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  • ☕️ PM Anwar teases major investment to be announced this week, representing govt's "highest commitment"

☕️ PM Anwar teases major investment to be announced this week, representing govt's "highest commitment"

MACC: 20 individuals identified still holding RM12 bil+ of 1MDB assets Highlights of Securities Commission 2022 Annual Report. Sweet deal for acquirer of failed Silicon Valley Bank's assets.



20 individuals, including two aides to a former PM, have been identified by MACC as having assets abroad linked to 1MDB in the form of properties, cash, shares, paintings and jewellery. The assets held by these 20 individuals amount to about RM12.4 bil or 30% of the remaining 1MDB-linked funds that MACC is trying to recover. MACC chief commissioner Azam Baki shared that more than 70%, or about USD28.,93 bil have successfully been recovered so far.

RM2,000 fine or up to 6 months jail - the punishment for car park hogging or “chupping” parking for a first-time offence (double it for subsequent offences), an offence under Section 50(3) of the Road Transport Act 1987. “Chupping” includes placing chairs/motos/cones/flower pots/hanging clothes/standing in parking spaces. This issue again went viral after a woman uploaded a video of a parking hogger at the MATTA Fair. The public can make a report to JPJ if this happens - steps shared towards the end of the article here.

1,997 seconds (~33 mins) is all it takes to start a nuclear war by North Korea against the US. A Beijing Institute of Electronic System simulation found that North Korean intercontinental ballistic missiles (ICBMs), likely nuclear-capable missiles with an operational range of up to 12,800 km, could hit the entire US homeland in less than an hour. The simulation set Columbia, Missouri, as the target. The study also pointed out potential gaps in the US’ satellite-aided system for tracking missiles. For those interested in military affairs, the report can be read here.


PM Anwar teases major investment to be announced this weekPM Anwar said a new investment that represents the government’s “highest commitment” will be announced either this Thursday or Friday, in conjunction with his 3-day official visit to China beginning on Wednesday. No further details were provided. This better not disappoint. We don’t want some overhype announcement like Tesla merely opening a shop in Malaysia.

Busy day for justice

  • More than a hundred Orang Asli seek to nullify their Islam status137 Orang Asli from the Bateq Mayah ethnic group in Pahang filed the writ of summons at the KL High Court to squash their Islam status. The case papers alleged that 57 of the plaintiffs were the victims of a forced mass conversion by officials from the Orang Asli Development Department (Jakoa) in 1993. 30 years ago, the officials from Jakoa allegedly issued threats to the village head and the villagers so that they convert to Islam or else they will face serious repercussions.

  • Federal Court will be empowered to commute death sentencesPutrajaya had tabled a bill where the Federal Court will be given the power to review and subsequently change a death sentence to less severe punishments. If the bill is passed, it will provide a possible new lease of life to 840 death row inmates. On top of that, the Government is also in the midst of passing a separate bill that will abolish mandatory death sentences altogether, where hopefully, in the future, the only punishment is imprisonment.

Prasarana Malaysia is in deep waters

  • ‘Kissing trains’ victims are suing Prasarana Malaysia and Rapid RailSeveral victims of the infamous 2021 Kelana Jaya Light Rail Transit (LRT) train crash are suing Prasarana Malaysia and its subsidiary Rapid Rail Sdn Bhd for damages. The train crash that happened on the evening of 24 May 2021 seriously injured 47 passengers when a train ferrying 213 passengers collided with an empty train that was conducting a test run in a tunnel between the Kampung Baru and KLCC stations.

  • MRT Kajang Line breakdownDuring yesterday’s morning rush hour, a train between the MRT Pusat Bandar Damansara and MRT Phileo Damansara stations suffered a brake and power problems. It took about 30 minutes for the technicians to resolve the problem before normal train service resumed. The same Rapid Rail Sdn Bhd that operates the LRT lines also operates our MRT lines. It is unacceptable for the MRT Kajang Line which is merely 7 years old to experience an unscheduled issue like what happened yesterday. In train years, the MRT Kajang Line is still a toddler. As a comparison, Singapore’s North-South MRT Line is already 35 years old.

Big L for the Government

  • Zahid can now travel the globeThe Court of Appeal has allowed the passports (personal and diplomatic) of Deputy PM Zahid Hamidi to be returned permanently, so now his bail is only RM2 mil without any other strings attached. Previously, the handover of his passports was part of the bail condition for his Yayasan Akalbudi corruption trial. Interestingly during the hearing of the application for the passports, prosecutor Abdul Malik stated he had received instructions not to object to the application.

  • Deputy minister being warned in the Parliament for her failure to answer a questionDuring the minister’s question time, deputy speaker Ramli Nor reprimanded Deputy Education Minister Lim Hui Ying for failing to prepare a response to a question from an Opposition MP regarding her ministry plans on nutritious meals at school.


