☕️ JPJ's hottest new plate: MADANI8481

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

282 cases of trespassing on railway lines were reported from January to August 2024, according to Keretapi Tanah Melayu Bhd (KTMB). These incidents are disrupting train services, averaging more than one case daily nationwide. In addition to accidents caused by human and animal encroachment, there are instances of individuals trespassing to steal train parts. KTMB urged pedestrians to stay away from its tracks, warning that those caught damaging fencing to access railway premises could face fines of up to RM1,000 for trespassing under Section 128 of the Land Public Transport Act 2010.

For more than 3,500 years, the mummified remains of the Xiaohe people rested undisturbed in a desert cemetery in Xinjiang, western China, until a team of archaeologists discovered them in 1979. Among the artefacts unearthed were mysterious white lumps found around the mummies’ necks, identified as the oldest preserved cheese in the world. A team of researchers led by Fu Qiaomei analyzed mitochondrial DNA, which is often easier to retrieve than nuclear DNA, from a goat whose milk was used in the cheeses. Their comparisons with 185 previously sequenced goat mitochondrial genomes revealed that the genetic profile of the Xiaohe goat closely resembled that of goats belonging to ancient Eurasian steppe people, suggesting that the Xiaohe may have acquired knowledge of animal husbandry and cheese-making from them.

The national electrical grid in Cuba collapsed for the fourth time in 48 hours on Sunday, raising serious concerns about the possibility of a quick resolution to ongoing power issues on the island, which is already grappling with severe shortages of food, fuel, and medicine. The latest blackout, following weeks of rolling outages, ignited small protests across the Caribbean island, where a tropical storm threatened to hinder power restoration efforts. The initial grid failure occurred around midday on Friday after the largest power plant on the island shut down, plunging around 10 mil people into darkness.

3. IN MALAYSIA 🇲🇾

More on the House Arrest Law
A new house arrest bill that could potentially affect around 20,000 offenders is set to be introduced in the Parliament next year, according to Home Minister Saifuddin Nasution Ismail. This bill aims to provide alternatives for first-time offenders who have committed minor crimes, including vulnerable groups such as pregnant women, senior citizens, and individuals with disabilities. Saifuddin emphasized that the vetting process will be thorough, ensuring that only those with good prison discipline records qualify.

PM Anwar Ibrahim hinted at this initiative during the recent Belanjawan 2025 budget announcement as it has already received Cabinet approval in principle, suggesting it as a way for certain offenders to serve their sentences at home instead of in overcrowded prisons. The motivation behind this legislation stems from the significant prison congestion at 11% as the number of current inmates stands at 82,000, far exceeding the designated capacity of 74,000.

Saifuddin also pointed out that previous initiatives like parole and compulsory attendance orders have successfully kept recidivism rates low- statistics show that only one person reoffends for every 700 released. However, said bill has raised some concerns, such as by Muda executive committee member Dobby Chew, about who would qualify for house arrest and whether it might disproportionately benefit certain individuals, particularly high-profile offenders. Corrupt officials will still see the inside of a jail cell even if it’s their first offence, right? Right?

GISB: “Abuya”’s daughter speaks to police on her experience of abuse and forced marriage to a GISB leader
The daughter of "Abuya" (leader of Al-Arqam who claimed he’s a direct descendant of Prophet Muhammad), Ummu Atiyah Ashaari, recently met with police to recount her traumatic experiences of confinement and abuse. During her statement recorded at the Padang Gajah police station in Perak, she described being wrongfully locked up in a two-room house for about a month. IGP Razarudin Husain confirmed that she attempted to escape but was caught and confined again. The police are investigating her claims, which include being forced into a marriage with a GISB leader in Turkey before her confinement in Malaysia.

Ummu Atiyah's allegations extend beyond confinement; the 41-year-old has detailed severe abuse at the hands of GISB members. She reported that after initially refusing to marry the leader, she was tracked down in Jordan and was subsequently subjected to horrific treatment, including being burned with a lighter and submerged in water for extended periods. She also recounted how her own brother pressured her to undress in front of the man she was forced to marry as part of the abuse. Ultimately, she succumbed to the pressure and agreed to the marriage out of fear for her life. Sickening. The police are currently tracking down four suspects linked to her confinement and mistreatment.

