☕️ Thailand-Cambodia unconditional ceasefire courtesy of Madani government

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

In 1932, US fast-food chain White Castle commissioned an experiment to prove its burgers were safe to eat, since Americans at the time were wary of ground beef after journalist and author Upton Sinclair exposed the poor hygiene of meat processing factories. The experiment? Get someone to eat only White Castle burgers, known as “Slyders”, and water for 13 weeks. University of Minnesota medical student Bernard Flesche stepped up, eating up to 30 burgers a day. At the end of the experiment, there was no apparent effect on his health, though he reportedly “never willingly ate hamburgers again”. A totally different time than Morgan Spurlock’s 2004 “Super Size Me” documentary, where Spurlock ate McDonald’s three times a day for a month. He gained almost 11kg, experienced mood swings, sexual dysfunction, and took 14 months to lose the weight he gained. As a result, McDonald’s introduced a more health-conscious menu.

Actress Umie Aida took an apple to eat during a flight to New Zealand, where she was headed for work, but forgot about the apple after dozing off. That apple ended up costing the actress NZD400 (RM1,000), after airport staff scanned her bag, found the apple, and fined her for it. According to New Zealand Customs, items such as fruits, meat, dairy products, and plants must be declared on arrival. A netizen shared that someone they knew was fined the same amount because of a hard-booiled egg.

The world really loves matcha. In 2024, Japan’s green tea exports rose 16% by volume, but rose 25% by value to JPY36.4 bil (RM1.04 bil), according to the Japanese Ministry of Agriculture, Forestry, and Fisheries. However, Japan is having a tough time keeping up with global demand. Not only is the heatwave weighing down on harvests due to the heat damaging bushes, new fields need five years before they can be harvested as well. This supply bottleneck, coupled with rising demand, is currently driving prices up for the tea, which has already increased 170% from last year.

3. IN MALAYSIA 🇲🇾

MOH intends to impose full ban on vape
After much debate on the smoking ban, the Health Ministry is making a move towards fully banning the sale of vape and e-cigarette products. Health Minister Dzulkefly Ahmad, who stressed the importance of imposing an ultimate ban on open system vapes, stated his ministry is currently evaluating the effectiveness of the Control of Smoking Products for Public Health Act (Act 852) before taking action.

This ban on open system vapes is believed to have more ‘bite’ and will cover e-cigarettes as well. This is crucial as police investigation papers found 70% of vape products (both open and closed systems) were found to contain illegal substances.

For context, an open-system vape or e-cigarette refers to a version where its liquid can be refilled manually, while a closed-system only allows the user to replace its pod or cartridge, or replace the device entirely. Notably, the Health Minister said the police had opened 64 investigation papers last year and found that 80% contained drugs, including methamphetamine and synthetic cannabinoids.

Government: Median wage for M’sia’s formal sector at RM3,000
The Department of Statistics Malaysia’s (DOSM) Employee Wages Statistics Report for 1Q2025 stated that the median monthly wage for Malaysia’s formal sector rose 5.5% from RM2,844 to RM3,000, as of March this year.

Other key findings by DOSM:

• Male employees saw a 3.4% increase in wages to RM3,000, while female employees saw a 6.5% increase to RM2,982 in wages

• The highest year-on-year wage growth was recorded among workers under the age of 20, with their median wage rising 13.3% to RM1,700 (mainly due to the reimplementation of the minimum wage policy )

• Despite only accounting for just 0.6% of Malaysia’s total formal employment, the country’s mining and quarrying sector posted the highest median wage at RM8,800; in contrast, the agricultural sector recorded the lowest median wage of RM2,200

• The Federal Territory of Kuala Lumpur recorded the highest median monthly wage at RM4,445, followed by Selangor at RM3,300; while Kelantan and Perlis recorded the lowest median wage at RM1,800, with Sabah having posted a median wage of RM2,000. (Watch: a Sabahan sharing how RM1,800 was considered ‘too high’ of a salary in her home state)

• A vast income gap where the top 10% earn six times more than the bottom 10% (gulp!)

View DOSM’s report here.

Business

Jakel Group may come to Pharmaniaga Berhad’s rescue by buying 10% stake
Wholesaler and retailer Jakel Group, through its Jakel Medical Sdn Bhd (yes, Jakel Group’s portfolio is rather vast), is reported to be interested in securing a 10% stake in Pharmaniaga Berhad through a new share placement offer which will see RM289.3 mil raised. Other interested investors in Pharmaniaga’s offer include Great Eastern, Koperasi Angkatan Tentera Malaysia Bhd and shipping tycoon Tan Sri Halim Mohammad. If this deal takes place, Jakel Group will be the second-largest shareholder of Pharmaniaga after Lembaga Tabung Angkatan Tentera.

For context, Pharmaniaga is attempting to exit its Practice Note 17 status, failing which it may be delisted from Bursa Malaysia’s stock index. It slipped into PN17 status in February 2023 due to unsold supplies of Covid-19 vaccines worth around RM552.3 mil.

MyEG will no longer provide foreign permit renewal
MyEG Services Berhad, which recently pivoted to AI, blockchain and robotics under its new name Zetrix AI, will no longer be involved in the renewal of foreign worker permits. The company’s contract with the government ended following the finalisation of a six-year contract with Bestinet Sdn Bhd for the use of the Foreign Workers Centralised Management System. This announcement caused a significant drop in Zetrix AI’s share price, from RM0.90 per share to as low as RM0.80, before settling at RM0.84 by Monday’s end. Given Zetrix AI/MyEG’s past controversies, such as allegedly collecting illegal fees to renew foreign workers permits and forcing the purchase of mandatory insurance policies, perhaps it’s best for the Government to part ways and have a fresh start?

