☕️ Israel's explosive pagers' dark feature - 2 hands needed to read

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Today’s section is dedicated to that one activity that most of us hate - smoking

The Ministry of Health aims to reduce the prevalence of smoking tobacco amongst those aged 15 and above to 15% by December next year from 19% currently. Though the prevalence has improved from 21.3% in 2019, there’s a shift from conventional smoking to vaping. As for vaping, the national prevalence rate stands at 5.8% and MOH aims to also set a target for reducing vaping prevalence.

Control of Smoking Products for Public Health Act 2024 (Act 852) came into effect on October 1, introduced to curb smoking habits amongst the public and prevent the sale of smoking products, including vape and any electronic smoking devices to minors through law enforcement and continuous public education initiatives. More about the act here. With the act coming into full force, here is a comprehensive list of places in the country where smoking and vaping are no longer allowed. Health Minister Dr Dzulkefly Ahmad advised not to confront these jokers smokers if they are caught smoking in these areas, and instead should take photos and report it to MOH through Whatsapp here.

The Malaysian Muslim Restaurant Owners Association (Presma) said over 40% of its 12,000 eateries no longer sell cigarettes A big kudos to Presma! Meanwhile, the retail display ban on tobacco, set to be effective April 1 next year, could cost retailers up to RM300 mil in compliance, according to the Federation of Sundry Goods Merchants Associations of Malaysia. Each retailer could incur up to RM6,000 in costs to comply. The association is calling on MOH to delay the implementation and requested for financial support.

3. IN MALAYSIA 🇲🇾

Move aside nasi kerabu, Kelantan now has homegrown grapes
It’s generally thought that local grapes aren’t comparable to those grown in colder regions due to our local fruits bearing a sour taste. Having successfully cultivated grapes in Malaysia, grape farmer Wan Yusoff Wan Abdul Rahman believes that his grapes grown in Tumpat challenged that belief as they are sweet and akin to imported grapes. At 40 years old, he has planted over 100 grape vines in his 0.4-hectare orchard in Kampung Belukar, yielding around 30 kilograms of fruit, with each bunch weighing between 500 to 700 grams. Looks fruitful - check it out here.

Wan Yusoff began this venture in 2019 and has since grown various grape varieties, including Dubovsky Pink and Shine Muscat, which are originally from Ukraine, the US, and Japan. He believes there are approximately 47 grape varieties suitable for Malaysia's climate.

Yusoff also emphasized that grapevines can produce up to four harvests, depending on cultivation methods as he shared simple cultivation techniques: after harvesting, the vines should be pruned to encourage new growth and flowering besides keeping the vines sheltered from rain while ensuring they receive adequate sunlight for optimal sweetness.

Malaysia bests Norway and Mongolia by 61 and 59 points - in badminton
110-51 and 110-48 were the final scores in Malaysia's grouping games against Norway and Mongolia, respectively. Confused? This is the new relay scoring system being used in the mixed team event at the World Junior Championships in Nanchang, China. Under this format, teams play 10 games, and the first to reach 110 points wins.

Although national junior head coach Jeffer Rosobin has expressed confidence in our players' ability to adapt to this new 11-point system and eventually secure a podium finish, local badminton legend Rashid Sidek, though, is not a fan of how experimental this scoring is done. He touted this system as detrimental to badminton’s development, besides not rewarding players based on their actual skill level- countries that are traditionally not badminton powerhouses like the US, France, and UAE perform much better than expected in this format. 

To bolster his claim, Rashid says that the typical 21-point approach reflects the sports’ physical and mental demands, as players only start finding their rhythm after 11 points; this doesn’t happen in Nanchang, as the game ends when a player wins the 11th point. In addition, if a team is down 2-0 in the old format, teams can win the remaining matches to secure a tie, whilst the relay system kills any excitement of a comeback early on. Rashid hopes this system gets discontinued eventually, and not adopted for the Thomas, Uber, and Sudirman Cup.

We’re no badminton pros but an Olympics bronze medalist must have a point.

