed Menteri Besar Ismail Lasim was pressured into signing a proclamation to remove Tuanku Muhriz Tuanku Munawir as the state ruler. According to Singapore’s Straits Times, the move allegedly involved Umno’s top leadership and the state’s traditional chieftains, the four traditional chiefs who play a key role in choosing Negeri Sembilan’s ruler.

The claim adds to the confusion as Ismail publicly pledged his full support and loyalty to Tuanku Muhriz just a day after the Undangs announced that he had signed the proclamation. The dispute has been brewing for months, with questions also hanging over the legitimacy of three of the four Undangs. Former MB Aminuddin Harun had previously sided with Tuanku Muhriz and refused to recognise an earlier attempt to remove him.

Shorts:

1. Johor steps up stray dog operations after child attack

   Johor has launched a large-scale operation to capture stray dogs after a two-year-old girl was seriously injured by five dogs in Kampung Tambak, Peserai. The state government said the operation will focus on capturing the strays and checking that they are free from rabies, with authorities urged to step up monitoring and use different methods to bring the situation under control. Previous operations in Aug had already captured 22 stray dogs, but authorities said the number in the area remained high. The state government will also cover the girl’s medical and follow-up treatment costs, while counselling is being provided to her 12-year-old brother, who witnessed the attack. The girl remains sedated and under medical observation after undergoing her first surgery.

2. Trevor Noah makes KL debut this Nov

   Trevor Noah is finally making his Malaysian debut, with the South African comedian set to perform a one-night show at Idea Live Arena in KL on Nov 9. Best known for hosting The Daily Show from 2015 to 2022, the Emmy-winning comedian has since kept busy with stand-up, his podcast and several other projects, including hosting the Grammys for six years in a row. Malaysian fans can catch him at 8pm, with tickets priced from RM228 to RM528. Pre-sale starts on Sept 9 via Fantopia (get it here), while general sales open on Sept 11.

4. AROUND THE WORLD 🌎

Jamaica seeks USD10 bil (RM40.44 bil) in slavery reparations from the UK
Jamaica, a country once colonised and enslaved by the UK, is planning to file a petition addressing King Charles III about slavery reparations. In 1655, Jamaica became an English colony where an estimated 600,000 to a million enslaved African people toiled in the country for more than 300 years under brutal conditions. Although Jamaica gained independence in 1962, King Charles III remains the head of state, as the country is yet to transition from a constitutional monarchy to a republic.

Jamaica plans to push for reparations for its African ancestors, and to discuss the repatriation of cultural artefacts taken from Jamaica. It will also ask the King to answer three questions on the transatlantic slave trade to the Judicial Committee of the Privy Council, the Caribbean island’s highest court of appeal based in London.

The Jamaican government estimates that the country is owed about USD10 bil, but the UK has repeatedly refused to pay for historical slavery. However, reparations have been paid once to the owners of slaves. In 1833, the British government paid GBP20 mil (RM109.34 mil) to slave owners for the “loss of their property”, after passing legislation to abolish slavery in the British Empire, worth about GBP2 bil (USD2.6 bil) today. Today, historians say that the UK government's stance still favours the elite by compensating owners instead of the slaves, although British society at large seems to be ready to apologise.

What’s the version of modern day colonialism?

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No one is prepared for the consequences of AI
OpenAI scientist and lead Jakub Pachocki has written on his blog that he is concerned no one is truly prepared for the consequences of a continued rapid rise in machine intelligence. He called for extreme caution over AI’s progress and more human intervention to ensure humans remain in control of the future. He added that OpenAI would continue to "build defensive systems" and seek technical solutions to ensure a machine's actions and goals perfectly match human intent and safety guardrails. Truth is, global regulations are struggling to keep up with the pace of AI development - a law can be applied in one place, but outside its jurisdiction, nothing can stop a rogue AI.

Separately, the UN rights chief has warned that AI could pose an “existential threat to humanity” and demanded that actions be taken to reduce the risks. He said that he would be writing to AI companies to urge them to take the preventive steps and called for independent verification and stronger collaboration on security within the industry.

 Many times we have featured this word - Terminator. Used to be sci-fi but now sounds more and more like non-fiction.

