☕️ Negeri Sembilan elections confirmed

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

7.9% – Japanese-language content accounted for that share of the global market in 2025, according to US research firm Parrot Analytics. The study, which analysed data from 90 countries and regions covering 2020 to 2025, also found that Chinese-language content accounted for 4.1%, while Korean-language content accounted for 2.9%. English-language content held a market share of 61.6%. The finding comes as Japan was ranked third overall in a 2026 soft power index by UK research firm Brand Finance, which also found that Japan is not fully leveraging the popularity of its anime and manga to create tangible economic benefits. Soft power refers to a nation’s ability to spread its influence through culture and economic strength. The country with the most soft power is the US, followed by China, according to the UK study.

USD181 mil (RM723.11 mil) – One of Jackson Pollock’s artworks, described as one of history’s “first truly abstract paintings”, was sold at auction for that much. The piece, titled Number 7A, 1948, broke the record for the highest price achieved by a Pollock work at auction, surpassing the record set by Number 17, 1951, which sold for USD61.2 mil. The painting is also now the fourth-most-expensive artwork ever sold at auction. See the painting here.

EUR55 mil (RM255.56 mil) – That’s how much the Spanish government has to refund singer Shakira after the national high court ruled that the money was improperly collected in a dispute over her taxes. The court acquitted Shakira of tax fraud, saying tax authorities failed to prove she spent 183 days in Spain in 2011, the minimum period required for an individual to be considered a tax resident. However, the tax agency intends to appeal to the Supreme Court, and no payment will be made until a final ruling is issued.

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3. IN MALAYSIA 🇲🇾

Election season is here!
PM Anwar indirectly dismissed rumours of a snap election
PM Anwar Ibrahim did not give a straight answer when asked about the possibility of calling a snap general election, coinciding with the Johor state election. Instead, PM Anwar stated that he is focusing on his work. Two weeks ago, during the Pakatan Harapan convention, he said he would meet with party leaders to discuss the possibility of a snap general election.

Negeri Sembilan to follow Johor in having its state election
In an 11.30pm press conference at his residence, Negeri Sembilan Menteri Besar Aminuddin Harun announced the dissolution of the state legislative assembly on June 5, thus making way for snap polls. It was also rumoured that Pakatan Harapan (PH) had decided on the number of seats each party will contest - PKR to contest 16 seats, DAP with 11 seats and Amanah with 9 seats.

Previously, in the last state polls, PH won 17 seats, Barisan Nasional (BN) 14, and Perikatan Nasional (PN) five. The call for a snap election has intensified since the end of Apr, after BN assemblymen withdrew support for Aminuddin’s government, prompted by Aminuddin’s response to the recent state royal crisis.

There is no such thing as Madani in Johor
BN chief and Deputy PM Ahmad Zahid Hamidi said that BN will still stick to its decision to contest all 56 state seats in the upcoming Johor election. Zahid added that BN is in the midst of finalising the list of candidates.

He said the lineup will consist of incumbents and new faces, while keeping to BN’s philosophy of fielding winnable and likeable candidates. Zahid’s statement clashes with what PM Anwar stated previously, that he intended to meet Zahid for negotiations. If no deal is reached, it will likely have a ripple effect that could lead to the federal government fracturing.

PAS attempts to rekindle old romance
PAS deputy president Tuan Ibrahim Tuan Man has called for another attempt at uniting major Malay-based political parties, particularly with UMNO, under the Muafakat Nasional (MN) banner. Tuan Ibrahim mooted that the proposed renewed cooperation can start in Johor and be expanded nationwide.

The MN coalition (between PAS and UMNO) was created in 2018, following the fall of BN’s monopoly at the federal level. However, the pact went south in 2022 after UMNO decided to back Anwar Ibrahim as the PM.

