☕️ BNM launches the National Financial Literacy Strategy 2026-2030

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

A word of advice to start the week: If it’s too good to be true, it usually is. Research has shown that TikTok is one of the main sources of investing advice for younger people. However, a study released by DayTrading.com revealed that 70% of the financial content on the platform was misleading. The team looked up popular TikTok hashtags and focused on videos that had a high view count, included a clear financial claim, and had a mix of finance and investing themes. These were then scored through a four-part scoring framework, which ultimately revealed that most of the videos were misleading. The videos appear to be only interested in getting clicks, likes, and hits, with some even offering two contradictory pieces of advice within the same video.

In a bid to increase financial literacy among students, the government and major players in the banking industry collaborated to train 173 government school teachers and lecturers in a personal financial management course for teachers. The programme, spearheaded by the Financial Education Network and managed by the Financial Industry Collective Outreach, equipped these educators with the tools needed to provide crucial financial management training to their peers nationwide. The programme is also a move to counter the increasing number of teachers being financially exploited by scammers or struggling with personal debt. To underscore how dire the situation is, teachers were the victims of 30.2% of online scam cases in the state of Johor in 2022.

Every year, the Social Security Organisation (PERKESO) pays out about RM421 mil for sugar-related illnesses like diabetes, according to Human Resources Minister Steven Sim. To combat this, PERKESO offered free medical checks and launched a low sugar campaign to deal with diabetes specifically. This all comes as part of the organisation’s efforts to actively contribute to the prevention of workplace mishaps. The minister also revealed he is planning to table a new Bill aimed at providing round-the-clock protection to all Malaysian workers, in a bid to better protect workers regardless of their private insurance status.

3. IN MALAYSIA 🇲🇾

PRN: The Sabah Negotiations
Sabah PKR chief Mustapha Sakmud stated that the coalition might need 23 seats, out of 73 available seats, to be contested in the Sabah state election, in order to ensure political stability and to prevent internal conflict. However, Gabungan Rakyat Sabah (GRS), a loose coalition of Sabah-based parties, mirroring the formula of Sarawak’s Gabungan Parti Sarawak (GPS), said that it wants to contest 55 of the 73 seats up for grabs, leaving Pakatan Harapan (PH) with just 18. Facing this sticky situation, Sabah PKR mentioned that they are flexible with the numbers, and GRS mooted that no decision has been made yet on how many seats to be given to PH (of which Sabah PKR is part of it). Safe answer.

As for the seat distribution between PH and Barisan Nasional (BN) (I believe it is based on the unconfirmed 23 seats to be given to PH), DAP secretary-general Anthony Loke and UMNO president Ahmad Zahid Hamidi stated that all is hakuna matata and there is no clash between both coalitions. The seat distribution will be based on the current incumbency formula. Basically, whoever holds the seat would be given the honour and support to continue contesting it.
Meaning of hakuna matata here.

However, for the state election that will be called within the next two weeks, Parti Warisan has decided to go solo and contest in all 73 seats (we have seen this plot before, i.e., Pejuang, and it did not end well for the lone ranger). Warisan president Mohd Shafie Apdal said that the party will weed through the political mess and focus on matters that are important to the rakyat - clean water supply, electricity and roads.

Bourgeoisie daydream

Not In My Own Backyard (NIMBY)
Over 200 residents of Bukit Damansara, which consists of several VVIPs such as Tony Fernandes, Khairy Jamaluddin and Nazir Razak, rallied to oppose the redevelopment of the abandoned Wisma Damansara into two 60-storey towers. The protestors claimed that the new development has a proposed plot ratio of 1:9.6, far exceeding the 1:6 limit in the Kuala Lumpur Local Plan (KLLP) 2040, and the adjacent Jalan Semantan could not cope with the traffic coming from the new development. But if we take a step back, building a high-density project in that area makes a lot of sense as there are two MRT stations within a 500-meter radius, and the project will be the epitome of transit-oriented development. Plus, the Bukit Damansara area and the nearby Federal Hill have been criminally under-utilised, given both of them are smack in the middle of KL. Nonetheless, it is cute to see these bourgeoisie standing under the heat to protest against the authority.

