☕️ High-tech hotpot: Chicken restaurant gets USD50 mil data center contract

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Let’s start Friday with a little film festival

More than USD3 bil (RM12.23 bil) – That’s how much the five movies of the Toy Story franchise have brought in for animation studio Pixar, making it one of the firm’s most lucrative franchises since the first film was released in 1995. The fifth film, Toy Story 5, also recorded the franchise's biggest opening weekend by raking in more than USD300 mil globally. With an estimated production budget of USD250 mil, the film needs to make at least twice that amount to cover the additional costs of marketing and other expenses.

More than CNY1.7 bil (RM1.02 bil) – Chinese film Dear You has entered the ranks of China’s highest-grossing films of 2026, topping the China box office for more than five consecutive weeks since its release on Apr 30 and bringing in that amount. The film was produced on a modest budget of CNY14 mil (a ~121x ROI!) and featured a predominantly non-professional cast. The lead actor even admitted that most of the lines in the movie, which was almost entirely in Teochew, were improvised, with the cast not following the script most of the time. The film’s director believes Dear You did well due to modern audiences being able to appreciate the time and effort that older generations had to put into communicating with one another.

More than RM30.6 mil – South Korea’s zombie horror-thriller Colony surpassed this milestone at the Malaysian box office, making it the country’s highest-grossing film of 2026. The film, directed by Yeon Sang-ho, overtook Train to Busan to become the highest-grossing South Korean film ever released in Malaysia. Train to Busan, also directed by Yeon, held the previous record of RM21 mil. Malaysia was also the first Southeast Asian country to screen the film simultaneously with South Korea, where it has also been a major hit. Colony topped the South Korean box office with over 5 mil admissions.

3. IN MALAYSIA 🇲🇾

High-tech hotpot
A Penang chicken hotpot restaurant operator has made an unexpected move into Malaysia’s booming technology sector after securing a USD50 mil (RM203.85 mil) deal to provide maintenance and support services for data centres. Nasdaq-listed CCH Holdings Ltd (CCHH), best known for operating Chicken Claypot House and other restaurant franchises, said its wholly-owned subsidiary had signed a three-year sales and service agreement with several undisclosed clients. The deal marks the group’s entry into technology infrastructure as it looks to diversify beyond its F&B business.

Under the agreement, CCHH will provide data centre support services, including compute capacity allocation, deployment coordination, technical consultation and operational advisory services. The company said the partnership could expand into other markets as its clients increase their international capacity. Ambitious.

So how would F&B and DC complement one another? The heat from DC would be captured and recycled as an energy source to heat their hotpots and reducing the use of water at DC, therefore saving on energy cost and scoring higher ESG rating. Just kidding. We also don’t know.

Perlis MB steps down from party post
Perlis MB Abu Bakar Hamzah has resigned from Bersatu’s Supreme Leadership Council (MPT) to focus on managing the state government. Abu Bakar said the decision was due to time constraints and his need to concentrate on Perlis’ development, with about a year left in the current state administration’s term. Sena assemblyman and state executive councillor Marzita Mansor also stepped down from the party’s top leadership body last week.

Abu Bakar stressed that his resignation from the party council was unrelated to his position as MB and would not affect his role in leading the state. He will remain a Bersatu member, Perlis party chairman and Kangar division chief while continuing to work with the party leadership. He also denied that the move was linked to political pressure or plans to join another party, saying his focus was to reorganise Bersatu’s divisions in Perlis and strengthen the state administration. No matter how he puts it, optics say otherwise.

Corruption watch:
The Elephant Graft - No money trail found: The MACC has found no suspicious fund transfers or financial transactions linked to former Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad over a RM53 mil bribery allegation involving the transfer of three elephants to Japan. MACC chief commissioner Abd Halim Aman said initial checks found no suspicious activity involving Nik Nazmi or companies linked to him, although investigations are still ongoing with four other suspects, including two company owners and two civil servants.

The probe, known as Op DAK, was launched over alleged bribery and abuse of power between 2021 and 2022 involving the transfer of elephants Dara, Amoi and Kelat from Zoo Taiping to Tennoji Zoo in Japan. MACC said the transfer cost of USD1.048 mil (RM6.3 mil) was fully covered by Tennoji Zoo and did not involve Malaysian government funds. Investigators are continuing their financial analysis before deciding on the next course of action.

