☕️ Muhyiddin tastes his own medicine

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

The highest bounty ever offered in Malaysia comes up to RM101,100, and it was the prize money listed for information on the brutal skinning of a female dog named Biao Mei in Melaka. The amount was raised through public donations. Photographs and videos of Biao Mei as she was skinned alive were first posted on social media on August 16. The stray was rushed to a vet, but had to be euthanised due to severe infection and the extent of her injuries. Several animal rescue groups have submitted a memorandum to Istana Negara, seeking the attention of His Majesty Sultan Ibrahim. May the inhumane perpetrator be caught soon.

Meanwhile, India is facing a different kind of stray dog problem, where the country has no clue just how many strays it has. The concern comes from how the country has been recording more dog bite cases over the past few years, with the Indian Ministry of Health’s data showing that 3,715,713 cases were reported in 2024. Further issues here are that dog bites account for 99% of rabies fatalities there, and India contributes 36% of global rabies deaths, according to the World Health Organization. However, India reports rabies deaths of below 100 per year across the nation, leading to experts questioning those numbers.
Learn: What is rabies?

Locally, police have arrested 11,864 individuals connected with online scam cases in recent years, the culmination of investigations into 31,949 scam cases, with authorities successfully recovering RM1.5 bil (nice big number, but what’s the recovery rate like?). This has led to praise for the police force from Home Minister Saifuddin Nasution Ismail. Still, Nasution believes the number of arrests made has sent a clear message that national security is no longer about physical borders, but extended to data protection, digital sovereignty, and cyber awareness. As such, he called for stronger collaborative efforts in the face of cybercrimes, noting that combating cybercrimes also safeguarded the national economy.

3. IN MALAYSIA 🇲🇾

Muhyiddin tastes his own medicine
It was a deja vu moment for former PM Muhyiddin Yassin, but this time, he was at the receiving end after there was an attempt by a certain faction within the Bersatu party to remove him as the party’s president via signature, also known as a statutory declaration (SD). In response to the alleged attempt to topple him, Muhyiddin told the audience during the party’s annual general meeting (AGM) that the act was unlawful and went against the party’s constitution. After his speech, a war of words broke out when the majority of the delegates chanted ‘Kekal presiden’ and ‘Hidup Tan Sri’, while some shouted ‘letak jawatan, Muhyiddin’ (view incident here). This chain of events hinted at underlying friction within the party just as it prepares for GE16.

Okay, let’s dive into some history lessons and revisit how Muhyiddin has attempted to use ‘signatures’ or ‘statutory declarations’, in his favour:

Using SDs to become PM again - In August 2024, Muhyiddin provided 115 SDs, which were allegedly signed by MPs who backed him to become the PM again. The 115 SDs consisted of 74 SDs from Perikatan Nasional, Gabungan Parti Sarawak (22), Gabungan Rakyat Sabah (six), 10 Barisan Nasional MPs, two independents, and one from Parti KDM. Muhyiddin claimed the SDs should be sufficient to appoint him as the PM after GE15, as no single party or coalition won the election outright. However, then-King, Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah, eventually appointed Anwar Ibrahim as the prime minister after the latter cobbled together a unity coalition of all Malaysian parties outside of PN.

Collecting SDs to cement his position as the then-PM - During his tenure as the eighth PM, former PM Muhyiddin Yassin has been collecting SDs, such as from former PKR lawmakers, such as Julau MP Larry Sng Wei Shien and Tebrau MP Steven Choong Shiau Yoon, to solidify his position as the PM in 2021.

So, to Muhyiddin, what goes around comes around in life. Unless you are Tun Dr Mahathir, then the phrase should be what goes around, comes around, and then the wheel of life does a U-turn.

Putrajaya vs TikTok, Meta
Communication Minister Fahmi Fadzil has lambasted social media operators such as Meta and TikTok for failing to act proactively in addressing key issues such as scams and cyberbullying. As for TikTok, Fahmi revealed that the company failed to add more Tamil content moderators after the cyberbullying incident that happened to Rajeswary Appahu. Additionally, a lot of individuals under the age of 13 are still able to open accounts on TikTok, which is against the policy guidelines of TikTok itself. On a related matter, Fahmi stated that the Online Safety Act (ONSA) 2024 will be enforced from October onwards. ONSA is designed to regulate online platforms and protect users from digital harm by imposing duties on service providers and defining ‘harmful content’.

The state of trains

KLIA Aerotrain is still problematic even after undergoing maintenance
Malaysia Airports Holdings Bhd (MAHB) MD Mohd Izani Ghani reassured passengers that the KLIA Aerotrain is safe to use, even after the aerotrain briefly lost power, barely days after a scheduled two-week maintenance involving all contractors. According to the aerotrain’s project coordination lead, Alstom, the cause of the aerotrain’s power outage was due to a dislodged current collector device (CCD). Despite the minor glitch, Mohd Izani said that the aerotrain’s operational service indicators showed significant improvements since its relaunch in July 2025, with the aerotrain recording an overall operational service availability of 97.27%, rising to 99.93% in August.

Prasarana’s improving service performance
Perhaps MAHB should look at Prasarana on how to be better, as the service performance of rail operations under Prasarana has improved significantly, with only 24 disruptions recorded as of July this year. Mind you that Prasarana operates and manages LRT and MRT networks, including Kelana Jaya Line, Ampang Line, Sri Petaling Line, KL Monorail, MRT Kajang Line and MRT Putrajaya Line. As of July, Prasarana recorded a Mean Kilometre Between Failure (MKBF) of 0.54 million kilometres. As a basis for comparison, for the entirety of 2024, the recorded MKBF was 0.33 million kilometres, with 71 disruptions, whereas in 2023, it was only 0.16 million kilometres, with 118 disruptions.

