☕️ Think you are too smart to fall for scam? More educated Malaysians falling prey to online scams, says Home Minister

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Over at the Expo 2025 in Osaka, the Malaysian Pavilion has seen soaring success, with the “flying roti canai” being sold for over RM50 a piece, with about 1,500 pieces sold daily (RM75k a day!). As of early Aug, the pavilion has drawn over 2.2 mil visitors since the expo began in Apr, surpassing the original target of 1.5 mil visitors. Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz is optimistic that Malaysia can achieve its investment target of RM13 bil through its participation at the expo in Osaka.

A piece of Mars, millions of years old and the largest piece ever found on Earth at 24.7kg, was recently auctioned off at Sotheby’s New York. Both buyer and seller remain unnamed, but the price of the shiny space rock was marked at USD4.3 mil (RM18.1 mil). Less than 400 of the 50,000 meteorites discovered came from Mars, marking it as a rare find indeed in the meteorite market, a market that has been compared to the art market. The piece of the Red Planet was found in Niger two years ago, but it is unclear whether any of the auction money went to Niger, with some raising questions as to how the rock ended up under the auctioneer’s hammer in the first place. View the Martian rock here.

On a different meteorite story, scientists reported that a meteorite that crashed into a home in the state of Georgia in the US on June 26 is “older than Earth”. About 20 mil years older than Earth, as the meteorite was expected to have formed 4.6 bil years ago. Through the use of optical and electron microscopy, the science team established that the rock was a chondrite, the most abundant type of stony meteorite according to NASA. The US space agency also divided meteorites into three broad categories, namely the “stonys, stony-irons, and irons”. Chondrites are stonys. Learn more about these wonderful space rocks here.

3. IN MALAYSIA 🇲🇾

Teenagers charged over Zara Qairina abuse, inquest set
Five teenage girls were charged in the Children’s Court for allegedly hurling abusive words at Form 1 student Zara Qairina Mahathir on Jul 15. The charges, read before Sessions Court judge Elsie Primus in closed proceedings, state the abuse occurred at a school dormitory in Papar, Sabah. The case falls under Section 507C(1) of the Penal Code, read with Section 34, carrying up to a year’s jail, a fine, or both. All five pleaded not guilty. The court set bail at RM5,000 each with one surety and fixed Sept 25 for mention. The Attorney General’s Chambers earlier confirmed suspects would be charged based on evidence, while also announcing an inquest to determine Zara Qairina’s cause of death. The Coroner’s Court will begin the inquest on Sept 3.

Also, a gag order was imposed on proceedings involving the charged teenagers, preventing disclosure of case details under Section 15 of the Children’s Act 2001, which protects the identities of children involved in court cases. Zara’s family lawyer Hamid Ismail stressed the order was a legal requirement, not special treatment, and urged the public not to misinterpret it. He also confirmed the family has applied to be an interested party in the inquest into Zara’s death. Looks like our neighbour down south is facing bullying issues too - a 9-year-old took his bullying upstream, threatening a kid’s parents with death.
Learn: What is a gag order?

Adam Radlan acquitted in graft case
The Sessions Court acquitted Bersatu Segambut deputy chief Adam Radlan Adam Muhammad of 12 graft and money-laundering charges linked to the Jana Wibawa programme after he paid a RM4.1 mil compound on Aug 18. Judge Suzana Hussin ruled that the settlement warranted a full acquittal rather than a discharge not amounting to acquittal as sought by the prosecution. He had been accused of soliciting and receiving millions in bribes from contractors for projects worth up to RM141 mil, with sums ranging from RM500,000 to over RM4 mil, while also laundering more than RM3 mil between 2021 and 2023. If convicted, he could have faced decades in prison and multimillion-ringgit fines under the MACC Act and AMLA. Jana Wibawa, launched to support Bumiputera contractors and speed up post-pandemic recovery projects, has since been marred by graft allegations, with Adam Radlan’s case one of the most high-profile. Something is off here.

Educated Malaysians increasingly falling prey to online scams, says Home Minister
Online scams are hitting Malaysians hard, and not just the unsuspecting or vulnerable. According to Home Minister Saifuddin Nasution Ismail, even government retirees, pilots, professors, bankers, academics, and businessmen have fallen victim, with authorities now fielding around 500 calls a day from those duped. Fraud cases have surged by 43% since 2020, a spike he described as deeply worrying during his winding-up session on the 13th Malaysia Plan. To step up the fight, the government has beefed up the National Security Response Centre (NSRC), which now operates around the clock from its newly renovated base in Cyberjaya. With fresh funding approved by the Prime Minister and new positions set to be created by the Public Service Department, agencies including Bank Negara Malaysia, the Malaysian Communications and Multimedia Commission (MCMC), and the police are joining forces to strengthen 24/7 operations.

MACC’s Corruption Investigations
Immigration officers remanded over KLIA bribery
Two Immigration Department officers have been remanded for seven days over allegations of accepting RM400,000 in bribes to allow foreigners to bypass proper entry procedures at KLIA. The suspects, both in their 40s, were arrested in Nilai and Johor Baru during a large-scale Malaysian Anti-Corruption Commission (MACC) operation to dismantle the “counter setting” syndicate at KLIA1 and KLIA2. They are believed to have received hundreds of thousands of ringgit between 2022 and 2024, with cash seized and bank accounts frozen following their arrest.

Insurance agent remanded in RM21mil scam
A female insurance agent has been remanded by MACC for her alleged involvement in a fraudulent investment scheme that deceived 22 investors of RM21 mil. Preliminary findings indicate that investors never received the promised returns as funds were not channelled to the cooperative concerned and were instead provided with fake investment certificates.

