☕️ MACC's MAGA: Make Anti-Corruption Great Again

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Air Kelantan owes TNB RM61 mil in unpaid electricity bills across 198 accounts as of June. The debt has been acknowledged by the water company and will be settling the amount in stages. The two utility firms have met to discuss possible solutions, but no agreement has been finalised. This is actually part of a bigger problem between Kelantan and TNB, as almost 500,000 consumers in the state have unpaid electricity bills amounting to RM229 mil. The majority of the consumers were domestic users, with 411,780 accounts owing RM114 mil. Commercial and industrial users had 80,196 accounts owing RM53 mil.

Nepal is raising permit fees to summit Mount Everest for the first time in nearly a decade, pushing said fees up to USD15,000 (RM63,195) during peak season. However, in a bid to boost tourism in some of its more remote areas, Nepal will also be making 97 of its Himalayan mountains free to climb for the next two years. Mountaineering is a significant source of revenue for Nepal, where eight of the world’s 10 tallest mountains call home. Climbing fees brought in USD5.9 mil (RM24.9 mil) in 2024, with the permit fees for Mount Everest making up over 75% of that total.

Over in Japan, Casio Computer now has 73 different models of scientific calculator, 40% more than it had seven years ago. Now, in a bid to stay relevant in the age of the smartphone, the company is diversifying into electronic dictionaries and exam construction, while looking to schools in certain countries in Asia and Africa as potential markets for its calculators. This will be done through the promotion of teaching methods that employ scientific calculators, an initiative called “Gakuhan”. The hope is that, as schools pick up the use of calculators, there will be more awareness of the brand’s other products, such as watches and musical instruments. As much as one would ask why so many calculators, Casio IS a world leader in calculators, holding 60% of Japan’s calculator market and shipping about 1.8 bil calculators worldwide to date. Still, Casio’s earnings are in a “managed decline”, with sales coming up to USD1.8 bil (RM7.6 bil) in 2024, about 40% of its peak in 2007. Net profit came in at USD54.5 mil (RM229.6 mil), 25% of the record set in 2015. Financial results available here.

3. IN MALAYSIA 🇲🇾

MACC’s MAGA: Make Anti-Corruption Great Again

• Corruption trials livestream?

  Malaysian Anti-Corruption Commission (MACC) chief commissioner Azam Baki has called for live broadcasts of corruption trials to boost public confidence in the judicial process. Not just in the courtroom either, as he also proposed that lock-ups owned by enforcement agencies in the country be equipped with advanced closed-circuit television (CCTV) cameras to enhance transparency and integrity. With cameras proposed left, right and centre, one can say there’s enough material for a reality show.

• Forget about Batman, we are going to have MACCman soon

  Azam Baki also revealed that three producers have approached him about producing an anti-corruption-themed film. He stated that MACC is open to this idea, up to the point that the anti-graft agency has provided several examples of its cases for adaptation. “The film must send the right message on anti-corruption and its story must be told in an engaging way,” he said. Hopefully, it turns out more like Die Hard, and not a Modern Family comedy.

• Move aside, ABCs, anti-corruption is coming to preschooler textbooks

  According to the MACC chief, there is also a plan in the pipeline to introduce anti-corruption elements at the preschool level as part of efforts to nurture a generation that rejects graft from an early age. A study conducted in 2003 at a local university revealed that about 30% of the undergraduates polled said they would be willing to accept bribes if given the chance. Early discussions have commenced with Universiti Pendidikan Sultan Idris and Universiti Utara Malaysia in developing the modules for preschoolers.

22 mil MyKad holders can now check their eligibility for Sara Aid
The Finance Ministry announced that 22 mil Malaysian MyKad holders can now check their eligibility for the Sumbangan Asas Rahmah (Sara) Appreciation Aid via the official Sara portal at sara.gov.my starting from Thursday (August 21). As long as you are aged 18 and above or born in 2007 or earlier, you are eligible. The RM100 credit will be distributed starting August 31, in conjunction with National Day, and expires December 31 this year.

