☕️ Rarer than eclipse - Singapore minister charged with corruption, biggest graft case in 40 years

1. MARKET SUMMARY 📈

Wild week for Bursa Malaysia with various counters continue hitting limit down. 906 counters where in the red, 157 counters gained and 316 unchanged yesterday.

2. NUMBERS AT A GLANCE 🔢

Despite the positive economic indicators such as a slowdown in inflation, reduced petrol prices, availability of jobs, a rise in incomes, and a strong stock market, surveys reveal that Americans are not content with the state of the economy. Two-thirds of the respondents in a Gallup poll conducted in November 2023 disapproved of Joe Biden's economic policies. Does this spell the beginning of Donald Trump’s reign once again?

Malaysia's total industry volume (TIV) reached a record high of 799,731 units in 2023, showing an 11% year-on-year increase from the 721,177 units sold in 2022, according to the Malaysia Automotive Association. The growth was primarily driven by the passenger cars sub-segment, supported by a resilient domestic economy, a stable socio-political environment, tax-free incentives, new vehicle launches (including electric vehicles with competitive prices), and an improved industry supply chain environment, said President Mohd Shamsor Mohd Zain. Electrified vehicles (hybrid + full EV) accounted for about 5% (38,214 units), a sharp rise of 69% YoY.

The Immigration Department director-general, Datuk Ruslin Jusoh, revealed that 220 undocumented migrant settlement hotspots have been identified in Malaysia. From January 1 to 16, a total of 3,262 immigrants were detained for various immigration offences, such as not having a passport, overstaying, and establishing illegal settlements. Additionally, 35 employers who hired undocumented migrants were also detained during the same period.