  1. Machang MP Wan Ahmad Fahysal had submitted an emergency motion in the Parliament to discuss the economic impact of PM Anwar’s visit to Saudi Arabia as during the visit, PM Anwar did not meet with either King Salman Abdulaziz Al Saud or Crown Prince Mohammed Salman Al Saud.

  2. Property changing hands overseas as Gamuda Bhd partnered with a UK based real estate investor, Castleforge Partners Ltd to purchase an eight-storey commercial building Winchester House London for RM1.39 bil. The purchase is part of Gamuda’s strategy to quickly flip real estate projects with high returns within investment time frame of five years or less.

  3. On the other hand, Genting Bhd and Genting Malaysia Bhd’s shares rallied on Monday after rumours circulated that Genting Malaysia Bhd will exit the Miami property market with a huge profit. Given that the company manages to sell its property assets for at least USD1 bil, it will cash in a whopping RM2.9 bil in gain on disposal. At the moment, Genting Malaysia received five offers, with the highest one just shy of USD1.5bil.

Securities Commission Annual Report 2022

Some of the key highlights from the report:

  • Total capital market size grew by 2.2% YOY from RM3.5 tril in 2021 to RM3.6 tril in 2022. On the other hand, the Islamic capital market grew by a measly 0.6% YOY to RM2.3tril.

  • Total equity and debt fundraising enjoyed double-digit growth of 36.6% YoY in 2022, expanding to a size of RM179.4 bil in 2022. However, for the fund management industry, the assets under management (AUM) declined by 4.7% YoY to RM906.5bil in 2022.

  • The average daily transaction value of the local digital asset market fell 55.05% to RM25.75 mil in 2022 (brrrr, crypto winter) from RM57.29mil in 2021.

Other than that, Securities Commission (SC) chairman Awang Adek Hussin stated that the commission is in the midst of finalising the LEAP Market Transfer Framework, which will be rolled out soon. The framework will smoothen the transition of companies from the LEAP Market to the more liquid ACE Market. At the moment, any companies interested in being listed in the ACE Market need to be delisted from the LEAP market first.

You can view the full report here.


Germany suffers largest strikes in decades by public transportation workersAirports, bus stations and train stations across Germany came to a standstill on Monday as a 24-hour strike called by public transport workers’ unions was underway. The two unions, Verdi and EVG, representing a combined 2.7 mil transportation workers, are negotiating for a raise of at least 10.5%  or EUR500 per month for its members as Europe’s biggest economy is reeling from inflation, which hit 9.3% in February. 

For integrated resort operators (i.e. casinos), SGD9 bil is the price tag for “business certainty” in SingaporeIntegrated resort operators Marina Bay Sands (MBS) and Genting Singapore, the operator of Resorts World Sentosa, have each pledged SGD4.5 bil to expand and offer new non-gaming attractions. In return, the government would provide them with “business certainty” by ensuring no casinos will be built in Singapore until end-2030. 

In the case of MBS, it has received approval for a second extension to commence construction on its new projects no later than 8 Apr 2024, affected by the pandemic. It has now up to 8 Apr 2028 to complete its expansion of a 1,000-room hotel tower and a live entertainment space arena capable of seating 15,000, amongst other facilities, which it announced in 2019. 

Failed Silicon Valley Bank (SVB) found a buyer for a large chunk of itselfFirst Citizens Bank, which describes itself as the largest family-controlled bank in the US founded in 1898, has acquired USD72 bil of SVB’s assets at a USD16.5 bil discount or about 23% cheaper. It also got an additional sweetener with the Federal Deposit Insurance Corporation entering into a “loss-share transaction” - the FDIC will reimburse First Citizens for half of any losses above USD5 bil on the portfolio of commercial loans transferred in the deal. 

The deal terms is partly explained by the tepid interest in SVB  assets, as investors were more focused on the ongoing sale process for the First Republic, which itself is on shaky legs, but has yet to collapse. The SVB chapter is not over yet as the FDIC still has around USD90 bil in securities and other assets of SVB under receivership. 

Crypto world

  1. Coinbase, one of the world’s largest crypto exchanges, shared in a recent blog post that it is working to develop ‘fiatcoins’ - stablecoins that track inflation rates to allow investors to preserve their purchasing power.

  2. Binance Inc, the world’s largest crypto exchange and its CEO Changpeng Zhao (aka CZ) were sued by the US Commodity Futures Trading Commission (CFTC)for allegedly breaking derivative rules by not registering with it whilst serving US customers. The probe by CFTC has been ongoing since 2021.


  1. Social media influencer Jen. Chia (IG: soimjenn) shared her experience of meeting Stephen Chow, the legendary actor in Shaolin Soccer and Kung Fu Hustle over a meal after her followers supported her via an IG comment.

  2. How much OnlyFans make? We break it down below.

  3. This dope picture of Pope Francis in a stylish white puffer jacket is fake - generated by an AI programme called Midjourney. Whenever we come across images/videos online now, really got to think twice and cross-check its authenticity.