☕️ Fuel supply secured through Aug, oil price volatility expected to ease

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

A child a day – According to UNICEF, one Palestinian child has been killed every day on average for more than eight months in Gaza, despite there being a ceasefire with Israel in place. The UN children’s agency described the truce as a “cruel and deadly illusion”, saying that Israel continues to attack the besieged enclave, with at least 265 Palestinian children killed since Oct 2025, when the ceasefire came into effect.

75% – According to Home Minister Saifuddin Nasution Ismail, nearly 75% of the 192,852 recorded drug abuse cases involved Malaysians aged between 15 and 39. This age group is the nation’s most productive age bracket, and the numbers show a worrying trend. The minister also shared that about 560 individuals for every 100,000 Malaysians were involved in drug abuse. The country’s prison population of 87,000 reflects this trend, with 70 out of every 100 prison inmates linked to drugs, either through convictions or while on remand.

NTD50,000 (RM6495.28) – Taiwanese parents found themselves legally obligated to monitor their children’s screen time when the “Child and Youth Welfare and Protection Act” came into effect in 2015. The Taiwanese government can fine parents up to NTD50,000 if their child’s use of electronic devices “exceeds a reasonable time”. The law considers excess screen time to be the equivalent of vices like smoking, drinking, using drugs, and chewing betel nuts.

3. IN MALAYSIA 🇲🇾

Dengue strikes back
Malaysia is seeing a clear shift in its dengue landscape as the DENV-3 strain becomes the dominant circulating serotype, with more than 38,000 cases recorded in the first half of the year. Data from the Health Ministry’s iDengue system showed 38,842 cases between Jan 4 and June 27, with daily cases on June 27 at 310. Selangor recorded the highest number at 17,701 cases, followed by Kuala Lumpur with 7,191 cases and Johor with 4,591 cases. Health officials also noted that Malaysia is now ranked third in Asean for dengue cases this year, showing continued pressure on the public health system.

Experts say the rise of DENV-3 is not due to higher infectivity, but due to shifts in population immunity against different dengue serotypes. This change increases the number of people who are vulnerable to infection and may raise the risk of more severe illness in some cases, especially for those infected again with a different serotype. Symptoms remain similar to other dengue infections, including high fever, headache, pain behind the eyes, muscle and joint pain, nausea, vomiting, rash and fatigue. Doctors stress that warning signs such as persistent vomiting, severe abdominal pain, bleeding, breathing difficulty or worsening condition even after the fever subsides require urgent medical attention.

MH370 search extended again
Malaysia has agreed to extend its agreement with Ocean Infinity from the UK to continue the underwater search for MH370 in the southern Indian Ocean for another 12 months, from Jul 1, 2026 to June 30, 2027. The Cabinet decision was confirmed by Transport Minister Anthony Loke, who said it reflects the government’s continued commitment to finding closure for the families affected by the disappearance of the aircraft. The arrangement keeps the same terms, including the “no find, no fee” model, meaning Malaysia will not pay if no wreckage is found. However, a payment of USD70 mil (RM285 mil) will be made if the aircraft is successfully located.

The extension allows the remaining search area of about 7,428.54 sq km to be fully covered, with operations scheduled around Ocean Infinity’s commitments and calmer sea conditions expected between Nov and Apr 2027. Flight MH370, carrying 239 people from Kuala Lumpur to Beijing on Mar 8, 2014, disappeared from radar and never reached its destination, triggering one of the largest and most expensive search operations in aviation history.

SRKK AI IPO frenzy
SRKK AI Bhd is heading into its ACE Market debut on Jul 9 after overwhelming demand for its initial public offering, which was oversubscribed by 312.3 times. The retail portion drew about RM1.4 bil in applications from the public, with 29,428 applications chasing 4.45 bil shares against just 14.2 mil shares offered. This marks the highest oversubscription recorded for a Bursa Malaysia IPO so far this year, while retail demand is also among the largest in 2026. Did the name contribute to this super oversubscription?

The IPO will raise RM20.48 mil in fresh capital, alongside RM4.16 mil from an offer for sale by existing shareholders. The group plans to use the proceeds for artificial intelligence initiatives, including AI labs, an AI academy, cybersecurity upgrades, and expansion into Indonesia. SRKK AI, a digital transformation provider and Microsoft partner with all six Microsoft Solution Partner designations, said AI-driven solutions contributed about 11% of FY2025 revenue, highlighting its growing focus on AI as it scales.

Fuel craze
Fuel supply secured till Aug: Malaysia has sufficient fuel supplies to last until Aug, with the government working to maintain stability amid global uncertainty, according to Economy Minister Akmal Nasrullah Mohd Nasir. In a briefing to the Dewan Rakyat, he said the focus is to ensure daily life and key sectors continue operating smoothly, including public transport, logistics, businesses and essential services. Rice supply, including buffer stocks, is expected to last five to six months, while basic food items such as chicken, eggs, fish, milk and fruit are expected to last at least one month. The government has since also introduced measures to manage fuel use, including a reduced Budi95 subsidised fuel quota of 200 litres per month, cash assistance for farmers and smallholders, and hybrid work arrangements for civil servants.

