☕️ PMX says a global investor will invest RM204.3 bil in Malaysia

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

12 – That’s the number of third-generation members of the founding Yeoh family who were recently appointed to the boards of three listed entities under the YTL banner, namely flagship YTL Corporation Bhd, utility giant YTL Power International Bhd, and building materials arm Malayan Cement Bhd. The 12 directors, aged between 25 and 41, are all grandchildren of the late patriarch Yeoh Tiong Lay and Tan Kai Yong, who had seven children. All seven branches of the second generation were represented in this latest set of boardroom appointments. Most of the third-generation members were listed as alternate directors to their parents, in what looks like a concerted move to prepare the next generation for leadership succession.

RM125 – One-way fares for the East Coast Rail Link (ECRL) between Gombak and Kota Bharu will start at that price for Transit services while Express fares will cost RM147 when commercial operations for the rail line begin. However, passengers may have to pay more depending on booking time and seasonal demand, with prices possibly exceeding RM156, which is the mid-range Transit fare. The implementation of flexible ticket pricing was approved by the government in mid-Oct, as the proposed fare structure is meant to balance affordability with long-term operational sustainability. Discounts of 50% have also been approved for children aged 2 to 12, Malaysian senior citizens aged 60 and above, persons with disabilities, and government pensioners. Students aged 13 to 24 will get a 40% discount. The ECRL is targeting about 1.4 mil passengers in 2027, against approximately 2.2 mil seats planned to be made available during the year. The Transit service stops at all scheduled stations, while the Express service only stops at four major stations, which are Gombak, KotaSAS, Kuala Terengganu, and Kota Bharu.

RM45 bil – PM Anwar Ibrahim said that Putrajaya is prepared to absorb an increase in fuel subsidy costs, which could reach that amount annually amid a surge in global crude oil prices. With that, in a way, PM Anwar provided an assurance that the government would maintain the price of RON95 petrol at RM1.99 per litre. FYI, for 2025, Putrajaya spent RM19.11 bil on petroleum product subsidies, while this year, the Ministry of Finance noted that spending on petrol and diesel subsidies is approaching RM40 bil.

3. IN MALAYSIA 🇲🇾

Undi-Undi Malaysia

Melaka
Pakatan Harapan (PH) has announced 21 candidates for the upcoming Melaka polls, leaving seven seats unannounced and the door open to a possible electoral pact with Bersatu. No big surprises in the lineup except for PM Anwar Ibrahim’s political secretary cum Federal Territories PKR chief Azman Abidin, who will make his electoral debut by contesting the Paya Rumput state seat. 26-year-old Farzana Hayani will contest again in the Melaka state election, after performing poorly during the 2021 state election, contesting as the youngest candidate at the age of 21. She will now contest the Klebang seat after only managing to garner 17.2% of the vote last time around for the Sungai Rambai seat. On the other hand, PH Melaka state chairman Adly Zahari said that PH’s goal in the state election is not to win, but to add more seats than it currently has (five). He added that in order for the goal to be achieved, PH needs to win about 30% of the Malay votes. However, if the coalition fails to achieve at least 20% of the Malay votes, PH may even lose seats that they have now.

Barisan Nasional (BN) also announced a 21-person lineup akin to PH, leaving the remaining 7 seats for Perikatan Nasional (PN). Unfortunately, BN’s component party MCA was clearly not happy with the list of candidates, as MCA leaders staged a walkout at BN’s candidate announcement. MCA president Wee Ka Siong said that the party will not recognise any of its candidates announced by BN for the 16th Melaka state election without the approval of the party’s top leadership. He claimed that MCA had not been consulted before the candidate announcement was made, where only two MCA candidates were announced - Machap Jaya incumbent Ngwe Hee Sem and Kelebang incumbent Lim Ban Hong.

Sarawak
Sarawak’s turn is here - Sarawak Premier Abang Johari Openg announced that the Sarawak state assembly will be dissolved today to enable the state election to be called, with consent obtained from Sarawak Yang di-Pertua Negeri Dr Wan Junaidi Tuanku Jaafar. The ruling Gabungan Parti Sarawak (GPS) coalition is set to win comfortably, currently holding 76 of the 82 seats (~93% of seats). With 82 seats, Sarawak state assembly is the largest in the country. Parti Sarawak Bersatu won 4 and DAP took the other 2.