Improvements for future travels
MAHB to spend RM11 bil for upgrades
Malaysia Airports Holdings Bhd (MAHB) announced that over the next five years, the airport operator will allocate RM11 bil to expand capacity and upgrade infrastructure across its airport network. The multi-billion-ringgit capital expenditure spending includes the KLIA development plan to increase capacity beyond 100 million passengers annually, the expansion of Penang International Airport from 6.5 mil to 12 mil passengers annually, and the upgrades of Kota Kinabalu International Airport (KKIA), pushing its annual capacity to 12 mil passengers from the current 9 mil passengers annually. For comparison, the construction cost of KLIA Terminal 2 was RM4.5 bil back then.

Malaysians can now apply for a decade-long passport
Putrajaya has just launched the 10-year passport, after formalising the change under the Fees (Passports and Visas) (Amendment) Order 2026, gazetted by the federal government, replacing the previous five-year validity period for most passports. Under the new system, Malaysians can apply for the 10-year passport for a RM350 fee. Previously, it was RM200 for a five-year passport. Senior citizens aged 60 and above will now pay RM175, while persons with disabilities (OKU) with a valid OKU card, as well as Immigration Department officers and staff, are exempted.

Shorts:

1. FAM is ‘almost’ a complete failure

   Based on a four-month audit conducted by the Asian Football Confederation (AFC), the regional body concluded that the FA of Malaysia (FAM) has severe weaknesses across governance, finance, legal affairs, football development and administration. AFC Deputy General Secretary Vahid Kardany said FAM was rated largely at the Pre-Intermediate level — Level Two on AFC's five-tier organisational maturity scale. Kardany also mentioned that FAM members had not formally approved annual budgets since 2016, despite it being a statutory requirement. He also added that FAM failed to raise money commercially as two-thirds of its income in 2024 came from AFC and FIFA grants, making FAM basically a grantpreneur.

2. 19 aspects to be green lit before nuclear power can be used in Malaysia
   The Energy Commission CEO, Siti Safinah Salleh, revealed that Malaysia’s decision on whether to launch a nuclear power program will depend on its level of preparedness across 19 key areas. The 19 key areas (view here) were not plucked from the sky, as it refers to the International Atomic Energy Agency’s (IAEA) Milestones Approach, which outlines 19 infrastructure issues a country must evaluate before deciding whether to launch a nuclear power programme. Nuclear power is being considered as part of Malaysia's strategy to meet its 2050 net-zero carbon emission targets.

4. AROUND THE WORLD 🌎

How money is illegally moved out of China
China’s capital control is known as the world’s strictest (overseas transfers limited to USD50,000 (RM200,650) per year per individual), but demand for overseas assets, as well as the rapid accumulation of private wealth, has fuelled a vast underground industry dedicated to circumventing capital controls. Concerns about China’s economic outlook and President Xi Jinping’s drive to reduce inequality have also prompted many wealthy Chinese families to seek a financial foothold overseas.

Here are some of the most common ways mainlanders circumvent the government’s strict rules to get money out of China:

• Smuggling cash across the border, often concealed in suitcases, vehicles and on boats.

• Smurfing – recruiting people on the mainland who have not used their annual foreign-exchange quota and then having brokers move them overseas in a series of seemingly legitimate transfers.

• Mirror transfers or underground banking.

• Inflated or fraudulent invoices by manipulating import contracts that require payments to be settled overseas.

• Refund schemes, where a person or business in China uses a mainland bank card to buy expensive goods from an overseas merchant before later obtaining refunds or settling transactions outside the normal banking system, allowing the money to end up offshore.

• Cryptocurrency.

TS: Taylor Swift or 'Toy Story 5?
Taylor Swift has confirmed a long-simmering speculation this week when she announced her new single for the "Toy Story 5" soundtrack, "I Knew It, I Knew You," will be released this Friday (aka today), much to the excitement of devoted Swiftie detectives who had collected Easter Eggs from across the internet that hinted at the collaboration for months.

The marketing strategy is said to be ripped straight from Swift's favourite promotional playbook - manufacturing hoopla, whipping her loyal fans into a frenzy while barely lifting a finger, then channelling that anticipation into merchandise sales. Both Swift and Toy Story have endeared themselves to audiences through true creative genius, and together, Swift and "Toy Story" are the perfect storm of mass consumer appeal.