152 “Mat Rempits” detained and sent for religious talk and congregational prayers as punishment
A recent police operation in Kuala Lumpur led to the detention of 152 illegal street racers, all aged between 15 and 24. Operation "Op Samseng Jalanan" took place on Jalan Tun Razak starting Saturday afternoon and continued into the early hours of Sunday, where authorities inspected 152 motorcycles and seized 68 of them for further inspection by the JPJ- the remaining vehicles, however, received summonses for various traffic violations.

After their arrest, the individuals were taken to the Kuala Lumpur Traffic Investigation and Enforcement Department, where they participated in a congregational Dawn prayer and received a religious talk by officers from the KL Enforcement Unit, aimed at raising awareness about road safety and the dangers of illegal street racing. A little unorthodox but hopefully they learnt their lesson.

Shorts

1. RON95 targeted subsidy to potentially utilize IC, e-wallets, debit cards 
   Finance Ministry treasury secretary-general Johan Mahmood Merican stated that the two-tiered pricing system for RON95 petrol subsidies that is set to be introduced will utilize databases linked to identification cards, e-wallets, and debit cards to reduce subsidy leakages. The new mechanism might replicate aspects of the fleet cards used in the Subsidised Diesel Control System. The specifics, according to PM Anwar, are still being refined and have yet to be finalized. At what point would the administrative costs, and leakages outweigh the benefit?

2. Perodua to build sub RM100k EV with government support
   Perodua now has governmental backing in its efforts to produce Malaysia's first EV priced under RM100,000. MITI Minister Zafrul Aziz expressed optimism about this initiative as Malaysia aims to have 20% of the total industry volume be EV by 2030. The government also aims to increase the number of public charging stations from 3,171 to 10,000 by the end of 2025 for a charger-to-EV ratio of 1:9.

3. Foreign worker quota staying frozen, for now
   The freeze on foreign worker employment quota applications will remain in effect until as announced later, as the total number of foreign workers in Malaysia is nearing the established ceiling. Home Minister Saifuddin Nasution Ismail stated that this decision aligns with guidelines set by the Ministry of Economy under the 12th Malaysia Plan, which caps foreign workers at 157% of the total workforce. The government will continue to study the ruling and will allocate more foreign worker quota in the future, should they see fit.

4. AROUND THE WORLD 🌎

640 Palestinians killed in 17 days
Israeli forces have stepped up their operations in northern Gaza, with troops besieging hospitals and shelters as they rounded up men and ordered women to leave the Jabalia refugee camp. Troops have also stopped people from entering and leaving hospitals, leading to no supplies reaching the medical staff and the wounded. Al-Jazeera’s correspondent reported that at least 640 Palestinians have been killed since the start of the IDF’s siege of northern Gaza 17 days ago, describing the situation as “genocide unfolding on the ground”. US Secretary of State Antony Blinken will be making another push for de-escalation in the form of kickstarting negotiations to end the Gaza war and defuse the spillover conflict in Lebanon.

Meanwhile, UN agencies continue to face their hardships in the region at the hands of Israeli forces. The UNRWA stated that Israeli authorities are still preventing humanitarian missions from reaching areas of northern Gaza for people under siege, with the agency’s chief saying hospitals “have been hit and are without power” while the remaining shelters were so cramped people were “forced to live in the toilets”. The agency was also denied permission by Israeli forces to rescue people trapped under rubble. In Lebanon, the UN peacekeeping force continues to see its property destroyed by Israeli forces, with the latest incident being the demolition of an observation tower and perimeter fence by an Israeli army bulldozer.

Leadership roles

• King Charles heckled during Australia stop of royal tour

  The British monarch was heckled by Aboriginal lawmaker Senator Lidia Thorpe during his visit, which marked the first visit by a reigning monarch to the country in over 10 years. Thorpe accused the monarch of committing genocide against the Aboriginal communities when Australia was settled by the British in the late 18th century, with diseases and frontier massacres leading to countless deaths and the displacement of said communities. This incident also follows a failed vote last year for Indigenous Australians to be recognised in the constitution and for an Indigenous consultative body to be established. Watch the incident here.

