☕️ Former PM’s son arrested for drug possession

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

AI referrals to websites are quickly catching up to Google Search traffic. According to new data from market intelligence provider Similarweb, in June 2025, AI platforms generated over 1.1 bil referrals to the top 1,000 websites globally, with the data pointing towards a 357% increase compared to June 2024. However, Google Search still accounts for the majority of traffic, with 191 bil referrals in June 2025 alone. The report also noted that the category of news and media is of particular interest recently, ahead of other topics like e-commerce, science and education, tech/search/social media, and business, among others. Of the various platforms, ChatGPT accounted for 80% of the referrals to the top 1,000 websites. The end is nigh for Google?

AI has also been creating wealth, with dozens of new billionaires minted already in 2025. CB Insights reported that there are now 498 AI “unicorns” – companies with valuations exceeding USD1 bil (RM4.2 bil) – with a combined value of USD2.7 tril (RM11.3 tril). 100 of these startups were founded since 2023. There are also over 1,300 AI startups with valuations of over USD100 mil (RM420.3 mil) as well. Combined with the soaring stock prices of listed AI-related firms, the rise of infrastructure players building data centres, and the huge payouts for AI engineers, AI is creating personal wealth at an unprecedented scale, though mostly in private companies and centred around the San Francisco Bay Area.

On a lighter note, familiar study/work companion Jade – better known as Lofi Girl – has finally graduated after hours of chill music in the form of “lofi hip-hop radio beats to relax/study to”. Since the YouTube channel started in 2015, it has amassed over 15 mil subscribers, with over 1 bil views across its videos. A fan ran the numbers: Jade started studying since September 2017, meaning she studied for 68,673 hours, or seven years, 10 months, and 28 days. Still, despite her graduation, which saw congratulations pouring in from fans, it still seems to be business as usual for Jade.

3. IN MALAYSIA 🇲🇾

Rafizi Ramli's feud with Anwar's former pol-sec escalates to court case?
Businessman Farhash Wafa Salvador’s lawyer sent a letter to former Economy Minister Rafizi Ramli, demanding he remove a previously posted video, stop sharing the video and similar content and issue an apology within 48 hours. In the video, Rafizi mentioned meeting a whistleblower who exposed Farhash’s business dealings, and then claimed that Farhash was linked to his son’s syringe attack incident on Aug 13, 2025. He added that some people had tried to connect the syringe attack to former prime minister Ismail Sabri Yaakob and former health minister Khairy Jamaluddin as part of an attempt to derail the investigations.

Rafizi, however, has said that his previous statements are facts and is prepared to defend them in court. Rafizi even said, “I believe that if Farhash proceeds to file a lawsuit in court, it will become a matter of public interest and give my lawyers the opportunity to raise questions that have long been asked by various parties.”

Despite his current role as a businessman, Farhash once served as Prime Minister Anwar Ibrahim’s political secretary. Rafizi stated that Farhash wielded considerable influence, so much so that he led his own faction within PKR dubbed the “geng baju hitam”. Not long after meeting a whistleblower who linked Farhash to a mining scandal in Sabah, Rafizi’s 12-year old was attacked by unknown individuals. Coincidence? You tell us.
Rafizi explaining his side of the story here.

Biz

Big oinky business - Sarawak aims RM1 bil export of live pigs by 2030
Sarawak, which holds the distinction as one of Malaysia’s 5 high-income states, has set its sights on an ambitious target - achieving RM1 bil in export value of live pigs by 2030. Sarawak Food Industry, Commodity and Regional Development Minister Datuk Seri Dr Stephen Rundi Utom stated the state was confident that the state could meet this target once its 3 major pig producers become operational. The state minister had even led a high-level delegation on a working visit to Denmark to gain exposure to the country’s advanced practices in breeding, robotics, food safety and disease prevention. For context, Denmark’s pork industry is a major part of its agriculture sector, accounting for 30% of its agriculture sector, with 90% of the products being exported to 140 countries. Notably, Sarawak had started shipping live pigs to Singapore in 2017 (with RM169.8 mil worth of produce recorded by 2023), with its first ever batch of live pigs to Peninsular Malaysia being shipped in July 2025.

