☕️ Are Klang Valley landlords racist?

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

More than 2.85 mil – That’s the number of Malaysian children aged between five and 19 who were overweight or living with obesity in 2025, according to the World Obesity Atlas 2026. The report warned that the rising prevalence of childhood overweight and obesity in Malaysia could lead to serious health risks. It estimates that 305,000 Malaysian children may show early signs of hypertension by 2040, while 382,000 would develop signs of cardiovascular disease. Southeast Asia was also marked as a region with one of the fastest increases in childhood obesity between 2025 and 2040. The report estimates that the number of children with obesity in the region could reach 40 mil by 2040. Read the report here.

More than 94 mil – According to the World Health Organization, that’s the number of people who have cataracts worldwide. However, half of them do not have access to the surgery needed to fix it. The situation is worst in the African region, where three in four people needing cataract surgery remain untreated. Cataracts, the clouding of the eye’s lens that causes blurred vision and can lead to blindness, are becoming more common as populations age. Corrective surgery for this ailment is a simple 15-minute procedure that is one of the most cost-effective medical procedures. It is also one of the most frequently performed surgeries undertaken in high-income countries.

RM3.85 – That’s the current price of RON97 petrol, representing a hike of more than 18%, or 60 sen per litre. This follows a government adjustment to domestic fuel prices in response to the sharp surge in global oil prices caused by tensions in the Middle East. The new price is effective for the pricing period between March 12 and March 18. Unsubsidised RON95 petrol also increased by more than 22%, rising 60 sen to RM3.27 from RM2.67. However, those covered by the Budi95 subsidy programme will continue to pay RM1.99 per litre for RON95 petrol. Diesel prices in Peninsular Malaysia rose by almost 26% to RM3.92 per litre, while subsidised fuel in Sabah and Sarawak remains at RM2.15 per litre. Subsidised diesel prices will also remain unchanged for the public land transport and goods logistics sectors in Peninsular Malaysia.

3. IN MALAYSIA 🇲🇾

Corporate Drama
Former SCIB executive charged
The Securities Commission (SC) has charged former Sarawak Consolidated Industries Bhd (SCIB) MD and CEO, Rosland Othman, with furnishing false statements with regard to the Interim Financial Report on Consolidated Results for the Quarter Ended June 30, 2021, when he was a director of SCIB. Should he be convicted, he could face a maximum of 10 years in jail and be liable to a fine of not more than RM3 mil.

Serba Dinamik Holdings Bhd MD Mohd Abdul Karim Abdullah, who is also a former chairman and director of SCIB, was also issued a warrant of arrest for the same offence as Rosland. However, Abdul Karim is currently at large. Not surprisingly, Abdul Karim was previously charged with furnishing false information in 2021 in relation to the financial statements of Serba Dinamik. However, the case was settled via a compound of RM3 mil.

But, wait. Since when could SC render charges? Under the Securities Commission Act 1993, the SC was granted investigative and enforcement powers. Its regulatory authority was significantly enhanced in 1998 with the power to take civil action, and later enhanced again through the Capital Markets and Services Act 2007.

Boardroom tussle at the company that supplies our MyKads and passports
NexG Bhd - the company that holds government contracts worth RM2.4 bil to supply MyKad and passports - saw its board suspend the executive powers of its executive chairperson and CEO, Abu Hanifah Noordin, to facilitate a probe into some of his investments. These include NexG’s investments in MMAG Holdings in March 2025, the same month prominent businessperson Farhash Wafa Salvador Rizal Mubarak became MMAG’s largest shareholder, as well as in Classita Holdings Bhd, now NexG Bina Bhd. Both investments were loss-making.

However, the suspension of Hanifah’s powers was actually driven by other factors. Before the suspension, Hanifah wanted to appoint Ishak Ismail and one of his sons to become board members. This was a bid by Hanifah to expand his control of the board, alongside current members such as Siti Nur Aisyah, who is Ishak’s daughter, and a representative from Velocity Capital Bhd, the company MACC chief commissioner Azam Baki once held shares in. Ishak’s sons control Raya Aviation, which is the largest shareholder in NexG with a 20.4% stake.