OpenAI secures Malaysian data centre capacity
Meanwhile, OpenAI has signed a multi-year agreement with Australian AI infrastructure firm Firmus to secure computing capacity from two Malaysian data centres. This effectively makes OpenAI an anchor customer for the facilities and lifts Firmus’ contracted capacity across its customers to more than 900 megawatts (MW). Firmus, which is backed by Nvidia, was valued at more than USD10.5 bil (RM42.47 bil) in its latest fundraising round.

Shorts:

1. Philippine lawmaker arrested in the hospital
   Lawmaker and cousin of President Ferdinand Marcos Jr, Martin Romualdez, has been arrested on his sick bed in the hospital following a filed “plunder” case that alleges him of up to PHP7.4 bil (RM480 mil) in bribes, anomalous budget insertions and project allocations that tie to a bogus flood-control project. He was admitted into a private hospital after suffering from “unstable blood pressure” and “anxiety attack”. Sounds like a familiar predicament closer to home.

   Enrich your vocab - learn the meaning of plunder here.

2. Netanyahu “unfit” to serve, says political rivals
   Netanyahu is currently facing intense scrutiny over his “failure” to respond to a report from the UAE that had warned him before the Oct 7, 2023 attack. Israel’s Haaretz newspaper reported that the UAE President Mohamed bin Zayed Al Nahyan spoke to Netanyahu a week and a half before the attack and told him that Hamas was planning a major operation. Election rivals Gadi Eisenkot and Naftali Bennett are among the loudest calling out Netanyahu for his “failures”, with opposition parties saying that they will prioritise establishing a commission of inquiry over the attack if elected in the upcoming Oct elections.

5. FOR YOUR EYES 📺

A(rt)ds

1. The contrast - peace in running shoes. Puma x Tibetan monks.

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2. A South Korean content creator was showing off her vast collection of Vaseline, and pronounced it as Baseline, explaining that Korean has no native V sound, hence the B. Vaseline, owned by Unilever, generates about USD1.1 bil a year in revenue. The brand capitalised on her content and ran with it, resulting in a viral marketing campaign.

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3. Emirates introduces its Premium Economy seat, redesigning for our modern electronic lifestyle. They say its Premium Economy, we say its Business Class.

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

More than SGD2 bil (RM6.38 bil) – Johor Regent Tunku Ismail Sultan Ibrahim will have to deal with that amount in taxes should he proceed with his plans to sell land in Singapore, whether he pays it himself or gets the buyer to handle it. Initial reports said the tax bill, which is also known as a land betterment charge, would be a complication to any deals, as the Johor Regent was said to be asking buyers to foot the bill. Several Singaporean and Malaysian property developers have chafed at the additional cost, as well as the uncertainty over the exact amount of the bill given the complexity of the deal. In response to these reports, the Johor Regent took to X to say that he has no issues about paying taxes. He said that, as a regular taxpayer, this is normal. He also said he was more than happy to contribute to both countries. Learn: What is a land betterment charge?

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RM3 bil – IJM Corp Bhd said it is on track to distribute that amount (~29% of its market cap of RM10.4 bil) to its shareholders over the next three years, with RM575 mil distributed so far. The remainder RM2.5 bil worth of dividends will be distributed by 2028, mainly from the planned listing of IJM Construction Sdn Bhd and IJM’s toll assets. The Group CEO said that dividends would provide shareholders with a basis to value the group better compared to just reading IJM’s annual earnings. However, the monetisation of the firm’s highway assets, expected at about RM600 mil, is still up in the air, as IJM will have to get governmental approval and attract investor appetite for said assets. The group expects the monetisation of the highway assets to take place in 2028.

RM1.5 mil – That’s how much the National Union of the Teaching Profession (NUTP) allocates every year to help its members who face legal action in the course of their duties as teachers. According to its president, the assistance covered civil suits and criminal prosecutions, with legal costs in some cases reaching RM80,000. He also added that civil suits were increasingly being filed directly against teachers rather than against the government or the Education Department. As of Aug, NUTP has provided legal assistance in 16 cases, including three currently undergoing trial in Kelantan.

3. IN MALAYSIA 🇲🇾

Melaka polls move closer

Assembly dissolution may come after Sept 18: Melaka could be heading to the polls soon, with Chief Minister Ab Rauf Yusoh hinting that the state legislative assembly may be dissolved after Sept 18. His remarks came shortly after Deputy PM and BN Chairman Zahid Hamidi urged him not to delay the process. The current state assembly term ends in Dec, while the last election in 2021 saw Barisan win 21 of the 28 seats, Pakatan Harapan take five and Perikatan Nasional secure two.

