☕️ F1 Fever: Bahrain to set ticket prices but you can be a volunteer for RM60/day + food

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

RM2.77 bil – That’s the total value of the 14,201 completed residential (average of ~RM194k) units left unsold as of the first quarter of the year. The 14,201 units also account for 43.3% of Malaysia’s total property overhang, with the vast majority concentrated in high-density economic hubs like the Klang Valley, Johor, and Perak. This data shatters the long-held real estate assumption that any property priced below RM300,000 would find immediate mass-market demand. Instead, it exposes the deeper crisis of product mismatch, location flaws, financing barriers, and speculative development assumptions. One example is the illusion of the total cost of ownership, which highlights the burden of ownership for lower- and middle-income households due to the need to secure upfront capital and keep up with ongoing monthly charges such as maintenance fees and utility bills.

RM20 bil – According to the Finance Ministry, dividends from Petronas are estimated to amount to that much, which is only about 5% to 6% of the 2026 Federal Government revenue, showing that Putrajaya is not overly dependent on the performance of the national oil company. The Federal Government’s revenue is projected at RM343.1 bil, of which more than 70%, or RM270.4 bil, is tax revenue. The Petronas dividend forms part of the RM72.7 bil in non-tax revenue. The ministry said the government remains committed to reducing its reliance on petroleum-related revenue due to the volatility in global crude oil prices. Historically, petroleum-related revenue accounted for its highest proportion of total government revenue at 41.3% in 2009, but this has reduced to 17.5% in 2025, following revenue measures implemented since 2023.

6% – Ten years after the Brexit referendum, economists estimate that the UK economy took that much of a hit. This estimate came from economists analysing internal Bank of England data about the decisions, views, and financial results of thousands of British companies, the same data that the Bank of England uses to decide on interest rates. The economists were studying lost growth by trying to reconstruct how the UK would have grown if it had not voted to leave the EU and found that about half the economic hit came from the sheer surprise and uncertainty of the post-referendum period while the rest came from rising trade barriers after the UK left the customs union and single market in 2021.

3. IN MALAYSIA 🇲🇾

Microplastics threaten Pulau Redang’s reefs
Pulau Redang’s famous coral reefs are facing growing pressure from microplastic pollution, with a study finding contamination in 64% of 200 coral samples. Researchers from Universiti Malaysia Terengganu detected 285 microplastic particles across five locations. Long Beach recorded the highest level, averaging 1.31 particles per gram of coral, followed by Pasir Akar, Kerengga Besar, Chagar Hutang and Mak Simpan. Researchers found higher pollution levels near resorts, dive centres, water sports areas and tourist boat routes. Long Beach also had more marine rubbish and plastic trapped on its reefs than the other locations. Polyethylene terephthalate, which is commonly used in drink bottles and food packaging, was the most frequently detected type of plastic.

Researchers said Pulau Redang’s official “excellent” seawater rating may not reflect pollution levels closer to the coast. Government samples are generally collected in open water, while coastal areas face greater pressure from tourism, sewage and marine waste. Tides, waves and dilution can also spread pollutants, making water quality readings appear better than the actual conditions at certain locations. Current marine water quality assessments cover only six main parameters and do not include emerging pollutants such as microplastics and nanoplastics. Researchers said coral health, marine rubbish and plastic contamination should also be examined to provide a clearer picture of the island’s marine ecosystem.

Microplastics were found in every human and dog testicle in a study.

F1 fever still persisting
Bahrain to set Sepang F1 ticket prices: Bahrain will set ticket prices and keep the revenue from ticket sales for its one-off Formula 1 race at the Sepang International Circuit. Tiket Madani, cam mane? SIC chief executive officer Azhan Shafriman Hanif said the circuit was negotiating for lower-priced tickets or a special MyKad rate for Malaysians. However, Bahrain will make the final decision because it is paying the hosting rights fee. The fee is estimated at between USD70 mil and USD80 mil (about RM268 mil and RM327 mil), while the total cost of staging the event could exceed RM300 mil.

SIC and Bahrain are also expected to share about RM40 mil in operational costs, including track preparation and event staging. Formula 1 representatives have inspected the circuit and found no major problems. Sepang will not need resurfacing, although its run-off areas and infrastructure will be upgraded before the race. Azhan said the event could generate more than RM1 bil in economic benefits through tourism, sponsorships and other commercial activities.

