☕️ Hot Question: I am on annual leave, then I fell sick. Can I cancel my annual leave and convert it to MC? Aunty HR answers.

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

India has long faced a “brain drain,” with over 60% of the top 100 performers from its famed Indian Institutes of Technology (IITs) migrating abroad, primarily to America. Nearly a third of international students in the US now hail from India. However, with estimates suggesting that President Donald Trump’s policies could cause a quarter-plummet in Indian student applications to American universities this year, India has a unique opportunity to reverse this trend. Despite having half the world's university-age population, fierce admission rates at prestigious institutions (sometimes as low as 0.2% compared to 3-9% for Ivy League schools), and widespread English proficiency, India's top colleges currently lag on the global stage. India has no universities in the top 100 of international league tables.

DBS Group Holdings Ltd. has made history as the first bank in Singapore to reach a market value exceeding USD100 bil. Southeast Asia's largest lender achieved this milestone on June 9, with its shares gaining as much as 0.8% in Singapore trading to hit SGD45.50. The firm's market capitalisation was at SGD129 bil (USD100.2 bil), extending its year-to-date gains to 4.3%. This significant advance in US-dollar terms was notably amplified by a weaker greenback, as the Singapore dollar has appreciated approximately 6% against the US dollar this year. This comes as Singaporean lenders, including DBS, have benefited from record-high earnings last year and pledged to return billions in surplus capital to investors, with DBS notably boosted by increases in lending and wealth fees. For comparison, Bank Harimau’s market cap stands at USD27.9 bil.

The average price of an Australian home has surpassed AUD1 mil for the first time, marking a grim milestone as the nation grapples with a severe housing affordability crisis. Figures released by the Australian Bureau of Statistics (ABS) this week estimate the average home value reached AUD1,002,500 in the March quarter, representing a 0.7% increase from the previous quarter. Australia is now home to some of the world's least affordable cities, making homeownership and even renting increasingly out of reach for many. Experts attribute this escalating crisis to a critical shortage of homes, a burgeoning population, existing tax incentives that favour property investors, and insufficient investment in social housing initiatives.

3. IN MALAYSIA 🇲🇾

First Malaysian Chinese Army Officer to become 3-Star General
Mejar Jeneral Datuk Johnny Lim Eng Seng was promoted to the rank of Leftenan Jeneral, making him the first Malaysian of Chinese ethnic origin to ascend to the second-highest rank within the Malaysian Armed Forces. Lieutenant General Fatuk Johnny Lim’s 41-year-long military career saw him joining the 25th intake of the Regular Commissioning Course, undergoing officer training at the UK’s prestigious Royal Military Academy Sandhurst, before being commissioned into Malaysia’s Royal Ranger Regiment.

This historic promotion could not have come at a more opportune moment as the country’s Defence Ministry had once mentioned the number of non-Bumiputera armed forces personnel to be at a lowly 3% meriting special attention. Even more recently, the Defence Minister had expressed hope that the reintroduction of the national service (or PLKN 3.0) would encourage more Malaysians of Chinese and Indian origin to join the army.

Government wins long-time Duta land dispute..for now
Just recently, the Court of Appeal (CoA) ruled in favour of the federal government’s right to retain the massive “Duta enclave” that was allegedly unlawfully purchased in 1956 for a sum of RM1.325 mil. The purchased land had now become a ‘township’ with various government buildings worth billions of ringgit (such as the Shahriah Court Complex, Federal Territory Mosque, National Archives, etc.), along with some pockets of land yet to be developed. After a 2009 and 2012 court hearing that ruled the federal government’s actions as trespassing on the land, the Semantan Estate stepped up its efforts to regain the land...only to fall short due to the panel of judges’ unanimous ruling.

Despite that, Federal Court judge Datuk Lee Swee Seng had ordered the government to compensate the Semantan Estate, minus the RM1.325 mil fee paid in 1956 but retain ownership of the land and buildings. However, Semantan Estate has plans to appeal the CoA’s ruling, with the case likely to continue at the Federal Court. For a better understanding of this case, browse through the timeline here.