Rauf given room to negotiate: At the same time, Zahid has given Ab Rauf the mandate to negotiate cooperation with any party ahead of the state election. He said any potential partner must be sincere, loyal and able to help Barisan retain control of the state. Zahid also reminded Melaka Barisan that its priority is to defend the 21 seats it won in 2021. Beyond election strategy, he highlighted Melaka’s 1.6% unemployment rate and strong participation in Technical and Vocational Education and Training (TVET), with more than 56% of SPM school leavers pursuing TVET. He also noted that nearly 53% of Melaka’s population is under 40, giving the state a large potential workforce.

Haze puts schools on alert
Selangor schools to close if API tops 200: Schools, kindergartens and childcare centres will close if Air Pollutant Index (API) readings exceed 200 as haze conditions worsen across parts of the country. In Selangor, authorities are closely monitoring school locations after several areas recorded unhealthy air quality, including Johan Setia, Shah Alam, Petaling Jaya, Klang, Banting and Kuala Selangor.

The state government has also stepped up preparations, including plans to distribute face masks in areas with the highest readings. Open burning remains strictly prohibited, and the public has been urged to report any incidents to the authorities.

Parents can keep children home during haze: Education Minister Fadhlina Sidek said parents may choose not to send their children to school if they are worried about the haze, as long as they inform the school. Under the National Haze Action Plan, all outdoor activities are suspended once the API exceeds 100, while schools are closed when readings go above 200. As of Monday morning, Samarahan in Sarawak recorded a very unhealthy API reading of 226. Another 40 areas nationwide were in the unhealthy range, while 24 recorded moderate readings.

Long car repairs could mean compensation
Vehicle owners left without their cars for long periods because of warranty repairs may be able to claim compensation for alternative transport costs. Deputy Domestic Trade and Cost of Living Minister Dr Fuziah Salleh said this could include rental cars or e-hailing expenses, as long as owners can prove the costs were caused by their vehicles being unusable. Consumers who have followed warranty requirements and sent their vehicles to authorised service centres may also be considered for replacement vehicles, mobility assistance or other forms of compensation when delays are not their fault. Under the Consumer Protection Act, suppliers are required to fix problems within a reasonable time, while consumers may seek compensation for proven losses caused by the failure. If the issue cannot be resolved directly with the supplier or service centre, owners can also take their case to the Consumer Claims Tribunal.

There is currently no fixed maximum period for vehicle repairs. What counts as a reasonable time depends on factors such as the type of damage, spare parts availability and technical complexity. The ministry is now looking at whether clearer timelines should be introduced for major warranty repairs. It is also studying a possible right-to-repair framework, which could give vehicle owners better access to technical information, spare parts and repair equipment. However, owners are still advised to use authorised service centres during the warranty period to avoid affecting their coverage.

Shorts:

1. Stolen iPhone ‘reward’ lands man in jail
   A 33-year-old man in Melaka has been jailed for four months after demanding RM200 to return a woman’s stolen iPhone 17 Pro Max. Muhammad Nazirul Jasmi approached the victim after her phone went missing, claimed his friend was chasing the thief, then returned the device and demanded payment. He later reduced the amount to RM50 but continued pressing her after she refused. He pleaded guilty to extortion at the Ayer Keroh Magistrate’s Court.

2. Taanusiya puts Malaysia back in Miss World top three
   Taanusiya Chetty finished #3 at Miss World 2026 in Vietnam, matching Malaysia’s best result since Lina Teoh achieved the same placing in 1998. The 26-year-old Kuala Lumpur native also won the Beauty with A Purpose award, which highlights contestants’ humanitarian and community work. Taanusiya, who is an educator, also drew attention for her response on environmental responsibility, her tarian silat performance and a viral video of her speaking English, Malay, Mandarin and Tamil. She will now join the Miss World winner in carrying out humanitarian duties internationally.

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4. AROUND THE WORLD 🌎

Anak Krakatau eruption grounds flights and 270,000 people in Indonesia
In 1883, Krakatau erupted and sent ashes as high as 80 km into the sky. It blanketed about 800,000 square kilometres, turning the area into total darkness for two and a half days. It then drifted around the globe and acted like a solar radiation filter, possibly lowering global temperatures by 0.5 degrees Celsius. It even gave ‘birth’ to a mini volcano - Anak Krakatau.

