☕️ (We good, we back) The RM3,000 minimum wage

2. NUMBERS AT A GLANCE 🔢

Over 600 – That’s how many children were named after anime characters in Indonesia, according to figures released by Indonesia’s civil registration department. A total of 347 have either “Uzumaki” or “Naruto” in their name, after the protagonist of the ninja-themed manga and anime series “Naruto”, with other names inspired by characters from other anime and manga series such as “Doraemon” and “One Piece”. Meanwhile, popular artists also became naming inspirations, with 15,281 names inspired by Selena Gomez and another 5,533 named after Ariana Grande. Local media reported that naming trends change over time, with younger parents placing less importance on giving traditional Indonesian names to their children.

1534 – That was the last time an English monarch and a Catholic pontiff prayed together before last Oct, when Britain’s King Charles and Pope Leo prayed together in the Vatican’s Sistine Chapel. This follows King Henry VIII breaking away from Rome 492 years ago due to Pope Clement VII refusing to annul the king’s marriage to Catherine of Aragon, so he could marry another. King Henry VIII desired a male heir and a new wife who might provide one. He had also been ordering the seizure of church assets in a time when Protestant ideas were growing in England, leading to a turbulent separation between king and pope. Westminster Abbey’s canon theologian, Anglican Rev. James Hawkey, noted that the event in the Sistine Chapel offered “a kind of healing of history”, adding that such a joint prayer would have been impossible a generation ago, showing how far the Church of England and the Catholic Church had come since the separation.

14.7 mil – Shanghai Disneyland recorded that many visitors in 2024, a 5% growth over 2023, which is faster than any other theme park that logged more than 10 mil visitors. This also made the theme park the fifth-largest in the world by attendance, trailing Disney parks in Florida, California, and Tokyo, as well as Universal Studios in Osaka. However, the landscape is becoming more competitive, as Danish toymaker Lego opened its first theme park in Shanghai last year, with Chinese toymaker Pop Mart having recently expanded its park in Beijing. In response, Disney has pledged to expand Shanghai Disneyland, with growing speculation about a second park near the current one following an announcement that a fourth hotel will be built near the entrance.

We good. We back.

But sorry about today’s late edition.

I think many missed our message last week, which was above the market summary table. Went for a break, and that we would be back today if AI didn’t take over the world. Thanks for checking in on us for those that reached out.

Was in Bangkok and nearly made the news ourselves had we got stuck in the flood. Though disaster zone was declared, some areas were bad, some were fine. Bangkok people are next level, enjoying the flood.

3. IN MALAYSIA 🇲🇾

More airlines, higher train fares
KLIA to welcome up to four new airlines: KLIA is expected to welcome three or four new airlines before the end of 2026, with talks at an advanced stage. Malaysia Airports Holdings Bhd group managing director Mohd Izani Ghani said the airport operator is preparing for the new carriers as it expands KLIA’s international network. No airlines have been named yet, but MAHB said talks are progressing well and the new carriers are expected to begin serving KLIA by year-end. KLIA is also preparing for higher passenger traffic ahead of the Formula 1 Gulf Air Bahrain Grand Prix at Sepang International Circuit from Oct 2 to 4, with around 200,000 spectators expected over the three-day event.

KLIA rail fares rise in Jan: Travelling between KL Sentral and KLIA will cost more from Jan 1, 2027, after Express Rail Link announced its first fare revision in 11 years. The standard one-way adult fare for KLIA Ekspres and KLIA Transit will rise from RM55 to RM65 (+18.2%), while a return ticket will cost RM118. Children aged six to 15 will pay RM29 for a one-way journey and RM53 for a return trip, while children under six will continue to travel free.

Fares for other KLIA Transit routes will also increase, including journeys to Bandar Tasik Selatan, Putrajaya and Cyberjaya, and Salak Tinggi. ERL said the increase reflects higher operating and maintenance costs and will help maintain service standards and fund future improvements. The company is also working with partners on possible ticket discounts of up to 30% from Jan 2027, with more details to be announced later.

Another mess - UiTM Holdings
Former executive faces RM42 mil charge: A former senior executive linked to UiTM Holdings is set to be charged over alleged abuse of power involving about RM42 mil in operational payments. MACC said the man, in his 50s, was arrested at his Klang Valley home and is suspected of approving payments in 2017 to several companies in which he allegedly had an interest.