Sepang F1 seeks RM60-a-day volunteers: SIC has also opened volunteer applications for the Bahrain F1 Grand Prix, which will take place from Oct 2 to 4. Successful applicants will receive RM60 a day and meals throughout the race weekend. Their working hours will depend on their assigned roles and the organiser’s requirements. Applicants must submit their personal details, home address, and any previous volunteering experience at the circuit through SIC’s official website (check it out here). The RM60 daily allowance has attracted mixed reactions online, with some questioning whether it is suitable for an event as large as Formula 1.

Police arrest 355 in Forest City scam raids
Lately, there’s been a lot of drama coming out from Forest City. After Network School, now we have scam centres. Police have arrested 355 people after uncovering two online fraud syndicates operating from apartments and bungalows in Forest City. The raid on Jul 15 targeted 27 apartment units and five bungalows that were allegedly being used as scam call centres. Those arrested included 309 Chinese nationals, 19 Indonesians, four Myanmar nationals and three Malaysians. Police believe one syndicate targeted victims in China and Indonesia through fake cryptocurrency investments and love scams. The second group allegedly posed as law firms while promoting bogus investments and cryptocurrency schemes, mainly to victims in China. The suspects, aged between 20 and 58, allegedly contacted victims through Telegram, WhatsApp and TikTok while earning between RM2,500 and RM4,000 a month. It seems Network School was not the only ‘network’ operating in Forest City.

Favco unit faces USD52.5 mil crane lawsuit
Favelle Favco Bhd’s wholly owned US subsidiary has been named as one of 15 defendants in a New York lawsuit seeking USD52.5 mil (RM214.8 mil) in damages. The claim relates to a crane collapse in Midtown Manhattan on Jul 26, 2023 (watch the video here). During the incident, the boom of a 45-storey crane carrying 16 tonnes of concrete struck a nearby building before crashing onto the street. Insurance company Employers Insurance Company of Wausau filed the action after compensating 555 Tenth Avenue Leasehold Condominium for losses linked to the collapse. Favelle Favco Cranes (USA) Inc was served with a summons on Jul 23. Favelle Favco said its US unit had only supplied the crane and did not own, operate or maintain it when the incident occurred. The company added that an independent investigation found no manufacturing defect linked to the collapse. The group has notified its insurer and plans to defend the claim.

4. AROUND THE WORLD 🌎

USD7 mil a day for shareholders until Paramount-WB deal closes
Paramount Skydance CEO David Ellison’s (his father is Oracle founder Larry Ellison) family have deep pockets. So deep, they are willing to pay Warner Bros shareholders USD7 mil (RM28.64 mil) each day until the Paramount-Warner Bros merger closes. Attorneys general from 12 US states have sued Paramount on the grounds of anticompetition, delaying the merger. And Paramount has willingly agreed to delay until June 2027 or five days after the trial ends.

This tactic is possibly done to put pressure on the judge overseeing the case that the company ‘would suffer very severe harm’ if Paramount pays the ‘ticking fee’ which can amount to up to USD1.3 bil if the deal is delayed for six months. The company can pay at most USD1.95 bil - in the grand scheme of things, it’s just 1.2% of the deal value of USD110 bil. But Paramount seems to be too well-prepared, as it has already allocated tens of billions in cash in ticking fees. However, if the deal falls through, Paramount is on the hook for USD7 bil. Let’s not forget also that there is a USD2.8 bil ‘breakup fee’ to Netflix.
Time will tell how deep Ellison’s pockets will go.

Death penalty for scam operators in Myanmar
If you are a scam centre operator forcing people to work for you, you might be headed to the gallows. Myanmar has passed a law that will allow the death sentence for forced labour in cyber-scam operations. If you didn’t know, Southeast Asian scam networks caused combined losses of up to USD114 bil (RM466.49 bil) in 2025 in Asia and Oceania. The Anti-Online Scam Bill has a 10-year prison sentence for offenders, but if the victims die, ‘the death penalty shall be imposed’. 

