☕️ Live in Malaysia: Malaysia to host the latest round of US-China tariff talks

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Police Inspector-General Mohd Khalid Ismail reported that over RM3.6 bil has been lost in 52,000 cases (RM69.2k loss on average per case) of commercial crime between January and September 2025. This marks an 81.6% increase in cases compared with the same period in 2024. Of these 52,000 cases, about 80%, or over 47,000, are online scams, accounting for about RM2 bil in losses. The government addressed the rising trend in scam cases with the establishment of the National Scam Response Centre in October 2022. Since then, the centre has handled over 266,000 calls, of which 160,000 were genuine cases, while the remainder were general inquiries, which included requests for prevention advice or information on past cases.

According to the Treasury Secretary-General, 95% of Malaysians use less than 180 litres of petrol per month, with less than 0.7% of Malaysians using more than 300 litres for personal consumption. The average is actually about 80 litres per month. The findings are based on actual Budi95 consumption data for the first two weeks of October 2025. Still, the Treasury Secretary-General acknowledged that these are early numbers, and said that the government will continue to monitor the situation.

2024 saw Malaysia recording its lowest number of live births since 1980 with 414,918 births. This marks a 9% drop from 455,761 live births in 2023, according to the Department of Statistics. The Chief Statistician remarked that every state recorded a decrease in crude birth rate in 2024, with the total fertility rate falling to 1.6 children per woman. The rate has remained below the replacement level of 2.1 since 2013, after staying above it between 1970 and 2012. On the other hand, Malaysia recorded a 1% increase in deaths in 2024 at 198,992.

3. IN MALAYSIA 🇲🇾

Live in Malaysia: Malaysia to host the latest round of US-China tariff talks
Malaysia is set to host the latest rounds of tariff-related discussions between the United States and China, represented by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. This incoming discussion follows a series of meetings held over the last 6 months which saw both countries agreeing to a tariff truce that brought tariff figures down from triple-digit levels for both sides. However, the truce is set to expire on November 10.

Trump believes that the US is already in a trade war with China, even as his Treasury Secretary proposes a longer pause on higher tariffs on Chinese goods to resolve a conflict over critical minerals. As it is, investors are already plagued by uncertainty from the back and forth in trade relations between the two major economies, and the latest escalation has only renewed fears that the tension will soon boil over into a full-blown trade war.

Optics-wise, the US would definitely benefit from participating in this latest round of talks, especially when Trump is expected to make an appearance in the upcoming 47th ASEAN Summit. Trump is expected to oversee the signing of the Kuala Lumpur accords, a formal peace declaration between Thailand and Cambodia. (Side note: Trump has taken credit for ending the conflict, so that’s another reason to be present at the peace signings).

PSA: Several roads in KL city centre will be closed for the ASEAN Summit during October 26 to 28, make sure to take note.

Umno’s moves to remain politically relevant
Since its fall as the ruling party in 2018, Umno has entered into a few “marriages”, partnering both PAS and Bersatu during the 2020 Sheraton Move to get back into power, and then allying with Pakatan Harapan to form another government following GE15. Admittedly, Umno operates in a playing field where it has to constantly tussle with Bersatu, PAS and others just to remain relevant.

Perhaps it is not surprising then to see Umno Supreme Council member Puad Zarkashi making light of Mahathir Mohamed and Muhyiddin Yassin’s “political marriage”. In June 2025, Mahathir Mohamad formed a secretariat with the purpose of uniting Malays under one umbrella to restore the community’s political power and address its issues, Meanwhile, Muhyddin founded Ikatan Prihatan Rakyat in August 2025, a loose coalition of 11 political parties, with the aim of highlighting unfulfilled reform promises. Puad noted that despite Perikatan Nasional, IPR, and the Sekretariat Orang Melayu sharing the same core leaders, they still failed to demonstrate real unity, saying “that’s what it means to be ‘united yet divided’. Too many heads, too many people wanting to be the leader”.

