☕️ After oil, now water at risk

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

83 points in a single game – With that performance, Miami Heat centre Bam Adebayo has surpassed Kobe Bryant as the second-highest single-game scorer in NBA history. Bryant’s previous record was 81 points in a game in 2006. Adebayo achieved the total during the team’s game against the Washington Wizards, which the Miami Heat won 150-129, with Adebayo contributing more than half of his team’s total points. The NBA record for most points scored in a single game still belongs to Wilt Chamberlain, who scored 100 points in a game in Mar 1962.

GBP37.3 mil (RM194.85 mil) – That’s how much it cost Manchester United to hire, then sack, Portuguese manager Ruben Amorim. The manager was dismissed following his public attack on the football club’s hierarchy, where he said he was being treated like a coach rather than a manager. Manchester United spent GBP10.4 mil on the exit of previous manager Erik ten Hag to make room for Amorim, whom Manchester United paid GBP11 mil to appoint. Now, the football club will be paying GBP15.9 mil for the exit of Amorim and his team.

24 (41%) – That is the share of Arsenal’s 59 goals so far in the current Premier League season that were scored from set-pieces. Set-pieces, also called standard situations, refer to all restarts of play following a stoppage, such as after fouls, corner kicks, or throw-ins. So far, Arsenal are leading the title race due to their strategy of capitalising on set-pieces, but critics have called this a boring and ugly way to play football. Should Arsenal maintain this high percentage of set-piece goals and secure the title, it would become the team most reliant on set-pieces for goals in Premier League history.
Learn: What are set-pieces?

3. IN MALAYSIA 🇲🇾

Sunway Healthcare goes public and what’s next
If you got the IPO shares, congrats! The share closed at RM1.85, 28% higher than its IPO price of RM1.45, and went as high as RM2.07 (+42.8%). Now, share some of your profits with us here.

Medical tourism boost from Middle East: Sunway Healthcare is set to benefit from shifting medical tourism trends as tensions in the Middle East redirect patients towards Malaysia. The group expects a near-term rise in Middle Eastern patients, who previously sought treatment in hubs such as Dubai, to consider Southeast Asia instead. President Datuk Lau Beng Long said some patients may temporarily relocate for care, while demand continues to be strong from key markets including Indonesia, Cambodia, China and India. The currency dynamism in the region also makes treatment priced more competitively, further boosting Malaysia’s appeal as a regional healthcare destination.

Dual listing plans on hold for now: Despite interest for a potential dual listing in Singapore or Hong Kong, Sunway Healthcare is taking a measured approach. Founder Tan Sri Dr Jeffrey Cheah said there is no immediate need for a secondary listing, with priority placed on strengthening operations following its strong market debut on Mar 18, 2026. Shares opened 17% above the IPO price of RM1.45, signalling strong investor confidence. The group is focusing on expanding its network and scaling its hospitals, while keeping the option of a dual listing open for future consideration when market conditions are more favourable.

IFC backs expansion with RM60 mil investment: Sunway Healthcare’s growth has been reinforced by a RM60 mil investment from the International Finance Corporation (IFC), supporting hospital expansion, increased bed capacity and job creation. The group aims to nearly double its capacity to over 3,500 beds by 2032 through a mix of new developments and upgrades to existing facilities. New hospitals typically reach profit-before-tax within just over a year, demonstrating a proven track record of rapid operational success.

Water supply alert amid Middle East tensions
The National Water Services Commission, SPAN, has advised operators to take immediate steps to safeguard water supply as trade disruptions from the Middle East conflict could affect the sector. Operators are urged to stockpile chemicals, and mechanical and electrical spare parts, to last three to six months. SPAN highlighted that the industry relies heavily on fuel for water treatment and distribution, as well as logistics for procuring equipment, spare parts and chemicals for plants and piping systems.

Current monitoring shows operators have not faced significant issues, with fuel costs remaining stable following remarks from PM Anwar Ibrahim. Costs for spare parts and processing materials have also not spiked sharply. SPAN will continue monitoring the situation and does not rule out potential disruptions if the conflict persists. Any sudden increase in costs could affect water operations, and the commission will propose measures to the Energy Transition and Water Transformation Ministry (Petra) to protect consumers.