Fast forward to Sept 6, this mini volcano has erupted like its parent. Ash reached as high as 6 km on the Java side, and 15 km on the Sumatra side. Not as high, but still quite severe. 2,000 flights were grounded, while airports had to suspend operations. And this left 270,000 people stranded across Indonesia. Schools had to close, and students went back to online classes as they did during the pandemic. Ships travelling near the Sunda Strait (where Anak Krakatau is) are prohibited from entering an exclusion zone of a 3 km radius around it. People who were travelling had to find alternative transport options that included roads and trains.

Authorities so far have said that the situation remains uncertain, ‘We cannot ascertain when this ‌will end due to the dynamic weather’. And they are conducting tests every 30 minutes to test whether the ash spread is widening or subsiding.

AI - for good, for bad
Jensen Huang congratulates OpenAI’s ‘AGI’ model
Well, Jensen Huang definitely has a wide smile on his face. OpenAI has recently released its latest AI model, Astra. And he has publicly congratulated OpenAI and said that ‘AGI has arrived’. AGI stands for artificial general intelligence and refers to an AI model that can match or exceed the cognitive abilities of human beings across any task. Basically, it’s faster, stronger and smarter than all of us.
And yes, the model was trained with Nvidia’s chips.

Here’s how OpenAI describes Astra: ‘the world's most intelligent and aligned model, and capable of performing the most demanding professional work with unmatched speed, accuracy, and judgment.’ Not everyone is convinced. Gary Marcus, an AI researcher and critic, said that Astra only fulfilled about one or two of the 10 conditions for AGI. But Huang is not blinking an eye. In a follow-up post, he said that ‘400k GPUs are coming online next’. Are we truly starting the Terminator arc right now?

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Forget drones, AI robots from China will fight your war now
It was kinda chilling to go from AGI to this story in China. If you didn’t know, there is a World Humanoid Robot Games where companies come together to showcase their robots in various capabilities - think Olympic, but for robots. This year, it was held in China, where robots ran faster than Usain Bolt over 100m, jumped, danced, and … boxed.

Two days later, the People’s Liberation Army (PLA) called for researchers to accelerate the transfer of robotics into military training grounds to build ‘robotic combatants’. China is already working to incorporate and deploy robots for eventual wartime deployment. Researchers at NUDT’s test centre in Xi’an described a scenario of six combat robots that consist of humanoids, robot dogs or unmanned vehicles that would be split into two assault teams. They would then work with ground troops to clear buildings.

Want to know what the more chilling part? Chinese manufacturers account for 95% of global humanoid shipments in 2025, according to BofA Global Research.
It seems like the Terminator franchise missed the elephant in the room — China.
Bonus: One robot even did a signature Ronaldo Sui after scoring

Trump’s 10-hour AI-generated Truth Social posts
Well, someone spent all of his department's tokens, that’s for sure. Trump went on a 10-hour-long rampage posting dozens of AI-generated images on the Truth Social platform. And if you have seen them, well, we are sorry for your eyes. Here’s one where he portrays himself ‘crushing Iran’.

Source.

And then, the White House published an AI video depicting Trump as the Green Lantern, building a wall to prevent immigrants from coming in, and then reviving American manufacturing.

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He also posted images that showed the Strait of Hormuz becoming a US territory, while New Mexico becomes ‘New America’. Then, there is one that showed Lake Ontario (which borders both America and Canada) becoming “Lake America”. His diplomatic department must be in flames now.

Let’s not forget that Trump previously also did a ‘Spider-Man’-themed post showing that Spider-Man is, in fact, an ICE agent.

It’s not stealing if it’s a freebie, right? Chiikawa and Kura Sushi learn that the hard way
Japanese sushi chain Kura Sushi is learning that if you run a freebie promotion campaign, your staff will peddle your freebies as merch to sell to others online. It ran a hyper-popular campaign featuring Chiikawa merchandise like pouches and plates on a first-come, first-served basis through the end of Sept. Customers can also win key chains, magnets and other trinkets. The thing is, they were all LIMITED. Of course, customers booked and reserved in advance, with a Kura Sushi spokesperson saying that virtually every table at its restaurants had been booked for the rest of the month. Kura Sushi’s staff saw an opportunity, stole them and resold them online. Kura Sushi abruptly ended the campaign, as expected, and customers cancelled their reservations. It looks like the craze for merch is still going strong.

