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- ☕️ Breaking down the Blackrock x MAHB deal controversy
☕️ Breaking down the Blackrock x MAHB deal controversy
Genting the pharmaceutical company? The rising case of losing ‘little brothers’ to penis cancer. Major examination scandal in India affecting 2 mil+ students.
1. MARKET SUMMARY 📈
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/db3d4eaf-8e0c-4d06-a135-0b68064d0396/Screenshot_2024-06-24_at_7.35.22_AM.png?t=1719185726)
Information as of 0720 UTC+8 on Jun 24, 2025.
2. NUMBERS AT A GLANCE 🔢
More than 50% of coral reefs in marine parks in Malaysia are affected by mass bleaching events, according to the Fisheries Department’s checks between April and June this year. The bleaching is due to rising global sea temperatures. The majority of the affected reefs are in shallow waters less than 10 meters deep. The department stated that the discolouration of the coral reefs not only poses a threat to marine species’ health but also has serious implications for marine biodiversity, subsequently affecting the tourism industry.
Australia's trade with China surged to record levels in the past year, reaching AUD219 bil (RM685 bil) in 2023, up from AUD168 bil in 2019, despite ongoing security tensions. The recovery in trade value has been driven in particular by rising prices of iron ore — Australia’s most important export — and a rebound in services after travel and tourism dropped off during the pandemic and relations soured. China employed panda diplomacy as Chinese Premier Li Qiang, during his trip to Australia, also promised a new pair of giant pandas to the Adelaide Zoo.
Phishing scams targeting weight loss drugs like Ozempic, Wegovy, and Semaglutide surged 183% (in the US) from January to April, according to McAfee. These scams often involve criminals posing as trusted entities to steal personal information via emails or messages. Most incidents occur on sites like Facebook and Craigslist, where 207 fake Ozempic ads were found in one day in April. Some studies suggest the drug costs USD5 to make, but it sells for around USD1,000 monthly, tempting consumers to seek cheaper alternatives and ultimately falling for the scams.
3. IN MALAYSIA 🇲🇾
Malaysian politics update
It will be a ‘one by one’ fight between Pakatan Harapan (PH) and Perikatan Nasional (PN) at the Sungai Bakap by-election. Voters will go out on July 6 to choose between PH’s Dr Joohari Ariffin or PN’s Abidin Ismail as their new rep at the Penang State Assembly. For this by-election, Sungai Bakap has 39,222 registered ordinary voters, 57 police personnel and their spouses. This is PN’s seat to defend, as they won it during the state election in August 2023.
Despite the ongoing rumours, there is no plan for PAS to join the ruling government and revive the previous Pakatan Rakyat coalition. According to PAS deputy president Tuan Ibrahim Tuan Man, PAS’ focus now is to fortify its relationship with PN for any upcoming elections.
As expected, after being ousted from his seat, former Nenggiri assemblyman Mohd Azizi Abu Naim will be filing an application to challenge the Kelantan State Assembly’s decision. The injunction will be filed at the Kota Baru High Court today. Azizi is one of Bersatu's members who pledged support for PM Anwar Ibrahim, which led to Bersatu’s decision to kick him out of the party. The current anti-hopping law provision also becomes the basis for Kelantan State Assembly Speaker Mohd Amar Abdullah to declare Azizi’s state assembly seat vacant.
Selangor opposition leader Azmin Ali has also sent a notice of vacancy for the Selat Klang seat to the Selangor State Assembly Speaker Lau Weng San. The vacancy notice was sent as the Selat Klang assemblyperson Abdul Rashid Asari was among the Bersatu members who declared support to the ruling Government. Lau responded that his office already received the notice, and it is under review.
BlackRock will not be a part of the Malaysia Airports deal, says GIP
Global Infrastructure Partners (GIP) stated that its buyer, BlackRock, will not be a part of the ongoing deal to privatise Malaysia Airport Holdings Bhd (MAHB). The exclusion of BlackRock was prompted by the fiery backlash from the Malaysian public over its alleged ties to Israel. Under the proposed deal to privatise MAHB, GIP and Abu Dhabi Investment Authority will own 30% of MAHB while the remaining 70% will be held by Khazanah Nasional Bhd and the Employees Provident Fund (EPF). If this deal materialises, it will value MAHB at RM18.4 bil.
