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☕️ BNM: Faultless motorists can claim insurance without losing No-Claim Discount
Starbucks MY keeps bleeding, worst financial performance on record. US Court finds Trump tariffs illegal: Now what? Neighbours' politics: Deadly major riots in Indonesia, Thai PM removed yet again.
Good and bad news to start the week - from Sep 1 to Sep 16, get 50% discount on traffic police summons nationwide in conjunction with Merdeka and Malaysia Day celebration. Good on our pockets, but what kind of habits are we cultivating?
2. NUMBERS AT A GLANCE 🔢
Not even the art world is safe from change amid geopolitical turmoil, as auction sales in the first half of 2025 at USD4 bil (RM16.9 bil) are down 44% – over USD3 bil (RM12.7 bil) – compared to the corresponding period in 2022, and also marking the third consecutive year of decline. This comes at a time when the prosperity of the wealthy is at record levels, with the top 10% of Americans adding USD37 tril (RM156.3 tril) to their wealth since COVID. This shift also breaks a pattern going back 300 years, where art prices and financial wealth are “highly correlated”, according to a Yale professor. It is suggested that this pattern break is due to a generational shift in wealth from baby boomer art collectors to digital-savvy millennials and Gen Zers.
1,778,615 deaths were recorded in Malaysia between 2014 and 2023, according to Malaysia’s Statistics Department, with the highest number of deaths taking place in 2021 at 224,931, followed by 2022 with 206,780. Selangor recorded the highest number of deaths in 2022 and 2023 combined, with a total of 65,597, followed by Johor with 50,047 and Perak with 43,197. According to the chief statistician, Selangor also recorded the highest number of Muslim deaths in 2023 at 16,677. As Benjamin Franklin said, “Nothing is certain except death and taxes”.
The Health Ministry reported a rise in schizophrenia patients in Malaysia over the past five years. Measuring against 2021 as a baseline, 2022 saw a 3% increase to 7,468, 2023 saw a 17% increase to 8,481, and 2024 saw a 14.6% increase from the baseline to 8,303. 59.1% of the reported patients were Bumiputera, while Chinese and Indian patients comprised 24.4% and 5.8%, respectively. A schizophrenic patient created a simulator to illustrate what it feels like to have hallucinations - watch here.
Learn: What is schizophrenia?
3. IN MALAYSIA 🇲🇾
Sabah's "Justice for Zara" rally dwarfs state National Day celebration
While many Malaysians were focused on the Merdeka parade, which took place in Putrajaya, Sabahans had other plans during the Merdeka weekend. On August 31, tens of thousands of Sabahans converged at Kota Kinabalu’s city centre at the same time for 3 different events, causing traffic to remain gridlocked for hours.
On one side of the city were the attendees of the National Day parade and Sabah Day celebrations, and on the other side were those showing up for the “Justice for Zara 2.0” rally. While all 3 events drew attention, it was the Zara rally that was reported to have dominated in terms of sheer numbers and significance.
Observers suggested the stark contrast in attendance may have been influenced by the "No justice, no Merdeka" slogan that circulated widely on social media in the lead-up to the Merdeka season. Besides the rally at Likas in Kota Kinabalu, protestors at Lahad Datu, Tawau and Sandakan in Sabah also held separate vigils.
Housing and Local Government Minister: Urban Renewal Act can't wait
Pushing for the passing of the Urban Renewal Act, Housing and Local Government Minister Nga Kor Ming said Malaysia can no longer afford to delay in dealing with ageing buildings, outdated infrastructure and inefficient land use. The Urban Renewal Act will allow for redevelopment with just 80% approval from residents in an area, allowing areas like the dilapidated Desa Bakti in Selayang flats a second chance. According to Nga, many housing estates were built in the 1960s and 1970s, and after more than 50 years, their structures, utilities and facilities are no longer up to standard - urban renewal will give these communities a new lease of life (and goes without saying, better property value).
While the government works to revitalise old urban areas throughout Malaysia, it would also do well to consider the needs of Gen Z. According to property group Juwai IQI, 4 in 5 Gen Z Malaysians are choosing to buy condominiums or apartments. Notably, Juwai IQI co-founder and group CEO Kashif Ansari said the nearly 9 million strong Gen Z Malaysians will drive demand in the housing market for the next 20 years, and influence the way Malaysia’s cities and suburbs grow. In short, property is getting more unaffordable for the younger generations.