4. AROUND THE WORLD 🌎

Trump World

Introducing the Department of War
The US Department of Defense’s has been given a new name - the “Department of War”, as per an order from President Trump who wanted to shift away from the “woke” ideology within the department. Trump said that given the US history of winning “everything” before and between WW1 and WW2, the previous name sounds “politically correct” and it's time to change. He also said that the change would beckon a new age of military victory. Also, the US Secretary of Defense is now called “Secretary of War”. Historically, the department was actually named Department of War from 1789 to 1949, before it was changed to Department of Defense to signal an emphasis on preventing war amid the new threat of nuclear destruction. The new name has been widely interpreted as a reflection of a more aggressive foreign-policy posture under Trump. Well, at least the name rings true to itself.

Seoul responded to citizens detained in US Hyundai raid
South Korean authorities have held an emergency meeting regarding the arrests of 475 of its nationals at a Hyundai plant in Georgia, US, vowing to take swift response to the issue. Video released by the Immigration and Customs Enforcement (ICE) officials showed Asian workers shackled in front of a building, with some wearing yellow vests with names such as "Hyundai" and "LG CNS". Many of the arrested were on business trips with various visas or under a visa waiver programme. The White House defended the raid, with Trump saying that they are “illegal aliens” and that ICE was just doing its job. ICE also said that people on short-term or recreational visas are not authorized to work in the US. South Korea, a close US ally, has pledged tens of billions of dollars in American manufacturing investment, partly to offset tariffs. The timing of the raid, as the two governments engage in sensitive trade talks, has raised concern in Seoul.

Biz

Elon Musk - the world’s first trillionaire?
Tesla seems like it really wants to keep Elon Musk despite him coming under scrutiny in the last year as car sales and profits tumbled, partly due to Musk’s support for far-right political causes. The company has proposed a compensation package for Musk that could top USD1 tril if the chief executive delivers on his vision for stratospheric growth from new technologies, asserting the need to retain the controversial CEO at a moment of fierce competition for top talent. The plan, which runs for 10 years and must be approved by shareholders, provides Musk with up to 12% of current total shares. However, to reach the full award, Tesla must reach a market capitalization of “at least USD8.5 tril by 2035”. Its current market capitalization is just over USD1 trillion. Tesla chair Robyn Denholm and board member Kathleen Wilson-Thompson described the new package as a “super ambitious incentive package for a pioneering, ambitious and unique CEO” in a letter to shareholders in the filing.

https://x.com/StockMKTNewz/status/1963922267106328784

A swimming school goes IPO
Singapore’s swim school Fitness Champs is seeking to raise USD15 mil in its IPO on Nasdaq, where if successful, would make it the 15th Singapore company to list in the US in 2025. Fitness Champs is founded by CEO Joyce Lee who is a swim coach herself. It is one of the biggest swim schools in Singapore with around 240 coaches, coaching between 18,000 to 20,000 students a year. According to its prospectus filed with the US Securities and Exchange Commission, the company had recorded SGD4.2 mil in revenue in 2024, up 52.5% from 2022 with profit growing to SGD1.5 mil from SGD1.2 mil in the same period . The company also plans to expand into the Middle East, specifically Dubai, targeting students from international schools and the expat community. View prospectus here. Btw, not all has been rosy post-IPO - as at Sept 4, 11 companies that listed in 2025 have already seen their share prices fall below their IPO prices.

Shorts

1. Lush shuts UK stores for a day to protest Gaza starvation

   Cosmetics retailer Lush went the extra mile to express solidarity with Gaza by shutting down all of its physical stores, online shops and factories for one day in protest over starvation in Gaza. The website home page of Lush reads "stop starving Gaza" in large text, with posters with the same message hung in every window of the physical stores. The company said it hopes the UK government notices and takes action "needed to bring an immediate stop to the death and destruction" in Gaza, including an end to arms sales to Israel. Lush, known for its delightful bath bombs and soaps, operates in more than 50 countries and has 104 shops in the UK and Ireland.

2. 4-day workweek makes South Korean workers happier

   South Korea, a country notorious for its long working hours, has undergone a trial programme of 4-day workweek for its workers across many different sectors, with positive outcomes reported in terms of employee wellbeing, quality of work, organization efficiency and a lower employee turnover. South Korean workers logged an average of 1,865 hours in 2024, according to the Organisation for Economic Co-operation and Development (OECD), the sixth-highest among developed countries and well above the OECD average of 1,736 hours. This can work in Malaysia too - that, assuming if we can at least maintain our productivity.

3. Lisbon mourns tragic funicular crash

   Lisbon’s bright yellow, 140-year-old Glória funicular, a popular tourist attraction, tragically crashed on Wednesday, killing 16 people and injuring more than 20. Officials have not indicated what may have caused the crash, but eyewitness reports suggested that the braking system on the cable-hauled funicular failed, sending it hurtling down the steep street. Authorities said that the funiculars had been operating correctly since 2007, adding that although spending has increased in maintenance, costs of maintaining the funiculars had more than doubled over the past 10 years. View incident here.

5. FOR YOUR EYES 📺

1. The local coffee scene is heating up with the entry of a new Chinese giant, Lucky Cup. Lucky Cup, with more than 7,000 outlets in China, is owned by a familiar name - MIXUE.

2. 24-year-old Muhammad Qayyum Zunkurnain chose an alternative career after SPM to be a full time farmer. With 3,000 papaya trees and 4,000 banana horn plants over 3.2 hectares, he now generates revenue of RM13,000 monthly. Not too bad!

3. Will the market rollercoaster in 2025 continue into 2026?