☕️ 21 Malaysian-linked firms named in haze probe by environmental group

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

40 – That’s how many cameras were distributed across Camp Nou Stadium during the recent El Clasico match. The cameras were part of a television production that includes ultra-high-definition filming, slow-motion replays, and individual player tracking techniques. The cameras also provided dedicated coverage of stars Lamine Yamal and Kylian Mbappe. The Spanish La Liga actually has requirements in place to determine the number of cameras required for coverage at a match. Any game involving Barcelona or Real Madrid is marked “Category A”, which requires at least 22 cameras for coverage. Major matches like El Clasico or the Madrid Derby have a higher rating of “A+” and require 35 to 40 cameras distributed according to a pre-defined shooting plan, which includes their locations and coverage angles. Real Madrid beat Barcelona 2-1, with Mbappe scoring both of Real Madrid’s goals and Raphinha scoring once for Barcelona. Check out the match highlights here.

USD14 mil (RM57.2 mil) – A jersey worn by Michael Jordan from his “Last Dance” season recently sold for that amount, setting a record for highest price paid for a piece of basketball memorabilia. The jersey was worn during game two of the 1998 NBA Finals and also bore the autograph of Jordan himself. The previous record for a basketball item was a card featuring Jordan and Kobe Bryant, which sold for USD12.9 mil last year. Meanwhile, the previous record for a piece of game-worn Jordan memorabilia was set just two weeks prior, when the player’s jersey from game three of the 1998 Finals, which is not autographed, was sold via auction for USD12.3 mil. Currently, the only item that costs more than Jordan’s game two jersey is the jersey worn by baseball legend Babe Ruth when he “called the shot” during the 1932 World Series, which was sold for USD24.1 mil in 2024.

7 – Historically, there have been only that many previous instances of a team scoring 23 or more goals after seven games of a Premier League season, for an average of 3.28 goals per match. All but one of those instances saw the team that pulled off the feat going on to finish in the top three, with Manchester City winning the title in the 2011-12 and 2022-23 seasons. The outlier was Newcastle United in the 1994-95 season, which only finished sixth. The Brighton team of the 2026-27 season is now the eighth team to have at least 23 goals after seven games, but critics are comparing them to the Newcastle team, rather than considering them as serious title contenders.

3. IN MALAYSIA 🇲🇾

Beyond M40/B40/T20 for aid eligibility
A long-awaited change. Malaysia will start using a net disposable income approach in 2027 to assess eligibility for government aid, moving beyond gross income alone. The new method will consider basic living costs, household liabilities and socio-demographic factors to give a clearer picture of how much money families actually have left each month. Deputy Economy Minister Mohd Shahar Abdullah said the approach is meant to better reflect the financial pressure faced by households, including the middle class. Based on the 2024 household income survey, the M40 group earns between RM5,860 and RM12,679 a month, with an average monthly income of RM8,744. The M40 range has risen from RM5,250 to RM11,819 in 2022.

Nearly 70% of M40 income goes towards basic expenses. Housing and utilities take up 22.7%, food accounts for 34.1% and transport another 10.6%. After medical protection and other commitments, the amount left each month can be much smaller than gross income suggests. The Economy Ministry is now discussing a pilot project with relevant agencies to study how the new approach would affect government finances. The final method is still being worked out. In the meantime, Budget 2027 includes measures covering housing, education, healthcare, taxation and wages. Some aid programmes, including Budi95 and early schooling assistance, have also started reaching a broader group of Malaysians, including middle-income households.

‘Corporate mafia’ report to go public
The government says it will make public the findings of a special task force investigating allegations of a so-called “corporate mafia” involving corporate crime and listed companies. The task force was announced by PM Anwar on Oct 20 and has been given three months to complete its investigation. Led by Attorney General Mohd Dusuki Mokhtar, it includes representatives from the police, Securities Commission Malaysia, Bank Negara Malaysia, the Malaysian Anti-Corruption Commission and the Inland Revenue Board.

The allegations gained attention after a Bloomberg report raised claims involving takeovers of companies listed on Bursa Malaysia and alleged collusion with MACC officials. The MACC and its then Chief Commissioner Azam Baki have denied the allegations. Minister in the PM’s Department Azalina Othman Said told Parliament that Anwar had assured the final report would be released publicly. She said the move was intended to support transparency and maintain public confidence in the country’s enforcement institutions.