Business

• Generator rental service provider Express Power files for IPO
  Express Power Solutions (M) Bhd has filed its prospectus with Bursa Malaysia, though it’s not known yet how much it is raising and its valuation. The company has been in operations since 2005 and owns 49 large-sized power generators utilized for maintenance and emergencies, besides having ventured into solar photovoltaic solutions in April. Currently, it operates mainly in Peninsular Malaysia and Sabah, with plans to expand into northern Peninsular Malaysia and acquire an additional 16 generators. Proceeds from the IPO will primarily fund the purchase of new generators and equipment, as well as support working capital needs.

  Financially, Express Powerr reported a profit after tax (PAT) of RM9.89 mil for the fiscal year ending December 31 2023, marking a 31.93% increase from RM7.49 mil in FY2022. Revenue, on the other hand, rose by 25.51% to RM39.42 mil from RM31.41 mil. That’s a pretty wild net margin of 25.1% - didn’t expect such profitability! Part of the funds raised will go directly to managing director Lim Cheng Ten, allowing him to maintain a 71% ownership stake post-IPO. View its prospectus here.

• Company associated with business tycoon Syed Mokhtar exits Media Prima
  Aurora Mulia Sdn Bhd has sold its entire 31.9% stake in media conglomerate Media Prima Bhd that was acquired in October 2019, ending a five-year tenure as the largest shareholder. The transaction price was not disclosed. The stake, totaling 353.82 mil shares, was sold on Monday to an unknown buyer, approximately valuing the transaction at RM164.52 mil based on Media Prima's closing price of 46.5 sen.

  Recently, Leasing Corp Sdn Bhd joined Plantation and Commodities Minister Johari Abdul Ghani as a substantial stakeholder as it acquired 5.53% of Media Prima. Johari, through JAG Capital Holdings Sdn Bhd, owns a more substantial 25% stake. Morgan Stanley & Co currently also holds a 10.18% stake. Media Prima market cap stands at RM515.8 mil. Media Prima is a giant in the space owning media assets such as NST, Berita Harian, and Harian Metro, besides owning TV3, 8TV, ntv7, and TV9.

Shorts

1. Johor’s weekend back to Saturday and Sunday
   Since Muhyiddin Yassin implemented a Friday-Saturday weekend in 1994 during his tenure as state MB, Johor is now set to revert to using the traditional Saturday-Sunday weekend starting Jan 1, 2025. This is the third time in 3 decades that Johor has switched weekend days.

2. Foreigners fined RM5,000 each for indecent dressing at running event
   2 foreigners, one from India and another from Taiwan, were fined RM5,000 each during a running event in Pengerang for committing an obscene act that caused disturbance to others in a public place. A video clip of these runners at the Desaru Hash Red Run went viral, sparking outrage on social media. Here’s what they wore.

4. AROUND THE WORLD 🌎

The dark feature of Israel’s deadly pagers and the continuous bombing
The exploding pagers that were used to deadly effect by Israel against Hezbollah were reported to have a darker feature beyond the devices being explosives. The pagers apparently required users to have both hands on the device as part of a message decryption process, meaning most users had both hands on the device when it went off. An Israeli official said the aim was to “wound both their hands” making the victim “incapable to fight”. Considering the devices involved a Taiwanese company, the island nation took notice of the issue, but the Israeli envoy in Taipei said ties between the two nations were strong, with “an open line of communication”.

Israel marked the anniversary of the 7 October attack by Hamas with an escalation of its air and ground offensive in Gaza, with tanks sent into a refugee camp and a hospital compound bombed, according to residents, while Hamas retaliated with a missile salvo aimed at Tel Aviv and several Israeli towns near the Gaza border. Also escalating is the hostilities between Israel and Hezbollah, with the former ready to expand its ground operations into Southern Lebanon, while the latter fired rockets at the Israeli city of Haifa, marking a year of Hezbollah launching rockets at Israel as well.

