☕️ The Parliament Mix: Rice and Retirement Funds

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

2.4 mil babies saved – James Harrison, one of the world’s most prolific blood donors, passed away on February 17 at the age of 88. Known as the “man with the golden arm”, Harrison’s blood contained a rare antibody, Anti-D, used to create life-saving medication for pregnant women at risk of complications. He began donating plasma at 18 and continued every two weeks until he was 81, contributing to a record-breaking donation streak that held until 2022. His extraordinary commitment left him an indelible legacy in medical history.

USD53.2 bil (RM237.5 bil) – Reconstruction efforts in Gaza will require over USD50 bil following 15 months of devastating conflict, according to a joint assessment by the United Nations, the European Union, and the World Bank. The estimates needed over the next decade include USD29.9 bil to repair damaged buildings and infrastructure, with USD15.2 bil allocated specifically to rebuild destroyed residential housing. The findings come as Arab nations seek alternatives to a U.S.-proposed plan that could displace Gaza’s 2 mil residents, highlighting the immense scale of recovery needed to restore the war-torn territory.

19,450 cases of student vaping – Nearly 20,000 cases of students vaping in schools were reported last year, according to data from the Students Discipline System (SSDM). Deputy Education Minister Wong Kah Woh revealed that the figure represents a sharp increase, with vaping incidents seven times higher than the 3,704 cases of students caught smoking. While schools handle vaping incidents on their premises, cases outside school compounds fall under the jurisdiction of local authorities and the Health Ministry, highlighting the growing challenge of addressing youth vaping nationwide.

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3. IN MALAYSIA 🇲🇾

The Parliament Mix: Rice and Retirement Funds
The practice of mixing local and imported rice has persisted since the 1970s, yet no clear laws exist to prosecute offenders. Despite the Control of Padi and Rice Act 1994, no specific provisions outline legal consequences for rice mixing. A study by the Malaysia Competition Commission (MyCC), confirmed the long-standing issue. The government is now working on new policies, including price regulations for mixed rice, to curb the practice. The issue gained renewed attention due to a local white rice shortage, despite Malaysia producing over 2.4 mil metric tons per season. Findings from the Malaysian Agricultural Research and Development Institute (MARDI) showed that nearly 50% of 5,000 imported rice samples seized by authorities contained local white rice. In response, the government plans to introduce new regulations banning the mixture of local and imported white rice to stabilize the supply.

Meanwhile, Bersatu MP Wan Ahmad Fayhsal sparked controversy by questioning the EPF 2024 dividend payout, suggesting it was politically motivated. However, activist Liyana Marzuki criticised his claims, pointing out that under the EPF Act 1991, dividends must reflect actual investment performance. EPF announced a 6.3 % dividend rate, the highest in seven years, distributing RM73.24 bil to 16 mil members. Wan Fayhsal argued that almost all of EPF’s RM74.46 bil investment income was used, raising concerns about its financial strategy. Sungai Petani MP Taufiq Johari dismissed the criticism, calling it political spin and noting similar practices under Perikatan Nasional’s administration. The debate continues as EPF remains a crucial pillar for Malaysians' financial security.

Era FM sparks 3R controversy
The Communications Ministry is investigating Astro’s Era FM after a video (watch here) surfaced of its radio jocks allegedly mocking a Hindu ritual. The Malaysian Communications and Multimedia Commission (MCMC) will summon Astro and Era FM’s management to determine if action should be taken under existing laws. The controversy began after a clip from Era FM’s 3 Pagi Era breakfast show showed announcer Azad Jazmin mimicking Hindu devotees in a trance, sparking public outrage. The incident received backlash, with Digital Minister Gobind Singh Deo condemning the announcers’ actions as disrespectful and emphasizing the importance of respecting religious and cultural practices, stressing that insensitive portrayals could escalate tensions under Malaysia’s strict 3R sensitivities. The controversy has reignited calls for stricter media accountability to prevent insensitive portrayals of religious and cultural practices.

MOH to tackle soaring medical costs 
MOH is taking steps to curb medical inflation and rising health insurance premiums. Health Minister Dr. Dzulkefly Ahmad acknowledges no single fix exists but highlights key measures. The Diagnosis-Related Group (DRG) system aims to increase transparency in patient charges, while medicine price displays in hospitals and clinics will help insurers assess costs. Although government hospitals have accepted the initiative, private general practitioner (GP) clinics oppose it, calling it misleading. Despite pushback, MOH remains firm on tackling medical costs through a multi-pronged approach to ensure affordable healthcare and sustainable insurance rates.

‘Isle of dogs’ for Langkawi’s stray dogs dilemma?
Langkawi MP Suhaimi Abdullah suggests turning a nearby island into a sanctuary for stray dogs, managed by NGOs and local authorities. His proposal follows a recent attack where a four-year-old boy was severely injured by stray dogs in Kampung Dedek. Suhaimi criticized the lack of funds for existing efforts like capturing and spaying, urging a long-term solution. According to police and health department records, Langkawi saw at least 20 reported dog bite cases between 2020 and 2023. Suhaimi urged swift action, stating that the issue has been repeatedly raised in Parliament but often downplayed to protect Langkawi’s tourism image.

This isn’t entirely a new idea - residents in Pulau Ketam did the same back in 2009. They caught more than 300 stray dogs and dumped them on a mangrove island, Pulau Tengah, driving the canines to cannibalism after weeks of starvation. Cruel solution.

