☕️ Albert Tei drops another bombshell video involving Sabah minister

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

2.2%. That’s how much prices dropped in the Chinese property market in Sept. The continued property weakness has been weighing on consumer confidence, which builds the case for policymakers to shore up the property market amid global trade threats. This is despite China’s new home prices falling at their fastest pace in 11 months. Sept and Oct are traditionally the peak season for property buying as well, with sales campaigns launched by developers during national holidays.

The sub-RM500,000 segment of the residential sector accounted for 77.4% of all transactions in the first half of 2025. This overwhelming majority underscores the segment’s critical role as the foundation of the total residential sector of Malaysia’s property market. Looking ahead, the segment is expected to remain resilient, underpinned by steady demand and a raft of government initiatives under Budget 2026 and the 13th Malaysia Plan. These include the extension of the stamp duty exemption and the government’s plan to build one mil affordable housing units between 2026 and 2035.

41st. Malaysia’s current rank in the 2025 International Property Rights Index. This marks a drop of 11 places from 30th place in 2024. Malaysia’s score fell 4% overall, indicating a slight deterioration across several sub-indicators that assess the strength of legal institutions and protection of property rights. In the Asia and Oceania region, Malaysia is still ranked 7th, holding on to the regional position despite the drop in global position. The index, released by the Property Rights Alliance, ranks the comparative strength of property rights protection in 126 countries. It is structured around three main pillars, namely the legal and political environment, physical property rights, and intellectual property rights.

3. IN MALAYSIA 🇲🇾

Albert Tei drops another bombshell video involving Sabah minister
Businessman Albert Tei is back again with another shocking video, and this time he’s dragging Sabah’s caretaker Youth and Sports Minister, Ellron Angin, right into the middle of it. The two-minute clip, shared on Facebook, shows Tei and Ellron chatting casually, but what they’re talking about is anything but casual. Tei claimed he had already given Ellron RM530,000 in total, including RM30,000 to buy a shop. At one point, Tei asked if Ellron remembered getting part of the money to buy a car, and Ellron simply said, “I remember,” though he could not recall how much exactly. Tei then mentioned that RM400,000 was given in cash and another RM100,000 was transferred through an agent. Things got even juicier when Tei brought up a company share allegedly given by Sabah CM Hajiji Noor to Ellron. He suggested that Ellron received a 10% stake to support Hajiji, and Ellron seemed to agree.

Albert Tei is already well-known in Sabah for several scandals. He was charged along with two state assemblymen, in a RM350,000 mining bribery case involving nearly 1 mil acres of mineral prospecting licences and falsified documents. He has also faced entry bans into Sabah, which he claims were politically motivated to interfere with his court cases. While positioning himself as a whistleblower exposing corruption, Tei’s covert videos implicating politicians have raised questions about his own role and motives. His actions have stirred political tensions, with multiple accusations and counter-accusations between him and Sabah political leaders. Ellron has denied receiving any money, calling the allegations baseless slander. The video comes ahead of the state election and adds to ongoing investigations into the Sabah corruption scandal, which has already led to charges against several politicians.

Catch the video here.

Where there’s smoke: students and the vape issue

Vape rings hit the schoolyard: Vape syndicates in Malaysia are turning schools into new business grounds by recruiting students to sell vaping products for commissions. The trend is spreading fast as more teens pick up vaping, raising public health concerns. According to 2024 data from the Malaysian education system, around 20,000 students were caught vaping in schools, five times more than those caught smoking cigarettes. The figures show vaping has overtaken traditional smoking among students. Syndicates reportedly take advantage of this by approaching financially vulnerable teens, offering them easy money to sell vape pods and devices to friends, though it’s not reported how much can one earn.