• Russian opposition leader's wife states intent to be president

  Yulia Navalnaya, the widow of Russian opposition leader Alexei Navalny, has stated her intent to run for president as a candidate in the Russian elections once Putin’s regime comes to an end, in the hopes of bringing about the democratic Russia that her husband had fought and died for. Navalny died in a brutal penal colony, a death for which US President Biden said there was no doubt Putin was to blame. Navalny’s memoir, titled “Patriot” is now available, containing excerpts from his time in the penal colony.

• Vietnam names army general as state president

  The Southeast Asian nation named General Luong Cuong as the new state president - its 4th president since 2023. The move was widely anticipated and is hoped to bring some stability to Vietnamese politics, which has recently seen departures and reshuffles. Before the elections, the general held a key position in the secretariat of the Communist Party, making him the fifth-highest-ranking official in the one-party state. He is also a member of the Politburo, the party’s top decision-making body.

Boardroom battles

• Activist fund takes to podcasting to draw in Southwest Airlines shareholders

  Elliott Investment Management launched a podcast, titled “Stronger Southwest” (listen here), as part of its efforts to rally Southwest Airlines shareholders to call the airline’s senior staff for accountability. The podcast also precedes a December vote for the fund’s Southwest board nominees, with the series involving one-on-one conversations with the nominees. The firm believes podcasting was a way to better reach retail shareholders, and allows Elliott to completely control the content, rather than having a media outlet shape the interview.

• Boeing's latest proposal could see USD1 bil in salaries added to balance sheet

  Over USD1 bil in wage-related expenses could be added to Boeing’s balance sheets for the next four years, should the International Association of Machinists and Aerospace Workers (IAM) agree to its latest proposal, which would bring an end to a strike that has gone on for more than a month and crippled the planemaker. The proposal will be voted on by over 33,000 workers on Wednesday and coincides with Boeing’s third-quarter results, which are expected to indicate a loss. However, analysts see the proposal as a positive step, as resolving the strike quickly is the key to improving the planemaker’s financial position.

  The new proposal includes a 35% pay hike over four years, a ratification bonus, a reinstated incentive plan, and enhanced contributions to workers’ retirement plans. This proposal is an improvement over a previous offer rejected by the workers but still falls short of the 40% pay rise demanded by the union.

Shorts

1. North Korean troops are being sent Russia to fight Ukraine

   The South Korean intelligence agency reported that North Korea had dispatched 1,500 North Korean special operation forces troops to assist Russia in its war against Ukraine, a development that if proven true, could intensify the standoff between North Korea and the west and the first major participation of North Korea in a foreign war. The agency said that the soldiers were given Russian military uniforms and Russian-made weapons and were issued fake ID cards of residents of Yakutia and Buryatia, two regions in Siberia, as a cover of their participation. Russia however has denied using North Korean troops in the war and calls it  “another piece of fake news”. Wouldn’t it be easy for South Korea to verify from the.. skin colour?

2. Patek Philipe launches new Cubitus collection

   The new Cubitus line of watches marks the brand’s first new collection since 1999 and comes at a time when luxury watch prices have mostly stabilised on strong demand. The collection features three models, two in steel casings and one in platinum, and are meant to offer a new reinterpretation of the “elegant sporty” style. The brand said it also incorporated new technologies in the watches, such as an ultrathin and self-winding mini rotor. Check out the new collection here.

5. FOR YOUR EYES 📺

1. Last week, we saw the introduction of McLaren W1. Ferrari joined the party with its F80. Porsche, where art tho? At a price tag of EUR3.6 mil per unit, all 799 units are fully sold out, pocketing Ferrari EUR2.8 bil. Btw, whilst we are on supercars, have you seen a Myvighini before?

2. How much does it cost to raise a child in Malaysia? AKPK (Agensi Kaunseling dan Pengurusan Kredit) gave a floor and a ceiling price. No pressure.