☕️ Pickleball to be introduced in SUKMA 2026

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

47.8 mil Indonesians are now classified as middle class, a decline from 57.3 million in 2019, according to data from the Central Bureau of Statistics. Meanwhile, the “aspiring middle class” has increased from 128.85 mil to 137.5 mil. Economists attribute the middle-class decline to factors such as the lingering effects of COVID-19 and gaps in Indonesia’s social safety net. Despite steady economic growth of about 5% annually since the pandemic, Indonesia’s reliance on trade makes it vulnerable to global slowdowns.

2 mil people in England, or 4% of the population, are estimated to have ADHD, according to the Nuffield Trust. Once thought to primarily affect school-aged boys, ADHD diagnoses are now rising rapidly across all age groups, particularly in young and middle-aged women. The symptoms often overlap with those of autism, dyslexia, and other conditions believed to be linked to brain development. Overall, 10-15% of children display attention and information-processing patterns that align with ADHD, autism, or dyslexia.

72,300 people attended the Mike Tyson (58 y.o) vs Jake Paul (27 y.o) at the T&T Stadium in Arlington, Texas, with ticket sales totalling USD18 mil (RM80.42 mil), doubling the previous record for combat sports at the venue. According to Most Valuable Promotions (Paul’s promotional outfit) and Netflix, the match peaked with 65 million concurrent global streams, though at which point of the fight it occurred was not disclosed. Spoiler alert, Tyson lost. Fun fact — his last professional fight was 7,095 days ago (back in 2005) as of Nov 15, 2024.

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3. IN MALAYSIA 🇲🇾

Putrajaya did consider removing the packet cooking oil subsidy
During the Economy Ministry’s 13th Malaysia Plan (13MP) engagement session in Kelantan, Economy Minister Rafizi Ramli stated that the Cabinet did consider removing the subsidy on the packet cooking oil, in order to address leakages issues such as - the packet oil being smuggled to Thailand or being used for commercial purposes. The subsidised packet cooking oil at the moment, can only be used for household use. In 2022, Putrajaya allocated RM4 bil to subsidise the 1kg polybag of cooking oil. The Federal Government has yet to announce a decision to retain or remove the subsidy on cooking oil.

With a slew of subsidy rationalisation launched or in the pipeline, BNM projected an inflation rate of 2% - 3.5% in 2025. The projected inflation rate is higher than the core inflation rate recorded year-to-date, averaging 1.8% and is expected to remain modest for the remainder of the year. Core inflation is the change in the costs of goods and services, but it does not include those from the food and energy sectors. This measure of inflation excludes these items because their prices are much more volatile.

They never learn, do they?

• VIP escort in the spotlight again - Bukit Aman Traffic Investigation and Enforcement Department (JSPT) director Comm Mohd Yusri Hassan Basri announced that Bukit Aman is investigating an accident involving a civilian vehicle and a police vehicle, which was escorting a VIP at KM259 of the North-South expressway. In the dashcam recording (watch here), the VIP escort vehicle was seen to be driving recklessly fast in the rain, ramming into the behind of a Proton Saga, which led to the driver of the car screaming and a child crying.

• Another incident in Samalaju - The Samalaju Industrial Park in Bintulu, Sarawak that was launched in 2008, which has attracted RM111.73 bil in investments to date, is no shy of tragic incidents. In the latest incidents in the series of events that tainted the safety record of the industrial park, yesterday, a factory furnace workshop suffered an explosion. Fortunately, no casualties or injuries were reported. According to the owner of the factory, OM Materials stated that the explosion was caused by an overflow of molten material from casting moulds.

Business

1. BNM deputy governor Adnan Zaylani Mohamad Zahid announced that the central bank will be more liberal, by allowing international financial institutions to issue ringgit-denominated bonds and sukuk in the country without getting permission from BNM first. This is a good opportunity for Malaysia to be positioned as the preferred destination for a diverse group of investors, especially from Organisation of Islamic Cooperation (OIC) countries. In 1H2024, USD45.2 bil has been issued in Malaysia's Debt Capital Market (DCM), a slight 8.3% drop year-on-year, due to fiscal consolidation (in simple terms, reduction of deficits and debt).

2. After more than five decades, finally, 24-year-old Sandra Lim Shue Hui broke the curse by making it to the top 30 in the Miss Universe competition (watch Sadra’s moment here) held in Mexico. The first and last time Malaysia made it to the top was in 1970, represented by Josephine Lena Wong. Denmark’s representative, Victoria Kjaer, was named  Miss Universe 2024, the first time a representative from the country was crowned champion. Sandra’s IG page here.

3. Following the footsteps of Sarawak, Sabah’s Parti Kesejahteraan Demokratik Masyarakat (KDM) listed establishing Sabah’s own bank and airline as the two additional manifestos for the upcoming state election. KDM announced its intention to contest in the 17th state election independently, targeting between 30 to 35 seats. At the moment, KDM holds two seats (Kota Marudu and Tenom) in the 79-seat Sabah State Legislative Assembly.

4. Selangor Mentri Besar Amirudin Shari announced that the T20 favourite sport, after golf, of course, pickleball to be introduced as a medal sport in the 2026 Malaysia Games (Sukma). Amirudin justified the introduction of the sport by stating that pickleball is gaining popularity locally and globally, with an additional 100 million new players expected in the next five years. To bring up the hype for pickleball before Sukma 2026, Selangor will allocate RM1 mil to construct more pickleball courts and host the Selangor Pickleball Festival, including the Selangor Pickleball International Open Championships.

