☕️ Jailed politician stripped of 'Tan Sri' title

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Number one in Asia – DBS Group CEO Tan Su Shan has been named the most powerful woman in Asia on Fortune’s 2026 Most Powerful Women in Business list. The list, which is now in its 29th year, featured 100 women from the corporate world, who collectively lead 94 companies employing 11.8 mil people and generating USD7.3 tril (RM29.71 tril) in annual revenue. Topping the 2026 ranking is Jane Fraser, chair and CEO of Citigroup. Fraser made history in 2021 as the first woman to lead a major Wall Street bank. See the full list here.

JPY8.5 bil (RM215.6 mil) – That’s the estimated value of the home-delivery pizza market in Japan’s Fukuoka prefecture. Notably, Fukuoka is the only region in Japan where a company other than one of the three major chains holds the top position. The market leader in the prefecture is Pizza Cooc, run by Iwata Diners, which accounts for an estimated 40% to 50% of the market. The major chains have tried for over a decade to break Pizza Cooc’s hold on Fukuoka, to no avail. Pizza Cooc operates 33 stores across Fukuoka and neighbouring Saga prefecture, with plans for roughly 50 additional outlets.

44 added, 18 removed – The Securities Commission Malaysia crossed off 18 stocks and added 44 names to its list of Shariah-compliant securities. Among the names crossed off the list are social media marketing firm Foodie Media Bhd, contract manufacturer Globetronics Technology Bhd, and arcade machine trader Semico Capital Bhd. Additions include chip design firm SkyeChip Bhd, automated test equipment maker VisDynamics Holdings Bhd, and renewable energy firm Wasco Greenergy Bhd. A stock deemed non-compliant will usually trigger a sell-down by shareholders, especially those who adhere to Islamic investment principles. Stocks are marked non-compliant if they are involved in activities considered haram, such as gambling or alcohol, but also if they take on excessive interest-based debt.

3. IN MALAYSIA 🇲🇾

Regional Energy Security
PETRONAS will supply more fuel to Japan: PETRONAS signed a 20-year agreement with Japan’s biggest power generator, JERA, to supply Japan with 2 mil metric tons of liquefied natural gas (LNG) annually, starting from 2028. The deal was announced during the bilateral visit between Japanese PM Sanae Takaichi and PM Anwar Ibrahim.

At the moment, JERA currently buys 360,000 tons of LNG annually from Malaysia. It aims to maintain around 10% of its LNG ‌supply ⁠from Asia, including Indonesia and Papua New Guinea. Japan as a whole imports about 15% ​of its LNG from Malaysia, its second-largest supplier after Australia.

Putrajaya looking towards Africa and Turkey for more oil: Economy Minister Akmal Nasir announced that Malaysia is looking at Africa and Turkey for the black gold aka oil. At the same time, Malaysia is also mulling over the possibility of importing crude oil from the US and South America, as well as refined petroleum products from Singapore.

Akmal said crude oil differs in quality and characteristics across countries, procurement decisions must account for whether Malaysian refineries can process the oil supplies. As Malaysia deploys the ‘buy cheap, sell high’ commercial strategy, many domestic refineries, including those in Melaka and the Pengerang Integrated Complex (PIC), are purposely built to process heavier, more sour crude oils typically imported from the Middle East.

Up in the air: AirBorneo and AirAsia weathering challenges
Recently, AirBorneo announced that its flight disruptions were caused by multiple aircraft becoming unavailable at the same time due to scheduled maintenance and technical rectification work, compounded by delays in the delivery of key replacement parts. At the moment, AirBorneo operates eight ATR 72-500 aircraft and six DHC-6-400 Twin Otter aircraft, after taking over from MASwings Sdn Bhd. Guess the new paint job came first before the crucial maintenance.

AirBorneo CEO Megat Ardian Wira said that the airline has adopted a series of measures to improve fleet reliability, including expediting repairs, reviewing its existing maintenance and parts supply contracts, adding alternative supply partners and the introduction of new aircraft.

Meanwhile, another Malaysia-based airline, AirAsia, is also struggling as the low-cost airline is postponing its ‘Bahrain plan’, which involves launching services to London’s Gatwick airport via Bahrain. The budget carrier said it remains committed to opening a hub in Bahrain but needed to take a ‘measured approach’.

Shorts:

1. Isa Samad is no longer a Tan Sri
   The PM’s Department stated that the Yang di-Pertuan Agong had approved the decision to strip former FELDA chairman Isa Samad of his ‘Tan Sri’ title. At the moment, Isa is serving a prison sentence at Sungai Buloh prison after being convicted of an offence related to nine corruption charges involving RM3.09 mil. The withdrawal of Isa’s Panglima Setia Mahkota award was in accordance with the statutes for the withdrawal of honours from recipients who have been convicted of criminal offences.

2. NFA on Azam Baki’s ‘threat‘ on Albert Tei
   The Attorney-General’s Chambers has classified the police investigation into former MACC chief commissioner Azam Baki’s alleged threat against businessperson Albert Tei as ‘no further action’. AGC said that the decision was based on the fact that the element of criminal intimidation could not be established in the case. The businessperson alleged that Azam had threatened and attempted to stop him from exposing the Sabah corruption scandal in Nov 2024. Commenting on the AGC’s decision, Tei was obviously not happy with it and accused AGC of double standards.

