☕️ Deepavali brings extra school holidays for some states

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

RM150 mil – The Housing and Local Government Ministry (KPKT) will allocate that amount over 5 years to repair and upgrade public toilets managed by local authorities. He said that the funds not only provide direct benefits to the public but also yield economic returns for the country and boost industries based on toilet products and public facility technology in Malaysia. The announcement was made at the launch of the Toilet of the Year Award 2026, a competition held as part of the ministry’s efforts to make clean, attractive, and pleasant-smelling toilets (Bersih, Menawan dan Wangi – BMW). At the event, Nga noted that 90% of the 840 petrol station toilets operated by Petron, which is 756, had achieved four- and five-star ratings, earning the company recognition from the Malaysia Book of Records. He also said he would write to the presidents of Petronas, Shell, and BHP to encourage them to follow Petron’s example.

1,916,588 hectares – Fires in Indonesia burned through an area that large between Jan and Sept this year, according to deforestation monitoring site Nusantara Atlas. This area, nearly 12 times the size of London, saw the bulk of it burned during the drought that started in Jun, exacerbated by a strong El Niño cycle. However, Nusantara Atlas’ founder believes the true scale of the burning was likely even higher than the over 1.9 mil hectares his organisation has detected so far, as it excludes individual burn scars smaller than 6.25 hectares, and prioritises avoiding false detections. This year’s calculation was also impacted by heavy haze, which has obscured satellite images at times. Still, the organisation’s data showed that the area burned by the end of Sept this year was also 38% higher than in the same period in 2019.

RM6.8 mil – That’s how much the 3½-storey shoplot in Damansara Uptown, Petaling Jaya, which housed Village Park Restaurant recently sold for at auction. The reserve price was RM5.3 mil for approximately 1,650 sq ft, but 14 bidders reportedly crowded into the auction, which pushed up the winning bid. The attention and premium price recognise the established location, iconic tenant profile and income potential of the property. The shoplot reportedly went on auction after its two deedholders died, with the auction itself ordered by the High Court in Kuala Lumpur.

3. IN MALAYSIA 🇲🇾

Big data, bigger energy
Malaysia’s data centre appeal grows: Malaysia could attract more data centre investment as the US-Iran war raises concerns over building major digital infrastructure in the Middle East, according to SD Guthrie president and Group CEO Mohd Haris Mohd Arshad. Malaysia was already attracting investment from major technology companies including Google, Amazon and Microsoft before the conflict, while Haris said the country’s relative stability in Southeast Asia could make it more appealing for future projects. SD Guthrie is positioning itself to benefit from that growth. The palm oil group owns more than 210,000 ha of freehold land and has earmarked about 10% of its landbank for industrial development and renewable energy projects, while some lower-yielding plantation land could be repurposed for data centre-related developments.

Johor remains a major focus for new projects because of its proximity to land-constrained Singapore, but electricity supply is becoming a key issue. Data centres have signed agreements with Tenaga Nasional for up to 8.77 gigawatts of peak demand, equivalent to almost a third of Malaysia’s installed capacity in 2025. BMI estimates that Johor’s data centres alone could consume as much as 23% of Peninsular Malaysia’s electricity supply by 2031.

Data centres face 30% green energy rule: Meanwhile, Malaysia will require data centres to source at least 30% of their energy from renewable sources as demand for electricity from the industry grows. Deputy PM Fadillah Yusof said the requirement will be based on a data centre’s total capacity or energy consumption. Operators are also being encouraged to generate their own electricity through solar power, so the cost of meeting higher demand is not passed on to other consumers.

The Energy Commission is developing guidelines covering self-generation facilities and the renewable energy requirement. The government said grid stability, reserve margins and reliable electricity supply for all users will remain priorities. Fadillah also clarified charges under the Corporate Renewable Energy Supply Scheme (CRESS). Renewable energy developers using the national grid will continue to pay 14 sen per kWh, while green electricity users pay a separate four sen per kWh. The two charges should not be treated as a combined 18 sen fee.