Shorts

1. LRT Kelana Jaya Line to face near 3-month disruption

   Those commuting along the Kelana Jaya LRT line: brace yourselves! The LRT line is set to face disruption between Aug 9, 2025 and Nov 2, 2025. The reason? Prasarana is conducting phased upgrades on the line’s Automatic Train Control signalling system. Prasarana will deploy free shuttle buses and vans, as well as trained personnel to ensure a smooth commuting process.

2. DBKL fines unlicensed ‘KLCC Photographers’

   With Kuala Lumpur being a popular tourist destination, it is no surprise that some Malaysians are offering their photography skills to tourists exploring the KLCC area. However, the Kuala Lumpur City Hall (aka DBKL) did not approve of such services, citing in its social media post that “some of these activities take place on roads or pedestrian walkways, endangering both photographers and clients, and disrupting public movement.” Warning that repeat offenders will have their equipment confiscated, DBKL was reported to have fined a total of 41 photographers each RM2,000.

4. AROUND THE WORLD 🌎

Thai-Cambodia ceasefire courtesy of Madani government
The two clashing nations have agreed to an unconditional ceasefire, effective from midnight last night, following peace talks suggested and mediated by our own PMX. PM Anwar also said the ceasefire is among the common understandings reached by the leaders of the two nations. He also credited US President Trump for contacting both Thai Acting PM Phumtham Wechayachai and Cambodian PM Hun Manet and counselling peace, with China mentioned as having kept close contact with all relevant countries to promote peace as well.

Thailand and Cambodia have both committed to convening an informal meeting of the regional commanders involved, followed by a meeting with the defence attaches led by the ASEAN chair if both sides agree. A further commitment is another meeting of the General Border Committee to be hosted by Cambodia. Both sides have been instructed to develop a “detailed mechanism” for the implementation, verification, and reporting of the ceasefire.

However, it should be noted that Trump did announce on Sunday that he would not conclude trade deals with either Thailand or Cambodia unless they ended their fighting. Guess war suddenly became a lot less profitable.

US, EU strike tariff trade deal
Trump met with European Commission President Ursula von der Leyen in Scotland, where the two came to an agreement regarding the tariff situation between the two entities. The EU gets a 15% tariff on most goods, a significant reduction from the threatened 30%, but still higher than the 10% originally sought by the EU. In return for this, the EU will be ramping up investments in the US, with Trump announcing that the EU will be purchasing USD750 bil worth of energy from the US, while investing a further USD600 bil. The EU also agreed to purchase a “vast amount” of military equipment from the US.

Still, there are some exceptions, such as steel, where the EU will get the same 50% that Trump had earlier set for all countries worldwide. As an aside, the US has also paused curbs on tech exports to China to avoid disrupting trade talks with Beijing, with the Commerce Department also told to avoid tough moves on China. This comes ahead of planned talks between US and Chinese economic officials in Stockholm.

Tesla, Samsung ink USD16.5 bil deal for AI6 chips
This was announced by Tesla CEO Elon Musk, who said that Samsung Electronics will be providing the EV maker with next-generation AI6 chips. This follows Samsung’s announcement that it had secured an eight-year agreement with a “major global company” for the same amount, though the tech giant did not confirm the client was Tesla, citing confidentiality. The deal sees Samsung’s new Texas fab dedicated to making Tesla’s AI6 chips, and is expected to be a major boost for the electronics giant, which has faced headwinds in its foundry business. The foundry operations are also attributed as the cause of Samsung’s slump in operating profit. Samsung Electronics’ chip business posted an operating profit of KRW1.1 tril (USD792.4 mil) in the first quarter, down from the previous quarter and the same period last year, though revenue rose year-on-year to KRW25.1 tril (USD18.1 bil).

Scandal at Shaolin Temple
Shi Yongxin, the abbot of Shaolin Temple, is currently being investigated by multiple agencies for embezzlement, “improper relations with multiple women”, and “fathering illegitimate children”. Shi has also been stripped of his ordination certificate – his proof of acceptance into the monastic community – amid the probe, according to China’s Buddhist association. The “CEO monk”, as Shi was nicknamed, became the 1,500-year-old temple’s abbot in 1999, and is credited for transforming the institution into a global brand through the opening of schools outside China and the formation of a travelling troupe of monks who performed the temple’s signature school of martial arts. He was previously investigated in 2015 for similar allegations, along with receiving expensive gifts from companies and local governments. He was cleared of the charges. Did you know Shaolin Temple came under fire in 2015 over a plan to build a USD300 mil temple complex that included a hotel, a kung fu school, and a golf course? Not surprised if Trump swoops in and wants to name it Trump Temple.

Tragedy strikes

Three dead after sewage spill derails train in Germany
An overflowing sewage shaft caused a landslide that derailed a passenger train in south-west Germany, leaving three dead and 41 injured. The deceased were identified as the train driver, another rail employee, and a passenger. Around 100 people were on board the train when at least two carriages derailed while the train was travelling the route between Sigmaringen and Ulm.

Bangkok market mass shooting leaves 6 dead
Five people were killed in a mass shooting at Or Tor Kor Market in Bangkok, where a Thai gunman shot four security guards and a worker at the market before turning the gun on himself. Police are investigating, but have confirmed that the shooting is unrelated to Thailand’s ongoing conflict with Cambodia. It was also confirmed that the gunman had disputes with the market’s security guards before. Gun ownership rates in Thailand are high for the region, and while mass shooting incidents are not common, there have been several shootings in recent years. View incident here (warning - graphic).

5. FOR YOUR EYES 📺

KYC - Know Your Credit Card

1. The old and new technology inside your card.

2. Not some random numbers - the information behind these figures.

3. If you are interested in numbers, view here the statistics on payment instruments in Malaysia (i.e. credit card, e-money) by BNM.