Jana Wibawa trial continues: Meanwhile, the High Court heard that Nepturis Sdn Bhd, which secured a RM141 mil Jana Wibawa contract for the North Klang district police headquarters, was allegedly controlled behind the scenes by businessman Lian Tian Chuan despite being a Bumiputera-status company. Nepturis director and prosecution witness Aliza Abd Malek testified that while she and fellow director Mohd Rizman Akum Khan were listed as equal shareholders, the company’s funding and operations were allegedly guided by Lian.

The court was told that Lian had instructed the preparation of project applications using multiple companies before Nepturis received the contract in Dec 2021. Aliza also testified that Lian played a key role in securing projects and managing company operations, and that Nepturis later allegedly contributed RM1 mil to Bersatu. The testimony was heard during former prime minister Muhyiddin Yassin’s ongoing graft trial, where he faces charges involving alleged abuse of power and money laundering.

Flag fuss goes viral
A Chinese tourist visiting Kuala Lumpur sparked an online debate after confronting hotel staff over the absence of China’s national flag in the breakfast dining area. In a video that quickly spread across social media, the tourist questioned a hotel employee after noticing several flags displayed from the ceiling but not the five-starred red flag of China. He argued that businesses hoping to attract Chinese customers should display the country’s national symbol.

The incident gained more attention after social media users pointed out that the hotel’s flag display was not a collection of international flags, but part of a 2026 FIFA World Cup theme featuring only the 48 participating nations. Since China’s men’s football team failed to qualify for the tournament, its flag was not included. Users also highlighted that Malaysia’s Jalur Gemilang was missing from the display for the same reason. The incident drew mixed reactions online, with some criticising the tourist’s approach while others viewed it as a misunderstanding driven by national pride. China's men's national football team, currently ranked 91st in the FIFA rankings, has only appeared in one World Cup final in 2002 (watch incident here).

4. AROUND THE WORLD 🌎

Trump vs Iran: “Scum”, “sick people”
US President Donald Trump declared the June 17 MoU "over" on Wednesday, calling Iran's leadership "scum" and "sick people". Meanwhile, US Central Command struck 90 Iranian military targets along the coastline, including air defence systems and logistics infrastructure, in what it calls an effort to "degrade Iran's ability to attack commercial shipping." 14 Iranians are reportedly killed.

Iran responded with retaliatory strikes on US military bases in Kuwait and Bahrain overnight. Explosions were reported in Bahrain’s capital Manama, while Kuwait intercepted missiles and drones, and Qatar issued a security alert. Iranian Parliament Speaker Mohammad Bagher Ghalibaf put it plainly on X: "If you strike, you'll get hit." He added that the Strait of Hormuz will only operate under Iranian arrangements, not "American threats."

Shipping through the Strait has collapsed. Phil Belcher of Intertanko told BBC Radio 4 that daily transits via the southern route have dropped to "single figures" from about 70 a week ago and a far cry from 130 before hostilities began.

NATO summit turns into a grievance session
Trump arrived at the NATO summit in Ankara with a list of complaints, and Spain got the worst of it. The US president called Spain a “terrible partner in NATO” and a “wasted cause,” then ordered his Treasury Secretary to “cut off” all trades with the country. Trump criticised Spain over its refusal earlier this year to allow US military operations against Iran from joint bases.

Spanish PM Pedro Sanchez’s office pointed out Spain actually runs a trade deficit with the US and reminded everyone that EU members cannot be singled out individually under EU customs and trade union rules. The European Commission backed this up, with spokesperson Olof Gill stating, “We expect the US to honour its commitments.”

Trump, meanwhile, also revived his obsession with buying Greenland from Denmark, insisting the US “needs it for protection of the world.” Danish PM Mette Frederiksen reiterated the island is “not for sale.”

Putin ghosts Trump's peace plan, prepares to escalate
Trump declared last Monday that Putin wanted the Russia-Ukraine war to end and that a resolution was "closer than people realize." Turns out the Kremlin didn't get that memo. Three sources close to the Russian presidency told Reuters that Putin has "dug in his heels" and is likely to escalate the conflict, now in its fifth year, rather than negotiate. One source described the Russian president rebuking advisers who suggested a ceasefire. Ukraine's recent drone strikes on Russian oil refineries and ports have apparently made Putin angrier.