UiTM Holdings calls RM157 mil losses a legacy issue: UiTM Holdings says its RM157 mil in accumulated losses are not new and date back from 2017 to 2021. Chairman Dr Fathul Bari Mat Jahya said the figure was reported in 2023 and later examined in the Auditor General’s Report and Public Accounts Committee proceedings. Fathul said the current leadership, which took over after the period in question, is focused on fixing the company rather than using past problems as an excuse. Mohd Shukrie Mohd Salleh has served as UiTM Holdings’ group CEO since Jan 2025, while Fathul was appointed Chairman in Aug 2025.

MACC’s investigation is still ongoing and covers several investments and financial decisions that allegedly caused losses amounting to several mil ringgit. One area under scrutiny is a 50-megawatt solar project in Gambang, Pahang. Fathul said the priority now is to rebuild the company and return value to UiTM. He has also proposed giving public university companies the first opportunity to compete for projects within their own university ecosystems, provided they meet the required standards.

The RM3k minimum wage
Micro, small and medium enterprises (MSMEs) could be temporarily exempted from the next minimum wage increase as the government studies how to increase pay without adding more pressure on businesses. Entrepreneur and Cooperatives Development Minister Steven Sim said other measures, including wage subsidies under the Progressive Wage Policy, could help wages rise alongside productivity. However, government spokesman Fahmi Fadzil later clarified that no final decision has been made on the new minimum wage rate or how it will be implemented. The earliest update is expected during the tabling of Budget 2027 on Oct 9. Malaysia’s current minimum wage is RM1,700 a month, which took effect in Aug 2025. The government is targeting a minimum monthly wage of RM3,000 by 2030 under the 13th Malaysia Plan (+76.5% in 3 years).
Definition of medium, small and micro SMEs here.

Shorts:

1. Tun M under observation at IJN
   Former Prime Minister Tun Dr Mahathir Mohamad was admitted to the National Heart Institute on Sept 29 for observation after what his son described as a stressful few days following the death of his wife Tun Dr Hasmah Mohd Ali. Mokhzani Mahathir said his father is doing well and there is no cause for concern. Hasmah, 100, passed away at IJN on Sept 28 and was later laid to rest at Pusara Negara in Putrajaya with full state funeral honours. Mahathir had been at IJN during her treatment.
   A study of longtime couples found that widows and widowers were at least 30% more likely to die of any cause during the first 6 months following a spouse’s death, compared to those who did not lose a partner. This phenomenon has a scientific name - Broken Heart Syndrome.

2. Grab adds kid-friendly rides
   Grab Malaysia has launched Kid-Friendly Rides in beta, offering booster seats for children aged four to 12. The service is currently available through advance booking for airport trips to and from KLIA Terminal 1 and Terminal 2, using selected Standard 6-Seater and Grab EV Exec vehicles. Drivers are trained to handle the child seats, which are provided by Koopers. A booster seat costs an extra RM10 for Standard Six-Seater rides, while it is free for Grab EV Exec bookings. Grab plans to expand the service across the Klang Valley before rolling it out in Penang and Johor Bahru.

3. Haze hangs over F1 weekend
   Severe haze is hanging over Kuala Lumpur just days before Malaysia’s first Formula 1 race in nine years at Sepang International Circuit. Kuala Lumpur and Singapore are currently among the world’s five most polluted cities, with smoke drifting in from wildfires in Indonesia. The Malaysian government says this weekend’s F1 race, Standard Chartered Marathon and Le Tour de Langkawi will still go ahead for now, although organisers are watching conditions closely. Forecasts suggest the dry weather and winds driving the haze could continue for another week, while recent rain may bring some temporary relief.

4. AROUND THE WORLD 🌎

Anthropic, a USD2 tril company with USD42 bil in net loss
We have not seen the whole thing yet, but Reuters got the first look at Anthropic’s IPO prospectus. Ambition-wise, Anthropic is right up there, as it thinks that AI will transform the global economy more profoundly than industrialisation, electricity and the internet. To power its AI ambitions, Anthropic has USD518 bil in future cloud, computing and infrastructure obligations in the coming years (bigger than our country’s GDP). For now, the company could be valued at about USD2 tril, compared to USD965 bil in May. This puts it on par with Elon Musk’s SpaceX market capitalisation of USD1.7 tril.

However, Anthropic has also warned that the pace of AI development needs to be slowed down, as autonomous AI can behave in unexpected and harmful ways, such as sabotaging code, assisting fraud and manipulating information. Meanwhile, here are the important numbers from Anthropic’s prospectus:

• Revenue grew 12-fold from USD0.4 bil in 2024 to USD4.6 bil in 2025.

• Net losses ballooned from USD8 bil to USD42 bil over the same period.

• USD34 bil is charged to reflect the estimated value of financing that could turn into Anthropic shares.