Meanwhile, Umno is also working to retain its political holdings in Sabah in the upcoming 17th Sabah state election, with Sabah Barisan Nasional (read: Umno in the driver’s seat) projecting that it will contest 48 seats. Despite successfully avoiding any contests against PH, it will most certainly contest against candidates from the ruling Gabungan Rakyat Sabah coalition. Notably, Umno and GRS are not on good terms, with a serious attempt by Umno to oust Sabah Chief Minister Hajiji Noor back in 2023.

Government mulls raising social media, smart phone age limit to 16
According to Communications Minister Fahmi Fadzil, the Cabinet is mulling raising the minimum age for social media users to 16, up from the previously proposed age of 13. This would follow the example set by Australia and Indonesia. Utilising the “electronic Know Your Customer” identity verification, this move aims to protect children online and is also crucial to curb online scams and harmful content such as gambling and fake advertisements.

Meanwhile, the Cabinet has also mulled the idea of banning the use of smartphones for those under 16 years old, in the wake of the infamous stabbing case of a 16-year old student by a 14-year old student who managed to purchase weapons online. PM Anwar said that while some countries allow smartphone usage for those below 16 years old, he felt Malaysia had to be strict on the matter. Anwar also mentioned that other measures being explored include increasing existing security monitoring at schools nationwide, and developing ethical educational content that involves parents and the Parent-Teacher Association.

Here’s a thought. Aside from whether raising the age limit for social media and smart phone ownership is the right move, perhaps there is the question of the moral values students are learning in the classroom these days? Is there a need to update our lesson syllabus, for example?

Shorts

1. 36 Putra Heights residents sue 5 parties, including Government and Petronas

   More than 6 months after the gas pipeline explosion at Putra Heights, 36 owners, occupiers and tenants affected by the incident have hired former Attorney-General Tommy Thomas to file a civil suit against 5 parties, including the Malaysian Government and Petronas. The Government (or to be more specific, Majlis Bandaraya Subang Jaya) was stated to be negligent in allowing Hong & Hong, as well as Pinterest (the developers, not the site), to undertake development and construction works adjacent to its gas transmission pipelines on Petronas land. To understand why these people are so angry:

2. 14-year old school student arrested under allegations of sexual harassment

   Following the recent spate of school students-related cases, a 14-year-old student at Sabak Bernam, Selangor, was reported to have been arrested at the roadside. The male student was suspected of being involved in a sexual harassment incident against his 15-year old female schoolmate. The incident was reported to have taken place in the school compound during recess. Following a report lodged by the victim, the police promptly took action and detained the suspect for investigation.

3. 22 injured in Deepavali fireworks show in Kulim, Kedah

   What was meant to be a colourful festive fireworks show turned into a tragedy when one of the fireworks during the show exploded unexpectedly, causing injuries to members of the surrounding crowd. While fireworks mishaps like this one are not uncommon during the festive season, this case could become a rallying point for calls to ban fireworks altogether.

4. AROUND THE WORLD 🌎

The ways wars start and end

Pakistan, Afghanistan agree to immediate ceasefire
The two countries agreed to the “complete and meaningful” ceasefire during peace talks in Doha, Qatar, a week after border clashes broke out between the two countries, following Pakistan’s accusation that Afghanistan was harbouring Islamic State-linked militants. Both sides will be meeting again on October 25 to discuss details, with Qatari mediators adding that the followup meetings were to ensure the sustainability of the ceasefire and its implementation. However, the Pakistani Defence Minister revealed that the key clause for the ceasefire would be whether or not Afghanistan’s Taliban government could rein in the militants, as anything coming from Afghanistan would be seen as a violation of this agreement.