The board later reinstated Hanifah’s powers, but in return, the seven board members Hanifah had wanted to axe to make way for the new members resigned en masse. Ishak’s entry into NexG, via the acquisition of NexG by Raya Aviation, reportedly triggered Farhash’s camp, which was the group of directors who resigned. The tussle between the two camps was ended when PM Anwar Ibrahim allegedly instructed Farhash to withdraw, giving Ishak the space to lead NexG. PM Anwar allegedly wanted to avoid getting embroiled in another scandal in addition to the one his administration is facing.

So many racist landlords in the Klang Valley
According to a report by Architects of Diversity (AOD) titled “Room Rental Discrimination: Volume 1 Klang Valley”, over 40% of room rental listings carried explicit racial exclusions, based on a sample size of over 30,000 room rental listings. 42.8% contain explicit racial exclusions, exceeding the share of listings that welcome all races (22.6%) and those with no stated preference (34.6%). Indians faced the most discrimination, with 31.7% of all listings in the Klang Valley explicitly excluded them, compared to 7.6% for Malay renters and 3.9% for Chinese renters. Non-discriminatory listings come at a price, as those units are 11.2% more expensive on average. The report added that no area in the Klang Valley is free from discrimination. Even in Sentul, the area with the lowest Indian discrimination rate, 8.5% of listings still exclude Indian renters. Full report here.

Shorts

1. Most Bumiputera firms stuck at micro scale despite decades of aid

   According to a report by the Institute for Democracy and Economic Affairs (IDEAS), 88% of Bumiputera-owned firms have yet to grow beyond the smallest business tier, despite decades of government assistance. One of the identified reasons is the high dependency of Bumiputera firms on contracts from GLCs via initiatives such as the Vendor Development Programme (VDP), instead of expanding into the broader private sector. For example, 53% of vendors linked to national carmaker Proton Holdings Bhd in the programme rely almost entirely on the company for revenue, with vendors tied to conglomerate Boustead Holdings Bhd showing similar patterns.

2. The US investigates Malaysia for manufacturing overcapacity

   The US has initiated investigations into the acts, policies, and practices of 15 economies, including Malaysia and the EU, under Section 301(b) of the Trade Act of 1974, relating to structural excess capacity and production in manufacturing sectors. Why is manufacturing overcapacity evil in the eyes of the US? Manufacturing overcapacity, like what China did with EVs, solar panels, and steel, can affect the competitiveness of similar products produced by other countries because the goods produced may be cheaper due to state subsidies and overall lower production costs. While this action may be valid, it looks like another tool that the Trump administration is deploying after its tariffs were deemed illegal by the US Supreme Court.

4. AROUND THE WORLD 🌎

Is Iran using China’s high-precision BeiDou navigation system?
Intelligence experts believe Iran may have been provided access to China’s BeiDou satellite navigation system (BDS) because Iran’s targeting has become much more accurate since the 12-day war with Israel in June. This has not been confirmed by Iran. BDS reportedly offers worldwide coverage and works by transmitting timing signals from satellites to receivers on the ground or in vehicles. By measuring the time it takes for signals from several satellites to reach the receiver, the system can calculate a precise geographic position, the same method used by GPS and other systems. However, China’s system is said to use far more satellites than other navigation systems. While the US GPS system has 24 satellites providing data, the Chinese system relies on 45. Analysts also say the BDS is believed to have a margin of error of less than one metre. BDS also has a short message communication tool that allows operators to communicate with drones or missiles as far away as 2,000km while they are in flight, which means they can be redirected after launch. China started development of its own navigation system after the 1996 Taiwan crisis as it feared Washington could restrict access to GPS in the future.

