☕️ Open finance coming this 2027, but Malaysians will have full control over how their financial data is shared

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

At least 282. That’s the number of times Israel violated the ceasefire agreement between Oct 10 to Nov 10. According to the Government Media Office in Gaza, these violations came in the form of continued attacks by air, artillery, and direct shootings, and were conducted on 25 out of the first 31 days of the ceasefire. Israel even detained 23 Palestinians from Gaza over the same period, while continuing to block vital humanitarian aid to the enclave. Somehow, through all this, the US could still claim that the ceasefire is holding.

Our island neighbour to the south currently ranks second worldwide for stolen payment cards. Still, this does not mean they are more vulnerable. Instead, it reflects a combination of factors, such as Singapore’s high level of digitalisation and the widespread use of online payments. This comes from NordVPN’s NordStellar study, which determined that the US placed first on the list for stolen payment cards, while Spain placed third. The US alone accounts for over 60% of stolen payment cards worldwide. The study also found that, despite prices for stolen payment cards rising significantly over the past two years, card data remains cheap enough for entry-level criminals. The price of a single stolen card? About the same as a movie ticket.

97%. That is how much e-commerce crimes in Malaysia have risen between Jan to Oct this year compared to the same period last year. The 12,297 cases reported as of Oct saw losses amounting to RM110.3 mil, up 105% from the previous year. For clarity, the Bukit Aman Commercial Crime Investigation Department classifies e-commerce crime as fraud in online transactions, where criminals often used various tactics to deceive buyers. Some common tactics include offering goods at prices that are too low, refusing to provide clear business information, and using personal accounts for payment. Other methods involve creating fake reviews, pressuring buyers to make immediate payments, and using websites with weak security features. In most cases, goods are never delivered after payment is made.

3. IN MALAYSIA 🇲🇾

Open finance coming this 2027
Bank Negara Malaysia (BNM) plans to give Malaysians full control over how their financial data is shared, accessed and used starting from Jan 1, 2027. Under the proposed open finance rules, consumers will be able to decide whether banks and financial institutions can access details such as their savings, current and fixed deposit accounts, as well as credit and charge card information. This includes the past 12 months of transactions and current account balances, but only for customers who choose to opt in.

The first phase begins in 2027 for individual users, followed by small and medium enterprises from 2028. Development finance institutions and major e-money issuers will come on board from 2029, covering both individuals and SMEs. Participation is mandatory for banks with more than 100,000 customers and e money issuers with over 5 mil active users, while smaller players may join voluntarily.

BNM outlines that consent must be specific, voluntary, explicit and revocable at any time. Banks will need to provide simple dashboards for customers to view, renew or cancel their permissions. Any data shared must be kept secure, used only for the agreed purpose and deleted once consent expires. The framework also sets rules for data protection, handling breaches and managing customer complaints to ensure that institutions manage information responsibly. According to the central bank, open finance could eventually replace many manual processes by enabling digital submission and transfer of documents. The long-term aim is to encourage a wider open data ecosystem that supports both consumers and businesses across Malaysia. BNM is currently gathering written feedback on the proposal until Mar 1 2026.

Final curtain for Perak’s RM520mil animation park
The long-running story of Perak’s troubled Movie Animation Parks Studios looks close to a proper ending after IGB Bhd agreed to buy the site for RM43.65 mil. Through its unit Bintang Sentral Sdn Bhd, the company has signed a deal to take over two freehold land parcels totalling 24.3 acres in Bandar Meru Raya, Ipoh. The land is being lined up for a commercial mixed-use project that fits IGB’s core business. The original theme park, once promoted as Asia’s first fully animation-based attraction, sat on about 52 acres and opened in mid 2017 with characters such as The Smurfs and BoBoiBoy. It failed to attract strong crowds and closed permanently in Jan 2020. The park was developed for RM520 mil by Animation Theme Park Sdn Bhd, which was majority owned by Perak Corp through its subsidiary PCB Development. Financial problems surfaced when the developer defaulted on a principal payment of RM25.7 mil in 2019 on a larger term loan of RM245.1 mil with Affin Hwang Investment Bank. That default triggered further issues on other borrowings totalling RM191.8 mil. 