“No King” protests draw huge crowds, Trump responds with mocking video
More than 2,700 “No Kings” rallies were held across all 50 US states over the weekend, as the nation mass protested against what they see as rising authoritarianism and corruption under US President Donald Trump. Organisers reported about seven mil protesters in total, with some rallies even taking place in major Republican states such as Alabama and Montana. These protests are a response to Trump’s recent use of presidential powers that saw the National Guard deployed in Democrat-run cities, crackdowns launched on left-wing and liberal groups, and people being mass-deported without due process.

While top members of Trump’s Republican Party have condemned the protests, Trump himself has responded in a slightly filthier manner - an AI-generated video of Trump flying a jet a dumping on these protesters:

Business

Gucci owner Kering sells beauty business to L’Oreal in USD4.7 bil deal
French luxury brand firm Kering has inked a USD4.7 bil (RM19.9 bil) deal with L’Oreal to sell the latter its fragrance line Creed, with the deal expected to close in 1H2026. This also includes exclusive rights to develop fragrance and beauty products for 50 years under Kering’s fashion labels, such as Bottega Veneta and Balenciaga. L’Oreal will also get the Gucci licence for 50 years, but only after a deal with Coty expires. Analysts have lauded the move, believing it to be necessary for Kering to trim its net debt, which stood at EUR9.5 bil (RM46.8 bil) at the end of June, not including EUR6 bil in long-term lease liabilities.

Japanese curry chain aiming 100 outlet expansion in the home of curry - India
Ichibanya, operator of Japanese curry chain CoCo Ichibanya, is looking to step up its expansion in India, with a target of 100 outlets over the next decade from its two outlets there as of August. Known for its wide range of customisable toppings, the chain has gained popularity in India’s fast-growing market of about 1.5 bil people. Ichibanya President Mamoru Kuzuhara believes that if India’s dining-out culture continues to grow alongside its economic expansion, opening over 100 restaurants is not an unrealistic goal, especially as Ichibanya will be including franchising as a means of network expansion. CoCo Ichibanya has about 1,200 outlets in Japan.

Shorts

1. Amazon’s AWS recovering from largest internet disruption since CrowdStrike
   The disruption to Amazon Web Services saw thousands of websites and popular apps like Snapchat and Reddit knocked out, affecting businesses around the world. On the financial side, PayPal’s Venmo, crypto exchange Coinbase, and trading app Robinhood were also affected. However, systems started coming back online after about three hours of disruptions.

2. France scrambles to protect museums after thieves steal crown jewels in 7 minutes

   France will be reviewing the protection of cultural sites across the country and beefing up security as needed, even as the manhunt continues for four thieves who managed to steal the French crown jewels in broad daylight. The thieves used a truck with a basket lift to reach a high window, which they sliced through with cutting tools. They then stole nine pieces of France’s crown jewels before making their getaway on scooters. Now, the authorities are in a race against time to catch them before the precious items are broken down to be fenced.

   Feels very Johnny English (played by Mr Bean actor Rowan Atkinson):

le__walk

120K followers

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3. Meta researchers discover Instagram algorithm targets teens with body image issues with “eating disorder adjacent content”

   According to an in-house report by Meta, teens who reported that Instagram regularly made them feel bad about their bodies actually saw significantly more “eating disorder adjacent content” than those who did not. Such content made up 10.5% of what they saw on the platform, compared to 3.5% for those who did not report the same issue. The report also showed that teens who reported the most negative feelings about themselves also saw more provocative content more broadly, with themes such as “risky behaviour, harm and cruelty, and suffering”.

5. FOR YOUR EYES 📺

Deepavali (aka Festival of Lights) stuff

1. Now this is a real, next-level, majestic Rangoli.

art_bhagyashree

282K followers

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2. Throwback to Petronas’ Deepavali ad in 2022.

3. FAM had a press conference on the footballer citizenship scandal and was properly grilled by the reporters. Respect to them folks for doing a good grilling. Worth watching both Part 1 (below) and Part.2 here. Pure comedy - worth the watch even if you aren't following the news. It’s still remotely Deepavali related - one of the reporters did make a festive greeting in advance.