☕️ How Malaysia saved Elon Musk's SpaceX and could have owned 10% of it

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

33 games – That’s how many matches it took for the 2026 World Cup to hit 100 goals. This makes the current edition the fastest to hit the milestone since 1958. The 100th goal was scored by Liverpool forward Cody Gakpo, who plays for the Netherlands. It was the fourth goal in a 5-1 win over Sweden. The only faster tournament in history to reach the 100-goal mark was the 1954 edition of the World Cup, when it took just 20 matches. The 1954 tournament was won by West Germany.

Eight own goals – The current edition of the World Cup already has the second-highest number of own goals in World Cup history, a mere 10 days into the tournament. This is only eclipsed by the 2018 World Cup in Russia, which saw 12 own goals. However, with the 2026 edition expanded to 48 teams and 104 matches, it will come as little surprise if the number of own goals increases. So far, the US team has benefited twice already. In history, there have been only 61 own goals in the World Cup, with this year’s tournament alone accounting for almost 12% of that total.

7 hours, 20 minutes, and 40 seconds – Football fans will spend that much time across the tournament watching TV advertising as players take mandatory hydration breaks. Those not affected are likely to just see footage of the players rehydrating and hear extra tactical insight. However, fans in affected countries will be watching companies sell their products. It was reported that an average 30-second ad segment could cost between USD200,000 (RM827,600) and USD300,000 (RM1.24 mil) on Fox, with the same spot potentially costing USD750,000 if it happened during matches in the US or during the final stages. This means that advertising during hydration breaks is likely to generate more than USD250 mil in the US alone.

3. IN MALAYSIA 🇲🇾

Softening the blow of the supply-side economic crisis
Over RM4 bil available for SMEs
Economy Minister Akmal Nasrullah Mohd Nasir stated that only 14% of the allocated RM5 bil financing facility under Bank Negara Malaysia’s (BNM) Small and Medium Enterprise Stabilisation Relief Facility has been approved as of June 18. More than RM4 bil is still available for SMEs to assist them in managing their cash flow and reducing operational disruptions.

On top of the RM5 bil set aside by BNM, SMEs can also apply for additional financing guarantee facilities from Syarikat Jaminan Pembiayaan Perniagaan Bhd, which has also allocated RM5 bil for the purpose.

RM710 mil allocated to prop up the labour market
Akmal also added that, under the coordination of the National Economic Action Council (MTEN), Putrajaya has launched the RM710 mil Progressive Acceleration for Capability and Employment (PACE) package, where RM580 mil has been channelled to the Social Security Organisation (Socso) to strengthen the Employment Insurance System, while another RM130 mil is being split between HRD Corp, Skills Development Fund Corporation (PTPK) and TalentCorp for workforce training programs. Akmal added that the job market is still resilient, with the highest number of job losses recorded in Jan, when 10,658 individuals were affected. 

However, the job losses were mainly attributed to year-end transitions and business restructuring processes. The unemployment rate remained stable at around 3%. But, how about underemployment, though? According to the Department of Statistics Malaysia (DOSM), in 3Q2025, skill-related underemployment — graduates and diploma holders in low- or semi-skilled jobs — rose slightly to 1.96 mil, making up about 35.5% of employed degree and diploma holders.

Veteran politician Puad Zarkashi leaves UMNO
UMNO supreme council member Puad Zarkashi has quit the party, claiming that Johor UMNO can no longer make its own decisions, due to alleged royal interference. Puad alleged that Johor Menteri Besar Onn Hafiz Ghazi told him that the Johor palace decreed that he dissolve the Johor state assembly on June 1. Responding to Puad’s accusation, Onn denied that the palace had instructed such a thing. Instead, he had informed Puad, the former Johor legislative speaker, that the legislature was dissolved after getting royal assent, in line with proper constitutional procedures.

Meanwhile, UMNO secretary-general Dr Asyraf Wajdi Dusuki said that the main reason why Puad quit the party was that the top UMNO leadership did not consider his son as a candidate in Rengit. Asyraf acknowledged that Puad's son was young and had leadership potential but stressed that candidate selection involved multiple considerations and could not be based solely on family succession.