However, amid all this, the potential successor to slain Hezbollah leader Sayyed Hassan Nasrallah, Hashem Safieddine, has been out of contact since Friday, following an Israeli airstrike targeted at him. The airstrike was part of a larger operation on Beirut’s southern suburbs, according to Israeli officials, though Safieddine’s death cannot be confirmed. Hezbollah has also remained silent on the matter.

On the religious side, Pope Francis has openly criticised the international community for its “shameful inability” to end the war in the Middle East, saying that it seemed few people cared about dialogue and peace. As it turns out, news networks CNN and BBC also had sins to confess, as whistleblowers stepped forward to reveal the networks’ pro-Israel bias in coverage and the frequent violations of journalistic principles, with several whistleblowers also accusing senior newsroom figures of interfering in reporting to downplay Israeli atrocities - watch here.

High-Speed Rails and Fundraisers

• Vietnam politburo announces USD67 bil HSR with no foreign capital

  The Southeast Asian nation demonstrates its reluctance to accept foreign loans by announcing its plan to fund the railway worth USD67 bil on its own. The railway will run from Hanoi to Ho Chi Minh City, a distance of 1,541km, and would be the nation’s largest infrastructure project to date. The project is expected to be completed by 2035, with funding coming from state revenues and the issuance of government bonds if necessary. Foreign loans under concessional conditions will only be considered if the above is insufficient.

• Toyota doubles up investment to USD500 mil into US electric air taxi startup
  Toyota, who injected USD394 mil capital to California-based company Joby Aviation back in 2020, has now upped its investment in the startup to USD500 mil, totaling up the investment to a whopping USD894 mil. Joby will be using the funds to complete the lengthy Type 2 certification process with the Federal Aviation Administration and support commercial production of its electric vertical takeoff and landing aircraft. Joby was founded in 2009 to develop, certify and produce an eVTOL aircraft that will be used as a commercial taxi service in cities. Besides investing money, Toyota has been steadily supporting the company by sharing its expertise, technology and methods. In 2023, the companies signed a long-term agreement for Toyota to supply key powertrain and actuation components for the production of Joby’s aircraft. Flying Toyotas coming soon it seems.

• Singapore’s state investor Temasek in talks for USD1.3 bil-plus stake in Haldiram
  Sources familiar with the matter have said that Singapore sovereign wealth fund Temasek is considering buying a minority stake in Haldiram Snacks, India’s biggest snack maker - a transaction that may value the company at about USD11 bil. If it comes to fruition, the Singapore state investor might buy a 10% to 15% stake in Haldiram which translates to a possible USD1 bil-plus stake in the Indian company. The investment may also serve as a stepping stone towards a potential initial public offering (IPO) of the company. Haldiram was founded by Ganga Bishan Agarwal in the 1930s in north India. They sell a range of foods from sweet and savoury snacks to frozen meals and breads.

Mexican mayor murdered
Alejandro Arcos was assassinated six days after his inauguration as the mayor of Chilpancingo, the capital of the Mexican state of Guerrero, a state plagued by violence. His death was confirmed after images of his body were circulated on social media, though the images could not be verified. His death also comes three days after the new city government’s secretary, Francisco Tapia, was shot to death. The state is said to be one of the deadliest for aspiring and elected public officials, as well as for journalists, with at least six candidates for public office killed in the state in the time leading up to Mexico’s elections on 2 June. Want to see the graphic pictures anyway? We warn you - it’s disturbing - view here.

Sit too much and risk suffering from dead butt syndrome
Gluteal amnesia, or dead butt syndrome, refers to the weakening of the gluteus maximus from inactivity to the point they fail or become slow to activate. This can result in other muscles and joints in the lower back and knees acting to compensate, causing pain. If one regularly sits for more than two to three hours at a stretch, there is probably some degree of the syndrome at play. Rehabilitation specialist Dr Jane Konidis and physical therapist Dr Chris Kolba suggested two simple tests to check for the syndrome, one of which is the glute bridge. The doctors said standing up and performing simple exercises every 30 to 50 minutes can help to keep the muscles activated.

5. FOR YOUR EYES 📺

1. The world’s USD11.5 tril in savings visualised - read more here.

2. Motivation for the week