Kelantan braces for monsoon floods
Again, and again, and again. Kelantan has identified 609 flood-prone locations ahead of the Northeast Monsoon, with Pasir Mas recording the highest number at 200. Other areas at risk include Machang, Kuala Krai, Kota Bharu, Pasir Puteh, Tumpat and Gua Musang. The Kelantan Drainage and Irrigation Department said prolonged heavy rain, rising river levels, high tides and clogged drains can all increase flood risks, especially in low-lying and riverside areas. Changes in land use can also cause water to flow more quickly into vulnerable locations.

To reduce the impact, the federal government is carrying out the RM3.04 bil Sungai Golok Integrated River Basin Development Project (PLSB) across three phases. Phase 1 is expected to protect about 16,800 residents across 260 sq km. Phase 2 could reduce flood-risk areas by 25,000 ha and protect 25,000 people, while Phase 3 is expected to cover another 15,000 ha and protect 16,000 residents. A separate RM22 mil dredging project at the Sungai Golok estuary was completed on Sept 6 to improve water flow into the sea. MetMalaysia has forecast three to five episodes of continuous heavy rain during the early phase of the 2026/2027 Northeast Monsoon, particularly from Nov to Jan. Low-lying areas and locations near rivers could face a higher risk of flooding during that period.

A lawatan sambil belajar for inspiration to Holland instead of Kuala London would serve Kelantanese better:

21 Malaysian-linked firms named in haze probe
Indonesian environmental group Walhi has identified 21 Malaysian-linked companies that it alleges are connected to forest and land fires contributing to the regional haze. Its findings challenge an earlier Malaysian government statement that checks had found no Malaysian plantation companies involved in the fires. Walhi said its analysis found active hotspots and fires within concession areas linked to Malaysian parent companies (view its report here). Among those named in previous reports were SD Guthrie, Genting Plantations and Kuala Lumpur Kepong. The companies have disputed the allegations. SD Guthrie said there was no credible evidence that its subsidiaries caused fires, while Genting Plantations and KLK said fires had entered their concession areas from outside. Walhi argues that Indonesian law still requires concession holders to prevent fires within their areas regardless of where they started.

Indonesian authorities have also reportedly taken action against 22 foreign-owned companies, including nine from Malaysia, over forest and land fires. Walhi now plans to pursue legal action against companies it believes were involved. Indonesian law allows communities affected by pollution or forest damage to file citizen lawsuits seeking compensation and accountability. Because legal action in Indonesia mainly targets local subsidiaries, Walhi is also studying possible action in Singapore against parent or holding companies. Singapore’s Transboundary Haze Pollution Act could provide a legal route, while Malaysia currently has no equivalent law. Walhi also plans to submit its findings to the Malaysian and Singaporean embassies in Indonesia.

Hazy memory - forgotten how Malaysia looks like in 4k.

4. AROUND THE WORLD 🌎

Top China carmakers beat top Japan carmakers in Europe
China’s domestic price wars are finding new clients in Europe. For the first time, Chinese automakers outsold Japanese rivals in Europe, in one full quarter. Chinese car registrations doubled from a year earlier in Sept to make up 12.7% of total sales in Europe, beating out Japanese manufacturers at 11.9%. Fuelled by a lack of demand in China, Chinese players are increasingly looking at overseas markets to drive sales, and they are doing so by keeping prices low. This has drawn the ire of the European Union (EU), as it has accused China of using state subsidies to keep prices cheap to compete with European players in the past.

So, the EU has now agreed in principle to curb fast-growing imports of hybrid cars from China. It is also considering new rules that would favour locally made cars when granting subsidies and other incentives. Chinese players are now preparing to invest in Europe to set up local manufacturing sites. Chery is preparing production in Barcelona. BYD is almost done with its Hungary manufacturing site. Zhejiang Leapmotor has started making its B10 SUV at Stellantis NV’s plant in Zaragoza, Spain.

Brazil’s 2026 election results: Lula wins a fourth term
Luiz Inácio Lula da Silva is 80 years old, and he has won a record-breaking fourth term overall and a second consecutive term to become Brazil’s president. He won just over 51% of the vote to Flávio Bolsonaro’s 49%, who was his main rival in the election.

Three weeks ago, Lula only received 45% of the votes against Flavio Bolsonaro’s 47%. But a furious campaign to get voters who stayed home to go out to vote, and pitching his cost of living and social programmes to them got Lula to the finish line. The northeast region, which is the stronghold for Lula and his Workers’ Party, delivered the votes he needed to edge Bolsonaro out. Lula is now on track to beat his own record as the oldest Brazilian president since the country’s return to democracy.

