☕️ NRD: Don't use others' MyKad for RON95

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Up to 26 weeks – That’s how much severance pay Oracle is offering laid-off US employees after its recent axing of almost 30,000 workers. Internal severance terms offered US employees four weeks’ base salary plus one additional week per year of employment, up to 26 weeks. This package is smaller than other recent Big Tech severance offers. Block offered laid-off employees 20 weeks’ salary plus one additional week per year of tenure, while Meta offered 16 weeks of pay and an additional 2 weeks for every year of service, including six months of health insurance coverage.

852.95 hours – That’s how long the average company reported spending on earnings reports per quarter, according to a 2019 Nasdaq survey. In days, that’s 35.5 days. Assuming a 10-person team, that’s more than two weeks per person per quarter. If the Securities and Exchange Commission switches from the current quarterly system to semi-annual earnings reports, the average executive would get an entire month back, which could be spent on other things. Theoretically, the biggest beneficiaries of such a system would be the C-suite executives, who would have more time to focus on operations, capital raising, and other big-picture initiatives.

USD72.5 mil (RM292.25 mil) – That’s the size of the settlement between Bank of America and as many as 75 women over allegations related to convicted sex offender Jeffrey Epstein. This follows court filings on Mar 27, after a proposed class action lawsuit against the Bank of America was allowed to proceed. The plaintiff, who goes by the pseudonym Jane Doe, filed the lawsuit on behalf of herself and other women and girls who say they were abused by Epstein. The plaintiff argued that the bank knowingly benefitted from its relationship with Epstein while ignoring suspicious transactions related to Epstein’s sex-trafficking operations.

3. IN MALAYSIA 🇲🇾

The hidden dangers of personal guarantees
Business owners who sign personal guarantees can be held personally liable if their company fails to repay a loan, even if the business is a limited liability company (Sdn Bhd company). Many assume their personal assets are protected, but banks often require directors or major shareholders to act as guarantors. Under Malaysian law, creditors can pursue individuals for unpaid debts, and bankruptcy can restrict financial activities and the management of assets. This practice is common in SME financing, but a defaulted loan can quickly escalate into a personal financial crisis. Financial planners warn that signing a guarantee is not routine and should be approached with full awareness. So don’t assume that simply having a Sdn. Bhd. will protect you from your company’s liability, unless you provide personal guarantee.

Biz

Zus Coffee eyes Main Market listing
Zuspresso (M) Sdn Bhd, operator of home-grown coffee chain Zus Coffee, is reportedly planning a Main Market listing on Bursa Malaysia to raise funds for regional expansion. The company originally aimed to go public in the final quarter of 2026, but the US-Israel conflict with Iran may push the listing into next year, where it is targeting a market value of up to RM6 bil. Its net profit has jumped to RM36.62 mil in FY2024 from RM10.15 mil in FY2023, while revenue more than doubled to RM468.2 mil. The chain now has over 1,000 outlets across Malaysia, Singapore, the Philippines, Brunei, and Thailand, with plans to expand to Indonesia. Investors such as KWAP, KV Asia Capital, and Kapal Api Group back the business, and the public listing could give KWAP a chance to sell some or all of its shares.

High crude costs don’t equal huge profits
Petronas says the surge in global oil prices to around USD120 (RM483.30) per barrel does not automatically lead to massive profits. President and group CEO Tengku Muhammad Taufik Tengku Aziz explained that while the upstream sector may show gains, costs in the midstream and downstream sectors, including crude purchases, refining and processing, have also risen. 

Petronas continues to prioritise national energy security and has contributed around RM1.6 tril to Malaysia since 1974 via taxes, dividends, petroleum payments and export revenues. In the past five years, it has accounted for over 20% of government revenue and channelled nearly half of post-tax profits as dividends. Supply disruptions are driving higher import and logistics costs, and Petronas is responding with measures such as optimising energy usage, reducing non-critical expenses, and using data analytics to improve efficiency.

Up in the air

AirAsia braces fuel crunch as fares soar: AirAsia X is grappling with a spike in jet fuel prices following the Middle East conflict, with costs rising from USD90 to USD200 per barrel. With no fuel hedge, fares have also increased by 30% to 40%, while fuel surcharges rose up to 20%. Flight capacity has been cut by 10% to manage costs, and current fuel stockpiles are expected to last until Jun. AirAsia X group CEO Bo Lingam said supply for Jul is still uncertain. Despite higher prices, no staff have been laid off and fleet expansion plans remain, with four aircraft deliveries expected this year.

