☕️ Handwritten note found on murdered schoolgirl

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

The Malaysian Agricultural Research and Development Institute (Mardi) is looking to reduce Malaysia’s dependence on imported red onions by up to 30% by 2030. This comes as an effort to strengthen national food security, according to Mardi director general Mohamad Zabawi Abdul Ghani. Malaysia currently imports nearly 100% of its red onion needs, valued at over RM2.6 bil a year. The plan is to implement a structured local seed production programme. The Director-General shared that the pilot cultivation project in Bachok has shown positive results. The state’s first entrepreneur started with 20kg of seeds in 2023 and now yields up to five metric tonnes per season.

Local automaker Proton sold 13,395 vehicles in Sept, bringing its year-to-date sales to 114,297 units. The numbers cover both domestic and export sales and gives Proton a 19.9% market share. This comes as Proton is gunning for a stake of more than 20% of automotive sales in 2025 in the face of increasingly stiff competition. The plan now is to ride the momentum of Q3 through the end of the year to meet the automaker’s volume target and to serve as a springboard for 2026. EV sales are also expected to go up in export markets as well, as Singapore became the third country to receive the Proton e.MAS 7 in Sept, with Mauritius due to join the list of countries in Oct.

The adoption of stablecoins could generate an additional USD1.4 tril (RM5.9 tril) in demand for US dollars by 2027 if enough overseas investors want to own these digital assets. According to analysts at JP Morgan, the potential increase in demand highlights the importance of the growing stablecoin market in traditional finance. The analysts also believe that the growth in stablecoin adoption could reinforce the dollar’s role in global finance, rather than speed up de-dollarisation. The stablecoin market, currently worth about USD260 bil, could grow to as much as USD2 tril. Note that about 99% of stablecoins are pegged 1:1 to the dollar, which means that if foreign households or companies convert holdings of their local currency into stablecoins, it would represent new US dollar demand.

3. IN MALAYSIA 🇲🇾

Bandar Utama School Killing Updates
Handwritten note found on murdered schoolgirl
Selangor police chief Shazeli Kahar confirmed that a handwritten note was found on the body of the deceased 16-year-old schoolgirl who was stabbed by a 14-year-old student earlier this week. The note was believed to be left by the teenage suspect, including messages such as, ‘The world is fake. I have won.’ View the letter here.

Kerambit and two knives seized were purchased online
Shazeli Kahar also confirmed the sharp weapons that were confiscated from the 14-year-old suspect were purchased online. The weapons - a kerambit and two knives - were believed to have been purchased for a while already, meaning that the suspect might have been mulling over the morbid idea for quite some time. The police have reiterated that, based on the initial investigation, the suspect has no records of bullying, and social media and emotional triggers have been identified as possible factors behind the suspect’s actions. The case is being investigated under Section 302 of the Penal Code for murder. Picture of a kerambit here.

Calls to install CCTV at schools
Muar MP Syed Saddiq has called for Putrajaya to allocate funds for installing CCTVs at schools, following recent cases of bullying, rape and even murder involving students. Syed Saddiq added that if no proactive measures are being taken, the trust deficit towards public schools among parents would continue to worsen. The former Youth Minister also said that it was time to ‘bankrupt the bully support system’ by making wardens, principals, and enforcement officers accountable when such incidents occur.

Upon checking, Putrajaya has already put aside RM3 mil to install CCTVs, but only in 200 boarding schools under the Ministry of Education (MOE) nationwide, as a start. The project commenced in Aug and will be completed by Nov 2026. This installation targets high-risk boarding schools, including those with a history of bullying incidents, where each boarding school will be equipped with at least 8 - 10 CCTVs.

Among the rape, stabbing and bullying cases, another incident was uncovered as a 22-year-old female security guard named Nor Aleeya Suhadah and her 25-year-old boyfriend, Muahmad Mohtar, have been charged in the Seremban sessions court for sexually assaulting a nine-year-old girl at a school in Rembau. The atrocious act was conducted in the female toilet of the school. Is Malaysia okay?

