☕️ To laugh or not: Malaysia world model for fostering unity among races, inflation rate amongst lowest due to govt's commitment tackling inflation

1. MARKET SUMMARY

2. NUMBERS AT A GLANCE

144 soldiers were released in Ukraine’s biggest exchange of prisoners of war since Russia invaded. The majority of the Ukrainian prisoners were severely wounded. However, hundreds more Ukrainians are still believed to be held by Russia.

USD642 mil worth of drugs was torched by Myanmar authorities as part of eradication efforts for World Drug Day. Almost two tonnes of heroin and more than 630 meth pills went up in smoke at ceremonies.

Media owners expect advertising revenues in Malaysia to reach RM6.1 bil this year, according to Magna global advertising forecast. Mediabrands Malaysia chief investment officer Fan Chen Yip said digital advertising is the dominant media — it will make up 63% of total advertising spending in 2022.

3. IN MALAYSIA 🇲🇾

1. Looks like the ganja effect from Thailand has reached Malaysia, but we’ll let you be the judge of that.

   1. PM Ismail Sabri Yaakob said he is proud of Malaysia because our country is a great model for the world for its success in fostering unity among the various races.

   2. Jihad Task Force leader Annuar Musa said Malaysia’s inflation rate is among the lowest in the world due to the government’s commitment to tackling inflation — with subsidies and cash handouts. No such thing as free lunch.

   3. Deputy Menteri Besar Mohd Amar Abdullah of Kelantan said Kelantanese don’t need cinemas because they have other options to watch films — such as Netflix. Kelantan banned cinemas when PAS came into power back in 1990.

2. Umno president Ahmad Zahid Hamidi wants the National Recovery Council (NRC) to be dissolved as he deemed it irrelevant after the formation of the Inflation Jihad Task Force. Zahid said the NRC had not shown results and was established only as a platform for Muhyiddin to boost his image and his party.

3. After the Malaysian Communications and Multimedia Commission (MCMC) approved Celcom-Digi’s merger on Wednesday, Maxis appeared to be hit with a technical issue that was affecting a number of its customers yesterday. No conspiracies here.According to Communications and Multimedia Minister Annuar Musa (the same man chairing the Jihad Task Force), six local telcos have finally agreed to take up the stake in Digital Nasional Bhd (DNB). They will share a 70% stake in DNB. An official announcement on this matter should come sometime soon, according to Annuar Musa. Looks like we will get 5G after all!

4. Vincent Tan of Berjaya Group is all smiling after the Sabah Government’s strategic investment arm, Qhazanah Sabah Bhd (QSB), signed a memorandum of understanding (MoU) with Berjaya Land Bhd (BLand) to explore the possible relocation of Kota Kinabalu International Airport (KKIA) to Kimanis. Kimanis is approximately 50km southwest of Kota Kinabalu — it seems counterintuitive to move an airport after infrastructures have already been set up in the town of KK itself.

Shorts

1. Anwar Ibrahim took the high road and did not become the prime minister despite having the support of 118 MPs because he decided against entertaining calls to certain court cases involving prominent personalities. However, this has raised more troubling questions.

2. Two individuals, including the president of a Sabah-based political party, have been charged under Section 420 of the Penal Code for committing fraud over their alleged roles in a syndicate supplying fake Malaysian identification documents to those who are stateless.

3. If you have summons from PDRM and JPJ, you can get discounts of up to 50% from July 1-3, which is this weekend. The caveat is — it has to be paid physically in Pasir Salak, where the Perak leg of the Jelajah Aspirasi Keluarga Malaysia roadshow is happening.

4. Kebun-Kebun Bangsar (KKB) has been served the final eviction notice by the Federal Territories Land and Mines Office because the community farm violated the conditions of its Temporary Occupancy Licence (TOL). Residents in the vicinity had lodged complaints alleging nuisance.

“Pizza always confuses me… it comes in a square box, yet when you open it; it’s round. And when you start eating it it’s a triangle! Life and people are like pizza; look different, appear different and of course behave absolutely different”

- Author Unknown

4. AROUND THE WORLD 🌎

1. Israel’s parliament dissolves, and the country goes to polls on November 1, sending the country to the polls for the fifth time in just over three years. The government collapsed just over a year after it was formed, ousting longtime leader Benjamin Netanyahu as his fitness to serve is being questioned while facing charges of accepting bribes, fraud and breach of trust. This is hauntingly similar to Malaysia's situation of 3 PMs in 3 years and voters favouring an ex-PM who is currently facing trial.

2. President Xi Jinping made his first trip outside the mainland to Hong Kong since pandemic began to mark the 25th anniversary of the city's handover from Britain to China in 1997. In his speech, he said HK had been “reborn of fire” and the policy of one country, two systems “had been a success”. On 1 July 1997, the territory was promised 50 years of self-government and freedom of assembly, speech and press that are not allowed on the Communist-ruled Chinese mainland - events in recent times are proving the opposite of the promises.

3. Singer R. Kelly is sentenced to 30 years in prison for federal racketeering and sex trafficking charges. Kelly has been allegedly abusing young girls since the 1990s, all the while continuing to sell millions of albums. Some of the women who were abused came forward and described how he had “destroyed so many people’s lives” as they addressed him in the Brooklyn court trial. Later in August, he is to face another federal trial in Chicago on child pornography and obstruction charges. Very unlikely he’ll fly out of this.

4. Samsung beats TSMC to the production of three nanometer (nm) chips, which promises higher performance with less power. Meanwhile, TSMC’s 3nm process isn’t expected to go into mass production until the second half of 2022. The announcement is a key milestone in Samsung’s efforts to compete with TSMC, which dominates the market for contract chip production and is the manufacturer of Apple’s chips. Learn more here about why smaller nm chips are important.

5. A game-changer for economy travellers: Air New Zealand has announced its “Skynest” concept, which features six full-length sleeping pods on its new Boeing 787 Dreamliners in 2024. Each pod comes with a full-size bed, pillow, ear plugs, a reading light, USB port and a ventilation outlet. Each passenger will be limited to a four-hour session in one pod, at an additional cost to their regular Economy class seats. No first-class budget is required for this luxury in the sky anymore. 

6. What’s the price to access WeChat? USD220 mil. Ecommerce giant JD.com will issue shares worth USD220 mil to WeChat owner Tencent Holdings Inc over a 3-year period to access certain services on the chat platform. Tencent owns 2.7% of JD.com after selling a stake worth USD16.4 bil to Walmart last year.

7. Introducing NEWBrew — ale made out of recycled sewage. Ale is an alcoholic beverage. NEWBrew, a Singapore blond ale, uses NEWater, Singapore’s brand of drinking water recycled from sewage which is made by disinfecting with ultraviolet light and passing the liquid through advanced membranes to remove contaminant particles. It’s on sale now and the company expects stocks at supermarkets to run out by the end of July. Up for a glass? Buy it here.

5. FOR YOUR EYES 👁👁

1. Twitterjaya is not a fan of the Inflation Jihad Task Force — MalaysiaPMO had to delete its poll after 93% of voters disagreed with the formation of the task force.

2. The ‘no-look handshake’ — US President Joe Biden shook the hands of South Korea’s President Yoon Suk Yeol without even looking at him and spoke to Bulgarian President Rumen Radev.

3. A PSA ad — a bit extreme, but message delivered.

4. Indonesian President Joko Widodo visits Ukraine, and offers to deliver a peace message to President Putin during their upcoming meeting.

5. Warning: Graphic. More CCTV footage of the Russian missiles that struck a mall in Ukraine.