Sabah student protest rally sees PMX's caricature burned
In Kota Kinabalu, Sabah, a student rally, organised by a group calling themselves “Suara Mahasiswa UMS” (Voices of UMS Students), took an extreme turn when some of them proceeded to burn a caricature of PM Anwar Ibrahim. The students who were purportedly from University Malaya Sabah and were organising an anti-corruption rally, demanding action on corrupt officials and better governance, including a solution to the long-time water shortage at the university. According to the police, investigations are now being conducted, with potential charges under the Penal Code and Sedition Act 1948.

Meanwhile, the PM took a conciliatory stance, asking for the Higher Education Ministry not to take action against the university students, believing that “dissent is crucial in a democratic country and freedom of speech must be upheld” Perhaps PMX’s soft approach is also tied to a need to improve upon his 55% approval rating as reported by the Merdeka Centre’s mid-term survey? Moreover, the next General Election is just a little over 2 years away. Go figure.

Shorts

1. COVID-19 cases in Selangor up by 36%

   Hello again from COVID-19. The number of COVID-19 cases in Selangor rose by 36% to 1,082 cases as of June 14, 202,5, compared to 782 cases the previous week. Overall, Selangor has recorded 7,582 COVID-19 cases since late Dec 2024. If you have COVID-19 symptoms, don’t take any chances and get tested immediately! Malaysia reported its first COVID-19 fatality in 2025 just last week.

2. JB-based goods trader loses over RM1 mil in fake job offer scam

   Despite so many reported cases, many still couldn’t grasp the concept of too good to be true. A fake part-time job offer advertisement on social media has made a trader poorer by more than RM1 mil. Promised a 25% commission for purchasing and reselling certain goods, the victim then made 22 bank transfers amounting to more than RM1.15 mil between March 28 and June 13. The result? No surprise. The victim realised he had been duped when he did not receive his commission. This case is a timely reminder to be extra vigilant, as police reported that Malaysians have lost RM11.23 bil to various scams over the past 5 years! In another too-good-to-be-true scenario and potentially record-breaking speed of return, a retired factory worker lost RM733,300 to an investment scam after being promised between 10% to 15% within 20 minutes.

3. IGB REIT spends RM2.65bil to acquire Mid Valley Southkey Mall

   IGB Real Estate Investment Trust, best known for owning Mid Valley Megamall and The Gardens Mall, and boasting a market capitalisation of RM8.26 bil, is set to add an attractive asset to its property mix. IGB REIT is set to make its foray into Johor by buying over the five-storey Mid Valley Southkey Mall, which enjoys an occupancy rate of 94.98% with anchor tenants such as SOGO, Village Grocer, Golden Screen Cinemas and Mid Valley Exhibition Centre Exhibition Hall, along with over 5,000 parking bays. Here’s a guide to understanding REITs by Mr Money TV.

4. AROUND THE WORLD 🌎

Where's the "cease" in cease-fire?

Tehran rocked by blasts despite Trump's orders for Israel to stop
The Iranian capital was rocked by explosions in what Israel calls a retaliation against an Iranian cease-fire violation, hours after US President Trump said Israel had called off strikes at his command. This comes after Trump announced that Iran and Israel have agreed to a “complete and total” cease-fire, with Trump congratulating both countries on having the “Stamina, Courage, and Intelligence” to end the war. Neither Israel nor Iran confirmed the agreement.

According to a White House official, the cease-fire was brokered with Trump personally talking to Israeli PM Netanyahu, while his team, which included Vice President Vance, held talks with Iran. The official revealed that Israel agreed to a cease-fire so long as Iran does not launch fresh attacks, with Iran signalling no further attacks would take place. Israel later said it had achieved its goal of removing Tehran’s nuclear and ballistic missile threat with the help of the US, leading to its agreement with a cease-fire.