Check out the billboard promotion of Toy Story 5 that caught Chicago by surprise:

Kalshi wants small businesses to hedge like Wall Street
Kalshi, a US federally regulated prediction market company, is using a local New York City bar to show off its hedging capabilities. Hedging is a risk management strategy that traditionally helps large companies and investment funds offset losses by taking opposing positions in an existing investment. In this case, the bar is promising customers that if the Knicks win their first game against the Spurs, it will pay for everyone’s tab. The bar placed a USD5,000 (RM20,065) trade on Kalshi for Wednesday night’s game one of the seven-game NBA Finals.

If the Knicks win, customers win a free meal, and the bar collects over USD13,000 from its Kalshi contract. If the team loses, the bar loses money from the contract, but profits from the expected big crowd. Kalshi’s move came after states continued to push for aggressive regulation on prediction market platforms, particularly targeting the platforms for operating as illegal sports betting operations.

Content creator tried to use a YouTube alibi to get away with murder
A brutal killer in Ireland almost walked away a free man after murdering his pregnant girlfriend and using his livestream on YouTube as an alibi - until cyber experts blew it to pieces. Stephen McCullagh was found guilty of murder after a five-week trial earlier this year and sentenced to a minimum of 31 years.

Investigators said that what appeared to be a live stream was actually a secretly pre-recorded six-hour gaming session that he then played out as live to give him cover to travel from Lisburn to Lurgan in disguise, to kill his pregnant girlfriend and then get home before the stream ended. Interestingly, police had initially believed McCullagh's alibi because YouTube had earlier confirmed it had played out as a live broadcast, in which he was ruled out as a suspect. Eventually, he got caught thanks to a software. This would make a good Crime Scene Investigation (CSI) episode. Remember this - clever clever squirrel jump, one day fall to the ground also.

Argentina erupts in protests after another femicide
Argentinians have taken to the streets in angry protests, following yet another femicide, this time of 14-year-old Agostina Vega, who was sexually assaulted and hanged, with her body dismembered with a kitchen knife. She was killed at her friend’s home on May 23, and her remains were found in a drainage ditch Saturday, a week after her disappearance.

Thousands of protesters gathered for the annual “Ni Una Menos” (Not One Woman Less) demonstration in downtown Buenos Aires, holding posters with the faces and names of women who’ve been killed or disappeared in recent years, including Agostina. Her case brought renewed energy and purpose to the protest, amplifying demands for government action and intensifying criticism of President Javier Milei.
Learn: What is femicide, and is it still happening in modern society?

Shorts:

1. Dalai Lama clinches his first Grammy award
   Tibetan spiritual leader Dalai Lama has won his first Grammy Award for his spoken-word album, Meditations: The Reflections of His Holiness the Dalai Lama. He won the award in the Best Audiobook, Narration, and Storytelling Recording category. The album features his spoken teachings with music, turning decades of talks into a structured listening experience. The album was produced by Kabir Sehgal, an accomplished author, composer and musician, with 13 Grammy Awards, five Latin Grammy Awards, and multiple Emmy Awards to his name.

2. Man City threatens legal action against Real Madrid
   Manchester City plans to take legal action against Real Madrid presidential ⁠candidate Enrique Riquelme after he said that he would sign Norwegian striker Erling Haaland to the club if he is elected as the president. The Premier League club said there is “no chance of it happening”, although Riquelme said that Haaland had a release clause and wanted to move to the Spanish club. A joint statement from the Premier League Golden Boot winner’s father, Alfie Haaland, and his agent, Rafaela Pimenta, swiftly ⁠rejected the suggestion, describing it as “all very entertaining but not true”. In fact, Haaland signed a new nine-and-a-half-year contract in Jan 2025.

5. FOR YOUR EYES 📺

1. There’s cheating, and there’s micro-cheating.

2. Do you remember when you properly hugged your parents?

3. A good comic by @abamapam. For Gen Zs, if you have not heard of this Malay classic Kau Ilhamku, give it a try here.

Have a good weekend folks!