Anthropic is aiming to list after the Nov mid-term elections in the US.

Dots, OpenAI’s new AI agent…
First thoughts when we saw OpenAI’s name for its new AI agent: …
Yes, OpenAI named it Dots. Guess who also has that name? Two Chinese AI companies that are 1) Dots Studio, which makes vision-language models, and 2) DOTS, a US trademark application covering AI chatbot and personal-assistant software filed by Shanghai Shengdonshizhang Technology. OpenAI’s Dots introduces a fleet of always-on AI assistants that can keep working across projects after a user closes the chat.

It’s no wonder people are confused about the naming. And the internet went to town, memeing the company to oblivion. Something even more interesting happened. If you visit dot.com, you will be directed to Grok AI. Elon Musk is doing some trolling.

Another Musk troll - he named a project Macrohard. If you don’t get it, what is the opposite?

AI agents could trigger bank run
Banks are worried that AI agents could cause bank runs. The logic is this. People are increasingly using AI agents to manage and maximise their savings returns. That money sitting in a savings account generating only 1%? That is now going to a high-yield account run by fintech firms. Banks are worried that a sudden large outflow of money could cause their depositors to demand their money back, triggering a classic bank run. That also means that banks will not have enough funds to lend out money to other people and businesses.

All about Singapore
GIC goes big in Japan, buying 16 hotels
With the tourism boom in Japan, GIC, Singapore’s sovereign wealth fund, is taking a stake in the boom trend. It has acquired 16 hotels in Japan operated by Marriott International for about USD800 mil (RM3.3 bil) from US investment firm KKR & CO. GIC will take over Four Points Flex by Sheraton, a mid-price-range hotel chain operating in 11 cities, including Tokyo, Osaka, Kyoto and Fukuoka. Hotels are considered less vulnerable to inflation as they can easily raise room rates. This helps them maintain profitability even when the cost of living increases. The number of foreign visitors broke above 40 mil for the first time in 2025, reaching around 42.7 mil people.

FirstDate, Singapore’s matchmaking service for government workers
Love is in the… government office. Singapore has rolled out a matchmaking service called FirstDate for its government workers. It was launched this week for those aged 21 to 35 and says that it has ‘a different approach to dating’. It uses a Nobel-winning algorithm to match participants to one date at a time. This drew mixed responses among Singaporeans. Some described it as ‘dystopian’ while others think they might try it. And it has gotten serious criticism too. The age limit is one of them. One Reddit user said, ‘Since there are higher risks involved in having kids at 35 and older, the government just writes [the older singles] off’.

Singapore’s birth rate has declined to historic lows. Only 30,000 babies were born in 2025 - the first time in the past 60 years. Let’s hope people start having more babies.

SGD10,000 fine for fake AI image of a crocodile in Singapore?
Ye Lin, who is from Myanmar, is being charged by the Singaporean police for posting an AI-generated image of a saltwater crocodile in a popular reservoir to a colleague. More specifically, he is being charged with communicating a false message and obstructing the course of justice for allegedly deleting the picture and the application he used. Apparently, the national water agency had to suspend its work at the reservoir for two days last month after receiving information that a crocodile had been spotted. They then conducted a search and rescue operation. If Ye Lin is found guilty, he could face a fine of up to SGD10,000 (RM32,000) or a three-year prison sentence, or both, for sending a false message.
Though, the police did not disclose how they were notified of the false photo that Ye Lin sent to the colleague.

China and US to cut tariffs on USD60 bil products
Good news for global trade. China and the US have agreed to cut tariffs on USD30 bil (RM122.5 bil) of imports from each country, or USD60 bil combined. This includes products such as corn, cosmetics, household appliances, toys, etc. The US said that this improves market access for about 30% of US exports to China. China will trim duties on corn, wheat, sorghum, meat, dairy, and vegetable oils and meals from the US. The US will cut tariffs for small appliances, tableware, blankets, bed linens, toys, fireworks, flowers, and other holiday decorations.

5. FOR YOUR EYES 📺

Today’s special tribute to Ibu Negara

1. The life of Dr. Hasmah (no Siti) in few slides.

2. Tun Dr. Hasmah special appearance in Upin & Ipin.

3. When then 10-year-old Kashika Selvam interviewed Tun M and Tun Dr Hasmah back in 2018.

4. In a same same but different story, Dr Suri Srimathi, a 92-year-old gynaecologist from Hyderabad is still practising medicine for more than 60 years and still performs surgeries.

4. Not same. not related. Remember we shared a video that kids and escalator don’t go along well? Witnessed that right in front of my eyes yesterday. Fortunately, the kid was fine.