Will the largest oil reserve release help tame surging prices?
The International Energy Agency (IEA) announced the largest release of emergency reserves in history yesterday - 400 million barrels to help stabilise prices amid the Iran war. Market analysts are saying that it may offer some relief in the short-term, but will likely have a minimal effect on lowering prices if the Strait of Hormuz remains effectively closed. About 20 mil barrels of oil pass through the strait each day under normal circumstances, but after 12 days of war, the global shortfall already exceeds 200 mil barrels – more than half of the IEA’s planned release. There are also constraints on how quickly the IEA’s 32 member countries will be able to get fresh supplies to the market. If the disruption persists and the market begins to doubt that replacement supply is sufficient, history shows prices can move sharply higher again. At the time of writing, Brent crude was hovering around the USD100 (RM392.70) mark.

More worldwide disruptions due to the Iran war
Higher fertiliser prices mean higher food prices: The blockade at the Strait of Hormuz has also disrupted the flow of fertiliser products used by global agriculture, like urea, ammonia, sulfur, nitrogen, and phosphates. Farmers need these fertilisers for corn, wheat, cotton, and other staple crops. The Fertiliser Institute explained that nearly 50% of global urea and sulfur, as well as 20% of natural gas, a feedstock for nitrogen fertilisers, travels through the Strait of Hormuz.

Iran’s heritage sites in danger: The United Nations Educational, Scientific and Cultural Organisation (UNESCO) is deeply concerned about the fate of world heritage sites in Iran and across the region. Tehran’s Golestan Palace, often compared with the Palace of Versailles in France, has suffered damage in the war, along with a historic mosque and palace in Isfahan. Buildings close to the buffer zone of the prehistoric sites of the Khorramabad Valley have also been damaged. Iran has served as a cultural, artistic, and political hub for thousands of years, with major historical and archaeological sites indicating human habitation dating back 100,000 years.

Disruption in modern world travel: The war has also exposed the fragility of modern travel, with airlines having to navigate increasingly narrow flight paths, throwing their long-term growth plans into disarray. Flight restrictions can add hours to some flights, which means planes must carry more fuel. Carriers now have no choice but to increase fares as they add fuel surcharges to cover the ballooning cost. Bloomberg’s World Airlines Index has fallen more than 11% since the war.

Shorts:

1. Netflix may have paid USD600 mil for Ben Affleck’s AI startup
   Netflix has announced its acquisition of InterPositive, an AI company co-founded by Ben Affleck, in a deal that could be worth up to USD600 mil (RM2.36 bil). InterPositive makes tools that help filmmakers work more efficiently in post-production, but it doesn’t generate new content or use footage without permission. This acquisition fits Netflix’s broader push to integrate AI into content production. The most it has ever paid for a single acquisition was approximately USD700 mil for the Roald Dahl Story Company.

2. WhatsApp launches parent-managed accounts for pre-teens amid safety concerns
   Meta has announced that parents can now create accounts for pre-teens that are restricted to only messaging and calling as one way to address the negative impacts of social media and chat apps on children. Messaging apps have triggered concerns following hacking incidents where users were persuaded to divulge security verification and PIN codes, giving malicious actors access to personal accounts and group chats.

3. Beware of butsukari otoko in Japan
   A recent viral video of a child getting knocked over by a woman at Shibuya in Tokyo, Japan, has shed light on a “bumping” trend in the country, also known as “butsukari otoko”. The bumping phenomenon entered the Japanese public consciousness in 2018, where a man was recorded barging aggressively into several women at Shinjuku station. A 2024 survey of 21,000 men and women found that 14% had been victims of butsukari, while 6% said they had witnessed an assault, with 5% experiencing both. Experts attribute this to the stresses of modern life and changing gender politics in Japan, as well as Japan’s tourism boom.

5. FOR YOUR EYES 📺

1. Turning cockroaches into drones by Swarm Robotics.

2. Why is Penang so hot?

3. Sofyan levels up: Samsung ad, shot in San Francisco, done in 24 hours.

Have a good weekend! Evaluating this weekend’s couple activity: