☕️ High Court orders government to pay pastor Koh’s family RM37 mil

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

The Louvre has moved some of its most precious jewels to the Bank of France, with a secret police escort overseeing the transfer. The Bank, which is about 500 metres from the museum, is home to 90% of France’s gold reserves along with other national treasures such as the notebooks of Leonardo Da Vinci. The valuables, worth an estimated EUR600 mil (RM2.9 bil), will be stored in the Souterraine vault, the bank’s most secure vault that is located 26 metres below the ground floor of the Bank.

Russia has successfully tested its Burevestnik cruise missile, a new missile that is both nuclear-powered and nuclear-capable. According to Russia’s top general and chief of general staff of Russia’s armed forces, the missile travelled 14,000km and was in the air for 15 hours when it was tested. Russia also claims the missile has an almost unlimited range and an unpredictable flight path, making it “invincible” to current and future missile defences. For reference, the distance between Canada and Malaysia is about 12,837km.

Aid group Humanity & Inclusion estimated that clearing the surface of Gaza of unexploded ordnance will likely take up to 30 years, with the group calling the enclave a horrific, unmapped minefield. An Explosive Ordnance Disposal expert from the group added that a full clearance of ordnance is never happening due to an unknown quantity being underground. He likened the situation with British cities after World War II, saying that bombs would be found for generations to come.

3. IN MALAYSIA 🇲🇾

High Court orders government to pay pastor Koh’s family RM37 million
The High Court has ruled that the Government and police were responsible for Pastor Raymond Koh’s abduction back in Feb 2017, labelling their actions “oppressive and arbitrary.” The court ordered a daily payment of RM10,000 to his family until he is found, along with RM4 mil in general damages and RM250k in legal costs, bringing the total payout to around RM37 mil. Judge Datuk Su Tiang Joo stressed that the payment should be placed in a trust account and noted the involvement of multiple officers in the incident.

The court also highlights police misuse of power in pastor Koh case in a detailed look at the abduction, the High Court noted the precision and coordination of the operation, carried out in under a minute by masked men in black military outfits. The court found clear evidence of pre-planning and the misuse of state resources, and it directed the police to restart investigations and report to the Attorney-General every two months. The ruling also pointed to the long-term emotional toll on Koh’s family due to delayed updates and withheld information. A bit more background on the case here.

Another missing case - RM3 mil ruling for activist Amri Che Mat
On the other hand, the High Court has told the government and police to fork out just over RM3 mil to the family of activist Amri Che Mat after finding they botched the investigation into his disappearance back in Nov 2016. Judge Su Tiang Joo said the officers had acted “unconstitutionally” and failed in their duties. The decision also includes RM250k in legal costs, and the police have been ordered to reopen the case. Amri’s wife, Norhayati Ariffin, welcomed the ruling but admitted it’s still tough not knowing where he is, whether he’s alive or not, and hopes the people responsible are finally held accountable.

Highway tolling goes digital
TNG’s Tidal Flow MLFF POC (LKSA Highway)
Malaysia’s Tidal Flow MLFF proof-of-concept on the LKSA Highway is showing how barrier-free tolling could work in practice. Each lane is equipped with two RFID antennas and two ANPR cameras, giving a double layer of detection to capture every vehicle accurately. The RFID antennas can track cars at speeds over 200km/h (fastest recorded: 168km/h), while the ANPR cameras can capture even faster vehicles, over 320km/h. LiDAR is used to classify vehicles, ensuring the correct toll is applied. The rollout still hinges on legal and enforcement frameworks to make sure unpaid tolls can be properly collected before removing the traditional boom gates.

Touch ‘n Go’s Titan Flow
Meanwhile, Touch ‘n Go is pushing its own barrier-free solution, Titan Flow, at MyARTTE 2025. This homegrown Multi-Lane Fast Flow system combines RFID, ANPR, and AI-enhanced 3D LiDAR to track vehicles in real time and ensure accurate tolling. Beyond accuracy, Titan Flow is designed with the future in mind, supporting dynamic pricing that could adjust rates based on traffic or vehicle type. With 24 mil verified users and 4 mil RFID motorists already on board, TNG is positioning itself for a nationwide rollout of MLFF, offering a smooth, tech-driven tolling experience for Malaysian drivers.

Johor water woes drag on as pollution hits fishermen hard
Thousands of residents across Johor are still facing dry taps even after 2 out of the 4 water treatment plants along Sg Johor resumed operations, following a pollution incident linked to sandmining since Oct 31. The disruption dragged on for days, hitting over a million consumers in Johor Baru, Kota Tinggi, Kulai and Pontian forcing many to stock up on bottled water as frustration mounted. Locals say the situation has gone beyond inconvenience, urging the state to take firm action against the polluters as fishermen in Kampung Orang Asli Sayong Pinang reported losing about a tonne of fish, leaving around 25 of them without income for days.

Malaysia eyes RM15 carbon tax to curb emissions
Malaysia is weighing a starting rate of RM15 per tonne for its upcoming carbon tax on high-emitting industries, as part of its push to rein in the country’s carbon footprint. The plan, still under discussion, includes setting up a new agency to drive climate initiatives. The bill is expected to be tabled next year, following PM Anwar Ibrahim’s earlier hint that the tax would apply to iron, steel, and energy sectors from 2026. Modelled in part after Singapore’s carbon pricing system which began at SGD 5 (RM16.07) per tonne in 2019 and now stands at SGD 25. Malaysia’s version could bring in around RM1 bil annually, according to BIMB Securities. Under the proposed mechanism, firms exceeding their pollution quotas would either pay the tax, buy credits from Malaysia’s carbon exchange, or purchase unused quotas from other companies.

4. AROUND THE WORLD 🌎

Chip bans, space-based data centres, and a billion-dollar wager
China bans foreign AI chips in state-funded data centres
The guidance from the Chinese government requires new data centre projects that have received any state funds to only use domestically-made AI chips. This comes after Chinese regulatory authorities ordered the removal of installed foreign chips and the cancellation of plans to buy foreign chips from such data centres that were less than 30% complete. Projects in a more advanced stage will be reviewed on a case-by-case basis. This marks one of China’s most aggressive moves to eliminate foreign technology from its critical infrastructure as it pursues AI chip self-sufficiency. This move also marks the end of Nvidia’s hopes of regaining Chinese market share, especially after US President Trump’s statement about allowing Beijing to deal with Nvidia, but not in terms of the most advanced chips.

Google tests new project to put solar-powered data centres in space
The tech giant is looking into deploying satellites equipped with Google’s custom Tensor Processing Units, which already power many of Google’s AI models. According to CEO Sundar Pichai, Project Suncatcher will explore building scalable machine learning compute systems in space that harness the sun’s power. He added that the sun emits more power than 100 trillion times humanity’s total electricity production. Google plans to launch two prototype satellites in early 2027. The final product envisioned fleets of solar-powered satellites connected by optical links to exchange data, which means heat buildup management and reliability are going to be challenging. However, Google’s analysis predicts that, by the mid-2030s, it could be cheaper to send a data centre to space instead of building one on Earth. Food for thought.

"Big Short" trader makes USD1.1 bil bet against Nvidia, Palantir
Michael Burry, a US investor who was depicted in the film “The Big Short”, has wagered USD1.1 bil (RM4.6 bil) on falls in shares of chipmaker Nvidia and software company Palantir. Burry previously bet on a US housing market crash in the run-up to the 2007 global financial crisis and believes the AI bubble is going to pop soon. His investment firm, Scion Asset Management, bought put contracts covering USD912 mil of shares in Palantir and USD17 mil of shares in Nvidia. If the share prices of the two firms fall below the prices listed in the contracts, Scion can sell the shares for that higher price to turn a profit from the shares falling. An interesting read here on how billionaire and Shark Tank star Mark Cuban protected his USD1.4 bil from the sale of his company using some put option strategy, Broadcast.com, to Yahoo! for USD5.7 bil at the peak of the dotcom bubble.
Learn: What is a put option contract?

Chinese court sentences five members of Myanmar scam mafia to death
Five top members of the infamous Myanmar Bai family were sentenced to death by a Chinese court. In all, 21 Bai family members and associates were convicted of fraud, homicide, injury, and other crimes, as Beijing continues its crackdown on scam operations in Southeast Asia. The Bai family is among a handful of mafias that rose to power in the 2000s and transformed the backwater town of Laukkaing into a lucrative hub of casinos and red-light districts. They controlled their own militia and established 41 compounds to house their cyberscam activities and casinos, which involved over CNY29 bil (RM17.1 bil). Among the five sentenced to death were family patriarch Bai Suocheng and his son Bai Yingcang. Two other members were handed suspended death sentences, with five more sentenced to life imprisonment.

Football
Sports violence trial, biggest of its kind, begins with Olympiacos FC chairman
The trial saw 142 football fans facing charges of running a crime organisation and causing life-threatening explosions at sporting events, which they have denied. The chairman of Greece’s Olympiacos football club, Evangelos Marinakis, along with four other board members are accused of supporting the fan criminal group between 2019 to 2024 and instigating violence with statements against authorities. Authorities have vowed to crack down on sports-related violence, and this marks the largest trial of its kind, with over 210 people to testify before the three-member bench. Lawyers believe the trial could last over a year. Marinakis also owns English Premier League club Nottingham Forest.

Cristiano Ronaldo to retire soon for family reasons
The Al Nassr striker, who is the all-time leading goalscorer with 952 goals for club and country combined, said he will retire soon, having been planning his post-football life for some time. He did admit that it would be difficult to bring his career to an end, but he looks forward to having more time for himself and his family.

Shorts:

1. At least 7 dead after UPS cargo plane crashes on takeoff 
   The wide-body cargo plane crashed and erupted into a fireball moments after takeoff from the international airport in Louisville, Kentucky, with seven dead and 11 injured. Flames from the crash also ignited a string of fires in an industrial corridor next to the airport, forcing the shutdown of flight operations. The plane had a crew of three, none of whom survived. State Governor Andy Beshear expects the death toll to go up, as some of the survivors suffered significant injuries. UPS Flight 2976 was a 34-year-old plane, and the key question for investigators will be why one engine appeared to separate from the plane before the crash. Watch the incident here.

2. Zohran Mamdani first Muslim and South Asian elected to lead New York City 
   Mamdani, 34, beat Andrew Cuomo with at least a 9% lead. However, as much as voters are calling the win progressive, it is clear that he won because of his laser-focused message of affordability. Cuomo called the election a civil war in the Democratic Party that has been brewing for a while, pointing towards the extreme radical left, run by socialists like Mamdani, compared to the wealthy donor-dominated establishment of the past, which Cuomo comes from.

3. Apple prepares to enter low-cost laptop market 
   The tech giant is developing a budget Mac to lure customers from Chromebooks and entry-level Windows PCs. Code-named the J700, the machine is in active testing at Apple and in early production with overseas suppliers. The device, designed for students, businesses, and casual users, targets people who primarily browse the web, work on documents, or conduct light media editing. Apple plans to sell J700 for well under USD1,000 (RM4,191.50) by using less advanced components. It will rely on an iPhone processor and a lower-end LCD display that will be the smallest of any current Mac.

5. FOR YOUR EYES 📺

1. Concept design: What if ZUS Coffee x Ralph Lauren? By daruma.my - check out the IG page to see other concepts (i.e. Tealive x Louis Vuitton).

2. Adaptability.