In other news, PM Anwar Ibrahim told the Parliament that ownership of property and luxury vehicles will be factored in to determine who qualifies for petrol subsidies, though analysts caution that this could complicate the implementation of the politically sensitive policy. But then again, what vehicles are deemed luxury? The criteria need to be clearly defined so that 85% of Malaysians can enjoy the subsidies as promised, and not too vague that there are loopholes that can be exploited. Previously, Second Finance Minister Amir Hamzah Azizan said in March that the mechanism for the targeted RON95 subsidies will involve a two-tier pricing system and the potential use of MyKad.

Business news

• Construction breaches result in first stop-work order for a data centre project
  State Housing and Local Government Committee chairman Mohd Jafni Md Shukor announced that Johor will issue its first stop-work order to a data centre. The order was given to the Iskandar Puteri-based data centre project following public complaints over earthworks, dirty roads, the absence of hoarding, and construction activities carried out late at night. He added that the contractors were given two weeks to comply with several conditions. Interesting fact, currently there are 13 operational data centres in Johor, with 14 data centres approved, and another 8 applications under review.

• PetChem rally continues
  Investors were gunning for tradeable warrants tied to Petronas Chemicals Group Bhd (PetChem) as they were betting that the warrants would rise as much as the stock of PetChem. And boy, they were right. At its peak, PetChem’s stock rose to RM4.70, its highest since January 23, while the warrants (such as Pchem-C1F) soared as much as 500%. The upward movement of PetChem’s stock was not surprising, however, as it follows the Employees Provident Fund (EPF) buying 5.1 mil PetChem shares over the past week. PetChem saw a revenue of RM6.4 bil and a loss after tax of RM1 bil in its most recent quarter. Losses and yet the stock flew.
  Learn: What is warrants?

• AirBorneo will be airborne in January 2026
  Sarawak’s very own airline, AirBorneo, unveiled its official logo, dubbed the “Wings of Unity”, and its new tagline, “Borneo For You”, marking a key milestone as the airline prepares to begin operations in January 2026. AirBorneo will take over and expand on the services provided by MASwings, offering both full-service routes and essential rural air services to remote communities. Interestingly, Sarawak is open to the possibility of working together with the Sabah State Government and sharing ownership of its new airline, if Sabah is willing to invest in the venture.

• 13MP passed in Parliament
  The lower house of the Parliament, Dewan Rakyat, passed the motion on the 13th Malaysia Plan (13MP/RMK13) through a majority voice vote. The 13MP motion was debated over eight days since August 4, involving 161 MPs. Among the key issues raised during the debate were calls for a flexible and optional pension withdrawal model, the formulation of new policies to enhance the education structure, and strengthening Malaysia’s creative economy, also known as the orange economy.

4. AROUND THE WORLD 🌎

Trumpnation
US, EU solidify trade deal
The US and EU have released fresh details about their trade framework, including on hotly-contested and anticipated pharma and semiconductor tariffs. EU Trade Commissioner Maros Sefcovic said that “this is the most favorable trade deal the US has extended to any partner” and added that it is the first step towards covering more sectors and improving market access. Here’s a quick view of the numbers:

Trump: Literally rich and in power
Filings released by the US Office of Government Ethics have revealed that US President Donald Trump has bought more than USD100 mil in bonds since taking office in January. Purchases include bonds issued by the financial giants Wells Fargo, Morgan Stanley, and Citigroup, as well as those from corporate household names such as Meta, UnitedHealth, T-Mobile and The Home Depot. Due to the Watergate scandal in 1978, which introduced increased transparency in campaign finance and limiting money in politics, US presidents are required to disclose a broad accounting of their finances, but they are not obligated to divest from assets that could potentially raise conflicts of interest. Before Trump, US presidents usually set up a blind trust or committed to limiting their investments to diversified mutual funds upon taking office. But not Trump - he instead passes control of his business empire to a trust managed by his children. Bloomberg Billionaires Index last month estimated Trump to be worth USD6.4 bil.

