☕️ Loan sharks threatening Kelantan cops with red “11-9=2” graffiti

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

According to Rockwills International Group, a staggering 85% of Malaysians have no formal estate plan, and an estimated RM90 bil in assets remain frozen in probate. This is nearly 5% of Malaysia’s gross domestic product. However, among the 15% who do have planning, a trend of merging wills with trusts that fill critical gaps started growing in 2025. The dual-instrument approach emerged in the first quarter among high-net-worth households, before gaining traction throughout the year to become the dominant strategy by year-end. According to Rockwills CEO Azhar Iskandar Hew, a will alone cannot resolve the probate freeze, which could last between six and 12 months. However, a will and a trust together would see the former handle documentation while the latter manages asset protection, management, and continuity.

On real estate, Kuala Lumpur City Hall has a rental initiative in place under which fully furnished units can be rented for RM200 a month, or RM130 a month for persons with disabilities. This affordable housing scheme, called Residensi Belia Cheras (view here for more), targets single Malaysian males aged between 18 and 40 who are working in Kuala Lumpur, earn less than RM4,000 a month, and who do not own property within a 35km radius of the city centre. The aim is to provide an affordable option for young workers and industrial trainees struggling with Kuala Lumpur’s high cost of living.

On something a little lighter, here’s a reminder that there is a special RM1,000 personal income tax relief for domestic tourism. The relief was tabled during Budget 2026 last October by PM Anwar Ibrahim, and is meant to encourage domestic travel in conjunction with Visit Malaysia Year 2026. This would be a big help, since entry fees to some places are really not that cheap.

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3. IN MALAYSIA 🇲🇾

Malaysia cracks down on X’s AI Grok over safety concerns
Malaysia’s communications regulator is considering legal action against X after its AI tool, Grok, was found to fall short of local online safety rules. Communications Minister Fahmi Fadzil said the Malaysian Communications and Multimedia Commission (MCMC) received unsatisfactory replies from X after raising concerns last week about Grok’s ability to generate obscene content, including material involving children and women. He said temporary restrictions have been imposed on Grok, not the wider X platform while legal options are being reviewed, citing weak safeguards around AI-generated content. Fahmi said the case may involve breaches of the Communications and Multimedia Act and the Online Safety Act, and noted that other countries, including Indonesia and the UK, are also taking a closer look at Grok. He also reassured that the ministry aims to get all social media platforms to restrict access to users aged 16 and above by mid-year.

Loan sharks threatening Kelantan cops with red “11-9=2” graffiti
Kelantan police chief Datuk Mohd Yusoff Mamat said a red graffiti reading “11–9=2” found at the Kelantan Contingent Police Firing Range in Bachok, was meant to intimidate him following tougher action against loan shark activities. The message discovered was likely designed to unsettle the authorities, adding that while there could be many interpretations, he personally viewed the number two as symbolising a choice between life and death, with nine possibly referring to D9, or metal or a weapon. The loan sharks are kinda deep and poetic with their mathematical equation, if Yusoff’s interpretation is right. He stated the threat could be linked to a recent crackdown involving the reclassification of more than 100 loan shark cases, noting that graffiti and paint splashing are commonly associated with such syndicates. He stressed that police were not intimidated. Earlier statements were recorded from four local men in their 20s, later released on bail, with investigations still ongoing to determine whether they were acting on behalf of loan sharks.

Hannah Yeoh 1 - 0 Former IGP Musa Hassan in defamation case, plus RM250k 
Federal Territories Minister Hannah Yeoh said her successful appeal against former Inspector-General of Police Musa Hassan was never about the RM250k in damages, but about clearing her name. She said the Court of Appeal confirmed that the allegations against her were untrue and hopes the ruling will discourage the use of false racial and religious claims to scare voters. She was represented in court by a team of lawyers while Musa was not in court. The case stems from a defamation suit over comments Musa made six years ago at a UiTM forum about her book Becoming Hannah, alleging that Hannah had intentions to turn Malaysia into a Christian nation and had links with evangelists and Jews to damage Islam and Malaysia.

Business

AirAsia X: Dropping the X, and scoring RM1 bil 

Dropping the X: AirAsia X Bhd is set to take on the AirAsia name and start trading under the new identity on Jan 19, as Capital A moves closer to wrapping up its restructuring. CEO Tony Fernandes said Capital A will also submit its application to exit PN17 status on the same day, with the final court hearing fixed for Jan 21. The rebrand brings AirAsia X and AirAsia under one airline group and one brand, with plans for a global footprint supported by a hub in Bahrain, alongside low-cost operations in the UAE and Qatar.

The billion bucks: AirAsia X Bhd has locked in full subscription for its RM1 bil private placement, marking a key milestone as it heads into the final stretch of its aviation restructuring. The shares were priced at RM1.65 each and taken up by a mix of institutional and private investors, with the deal set to be completed on Jan 19 and the new shares listed on Bursa Malaysia’s Main Market the same day. Chairman Datuk Fam Lee Ee said the fresh capital strengthens the group’s growth plans. The enlarged AirAsia Group will now turn its attention to refinancing existing debt to lower interest costs and improve long-term cash flow.