LTAT sells Ampang Hilir lease for RM420 mil to Uncle Sam
LTAT has sold the leasehold rights to a parcel of land in Ampang Hilir to the United States government for RM420 mil, with plans for a new US embassy on the site. Defence Minister Khaled Nordin told the Dewan Rakyat that the lease was sold through a tender process as part of efforts to rebalance LTAT’s investment portfolio. Several parties submitted bids, and Khaled said the transaction followed LTAT’s policies, governance requirements and relevant laws. The site along Jalan U Thant in Kuala Lumpur measures about 543,039 sq ft. The US government is acquiring only the leasehold rights, while ownership of the land remains with the Federal Lands Commissioner. The transaction came under scrutiny after Batu Pahat MP Onn Abu Bakar asked for clarification on the site’s status. He said a land search showed that Lot 11972 was designated for residential use and had been caveated by the US government through the US Embassy on Dec 2, 2025.

Penang petrol station loses Budi Madani access
A petrol station in Sungai Buaya, Nibong Tebal, has been barred from selling subsidised RON95 petrol and diesel under the Budi Madani programme after suspected subsidy abuse was uncovered. The Finance Ministry said the action followed complaints from Budi Madani recipients who discovered that their MyKad details had allegedly been used without their knowledge to buy subsidised petrol. All complainants have lodged police reports. A review of the station’s records found more than 1,000 transactions involving manual bypass methods. These covered more than 100,000 litres of petrol and involved over RM270,000 in government subsidies.

The ministry has withheld the RM270,000 in subsidy payments while further checks are carried out. Nine individuals, including the station owner and family members, have also been barred from using Budi Madani subsidies pending further action. Several other people suspected of being linked to the case have been identified, and their transaction records are being reviewed.

Deepavali brings extra school holidays
Students in most states will get an extended break around Deepavali this year, with additional school holidays set for Nov 9 and 10. Deepavali falls on Sunday, Nov 8, so Monday, Nov 9, will be a replacement public holiday. Schools in Group B states, except Sarawak, will also get Tuesday, Nov 10, off under the Education Ministry’s 2026 academic calendar. This covers Johor, Melaka, Negeri Sembilan, Pahang, Perak, Perlis, Penang, Sabah, Selangor, Kuala Lumpur, Labuan and Putrajaya.

Schools in Kedah, Kelantan and Terengganu under Group A will only get the replacement holiday on Nov 9. Sarawak schools will follow the same arrangement. The extra school holiday does not automatically apply to private-sector employees. Parents planning a longer festive break should check their workplace holiday and leave arrangements separately.

Summary:
Schools having Nov 9 off: Kedah, Kelantan, Terengganu & Sarawak
Schools having Nov 9 and Nov 10 off: Johor, Melaka, Negeri Sembilan, Pahang, Perak, Perlis, Penang, Sabah, Selangor, Kuala Lumpur, Labuan, and Putrajaya.

4. AROUND THE WORLD 🌎

A Breather from the Haze
Finally, first rains bring relief to haze in Indonesia
Indonesians in Sumatra and Kalimantan can take a breather now. Heavy rains finally swept through Palembang, and residents quickly shared a bunch of videos of the rains to their friends and relatives. It brought joy, as the haze had enveloped parts of Indonesia, leaving them gasping for air in recent months. South Sumatra has endured a dry season lasting more than four months. Indonesians are now optimistic that the rainy season is near.

However, authorities are warning that the return of rain will be uneven. They have also been doing cloud seeding to induce rain. Forecasters are advising the public to expect patchy showers rather than a sudden change to the rainy season. Forest fires across Indonesia have also possibly been exacerbated by the strong 2026 El Niño phenomenon, sending heavy haze throughout the region. Let’s hope the haze season will be over soon as we watch Indonesians’ joy at the rain:

A bus with oxygen tanks sent to a city in Kalimantan
Meanwhile, in Central Kalimantan, a bus equipped with oxygen tanks was sent to Palangka Raya to help provide relief to people choking from the forest-fire-induced haze. The fires in that region show no signs of letting up. Residents were hooked up to small oxygen tubes around their nose for 5 to 10 minutes at a time, aided by medical professionals. Central Kalimantan health authorities said, “The service is intended to ‌help people access oxygen, particularly those experiencing respiratory problems or who need oxygen ⁠support amid unhealthy air ​quality conditions”. Respiratory illnesses linked to the fires are at 350,000 cases from Aug to Oct 25, and Central Kalimantan reported about 31,000 cases.

Microsoft offering buyouts to 60,000 workers
Another round of cost-cutting? Microsoft is offering buyouts to about 60,000 of its workers, which represent roughly one-quarter of its workforce (223,000 in total), to cut costs and ‘retool its workforce for the AI era’. Divisions such as Xbox, Windows, Copilot and finance are fully participating in the offer, but certain pools of employees in data centres, sales, marketing, cybersecurity and quantum computing aren’t eligible. This is not that convincing, as revenue growth has outpaced employee growth, making the cost-cutting story a bit flimsy.