Biz
Starbucks Malaysia keeps bleeding, worst financial performance on record
Starbucks Malaysia, once seen as the crown jewel of Berjaya Food Berhad, with its best-ever results of a RM1 bil revenue and PBT of RM165.6 mil in FY23, has now become its biggest liability. The Israel-Palestine conflict, which started in 2023, triggered consumer boycotts against certain international brands perceived to have supported Israel, including Starbucks Malaysia. In FY25, Berjaya Food’s full-year revenue shrank to nearly RM477 mil, while the group booked a record net loss of nearly RM292 mil (its latest quarter recorded loss of RM185.8 mil). The (unenviable) cause of Berjaya Food’s painful financial performance has been attributed to Starbucks Malaysia, which continued to struggle the ongoing boycott in Malaysia, despite expanding its store network to more than 410 outlets nationwide. View earnings here.
Sunway Group to list its healthcare unit on Bursa early 2026
Sunway Group has announced plans to list its healthcare unit, Sunway Healthcare Group by early 2026. Sunway Healthcare Holdings (SHH) which operates 5 hospitals with a combined 1,662 licensed beds (led by flagship hospital Sunway Medical Centre), plans to raise its total bed capacity to over 3,400 by 2032 through building new hospitals in Seremban, Iskandar Puteri, Johor and Putrajaya, as well as a fertility centre in Kota Bharu, Kelantan. Sunway certainly has good reasons to list its healthcare unit on Bursa. FY2024 saw SHH recording a revenue of RM1.85 bil and a net profit of RM257.5 mil, up from RM181.6 mil and RM1.46 bil respectively in FY2023.
Shorts
Motorists can claim own insurance without losing No-Claim Discount
BNM announced that motorists who are not at fault in road accidents can claim directly from their own insurer without losing their No-Claim Discount. As part of a revision to the motor insurance claims policy, the “Own Damage Knock-for-Knock” option allows drivers with comprehensive motor insurance to repair their vehicles through their own insurer instead of waiting for the at-fault party’s insurer, helping to shorten the average processing time for damage claims by 20 working days, while third-party property damage claims can be completed up to 80 working days sooner.
Learn: What is ‘No Claim Discount’?Memorable Merdeka with Malaysia’s mixed doubles maiden win at Badminton World Championships
Malaysia’s 68th Merdeka was truly a memorable one, thanks to national mixed doubles pair Chen Tang Jie and Toh Ee Wei’s National Day gift - a historic win at the 2025 Badminton World Championships held in Paris, France. Chen-Toh’s spectacular victory over Chinese pair Jiang Zhen Bang-Wei Ya Xin brought an end to nearly 20 years of waiting since Koo Kien Keat-Wong Pei Tty’s semifinal appearance at the 2006 edition in Madrid, Spain. Watch match highlights:
4. AROUND THE WORLD 🌎
The Israeli killing spree
High-level Hamas members, Yemeni ministers killed
Israeli Defence Minister Israel Katz claimed that Abu Ubaida, spokesperson of Hamas’ armed wing, has been killed by the Israeli military in Gaza, following a joint operation carried out by the IDF and the Shin Bet, Israel’s domestic intelligence service. Hamas has not commented on this. However, Hamas did confirm that its Gaza military chief, Mohammad Sinwar, is dead, months after Israel claimed he was killed in a strike. Hamas did not provide details, but published pictures of him along with other group leaders, calling them “martyrs”.
An Israeli strike was also responsible for killing the prime minister of Yemen’s Houthi-run government, along with several other ministers. The strike on the Yemeni capital of Sanaa was meant to target the Houthi chief of staff, defence minister, and other senior officials, according to Israel. In response to the strike, the Houthi rebels raided UN offices in Sanaa, forcibly entering World Food Programme premises. They detained 11 UN personnel, seized UN property, and attempted to enter other UN offices in Sanaa as well.
Post-war plan suggests US administering Gaza “for at least a decade”
It is reported that the 38-page prospectus, circulating within the Trump administration, has the US administering the enclave for at least a decade, the relocation of Gaza’s population either through “voluntary” departures to another country or into restricted areas within the territory during reconstruction. The plan, called the “Gaza Reconstitution, Economic Acceleration, and Transformation Trust” (GREAT Trust), also sees Gaza rebuilt as a tourist resort and manufacturing hub. The GREAT Trust was reportedly developed by the Gaza Humanitarian Foundation (GHF), a controversial US-backed aid group.
