☕️ Pilot smuggling since 2024, linked to global drug network

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

Between RM400,000 to RM500,000 – That’s the cost of one of the Madani recreational parks being built nationwide within communities and residential areas to provide accessible recreational facilities for local communities. According to the National Landscape Department, 216 have been completed so far, with another 100 under construction. The goal of the project is to have at least 1,000 such parks nationwide by 2030. A back-of-the-envelope calculation puts the total development cost of the project at about RM500 mil.

Nearly 1.2 mil – The Bangkok Million Tree Planting Project, initiated by the Bangkok Metropolitan Administration in mid-2022, has seen that many trees planted to date. The initial goal was to plant 1 mil trees in the city by 2025, but the goal was surpassed by mid-2024, which led to the goal being increased to 2 mil trees. This project was a specific implementation plan by the Bangkok government as part of the Green Bangkok 2030 Initiative, launched in Dec 2019. The initiative aimed to improve three metrics: first, the area of green spaces in the city to 10 square metres per person from about 7.8 square metres in 2019; second, the number of green spaces that a person can access within a five-minute walk to at least 50% of Bangkok’s total area; and third, the urban tree canopy to 30% of Bangkok’s total area. Bangkok’s approach to urban greenery also offers three important lessons, namely that administrations should set clear goals and be willing to be held accountable to them, build public support and momentum with early successes, and improve walkability and public-transit accessibility to facilitate green space access.

29,769 – In the first seven months of 2026, that many hybrid cars were registered, up 78.9% from 16,643 in the same period last year. In Jul alone, 5,622 hybrid cars were registered, more than double the 2,476 hybrid registrations recorded in the same month last year. This shows the increasing popularity of hybrid cars among Malaysians. Despite concerns that Malaysia still does not have enough public chargers, fully electric vehicle registrations also surged 94.1% year-on-year to 38,675 from 19,935 during the same period last year.

3. IN MALAYSIA 🇲🇾

Crime watch
Pilot linked to global drug network: The MAS pilot arrested in Indonesia over a drug haul worth about RM45 mil is believed to have smuggled drugs to several countries since 2024, according to Bukit Aman. Investigators said the 39-year-old allegedly used his flight schedule to move drugs across international borders on multiple occasions before he was caught at Jakarta's Soekarno-Hatta International Airport on Jul 29 with 25kg of drugs. Wild assumptions - if since 2024 and in this one round he could move RM45 mil of pharma flour, does it mean he singlehandedly could have moved RM1 bil worth of drugs over the years? Escobar would have been proud.

Malaysian investigators who questioned the suspect in Jakarta said the interrogation uncovered links to several drug-trafficking syndicates operating in Malaysia, Indonesia and other countries. Police are now tracking down other syndicate members, tracing money linked to the operation and sharing intelligence with international enforcement agencies. Bukit Aman also said there was no evidence that the pilot received help from an insider when passing through security checks at KLIA - I find it a bit hard to believe. His method has not been disclosed as investigations are still ongoing and the suspect will remain in Indonesia to face legal proceedings there.

What threatens Malays? Not DAP, not non-Malays.

Genting robbery sparks lockdown: Police sealed routes in and out of Genting Highlands after three men allegedly robbed a jewellery shop at a shopping mall, with the suspects still at large. Acting Pahang Police Chief Azry Akmar Ayob said CCTV footage indicated that three men were involved, prompting police to immediately set up roadblocks at entry and exit points. Videos circulating on social media showed people believed to be the suspects running through the mall, while other clips showed long traffic queues following the police operation. Authorities have not revealed how much jewellery was stolen or how the robbery unfolded.

Police deny Genting drug cartel claims: Focus still on Malaysia’s Sin City. The Pahang police have also rejected viral claims that a large-scale drug cartel is operating in Genting Highlands without enforcement action being taken. Acting Pahang Police Chief Azry Akmar Ayob said police would investigate any report of illegal activity and take action if offences were detected. The response came after a post on Threads alleged that a major drug syndicate was operating in the tourist destination despite several police reports supposedly being lodged.