Although some factions of the public and politicians oppose the deal due to the alleged Israel ties, we would argue in the first place why such a deal is considered. According to GIP’s head of transport, Phil Iley, MAHB will benefit from higher investment, improved service levels and GIP’s experience in managing other global airports such as Sydney Airport, London Gatwick Airport, Edinburgh Airport, Signature Aviation and previously London City Airport. So, is MAHB bleeding money until we need GIP to step in and lend its vast experience in managing our airports? As per MAHB's performance for the financial quarter ended 31 March 2024, the airport operator recorded a net profit of RM189.99 mil, more than a 200% increase compared to its performance during the previous corresponding quarter. View the earnings here.
MAHB is an entity that owns strategic assets of the country. With the current unstable global political rivalry between the US and China, it is wise for Malaysia to have full control of its strategic assets. There are many other ways for Khazanah and Co. to gain profits for its stakeholders apart from monetising the country’s strategic assets.
An interesting breakdown of Blackrock and its massive reach. Being the largest asset manager in the world with USD10 tril under management, It’s hard not to be invested in some form or another with some Blackrock association.
ADA APA DENGAN BLACKROCK?
Kecoh pasal BlackRock nak beli lapangan terbang Malaysia.
Apa salahnya?
Salahnya BlackRock ini dikatakan ada sangkut paut dengan Israel.
Maka ramailah pemimpin pembangkang dan aktivis turun bantah.
Siap KJ pun ada.
Tapi betul ke?
Ini bebenang.
— Muhammad Najib (@muhammadnajib79)
10:50 AM • Jun 21, 2024
RM24.2 mil fraudulent withdrawals: All suspects received commissions of RM100k to RM240k
According to the Bukit Aman Commercial Crime Investigation Department director Ramli Mohamed Yoosuf, all suspects related to the RM24.2 mil illegal withdrawals from several fixed deposit accounts were compensated between RM100k to RM240k, depending on their respective roles in the syndicate. Ramli also added that the kingpin of the syndicate is a master in falsifying personal documents like identity cards and fingerprints for the withdrawal process.
So, what happened to the depositors who lost their monies in the fixed deposit accounts? Worry not, as Bank Negara Malaysia (BNM) has instructed immediate refunds for all affected account holders. BNM also added that consumers should immediately report any unauthorised or suspicious transactions to their banks or the National Scam Response Centre (NSRC) at 997 upon discovery, as well as to the police.
Sarawak may host the 2027 SEA Games if the opening ceremony is in Kuching
Sarawak Premier Abang Johari Openg said that the Sarawak State Government will agree to co-host the 2027 SEA Games with the Federal Government given that several requirements are met, which include - the opening ceremony to be held in Kuching while the closing ceremony can be in Putrajaya. Abang Johari told the media that the cost to host the SEA Games will be RM750 mil and Kuching is willing to foot half of the bill. Abang Johari also added that hosting major sporting events such as the SEA Games is one of the state’s post-COVID-19 Development Strategy 2030 (PCDS 2030) agenda.
4. AROUND THE WORLD 🌎
Nigel Farage: West was the one who provoked the Ukraine war
Nigel Farage, former UK Independence Party (UKIP) leader, recently told BBC that although the war was Putin’s fault, the expansion of the EU and NATO in the region was what gave him the reason to go to war and made it justifiable to the Russian people. He insisted that he had been arguing about it since the 1990s and then said on X that he was “one of the few figures that have been consistent and honest about the war with Russia". For context, Ukraine was not a member of the EU or NATO (made up of 32 countries across Europe and North America) but applied to join both blocs following the Russian invasion in 2022.
Will Russia easily let the US, EU and its allies establish a footing in a neighbouring country? Clearly, they won’t.
Corruption continues to crumble India:
India’s elite exams tainted by corruption and cheating scams
The National Testing Agency (NTA), an autonomous body under India’s Ministry of Education that is responsible for holding India’s top examinations for admissions into medical schools and research programmes, now faces unprecedented scrutiny due to mounting evidence of corruption and paper leaks.
The National Eligibility cum Entrance Test (NEET) held for medical aspirants has recently revealed irregularities in marks and a dramatically high number of toppers, with a wave of arrests all over India for alleged paper leaks and multimillion-dollar cheating scams that allows candidates to cheat their way into passing the exams. About 2.4 mil candidates took the NEET, competing for 100,000 spots in medical schools.
Their future now hangs in the balance as the corruption worsens. Several students have approached the Supreme Court and state high courts, staged protests in the scorching heat and organised campaigns on social media platforms demanding independent probes and a re-examination.
