☕️ Madani government now brings you 102-acre Madani City in Putrajaya

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Despite contributing significantly to Malaysia's economy by accounting for almost 40% of the gross domestic product (GDP) and 48.5% of employment, Small and Medium-sized Enterprises (SMEs) made up only 12.2% of total exports in 2023. This highlights their crucial role within the domestic economy and supply chains, particularly in the services sector, even as most exporters are larger, often multinational, firms.

Despite the common notion of dogs being "man's best friend," a significant number of working dogs, such as guide dogs, are returned by their owners due to incompatibility. For instance, approximately one-third of guide dogs, which can cost up to USD50,000 (RM212,650) to train, are returned because they don't form a bond with their assigned owner. To mitigate these mismatches, German researchers are working to foster more harmonious dog-human relationships. Their studies have now confirmed that dogs not only tend to resemble their owners but also share similar personalities, a finding that could be crucial in creating more successful and lasting partnerships.

Duolingo has announced the launch of 148 new language courses developed using generative AI, effectively doubling its current course offerings and marking the largest content expansion in the company's history. This launch comes amidst recent backlash the company faced for its decision to replace contractors with AI and prioritise an "AI-first" approach. The first 100 courses took about 12 years, and now, in about a year, Duolingo is able to create and launch nearly 150 new courses.

3. IN MALAYSIA 🇲🇾

Madani City: a smart leap for Putrajaya
Malaysia has unveiled plans for ‘Madani City’, a 102-acre high-density township in Putrajaya that will blend sustainability with smart living through AI and green mobility. Set to house over 30,000 people in 10,000 vertical residential units, the project aligns with the federal government’s CHASE vision for advanced, safe, and eco-friendly urban centres. Facilities will include vertical schools, TVET institutions, clinics, police and fire stations, financial hubs, and a mosque, all within walking distance of homes. The first phase, comprising 3,000 units and a school, is targeted for completion by end-2027. If executed with integrity and inclusivity, Madani City could become a blueprint for future-proof urbanisation that places people, not just technology, at its core. Cost? Not stated.
Chase is the federal government’s vision to create clean, healthy, advanced, safe, and eco-friendly cities across the three federal territories.

The importance of media reporting suicide cases correctly
Media outlets and content creators have been urged to adhere strictly to suicide content guidelines issued by the Communications and Multimedia Content Forum of Malaysia (CMCF), which caution against detailed reporting that could trigger copycat acts, especially among vulnerable individuals. The guidelines stress avoiding explicit descriptions of methods, images of scenes, or identifying specific locations, as these could inadvertently glamorise suicide or turn places into known sites. Instead, reporters are encouraged to use sensitive language such as “died by suicide” and focus on the individual’s life and contributions rather than the act itself. Coverage should be discreetly placed, away from front pages and prime-time slots, and interviews with bereaved families must be handled with care, particularly around children. Responsible reporting isn’t about censorship, it’s about protecting lives while still telling the truth with empathy and care.
If you or someone you know is struggling, please contact these helplines.

Business

Petronas eyes exit in Canada shake-up in deal worth USD6-7 bil
Petronas is reportedly exploring strategic options for its Canadian unit, formerly known as Progress Energy Resources Corp, which could include a full or partial sale. Sources familiar with the matter say the state-owned energy giant has engaged a financial adviser, with the asset potentially valued between USD6 bil and USD7 bil (RM25.48 bil-RM29.7 bil). Petronas acquired Progress Energy for USD5.3 bil in 2012 to strengthen its shale gas portfolio and currently holds a 25% stake in the LNG Canada project alongside Shell, PetroChina, Mitsubishi, and Korea Gas. Weighed down by falling oil prices, Petronas saw its net income drop over 30% in 2024 and has announced job cuts.

