☕️ Anwar: Government, GLCs to WFH starting Apr 15

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

26.7% – That’s the percentage of women in Malaysia of reproductive age who do not want to become pregnant but are not using contraception. These data, provided by the Global Gender Gap Report 2025, shows that Malaysia has one of the highest rates of unmet family planning (a situation where women don’t want to get pregnant but are not using contraception, increasing the risk of unintended pregnancy) in Southeast Asia. A government study found that lack of interest in using contraceptives and the fear of their side effects are among the top reasons why women do not want to use them. In another survey conducted in 2014, about ~11% of family planning decisions is made solely by the husband. Read the Global Gender Gap Report here.

USD852 bil (RM3.43 tril) – That’s OpenAI’s valuation following its latest funding round, in which it raised USD122 bil. This also marks the company’s largest funding round to date. The largest contributor was Amazon with a USD50 bil investment, while Nvidia and SoftBank Group each chipped in USD30 bil. However, USD35 bil of Amazon’s investment is contingent on OpenAI going public or reaching the technological milestone of artificial general intelligence. The OpenAI funding round is also one of the largest transactions in history. View the largest 5 fundraising rounds here.

10 stocks – Nearly 40% of the S&P 500’s weight comes from its ten largest stocks, making this the highest concentration in the stock market since the Great Depression. What’s more, if SpaceX, OpenAI, and Anthropic all IPO this year, that concentration could near 50%. Currently, the top ten consists of the Magnificent Seven of tech stocks, joined by names like Broadcom and Berkshire Hathaway. The last time the stock market was this concentrated, the ten largest stocks included names like AT&T, General Motors, and DuPont - the old economy, replaced with new economy. But in Malaysia, the largest companies remain the same players. Says a lot about the state of innovation of the country.  

3. IN MALAYSIA 🇲🇾

Energy crisis? WFH and higher electricity bills!
Anwar: Work from home starting Apr 15
PM Anwar announced via a video message that government servants and GLC employees will implement work-from-home (WFH) arrangements starting Apr 15.

He said it was a Cabinet decision amidst rising fuel costs and supply risks due to the crisis in West Asia involving Israel, the US and Iran, which has disrupted global supply chains. Fuel prices have risen sharply all over the world, including in Malaysia, but the government has managed to maintain the RON95 petrol price at RM1.99, so far, though the allocation was reduced to 200L from 300L per citizen.

Anwar said the government is cushioning the impact of the global energy crisis through the People’s Support Initiative, with an additional allocation of RM4 bil per month to absorb rising global oil costs and ensure the public is not burdened by sudden price increases.

“We must accept the reality that the situation is not as usual. If circumstances are worrying, then we must respond accordingly and adhere to our plans,” he said in the video message.

Anwar said the WFH measure would be implemented in phases and on a selective basis and urged the private sector to follow suit. Other Southeast Asian countries such as Myanmar, Thailand and Indonesia have already implemented WFH practices since the crisis began.

Penang holds off while Pahang rolls out WFH scheme
In Penang, civil servants won’t be working from home for now. Penang CM Chow Kon Yeow said some work isn’t suitable to do remotely and there’s no urgent need yet, even with fuel prices on the rise. The option is still being studied, and the state may revisit it later.

Pahang, meanwhile, is going ahead with a two-day-per-week WFH arrangement starting next week. Pahang MB Datuk Seri Wan Rosdy Wan Ismail said schedules will be organised to keep services running smoothly. Department heads will manage the plan and productivity will be monitored. He also encouraged private companies to consider flexible work arrangements where possible.

Electricity, fuel and red tape under the spotlight
Heads up, Malaysians, your electricity bill is going up a little this month. Tenaga Nasional Bhd (TNB) said the automatic fuel adjustment (AFA) rebate for Apr is just 0.47 sen per kWh, down from 2.15 sen in Mar. That means bills will be slightly higher for most households, though low-consumption users under 600 kWh per month and green electricity subscribers are off the hook. 

The Energy Commission said that global coal and gas prices, pushed up by West Asia conflicts, are making power more expensive. Domestic gas prices are capped, but imported gas from Australia still follows market prices. With summer approaching, the use of air-con will push demand even higher, though supply from Indonesia and Australia is secure. TNB expects rebates to dip even further in the next few months.

