☕️ Middle East conflict impacting your electricity bills

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

130 bil tokens – OpenAI used 10,000 concurrent agents and that many tokens’ worth of compute to solve a 90-year-old set of mathematical formulas that can predict how liquids and gases move. The formulas were so complicated that the Clay Mathematics Institute offered a USD1 mil (RM4.04 mil) prize to any mathematician who finds the solution. OpenAI admitted that finding the solution required a lot of resources, with its coordinating AI agents sending 2.7 mil messages over 88 hours to reach a resolution, with verification taking another 17 hours. The 130 bil output tokens alone would cost about USD6.5 mil at OpenAI’s average consumer price, according to an LLM evaluator on X. Including the implied “trillions of input tokens”, the total could reach between USD10 mil and USD40 mil. OpenAI’s claimed solution has also drawn criticism after mathematicians Tristan Buckmaster and Levent Alpöge raised questions about how OpenAI used their related research data to train its models. Buckmaster’s statement on the matter can be read here.

9.28% – According to the Energy Commission, data centres account for that much of Malaysia’s total electricity consumption. Power demand from data centres is also expected to increase in the fourth quarter, as there are a few data centres that are expected to come online or become operational in Nov. According to Energy Commission CEO Siti Safinah Salleh, there will be no specific limits on electricity usage by data centres, as approvals were based on the power system’s available capacity.

SGD3.6 mil (RM11.44 mil) – The Singapore Parliament has accepted the recommendations of an independent committee to sharply increase ministerial salaries, with the Prime Minister’s salary to reach that amount annually (about SGD300,000 a month), while a junior minister would now earn up to SGD1.8 mil (RM5.72 mil). However, the increase will start with a one-off adjustment of up to 9%, with any further increases dependent on a minister’s individual performance and responsibilities. Current PM Lawrence Wong will also be donating the full increase in his salary to charity over the next five years, totalling about SGD1.4 mil. Even before the increase, Singapore’s ministers were already the highest-paid in the world, with a junior minister earning SGD1.1 mil (RM3.49 mil) annually and the Prime Minister earning SGD2.2 mil (RM6.99 mil). These salaries have remained unchanged since 2012, when pay was cut by 36% to address public concern. High ministerial salaries remain a sensitive issue among Singaporeans, where the median monthly income as of 2025 was SGD5,775.

3. IN MALAYSIA 🇲🇾

NS Game of Thrones continues
After his executive councillors (EXCO) issued a statement to dethrone the incumbent Yang di-Pertuan Besar, the Negeri Sembilan Menteri Besar Ismail Lasim went further to nudge the alleged keris of betrayal by instructing the state secretary to proceed with gazetting the removal of Tuanku Muhriz Tuanku Munawir as Yang di-Pertuan Besar, despite the Dewan Keadilan dan Undang (DKU) saying the state executive council has no jurisdiction to determine the ruler’s position.

For those who missed the story, previously, the EXCO’s announced that Tuanku Muhriz’s removal in Apr was legitimate and that Tuanku Nadzaruddin Tuanku Ja’afar was the new ruler of Negeri Sembilan. Then, in response, the Negeri Sembilan Council of the Yang di-Pertuan Besar and the Ruling Chiefs (Dewan Keadilan dan Undang; DKU) reaffirmed that Tuanku Muhriz is still the rightful ruler and even accused the EXCOs’ action as an act of treason and attempted a coup d’etat to the sitting ruler. DKU is an advisory body on customary affairs and the appointment and removal of the Yang di-Pertuan Besar.

Economy Minister: Middle East conflict impacting your electricity bills
Economy Minister Akmal Nasrullah said that the global energy supply disruptions that started with petrol have now shown a lagging effect, which spreads to natural gas and coal. In return, disruptions in natural gas and coal supply have started to impact the cost of electricity generation. FYI, natural gas and coal generate about 55% of the electricity globally, and roughly 80% of Malaysia’s electricity needs. The impact of higher electricity generation costs is felt especially by households that use more than 600 kilowatt-hours (kWh). At the moment, 600 kWh is the cutoff threshold for government electricity subsidies. Once a household crosses this line, they lose their ‘subsidy shield’. They are hit with a triple financial penalty, which includes higher base tariff rates, the full Automatic Fuel Cost Adjustment (AFA) surcharge, and, of course, the 8% SST on top of the bill.