EPF Q1 2025 Performance
EPF recorded RM18.31 bil in investment income for Q1 2025, a 13% dip from RM20.99 bil a year earlier, citing global market volatility and policy uncertainties. Equities remained the top contributor at RM10.81 bil, though down 23% year-on-year, followed by fixed income (RM5.99 bil), real estate and infrastructure (RM1.08 bil), and money market instruments (RM430 mil). Foreign exchange gains added RM1.02 bil, though not distributable as dividends. EPF’s total assets rose to RM1.26 tril, with 38% invested overseas contributing 44% of income. Meanwhile, rising membership and contributions up 15.1% to RM33.54 bil signal labour market resilience, with voluntary contributions surging 62% to RM7.02 bil.
View the full announcement and for more stats here.

Shorts

1. Mara’s UK Deals: Big savings, but what about local education?
   Three UK universities- Warwick, Birmingham, and Edinburgh are offering Mara-sponsored students 10-20% tuition discounts, saving over RM100k per student. While the savings sound impressive, one wonders why such deals take years to secure, given Mara’s hefty education budgets. There are currently 1,508 Mara-sponsored students pursuing their studies in the UK. Mara chair, Asyraf Wajdi Dusuki, is also courting Cambridge for postgraduate co-funding and educator exchanges in trendy fields like AI and quantum tech. These moves are promising but highlight how Malaysia still leans heavily on foreign institutions instead of building stronger local centres of excellence.

2. MACC freezes GBP132mil of Daim’s family assets

   MACC has secured a KL High Court order to freeze GBP132 mil (RM758.2 mil) in assets belonging to Naimah Khalid, wife of the late former finance minister Daim Zainuddin, in London. The assets include commercial buildings, luxury homes, and a bank account linked to suspected money laundering. This is part of efforts to trace over RM2 bil in undeclared wealth tied to Daim, his family, and proxies. Investigations have expanded to eight new probes with foreign agency support.

3. New AWAS speed system postponed

   The AWAS system will activate Point-to-Point Average Speed Detection across major highways in Malaysia, using travel time between toll plazas to calculate a vehicle’s average speed. Supposedly, trials were to start in June but has yet to begun. Drivers clocking in earlier than the minimum expected time indicating speeds above the 110km/h limit will be flagged, with violations resulting in court summonses, not just standard fines. Smart solution, but with everything, there are ways to game it - longer R&R stops perhaps?

4. AROUND THE WORLD 🌎

Israeli academicians calls to stop war on Gaza
The growing protests within Israel about the atrocity in Gaza have taken a different tone - this time through an open letter sent by Israeli academics, aka the Black Flag Action Group, who call for the heads of Israeli academic institutions to “speak out” and act to stop the war in Gaza. While usually the focus of the objections revolves around political reasons or concerns over Israeli captives’ safety, this letter specifically focuses on the suffering of Palestinians, citing warnings of acute starvation being forced upon Gaza as a “result of intentional and openly declared Israeli government policy”. More than 1200 Israeli academics signed the letter, all wanting their protesting voices heard and calling for similar strikes à la the ones demonstrated against Israeli PM Benjamin Netanyahu’s ongoing campaign to untether his government from judicial oversight, beginning in the early months of 2023.

The People vs Corruption

First in the world - Mexican people can now choose their own judges
Mexican President Claudia Sheinbaum is adamant that the people of Mexico should choose their own judges, as a way to clean up the country’s judiciary mired in corruption. The people of Mexico were presented with a dauntingly long list of largely unknown candidates in an election for around 880 federal judges as well as hundreds of local judges and magistrates, with an election round for the remainder to be held in 2027. However, the leader of the opposition Institutional Revolutionary Party (PRI) denounced the vote as a “farce” and called it a “dark day for democracy”, and some critics warned that criminal groups who regularly use violence, threats and bribery would seek to increase their influence over the courts by meddling in the vote. The exercise had made Mexico the only country in the world to let voters select all of their judges, including supreme court justices.