On a related note, Chief Secretary to the Government Shamsul Azri Abu Bakar is reviewing business licence applications, especially for sectors hit by the energy crunch. Fahmi Fadzil said the aim is to cut the unnecessary back-and-forth with multiple agencies. Any slow or unreasonable process will be streamlined and final proposals submitted to the Cabinet soon.

Quit BAM early: pay up or face ban
Shuttlers who decide to leave the national team before their contracts expire may soon have to dig deep into their pockets. The Badminton Association of Malaysia (BAM) is set to enforce existing clauses that require players to compensate the association if they quit early. Fees could range from RM300,000 to RM500,000 depending on world ranking. Those who refuse might face up to a two-year ban from international tournaments.

BAM president Tengku Zafrul said the principle is rooted in fairness, noting that the association invests millions to develop players from grassroots to professional level. He compared the system to corporate scholarships, where leaving before fulfilling the service period requires repayment. In the past, independents such as Lee Zii Jia and Goh Jin Wei were handed two-year suspensions in 2022, though both bans were later lifted without financial penalties. Women’s doubles player Go Pei Kee, however, was allowed to leave without paying a fee. Tengku Zafrul said the policy, which has long existed in the books but not strictly enforced, will now be applied firmly to protect the association’s long-term investment in elite players.

SRC International chases Najib for USD1.3 bil
SRC International Sdn Bhd is ready to take action against former PM Najib Razak if he does not repay USD1.3 bil (RM5.23 bil) ordered by the High Court. The company’s lawyer, Kwan Will Sen, said they are focusing on an interim stay while Najib appeals the decision. Once the stay ends, SRC can start execution proceedings, which could include seizing and selling Najib’s assets.

The High Court recently ruled that Najib must repay USD1.18 bil (RM4.77 bil) in losses from SRC’s funds and USD120 mil (RM481 mil) that went into his personal account. Judge Datuk Ahmad Fairuz Zainol Abidin said Najib used the company’s RM4 bil loan from the Retirement Fund Inc for his personal gain and controlled the board through loyal directors. Najib plans to appeal the ruling, which means the payment is on hold for now. In 2020, he was sentenced to 12 years in jail and fined RM210 mil for SRC offences, though both were later reduced by the Federal Territories Pardons Board. If you are wondering why there isn’t jail sentence, this is a civil suit, brought against Najib by SRC International.

Klang crash drunk driver faces murder charge
A 28-year-old man has been charged with murder after a fatal crash in Klang last Sunday, Mar 29. Saktygaanapathy Ravichandran is accused of causing the death of 33-year-old motorcyclist Amirul Hafiz Omar. The charge carries either the mandatory death penalty or 30 to 40 years in prison, plus at least 12 strokes of the cane. The incident reportedly happened at around 11.40am when Saktygaanapathy, allegedly under the influence of drugs including benzodiazepines and THC, drove against traffic and collided with Amirul’s motorcycle on Jalan Raya Barat. The impact was so severe that Amirul somersaulted through the air and landed on the roof of a passing car, dying at the scene. Saktygaanapathy pleaded guilty to the drug charge but made no plea for murder, which is handled by the High Court.

In another road incident on the same day, an 85-year-old was pulled out from an overturned car in Bandar Utama, Petaling Jaya, just in time before the car went up in flames - watch here. The cause of the accident is not known.

In another road incident, Fast & Furious at KLIA - police car chase, rammed into several public vehicles.

4. AROUND THE WORLD 🌎

Iran and everywhere else
US to leave Iran?
US President Donald Trump told members of the media that the US will be “out of Iran pretty quickly”, but could return for “spot hits” if needed. He made the statement hours before he was scheduled to make a primetime address to the nation. Trump claimed that US actions have ensured Iran will not have a nuclear weapon, adding that Iran is now incapable of developing one. The president also claimed that Iran’s new leader has just asked the US for a ceasefire. He said that the US will consider the ceasefire when the Strait of Hormuz is “open, free, and clear”. Until then, the US will be “blasting Iran into oblivion”. Again and again, Iran denied there was any talk.