Fortunately, PM Anwar Ibrahim announced that Putrajaya will raise the electricity bill protection threshold for domestic consumers from 600kWh to 800kWh per month, until the end of the year. Under the revised measure, domestic consumers using up to 800kWh a month will be exempted from the Automatic Fuel Cost Adjustment (AFA), retail charges, and sales and service tax (SST).

Shorts:

1. Malaysia now has a new MyKad
   NexG Bhd, the producer of the new MyKad, announced that the new identification card is the world’s first to combine biometric QR identity verification with an optional digital eWallet. The eWallet component is an optional value-added service, being provided at no cost to the government or citizens as part of its 27-year partnership with the government. In related news, Home Minister Saifuddin Nasution Ismail added that the new MyKad comes with about 50 additional security features. You can see more in the video here.

2. Putrajaya to give Sarawak RM1.5 bil interim special grant
   During the Malaysia Day celebration, PM Anwar announced that Sarawak will receive an increased special grant of up to RM1.5 bil this year, far higher than the RM600 mil Kuching received last year. The special grant formula from Putrajaya to Sarawak is still being finalised, and Sarawak Premier Abang Johari Openg suggested it should be between 5% and 10% of federal revenue. In 2024, the federal revenue is roughly RM312 bil, so 5 - 10% would work out to something between RM21 bil to RM31 bil. That is more than ten times the RM1.5 bil Sarawak is about to receive this year. That’s a hard meet-in-the-middle negotiation.

3. Piranha in Pahang?
   Fisheries director-general Adnan Hussain stated that there is no evidence that a piranha population has established itself in Klau Dam, Pahang, despite claims that a piranha was allegedly caught there. He said that the fish caught had characteristics consistent with the Pygocentrus genus, which includes piranhas. However, the department said it could not conclusively identify the species as there was no physical specimen available for examination. He added that the public need not panic as there is no further evidence that a piranha population is brewing in Klau Dam.

4. AirAsia stocks are not flying anytime soon
   AirAsia Group Bhd fell on Thursday to the lowest in nearly four years, as much as 14 sen to 50 sen. Shares of AirAsia have lost more than 70% of their value since the year began as the airline grappled with soaring jet fuel prices amid the prolonged Iran War. As of Sept 17, the company has a market capitalisation of under RM1.7 bil. Previously, it was rumoured that Putrajaya had asked Malaysia Airlines and Batik Air whether they could absorb AirAsia’s domestic market share.

4. AROUND THE WORLD 🌎

In the US
US Fed raises rates to tackle skyrocketing inflation
The US Federal Reserve has raised interest rates for the first time since 2023, citing the need to combat inflation that has been "too high" for "too long" in the country. The Fed's Federal Open Market Committee voted unanimously to raise rates by 25 basis points to between 3.75% and 4.00%. The vast majority of Fed policymakers indicated that at least one more rate hike was likely necessary before the end of the year, according to their Summary of Economic Projections (SEP). Trump is not happy - he called it "a raise against Trump" and accused the Fed's rate-setting committee – which he called "hostile" – of making decisions for political reasons. Meanwhile, US households and businesses have been battered by years of higher-than-target inflation, and prices have surged in the wake of Trump's war on Iran, his signature tariff policies and the ongoing AI boom.

Amazon's Project Mercury could reshape how America shops
Amazon is set to roll out a billion-dollar expansion of its same-day delivery operations - codenamed Project Mercury. The project will widen its fulfilment network to more than 1,000 locations by 2031, an increase of more than tenfold from the roughly 85 facilities the company operates today. Amazon internal planning documents show that the project would place same-day delivery hubs within 10 miles of 80% of the US Prime subscribers. The project is believed to reshape how Americans shop for everyday items such as fresh food, paper towels, and cough medicine. Currently, Walmart is the one dominating the valuable market, but it now sounds like Amazon is catching up real fast.