It’s a bye bye for Mongolian PM
Enough is enough for Mongolian PM Luvsannamsrain Oyun-Erdene, as he had no choice but to resign after losing a vote of confidence amid weeks of anticorruption protests by the Mongolian people. The Parliament failed to back him in a confidence vote the previous day, with only 44 lawmakers backing him and 38 against. Apparently, the people are tired of his lavish lifestyle with his family, leading to persistent demonstrations in the capital, Ulaanbaatar (view on map here). Oyun-Erdene, who spent more than four years in office, denied the corruption allegations against him, and even warned that political instability and economic chaos would follow should he be forced out of power. Mongolia has been facing deep-seated corruption for decades, with many arguing that wealthy elites are hoarding the profits of a years-long coal mining boom. Never underestimate the people’s power.\

Technologia

Elon Musk’s Neuralink receives fresh funding of USD650mil
Brain computer interface startup Neuralink closed a USD650mil funding round Series E on Monday, which included investors such as ARK Invest, Founders Fund, Sequoia Capital, and Thrive Capital, among others, valuing the company at around USD9 bil pre-money. In 2023, the startup raised a USD280mil Series D funding, with an additional USD43mil tranche added months later.

Neuralink is another one of Elon Musk’s baby (pun intended) that designs surgically-implanted brain-computer interface devices to let users control a computer or mobile device using their brain activity. The company says it has now conducted more human clinical trials, implanting its brain chips in five individuals with severe paralysis. In May, Neuralink received breakthrough device designation from the US Food and Drug Administration, a program intended to speed up development, assessment, and review processes for experimental technologies.
Learn: What is Pre-Money vs Post-Money Valuation

Bill Gates to Africa: Take my money
Bill Gates is determined that 'he died rich' will not be one of the things said about him after he died, and so he announced that most of his fortune will be spent on improving health and education services in Africa over the next 20 years. Gates announced last month that he would give away 99% of his vast fortune, which he expects to reach USD200 bil by 2045, which is also when his foundation planned to end its operations. Speaking to representatives of African nations, he urged young African innovators to think about building AI to improve healthcare on the continent, and believes that by unleashing human potential through health and education, every country in Africa should be on a path to prosperity. The Bill Gates foundation has a long history of operating in Africa, and this announcement was very much welcomed by African nations, which currently struggle with the US funding cuts that threaten important health programmes and raise concerns about the future of healthcare on the continent.

Shorts

1. USD105mil in reparations for America's 'hidden' massacre

   The city of Tulsa, Oklahoma, in the US is preparing to award its black community a USD105 mil reparations package to address the harms caused by the Tulsa Race Massacre of 1921, one of the largest and most violent racial attacks in US history. The funds include USD24 mil for a housing fund and USD60 mil for a cultural preservation fund focused on "reducing blight". The package is also the first large-scale plan that commits funds to addressing the impact of a specific racially motivated attack in the US. Tulsa’s Greenwood District was once a prosperous Black neighborhood, so economically vibrant it earned the nickname “Black Wall Street.” This prosperity was violently cut short in May 1921, when a white mob destroyed the community within 24 hours, burning over 1,000 homes and buildings, killing an estimated 300 Black residents, and injuring many more.

2. Italy’s Mount Etna shows its “natural beauty”

   In a stunning display of towering clouds of smoke and ash, Mount Etna in Sicily, Southern Italy (view on map here), erupted for the 14th time in recent months, albeit so far still safe and does not pose any danger to residents, as assured by the authorities. According to Italy’s INGV National Institute of Geophysics and Volcanology, the spectacle presented by Europe’s most active volcano was triggered when part of the southeast crater collapsed, resulting in a cascade of hot lava flows. The summit area is closed off nonetheless, while the lava flow had not breached the volcano’s natural containment area.

5. FOR YOUR EYES 📺

1. Remember the Pokémon Go hype about 10 years ago? The good ‘ol days. #throwback How about finding a real, big elephant inside a convenience store? Watch here.

2. Young people (15-29) in the US spent about four hours alone in 2010. In 2023, the number increased to six hours per day. Is the loneliness epidemic upon us?

3. Malaysia’s first K-pop idol - Alicia Wong Lingling - debuted on May 29 with girl group KIIRAS with their first single ‘Kill Ma Bo$$’. Watch the MV here - 4.2 mil so far!

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