☕️ MEX II highway corruption case enters new chapter: The Court

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Women, Family, and Community Development Minister Nancy Shukri continues to call for women aged 35 to 65 who are still sexually active to undergo early cervical cancer screening. According to the minister, 162,581 women have undergone testing between 2019 and 2024, with 45,313 of them coming from Sarawak. Early detection not only reduces infection rates – if identified at an early stage, the disease can still be treated and cured. The ministry is intensifying efforts to raise awareness of women’s health, particularly cervical cancer. Some efforts include nationwide screening programmes, education campaigns, and establishing a mobile screening initiative, which allows women to perform self-screening similar to a COVID-19 test.

Meanwhile, Bersatu Women chief Mas Ermieyati Samsudin urged Bersatu to be more like DAP when it came to empowering women leaders. At the recent Bersatu Women’s AGM, she pointed out that DAP provided opportunities to many women leaders, with the Pakatan Harapan component party fielding many female representatives in Parliament. According to Mas Ermieyati, 25% of DAP MPs are women, while Bersatu only has one out of 25 – Mas Ermieyati herself, who is also the MP for Masjid Tanah. She called for Bersatu women to not be treated as merely filling quotas but instead as “catalysts to victory”.

According to Universiti Kebangsaan Malaysia’s senior lecturer in transport engineering, Klang Valley motorists are spending more than 580 hours a year stuck in traffic – about 24 full days – costing an estimated RM9,000 a year in vehicle maintenance and fuel expenses. Data collected from a recent study showed that the average motorist spends about 135 minutes daily in traffic, a significant loss of productivity. The lecturer, Ahmad Nazrul Hakimi Ibrahim, called for a more integrated and sustainable solution to traffic congestion, saying it should not be viewed as merely a transportation problem anymore. A recent study by the National Bureau of Economic Research found that remote work could reduce commuting time by up to 69 minutes a day while improving worker productivity.

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3. IN MALAYSIA 🇲🇾

MEX II highway corruption case enters new chapter: The Court
“Faham. Tidak Bersalah (Understood. Not guilty.)” was Maju Group director Abu Sahid Mohamed’s response to the charges levelled by the Sessions Court. Abu Sahid faces 4 counts of criminal breach of trust (CBT) activities (amounting to RM313 mil), as well as 13 counts of money laundering charges amounting to RM139 mil - all of them linked to a proposed highway project. This proposed highway project is in fact the unfinished MEX II, designed to connect Putrajaya to KLIA. He rolled into court in a motorised wheelchair - watch here. Optics matters.

Meanwhile, Abu Shahid’s wife Noor Azrina Mohd Azmi, who also serves on Maju Group’s board of directors, is also facing a criminal charge of laundering over RM67 mil in funds. Noor Azrina has been accused of receiving the funds from her husband into her personal bank, with the belief that the funds are proceeds from illegal activities. Her response to the Session Court? "I understand (the charge). I plead not guilty,".

It was not the end of the road for this highway-related scandal however as former MEX II Sdn Bhd director Yap Wee Leong was also charged by the Sessions Court with 17 counts of falsifying documents linked to the proposal of the MEX II highway, with claims amounting to over RM314 mil. His response to the Sessions Court’s charges? Not guilty.

Medical insurance inflation comes biting T20
According to Health Minister Dzulkefly Ahmad, higher insurance premiums was one main reason the T20 group has turned to public hospitals to seek treatment. “If insurance premiums, whether conventional or takaful, continue to rise, even the T20 may reconsider (continuing) their policies, not only the M40. That is why it’s very important to mitigate and control insurance costs,” Dzulkefly said.

The Health Minister also stressed the need for cooperation between insurance companies, takaful operators, Bank Negara and private medical providers to address medical inflation. While public hospitals are open to all Malaysians, the issue of wealthy individuals seeking treatment there merited study.