Thomson Medical rolls dice on RM18 bil Johor waterfront project
Singapore-listed Thomson Medical Group is the latest name among other respected businesses who have chosen to bet on the growing Johor-Singapore Special Economic Zone. They have unveiled plans for a 26-acre wide, massive waterfront development (combining healthcare, residential, hospitality, and commercial elements) in Johor Bay, Johor Bahru, with a projected gross development value of over RM18 bil. The development which may well become one of Southeast Asia’s largest private healthcare-linked estate ventures, will see Thomson Hospital Iskandariah, a multi-disciplinary private hospital, serve as its centerpiece. While this project may seem rather ambitious, it is worth noting that Thomson Medical Group has been in business since 1979 and operates multiple hospitals across Singapore, Malaysia and Vietnam. This “medical hub” in Johor Bay could potentially serve as an attractive medical tourism destination, drawing wealthy Singaporeans from across the Causeway.

MBI scandal drags 2 Bursa-listed companies into the mud
The MBI Group investment scheme saga, which saw over 2 million Chinese investors defrauded (under its alleged mastermind Teddy Teow), has introduced a few more characters - Ivory Properties and Magma Group. Ivory Properties, a Penang-based property developer with Practice Note 17 status, saw its group chief executive officer and executive director Low Eng Hock resigning from all positions. Low’s resignation comes amid reports linking him to the ongoing investigation into the MBI Group investment scheme, with Ivory Properties facing a potential delisting on September 3, 2025 unless an appeal is submitted. Meanwhile, Magma Group Berhad’s shares dropped by more than 30% after its executive chairman Lee Hock Seng was officially linked to the MBI investigations. Both Low and Lee were detained by the authorities as part of this MBI probe.

Shorts

1. PM announces another RM100 mil aid for Gaza conflict victims

   During the “Malam Himpunan dan Selawat Malaysiaku Bersama Gaza” rally in KL’s Dataran Merdeka, PM Anwar announced an additional RM100 mil in humanitarian aid for victims in the nearly 2-year long Gaza conflict which had seen the loss of over 62,000 lives. This follows the first RM100 mil aid given by the Malaysian government at the conflict’s start in 2023. The PM also requested major corporations to provide aid for the Palestinian people, having asked them to reflect on the peace and freedom enjoyed in Malaysia as a reason to support those in hardship.

2. Johor's seismic shocks may indicate unidentified active fault line

   According to a Universiti Tek­­no­logi Malaysia academic, the tremors felt in Segamat and Yong Peng over last weekend may indicate the presence of a previously unidentified active fault line in Johor. Dr. Mohd Zamri Ramli said earthquakes in Peninsular Malaysia may be rare but are not unprecedented, as tremors were recorded along the Bukit Tinggi fault line in Pahang between 2007 and 2009. Perhaps still dealing with the (after)shocks, Johor’s state government has since mulled introducing a disaster early warning system, similar to that of Japan and Korea.

3. Former PM’s son arrested for drug possession

   Over the weekend, Malaysia’s social media was buzzing with news concerning an ex-PM’s son being arrested. The man, in his 20s, was arrested after police found 3.16g of heroin and other drug-related equipment in his vehicle during a traffic stop on the Sprint Highway near the Damansara Toll Plaza. Curious Malaysians then played detectives by consulting ChatGPT and other AI tools to find possible answers, using information gleaned from the leaked MyKad details. With the internet at everyone’s disposal, it’s only a matter of time before the truth comes to light.