Footballing World
Congrats, Harry Kane, on winning the Ballon d’Or
It has been 25 years since an English player last won the Ballon d’Or. In 2001, Michael Owen burst onto the scene with his lightning pace and impeccable first touch to win the award. And in 2026, Harry Kane, the total opposite of Michael Owen, slower but more tactical, delivering long balls from deep as a striker, and pouncing on every opportunity in the box, is the winner of the Ballon d’Or. The icing on the cake? It was R9 Ronaldo who announced him. Kane currently plays for Bayern Munich and is the fifth Englishman to win in total after Stanley Matthews (1956), Bobby Charlton (1966), Kevin Keegan (1978 and 1979) and Owen (2001). Kane scored 61 goals in 51 club matches last season - a Bayern Munich record for a single campaign. If we include his England matches, his tally comes to 73 goals. Kylian Mbappé came in second, followed by Lamine Yamal.

However, there was some drama. Apparently, a few hours before the announcement, he was prematurely announced the winner on the Ballon d’Or website, along with similar announcements for Kylian Mbappé and Lamine Yamal. A spokesperson said, “Some profiles of nominees prepared by BallonDor.com were inadvertently published online. These articles had been prepared for all nominees and should in no way be considered as an indication of the final results or rankings.” The articles were quickly removed after that.
Regardless, Harry Kane is your 2026 Ballon d’Or winner and here is his winning speech:

Dictator Mbappé is getting cancelled in China
Well, several Chinese brands have dropped French footballer Kylian Mbappé following a backlash over alleged comments referring to the late Chinese leader Mao Zedong. Apparently, he joked on the French talk show The Bridge that the meme "that makes me laugh the most, it's the one where there's a video of a guy, I think it's a Chinese dictator...". Then, a meme of his face superimposed on an image resembling Mao appears. He is famous for being memed as “the dictator”.

That greased the social media wheels in China, where Mao is revered by the Communist Party. Chinese football forum Dongqiudi highlighted the comments, saying they were ‘inappropriate’ and ‘hurt the feelings of the Chinese people’. Some are even calling for a boycott. It got so big that state broadcaster CCTV news apps will not feature content related to Mbappé and will stop showing La Liga matches.
This is not China, so let’s enjoy the meme that Mbappé is probably talking about:

Shorts:

1. “Maxxing” is 2026 Word of the Year for Dictionary.com
   Gen-Zs and Gen-Alphas sure have a way to get words into the dictionary. “Maxxing” is used to describe doing something or optimising an aspect of life as much as possible. And it is usually used in the context of getting the most out of something or everything. Terms such as ‘proteinmaxxing’, ‘fibermaxxing’, ‘sleepmaxxing’ and ‘looksmaxxing’ describe efforts to optimise protein intake, fibre intake, sleep or physical appearance.
   Do you want to be ‘maxxing’ your life now? Here’s one looking into the looksmaxxing trend:

2. Play CODMW4 if you want to see how North Korea invades South Korea
   That’s basically the message from South Korea’s President Lee Jae-myung's critics as they ask him to better appreciate the need for defences against an invasion by the North through the game Call of Duty: Modern Warfare 4. It depicts urban combat in central Seoul as the North launches a full-scale surprise attack on the South. Reviews of the game have been mostly positive. However, opposition politicians have used the game to criticise President Lee’s conciliatory approach towards Pyongyang, North Korea.
   Here’s the highly popular CODMW4 trailer:

5. FOR YOUR EYES 📺

1. On Monday, we featured the collection of videos (watch here again) of Tesla Cybercab driving better than humans. Soon, you can see the car for yourself in Malaysia. The car has no steering wheel. Wonder if there’s test-ride, but doubt so - our legal framework for autonomous vehicles is still WIP (read more here).
   Laugh: Dogs vs autonomous van

2. Claude maker and OpenAI competitor Anthropic has officially filed for IPO. Quick breakdown of its numbers. Read prospectus here. Comes with 90+ pages of risk factors.

3. This is a really big cafe. Cafe Amazon, with 5,000 outlets, is owned by Thai oil and gas company PTT Oil and Retail Business (market cap of USD4+ bil). ZUS, wen your turn?