Tainted cheap alcohol kills 54 in Tamil Nadu
48 men and 6 women have succumbed to death, while dozens are treated in the hospital for consuming alcohol laced with methanol in the southern Indian state of Tamil Nadu. These cheap alcohols are sold for huge profits and bought by customers who cannot afford branded spirits, where vendors add methanol to increase the potency of the drink. Methanol is a highly toxic chemical substance that can lead to blindness, liver damage or death, even in small quantities.
The government of Tamil Nadu had taken disciplinary action against 10 officials in charge of managing illegal alcohol and failed to prevent the incident. Last year, more than a dozen people died in a nearby district, and more than 120 people died in the northern state of Punjab in 2020 due to a similar incident. In 2022, more than 30 people died in eastern India’s Bihar state and at least 28 died in Gujarat state after drinking tainted liquor sold without authorisation.
The rising case of losing ‘little brothers’ to penis cancer
Penile cancer is rare, but incidences and mortality rates are on the rise around the world. According to the latest studies, Brazil has one of the highest incidence rates of 2.1 per 100 000 men, with a startling 6500 amputations in a decade. Global Cancer Registries prediction tool estimates that by 2050, the global incidence of penile cancer will rise by more than 77%.
Symptoms of penile cancer often start with a sore on the penis that does not heal and a strong-smelling discharge, sometimes with bleeding and colour changes too. There is a high chance of recovery when detected early, through treatments like radiotherapy and chemotherapy and removal of lesions. If left untreated, partial or total amputation of the penis or testicles may be necessary.
Experts mention that the infection of human papillomavirus HPV is one of the main risk factors, which can be transmitted during sex and can lead to cancers, including in the mouth and penis. HPV vaccination, personal hygiene (especially with an uncircumcised penis) and usage of condoms could reduce the risk of penile cancer. A medical expert said that penile cancer is “almost unheard of in the circumcised population”, as a circumcised brother allows for greater maintenance of good hygiene.
Shorts
US proposes new restrictions to stop its inventors from investing in Chinese tech and AI
The US and its perpetual bitterness towards the Chinese continues. The US Department of Treasury has proposed a new rule that would restrict and monitor US investments in China for artificial intelligence, computer chips and quantum computing. The rule specifically prohibits American investors from funding AI systems in China that could be used for weapons targeting, combat and location tracking, among other military applications.More than 1,000 Hajj pilgrims perished in unforgiving 52C Mecca summer
About 10 countries have reported 1,081 deaths during the recent pilgrimage season, of which 658 were Egyptians who were also mostly unregistered pilgrims. These unregistered pilgrims somehow made their way into the main rites but without official permits, they are unable to access air-conditioned spaces to cool down. Each year, tens of thousands of pilgrims try to join the hajj through irregular channels as they cannot afford the costly official permits. Deaths have also been reported by Malaysia, India, Jordan, Iran, Senegal, Tunisia, Sudan and Iraq’s autonomous Kurdistan region but without specific causes.
China is cultivating its own Hainan durian, Thai exporters warned not to be complacent
It’s time for Thai durian farmers to seek ways to improve the quality and freshness of Thai durians, as China is now able to produce their own Hainan durian with the size of volleyballs. The Chinese have been growing their durians extensively in the Hainan region, with the first batch expected to hit the market by late June. In 2024, approximately 500 trees have started yielding the fruit with one tree able to produce up to 19 fruits weighing around 2kg. Tastewise seems to be milder and less creamy than the Thai counterpart, with a consensus among tasters being “dry, hard and bland”. Although Hainan durian is becoming an alternative for Chinese consumers. Waiting for the day for the US’s escalating paranoia to curb China’s durian production.
5. FOR YOUR EYES 📺
Youtuber Mrwhosetheboss (18.9 mil subscribers) read his wedding speech with the help of 500 drones.
Many of us know Genting as a gaming, hospitality, plantation and energy conglomerate. Soon, potentially, Genting might be more widely known as a pharmaceutical player. In a recent press briefing, CEO and chairman Lim Kok Thay shared an update (watch below) on the progress of its 20%-owned UK subsidiary, TauRx Pharmaceuticals Ltd., saying that its trial drug to combat Alzheimer’s disease has “sustained benefits”, performing better than the bigger pharma boys without any fatalities. Genting aspires to make its Alzheimer’s drugs affordable. Should this drug receive UK regulatory approval and under a blue sky scenario, TauRx could be worth USD15 bil, according to Maybank Investment Bank.