5. FOR YOUR EYES 📺

Putting tech into good use

1. A taste of self-driving cars. Tesla just rolled out its taxi service, Cybercab, in Austin. A car without steering. Coming after Uber’s lunch.

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2. Grab but for blood delivery in Malaysia. A more sophisticated system by Zipline here that can deliver as far as 120 km.

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3. Combining nature and robotics - cyborg cockroaches to examine pipes. The cockroach used is Madagascar hissing cockroach, harmless to humans and do not pose any threat of diseases unlike the ones we commonly scream and run away from (i.e. American and German cockroaches).

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1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

10,000 – That’s the number of Formula One (F1) Bahrain Grand Prix tickets allocated for the Madani initiative. The tickets, priced at RM200 each, are already sold out, with Youth and Sports Minister Taufiq Johari saying there has been no decision to increase the allocation. Overall ticket sales for the racing event, which will take place from 2 Oct to 4 Oct, are already nearing capacity, with most segments sold out. Currently, the remaining tickets are for the C Hillstand, K2 Hillstand, and Main Grandstand areas, priced at RM809.60 for the two hillstand sections and RM2,083.40 for the Main Grandstand. Check out the ticket prices here.

HKD30 mil (RM15 mil) – Hong Kong-based Japanese singer-actress Hiromi Wada was once offered that amount to become a surrogate mother and carry the child of a wealthy businessman, an offer she refused on principle. This came up as part of a recent interview where she opened up about the darker side of the entertainment industry. She was also promised a six-figure sum and monthly earnings of several hundred thousand dollars if she agreed to accompany wealthy businessmen to meals and gambling-related engagements in Macau and Singapore. Wada refused this as well, as she disliked such a lifestyle.

Over 371,000 taels (19 tonnes) of silver – That’s how much the Kangxi Emperor of the Qing dynasty paid to commission a gold-inked collection of all of the Buddha’s sutras for his grandmother, Grand Empress Dowager Xiaozhuangwen. The result was a 108-volume manuscript, which took countless artisans and 171 lamas two years to complete. The manuscript, called the Tibetan Dragon Canon, was completed in 1669, and is said to bring seven lifetimes of good fortune to those who glimpse the 357-year-old scripture. Each volume is made up of between 300 and 500 pages of deep-indigo-dyed paper, with the sutras written in gold ink. The manuscript is currently on display at Taipei’s National Palace Museum. Check out the exhibition here.
Fun fact: the 371,000 silver taels paid would be worth more than RM165 mil today. 19 tonnes is about 610,864 troy ounces (the unit of measurement for precious metals), with the spot price of silver at the time of writing being USD66.09 (RM270.58).

3. IN MALAYSIA 🇲🇾

Putrajaya always prepared to declare an emergency
Natural Resources and Environmental Sustainability Minister Arthur Joseph Kurup said Putrajaya is ready to declare a state of emergency for any area that records an Air Pollution Index (API) reading above 400, in line with the country's standard operating procedure for haze management. He said the emergency declaration would remain in effect until API readings fall to a safer level. So far, Putrajaya has declared an emergency in the district of Serian, Sarawak, last Friday after the API reading reached 519. So, what happens when a haze emergency is declared? It activates coordinated crisis protocols under the National Haze Action Plan to protect public health and safety, which include - 

1. Workplace and school closures. However, essential services such as healthcare, utilities (water and electricity), police and rescue, public transport, supermarkets, banks, and fuel stations remain open.

2. Restricted movement rules. Residents are strongly advised to remain indoors with windows and doors shut tightly to prevent polluted air from entering. It is not a military lockdown or curfew like the COVID-19 Movement Control Order (MCO).

3. Cloud seeding protocol initiated. Authorities deploy aircraft to conduct cloud seeding over dry patches and fire hotspots to induce rain and clear the air.

The situation that is currently happening in Serian, Sarawak, is triggering PTSD to people in Muar and Tangkak, Johor, as they recall similar experiences back in 2013. On June 23, 2013, a state of emergency was declared in the districts of Muar and Tangkak after the API reading exceeded a whopping 750. The situation back then was so bad that even hanging laundry outside was impossible because clothes would be covered in ash and dust from the haze. 

Even more than a decade later, the issues of transboundary haze remain unresolved. Work on transboundary haze enforcement primarily relies on diplomatic negotiation and regional frameworks, as direct legal enforcement across international borders faces significant limitations. Singapore passed its Transboundary Haze Pollution Act in 2014. Unfortunately, the Act operated mainly as a symbolic measure and has yielded zero public convictions due to cross-border evidence barriers.