In response to the Dzulkefly’s statement, the Federation of Malaysian Consumers Associations described the current healthcare trend as a “red flag” as it indicated healthcare costs were getting out of hand. Meanwhile, Consumers’ Association of Penang president Mohideen Abdul Kader noted that Malaysia’s medical inflation has been among the highest in Asia, with insurance costs rising faster than wage growth.

What’s behind this persistent medical inflation? Bad actors mostly.

Bersatu says Muhyiddin for PM, but PAS says hold your horses
Bersatu has endorsed its president Muhyiddin Yassin as its candidate for the 11th Prime Minister. Despite the “unanimous support” (amidst some “minor disagreements) given to Muhyiddin at the 8th Bersatu annual general meeting, it seems that Bersatu still has yet to win over the support of its coalition partner, PAS.

Kedah Menteri Besar, as well as Perikatan Nasional and PAS election director Sanusi Nor said that Bersatu cannot make such decisions on its own without the consensus of its coalition partners in PN, with the seat allocation for the Sabah state election being one such example. Meanwhile, prominent PAS member (as well as former UMNO member and minister) Annuar Musa said that under the current political landscape, no single party is capable of forming the government by itself, and as such would need to cooperate with others.

As a reminder, PAS is still the biggest party within the PN coalition, holding 43 parliamentary seats, while Bersatu only holds 25 seats. Furthermore, PAS had once proposed Terengganu Menteri Besar Dr. Samsuri Mokhtar as a potential Prime Minister candidate due to his credentials as a technocratic leader.

In any case, the jury’s still out on who will become PN's Prime Ministerial candidate should PN win GE16. If the mention of GE 16 has got you excited, read this interesting write-up by veteran politician Liew Chin Tong.

Shorts

1. Future of self-driving vehicles in the making in Malaysia
   Malaysia’s roads may be bracing itself for driverless cars as Digital Minister Gorbind Singh Deo indicated that his ministry has initiated discussions with the Road Transport Department (JPJ) to develop a dedicated legal framework for driverless vehicles within the country. Such a transition would require early preparations across multiple areas, such as safety standards, digital infrastructure, and data protection. Tesla recently released its Full-Self Driving (Supervised) feature in Australia (which is also right-hand drive like us) - watch here. Tesla sells this feature (which it wouldn’t even allow for use in Malaysia) for RM32k.

2. Government vows crackdown on SARA aid-related profiteering claims

   According to Finance Minister II Amir Hamzah Azizan, the ministry has taken note of several social media posts claiming that a small group of traders had increased the prices of goods, and will not compromise with any party that tries to undermine the benefits brought by the Sumbangan Asas Rahmah (SARA) Appreciation Aid. Since SARA’s implementation on August 31, the initiative has benefited more than 11.8 mil people, with total spending reaching close to RM746 mil nationwide.

   PSA: If you see any profiteering attempts, lodge your complaint here , via WhatsApp at 019-848 8000 or the call centre at 1-800-886-800

3. High Court: Government to pay teenager RM2.28 mil for botched baby delivery

   The KL High Court has ordered the government to pay more than RM2.28 mil in damages to a teenager who suffered irreversible brain damage (or to be more accurate, severe cerebral palsy), due to medical negligence during his birth at Kuala Lumpur Hospital 15 years ago. In his ruling, Judicial Commissioner Gan Techiong decided that the government was liable for the negligent actions of a junior medical officer and the then-head of the hospital's Obstetrics and Gynaecology Department. What’s truly tragic is that medical data indicated that the teenager’s chances of survival beyond the age of 29 were only 26%, as opposed to an earlier claimed projection of 44 years.

4. AROUND THE WORLD 🌎

Trump eyes Gaza deal soon
The US President, after issuing his “last warning” to Hamas, told reporters that he expects a Gaza deal to come soon that would secure the release of all the hostages held by Hamas. In a statement after the “last warning”, Hamas reiterated its readiness for negotiations to release all hostages in exchange for a “clear announcement of an end to the war” and the complete withdrawal of Israeli forces from the enclave. This also follows Israel's announcement that it has accepted a Gaza ceasefire proposal, with Israeli Foreign Minister Gideon Saar saying that Israel was ready to accept a full deal ending the war, but would require the release of hostages and for Hamas to lay down its arms.