Trump threatens NATO exit over lack of support
The US president said he was considering pulling the US out of NATO due to the alliance’s European members refusing to send ships to unblock the Strait of Hormuz. This has caused tensions to flare up, with Trump also calling NATO a paper tiger and saying that Russian President Vladimir Putin knows this as well. Experts have long warned that remarks suggesting that the US might not honour its NATO commitments could encourage Russia to test the readiness of other NATO members. The Iran war has further frayed tensions between the US and its European allies in NATO, widening the rift caused by Trump’s insistence on acquiring Greenland. And Putin must be smiling.

Troubled tech
Baidu system malfunction causes robotaxis to stop mid-traffic
At least 100 self-driving cars stopped mid-traffic in a mass robotaxi outage in the Chinese city of Wuhan, with initial findings by local police indicating the cause was a system malfunction. Baidu, which operates the Apollo Go driverless taxi service, had not commented at the time of writing. The incident has sparked renewed debate around the safety of driverless vehicles.

Oracle axes 18% of global staff
Thousands of Oracle employees woke up to an email informing them they no longer had jobs, with no prior warning from managers or human resources. The email reached about 18% of Oracle’s 162,000-strong global workforce, or roughly 29,000 people were laid off. Within hours, access to company systems, including email and internal files, was cut off, with employees instructed to provide personal email addresses to receive separation documents. These layoffs come as Oracle embarks on an aggressive and costly push into AI infrastructure. The firm has taken on USD58 bil (RM233.57 bil) in new debt over just two months. The job cuts are expected to free up between USD8 bil and USD10 bil in cash flow. Oracle reported a net income of USD6.13 bil in its last quarter, a 95% jump.

Prolonged screen use may increase chances of autism-like symptoms in toddlers
Researchers from the National University Hospital of Singapore have found that prolonged exposure to screens has the most pronounced effect on how toddlers communicate with others. This can manifest as symptoms similar to autism, with toddlers not pointing at objects to show interest, showing their toys to parents, or failing to respond when their name is called. The study found that, on average, children between 17 and 24 months old in Singapore had one hour and 18 minutes of screen time a day, with usage spiking to an average of one hour and 26 minutes on weekends. This exceeds Health Ministry guidelines that recommend zero screen time for children under 18 months, and less than an hour a day for children aged 18 months to six years. It’s not permanent, though - a separate Romanian study in 2018 noted that, once screen time was limited, children exhibiting symptoms of “virtual autism” improved substantially in terms of social communication.

Shorts:

1. Italy falls short of World Cup entry again
   Four-time World Cup winners Italy failed to qualify for the third consecutive time. The latest match saw them lose 4-1 on penalties to Bosnia and Herzegovina after being reduced to ten men before halftime. The Italian team has largely disappointed in international tournaments since winning the World Cup in 2006. Meanwhile, Iraq celebrated their World Cup qualification with a thrilling 2-1 victory over Bolivia, becoming the 48th and final team to qualify. This comes as Iraq was pulled into the hostilities of the Iran war, with at least 100 people in Iraq killed since the fighting began.

2. Google allows username changes
   The tech giant will allow eligible users to change the username associated with their email account, basically the string of letters and numbers before ‘@gmail.com’. This change will also apply to email IDs used to sign in to Google’s apps and services. However, the feature is only available to US users at this time. For a step-by-step guide, head here.

3. Japan finally allows shared custody in landmark law revision
   A revision to Japan’s Civil Code now allows divorced couples to share custody of their children. Before the amendment was approved by parliament in 2024, Japan had been the only G7 country that did not recognise the legal concept of joint custody. Custody was typically granted to one parent, usually the mother, who had the power to cut off the other parent’s access to their children. This sole custody system drew mounting domestic and international criticism, with critics calling it the cause of many divorced parents becoming estranged from their children after losing custody.

5. FOR YOUR EYES 📺

Plan your weekend

1. Mini safari 40 mins away from KL at Gamuda Coves.

2. An interesting activity for the kids, and also adults to power the mind and body.

3. Tropical house retreat smack in the middle of KL in Bangsar. Feels like forest, but in KL.