Delay in the supply of fertiliser locally = bombs in Thailand?
PM Anwar has ordered MACC to investigate the supply of fertilisers to paddy farmers after receiving multiple complaints about delays. It was previously reported that the delay in supplying fertiliser to padi farmers could hamper domestic rice production and lower the country’s rice self-sufficiency rate. At the moment, under the Paddy Production Incentive Scheme (SIPP), Malaysian paddy farmers receive physical allocations of fertilisers alongside cash subsidies of approximately RM3,465 per hectare each season.

However, there may be a more malicious reason why there are roadblocks for local paddy farmers in getting their respective supply of fertiliser, as in a separate event, Home Minister Saifuddin Nasution Ismail said that both Malaysia and Thailand are currently investigating the allegations that our subsidised fertiliser was used to make bombs in Thailand. Previously, Thai authorities seized Malaysian government-subsidised fertiliser amid suspicions it was intended for bomb-making. The fertiliser sacks that were seized allegedly either have the National Farmers Organisation (Nafas) logo or Federal Government Paddy Fertiliser Scheme (SBPKP) markings on them. About 520 kg of urea fertiliser was seized during an operation in the Koh Sathon subdistrict next to the Malaysia-Thai border last Friday.

FYI : You must know the striking orange jumpsuit that all MACC detainees wear to court, right? MACC chief commissioner Abd Halim Aman has announced that the agency has suspended the use of orange lock-up attire for suspects brought to court for remand proceedings. Now, suspects are allowed to wear their own clothes when brought to court.

US Embassy vs PAS
Representative from the US Embassy in Malaysia, David H Gamble Jr, has dismissed PAS President Abdul Hadi Awang’s claim that the US offered to help PAS topple the then-BN administration led by former PM Najib Razak. Gamble added that the US has never sought to determine Malaysia’s political leadership. Although Hadi has a tendency to spew outrageous, unbacked claimes, However, his claims should not be taken lightly, as the US has that dark history of meddling in the affairs of other countries such as:

• Iran (1953), Operation Ajax - The CIA, alongside British intelligence, orchestrated a covert coup d'état that overthrew Iran’s democratically elected Prime Minister, Mohammad Mosaddegh. Mosaddegh had angered Western powers by nationalising Iran’s oil industry. The US successfully reinstalled the pro-Western monarch, Shah Mohammad Reza Pahlavi.

• Guatemala (1954), Operation PBSuccess - The CIA financed, trained, and armed a paramilitary force to depose the democratically elected Guatemalan President, Jacobo Árbenz. Árbenz’s aggressive land reform policies threatened the commercial interests of the American-owned United Fruit Company. The coup effectively ended a decade-long democratic period in Guatemala, replacing it with a series of US-backed military dictatorships.

Declassified documents, academic databases, and historical consensus point to at least 81 overt and covert US interventions in foreign elections between 1946 and 2000, alongside dozens of covert attempts at regime change during the Cold War era.

Hadi tells the encounter here.

Shorts

1. Thailand scraps 60-day visa-free entry to Malaysians

   Thailand's Foreign Ministry announced that it will implement a major overhaul of its tourist visa exemption, including reintroducing the 30‑day visa‑free entry scheme to countries including Malaysia, effective September 15. Department of Consular Affairs director‑general Mungkorn Pratoomkaew said immigration data showed the average stay for foreign tourists is under 15 days, making the blanket 60‑day exemption redundant.

2. Smart Durian Fast Track System explored

   Malaysia Airports Holdings Bhd (MAHB), China Henan Aviation Group Co Ltd (CHAG) and Tropika Makmur Manufacturing Sdn Bhd (TMM) are currently exploring a fast track system that could allow Malaysian fresh durians to clear customs in China within three to four hours. MAHB said the initiative aimed to facilitate faster, more visible and better-coordinated movement of Malaysian durians and other time-sensitive agricultural products between Kuala Lumpur International Airport (KLIA) and Zhengzhou Xinzheng International Airport (CGO).

