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- ☕️ Illegal racing to be a specific offense under new bill
☕️ Illegal racing to be a specific offense under new bill
Yakult wins court battle to be categorised as fermented milk vs beverage - why it matters. 100+ hospitals got cyberhacked, and survived.
Finance Finlit & The Coffee Break
June 24, 2026
1. MARKET SUMMARY 📈
2. NUMBERS AT A GLANCE 🔢
5 phases – According to researchers at the University of Cambridge, the brain goes through five distinct phases of life. These phases are childhood, adolescence, adulthood, early ageing, and late ageing. The key turning points were at ages nine, 32, 66, and 83. The researchers said the results of the study, which scanned around 4,000 people up to the age of 90, could increase understanding of why the risk of mental health disorders and dementia varies throughout life.
50% – A series of reports by Tabung Haji in Aug 2025 revealed that more than half of Malaysian Muslims who should be saving for hajj have not yet opened an account with the Islamic financial institution. Tabung Haji reported having 9.6 mil depositors at the time of the reports, which was estimated to be about half of Malaysia’s Muslim population, based on an estimated total Malaysian population of 34 mil.
148 years – After a Malaysian Muslim registers for hajj, they may face a waiting period of up to 148 years. This was the case as of 2023. The figure was brought up following reports from Tabung Haji in Aug 2025 about how 53% of its existing depositors had not yet reached the minimum savings threshold of RM1,300, the amount required to register for hajj. In other words, from the approximately 30,000 hajj slots offered each year, around 15,000 depositors are forced to forgo the opportunity due to financial limitations.
3. IN MALAYSIA 🇲🇾
A shake-up could be coming to prosecutor appointments
A major change could be coming to how Malaysia appoints its public prosecutor. Under proposed constitutional amendments, Parliament would be given a formal role in scrutinising candidates, while the Prime Minister and Cabinet would be completely removed from the appointment process. The move is part of broader plans to separate the roles of Attorney General and Public Prosecutor, a reform that has been debated for years.
If approved, candidates would be recommended by the Judicial and Legal Service Commission before being reviewed by Parliament and appointed by the Yang di-Pertuan Agong. Other proposals include a fixed seven-year term, annual reporting to Parliament and a dedicated code of ethics. Supporters say the changes are aimed at strengthening the independence and accountability of the prosecution system by reducing political involvement in key appointments.
Tougher penalties proposed for illegal racers and tontos
Malaysia could soon get tougher on illegal street racing, with proposed amendments to the Road Transport Act introducing a specific offence for racing or speed testing on public roads. Under the proposed changes, first-time offenders could face fines of between RM2,000 and RM10,000, jail time of up to two years, or both, while repeat offenders could be jailed for up to five years. One key difference is that authorities would no longer need to wait for an accident or injury before taking action. Existing laws do not specifically criminalise racing or speed testing, creating enforcement challenges.
The bill also targets so-called "tonto" activities, where individuals warn offenders about enforcement operations, share information to help them avoid roadblocks, or interfere with enforcement officers carrying out their duties. Those found guilty could face fines of up to RM50,000 and five years in prison. Separately, the government is proposing higher compound limits for selected traffic offences, although the new maximum rates would only take effect from Jan 1, 2029.
Yakult wins court battle over product classification
In a small but potentially significant win for Yakult, the High Court has ruled that Yakult Ace and Yakult Ace Light should be classified as "fermented milk" rather than "beverages" for tax purposes. The dispute began after Customs reclassified the drinks in 2025, a move that would have subjected them to higher sales tax and import duties. Beverages are imposed higher sales tax of 10% and import duty of 20% compared to 5% sales tax and 0% import duty for fermented milk. In delivering the decision, the court said Yakult’s essential character remains that of a fermented milk product, noting that consumers generally view it as a probiotic drink associated with gut health rather than a regular beverage meant to quench thirst.
The ruling overturns Customs’ earlier decision and restores the products’ original classification, which carries lower tax rates. For a product that has been sitting in lunchboxes and supermarket fridges for decades, Yakult finding itself at the centre of a tax classification battle was probably not on anyone’s bingo card.
Shorts:
PN expands its lineup before Johor election
With the Johor state election fast approaching, Perikatan Nasional (PN) has added two new names to its coalition lineup, Parti Pejuang Tanah Air (Pejuang) and Parti Cinta Malaysia (PCM). The decision was approved during the coalition’s supreme council meeting on June 22, giving PN a slightly bigger tent as campaigning gears up. Attention is now shifting to seat negotiations, with coalition leaders expected to finalise who contests where before nomination day on June 27. Early voting is set for Jul 7, followed by polling day on Jul 11, leaving little time for parties to get their election machinery fully in place.Lorry driver hailed a hero after Menora Tunnel incident
A lorry driver whose quick thinking helped prevent what could have been a major tragedy near the Menora Tunnel has been recognised by the government with a certificate of appreciation and RM10,000. Wong Tuck Meng was praised for helping bring an out-of-control express bus carrying 21 passengers to a safe stop after it suffered a technical problem on a downhill stretch on June 15. Wong stayed calm and used his lorry to help slow the runaway bus, later saying his only goal was to prevent a tragedy and keep other road users out of harm’s way. A video of the incident quickly went viral and drew widespread praise online. Watch the heroic action here.