War on fat lorries
Transport Minister Anthony Loke announced that Putrajaya is looking to amend the law to hold consignors and consignees (sender and receiver of goods, respectively) accountable for forcing lorry operators to carry loads beyond the permitted limit. Loke stated that Putrajaya wants the accountability on road safety to be spread across the logistics supply chain, and not just the driver or the transport company. Additionally, his ministry will also launch a large-scale operation against heavy vehicles that exceed weight limits. Overloading not only increases the risk of accidents but also causes extensive road damage, leading to higher maintenance costs for the government. Previously, according to Deputy Works Minister Ahmad Maslan, typically the Government will need at least RM4 bil per annum, to ensure that roads are maintained properly. In 2024 alone, over 55,800 potholes were reported nationwide.

Whilst we are on road safety, former 5-time Malaysian Rally Champion Uncle YS Khong advises why not to drive in front of a large vehicle in hilly areas:

yskhongdriving

165K followers

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Malaysians with Singapore licenses to enjoy Budi95
Transport Minister Anthony Loke announced that starting Thursday, Malaysians employed across the causeway who possess Singapore-issued driving licences can begin registering for the Budi95 fuel subsidy programme through a dedicated website. Loke said the arrangement was to accommodate Malaysians working in Singapore, particularly those in the transport and service sectors such as bus drivers, support service drivers and operations staff. Current rules only allow Malaysians to hold either Malaysian or Singaporean licenses, but not both. Malaysians employed as drivers in Singapore usually hold Singaporean licenses though they may reside in Malaysia. JPJ has set up a dedicated website: budi95lesensg.jpj.gov.my/ — to assist the Finance Ministry (MOF) in evaluating and processing subsidy applications from this group.

Business news
IPO Round #3: Mr DIY to go public again, but now in Thailand
Mr DIY’s Thailand arm, MR DIY Holding (Thailand) PCL, intends to go for the initial public offering (IPO) route, to raise up to RM470 mil. The funds will be utilised for its expansion and operations. Currently, it has more than 1,000 stores in Thailand. The Thai company is, at the moment, operating separately from the publicly listed MR DIY Group (M) Bhd and only shares the same major shareholder. The move by the Thai company follows the steps taken by another company owned by the founders of Mr DIY, Malaysian brothers Tan Yu Yeh and Yu Wei, where they listed their Indonesian business PT Daya Intiguna Yasa Tbk, which is also neither a subsidiary nor an associate of the listed entity in Malaysia. Across the entire group, MR DIY operates more than 5,000 stores.
The Indonesian entity is valued at RM6.88 bil and the Malaysian entity at RM16.4 bil.

CAB Cakaran Corp Bhd to scratch further 
Poultry and retail chain player CAB Cakaran Corp Bhd plans to sink in at least RM100 mil over the next five years to increase the number of its retail outlets in Malaysia from 25 to 100. The group, which operates retail stores under Pasaraya Jaya Gading Sdn Bhd and Home Mart Fresh & Frozen Sdn Bhd, also eyes to grow its Kyros Kebab fast food chain following a rebranding exercise initiated last year. As part of the expansion plan, CAB also mooted to acquire Cargill Feed Sdn Bhd’s Malaysian feedmill operations and assets in Malaysia for RM231 mil, in the company’s bid to integrate its whole supply chain.

RT Pastry to go public
Bakery products manufacturer, RT Pastry Holdings Bhd, is looking to raise funds on the ACE Market of Bursa Malaysia to open new outlets, purchase new machinery and equipment, repay bank loans and listing expenses. The company also intends to expand its OEM services by manufacturing bakery products based on recipes provided by clients, such as cafes and food retailers. Prospectus here.

4. AROUND THE WORLD 🌎

Gaza: Aid issues and the cost of rebuilding
Aid trucks enter Gaza, Rafah crossing to open
Despite a dispute over the speed at which Hamas was returning the bodies of hostages, aid trucks have begun rolling into Gaza, and Israel has resumed preparations to open the main Rafah crossing to Gazan citizens. Israel had previously threatened to keep Rafah shut and reduce aid supplies, but Hamas returned more Israeli bodies overnight. As such, 600 aid trucks, the full daily complement, will be allowed into Gaza, and preparations to open Rafah continued, though Palestinians awaiting medical evacuation have not received notification to prepare for travel. The aid delivery has been called disgraceful by Israel’s far-right National Security Minister, Itamar Ben-Gvir.