Teen dealers and smuggling networks: Several cases have emerged across Malaysia where students were caught selling vape products in schools. Vape smuggling networks are known to operate in an organised way, renting spaces in different states to repackage illegal vape products. Many also recruit young people as couriers and sellers, taking advantage of their need for money to grow their operations. Malaysian authorities have carried out numerous raids, seizing large amounts of illegal vape liquids and cartridges, and charging those believed to be involved.

Health fears and weak enforcement: Health experts say the availability of flavoured vape products and peer pressure play major roles in rising teen addiction rates. In response, the Malaysian government introduced the Control of Smoking Products for Public Health Act 2024, which bans vape sales and use by minors and restricts vaping near schools. Despite the new law, enforcement remains a challenge. With syndicates targeting students directly, the growing overlap between youth culture and the illegal vape trade continues to be a key issue for schools and health authorities.

See you in court: Penang CM vs Kedah MB
Penang CM Chow Kon Yeow is at it again, firing back at Kedah MB Muhammad Sanusi after he renewed his claim that Penang actually belongs to Kedah. Chow didn’t hold back, telling reporters at his Komtar office, “See you in court,” echoing the same line he used three years ago when Sanusi first floated this idea. For a bit of backstory, Sanusi first made this claim around 2022, after Penang asked Kedah to protect its water catchment forests in Ulu Muda. Things got tense when Penang’s water company, PBAPP, visited the forest reserve. Sanusi accused Penang of interfering with Kedah’s sovereignty and demanded financial compensation, claiming that Penang and Seberang Perai were “leased” from Kedah. At first, he asked for RM50 mil a year, later doubling it to RM100 mil.

Over the years, he has repeated the claim multiple times, citing historical agreements from the 18th and 19th centuries when Penang was under the Kedah Sultanate before the British stepped in. Chow, however, insists that Penang’s sovereignty is protected under the Federal Constitution and that Kedah has never submitted any legal papers or petitions to back up the claim. He said Penang’s legal team is ready to respond if any notice comes, and they will seek advice from the state legal adviser before taking further action. Sanusi reportedly says Kedah is preparing a legal team to start action based on historical facts. Meanwhile, Penang continues to pay Kedah RM10 mil annually as an honorarium, far below Sanusi’s RM100 mil demand. And the Muda River water issue? Sanusi hasn’t forgotten that either, repeatedly demanding compensation for water flowing from Kedah to Penang and Seberang Perai.

Shorts

1. New pandas on-the-way

   Malaysia is getting a fresh pair of giant pandas this Nov, thanks to a new 10-year loan deal with China. The previous stars, Fu Wa and Feng Yi, wowed visitors at Zoo Negara for 11 years before returning home in May. Deputy Minister Datuk Seri Huang Tiong Sii says the new pandas will help with research on protection and breeding while keeping the China-Malaysia friendship going strong - panda diplomacy. 

2. KL traffic jam? Not for long

   Kuala Lumpur is getting a major traffic boost with the RM1.7 bil New Pantai Expressway Extension, or NPE 2, set to be ready by 2029. Covering 6.4km along the main route, it could save drivers up to 25 minutes from Bangsar or Mid Valley to Subang Jaya. Works Minister Alexander Nanta Linggi says it will also spark local growth and feature a smart AI-driven toll system for smoother, safer journeys. No more jams? You sure, ah?

4. AROUND THE WORLD 🌎

Ceasefire issues
Thai-Cambodia border tensions escalate, at least one dead
Both countries are accusing each other of opening fire along a disputed part of their border, resulting in at least one dead. Thailand has demanded an apology from Cambodia after accusing the latter of laying fresh landmines, a charge that Cambodia has denied. The event also threatens the truce only recently brokered during the ASEAN summit in Oct.

France to help Palestinians draft constitution for future state
French President Emmanuel Macron has offered his nation’s assistance to the Palestinian Authority to draft a constitution for a future state, following talks with Palestinian President Mahmoud Abbas in Paris. The two countries will be setting up a joint committee to work on the constitution, with France also contributing EUR100 mil (RM478.9 mil) in humanitarian aid to Gaza for 2025. As much as the constitution is a great thing, maybe some electricity to Gaza would help? The enclave has been without power since the war broke out over two years ago. As a result, most family activities, including cooking, end when the sun goes down.