4. AROUND THE WORLD 🌎
Cybercrime watch
Healthcare increasingly targeted by cyberterrorists
In Feb 2024, Bucharest's national cyber-security centre (DNSC) watched helplessly as hackers spread across Romania through a popular piece of medical software, Hippocrates, affecting more than 100 hospitals. The only way was to disconnect totally from the Internet, and that was what the hospitals did. It effectively stopped hackers in their tracks while cyber-experts scrambled to counter the attack. Thankfully, the hospitals recovered overnight.
How the hospitals reacted and how they coped became a test case for disaster planners internationally, as officials look for advice on responding to a mass hospital hack. One hospital said it quickly developed an offline method to register every patient and started using pen and paper to record results. The US Federal Bureau of Investigation (FBI) reported that healthcare is now the most targeted area of critical national infrastructure. Experts say that attacks on hospitals are attractive to criminals who try to cause chaos for money.
Scammers moving base to Sri Lanka
Sri Lanka is facing an “alarming increase in cybercrime” perpetrated by people entering the country as tourists. Sri Lankan police said they have carried out more than a dozen raids on alleged scam operations in the country since the beginning of the year, arresting and deporting almost 700 foreigners accused of involvement. The majority of those arrested and deported for involvement in scams this year have been Chinese citizens, but people from Vietnam, India, Indonesia, Laos, the Philippines, Malaysia and Myanmar have also been detained in raids.
Experts say that Sri Lanka has been an appealing new destination for many Chinese-run scammer networks, due to the ease of getting tourist visas and the newly introduced “digital nomad” visas. There is also limited regulation on SIM cards and internet connections, as well as a wide availability of offices and hotels to rent for a low price.
Wheels stuff
US watchdog probes Tesla after deadly crash
The US road safety watchdog National Highway Traffic Safety Administration (NHTSA) has launched a formal investigation into Tesla after a Tesla Model 3, reportedly operating in self-driving mode, crashed into a house in Texas, killing a 76-year-old woman inside.
The driver said that he had been using the Model 3’s automated driving assistance system when his vehicle left the road and struck the residence. However, Elon Musk disputed reports that the vehicle had been in self-driving mode at the time of the accident, while the company’s AI Vice President said that the driver had manually overridden the system by pressing down on the accelerator.
While Tesla markets its Full Self-Driving mode as a key selling point of its vehicles, its current technology is not strictly autonomous, requiring human supervision at all times. Tesla’s self-driving system has come under growing regulatory scrutiny in recent years amid reports of fatal crashes involving the technology.
Carro said to explore a US IPO
Southeast Asian used-car marketplace Carro is considering confidentially filing for an IPO in the US, which could raise the company as much as USD500 mil (RM2.07 bil).
Backed by SoftBank Group Corp, Carro is also considering a second listing in Singapore. Founded in 2015, Singapore-based Carro also offers services such as financing, insurance and after-sales care. In addition to Softbank, its backers include GIC and Cool Japan Fund. Carsome wen?
Shorts:
Uber set to score big from Lime's IPO
Scooter rental company Lime has reportedly filed for an IPO, targeting a price of USD24-26 (RM99.37-107.65) per share. With such pricing, Uber, an early investor and also the company’s largest shareholder, is set to earn about USD350 mil. Uber owned about 14 mil shares, or a 24% stake, ahead of the IPO. Moreover, Lime said Uber has shown interest in buying up to USD20 mil in additional Lime common stock as part of the IPO. The relationship between Lime and Uber might serve as a model. Besides Lime, Uber has also struck partnerships with around a dozen self-driving car providers over the past few years, from Waymo in the US to Baidu in Asia and the Middle East.South Korean stocks tumble 10%
South Korean stocks plummeted from a record high as investors sold off chip heavyweights, with the Kospi closing down 10%, and SK Hynix Inc and Samsung Electronics Co both sliding more than 12%. What started as a modest risk-off session mirroring losses in US tech stocks morphed into a rout with foreign investors offloading more than USD2.5 bil (RM10.37 bil) of Kospi shares. Market watchers cited a combination of forced liquidation hitting retail investors trading on borrowed money, compounded by a wave of selling tied to leveraged exchange-traded funds (ETFs) tracking the two chip giants.