4. AROUND THE WORLD 🌎

Geopolitics of the Middle East

Five journalists among those killed in Israel's strike on Gaza hospital
Israel’s strike on Nasser hospital killed at least 20 people, including 5 journalists who worked for Reuters, the Associated Press, Al Jazeera, and others. They were at a live broadcasting location operated by Reuters just below the roof of the hospital when Israel struck the site twice. Israel admitted to striking the area, and the chief of the general staff had ordered an inquiry. The IDF “regrets any harm to uninvolved individuals” and denied targeting journalists. Turkey condemned the attack, calling the latest strikes on Gaza “an attack on press freedom and another war crime”.

Iran's supreme leader calls US issue "unsolvable"
Over in Iran, Ayatollah Ali Khamenei has called the current issue with the US “unsolvable”, and that Tehran would never bow to pressure to obey Washington, even as Iran faces off with Western powers over its nuclear programme. These comments come after Iran and European powers agreed to resume talks to restart full negotiations on curbing Tehran’s nuclear enrichment work. France, Britain, and Germany have said they could reactivate UN sanctions on Iran if Tehran does not return to the table.

$$Money$$

Dr Pepper parent to buy Dutch coffee firm JDE Peet in USD18 bil deal
Keurig Dr Pepper will be acquiring Dutch coffee and tea company JDE Peet in a USD18 bil deal that could be the caffeine hit Keurig Dr Pepper’s struggling coffee business needs. The takeover is expected to generate USD400 mil in cost synergies over three years. Following the acquisition, Keurig Dr Pepper intends to split up its beverage and coffee units as two separate US-listed companies as soon as it can. At end-2024, Keurig Dr Pepper reported total net sales of USD15.4 bil with a net profit of USD1.4 bil.
Fun fact: JDE acquired OLDTOWN White Coffee in 2018 in a deal valuing the coffee chain at RM1.47 bil

Vietnam's richest man founds taxi company, GSM, to take on Grab
Pham Nhat Vuong is looking to take on regional ride-hailing giant Grab, having started his own taxi company named Green & Smart Mobility (GSM). As much as the billionaire is leveraging his deep pockets to push aggressive pricing and the use of EVs from VinFast Auto (also owned by Vuong), GSM will face challenges as it takes on entrenched rivals in a thin-margin industry. The taxi firm has established a small presence in Southeast Asia so far and is expected to expand to India soon. Vuong sees GSM as a marketing tool to turn VinFast into a global EV brand. Still, the taxi firm intends to invest USD1 bil in the Philippines over the next three years, while, in Indonesia, GSM expects to have 10,000 of its cyan-coloured EV taxis on the nation’s streets by the end of 2025.

Shorts

1. India warns Pakistan of cross-border flooding
   The two, at loggerheads with one another, are both grappling with deadly floods and relentless monsoon rains. However, the big surprise comes from India warning Pakistan, especially after the former accused the latter of a deadly attack on Hindu tourists in Indian Kashmir. India said the warning was shared on “humanitarian grounds”.

2. Airbnb cofounder now US chief design officer

   Joe Gebbia, who cofounded Airbnb, is now the US’ first chief design officer following his appointment by US President Trump. His directive is to update government services to be “as satisfying to use as the Apple Store”. The creation of the role and the affiliated National Design Studio was done through an executive order signed last week. As part of the order to “fill the digital potholes”, federal agency chiefs will have to consult with Gebbia and produce initial results by July 4, 2026.

3. US confirms nation's first travel-associated human screwworm case
   The US reported the case to be the first human case in the country of travel-associated New World screwworm – a flesh-eating parasite – with the patient reportedly picking up the parasite in El Salvador. This report is expected to rattle the US cattle industry players, who were already on high alert, keeping watch for potential US infestations. The US Department of Agriculture estimated that a screwworm outbreak in Texas – the biggest US cattle-producing state – could cost about USD1.8 bil in livestock deaths, labour costs, and medication expenses.

5. FOR YOUR EYES 📺

1. Wild Red Bull stunt - a biker backflipping on moving trucks.

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2. CNA’s interesting documentary on investigating fake honey in the market.