Foodie Media hits record revenue and profit in first quarterly results
Foodie Media Bhd posted record revenue and profit in its first quarterly results since its ACE Market debut in Nov 2025, with a net profit of RM3.78 mil on revenue of RM12.6 mil for Q1 FY2026. Most of the revenue came from digital publishing and sponsored content, with some contribution from campaign management, affiliate commerce, and influencer marketing in Malaysia, Ireland, and Singapore. Net profit doubled from the previous quarter as revenue jumped 44.8%, while gross margin stood at 56.4%. CEO Nicholas Lim Pinn Yang said the company plans to expand content verticals and strengthen its KOL and creator network. Shares closed at 54 sen, up 80% from its 30-sen IPO, giving a market cap of RM480 mil. Over half of the RM75 mil raised in the IPO will go to hiring nearly 200 new staff, while RM33.6 mil was a kaching for existing shareholders. View earnings here.

4. AROUND THE WORLD 🌎

US vs Iran

Round 2 of strikes possible: The Trump administration has said that they are still considering military strikes on Iran, leveraging the Iranian government’s harsh crackdown on protesters as a pretext to attack its longtime “foe”. Trump, who bombed Iranian nuclear facilities in June and has previously threatened Tehran with further strikes if it does not come into greater alignment with US demands. The US said that air strikes are one of “many options” being explored, but a strike on Iran would likely violate international law, and Trump has frequently threatened countries that defy his will with possible military strikes.

Iran ready for war, but let’s talk too: Responding to the threats, Iranian Foreign Minister Abbas Araghchi has warned the US that his country is ready for war if Washington wants to “test” it. He said channels of communication with the US were open amid the ongoing unrest but stressed that his country was “prepared for all options”, claiming that Iran now has “large and extensive military preparedness” compared to last year’s 12-day war.

25% tariff on everyone dealing with Iran: Trump announced on social media that countries that trade with Iran would face a 25% tariff, “effective immediately”, but without offering additional details. It is not clear which countries might be affected, but major economies such as Russia, China, Brazil and Turkiye all trade with Iran, which has been roiled by widespread antigovernment protests and riots over the past week. Iraq and the United Arab Emirates are also important trading partners, according to the database Trading Economics.

Apple x Google in multi-year deal for AI, Siri
Google and Apple have announced a multi-year deal to power the iPhone maker’s AI technology, bolstering Google’s parent company Alphabet’s position in the race against OpenAI. Bloomberg reported late last year that the two companies were finalising such a deal, with Apple planning to pay about USD 1 bil (RM4.06 bil) a year. Apple said that it has determined that Google’s AI technology provides the most capable foundation for Apple Foundation Models. The companies said that Apple would maintain its privacy standards by continuing to run its AI services on consumers’ devices or via private cloud compute - a secure online system. The Google technology will help support a new version of Siri that is due this year. It is said that Alphabet has been jostling with OpenAI for the Apple deal, but no financial details were disclosed.

How Google went from a laggard to a leader in the AI race:

Grab to operate Singapore’s first self-driving shuttle route in Punggol
Singapore’s transport authority has announced that its first self-driving shuttle route in Punggol is set to open to the public in 2 to 3 months. The route will cover 10km, connecting residents of Matilda Court and Punggol Clover with the polyclinic at Oasis Terraces via Punggol Plaza. Each round trip is expected to take around 35 minutes.

Ride-hailing firm Grab will run the service in collaboration with Guangzhou-based autonomous vehicle company, WeRide, through WeRide’s Ai.R (Autonomously Intelligent Rides) shuttles. Grab will operate two out of the three planned routes in Punggol, with the second being 12km long, which will connect Punggol West and Punggol North.

The third will be run by transport operator ComfortDelGro, using vehicles supplied by Chinese autonomous driving firm Pony.ai. In Sept 2025, Acting Transport Minister Jeffrey Siow stated that Singapore plans to deploy 100 to 150 self-driving vehicles by the end of 2026, as part of a broader effort to expand autonomous transport across the island over the next five years. Grab drivers better start upskilling - the future is nearer than we think.

Single-tusked elephant on a rampage in India, kills 22
Residents in the villages of West Singhbhum district of Jharkhand, India, have been put on high alert over an elephant that has killed 22 people in a days-long rampage through the state. The single-tusked elephant is believed to be a young male which has been separated from his herd and has become “extremely violent”. Three attempts had been made to tranquillise the elephant, but all had failed so far. The rampage comes as deadly human-elephant conflict is on the rise in India, attributed to rising deforestation, food and water scarcity and increased residential encroachment in areas that were once elephant corridors. Over the past five years, more than 2,800 people in India have died from deadly encounters with elephants.

5. FOR YOUR EYES 📺

1. The plants that kill us.

2. The plants that feed us. More than 90% of 400,000 plant species will kill us. Most of the plant calories we consume come from only 11 plant families.

3. The country that excels in growing the plants that feed us.