Malaysia Airlines and Batik Air expand routes: Malaysia Airlines is expanding its network despite high fuel costs. Daily flights from Kuala Lumpur to Shenzhen start on Jul 1 and to Changsha on Jul 8, while service to Fukuoka resumes on Sept 2 with five weekly flights. Flights were around 85% to 90% full in the first quarter of 2026, and the airline has received new Airbus A330neo and Boeing 737-8 planes. On the other hand, Batik Air Malaysia will launch daily flights to Shanghai from Jun 23 and Sydney from Jul 1, though it has cut about a third of its flights in early Apr to cope with rising jet fuel prices. Both airlines continue operating while adjusting routes, schedules and capacity to handle fuel costs and supply disruptions caused by the Middle East conflict and refuelling limits in some Asian countries.

Shorts:

1. Masked gang storms Cheras entertainment outlet
   Straight out of a Hong Kong triad movie. More than 50 masked individuals armed with iron rods and wooden sticks stormed a karaoke centre in Taman Shamelin, Cheras, at midday. A lorry crashed through the front gate before the group entered the premises. Police confirmed the incident and are investigating possible motives, including revenge, disputes, or unpaid debts after several items inside were damaged.

2. NRD warns against using others’ MyKad
   The National Registration Department has reminded the public that using another person’s MyKad, including family members’ to buy subsidised fuel is illegal. Director-general Datuk Badrul Hisham Alias said all transactions must be conducted personally by the MyKad owner, with breaches potentially leading to legal action. The warning follows the arrest of a man in Tumpat, Kelantan, for using four identity cards to purchase over 100 litres of RON95 petrol.

4. AROUND THE WORLD 🌎

An actual peace plan, or another pipe dream?
The two nations are reviewing the framework of a two-phase truce deal brokered by Pakistan, which proposes an immediate ceasefire, followed by negotiations on a broader settlement to be concluded within 15 to 20 days. The deal, tentatively dubbed the “Islamabad Accord”, would include a regional framework for the Strait of Hormuz, with final in-person talks in Pakistan’s capital. The final agreement is expected to include Iranian commitments not to pursue nuclear weapons in exchange for sanctions relief and the release of frozen assets.

Iran has reportedly formulated its response to ceasefire proposals, with Iranian spokesperson Esmaeil Baghaei saying Tehran had a set of requirements based on its national interests. Iran’s stance also views “ultimatums and threats to commit war crimes” as incompatible with negotiations. This follows an expletive-laden ultimatum by US President Donald Trump telling Iran to make a deal and reopen the Strait of Hormuz by Tuesday, otherwise he would order further strikes on Iranian energy and transport infrastructure.

Not the best look for the leader of the free world.

Hamas claims disarmament calls "overt attempt" to continue genocide
The armed wing of Hamas said that any discussion about the group’s disarmament before Israel fully implements the first phase of the US-brokered Gaza ceasefire constitutes an “overt attempt” to continue the genocide of Palestinians. It was not immediately clear if this amounted to a formal rejection of the US-backed disarmament plan, and Hamas political officials have not commented at the time of writing. The issue of Hamas relinquishing its weapons has been a major sticking point in talks to implement US President Donald Trump’s proposed “Board of Peace” plan for Gaza, which aims to cement a ceasefire that halted two years of full-scale fighting between Hamas and Israel.

A tale of two Koreas
North accepts South's apology over civilian drone incursions
Kim Yo-jong, the influential sister of North Korea’s leader Kim Jong-un, has accepted an apology from South Korean President Lee Jae-myung over drone incursions across the border. The rare conciliatory gesture was made after South Korean civilians reportedly violated government policy by sending drones into North Korean airspace, which North Korea subsequently shot down. According to Kim, the North Korean leader viewed the apology as “a manifestation of a frank and broad-minded man’s attitude”. Kim has often made comments on Pyongyang’s external policy that are believed to reflect her brother’s views. An investigation into the drone incursions revealed that a National Intelligence Service employee and an active-duty military official were involved. Lee said that the duo had violated South Korea’s constitution, which forbids acts of provocation against North Korea.