As a result, Perak Corp was classified as a Practice Note 17 company in early 2020 (read: PN17 companies are publicly listed companies in financial distress). Its largest shareholder is Perbadanan Kemajuan Negeri Perak, the state’s economic development corporation. In 2024, Perak Corp sold PCB to Rescene Sdn Bhd for RM1. IGB considers the newly purchased land to be a solid investment because of its price, location and existing infrastructure - price is what you pay, value is what you get. The plots sit along the North South Expressway with clear visibility from the highway, easy access to the Ipoh North Toll Plaza and convenient routes for commuters. IGB, established in 1964 and known for developing Mid Valley Megamall and The Gardens Mall, holds assets across property investment, development, construction, hospitality and real estate investment trusts.

Call for stronger values in schools

Youth violence: Malaysia is facing a worrying wave of youth violence that has everyone talking. Back in Oct, a 14-year-old boy in Bandar Utama, Selangor, stabbed his 16-year-old schoolmate to death, with the victim reportedly suffering 200 stab wounds. Just yesterday, a 17-year-old in Setapak allegedly slashed his father after being scolded for skipping school, leaving him with injuries on his back and wrist. Even earlier in Jul, a 14-year-old student punched his teacher after skipping PE class, an incident that quickly went viral online.

Alarming statistics: The numbers are just as concerning. In 2024, there were 2,627 children involved in crime. Sexual crimes involving minors reached 3,093 between 2023 and Oct 2025, with 608 happening in school areas. Mental health struggles seem to be at the heart of the problem. The National Health and Morbidity Survey 2023 found one in six Malaysian children aged five to 15 face mental health difficulties, more than double the rate in 2019. Almost half of these kids struggle with peer relationships, rejection and controlling their emotions.

Schools and guidance: The Parent Action Group for Education says schools need to focus on character as much as grades. Chairman Datin Noor Azimah suggests weaving character lessons into everyday activities, with parents and communities helping out too. Even Malaysia’s King Sultan Ibrahim has voiced concern, saying at a university convocation that these incidents raise questions about how young people are taught morality, religion and character, and that such cases harm the reputation of schools and universities.

Shorts

1. One middle finger, one hundred ringgit

   A man in Johor Baru was fined RM100 after he admitted to flipping off another driver. Kenneth Tan Kah Wee, 44, was charged for behaving in an insulting way during the incident at Jalan Pulai 62 in Skudai on Nov 1. The offence comes under Section 14 of the Minor Offences Act. The court told him to pay the fine or spend two days in jail.

2. Russian toddler dies after jellyfish sting in Langkawi

   A two-year-old Russian boy, Vladimir Iakubanets, died four days after being stung by a jellyfish while swimming at Pantai Cenang in Langkawi. He stopped breathing shortly after the sting and was taken for treatment, but complications continued and he passed away at Hospital Sultanah Bahiyah. His parents, Nikita and Olga, plan to cremate him in Malaysia before returning to Russia.

4. AROUND THE WORLD 🌎

US judge clears Meta, Facebook keeps Instagram and WhatsApp
A US judge has thrown out the Federal Trade Commission’s (FTC) big antitrust case against Meta, saying the agency didn’t prove Facebook still holds monopoly power especially with how fast social media has changed thanks to TikTok, YouTube, and other platforms. The court noted that Meta’s buyouts of Instagram (price: USD1 bil) and WhatsApp (price: USD19 bil) were previously reviewed and cleared and ruled that the FTC failed to show continued dominance. The FTC has said it’s “deeply disappointed” and is still weighing whether to appeal, meanwhile Meta dodges a breakup of its prized apps. Mark Zuckerberg and Instagram boss Adam Mosseri are heading to court soon in a separate civil case tied to claims that Meta’s platforms are addictive and harm young users hinting that Meta’s legal battles are far from over.

Paramount’s USD71 bil bid shakes up Hollywood
Paramount Skydance is gearing up to make a massive USD71 bil (RM294.65 bil) bid for Warner Bros Discovery, though it denies claims that Saudi, Qatari and Abu Dhabi wealth funds are helping bankroll it. The proposal would see Paramount put up most of the money, with the rest supposedly coming from the funds in exchange for tiny stakes and some perks like an IP or movie premiere. Warner Bros Discovery, owner of HBO, CNN, DC Studios and more, is struggling with a declining TV business and is weighing a breakup or full sale, with first-round bids due Thursday. The politics around media coverage under the Trump administration are also hanging over the deal, especially with CNN and CBS involved, raising antitrust and media-freedom concerns. Netflix and Comcast are sniffing around too, but Paramount is reportedly the only one eyeing a full takeover. Shares for all the media giants in the mix ticked up after the news.