The Mystery of the Stolen Urns: Urn theft shock in Nilai memorial park
Police are investigating the theft of 30 columbarium urns from a memorial park in Nilai, after the case was reported to authorities on Feb 26. Nilai district police chief, Superintendent Johari Yahya, said the cemetery management filed the report after noticing several urns missing from the site. Preliminary findings revealed that the management received an international WhatsApp voice call from an individual claiming to have the stolen urns and allegedly demanding a ransom for their return. Police have not ruled out the possibility that the caller is directly linked to the theft and are pursuing technical assistance from relevant agencies to identify the suspect and trace the communication network used. The case is being investigated under Sections 380, 384 and 297 of the Penal Code covering theft, extortion and trespassing in burial places.

The memorial park management confirmed the incident and said an internal investigation has also been launched. The management stated that it has taken measures to address the incident and reviewed all relevant processes to protect families’ interests. This comes after a similar report of over 20 urns being stolen from Perpetual Memorial Park in Kulai, highlighting concerns over security at memorial sites in the region.

Btw, there’s a whole industry and money to be made from recovering precious metals from inside the dead.

Shorts

1. TMJ eyes Holland Road for residential project
   The Regent of Johor, Tunku Mahkota Ismail, has submitted a development application to build low-rise, low-density housing and good class bungalows on his 16.6-hectare Holland Road land following a land swap with the Singapore government in June 2025. Under the deal, Plot C, closer to the Singapore Botanic Gardens UNESCO World Heritage Site, was transferred to Singapore while Plot A, worth between RM15 bil and RM30 bil, was received by the Regent. The Urban Redevelopment Authority has reviewed the proposal, noting it is compatible with the surrounding neighbourhood and height restrictions protecting the Singapore Botanic Gardens.

2. MYR at its strongest against SGD
   Malaysia’s ringgit strengthened 0.2% to 3.0615 against the Singapore dollar on Mar 18, marking its highest level since Mar 2021. The currency has been supported by higher energy prices, Malaysia’s status as a net energy exporter, optimism over artificial intelligence investments, and stronger-than-expected GDP growth. Analysts at Goldman Sachs remain bullish, citing Malaysia’s resilience amid global energy shocks and close trade ties with Singapore.

4. AROUND THE WORLD 🌎

The US, Iran, Israel, and everyone else
Iran issues evacuation warnings to Gulf oil facilities
The warnings, which were issued to several oil facilities across Saudi Arabia, the UAE, and Qatar, requested that citizens, residents, and employees immediately leave the areas and move to a safe distance, claiming there would be strikes “in the coming hours”. Iran said that the facilities became “direct and legitimate targets” after Iranian oil facilities in South Pars and Asaluyeh came under attack by the US and Israel.

Meanwhile, Iran’s foreign minister, Abbas Araqchi, called for a new protocol for the Strait of Hormuz after the war ends. He said that the protocol is to ensure safe passage through the narrow waterway is carried out under certain conditions aligned with Iranian and regional interests. The minister also said an end to the war was only conceivable if the conflict ends permanently across the region and Iran receives compensation for damages incurred.

Top official claims US started Iran war due to Israeli pressure
Former National Counterterrorism Center head Joe Kent resigned in protest of the Iran conflict and is the first senior official in Trump’s administration to do so. He said that Iran “posed no imminent threat” to the US, and claimed in a letter posted on social media that it is clear that the US started the war “due to pressure from Israel and its powerful American lobby”. White House spokesperson Karoline Leavitt said the letter included false claims, adding that US President Donald Trump had “strong and compelling evidence” that Iran was going to attack the US first.

Trump, allies attack press over unfavourable news
Trump and his allies are now attacking news organisations for their coverage of the Iran war. While it is nothing new for Trump to criticise news coverage he dislikes, his recent comments mark an escalation of threats against the news media. Senior officials in his administration have done the same, such as Defence Secretary Pete Hegseth, who singled out CNN at a news conference. An X post by US Federal Communications Commission Chairman Brendan Carr was equally concerning, as he said “fake news” broadcasters have a chance to “correct course before their licence renewals come up”. The commission has not revoked a broadcast TV station licence in more than 40 years. Any attempts to do so would likely be met with lawsuits grounded in the First Amendment, which protects the freedom of the press.

