☕️ Ferrari, Lamborghini watch out - meet Bufori, Malaysian-made sports car

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Housing and Local Government Minister Nga Kor Ming reported that there are almost 900 hotels registered in Malaysia as of June 2025, with Kuala Lumpur recording the highest number of hotels with 129. Second place goes to Selangor, with 88 hotels, followed by Penang with 84. Putrajaya and Perlis are tied for the lowest number of hotels at eight each. Meanwhile, the Housing and Local Government Ministry and the Tourism, Arts and Culture Ministry will be jointly presenting guidelines for short-term rental accommodations (STRA), which aim to overcome issues like disturbances, unregistered STRAs, and those that do not provide services on par with commercial premises like hotels.

A report from the Federal Bureau of Investigation (FBI) found that crime in the US decreased in 2024 overall, continuing a trend of improved public safety after a spike in murders during the COVID-19 pandemic. The report estimates that 1,221,345 incidents of violent crime – which include murder, rape, robbery, and aggravated assault offences – took place in the US last year, down 4.5% from 2023. Intentional homicides, specifically, decreased by 14.9%. However, the murder rate in the US remains significantly higher than most of the world at 5 for every 100,000 people. The report also showed that, overall, a violent crime occurred in the US every 26 seconds, a murder every 31 minutes, and a rape offence every four minutes. Somehow, that trip to the US does not seem as appealing anymore.

As of 2024, there were nearly 450 lions owned by people in Thailand, according to conservation group Wildlife Friends Foundation Thailand. However, nearly 350 more lions they encountered in their tracking efforts are marked as “lost to follow-up” after their whereabouts could not be confirmed for a year. This could indicate unreported deaths, an animal removed from display, or in the worst-case scenario, an animal that has been slaughtered for parts or taken across the border. The upward trend in lion ownership in Thailand, where it is legal, was prompted by social media, where owners post lighthearted content with lions. However, while owners are required to register and microchip lions as well as inform authorities before moving them, there are no breeding caps, few enclosure or welfare requirements, and no controls on liger or tigon hybrids.

3. IN MALAYSIA 🇲🇾

Parliamentary legislative spree

• Urban Renewal Act delayed
  Before the second reading of the Urban Renewal Act, PM Anwar Ibrahim lambasted the opposition that accused him of selling out the Malays, as the Act allegedly would displace the Malays from their homes. Anwar stated that the bill is intended to uplift the living conditions of Malays who have been staying in dilapidated housing areas. Under the proposed Urban Renewal Bill, buildings below 30 years need 80% approval before they can be redeveloped, while older premises only require the agreement of at least 75% of owners. Opposition and Tasek Gelugor MP Wan Saiful Wan Jan said that the main reason why the opposition is so against the Act was because it contained a few “bad clauses”, especially concerning the consent threshold, building’s age, and the lack of a guarantee for fair compensation. Even members of the Unity Government wanted the bill delayed and reviewed to allow for engagements with stakeholders. The MPs can live to argue another day as the Urban Renewal Act was not put to vote before the current sitting of the Dewan Rakyat was adjourned.

• Gig Workers Bill approved
  The Parliament approved the much-needed Gig Workers Bill 2025, which officially recognises gig workers as a distinct category of the labour force. With this, over 1.2 mil Malaysians who earn their living through gigs will be safeguarded through mandatory written service agreements between workers and contracting entities, which will clearly state minimum standards for payment terms, working arrangements, insurance coverage, and termination procedures. There will also be a Gig Workers Tribunal established, giving gig workers the right to be heard before any suspension.

Does Malaysia really lack the capabilities for the rare earth industry?
The Natural Resources and Environmental Sustainability (NRES) Ministry told Parliament that Malaysia lacks the technology and expertise needed to harness its rare earth elements (REE) resources. The ministry claimed that, despite multiple parties saying they have the relevant expertise and technology, it has yet to be proven at a commercially viable level.