Apple’s USD30 bil Broadcom bromance
Apple just signed a multiyear chip deal with Broadcom worth more than USD30 bil (RM122.3 bil), a move that ties two Silicon Valley giants together until at least 2031. Under the agreement, Broadcom will design and produce "custom silicon components and cutting-edge wireless connectivity technologies" for Apple products, with more than 15 bil chips built in the US as part of Apple's American Manufacturing Program (AMP). The partnership also includes a USD1.5 bil investment to modernise Broadcom's Fort Collins, Colorado manufacturing facilities.

Why does the AMP matter? The Trump administration has made reshoring chip production a cornerstone of its industrial policy, even taking a 10% stake in Intel, while OpenAI reportedly offered the White House a 5% position. Apple launched its AMP initiative in 2025 alongside partners like Corning, GlobalFoundries, and Texas Instruments.

Vietnam moves up semico value chain with LG's USD1 bil bet
LG Innotek is pouring USD1 bil (RM4.1 bil) into a chip packaging factory in Hai Phong, Vietnam, spanning a site the size of 45 football fields, with operations starting in 2027 and mass production in 2028. The Apple supplier, historically focused on washing machines and TV screens in Vietnam, will now make semiconductor substrates like ball grid arrays and systems-in-package modules. LG's Gumi plant in South Korea will serve as the "mother factory" for R&D while Vietnam handles large-scale production, a model mirroring how Asian tech firms keep high-value work at home and offshore the rest. LG targets KRW3 tril (USD1.98 bil) in substrate sales.

Bezos finally opens Blue Origin to outsiders
Jeff Bezos is done bankrolling his space dreams solo. Blue Origin, his 25-year-old rocket company, is raising about USD10 bil (RM41 bil) in its first-ever outside funding round, valuing the firm at a staggering USD130 bil (RM530 bil). Bezos himself is chipping in USD2 bil, hedge fund Coatue Management is throwing in roughly USD4 bil, and the remaining USD4 bil is reportedly attracting strong investor demand.

Bezos clearly didn’t just wake up and decide to do so. This comes right after Elon Musk’s SpaceX pulled off the largest IPO in history, raising nearly USD86 bil and hitting a USD2 tril valuation that officially made Musk a trillionaire. Bezos, who once predicted Blue Origin would outgrow Amazon, now has to watch his rival lap him while his own New Glenn rocket exploded on a Florida launchpad in May (watch the massive explosion here). The company is scrambling to rebuild the pad and get that rocket flying again by end-2026. The billionaire space race is now officially a spectator sport, and the ticket price just went up.

Typhoon Bavi: storm the size of France heading for Taiwan and China
Typhoon Bavi is churning southeast of Taiwan with winds near 200 kph, spanning roughly 1,000 km at its widest point (about the width of France) and forecast to skirt northern Taiwan before making landfall in China's Fujian province on Saturday evening. Jason Chang, Taiwan's Central Weather Administration forecaster, called storms of this size "fairly rare in recent years," noting Bavi is set to be the largest by size to hit the island since 1987. This comes as China is still reeling from Typhoon Maysak, which killed at least 39 people in Guangxi, with nine still missing. Japan Airlines has cancelled 48 domestic flights affecting 7,610 passengers. "Don't be fooled by the calm weather," said Chen Ming-hui, a fishing boat captain in Suao.

5. FOR YOUR EYES 📺

Rekindle the love this weekend

1. How long have you not been taking your medicine? The safe type, of course.

2. Once and for all, let science settle the debate - does size matter?

3. Female orgasm - men, it’s not all about penetration.

4. As I grow older in life, loving someone involves loving and re-loving them again and again through the different phases of life.

At first I laughed at this. As much as I want to mock it, got to give it to them for repackaging and rebranding the acts of construction work into a sport. This isn’t an isolated example. A lot of times, it’s about repositioning. If you are stuck doing something, or anything, how do you reposition the situation? Some reflection for the weekend. All the best with your all your positions repositioning!