Trump: Both sides violated the ceasefire
Trump was not amused, as he believes both sides violated cease-fire terms with attacks after the deadline to cease hostilities. Israel accused Iran of launching missiles into its airspace after the deadline and retaliated with a strike on a radar installation near Tehran. Iran denied that its military fired on Israel. However, missiles were fired instead at a US military base in Qatar. No casualties were reported, but Qatar reports that the Iranian attack had left a "scar" on the country's relationship with Tehran. The attack was also reported to have happened hours before the cease-fire was announced, in retaliation for US participation in the air strikes on Iran’s nuclear sites.

Trump has sharply rebuked Israel for its military response after the cease-fire after accusing both Israel and Iran of breaking the cease-fire. He slammed Israel for how it “unloaded right after we made the deal”, saying they did not have to, and that the response was an unwanted one. Iran denied launching any missiles after the ceasefire and instead reported that Israeli strikes continued for over 90 minutes after the cease-fire deadline. Trump told reporters he was “not happy with Israel”, which has “refrained from further attacks” after Trump spoke to Netanyahu.

Trump believes the two countries “do not know what the f*$# they are doing”.

And yet, he was the one who was first pushed toward war by Israel, according to this interesting read.

Cow tech and AI copyright

Cow tech startup New Zealand's latest unicorn
Agritech startup Halter raised USD100 mil at a USD1 bil valuation, marking it as New Zealand’s latest unicorn (a unicorn cow?). The Series D funding round was led by tech investment firm Bond. Halter, which supplies smart collars, connectivity towers, and a mobile app that lets ranchers virtually fence, move, and monitor their cattle using sound and vibration cues, will be using the funds to expand in the US, where it is already working with about 150 ranchers. The startup promises that its solution provides better grazing efficiency with a lower environmental impact.

Anthropic wins key ruling on AI in copyright lawsuit
A loss for authors everywhere, as Anthropic’s use of books without permission to train its AI was ruled legal under US copyright law, as the judge determined the firm made “fair use” of the books. “Fair use” here means copyrighted works can be used without the owner’s permission in some circumstances. This followed a class action lawsuit brought by authors, news outlets, and other copyright owners. This lends precedence to the ongoing debate, with fair use a key legal defence for tech companies.
Learn: What is Fair Use?

Medical Matters

England to offer at-home cervical screening tests
The DIY test kits will contain a long cotton-wool bud to swab the lining of the vagina, with the sample then sent back for testing. This initiative aims to make screening for human papillomavirus (HPV) more convenient, and to increase up number closer to the target of 80% of women screened, compared to the current 68.8%. A recent trial indicated that the rollout of home test kits – sent out in discreet packaging and with the return postage prepaid – should increase the proportion of women screened to 77% within three years. The test will only check for HPV, but if detected, the women will be invited to see a doctor to check for cancer.

NZ herpes ad wins Cannes Lions award
The New Zealand Herpes Foundation secured the Grand Prix for Good award at the 2025 Cannes Lions Awards for its campaign to make New Zealand “the best place to have herpes”. The campaign aimed to destigmatise the sexually transmitted disease (STD), and starred several local celebrities. For perspective, one in three sexually active adults in New Zealand has the virus, though most have mild or no symptoms and can lead ordinary lives. Episode 1 here, and check out the website here for the rest.

145 pricked in syringe attacks at street music fest
French police detained 12 people after 145 people reported being pricked with syringes during a nationwide street music festival, and authorities report it remains unclear whether the cases of “needle spiking” involved date-rape drugs. Toxicology tests are being done. Reportedly, feminist influencers had warned that there were calls made on social media for women to be targeted with syringes.

5. FOR YOUR EYES 📺

Content hari ini, semua Buatan Malaysia

1. JPA scholarships for studies abroad are now open for application.

2. Hot Question: I am on annual leave, and then I fell sick. Can I cancel my annual leave and convert it to MC? Aunty HR answers.

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3. “Dua agama, dua manusia tapi satu perasaan”. A short love story. The ending…..oh wow…You had onion coffee? Starring Shaffuan and Ms QiWiie