But, if there really is no commercially viable technology, why is Australian-based Lynas Rare Earths Ltd planning to utilise part of a RM2.1 bil share sales’ proceeds to expand Malaysian processing plants? Recently, in May, Lynas’ plant in Kuantan, Pahang successfully produced a heavy rare earth named dysprosium oxide, making it the only commercial producer of separated heavy rare earths outside of China.

Even as the ministry blamed Malaysia’s “incompetence” for the state of the local REE industry, other countries are rushing in to provide solutions. One example is China, which is prepared to provide Malaysia with technical and technological assistance in rare earths processing. This is big news as traditionally, China is quite protective of its rare earth processing technology. A 2019 departmental estimate reported Malaysia has 16.1 mil metric tonnes of rare earth deposits, compared to China’s 44 mil metric tonnes of deposits.

Good times ahead for IJM Corporation?
IJM Corporation Bhd’s wholly-owned subsidiary, New Pantai Expressway Sdn Bhd (NPE) has secured an agreement with Putrajaya to extend the NPE by another 15km. The extension will start from the Pantai Dalam toll plaza and end at Jalan Istana via Jalan Syed Putra. IJM has secured approvals from two banks to front up to RM1.4 bil to finance the project.

Meanwhile, IJM CEO Lee Chun Fai confirmed IJM has submitted a proposal for Permodalan Nasional Bhd’s (PNB) highway assets. Although no details were provided, it was previously speculated that PNB was looking to dispose of its toll road assets under Projek Lintasan Kota Holdings Sdn Bhd, such as the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) and Damansara-Shah Alam Elevated Expressway (DASH).

400 arrested for running alleged scam call centre
Police arrested 400 people allegedly involved in a scam call centre following a major raid on an office in Bangsar South, Kuala Lumpur. Kuala Lumpur police chief Fadil Marsus confirmed the raid but refused to disclose any details. A quick web search revealed that Singapore-based Doo Group, which is also a Manchester United sponsor, admitted that its Malaysian office in Bangsar South was recently inspected by local police. The company said the visit was part of a broader nationwide campaign targeting illegal call centres.

4. AROUND THE WORLD 🌎

India and China mending ties
The two most populous Asian countries, India and China, appear to be mending their ties, with China’s President Xi Jinping reportedly writing a letter to Indian counterpart Droupadi Murmu in March to test the waters on improving their relationship amid US President Trump’s increasingly aggressive trade war moves with China. In June, Indian PM Modi’s government began making a serious effort to improve relations with China, with their ties appearing to quickly grow stronger as August came. Stung by Trump’s tariffs, both nations took a major step last week to move beyond a deadly 2020 border clash by agreeing to redouble efforts to settle their border disputes, which date back to the colonial era. Experts say that the economic logic of improved ties between the 2 countries is undeniable: China’s slowing economy means India, with its 1.4 bil youth-skewed population, could be a potential new market as China faces rising protectionism in the US, Europe and elsewhere. Indian officials, meanwhile, are increasingly realising they need Chinese investment in factories if they’re ever to meet Modi’s fledgling ambition to boost manufacturing toward 25% of GDP. This weekend, Modi will make his first trip to China in seven years. Interesting that Trump could be the common denominator here - he seems like a good incentive for both countries to reconsider their options in terms of building trust and settling their differences. 

In America:
Another mass shooting leaves two children dead
Two young children aged 8 and 10 were killed, while 17 others — mostly children — were injured in yet another mass shooting tragedy, this time in a church in the US state of Minneapolis. The shooter fired multiple rounds into the Annunciation Church as dozens of young students attended a Mass marking their first week back to school. The mass shooting is the latest in a long line of deadly school attacks in the US, where guns outnumber people and attempts to restrict access to firearms face perennial political deadlock. This year, there have been at least 287 mass shootings — with a shooting defined as involving at least four victims, dead or wounded — across the country, according to the Gun Violence Archive. At least 16,700 people were killed in US firearms violence last year, not including suicides.