Nations worldwide ready to contribute to rebuilding fund, says UN
An official at the UN Development Programme claimed that European and Arab nations, alongside Canada and the US, appear to be willing to contribute to the estimated USD70 bil (RM296.2 bil) needed to rebuild Gaza. The official also said that the two-year war there had produced rubble equal to 13 times the Pyramids of Giza, at least 55 mil tonnes. The official said the UNDP had already cleared some 81,000 tonnes of rubble and warned that it could take decades for Gaza to fully recover. Seeing a Trump Resort would not be a surprise.

Data deals and tech advancements
BlackRock, Nvidia-backed group ink USD40 bil data centre deal
The investor group called the Artificial Intelligence Infrastructure Partnership (AIP), which features BlackRock and Nvidia among its members, inked a USD40 bil (RM169.3 bil) deal to buy Aligned Data Centers from Macquarie Asset Management. This is a sign of an intensifying race to expand the costly, supply-constrained infrastructure required to develop AI technology. This deal is also the latest in a number of similar agreements focused on securing computer capacity. AIP has an initial target of deploying USD30 bil of equity capital, with the potential of reaching USD100 bil, including debt. This deal marks the group’s first investment and is expected to close in the first half of 2026.

Interesting safety tech - fighting fires with soundwaves
The technology to put out fires with sound waves was actually first shown a decade ago, but it remained a proof of concept until now, though not for a lack of trying, as dozens of researchers have been investigating the idea for over a decade. Startup Sonic Fire Tech (visit site here) claims to have solved the issues plaguing the idea and has built an acoustic fire suppression system that uses soundwaves below the human audible range to not only put out fires, but also protect homes and other buildings from wildfires. The startup raised USD3.5 mil (RM14.8 mil) in a seed round, and its solution comes at a time when wildfires cost the US as much as USD424 bil a year.

Check out a demo here:

OpenAI to introduce age verification with plans for adult content
OpenAI CEO Sam Altman plans to allow a wider range of content on ChatGPT, including erotica, as part of its push to “treat adult users like adults”. The move is expected to help the firm pull in more paying subscribers, as it follows Elon Musk’s xAI’s recent introduction of two sexually explicit chatbots to Grok. However, it is also expected to up the pressure on lawmakers to introduce tighter restrictions on chatbot companions. ChatGPT was previously made restrictive to ensure it was being careful with mental health issues. However, OpenAI believes it has been able to mitigate serious mental health issues with new tools. The AI firm will be rolling out age verification more fully in Dec. All of these changes come after OpenAI was sued earlier this year by the parents of a US teen who took his own life.

This meme too funny not to share. More info on Bonnie Blue here (warning: graphic).

Shorts:

1. Netflix, Spotify ink semi-exclusive deal for podcast streams 
   This marks Netflix’s first major foray into video podcasts, with the platform set to feature some of Spotify’s top shows under a multi-year licensing partnership. Video versions of Spotify-owned The Ringer and Spotify Studios podcasts, including The Bill Simmons Podcast, The Rewatchables, and Conspiracy Theories, will stream simultaneously on both platforms starting in early 2026 in the US. The deal also requires the video versions of the shows to be removed from YouTube. The deal is expected to expand to other markets and shows as well.

2. Madagascar military claims it has seized power after president flees 
   An elite military unit claimed it has seized power after the departure of President Andry Rajoelina, following weeks of youth-led protests. The Personnel Administration and Technical and Administrative Services Corps (CAPSAT) is the most powerful military unit in Madagascar. The unit chief declared that the military would form a government and hold elections within two years, but key democratic institutions, such as the electoral commission, have been suspended. Still, the military will be including the Gen Z protesters as part of the changes. According to the CAPSAT chief, the movement was created in the streets, so the military has to respect the wishes of the protesters.
   Where is Madagascar on the map? Here. And its capital? Antananarivo. 

3. The Dead Internet Theory
   Reddit co-founder Alexis Ohanian expressed his frustration when he was on the TBPN talk show. He claimed that the internet, which was once a point of connectivity, has become inhuman. He also mentioned the dead internet theory, which claims that there is more bot activity than human activity on the internet. OpenAI CEO Sam Altman also referenced this recently, saying he had never taken the theory that seriously until he saw that there are a lot of X accounts being run by Large Language Models.

5. FOR YOUR EYES 📺

1. EPF vs Singapore’s Central Provident Fund (CPF). CPF has become the first in Asia-Pacific to earn an A-rating in an annual global ranking of pension systems.

2. Interesting take on investing vs trading.

2. An actress portraying life living with depression.