Suicide bombing in Pakistan capital kills 12, stokes regional tensions
A suicide bomber killed at least 12 and wounded 27 in Islamabad after blowing himself up outside a court in the city. He was reportedly trying to enter the building but failed to do so, leading to the device he carried being detonated outside. Another attack at a military school to the northwest killed three when a suicide vehicle rammed the main entrance. Militants then entered the school, trapping hundreds. Pakistan has accused Afghanistan of complicity in these acts, with Kabul denying any connection.

Business
Mercedes AMG Petronas CEO in talks to sell part of F1 stake to Crowdstrike CEO
Toto Wolff is reportedly in advanced talks to sell part of his 33% stake in Mercedes F1 to Crowdstrike CEO George Kurtz. The deal would value the Formula One team at a record USD6 bil (RM24.8 bil). The initial report indicated that Wolff was planning to bring an outside investor into the holding company that owns his stake, with said investor to take up about 5% of the F1 team. Wolff would maintain his roles as team CEO and team principal. A back-of-the-envelope calculation values the deal at USD300 mil to buy the 5% stake, which reaches that USD6 bil valuation.

Self-driving truck firm to go public at USD1.8 bil valuation
Swedish autonomous trucking company Einride will be going public in the US through a SPAC merger with blank-check firm Legato Merger Corp III. The deal values Einride at USD1.8 bil (RM7.4 bil). The firm looks to raise USD100 mil through the listing, which will be bolstered by the USD100 mil Einride raised in Oct from existing and new institutional investors. Existing shareholders are expected to own around 83% equity after the deal closes, with no change in management set to happen. Einride was founded in 2016 and is headquartered in Stockholm, Sweden. The firm’s business is based on self-driving technology for freight trucks, and it has a fleet of around 200 vehicles.

Shorts:

1. Ukraine charges seven in USD100 mil energy graft scandal 
   The seven were charged for their involvement in an alleged USD100 mil (RM413.7 mil) kickback scheme involving senior energy officials. Accusations of kickbacks are especially sensitive with the broader public, who are facing lengthy daily blackouts across much of the country due to Russia’s attacks on Ukraine’s energy system. Prime Minister Yulia Svyrydenko has ordered an audit of the Energoatom nuclear agency, with the supervisory board dismissed. Justice Minister German Galushchenko, who was previously the energy minister, has been suspended for the duration of the investigation, despite not being among the seven being charged.

2. Turkish military plane crashes, authorities confirm all 20 dead 
   A Turkish C-130 military cargo aircraft crashed in Georgia, and Turkish authorities have confirmed that all 20 personnel on board have died. Investigators are already at the site to examine the crash in a bid to find the cause of the accident. The crash marks Turkey’s deadliest military incident since 2020. The plane had just taken off from the Azerbaijani city of Ganja, and the air traffic control service from Georgia said the aircraft disappeared shortly after it entered Georgian airspace, with no distress signals sent before the crash.

3. Tehran faces worst drought crisis in decades
   Iran is grappling with its worst water crisis in decades, with officials warning that Tehran, a city of over 10 mil, may soon be uninhabitable if the drought continues. President Masoud Pezeshkian has cautioned that, if there is no rainfall by Dec, the government has to start rationing water in Tehran. The water crisis is not solely due to a scorching hot summer, as the country has a history of decades of mismanagement, including the overbuilding of dams, illegal well drilling, and inefficient agricultural practices, which have depleted reserves.

5. FOR YOUR EYES 📺

1. A common fallacy I hear often on property investment. The math doesn’t math. Interesting insights from Stay Woke Property.

2. The facade of Hermes Tokyo.

3. A bit of motivation, if you feel everything is against you at the moment. Don’t give up.