Isle of Dogs (2018) is an interesting stop-motion comedy-drama movie directed by Wes Anderson. Summary here and trailer here.

TnG rolls out new eSIM service
Touch 'n Go (TNG) eWallet has rolled out its new travel eSIM service, allowing users to stay connected across 149 countries, including Japan, South Korea, China, and Singapore. The digital SIM, available within the TNG eWallet app, eliminates the need for physical SIM swaps while traveling. Users can activate the service by selecting "GOtravel" in the app and choosing their destination and data plan. Multi-country roaming options are also available, with validity ranging from seven days to a month. However, travelers are advised to check device compatibility in the app before subscribing.

4. AROUND THE WORLD 🌎

Trump declares tariff on Mexico, Canada and China
It’s confirmed - the US has imposed 25% tariffs on goods from Mexico and Canada beginning yesterday, while Chinese import tariffs have been increased to 20% from the previous 10% levy to punish Beijing for failing to halt shipments of fentanyl to the US. The move has pushed North America closer to a regional trade war, triggering a sell-off in global stocks and pushing bond yields lower. The Mexican peso and Canadian dollar both fell. Economists say Trump’s tariffs on Canada and Mexico, covering more than USD900bil (RM4.02 tril) worth of annual US imports, will deal a serious setback to the highly integrated North American economy.

Retaliatory measures
In response, PM Justin Trudeau said that Canada will impose 25% tariffs on USD107bil (RM477.92 bil) worth of US goods until the US trade action is withdrawn, and should US tariffs not cease, the government will continue active and ongoing discussions with provinces and territories to pursue several non-tariff measures.

China is retaliating too - the country announced additional tariffs of up to 15% on some US goods from March 10, and restricted exports to 15 US companies. It largely covers US agricultural goods, including corn and soybeans, which will be subject to new duties of 15% and 10%, respectively. US exports of agricultural products such as soybeans to China account for the largest share at 1.2%, or USD22.3bil, as of 2023.

There’s a reason why tariffs are not simply imposed by nations, as tariffs could also be an act of war, as mentioned by Berkshire Hathaway CEO and billionaire investor Warren Buffett. Tariffs over time serve as a tax on goods and eventually those new costs are often passed on to consumers through higher prices. Tariffs are considered by many economists as a political weapon and not an efficient framework for international trade, while Trump seems to be using it as a display of power.

Meanwhile in Taiwan…

Taiwan to rethink reliance on US military backing
After witnessing the heated Oval Office blow-out between Zelenskyy and Trump a few days ago, Taiwan is called to “tread the water” more carefully when it comes to dealing with the US and gaining its military backing. Defence Minister Wellington Koo said in a media briefing that the country “cannot rely on the goodwill of others to maintain peace”, which is believed to show the urgency faced by security officials in Taipei and other places that rely on US military backing to counter Beijing, including Japan, South Korea and the Philippines.

TSMC to spend USD100bil (RM446.65 bil) in the US
This might be a positive for Taiwan’s relationship with the US as Taiwan Semiconductor Manufacturing Co (TSMC) has said that it plans to invest USD100 bil in the US and build five additional factories in the coming years. This is in addition to a major investment announcement in April 2024, where it said to expand its planned US investment by USD25 bil to USD65 bil and add a third Arizona factory by 2030. TSMC, the world’s largest contract chipmaker, is a leading supplier to major US firms including Apple, Intel and Nvidia. This obviously serves Trump’s mission to increase semiconductor manufacturing in the US, in the name of “national security”.

Shorts

1. Russia agrees to help US broker nuclear talks with Iran

   President Trump seems to be mending his relationship with President Putin. According to sources, Putin has agreed to assist the US to communicate with Iran regarding its nuclear program and its support of anti-US proxies in the region, via a phone call between them in February. Both sides were also said to have signaled cooperation on matters related to other geopolitical interests, including trade routes and resources in the Arctic. Neither Russia nor Iran have officially confirmed or denied this, while the White House keeps mum.

2. UN report: Children as young as one raped in Sudan 
   UNICEF has reported that the scale of war in Sudan is getting worse in terms of using sexual violence as a war tactic. It is apparently more widespread than just the documented cases, where children as young as one year old has also became a victim of rape by armed men. It is an abhorrent violation of international law and could constitute a war crime. Gender-based violence (GBV) service providers in Sudan recorded some 221 cases of child rape since the beginning of 2024. Of those cases, 66% of the survivors were girls and 33% were boys.

3. Teleperformance uses AI to 'neutralize' Indian employees' accents Teleperformance, the world’s largest call center, has found a way to use AI to “neutralize” accents in its operators, particularly Indian accents that may sometimes be hard to hear or understand. The company shared that it invested USD13 mil (RM58.06 mil) in Sanas, an AI startup that provides an accent-neutralizing technology that currently works on Filipino accents and possibly Latin American as well. It also does AI tasks, such as transcribing calls and coaching new employees. The company announced it would invest a further USD104 mil in AI during an investor call.
   Trump needs this, if you missed the news a few weeks ago:

5. FOR YOUR EYES 📺

1. How do you make your EV stand out? By offering a drone along with it. That’s exactly what BYD did, in a tie-up with Chinese drone maker DJI. Not entirely sure what’s the purpose.

2. Best-dressed at the recent Oscars over the weekend - Adam Sandler. Legend. Here’s the story behind his dress code. If you need something to lift your mood midweek, here’s a collab between Adam Sandler x Elmo (that Sesame Street Elmo indeed) from 15 years ago.

3. No turning back