A swimmable Klang River?
Sahabat Sungai Malaysia president Prof Dr Zaini Ujang proposed that the Klang River has the potential to be swimmable, akin to rivers in several major European cities. Dr Zaini added that river bathing could also serve as an indicator to assess the cleanliness of the river. Let’s just stop here. We have too many other priorities that are more important. Plus, the pain from spending about RM4 bil for the River of Life project still lingers, which just ends up making the Klang River less teh-tariky. Maybe Prof was inspired by the Swiss, where they can just jump into the river and commute to work by swimming - watch here.

BNM launches the National Financial Literacy Strategy
Bank Negara Malaysia (BNM) just launched the National Strategy for Financial Literacy 2026-2030 (NS2.0), which includes the establishment of a National Coordination Office, consisting of BNM, the Securities Commission Malaysia, the Employees Provident Fund, and the Credit Counselling and Debt Management Agency, to mobilise a more coordinated approach in spreading the financial literacy gospel. NS2.0 will be focusing on five key priorities, namely - retirement planning, debt management, financial future with risk protection, safe use of digital financial services and investments for wealth creation. View the strategy paper here.

Business

NexG Bhd bagged the RM732.72 mil contract from the Home Ministry
NexG Bhd, formerly known as Datasonic Group Bhd, has secured a six-year contract worth RM732.72 mil to supply Malaysia's national identity cards, including MyKad and MyTentera. NexG has been the supplier of MyKad since 1999 and has also won a separate RM1.73 bil, six-year contract from the Home Ministry to supply Malaysian passports. Previously, NexG or Datasonic was named in the alleged corruption case involving current Deputy PM Ahmad Zahid Hamidi. The company’s market cap stands at RM1.92 bil. View its financials here.

Empire Sushi files for IPO
Empire Premium Food Bhd, which operates the multi-format sushi chain Empire Sushi, is planning to go public in order to raise funds for expansion. The initial public offering (IPO) will float up to 33% stake in the company. Found in 2010 and 132 stores across the country, the company generated revenue of RM235.6 mil and profit after tax of RM37.9 mil in FY2025, where over 80% of the revenue is derived from its grab-and-go sushi operations, while the remainder is derived from its quick dine-in sushi outlets. The company plans to use funds from the IPO to open 56 new outlets in both grab-and-go and quick dine-in formats between FY2027 and FY2029, hire additional service crew, and upgrade or refurbish existing outlets. View its prospectus here.

4. AROUND THE WORLD 🌎

Trump’s peace plan - Hamas keen to reach end of war
After approving a peace plan proposed by US President Donald Trump, a senior Hamas official has said that Hamas is now very keen to reach an agreement to end the war. They also expect to immediately begin the prisoner exchange process in accordance with the field conditions. Israeli and Hamas negotiators are set to iron out details during talks in Egypt, in which the indirect talks will be held with both parties being in the same building but away from media coverage. During communications with mediators, Hamas insisted that it is essential for Israel to halt military operations across all areas of the Gaza Strip, cease air, reconnaissance, and drone activity, and withdraw from inside Gaza City, he added. In parallel with the cessation of Israeli military activity, Hamas and the resistance factions will also halt their military operations and actions. According to Trump’s plan, Israel is expected to release 250 Palestinian prisoners with life sentences and more than 1700 detainees from the Gaza Strip who were arrested after October 7, 2023.

Greta Thunberg and fellow activists mistreated by Israeli forces in detention
137 international activists on board the Global Sumud Flottilla deported from Israel have arrived safely in Istanbul, with several of them reporting that the Israeli forces have mistreated Swedish avid climate campaigner Greta Thunberg. Turkish journalist and Gaza Sumud Flotilla participant Ersin Celik told local media outlets he witnessed Israeli forces “torture Greta Thunberg,” describing how she was “dragged on the ground” and “forced to kiss the Israeli flag”.