3. Perodua launches a new concept car
   Perodua has now unveiled the Perodua C2 Concept during the KL International Mobility Show (KLIMS) 2026, which showcases Perodua’s design language for its second EV, which would be a B-segment sedan. Perodua is still betting that battery swapping will be a thing in the future.

4. AROUND THE WORLD 🌎

Trump vs the world
Albanians protest against Kushner resort
A massive crowd of Albanians have gathered in the capital, Tirana, in the largest protest yet against a luxury resort development backed by Trump’s son-in-law, Jared Kushner. It is said to be the ‌brainchild of Kushner and his wife, Ivanka Trump, who described falling in love with Albania a few years ago while visiting on a yacht.

The project, expected to cost about EUR5 ⁠bil (USD5.8 bil or RM23.59 bil), has provoked outrage in the Balkan country because of its location near a protected wetland home to flamingos, seals and sea turtle nesting sites. Dubbed the Flamingo Revolution, the protests erupted in the village of Zvernec on the southern coastline where the resort is planned, with critics raising concerns about a lack of transparency surrounding the plans designed by foreign investors.

The protests are also the latest test for PM Edi Rama, who has been in power since 2013 and whom many now blame for failing to eradicate widespread corruption or doing enough to improve basic services like healthcare.

Protest against Donruto
About 20,000 people have signed a petition on Change.org entitled Protect Japanese Manga, protesting against the official White House X account posting videos featuring unauthorised use of imagery from the popular Dragon Ball, Yu-Gi-Oh! and Naruto series.

The petition was first created in Mar after the White House posted a video that combined footage of US strikes on Iran with anime scenes. The petition was revived after manga fans were angry again over a post on Truth Social depicting Trump as the ninja Uzumaki Naruto from the Naruto franchise. This time, a pledge to redouble lobbying efforts with the Japanese government is also included.

Two men sentenced to death for 2015 Bangkok bombing
The Bangkok South Criminal Court has finally issued its long-delayed ruling for the Erawan shrine bombing trial, convicting two ethnic Uighur men of premeditated and attempted murder for their role in planting a bomb at the Erawan shrine in Bangkok’s commercial heart on Aug 17, 2015. The defendants, Chinese nationals Yusufu Mieraili and Bilal Mohammed, were charged with a variety of offences, including murder, attempted murder and illegal possession of explosive materials. Both have been sentenced to death. The case took more than 10 years to reach a verdict, with prosecutors collecting evidence from hundreds of witnesses. The Erawan shrine blast tore apart the site where worshippers and tourists had gathered, injuring more than 120 people and leaving the shrine littered with motorbike fragments and singed debris.

When a divorce is good to protect against bankruptcy
The liquidation of collapsed property developer China Evergrande Group has raised concerns among some partners at its former auditor, PricewaterhouseCoopers (PwC) China, about the potential impact on their own finances. Partners are reportedly exploring strategies to safeguard personal assets, in case legal and regulatory challenges facing the firms ever spill over into any financial or legal burdens for themselves.

Some are considering divorce as a means of shielding wealth, while another is cutting education budgets for their children as well as considering leaving the firm. Evergrande’s liquidators have claimed “negligence” and “misrepresentation” in the auditing work done by PwC’s mainland and Hong Kong affiliates for the failed property giant.

They are seeking CNY57 bil (RM34.23 bil) in a lawsuit against PricewaterhouseCoopers International Ltd and the affiliates. Although the case didn’t involve claims against the partners’ personal assets, the judge said in the ruling that any individual partner had an obligation to take steps to facilitate compliance.

Animal kingdom
5.3-million-year-old whale necropolis discovered by Chinese sub
Chinese scientists have discovered the world’s deepest and oldest known whale graveyard at the bottom of the Indian Ocean, with fossils dating back 5.3 mil years. When whales die and sink to the seafloor, their sunken bodies – called "whale falls" – provide a food source for deep-sea creatures and also form new ecosystems on the ocean floor.

The discovery revealed many different marine creatures living off the carcasses, such as jellyfish, brittle stars, bone-boring worms and molluscs called bivalves. The scientists also said that they discovered a new but extinct species of whale among the nearly 500 skeletons found along the 7,000m deep, and 1,200km-long corridor of bones. Fossils found during the trawling also suggest there could be others off South Africa, the Iberian Peninsula, and the Crozet Islands.

Read the full journal paper here.

Only four days of extreme rain killed 7% of the world’s rarest great apes
A recent study published in the CellPress journal has suggested that 58 out of the remaining 800 critically endangered Tapanuli orangutans (Pongo tapanuliensis) were killed after more than 1,000mm of rain fell over four days in Indonesia’s North Sumatra province in Nov 2025. This equates to 11% of the local population and 7% of the entire species.

Primatologists and conservationists say that the loss due to a single climate-induced landslide event is a devastating demographic shock to the world’s rarest great ape, and that this type of extreme weather is worrying for the future of the species. The Indonesian government has temporarily paused all major industrial activity in the Batang Toru area to allow scientists to investigate how best to secure the long-term survival of the Tapanuli orangutan while also assessing the parallel risks posed to human lives.
Learn: What is the difference between orangutans in Sumatra and the ones in Borneo?

5. FOR YOUR EYES 📺

1. A dietitian’s advice on what healthy eating (relatively) is at a mamak.

2. World Cup starts today. Match schedule, groups etc. - view here. And Erling Haaland promoting popular Chinese herbal tea and speaks Mandarin. Catchy tune.

3. Some reflection for the weekend. Have a good one ahead!