China trip delayed, Beijing fine with it, says Trump
Trump has confirmed that he is delaying plans to meet with Chinese President Xi Jinping at the end of the month to focus on the Iran conflict. He confirmed that his administration is in contact with Beijing, and that they were fine with the delay. The visit is now scheduled for the end of Apr. A senior researcher of US-China relations said that the US campaign on Iran was expected to enhance Trump’s negotiating posture with Xi by underscoring his willingness to take dramatic, unexpected actions. However, the foreign policy gambit has failed, with Trump now calling on Xi for help to reopen the Strait of Hormuz in the face of one of the most severe oil supply shocks in history.

USD15,000 visa bond now applies to 50 countries
The Trump administration has expanded the list of countries covered by the expanded visa bond programme, adding 12 more to the existing 38. The new additions are Cambodia, Ethiopia, Georgia, Grenada, Lesotho, Mauritius, Mongolia, Mozambique, Nicaragua, ​Papua New Guinea, Seychelles, and Tunisia. The programme, which requires foreign nationals from the list of countries to pay USD15,000 (RM58,875) for a B1 or B2 visa for business and tourism, goes into effect on Apr 2. The aim of the bond is to prevent visitors from overstaying their visas.

AI business
Mystery AI model sparks speculation of DeepSeek's next-gen system
The recent appearance of a powerful AI model called Hunter Alpha on a developer platform has sparked speculation that Chinese startup DeepSeek is quietly testing its next-generation system ahead of an official launch. It was described as a stealth model by the developer platform and had no identified developer. The model’s specifications, which included using roughly one tril adjustable values to generate responses, resemble expectations in local media for DeepSeek’s next-generation V4 model, which could reportedly launch as early as Apr.

Samsung, AMD ink deal on AI memory, explore foundry partnership
The deal will see Samsung becoming a key next-generation high-bandwidth memory supplier for AMD’s upcoming AI chips, with the two tech giants also discussing opportunities for a foundry partnership, under which Samsung could provide contract chip manufacturing services for next-generation AMD products. The agreement follows an earlier announcement by Nvidia CEO Jensen Huang about a foundry partnership between Nvidia and Samsung.

Nature matters
Singapore offers cash refund for plastic bottles in bid to boost recycling
The Singapore government will set up more than 1,000 machines islandwide as part of the Beverage Container Return Scheme, with plans to increase the number of machines to 2,000 within the first year. Each plastic and metal container returned will earn a refund of 10 Singapore cents (31 sen). The city-state expects this plan to cover more than one bil beverage containers used each year, which would recover more than 16,000 tonnes of material annually that would otherwise be burnt. This follows Singapore’s overall recycling rate falling to 50% in 2024, the lowest in at least a decade.

Declassified CIA files detailed American plans to control the world through weather manipulation
CIA documents declassified in 2003 discuss the controversial topic of weather modification as a weapon of war, leading conspiracy theorists to conclude that the US government has been “poisoning the sky and controlling the weather”. The documents, which were from 1965, also noted that the weather control programme would receive more funding in 1967, which coincided with the US spraying toxins over Vietnam to cause floods and landslides. The US government has maintained that weather modification has been used only to help weaken dangerous storms and induce rain in drought-stricken areas. However, conspiracy theorists have accused the government of poisoning food supplies through “chemtrails”, the white streaks seen coming from high-flying jets on clear days that appear to spread out and dissipate very slowly.

5. FOR YOUR EYES 📺

1. What to do when the market rallies but your portfolio ain’t going anywhere?

2. What happened to the stock market in previous major oil shocks?

3. Throwback to 18 Mar 2020 - when the country first entered its first MCO.

Selamat Hari Raya Malaysia! Enjoy the celebration and safe travels! Here’s the muhibah version of Alamak Raya Lagi. See you next week!