4. AROUND THE WORLD 🌎

As Trump prepares for office:

1. Iran sent a letter to US saying that they won’t kill Trump

   In its effort to cool down tension with Washington, Iran has recently sent a letter to Biden’s administration, assuring that it would not seek to kill President-elect Donald Trump as the Republican prepares for his return to the White House. The letter, delivered on Oct 14 was a response to a privately written American warning sent to Tehran in September, where it reflected the administration’s public message that it considered the threats against Trump a top-tier national security issue and that any attempt on his life would be treated as an act of war. Apparently, Iran has long vowed revenge against Trump for his decision to order the Jan 2020 US drone strike that killed Qassem Soleimani, leader of the Quds Force, the group responsible for Iran’s covert military operations abroad. However, Iran has dismissed claims in recent days that it was trying to assassinate the former president.

2. Trump goes on a legal warfare with media outlets seen biased against him

   It appears that Trump is infamous for his long-standing hostility against the media – which he called “the enemy camp” in his victory speech last week. The latest is his flurry of lawsuits against media companies and publishers that have been critical of him. Among the sued media companies are Columbia Journalism Review, New York Times, Penguin Random House, Daily Beast, CBS News and The Washington Post (owned by Amazon founder Jeff Bezos). The lawsuit demands monetary settlements amounting to various amounts up to USD10bil for damages over articles publicly criticising him, as well as demands to correct certain statements. The Committee to Protect Journalists (CPJ)  has called Trump’s threats against the press a “clear and direct danger to media freedom”, adding that the hostile media climate fostered in his first presidency is expected to continue in his forthcoming second term, which will pose great risks to media inside and outside the country.

About China:

1. 8 people killed in another deadly attack in eastern China

   A stabbing attack has occurred at the Wuxi Vocational Institute of Arts and Technology in Yixing County, China, believed to have been done by a former student who was meant to graduate this year but had failed his exams. The police said that the perpetrator had returned to the school to express his grief and anger by committing the murders. The attack killed 8 people and left 17 wounded. The incident came within a week after a man drove his car into people at a sports facility in the southern city of Zhuhai, leaving 35 people dead and injuring 43 others.

2. Biden and Xi agree that humans, not AI, should control nuclear arms

   The US and China are both in the race to take the helm of the AI and nuclear industry, but at least, US President Joe Biden and Chinese President Xi Jinping have one thing they agree upon: human beings, not AI, should make decisions over the use of nuclear weapons. In their meeting at the APEC Summit in Lima, Peru, the two leaders also stressed the need to carefully consider the potential risks and develop AI technology in the military field in a prudent and responsible manner. Both countries have never really engaged in progressive talks over AI and nuclear, with stalled negotiations over nuclear arms in November and a formal bilateral talk regarding AI that never really addressed nuclear weapons decision-making. Could this mark a first-of-its-kind step between the two countries in the discussion of these two elusive issues?

A woman decided to stop phone-snubbing, and it changed her relationships for the better
Living in the age of hyper-connectivity means that we have grown so attached to our devices, in the name of making social connections. But are these connections actually genuine? Author of the book The Unplugged Hours and TED Talk speaker, Hannah Brencher, realised that the constant presence of our phones in daily life—a new term known as ‘phubbing’ or ‘phone snubbing’—is beginning to diminish meaningful conversations and the vital feeling of being closely connected.

To reclaim her time and energy and re-establish real connections with people, Brencher decided to commit to 1,000 hours of unplugged time over the course of the year. Among the many things she learned from her downtime includes the realisation that with an offline, genuine relationship, it is easier to show vulnerability and stay true to herself. Vulnerability is the feeling of being seen and known, even when things are unresolved and imperfect. She found that this kind of vulnerability can’t be fully practised online and requires us to take off the mask, remove the filters, and be face-to-face.

Shorts:

1. TikTok ByteDance's valuation hits USD300bil amid US ban uncertainty

   Despite the prospect of a ban in the US, TikTok is still thriving. Its parent company ByteDance has recently valued itself at about USD300 bil after a recent buyback offer of about USD180 a share. A law signed by US President Joe Biden on Apr 24 this year gives ByteDance until Jan 19, 2025, to sell TikTok or face a ban. However, investors are optimistic about the new President-elect Donald Trump’s return to the White House, who despite previously calling TikTok a “national security threat”, is now on the platform himself.

2. Bangladesh deaths from dengue cross 400 as outbreak worsens

   Climate change is also increasing the risk of spreading diseases, as witnessed by Bangladesh. The country is currently battling its worst outbreak of dengue in years, with more than 400 deaths amid rising temperatures and a longer monsoon season. At least 407 people have died from related complications in 2024, with 78,595 patients admitted to hospitals nationwide. Dense populations in the cities also exacerbate the spread of the disease, leaving its hospitals overwhelmed with the influx. Shifting weather patterns caused by climate change provided optimal conditions for the Aedes aegypti mosquito, the primary carrier of the disease, to breed. 

3. Thailand will legalise casinos next year, attract global players and more foreign investments

   Giant gaming companies like Galaxy Entertainment Group Ltd and MGM Resorts International are having their eyes on Thailand, which is set to legalise casinos next year.  The government is working to get an “entertainment complex” bill, which will allow casinos to be housed within large venues. Thailand can emerge as a major player in the global gaming industry if casinos become fully operational about six years from now. Its gross gaming revenue could reach USD9.1 bil (RM40.74 bil) when fully ramped, which would make it the third-largest market in the world behind Macau and Las Vegas and ahead of neighbouring Singapore.

5. FOR YOUR EYES 📺

POV Day

1. A very interesting POV recorded on GoPro - from the perspective of a firefighter right in the middle of a fire breakout.

2. Drone POV capturing the moment brave workers scale the heights of Petronas Twin Towers for maintenance. Work of aerial travel photographer Siva Kumar (IG: siva_wwc).

siva_wwc

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