Durian (tak) runtuh
Malaysians will enjoy cheaper prices for durian as a bumper harvest season is set to trigger a durian tsunami domestically. Several states have recorded very low prices of Musang King, which has fallen to as low as RM9 per kilogram. But industry players say the sharpest declines are largely affecting lower-grade fruits rather than premium export-quality produce. The price drop is due to a lot of fruits not meeting export requirements, particularly for China.

However, the joy may not last long for local durian lovers as the Federal Agricultural Marketing Authority (FAMA) is implementing intervention measures, on steroids, in order to stabilise the price of durian. FAMA deputy director-general (Food Security and Operations) Faizal Iswardi Ismail announced that the agency is targeting to directly purchase 1,000 tonnes of durian worth RM7 mil through its 42 operational centres nationwide. Additionally, FAMA-supported companies and entrepreneurs have also helped absorb supply through purchases of 1,199 tonnes worth RM3.28 mil. FAMA is also using a floor price mechanism to maintain the price of RM2.70 per kilogram for kampung durian.

The science of a good durian:

Shorts:

1. Game of Thrones: Negeri Sembilan ruler to replace chieftains
   Negeri Sembilan Yang di-Pertuan Besar Muhriz Munawir is expected to swear in the new chieftains to bolster his position. Unlike other states, the Negeri Sembilan ruler is not hereditary in nature, but instead the Yang di-Pertuan is appointed to the role by four chieftains, called Undang. The Undang are themselves elected by tribal chiefs in their own territories. At the moment, two Undang seats are vacant after Undang of Sungei Ujong was removed on Apr 17 by the Dewan Keadilan dan Undang (DKU), Negeri Sembilan’s highest authority on Malay customs, while the Rembau Undang’s 2024 appointment was never formally gazetted. Muhriz is expected to install two new Undang who are friendly to him, to once and for all end the crisis.

2. Is Battersea overvalued?
   The Ministry of Finance stated that, through two independent forensic investigations conducted by Evelyn Partners and PwC, allegations of overvaluation and financial irregularities in the Battersea Power Station development project in London were baseless. With that, MoF concluded that there is no need for further investigation into Battersea Project Holding Company. Previously, former Battersea CEO Donagh O’Sullivan claimed that the investment assets in the company’s financial statements had been overvalued.

4. AROUND THE WORLD 🌎

All about tech
The memory of a trillion dollars
Micron is currently riding the AI wave so hard it’s practically airborne. The memory chip giant just reported a fiscal third-quarter revenue of USD41.46 bil (RM170.70 bil), more than quadrupling the USD9.3 bil it made this time last year. Adjusted earnings per share hit USD25.11, easily beating the USD20.78 analysts were expecting. This performance sent the stock up 15% in extended trading, pushing Micron’s market cap past the USD1 trillion mark after a staggering 700% rally over the past year.

The secret sauce here is High Bandwidth Memory (HBM) needed for the AI processors made by Nvidia and Google. Demand is so high that CEO Sanjay Mehrotra says supply shortages won't significantly improve until 2028. To play it safe, Micron has locked in 16 long-term agreements with data centres and carmakers, securing USD22 bil in financial commitments.

Their gross margins have jumped to 84.9%, proving that when you’re the only one with the goods, you can pretty much name your price. While we struggle to afford a basic RAM upgrade for our laptops, Micron is busy collecting billions from companies terrified of being left behind in the AI race. When everyone is rushing for the same gold, the guy selling the shovels, or in this case, the memory chips, is the one actually getting rich. Guess who is worse off? The consumer. We end up paying the "AI tax".

Crash course in the different kind of chips:

Apple raises prices of MacBooks, iPads as memory costs skyrocket
Even the world’s most powerful supply chain isn't immune to "RAMageddon". Apple is hiking prices across its iPad and MacBook lineups because the AI boom is hogging all the memory chips. The entry-level MacBook Neo jumped from USD599 to USD699 (RM2,466-RM2,878), while the 1TB MacBook Pro saw a USD300 spike to USD1,999.

With DRAM prices surging up to 98% in Q1 2026, manufacturers like Micron are prioritising Nvidia’s data centres over your Netflix machine. It’s a tough break for students looking for a deal, as the Neo now loses its price edge against Windows rivals.