Trump’s latest US visa clampdown targets students and journalists
The Trump administration’s latest move to tighten legal immigration has proposed that foreigners not be allowed to stay more than four years on student visas, while
foreign journalists on assignment would be limited to stays of 240 days, with the option to apply for additional 240-day extensions. The Department of Homeland Security said that past administrations have allowed foreign students and other visa holders to remain in the US virtually indefinitely, posing safety risks, costing untold amounts of taxpayer dollars and disadvantaging US citizens. Funny that they did not explain how Americans were hurt by international students when, according to Commerce Department figures, they contributed more than USD50 bil to the US economy in 2023. The US welcomed more than 1.1 mil international students in the 2023–24 academic year — more than any other country — with foreigners generally paying full tuition.

AI world:
Vibe Hacking - Hacking Made Easy?
There’s vibe coding: non-coders using AI to write codes through natural language, and then there’s vibe hacking: AI writing code for hacking. In AirAsia style - now everyone can hack. Top AI company Anthropic, who created chatbot Claude, has reported that they have detected and thwarted cybercriminals attempting to carry out hacks using the startup's AI tool. Advances in AI technology mean hackers can use AI to "perform" cyberattacks throughout the entire operation, with smaller teams using AI tools to write malicious codes for crimes such as ransom, theft and extortion. Now, hackers no longer require the same level of technical expertise because they can instruct tools like Claude to create the code. Anthropic said it was sharing its findings so that other researchers and organisations could "strengthen their own defences against the abuse of AI systems. Vibe coding was coined by AI researcher Andrej Karpathy in early 2025.

UN establishes AI advisory panel
The United Nations has formed the Independent International Scientific Panel on Artificial Intelligence, dedicated to addressing concerns related to the development of revolutionary AI technology. The move follows member states voicing out fear that the tool could threaten democracy and human rights. Among other activities, the panel will “issue evidence-based scientific assessments synthesising and analysing existing research related to the opportunities, risks, and impacts of artificial intelligence”. The resolution forming the panel also foresees what it calls an annual global dialogue among governments and other stake-holders on AI governance. The first of these dialogue sessions will take place in Geneva in 2026 at a world summit on AI. Member states already worried about SkyNet, it seems.

Shorts:

1. Kim and Putin to attend parade in China
   China will be holding a “Victory Day” parade in Tiananmen Square in Beijing next week, and the highlight of the guests would be North Korean leader Kim Jong Un and Russian President Vladimir Putin, while other attendants include other world leaders such as Iranian President Masoud Pezeshkian, Belarusian President Alexander Lukashenko, and Indonesian President Prabowo Subianto. The event is held to commemorate 80 years since the end of World War II, featuring a cast of thousands and a showcase of China’s latest military technology. China is a treaty ally for Pyongyang and Moscow, providing a crucial economic lifeline amid international sanctions faced by the countries.

2. How about using a smartphone just 2 hours a day?
   In an effort to address growing concerns about the physical and psychological toll of excessive smartphone usage, officials in Toyoake in Aichi prefecture, Japan have proposed a draft ordinance to restrict resident smartphone usage to two hours a day. The draft also urges primary school students and younger children to avoid using smartphones or tablets after 9pm, while teenagers and adults are encouraged to set their devices aside after 10pm. However, this is not mandatory and no penalties will be put in place for noncompliance. The proposal has not gone down well with many of Toyoake’s 69,000 residents - some feel like it is an attack on individual freedom, while others think it is simply unworkable.

5. FOR YOUR EYES 📺

Made in Malaysia

1. There’s Ferrari, there’s Lamborghini and now there’s Bufori - Malaysian-made sports car. It’s made end-to-end in Malaysia from design, engineering and manufacturing in Kepong (woot!). But price tag ain’t Malaysian - RM2 mil per piece.

paultancars

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2. No Rolex, no cry. Perhaps, give Malaysian watch brands a shot? Read more here.

3. Made in France, but making waves in Malaysia - the story of Decathlon. The company made EUR16.2 bil (RM79.8 bil) in revenue in 2024.

Never knew there were so many expert levels of juggling. Selamat Hari Merdeka and have a happy long weekend!

justjugglerin

104K followers

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