Trouble with AI
“AI psychosis” keeps Microsoft AI boss awake at night
Microsoft’s AI boss Mustafa Suleyman said in a personal essay that he is worried about “Seemingly Conscious AI” - an emerging AI model which he defined as having "all the hallmarks of other conscious beings and thus appears to be conscious." He added that the arrival could be "dangerous" for society because it could lead to people forming attachments to AI and advocating for AI rights. Although there is currently “zero evidence” that AI is conscious, people are increasingly becoming attached to AI, leading to the rise of "AI psychosis": a non-clinical term describing incidents where people increasingly rely on AI chatbots such as ChatGPT, Claude and Grok and then become convinced that something imaginary has become real. Examples include believing to have unlocked a secret aspect of the tool, or forming a romantic relationship with it, or coming to the conclusion that they have god-like superpowers. He calls for urgent guardrails to be put in place to protect people, and ensure that AI technology can keep on adding value to the world. Read more of the personal essay here.

AI tool for false and satirical content
The advancements of AI tools has also led to more online fakery - creations of false and satirical content that is targeted to specific people or major global events, also called AI slop. Take the US-Russian summit for example. AI slop — such as fake images of Donald Trump and Vladimir Putin dancing in the snow with a polar bear or a fabricated photo of European leaders waiting somberly outside the Oval Office — went viral as the important event unfolded. While it may sometimes appear entertaining or harmless, these creations do highlight the challenge of policing bogus content, as tech platforms offer creators monetisation incentives for viral posts. Where do we draw the line?

Thailand’s Shinawatra dynasty faces triple court showdown
Thailand’s billionaire Shinawatra family has been at the heart of two decades of intermittent political turmoil in Thailand, and upcoming court rulings could test the family’s political resilience. The court rulings could even eventually unseat PM Paetongtarn Shinawatra for an alleged ethics violation and put her influential but polarising father Thaksin Shinawatra back in prison. A court will be ruling if Thaksin, during a 2015 media interview, insulted the powerful monarchy, a serious crime in Thailand which carries lengthy jail terms of up to 15 years for each offence. Another court will decide 18 days later if the tycoon’s 2023 detention in a VIP hospital wing, instead of jail, means his prison sentence for abuse of power and conflicts of interest was not fully served. The family had prevailed through two military coups and three court rulings that collectively toppled three of their governments and five prime ministers. Insulting the monarchy is a form of lèse-majesté, which means a crime against the sovereign, but could also mean treason.

Shorts:

1. Farewell Judge Caprio
   Much loved US celebrity judge Frank Caprio has succumbed to pancreatic cancer at the age of 88, leaving behind a legacy of a career of over 40 years in Rhode Island, where he famously used compassion and humour to make judgements that took into consideration the personal circumstances of the people in the dock. He presided over thousands of cases in his hometown before embarking on a TV show titled Caught in Providence, where real people with real cases stood before him in court. It was nominated for three Daytime Emmys, with Judge Caprio earning two of his own nominations last year. You might have come across videos before - check it out here.

2. Murder in the Seine
   The infamous River Seine in Paris, which had gone through a USD1.5 bil cleanup last year, had to suffer another “dirty” fate after four bodies were found in the river last week, barely a month after the river was declared open to public swimming. The first victim was spotted by a passer-by near a bridge in Choisy-le-Roi, and three more bodies were subsequently found in various states of decomposition. A man has been arrested, and prosecutors said that there is no evidence of a link between the victims so far. In all honesty, would you swim in the Seine river?

5. FOR YOUR EYES 📺

1. We can see so many potential applications, both personal and commercial for this robo doggo. But at the same time, it feels dystopian. Created by Unitree, one of China’s Six Little Dragons (DeepSeek is one of them). You can buy it here - not too expensive. It’s on sale on Shopee too.

2. 20 people confronting billionaire John Morgan (net worth of USD1.5 bil), the founder of injury law firm Morgan & Morgan.

Have a good weekend and may you sleep well like this man and his capybara!

weirdkaya

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