The AI lawyer will see you now
The dream of suing someone without going broke just got a massive software update. Garfield, a tech startup that is also a regulated law firm, has successfully helped a freelancer win a case in an English court using artificial intelligence to do the heavy lifting.

The protagonist, HR consultant Tamires Camal Taquidir, used the platform to chase GBP6,000 (RM32,494.29) in unpaid fees from a hospitality company. While the defendant tried to play hardball with a GBP1,500 counterclaim to scare her off, the "robo-firm" drafted the pretrial materials for a modest fee of just GBP400. A human barrister did the talking in court, but the judge eventually ruled in her favour, awarding her GBP7,000 including costs.

Israel's "ceasefire" includes drone strikes and a refusal to leave
The concept of a ceasefire remains a loose suggestion for the Israeli military as a drone strike in southern Lebanon killed two people on Wednesday. This latest attack targeted a vehicle near Kfar Reman, followed quickly by artillery shelling in the Bint Jbeil area. This violence comes even as Lebanese and Israeli officials are literally sitting in Washington for the fifth round of talks aimed at ending the bloodshed. While the UN reports that missile trajectories have slowed down, Israeli drones are still buzzing through Lebanese airspace like uninvited guests at a dinner party.

The stakes are high because about 200,000 residents have been forcibly displaced from southern Lebanon, and while some are trickling back to towns like Abbasiyeh, the security situation is a mess. US Secretary of State Marco Rubio thinks the Lebanese Armed Forces can just swap places with Israeli troops, but Israeli Defence Minister Israel Katz poured cold water on that plan, stating the military won't withdraw "even if there is an American demand." Israel insists on staying until Hezbollah is fully disarmed, while Lebanon says the attacks must stop before any deal can breathe.

Sports
IOC announces new grant for all future Olympians
The International Olympic Committee is finally opening its wallet to help athletes who aren’t exactly swimming in sponsorship deals. A new "fit for the future" grant will provide USD10,000 (RM41,173) to every Olympian for each Games they compete in, regardless of whether they stand on the podium or finish last.

With a massive USD140 mil fund set aside for each cycle, roughly 14,000 athletes are expected to benefit, starting with those heading to the 2026 Winter Games. It’s not "prize money" per se, but rather a way to support career transitions and training costs. It’s about time they realised that "passion" doesn't always pay the bills. 🏅

Ronaldinho trades retirement for Italian lower-league return at 46
The most famous smile in football is making a comeback that nobody saw coming. Brazilian legend and 2005 Ballon d’Or winner Ronaldinho has officially come out of retirement to sign for Ravenna, a club in Italy’s third-tier Serie C. Despite not playing professional club football since 2015, the 46-year-old is joining the side that plays at a 12,000-capacity stadium thanks to a long-standing friendship with club owner Ignazio Cipriani. While Ravenna isn't exactly the San Siro, Cipriani is betting on the "extreme level of PR" to fuel his ambitions of reaching Serie A. Let’s face it, watching a middle-aged Ronaldinho do step-overs in the lower leagues is still more entertaining than most modern tactical masterclasses.

Venezuela’s double earthquake disaster
Venezuela is facing a humanitarian catastrophe after two massive earthquakes struck near Caracas during a public holiday. A magnitude 7.2 tremor hit first, followed less than a minute later by a magnitude 7.5 quake, leaving the capital and surrounding areas like La Guaira in ruins. While the official death toll stands at 164, the US Geological Survey warns the final figure could exceed 10,000 as rescue teams dig through the debris of dozens of collapsed buildings. Interim President Delcy Rodriguez has declared La Guaira a "disaster zone," with the city’s main airport shut down and social media restrictions hampering communication. In a country already battered by years of economic mismanagement, this is the last thing the people need (dugaan betul).

5. FOR YOUR EYES 📺

1. How Malaysia saved Elon Musk’s SpaceX in its early days, and also could have owned 10% of it. SpaceX, which recently got listed, is worth USD2 tril. Story told by Dr Ahmad Sabirin Arshad, now the Group MD of Boustead Holdings Bhd - read here. And Elon Musk confirming his stories.

2. How airconds shaped the future of Singapore, and also Malaysia.

3. Hikikomori, or severe social withdrawal.