☕️ Influencer Mekyun exposes disturbing Facebook group targeting children

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

The Kuala Lumpur Road Transport Department (JPJ) has successfully collected RM237,000 from its first public auction of the year, involving 124 seized vehicles. According to director Hamidi Adam, the auction included 108 roadworthy vehicles, 16 designated as unroadworthy scrap, and six identified as cloned vehicles. While this type of auction is held twice annually, Hamidi noted the response was encouraging despite only 85 bidders participating, which was slightly below their target of 100.

Worldwide, marriages between relatives, particularly cousins, were estimated at around 10% in the early 2010s, though recent data highlights significant global variations. While rates can exceed 50% in countries like Pakistan, they fall to 1-4% in Brazil and less than 1% in the US and Russia. Experts confirm that most children born to cousin couples are healthy. However, these marriages do carry an increased risk of passing down harmful genetic mutations. Geneticist Luzivan Costa Reis notes that for unrelated couples, the chance of a child having a rare genetic disorder is about 2-3%, but for cousins, this risk rises to 5-6% per pregnancy. A 2010 study in Serrinha, for example, found over 30% of couples were related, and a third of them had at least one child with a disability, underscoring the elevated genetic risk.

Nearly half of Japan's full-time workforce, specifically 45%, now identify as "quiet quitters," according to a new survey by Japanese job-matching firm Mynavi. This trend signifies a notable departure from the country's entrenched culture of overwork, as employees increasingly choose to do just enough to meet job requirements without actively seeking promotions or recognition. The survey, which polled 3,000 workers aged 20 to 59, suggests that "quiet quitting" is becoming a new norm. Importantly, over 70% of those in Japan who identify with this practice intend to continue, with approximately 60% reporting satisfaction with the outcome, particularly enjoying more time for personal pursuits both during and outside work hours.

3. IN MALAYSIA 🇲🇾

Najib’s RM27 mil money laundering SRC case marches on
Najib Razak’s bid to drop his second set of SRC International-related charges has been rejected, with the prosecution confirming on June 4 that the case will proceed to trial. SRC is a subsidiary of 1MDB. Deputy public prosecutor Mohd Ashrof Adri cited the need for time to gather over 800 exhibits from the first SRC trial, last accessed in 2020, and requested extended trial dates. Najib’s lawyer urged the court to consider a discharge not amounting to an acquittal (DNAA), claiming the 2019 charges stemmed from a filing oversight. However, the prosecution opposed this, insisting on moving forward. The High Court will decide on June 20 whether to set trial dates or grant the DNAA. Najib, already serving time after exhausting appeals in the first SRC case, had previously sent representation letters to drop three money laundering charges involving RM27 mil.

Malaysia plants the seeds for a greener timber future
Malaysia is doubling down on sustainable forestry by advancing alternative wood sources through innovative, long-term strategies to meet rising global demand for locally produced timber. The Forest Research Institute Malaysia (FRIM) emphasised that safeguarding raw material supply is vital to the RM22.9 bil timber industry, which spans furniture, biofuels and biocomposites. While timber remains a key economic driver, FRIM noted that the ecological importance of native forests, such as climate regulation and biodiversity, necessitates reduced dependence on natural forest resources. To that end, the government, via the Malaysian Timber Industry Board (MTIB), is implementing the Forest Plantation Development Programme (PPLH), focused on cultivating eight high-value and fast-growing species like akasia, khaya, jati, eucalyptus and bamboo. FRIM supports this effort through research in tree propagation, wood processing and timber quality, showing strong promise for meeting industry demands sustainably. Sustainable timber isn't just about planting trees; it's about planting the future.

Imported fruits taxed, local fruits exempt from SST
The Finance Ministry has confirmed that all imported fruits will be subjected to a 5% sales tax beginning Jul 1, as part of the expanded Sales and Services Tax (SST). This includes tropical varieties such as bananas, pineapples, rambutans, longan, lychees, langsat, jackfruit, tamarinds and starfruit. Meanwhile, essential imported food items like rice, wheat, sugar, salt, meat and palm oil-based cooking oil remain exempt, though sunflower seed oil will be taxed. The tax order, published as Gazette PU(A) 170/2025, sparked public concern due to the apparent inclusion of tropical fruits.

Following confusion sparked by the latest SST gazette, the Finance Ministry has clarified that fruits grown in Malaysia will not be taxed under the new regime, as they are classified as non-manufactured goods under the Sales Tax Act. The misunderstanding arose after only coconuts were listed as exempt in the gazette, prompting fears that locally grown fruits would face the tax. Consumer groups voiced concern over food security and nutrition, especially given Malaysia’s reliance on imports to supplement the local fruit supply. The ministry reaffirmed that only imported fruits will be taxed, while all Malaysian-grown produce remains SST-free.

Influencer Mekyun exposes disturbing Facebook group targeting children
Malaysian influencer Mekyun sounded the alarm over a disturbing Facebook group called “Group Budak 2 Sekolah Rendah”, which had amassed over 12,000 members and was found sharing photos of underage students, some of which included her own childhood images, accompanied by sexually explicit comments. Expressing horror and disbelief, Mekyun described the group as “sickening” and urged authorities to take swift action. She later confirmed that she had lodged a police report with all available evidence (watch her IG story here) and that investigations are now underway. The group has since been removed from Facebook, thanks in part to public pressure and widespread reporting by users. Mekyun thanked supporters but warned that similar groups are still lurking online, calling on the public to continue reporting such content and protect vulnerable individuals. “This is not just about one group,” she wrote, “this is about the safety and dignity of our children and community.” Question — how long has the group been around?