Ed Sheeran: No more Mr Nice Guy?
Ed Sheeran exudes a simple persona and “everyone is welcome” public image. However, this week, Sheeran was the undisputed bad guy as the world erupted over his decision to drop fellow musician Macklemore from his tour opening act. This came after the rapper made a speech saying, "Free Palestine" and showing images of the destruction in Gaza. Macklemore was originally criticised by Pink, who said Macklemore’s anti-genocide speech was an attack on Jewish people.

Sheeran said the decision was made by the promoters, after they were contacted by billionaire owner of the New England Patriots, Robert Kraft, who owns one of their next venues. Kraft is also a long-time supporter of Israel and was implied to have asked for Macklemore’s removal or for the artist to stop opposing Israel during the tour. Not long after Sheeran’s statement, all of Sheeran’s support acts and even his own band pulled out of the remaining shows, voicing solidarity with Macklemore and free speech.

Sheeran, in his statement, said he was not complicit and that he never uses his professional platform for politics. But fans were quick to point out his many involvements before: Sheeran once wore a "justice for Grenfell" T-shirt at Wembley Stadium in 2018 after the Grenfell Tower fire, played the Concert For Ukraine in 2022, and recorded a protest song about the Ukraine war with U2 earlier this year.

Sheeran was called out by his supporting acts, Miss Rachel, Greta Thunberg, Kneecap, Kehlani, Bob Vylan, and a bunch of other public figures. He has lost over 200,000 followers on Instagram within the first 48 hours of his statement.

Should have handled it better, Sheeran. Saw this comment: Sheeran was too scared to end his stadium contracts, so he ended his career instead.

Shorts:

1. Japan set to tighten prostitution laws
   Japan is planning to amend its decades-old prostitution legislation, following a recommendation from a panel of legal experts to punish solicitors instead of just the sex workers. Currently, street sex workers face fines or imprisonment for public solicitation, but their customers face no punishment, making Japan different among developed countries. The panel calls for the abolition of this “asymmetry”, with some campaigners demanding a “Nordic model” that decriminalises selling sex while criminalising paying for it. Besides, the concept of free will in sex work is a myth given that compounding difficulties like poverty, trauma and disability push many women into the trade.

2. HIV plagues Fiji
   The Pacific country of Fiji has declared a national HIV crisis as it grapples with the spread of the virus through sexual transmission and illicit drugs. An estimated 1 in 60 adults is infected with HIV, with new diagnoses surging to 2,016 cases in 2025 – 16 times the level recorded in 2019. Two in every 100 pregnant women carry the virus, and of the 59 babies born with HIV in 2025, 18 died before their first birthday. The government said it was expanding access to free HIV testing, prevention services and treatment and is receiving external support from Australia, New Zealand, India, the Global Fund and the United Nations.

3. NASA discovers new massive Moon crater
   A NASA researcher has discovered a massive, newly formed crater on the Moon through NASA’s Lunar Reconnaissance Orbiter (LRO) camera, believed to be the largest new crater ever discovered in the solar system. Scientists said that the occurrence only happens "once in a century or even longer”, and it was probably created in the spring of 2024 from a comet or asteroid colliding with the Moon. While the Moon has numerous bigger craters, researching a crater's formation in real time can help build understanding of the Moon's geology. See image here.

5. FOR YOUR EYES 📺

Protect your kids, nephews, nieces, grandkids, friends’ kids

1. Sex education - but for parents. In this digital age, you can never prevent your child from coming across porn.

2. Safety awareness: Kids and escalators don’t go well.

3. Not an image, but a read on the recent judgement of the teen who was acquitted of murder. Written by a doctor who worked at the country’s largest psychiatric hospital, Hospital Bahagia Ulu Kinta, Perak. A bit heavy to end the week, but it’s good to set emotions aside to understand the process more. Have a good weekend folks!