4. AROUND THE WORLD 🌎

South Korea considers joining fight at Strait of Hormuz
South Korea, an American ally, has been heavily pressured by the US to take part in the “freedom of navigation” fight against Iran in the Strait of Hormuz, although an official statement by the presidential office has said that they are only in the middle of considering the option, without any solid decisions so far. South Korea has been heavily affected by the closure of the Strait of Hormuz, as it relied on the supplies transiting the waterway for 61% of its crude oil imports and 54% of its naphtha imports last year. The statement also said that South Korea may be able to make military contributions to global efforts to ensure free navigation through the strait, as long as such contributions do not compromise its military readiness. Not that the South Korean people are supportive of the decision - a Gallup ‌Korea poll from March found 55% of people were opposed to sending South Korean warships to the strait.

US man survived pig kidneys for record 271 days
A man from the US has survived with a kidney transplanted from a pig for 271 days before it failed and needed to be removed. Scientists who carried out the study hail it as a positive indicator, saying that it illustrates both the promise and the remaining challenges of clinical kidney xenotransplantation, where organs from other species are being used instead of human ones. It also shows that pig organs can be used as a "bridge" until a human transplant becomes available.

While pigs are seen as the ideal animal for xenotransplantation, not all pigs are meant for this purpose. Researchers have developed Yucatan miniature pigs that have gone through 69 genomic modifications to "humanise" their organs, where it becomes roughly the right size. The modifications strip out the features of a pig cell that cause the human body to reject it, add some human DNA that acts like camouflage netting to help hide the pig tissue from the immune system and disable viruses that hide inside pig DNA to prevent infection. Read more about the study in The Lancet medical journal.

More about Yucatan pigs here - sounds like the X-Men version of pigs.

Tech

Oura goes for IPO, revealing USD 1.4 bil in revenue
Smart ring maker Oura is one step closer to becoming a public company, as it filed its S-1 paperwork towards an initial public offering (IPO). The company pulled in USD 1.4 bil in revenue and USD 59 mil in net income in the one-year period that ended in June. The company said revenue had grown 74% year-over-year, comparing the first three quarters of fiscal year 2026 to the same period in 2025. It has 5 mil paid members as of June. The company said that its business relies on outside AI models, including OpenAI, Anthropic, and Google, and on third-party data centres, adding that disruptions to the data centres could impact the company.

Thailand puts 49 data centre construction on hold
The Thai government has suspended the construction of 49 server farms as public concerns about the power-hungry facilities’ impact on communities intensify. An official has said that it is to give time to the government to develop new industry regulations, with clear and consistent standards in place to ensure the industry can grow sustainably. The Southeast Asian nation has emerged as a regional destination for AI and cloud infrastructure as global technology companies including TikTok, Alphabet Inc.’s Google, Amazon and Microsoft build out data centre capacity. The government approved 88 projects with a total investment of THB 886 bil (USD 27 bil) related to artificial intelligence and data centres in the first six months of the year.

Shorts

1. No more EU passport sales from the Caribbean

   Since 1984, more than 100,000 people have bought citizenship from the five Caribbean countries – Grenada, Dominica, St Lucia, St Kitts and Nevis, and Antigua and Barbuda – largely because they offer visa-free travel to the European Union (EU) and dozens of other countries. But it could end soon as Europe, amid its security crackdown, has warned those nations must end the lucrative programmes by 2028 or lose their entry privileges. This leaves the nations vulnerable to an economic breakdown, as passport sales, aka Citizenship by Investment (CBI), are a critical source of funding for the countries (accounting for more than half of national revenue. Jho Low is a CBI client.

2. UN adopts new world map that shows Africa’s true scale

   Did you know the world map we have been seeing is out of proportion? The UN General Assembly has officially retired the 16th-century Mercator projection in favour of one based on the more accurate 2018 Equal Earth design, which displays a more accurate size of Africa. At the session, 164 countries voted in favour of the resolution, except for the US. There were 6 abstentions to the vote. Although the UN resolution is non-enforceable, the outcome is expected to result in an update of classroom curricula and everyday technology given the wide usage of the Mercator projection in education, technology and governance. Just how out of whack? The Mercator map shows Greenland to be same size as Africa, even though the latter is 14x larger. May the truth always prevail. Watch the comparison of the old vs new map:

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5. FOR YOUR EYES 📺

The Science of Pain

1. Ear pressure pain during flight, but it’s your nose that causes it.

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2. The pain on the side of your abdomen when you run.

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3. The pain that all Malaysians can’t avoid - corruption. Mr Money interviews former MITI minister and now chairman of Malaysian Investment Development Authority (MIDA).