However, how it will be enforced is a big question mark. Most of the country is now under the control of warring ethnic armed groups. And the ‘Myanmar government’ needs to clean up its act as it seeks to break its international isolation after launching a military coup five years ago that threw the country into a civil war. More than 5,300 people are still trapped in online scam centres in Myanmar near the Thai border, according to estimates from Thai-based Civil Society Network for Human Trafficking Victim Assistance.

Law and Order
J&J’s USD5.5 bil settlements for talc linked to cancer
Johnson & Johnson has agreed to pay USD5.5 bil (RM22.5 bil) to settle 69,000 lawsuits in the US federal and state courts, where its talc-based baby powder has been alleged to have caused ovarian cancer. Talc is used in cosmetics and baby products, but the World Health Organisation said that talc is ‘probably carcinogenic to humans’. J&J defends its position by saying that there is no evidence for this but stopped selling talc-based baby powder in the US since 2020 and worldwide since 2023.

The legal troubles started in 2016 when a US jury ordered J&J to pay USD72 mil to the family of a woman who died of ovarian cancer due to talc. Even though it was overturned a year later, more and more cases came for J&J. The USD5.5 bil settlement will only go through if 95% of the claimants agree to it. However, this does not cover 7,000 claimants from the UK as the case has since gone to the UK High Court.

Boeing 737 Max runs into trouble again
First it was a flying door; now it could be flying seats. The US Federal Aviation Administration (FAA) has issued a warning that seats on hundreds of Boeing 737 Max in the US may need to be inspected in case they were incorrectly installed. This directive applies to 453 jets in the US because the FAA only has jurisdiction in the US. There are currently 823 Boeing 737 Max aircraft in the US and 2,300 worldwide. The FAA received a report that some passenger seat assemblies had not been correctly installed. The seats could injure passengers and crew members if there is an emergency landing, and they could block the aisle and slow the evacuation process. It said that it takes one hour to inspect the seats on each 737, and another hour to repair them.

Sports & Movies

1. EPL’s new rules for ‘fake’ goalkeeping injury
   What was intended as medical treatment for football players was exploited as a way for managers to convey tactical instructions to their players. And English football is having none of that. It is trialling a new system next season to stop teams from exploiting ‘tactical goalkeeper timeouts’. Apparently, goalkeepers were calling for medical attention after feigning contact with an opponent so that their managers could give instructions during the break. Under the trial, if play is stopped because of a goalkeeper injury, the manager must immediately nominate an outfield player to leave the pitch for at least one minute after play resumes. The FA has also said that this has ‘disrupted momentum, slowed the game down or created opportunities for tactical instruction’. Two incidents come to mind: Arsenal goalkeeper David Raya received treatment three times as Arsenal held on for a crucial 1-0 victory, and Manchester City goalkeeper Gianluigi Donnarumma feigned injury.

2. Emily Wilson on The Odyssey, ‘The writing is abysmal’
   An interesting fact about Christopher Nolan's latest hit film, The Odyssey (or Oh The Sea, according to Singaporeans, which also does make sense) — he cited Emily Wilson’s translation of Homer’s Odyssey as an influence on his adaptation of the poem for the movie. But Emily did not have kind words for the movie. In her publication in the London Review of Books, she wrote that ‘the vision is too confused’, ‘characters too underdeveloped’, ‘narrative structure is gimmicky’, and ‘the writing is abysmal’. She also criticised the film for featuring more female characters while giving them less dialogue, and that the characters only serve to provide aid to the white protagonist. Despite her scathing review, she acknowledged that his movie is sparking interest in the classics, where her translation has been flying off the shelves. Reviews by mainstream media have been very positive. The Telegraph declared the movie as ‘the film of the year’, the Times described it as ‘a masterpiece in every way’, and the Standard praised the film as a ‘colossal piece of cinema’. Her review of the movie might be drowned out.

5. FOR YOUR EYES 📺

Learning Music

1. The sound of khaen, a traditional wind instrument from Laos and Thailand. As the most popular comment went - sounds like “everything is going to be okya”.

2. Another new instrument I just discovered - the handpan. Widely used for meditation, relaxation, and intuitive musical expression. Kinda modern instrument, as it was created in the early 2000s.

3. Mozart’s Turkish March meets Brazilian samba style.

4. Next you board AirBorneo, enjoy the music. Made by Sarawakians.