Oil volatility expected to ease: On the global front, energy markets remain volatile but are expected to start stabilising gradually from the third quarter, although the outlook remains highly dependent on geopolitical developments. Brent crude, which hit USD144.50 (RM588) per barrel during earlier conflict peaks, has eased to around USD70.67 per barrel, close to pre-conflict levels of USD70 to USD80 (RM285 to RM326). However, renewed tensions in West Asia, including exchanges between the US and Iran despite a fragile ceasefire, continue to weigh on sentiment.

4. AROUND THE WORLD 🌎

US and Iran stand down
Both sides accused each other of violating the fragile ceasefire signed on June 17. Iran fired projectiles against a cargo ship in the Strait of Hormuz. And the US retaliated with a series of strikes against Iran. Fearing the impact on global oil markets, the US and Iran have agreed to stand down for the time being. Ships can now move ‘freely’ again through the Strait of Hormuz. Last Friday, the US mediated the signing of a ceasefire between Israel and Lebanon. Meanwhile, on the US and Iran front, negotiations are continuing according to the 14-point memorandum of understanding signed. It may only be a matter of time before both sides exchange strikes again.

Article 5: Lost in Translation
It seems that the US and Iran have different interpretations of Article 5 in the memorandum of understanding (MoU). Here’s what Article 5 says.
“Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge for 60 days only from the Persian Gulf to the Sea of Oman and vice versa”.

So, Iran has taken this to mean that the Strait of Hormuz remains under the ‘total oversight and management of Iran through the 30 coming days’ and that the responsibility lies entirely with Iran. It is also trying to charge ships using the Strait. The US, of course, doesn’t agree and has been in discussion with Oman and the International Maritime Organisation to push transit of vessels through the Southern route along Oman’s territorial waters. Iran is not happy about this and has warned four ships to use the ‘only authorised route’ along Iran’s northern corridors. Sounds like a long two months ahead for the Straits of Hormuz.

Airtrunk IPO to be biggest in Singapore this year
It has been a relatively good year for the Singapore market. BlackRock-backed Airtrunk is a data centre operator in Australia, Hong Kong, India, Japan, Malaysia, Singapore and Saudi Arabia, and intends to list its real estate investment trust (REIT) in Singapore. It is nearing a confidential IPO to raise about USD1.5 bil (RM6.11 bil), making it the biggest listing since NetLink NBN Trust raised USD1.9 bil in 2017. Citigroup, DBS and Jefferies Financial Group are helping Airtrunk on the IPO.

Comcast splits media and tech businesses
When the whole gets too messy and complicated, spin them off so that investors get a better view of the parts on their own. That’s what Comcast is trying to do after its share price fell over the last 12 months. It is separating its media and technology businesses into two publicly traded companies: NBCUniversal and Comcast. The media arm will have the theme parks division, Universal film and television studios, NBC and Telemundo networks, Peacock, Bravo and Sky. The remaining Comcast company will focus on its cable, wireless and business services arm.

The move is expected to take a year, and Comcast will retain 19.9% in NBCUniversal for up to one year after the transaction is completed. Comcast's share price has declined by 30% over the past 12 months as viewers shift from TV bundles to streaming. Earlier in the year, Comcast spun off its cable TV networks and digital assets to a separate public company, Versant Media.

Shorts:

1. Thai teen strangled and killed
   A Thai teen girl, aged only 17, was found dead in the seaside city of Pattaya, Thailand. Her naked body was found stuffed inside a suitcase dumped in waist-high grass near a railway track. She died of strangulation. The suspect is a middle-aged Australian man, Simon Peter Carman. They were seen together at his apartment through CCTV footage (view here - warning, disturbing), and police detained him at the airport where he was trying to leave the country. He said that he did not intend to kill her, but did strangle her which led to her death, according to statements taken by the Thai police. Police have also matched the bag seen on CCTV at his apartment to the same one where she was stuffed in. He has yet to appoint a lawyer, and investigations are still underway as the prosecution waits for the autopsy of the girl.

2. Women find job easier after losing weight on GLP-1
   Apparently, women who lost weight from taking GLP-1 drugs had an easier time looking for jobs and getting married. GLP-1 drugs is a new class of medicine to treat diabetes but have been increasingly used for weight loss because they reduce appetite. Rebecca Diamond, an economics professor from Harvard University, found that non-working women who started GLP-1 drugs were 27% more likely to start a job within 18 months of their weight loss. Meanwhile, they were also 29% more likely to have started a relationship or gotten married. Rebecca said that the paper has not been peer-reviewed yet and other factors could be at play. But it does paint an uncomfortable reality for many women out there that obesity is penalised disproportionately in society and the economy.

5. FOR YOUR EYES 📺

Nature, beautiful scary nature

1. Insane shot of a volcano eruption. The photographer survived to post it on social media.

2. When using UV light instead of a normal torch turns plants and insects into Avatar-like scene.

3. A storm chaser and photographer captured a supercell (the least common type of thunderstorm with severe weather). So AI that it’s real. Stranger Things feelz.