However, there might be complications. Bolsonaro has pledged to annul the vote, saying that the extended hours for voting confused voters. He wanted more time for voters in areas affected by heavy rain and flooding. Meanwhile, in Minas Gerais, 349 polling stations lost electricity. Then, Supreme Court Justice Cristiano Zanin ordered polling stations to remain open for another two hours, until 7 pm, but came too late as some stations had already closed. Brazil’s Federal Police are investigating alleged election-related transport disruptions in five states.

Lula’s victory sent its stock market Bovespa tumbling more than 17% and its currency, real, down 12%.

Our neighbour down below
Saudi Arabia wants to store oil in Singapore
When push comes to shove, Saudi Arabia will be like a squirrel, storing some of its oil in different places. It intends to store crude oil at Singapore’s Jurong Rock Caverns from the second half of 2027 to strengthen supply security in the region. Saudi Aramco, Saudi Arabia’s state-owned oil company, will sign a memorandum of understanding with Singapore’s Energy Market Authority and JTC Corp and aims to conclude negotiations in a few months’ time.

Asia imports two-thirds of its oil supplies from the Middle East before the US-Israeli war with Iran, but Saudi Arabia is struggling to get its oil through the Strait of Hormuz due to the war. The Jurong Rock Caverns can store up to 1.47 mil cubic metres or nine mil barrels of liquid hydrocarbons and is located at a depth of 150 metres below the ground.

Currently, Saudi Aramco has arrangements to store crude oil in Japan and South Korea, where local governments have priority to buy the supplies in the event of an unexpected shortage.

1. Okinawa, Japan: 8.2 mil barrels of capacity

2. Ulsan, South Korea: 5.3 mil barrels of capacity

Here’s how Singapore’s oil bank works:

Singapore to raise retirement age to 65
Work one more year? That’s what the Singapore government is offering Singaporeans. The retirement age will be raised to 65 years old on Jan 1, 2029, from the current 64 years old, while the re-employment age will be raised from 69 to 70. According to Singapore’s Ministry of Manpower, employers must offer re-employment to eligible employees who reach the minimum retirement age, up to the re-employment age of 70.
Learn: What is re-employment?

According to the Tripartite Workgroup on Senior Employment, flexi-place and flexi-time arrangements are fairly common, but there is a significant gap in flexi-load options for seniors. This arrangement allows employees to take on different workloads with adjustments to their remuneration. Think of part-time work, but on a more structured basis. The government has accepted the workgroup’s proposal to set up a new flexi-load program and a dedicated program office. This will replace the Part-Time Re-employment Grant, which has supported about 68,500 seniors and 7,800 employers.

Shorts:

1. 93-year-old Japanese woman 1 - 0 scammer
   You can teach an old dog new tricks, apparently. A 93-year-old woman in western Japan pretended to fall for a scam and helped police arrest the suspected scammer at her home. She received telephone calls from a man who claimed to be a police officer and said that her bank account had experienced an unauthorised withdrawal. She was to hand over her ATM card to the man, who would visit her so that authorities could verify her account. She consulted her son and the police and waited for the scammer to visit. And then, police arrested him when he came.
   Here’s one way you could teach your grandma how to waste scammers’ time:

2. Dutch government to cut 25,000 civil servant jobs in the name of AI
   “That is why we are going to make tough choices for a central government that really works: simpler, smarter, and smaller”, said State Secretary for Effective Government Eric van den Burg. The government is planning to cut 25,000 civil servant jobs over the next 10 years in the name of AI to deliver annual savings of EUR3.5 bil (RM16 bil) by 2035. The government has a record of 160,000 government officials and operates a small budget deficit of 1.8%. Are governments now having a job apocalypse too? This, in Malaysia, would be a tough one.

5. FOR YOUR EYES 📺

1. China and the blueberry war. The story started 15 years ago and in 2021, China overtook the US to be the world’s top blueberry producer.

2. The first known case of a rescue using drone in war, flying the soldier 15 km away to safety. Survived for nearly 500 days stranded in drone “kill zone”. Had to amputate both of his own legs to survive. Read more here. This is going to Hollywood soon.

3. Meme: The Origins. You probably have seen this ‘kung fu’ moves going viral. Turns out, it’s a dance move instead.