Malaysian activist Hazwani Helmi and American participant Windfield Beaver gave similar accounts at Istanbul Airport, alleging Thunberg was shoved and paraded with an Israeli flag. Italian journalist Lorenzo Agostino, who had been on the flotilla, also cited the treatment of Thunberg. Others described severe mistreatment they received from the Israeli forces, citing that they were left hungry for three days and denied food, clean water, and medication. Adalah, an Israeli rights group providing legal aid, said that detainees reported being forced to kneel with zip-tied hands for hours, denied medication, and blocked from speaking with lawyers.

The Rise of Gen Zs around the world vs. the Ruling Political Class
The Gen-Zs around the world have had enough - growing inequality and marginalization is destroying young people’s hopes for the future and it appears that the only way forward is to confront a broken social contract head-on. In Morocco, cities and towns have pulsed with the anger of young people mobilized under the umbrella “GenZ 212”, with protesters demanding sweeping reforms in healthcare, education and social justice – issues they say have been sidelined as the government pours billions into 2030 World Cup infrastructure. Three people were killed and hundreds of others were injured in the protests.

Meanwhile in Madagascar, a youth-led unrest went on for several days this week as the streets flooded with young protesters calling for systemic reforms and resignation of President Andry Rajoelina. The United Nations said that at least 22 people had been killed and more than 100 injured.

In Peru, youth demonstrations triggered after the government announced reforms to a pension law, which then swelled to wider calls to stamp out corruption, repression and rising crime under President Dina Boluarte’s rule. Can we really blame them though?

Gen-Z, a generation born between 1997 and 2012, grew up in the shadow of the 2008 financial crash, and as they’ve come of age, they’ve faced deepening political division, a growing climate crisis, economic uncertainty and a pandemic that has exposed deep inequalities. Analysts say that many of them feel that their interests are not represented or taken into account, and with the rise of authoritarianism, xenophobia and nationalism, young people are quickly losing opportunities that were once available to their parents’ generations.

Shorts

1. Singapore banks to implement new scam safeguards on all digital transactions

   The Association of Banks in Singapore (ABS) has announced that the major retail banks in Singapore will put in place new safeguards on all digital transactions from Oct 15 to further protect customers from scams. DBS Bank, OCBC Bank, UOB, Citibank, HSBC, Maybank and Standard Chartered should expect more of their transactions to be held for 24 hours, or rejected immediately - a safeguard that will protect current and savings accounts including joint accounts with balances of at least SGD50,000. Singapore saw SGD456.4 mil lost to scams in the first half of 2025, with almost 20,000 cases reported, although the amount lost was lower than in the same period in 2024.

2. Japan to receive first female premier soon

   Japan’s ruling party The Liberal Democratic Party (LDP), which has ruled Japan for almost all of the postwar era, has picked hardline conservative Sanae Takaichi as its head on Saturday. This means that she is in the running to become the country’s first female prime minister. Takaichi hails Margaret Thatcher as her role model, but despite being a woman, she is not seen by many women voters as an advocate for progress. She is a staunch conservative who has long opposed legislation allowing women to keep their maiden names after marriage, saying it is against tradition, and also a regular visitor of the controversial Yasukuni shrine where Japan’s war dead, including some convicted war criminals are memorialised.

5. FOR YOUR EYES 📺

Today on things that move

1. Get your own 4-seater private plane for RM500,000 (RM1.2 mil for brand new), that can fly 1,100 km (Subang to Langkawi). Check out Bilqis Bahari’s IG page here - an aviation journalist.

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2. Probably the cutest EV - Microlino. The car is road legal, verified by JPJ, but not allowed on highways.

paultancars

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3. Demo: How to redeem your RM1.99 Budi95 petrol.