Indonesia seized drug-laden ship owned by a Malaysian company
More Breaking Bad coming out of Malaysia. Indonesian authorities detained a Malaysian company owned tanker named MT Global 168, that was used in an attempt to smuggle 1.16 tonnes of ketamine, worth RM60 mil. According to Bukit Aman Narcotics Crime Investigation Department director Hussein Omar Khan, the tanker had previously applied for registration under the Malaysian flag but had yet to be registered. It is currently sailing under the Mongolian flag. The tanker was believed to depart from Pasir Gudang, Johor, before it was detained in waters off Tanjung Balai Asahan, Indonesia. Malaysian companies and individuals were occasionally featured in the regional drugs trade. According to Hussein Omar Khan, from January to mid-October 2026, 72 Malaysians were detained overseas on suspicion of drug-related offences, with 1,704 kg of drugs, worth RM81.76 mil were seized. 16 of them were detained in Indonesia.

Money

Astro sells broadband business to Maxis 
Astro Malaysia Holdings Bhd is looking to offload its broadband business to Maxis Bhd, for up to RM83 mil cash. From left hand to right hand, sort of. This transaction will be considered a related-party transaction as certain directors and major shareholders have interests in both Maxis and Astro. This is part of Astro’s strategy to focus on its core businesses, which are content, advertising and entertainment businesses. If the deal goes through, Astro is set to record a net gain of RM31.4 mil.

Malaysia to receive up to USD50 bil in technology investments
PM Anwar Ibrahim said that a global investor plans to invest USD50 bil (RM204.3 bil) in Malaysia, in the form of artificial intelligence (AI), new technology and data centre investments in Sarawak and Peninsular Malaysia. Although PM Anwar did not specifically mention the company, it is rumoured that the global investor is indeed Masayoshi Son of SoftBank Group. Previously, SoftBank Group, Grab, and Petroleum Sarawak Bhd (PETROS) signed a framework agreement in October 2026 to explore building an artificial intelligence (AI) and digital infrastructure platform in Kuching, Sarawak. SoftBank has at least USD130 bil of debt on its books. If indeed is SoftBank, any turn in capital markets, the money could easily stop flowing in. Hutang comes before Harapan.

TuJu may find its way within the next two weeks
Starting with this:

But doubt it would find its way into the daily life of Malaysians. One of the founding companies behind the TuJu app, Prosignal Consortium Sdn Bhd, said that the app will be fully operational, with restored and stable navigation services within the next two weeks. This comes after the app was overloaded due to a sudden influx of users. But why did PM Anwar specifically mention TuJu as an alternative to Waze? What is so special about Prosignal, the company behind the app? Kontrak brapa?

Prosignal’s leadership features prominent former public officials. The company’s executive director is Abdul Rashid Asari, the Selat Klang state assemblyman who previously chaired the Malaysian Highway Authority (LLM) from 2020 to 2022. Rashid has publicly acknowledged proposing the app concept during his tenure at LLM and invited Prosignal to develop it. Additionally, the company’s board has included high-profile security figures, notably listing former Inspector-General of Police Acryl Sani Abdullah Sani as a non-executive director.

4. AROUND THE WORLD 🌎

Protests continue in France
Hundreds of thousands marched in cities across France once again on Saturday in largely peaceful protests to support schoolchildren’s demands for more teachers and repairs to dilapidated buildings, as President Emmanuel Macron faces a social and political crisis in his final months in office. At Saturday’s protests, there was widespread anger at Macron for banning non-union demonstrations that his government deemed “illegitimate” and for keeping all protesters away from city centres.

The government estimated that at least 400,000 people had marched across the country, but trade unions estimated double that number. While the protests were planned as peaceful ones, there were still incidents of rioting, especially in Paris, with some groups of masked men throwing glass bottles and stones at police, prompting them to respond with tear gas, water cannon and stun grenades. The interior ministry said there had been 1,314 arrests, 75 fires and 24 shops looted – less than last weekend. Relatively peaceful. 