US Court finds Trump tariffs illegal: Now what?
A federal appeals court has ruled that US President Trump’s tariffs are an overreach of his use of emergency powers as president. This means that the Liberation Day reciprocal tariffs, imposed on nearly every country the US trades with, are illegally imposed. However, the tariffs were not halted, but would instead remain in place until mid-October, setting up a further legal challenge in the US Supreme Court. However, with six of nine Supreme Court justices being conservative, the court is seen as more likely to side with the president.
In the meantime, US Trade Representative Jamieson Greer said the Trump administration will continue its talks with trading partners, stating that “people are moving forward with their deals” regardless of the court’s decision. Greer gave no details on which countries the US was still in talks with. Meanwhile, Eric Trump was seen in Tokyo, throwing his support behind Japanese Bitcoin treasury firm Metaplanet, in what is seen as the Trump family expanding its crypto ventures internationally.
Our neighbours’ politics
Indonesian riots led to looting, 8 dead, and revoked policies
Indonesian President Prabowo Subianto announced that political parties have agreed to revoke a number of perks and privileges for parliamentarians in a major concession to anti-government demonstrators after protests that have killed at least 8. Protests over excessive pay and housing allowances for parliamentarians expanded into riots after a motorcycle rideshare driver was killed in a police action at a protest site. Rioters looted, ransacked, or set ablaze the homes of some members of the political parties, with protests rocking major cities. Looks like Gotham City - watch here.
Despite the riots and protests sparking the selling of stocks and currency, Indonesia’s financial and economic regulators said the country’s economic fundamentals were still strong, especially with a planned incentive package that would help “minimise the impact” of the riots on the economy. Meanwhile, China was understanding of President Prabowo’s decision to cancel his visit to Beijing for China’s “Victory Day” parade, and hoped that effective measures were being taken to protect Chinese nationals in Indonesia.
Thai court removes PM Paetongtarn Shinawatra from office
Thailand’s Constitutional Court has removed the suspended PM from office after finding her guilty of ethical misconduct over a controversial phone call with Cambodia’s former leader, Hun Sen, making her the fifth Thai PM to be stripped of office by Thai judges since 2008. The country is now plunged into political uncertainty and potentially a snap election. This leaves the biggest party in Thailand’s government, the opposition People’s Party, as kingmaker, considering it controls nearly a third of the seats in parliament. In the meantime, the once-dominant Pheu Thai party, founded by Paetongtarn’s father Thaksin Shinawatra, has to shore up a coalition that has lost public support.
Stiffer penalties for foreign vapers in Singapore kick in
Foreigners caught vaping in Singapore now risk having their passes revoked, being deported and banned from re-entering Singapore. These stiffer penalties came into effect on September 1, 2025, along with an announcement by the local authorities that foreigners caught with vapes will have the devices seized, with the users fined. Repeat offenders will also face more severe consequences, with Short-Term Visit Pass holders who reoffend banned from re-entering the country. Long-term pass holders may have their pass revoked on a third offence, and could also be deported and banned from re-entering Singapore. Good ad:
Shorts
Afghan magnitude 6 quake kills over 600
The quake, marked as one of Afghanistan’s worst, saw at least 622 dead with over 1,500 injured and numerous houses destroyed. This disaster is the deadliest earthquake in the country since June 2022, when at least 1,000 people died when magnitude 6.1 tremors hit. This is expected to further stretch the resources of a country already grappling with humanitarian crises, from a sharp drop in aid to a huge pushback of its citizens from neighbouring countries.Nvidia: Two customers account for 39% of Q2 revenue
The chipmaker’s revenue for the quarter came up to USD46.7 bil. 39% of that comes up to about USD18.2 bil. Customer A and Customer B are the unnamed benefactors with contributions of 23% and 16% respectively. These two also accounted for a total of 35% of the total revenue for the first half of the year. Nvidia’s filing called these customers “direct customers”, such as original equipment manufacturers, system integrators, or distributors.
5. FOR YOUR EYES 📺
Salam Merdeka!
If you are out of town or sleeping, here’s the fireworks in KL city.
Malaysians enjoyed the scenes of Abang Bomba, Abang Askar, Abang Polis and cheered for them at the National Day Parade. But, any cheers for them:
BTS of the separation of Singapore from Malaysia. Discovered new things.