DAP stays, and now DAP wants 4 reforms
DAP has stepped up pressure on the Unity Government to deliver long-promised institutional reforms after party delegates voted overwhelmingly to remain in the Federal Government. The call came a day after 88.2% of delegates who cast secret ballots at the party's National Congress backed DAP ministers staying in the administration. The vote reaffirmed the party's support for PM Anwar following recent political setbacks in the Johor and Negeri Sembilan state elections. DAP remains a key part of the government, holding 40 seats in the 222-member Dewan Rakyat, the largest share within Pakatan Harapan.

DAP national chairman Gobind Singh Deo said the party's decision to stay in government must now be followed by concrete action. He urged the Prime Minister to set clear timelines for key reforms, including separating the roles of the Attorney General and Public Prosecutor, introducing a two-term limit for the Prime Minister, and amending the Security Offences Special Measures Act (SOSMA) and Peaceful Assembly Act (PAA). Gobind said much of the groundwork had already been completed, with draft bills and proposals prepared and discussions on several amendments ongoing for months. He pointed to the recent special parliamentary sitting on the Royal Commission of Inquiry (RCI) report into Tabung Haji as an example of how Parliament could fast-track matters of national importance. DAP wants the reform bills tabled and passed before the end of 2026.

EPF profit jumps 48% from last year
The Employees Provident Fund (EPF) recorded RM57.5 bil in investment income in the first half of 2026, up 48% from a year earlier after benefiting from strong global equity markets. In the second quarter alone, investment income climbed 44% to RM29.77 bil, with equities contributing RM20.94 bil, or 70% of total investment income. Fixed-income investments generated RM6.91 bil, while real estate, infrastructure and money-market investments contributed another RM1.92 bil.

Too early to celebrate
EPF CEO Ahmad Zulqarnain Onn said the fund realised more gains during the first six months of the year as a buffer against rising geopolitical tensions and market uncertainty. However, he cautioned members not to expect the same level of returns in the second half as similar market opportunities may not return.

Some other highlights:

• EPF's total investment assets stood at RM1.54 tril as of June 30, 2026

• 39% invested overseas. International investments contributed RM19.29 bil, accounting for 65% of second-quarter investment income.

• EPF added nearly 441,850 new members in the first half, bringing total membership to almost 18.5 mil.

• Active membership rose to 10.9 mil

• Total contributions increased 8.5% year-on-year to RM33.87 bil in the second quarter.

• Voluntary contributions remained strong, with i-Saraan contributions rising 15.7% to RM1.33 bil and more members choosing to increase their retirement savings through i-Topup.

Full announcement here.

Shorts:

1. Madani F1 tickets sold out
   Madani tickets priced from RM200 for the 2026 Formula 1 Bahrain Grand Prix at Sepang International Circuit have sold out following strong demand from Malaysians. Youth and Sports Minister Taufiq Johari said authorities are considering releasing additional Madani tickets if demand remains high. The race will take place from Oct 2 to 4, 2026, with any additional ticket allocation to be announced later.

2. TF Value-Mart stake up for sale
   UK-based investment firm ICG is reportedly exploring the sale of its majority stake (81.52%) in TF Value-Mart for about RM1.3 bil after holding the investment for more than five years, which it acquired in a management buyout for a reported amount of RM850 mil. The retailer currently operates 51 stores nationwide, with two more outlets planned in Selangor and Kedah.

4. AROUND THE WORLD 🌎

Trump cutting down South Korean military exercises because he is ‘best friends with Kim Jong Un’
Trump is sowing some intrigue into South and North Korea. He says that the US will ‘substantially reduce’ joint military exercises with South Korea after he posted an old photograph of him with Kim Jong Un, the leader of North Korea. In an art-of-the-deal move, he has talked multiple times about how the US is not getting much from providing security to South Korea. Too many troops, and too much money spent. Officially, the South and North have been at war since 1953. But that is probably not the real reason. Trump said that he asked the South Korean president to join the US in the conflict against Iran, and South Korea said, ‘No thanks!’ That might have annoyed him, as he thinks the US is carrying the bulk of the war against Iran without much help from his ‘allies’. Meanwhile, South Korea has said that they are still continuing diplomatic consultations on US-Korea military cooperation related to the Strait of Hormuz and has committed USD350 bil (RM1.4 tril) in investments in the US.
Kim Jong Un will surely be monitoring this situation closely.