UK government launches campaign to stockpile water and food supplies
The British government has come up with a Be Ready campaign, aimed at persuading people to stock up with supplies to last 72 hours, amid growing official concern about the impact of the climate crisis, technological dependency and hostile state threats. The campaign urges every Briton to stock up on nine litres of bottled water and three days’ worth of food. Defence Secretary Wes Streeting added that Britain also needed to prepare for the threat of “state-sponsored terrorism” by Russia or other hostile powers targeting everyday infrastructure. Stocking up for three days is considered to be a realistic and practical proposal for households and would bring the UK in line with France, the Republic of Ireland and the Netherlands in advising people how to prepare for serious disruption.

Apple iPhone Duo - hot selling, potential hot mess
The Apple iPhone Duo is finally here, with stores quickly selling out of its limited in-store inventory, underscoring the strong demand for a foldable device that starts at nearly USD 2,000 (RM8,170). Long lines were seen snaking outside Apple stores all over the world, with some customers collecting their pre-orders, some trying their luck with walk-in purchases, and resellers hoping to flip the devices for a higher price. Rather than a repeat of the lacklustre debut of the Vision Pro headset nearly three years ago, the Duo’s launch is shaping up to be a throwback to the iPhone introductions of old — when demand far outstripped supply.

Bummer on the screens: Seems like it did not take long before reports of cracked iPhone Duo screens hit the internet, giving many people who can’t wait to dunk on Apple all the ammunition they need to make jokes online. Customers are reporting cracks around the hinge, and bright lines stretching across one side of the screen. One owner claimed that the phone lasted only 6 hours and fewer than 20 openings before it began showing signs of damage.

An AI tool that can tell how ill we are only by looking at your face
Doctors are currently developing an AI tool that may be able to help judge how ill a patient is using a single photograph of their face. The preliminary findings were published in the Lancet Digital Health journal, revealing that the tool can make estimates on survival by looking closely at features near the eyes. The area under the eyes and around the bridge of the nose are the most vital parts of the face to assess when estimating how long a patient might have left to live. The AI tool was trained on millions of healthy faces, and 35,000 photos of cancer patients.

However, the researchers need much more data and photos of faces, particularly from lots of different ethnic groups, to determine how well the tools work. The research team is inviting the public to take part and receive a personalised biological age estimate by uploading their own facial photo to the research team. The team added that the goal of the tool is to make photograph-based health assessment more quantitative, consistent and scalable so it can support personalised treatment decisions rather than replace physician judgment.

Shorts

1. Two rescued after Nairobi building collapse with five still missing

   A building under construction has collapsed in the capital of Kenya, Nairobi, on Friday, sending plumes of dust into the surrounding streets, with dramatic footage showing scaffolding still wrapped around the outside of the building. Two people have been rescued, but five are still missing at the time of writing. Dozens of builders had been working on the upper floors when it collapsed, raising fresh concerns about construction standards and regulations in the country. Police have said that a manhunt had been launched for the building’s owner and the contractor responsible for the site. Moments before the building collapse here.

2. Lewis Hamilton aims to race in African Grand Prix

   Lewis Hamilton is hopeful that he will remain racing in Formula One until the African Grand Prix in Rwanda (view on map here), set to happen in the early 2030s. He’s currently 41 years old and the only Black competitor in the motorsport. F1 has confirmed that Rwanda is going to host the African Grand Prix, having concluded a 10-year agreement for the meeting on a purpose-built circuit. The race will be held on a circuit in Bugesera, 25 miles (around 40 km) south of the capital, Kigali, which has yet to be constructed. It will be regarded as a return to the African continent for the first time since it last held a race at Kyalami, South Africa, in 1993. Despite criticism of the country’s human rights record, Hamilton feels the meeting would serve as a force for good in Africa and that it will present an opportunity for people to take a greater interest in the massive continent.

5. FOR YOUR EYES 📺

Road stuff - safety, danger, humour

1. Safe: Tesla released dashcam footage of its Cybercab avoiding collisions and running over cats, yielding to give way in a one-lane traffic and even following human hand instructions. A weirdly satisfying watch. If put in that driver’s seat, probably I would have knocked over so many of them people and animals. To safer roads.

2. Dangerous: The audacity to block the road for their own pleasure. Happened at Butterworth Outer Ring Road toll exit in Bagan Ajam on Oct 18. Probably their last attempt to enjoy such freedom - effective Nov 1, rempit-ing will be criminalised.

3. Laugh: Funny editing of how each car model represents a stereotype - more models here. Someone should do one for Malaysian cars.