North distancing itself from Iran in hopes of new US relationship
South Korea’s National Intelligence Service reported that North Korea has been distancing itself from longtime partner Iran while carefully managing its public messaging to preserve the possibility of a new relationship with the US after the Iran war. North Korea has not sent weapons or supplies to Iran so far, with no public condolences issued upon the death of Supreme Leader Ayatollah Ali Khamenei. Pyongyang had only issued two toned-down messages that were consistent with North Korea’s recent tendency to avoid direct criticism of US President Donald Trump.

South intelligence: Daughter is successor
South Korea’s National Intelligence Service also believes that Kim Jong-un’s teenage daughter has been positioned as his successor. The agency cited a recent public display of her driving a tank as proof, saying it was meant to highlight her supposed military aptitude and dispel doubts over a female heir. This follows earlier images of her firing a rifle at a shooting range and using a handgun, with such scenes intended to pay homage to Kim’s own public military appearances during the early 2010s when he was being prepared to succeed his father. However, an analyst has pointed out that the teen’s tank appearance alone was insufficient to conclude her status as heir, since she appeared alongside her father rather than independently. Kim’s daughter is reportedly named Ju-ae and is around 13 years old.

Tech and business
More room for AI rally - Strong AI demand behind rising GPU prices
Carmen Li, CEO of data transparency firm Silicon Data, said the firm’s pricing data show broad price increases across older and newer Nvidia GPUs used to train and run AI models. The numbers suggest that demand for AI compute still outpaces supply, with Li saying that the market has not followed the usual pattern in which prices rise when a new chip is released, then gradually ease as supply improves. Instead, pricing has remained elevated and even moved higher, a sign that capacity constraints are still biting. These constraints have even kept prices firm for older hardware.

China's "Hermes of gold" reports 221% revenue jump, chairman shrugs off falling gold prices
Beijing-headquartered Laopu, dubbed the “Hermes of gold” by social media users, is a homegrown darling of Chinese investors, with the firm’s offerings, which emphasise traditional Chinese craftsmanship, setting it apart from Western competitors. This has allowed the brand, which operates 45 stores across 16 cities in China, as well as international locations, to a reported revenue of CNY27.3 bil (RM15.98 bil) in 2025, with net income up 230% to CNY4.87 bil. Notably, Laopu does not price its products by weight or adjust them in line with global gold price fluctuations. Instead, it typically raises listed prices two to three times a year. A recent investor briefing saw Laopu chairman Xu Gaoming shrugging off the recent decline in gold prices, with Xu saying that the brand has never said it was long-term bullish on rising gold prices. The strategy is to maintain strong market performance regardless of whether gold prices are rising or falling. Xu is confident that the brand’s products can maintain a good premium even when gold prices decline.

Shorts

1. EUR500 compensation for Italian Netflix customers?
   Streaming giant Netflix may have to reimburse up to EUR500 (RM2,325.76) per customer in Italy, depending on their subscription plan, following a court judgment that its contract has clauses that fail to comply with Italian law. The clause in question stipulated that Netflix did not need to justify each increase in subscription prices, when, under Italian law, it was required to. As of Oct 2025, Netflix had about 5.4 mil customers in Italy. Premium customers who have been subscribing since 2017 would be entitled to EUR500, with EUR250 for Standard Plan customers. This could see Netflix forking out a total that could reach several hundred million euros.

2. Bangladesh launches emergency vaccination campaign amid measles outbreak
   The campaign targets more than a million children in a bid by the government to prevent more deaths from a fast-spreading measles outbreak that now spans 56 of Bangladesh’s 64 districts. So far, there have been 17 confirmed deaths, with 113 suspected deaths and more than 7,500 suspected infections nationwide. The campaign will prioritise children aged six months to five years, particularly those who missed routine immunisation and face the highest risk of severe complications. More about measles here.

5. FOR YOUR EYES 📺

1. The viral Lego ad featuring Messi, Ronaldo, Mbappe and Vinicius Jr. in conjunction with the upcoming World Cup. Did Lego actually get all of them into a room?

2. Meet 11-year-old Hugo Galdeano. The next Messi in the making. Also from Barcelona’s La Masia, the system that has created some of the best footballers in the world. Read more here.

3. Netflix made a documentary on Ronaldinho. Out Apr 16. Just how beautiful is his football? Watch here.