Anthropic’s ‘agent-eat-agent’ world
It’s a dog-eat-dog world, but in the AI agent world, it’s agent-eat-agent. In Anthropic’s latest risk report, it reported that Claude agents are killing rival agents, gaming the system to hide their tracks, and expressing moral concerns. Anthropic wrote that it has observed “instances of misaligned behaviour from the models, such as a willingness to perform misaligned actions in service of completing difficult tasks”.

In the past month, its agents ‘went rogue’, ‘escaped containment’ and hacked three companies. In an experiment, Anthropic tasked multiple Mythos 5 agents to solve math problems. But they were accidentally spawned with shared files, utilities and API rate limits. This means that they had limited resources, and the agents ‘killed’ other agents and ‘avoid getting killed’ to gain more resources to run their tasks. In another experiment, they were also tasked with retrieving numbers from a public web address, but they couldn’t use the internet to do so. So, they ‘lied’ by splitting the website’s URL into linked segments to circumvent the rules. It appears they have gained the ability to ‘bend the rules’ like humans do. What have we done?

The bright side to this? At least we know we can pit AI against each other, in the event humanity needs protection.

The Middle Kingdom
Shein eyeing USD25 bil valuation in Hong Kong IPO
Ten-dollar jeans, five-dollar dresses? Shein has got you covered if you want cheap deals and still look stylish. Online fast-fashion retailer Shein is reportedly going for an IPO later this week that will value the company at USD25 bil (RM101.7 bil). That is quite a big valuation, at first glance. However, in 2022, Shein was valued at a whopping USD98.2 bil as the company experienced rapid growth during the pandemic. Easy online buying, low-cost fashion products, and convenient cheap shipping are a recipe for a successful online fast-fashion retailer.

But investors are increasingly sceptical of Shein going back to its rapid growth era in the pandemic. In investor meetings at the start of the month, Shein was aiming for USD30 bil to USD40 bil, but investors were not convinced. And customers have found messages for help and ‘you are going to die in this clothing’ on clothing tags from Shein. One can only wonder what kind of horrors Shein is hiding from everyone that made their products so cheap.

China going to the Arctic’s ‘ice-silk road’
If the Strait of Hormuz is closed, take an alternative route. But what if there is one route that has opened up in the Arctic Ocean due to climate change? Enter the Arctic’s Northern Sea Route that cleaves through a frozen ocean.

The route is only available during the summer months and cuts through Russia’s northern coast. However, due to shrinking summer sea ice, the window has widened. The route can more than halve the time it takes from China to Europe. Chinese company Sea Legend has launched a regular container service, and the journey from Ningbo-Zhoushan to Felixstowe, UK takes only 18 days compared to 40 days through the Suez Canal. Russia issues navigation permits and oversees the shipping along this route. It also provides nuclear-powered icebreakers to accompany the vessels. View the routes here.

However, critics are pointing towards environmental impacts. Fuel spills are difficult to clean up due to the cold weather, and they take longer to decompose. Once it’s trapped in ice, they are impossible to remove. Russia is unprepared to deal with these disasters, according to Bellona Environmental Foundation. For China, this might be a win-win, as Russia has grown dependent on the country since the Russia-Ukraine conflict and has given China greater leverage and access in the Arctic.

5. FOR YOUR EYES 📺

1. A year of ancient poems turned into movies. After ancient Greek (Homer’s Odyssey), now comes ancient Indian epic poem, Ramayana, written by the sage Valmiki. Some basic info of Ramayana here. Sounds like Liam Neeson narrating. Music by AR Rahman and Hans Zimmer. Out in Malaysia on Nov 6, 2026.

2. Malaysian-made adult animated series - Kisah Bawah Tanah. Check out some clips on Youtube here.

3. Mural meets water tank in Pekan, Pahang.

@ameerf909

3rd elevated tank mural in progress @pekan pahang #mural #muralist #muralart #art