Regional affairs

Indonesia detains Gojek founder as graft case suspect
Investigators named Nadiem Makarim, former education minister and co-founder of ride-hailing firm Gojek, as a suspect in a corruption case about alleged improper laptop procurement, with authorities reporting he had been detained. He stands accused of involvement in the procurement of Google’s Chromebook laptops for use at his ministry and by students, thus misusing his authority to enrich himself or a company, in violation of Indonesia’s anti-corruption laws. Investigators estimate the case had cost Indonesia USD121.9 mil in losses. Prior to his detainment, investigators found Makarim had issued a decree containing procurement specifications that matched only the Chromebook. Makarim had also met representatives of Google Indonesia six times before the decree was issued. GoTo Gojek Tokopedia’s office was also raided, though authorities did not provide further details.

New Thai PM set on growth, handling border crisis
Mere days after taking power, new Thai Prime Minister Anutin Charnvirakul has signalled he intends to repair a struggling economy and calm border tensions with Cambodia. This came in the form of his first cabinet appointments, which saw a veteran economist with deep government experience tapped to run the finance ministry, while a well-respected former diplomat was named to lead the foreign ministry. Analysts also believe Anutin’s administration may push short-term stimulus measures to boost spending, including repackaging projects lined up by the outgoing Pheu Thai government. Anutin was a former interior minister who won a parliamentary vote last Friday with an overwhelming majority, though he has to call an election after four months.

Money talks

Chinese robotics firm eyeing USD7 bil IPO valuation
You know the Chinese company that creates crazy moving humanoid and robot doggos? They are going IPO. Unitree Robotics reported it was actively advancing its IPO preparations and expects to submit the listing application documents in the fourth quarter of 2025. Should the IPO be successful, Unitree Robotics would be one of the biggest and highest-profile onshore tech listings in years, and would come at a time when Beijing is stepping up efforts to support its tech champions. Some details are missing, namely, when Unitree plans to list and how much it is aiming to raise from the IPO. The firm’s latest funding round saw new backers for Unitree, including tech giants Alibaba and Tencent, as well as automaker Geely. They actually have a rather interesting range of robotics, which you can check out here.

Starbucks stirs up bidding war for China unit
Sources shared that most of the bidders looking to buy a stake in Starbucks’ China operations have submitted offers that value the business at as much as USD5 bil. The USD5 bil quotation, if accepted, would make the deal one of the most valuable China unit divestments by a global consumer company in recent years. These offers would enable Starbucks to proceed with the sale, considering it faces sluggish economic growth and stiff competition from local brands. However, as of last month, there has been no clear indicator as to the size of the stake on sale. Even Tencent is in the running to acquire the company.

Shorts

1. Giorgio Armani to be laid to rest in private funeral
   The funeral of legendary Italian fashion designer Giorgio Armani was only open to family and close friends. He was buried in a family chapel in Rivalta, next to his parents and older brother. As a mark of respect, Armani stores closed for the afternoon. He passed away last week at the age of 91 and was buried on Monday. He left behind no children, but worked with a trusted group of family members and long-term confidants who are expected to carry on running the business. His death raises big business questions - read here.

2. Nasdaq makes push to launch trading of tokenised securities

   The exchange is the latest major financial player on Wall Street to hop on the tokenisation trend and the rising demand from investors worldwide. Nasdaq is working with US regulators to introduce the trading of tokenised securities – tokens tied to stocks and ETPs – which would mark the first instance of tokenised securities being allowed to trade on a major US stok exchange if it is approved.

   Learn: What is tokenised security? 

5. FOR YOUR EYES 📺

1. KPop Demon Hunters meet drone show.

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2. “Foreign aid is taking money from the poor people of a rich country and giving it to the rich people of a poor country” - Ron Paul, former US Congressman.