Loose wire caused Baltimore bridge disaster
Months-long US investigation has found that a single loose wire on the Dali container ship triggered the catastrophic collapse of Baltimore’s Francis Scott Key Bridge last year. The faulty wiring caused two blackouts in Mar 2024, knocking out the ship’s propulsion and steering before it slammed into the bridge, killing six highway workers. Investigators also confirmed the crew tried but failed to divert the ship because of the electrical failures, while the pilots acted quickly to alert authorities, allowing officials to stop traffic on the bridge. The collapse went viral after livestream footage captured the structure dropping into the water. Like straight out of a movie scene - watch here. The shipping channel reopened in Jun, but officials say the bridge itself won’t be back in service until 2030, with repairs expected to cost USD4.3 bil to USD5.2 bil (RM17.84 bil - RM21.58 bil).

Ultra-processed foods a growing health threat
Ultra-processed foods (UPFs) line up most of the shelves in supermarkets and grocery stores nowadays. They are made mostly from refined ingredients and preservatives, often laden with sugar and salt, usually ready-to-eat and are convenient, while clad in very colourful and effective marketing. These ubiquitous snacks and treats are now considered a growing global health threat. Researchers published three papers on the topic in The Lancet (The Lancet is a highly regarded medical journal founded in 1823). The papers look at links between consuming UPFs with heath issues, how UPF consumption is increasing around the world and how massive corporations changed global diets using aggressive marketing to sell products with cheap ingredients and processes.

There’s a saying about modern processed goods: “Don’t eat anything your great-grandmother wouldn’t recognise as food”.

The authors are urging governments to introduce warning labels, restrict marketing aimed at children, and levy taxes to make fresh food more affordable for low-income households. UPFs already account for over half of daily calories in countries such as the US, UK, and Australia, with a handful of major companies including Nestlé, PepsiCo, Unilever, Coca-Cola, Danone, Mondelez, Kraft Heinz, and Fomento Economico Mexicano driving much of the global market. While debates continue over the Nova classification system, potential harms stem from high-calorie additives, and formulations that encourage overeating. Researchers also slammed industry efforts to question the science, comparing them to Big Tobacco, and said urgent action is needed to protect the people.
You can read the articles about UPF here.

Land of the rising sun

Japan set to restart biggest nuclear plant
Japan is expected to approve the restart of the world’s largest nuclear plant this week as Niigata governor Hideyo Hanazumi will greenlight bringing one reactor at the Kashiwazaki-Kariwa facility back online. This is the first restart for Fukushima operator Tepco since the 2011 disaster. After the meltdown, Japan shut down all its reactors, though 14 have since resumed under stricter safety rules, and the government continues to push nuclear power as a stable, low-carbon option to meet its 2050 carbon-neutrality goal. The move comes as the country also grapples with the decades-long task of decommissioning Fukushima, where engineers recently sent in robots to begin preparing for the removal of highly radioactive, melted fuel.

Massive fire hits Oita city
A massive fire tore through the coastal Saganoseki district of Oita city on Wednesday, destroying more than 170 buildings and marking Japan’s biggest urban blaze in almost 50 years. Aerial footage showed homes reduced to rubble as strong winds pushed the flames across hillsides and even to an uninhabited island offshore, forcing 175 residents to evacuate. The fire, which began on Tuesday evening and has scorched nearly 49,000 square metres, left one person dead and sent a woman in her 50s to hospital with minor burns. Prime Minister Sanae Takaichi offered condolences and promised full government support, as power cuts hit around 300 homes. The cause is still under investigation, and officials note this is the largest non-earthquake-related fire since the 1976 Sakata blaze.

5. FOR YOUR EYES 📺

Animals today

1. The 2 new pandas to Malaysia, Chen Xing and Xiao Yue, are here! But first, both will have to be quarantined and will only be introduced to the public next year. Panda diplomacy ain’t cheap. The 2 pandas that cuti-cuti Malaysia in 2014 to 2016 cost the country RM30.21 mil.

2. Mate first, eat later - sexual cannibalism. Green anacondas are especially suited to sexual cannibalism because of the massive size difference between sexes - 9 feet on average for males, and 12 feet on average for females.

3. Two GOATs walking, according to the White House. Cristiano was invited to the White House alongside Saudi Crown Prince Mohammad bin Salman. What’s the relation? Ronaldo plays for Saudi Pro League club Al-Nassr.