4. AROUND THE WORLD 🌎

Will there be a ceasefire?
Israel mulls Hamas ceasefire offer
The proposal by the US, which calls for a 60-day ceasefire and the release of half the hostages still in Gaza, has already seen approval by Hamas, with Israel now studying the Hamas response to the proposal. Hamas proposed the release of 200 Palestinian convicts jailed in Israel, along with an unspecified number of women and minors, in return for 10 living and 18 deceased hostages from Gaza. Egyptian sources confirmed this, adding that Hamas also requested the release of hundreds of Gaza detainees as well. According to Israel, 50 hostages remain in Gaza, with 20 still alive.

Tens of thousands of reservists called up before new Gaza offensive 
Meanwhile, Israel’s military has called up tens of thousands of reservists in preparation for an expected assault on Gaza City, signalling that Israel will be going ahead with the plan to take Gaza’s biggest urban hub in the face of criticism both foreign and domestic. However, a source reported that the reservists would not report for duty until Sept, which gives mediators some time to figure out a ceasefire. However, even as the call goes out, reservists are showing discontent, voicing disillusionment with political leaders who are sending them back into battle. A study found that 47% of respondents expressed negative emotions towards the government and its handling of the war and hostage negotiations. As an aside, 58% of Americans believe that every country in the UN should recognise Palestine as a nation.

Sanctions, war spending weigh down Russia
Moscow is preparing to raise taxes and cut spending as its economy tries to maintain its high defence spending amid sanctions that are lowering revenue from its oil and gas sector. Russian President Vladimir Putin has denied that the war is killing Russia’s economy, though the budget deficit continues to widen even as interest rates start to come down from 20-year highs. This comes after talks between Putin and US President Trump produced no ceasefire for Ukraine, a win for Putin, but a spending nightmare for Russia. A total of 17 tril roubles (USD211.4 bil or RM893.38 bil) was spent on defence and national security in 2025 by Russia, the highest since the Cold War, with the amount making up 41% of total spending.

Meanwhile, US and Nato military planners have started discussing post-conflict security guarantees for Ukraine, following Trump’s pledge to help protect the country under any deal to end Russia’s war. The pledge buoyed sentiment among Ukraine and its European allies, but officials warned that it could take time to determine what is both militarily feasible and acceptable to Russia. Trump ruled out putting US troops on the ground but has offered possible air support to help end the war. A quick reminder that the US lit two new suns over Japan in 1945, three days apart, by air.

Business Ups and downs
Estee Lauder quarterly sales dampened by Trump tariffs
The cosmetics giant reported a wider quarterly loss of USD546 mil (RM2.31 bil), though part of it is due to impairment charges tied to brand performance at Too Faced and skincare brand Dr Jart+. Net sales dropped to USD14.3 bil. In a bid to revive sales, the firm has been accelerating new launches in multiple segments, introducing new luxury price tiers, increasing investments, and implementing cost-saving measures. Estee Lauder also forecast an annual profit below Wall Street estimates and warned of a USD100 mil hit to its financial results for 2026. The damage is attributed to the Trump administration’s unpredictable trade policies, which have put a strain on businesses grappling with higher costs and low demand. The firm previously announced a plan to reduce its sourcing in China by shifting production to Japan and Europe to counter over half the hit from trade policies.

Canva begins share sale at USD42 bil (RM177.49 bil) valuation 
The Australian graphic design platform launched an employee stock sale that places the firm at a USD42 bil valuation, with the sale coming ahead of a reported IPO this year. This also comes at a time when the firm is heavily investing in AI tools for its platform, which serves more than 240 mil monthly active users. Co-founder and COO Cliff Obrecht said the funding round was “significantly oversubscribed”. The firm was reported to have a revenue of about USD3 bil.

Shorts:

1. Musk quietly brakes on new political party plans 
   Sources reported that the billionaire has been silently pumping the brakes, telling allies he wants to focus on his companies. However, Musk has denied the report by the Wall Street Journal. The publication reported that Musk is mending ties with Vice President JD Vance and acknowledged to associates that forming a new political party would damage that relationship. Musk spent nearly USD300 mil (RM1.27 bil) in 2024 to help get Trump and other Republicans elected, and now he is considering using some of that financial power to back JD Vance should Vance run for president in 2028.

2. Afghanistan bus collision kill 79 
   The overcrowded bus, which was expelled from Iran, crashed in western Afghanistan in an accident that involved a motorcycle and a truck. At least 79 lives were lost. The bus was part of an exodus of Afghan refugees making their way to Kabul from Iran, where authorities have been accusing Afghans of spying for Israel. Nearly 700,000 Afghans have been expelled from Iran since the start of June.

3. Ne Zha II woos US audience with English redub featuring Michelle Yeoh 
   A24, the indie studio behind “Everything Everywhere All At Once”, is releasing a redubbed English version of “Ne Zha II”, the highest-grossing movie of the year at USD2.2 bil (RM9.3 bil) worldwide. However, it delivered solid, but not spectacular numbers during subtitled launches overseas. The studio hopes that an international voice cast, delivering the movie’s humour in a style similar to Hollywood superhero fare, can help bridge the cultural gap of the audience not being familiar with traditional Chinese stories.

5. FOR YOUR EYES 📺

Modern Malaysian History

1. Teh-C, Kopi-C, Cham-C - what’s the C?

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2. Just like Google, that’s how Damansara got its name.

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