Biz
Lulu bows out of Malaysia’s retail scene
UAE-based Lulu Group is shutting down all six of its hypermarkets in Malaysia, just eight years after entering the market with a bold RM1.3 bil investment plan, while retaining only its wholesale operations. The retail exit was confirmed by a company spokesperson and comes after months of clearance sales and a closure notice at its first store in CapSquare, KL, which ceased operations on June 9. The group’s website was also inaccessible at the time of reporting.
 
Cuckoo cools IPO price amid market jitters
Cuckoo International has slashed its Malaysian IPO price by 16.3% to RM1.08 per share from RM1.29, trimming the total offering size to about RM394 mil from RM471 mil, according to a stock exchange filing on June 5. The household goods firm, 62.5%-owned by South Korea-listed Cuckoo Homesys, had postponed its listing in Apr due to global market volatility. Initially slated for Apr 30, the IPO is now expected to conclude by June 24.

4. AROUND THE WORLD 🌎

Trump trade and Musk musings
Deal's done, says Trump
US President Donald Trump claims a trade framework with China has been completed, “subject to final approval” by him and Chinese President Xi. He added that the framework included an agreement for China to supply rare earth minerals “up front” while the US allows Chinese students back into American universities. However, these remarks included terms negotiators did not lay out, such as the supply of critical minerals. Still, negotiators from both sides agreed that a trade framework had been reached. Now, the two sides have until Aug 10 to negotiate a more comprehensive agreement or see tariff rates soar to the ridiculous 145% and 125% reached earlier this year.

Elon "regrets" recent social media posts against Trump
Tesla CEO Musk has expressed “regret” over his recent attacks on Trump through his social media platform X, following a celebrity divorce between the two recently. Musk admitted that the posts went “too far”, though there have not been any apologies, nor did Musk specify which criticisms he regretted. Trump’s “One Big, Beautiful Bill” broke the relationship between the two, with Musk calling the bill a “disgusting abomination” while expressing support for Trump’s impeachment. He also claimed Trump was the real reason the Epstein files were not released.

Guess Musk blinked this time.

Business bites
Jetstar Asia shutting down 
The Singapore-based budget carrier will be shut down by its parent Qantas, with rising operating costs and a crowded market blamed as the reasons for the closure. Operations will cease on Jul 31, after over 20 years in service, with more than 500 jobs lost. Until then, flights will still continue, but on a “progressively reduced schedule”. Jetstar Asia flew 16 routes from Singapore to multiple destinations. Jetstar’s operations in Australia, New Zealand, and Japan will not be affected.

Nvidia to build first industrial AI cloud
The chipmaking titan will be building its first AI cloud platform for industrial applications in Germany, where automakers can capitalise on the technology, which combines AI with robotics, to optimise operational processes. This is part of CEO Jensen Huang’s plan to expand technology centres in seven countries, open up Nvidia’s compute marketplace for European companies, help AI model makers in several languages become more advanced, and aid in drug discovery by pharma firms like Novo Nordisk. He aims to increase the amount of AI computing capacity in Europe by a factor of 10 within two years.

Blackstone goes big on Europe
The world’s largest private equity firm, Blackstone, is looking to invest at least USD500 bil (RM2.12 tril) in Europe over the next 10 years, with CEO and co-founder Stephen Schwarzman saying there are “signs of change” in Europe, with the belief that the continent will do “better than they had in the past”. This bullish stance also stems from the lower company valuations in Europe compared to the US, as well as a growing confidence in the region’s economic reforms, which Blackstone sees as a “major opportunity”.

UK sanctions far-right Israeli ministers
The sanctions were for National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich, for their “repeated incitements of violence against Palestinian communities” in the occupied West Bank. The sanctions see both ministers banned from entering the UK, with any assets in the UK frozen. This is part of a joint move with Australia, Norway, Canada, and New Zealand. Israel’s response called the sanctions “outrageous”, with US Secretary of State Rubio condemning the move as well, saying the sanctions do not advance “US-led efforts to achieve a ceasefire”.

Shorts

1. Austrian high school shooting leaves 10 dead 
   A 21-year-old former student killed 10 people when he opened fire at a high school before taking his own life. 12 others suffered severe injuries. Authorities found a goodbye letter addressed to the suspect’s parents during a search of his residence, but no clues were found about his motive. Three days of national mourning were declared.

2. South Korea shuts down border propaganda loudspeakers 
   The South Korean military suspended the loudspeaker propaganda broadcasts across the border to North Korea in a bid to “restore trust” between the two nations. This comes a week after the country elected its new president, who campaigned for improving inter-Korean ties. However, the move has been met with criticism from organisations advocating to improve the human rights of North Koreans, saying the move only “strengthens Kim Jong Un’s efforts to keep his people isolated”. Seoul claims the broadcasts can be heard as far as 10km (6.2 miles) across the border in the day and up to 24km (15 miles) at night.

3. Switch 2 is Nintendo’s fastest-selling console

   Japanese gaming giant Nintendo announced it had sold more than 3.5 mil Switch 2 units in the first four days after its launch, making the console the company’s fastest-selling gaming device to date. The second-generation model boasts a larger screen and improved graphics, and bears many similarities to its predecessor, which has sold 152 mil units since it first launched in 2017.

5. FOR YOUR EYES 📺

1. Unexpected collab - VFX creator Sofya and famous Hong Kong actor Louis Koo to promote the latter’s new movie, Behind The Shadows (watch trailer here).

2. New Superman trailer. Our July 10. This time around, featuring Super Dog, saving the world. On another note, in this Justice League universe, the Man of Steel even ended the Israel-Palestine war.