☕️ Unnamed company penalised RM900 mil for evading tax

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

According to Armed Conflict Location and Event Data, Israel carried out at least 10,631 attacks between Jan 1 and Dec 5, 2025 (that’s an average of 31.4 attacks DAILY), marking one of the broadest geographic military offensives in a single year. Attacks were defined as violent events including air and drone strikes, shelling and missile attacks, remote explosives, and other armed attacks. However, the incidents exclude the significant rise in attacks by Israeli settlers against Palestinians in the occupied West Bank, and do not cover other Israeli assaults, such as the daily home demolitions or nightly raids. Israel attacked at least six countries, including Palestine, Iran, Lebanon, Qatar, Syria, and Yemen. Strikes were also carried out within Tunisian, Maltese, and Greek territorial waters on aid flotillas heading to Gaza.

Did you know that Sudan was the world’s biggest gum arabic exporter, with an estimated market share of up to 80%? In 2024, international corporate giants, which are heavily reliant on gum arabic for their products, imported nearly 200,000 tonnes for various uses, valuing the market at nearly USD300 mil (RM1.23 bil). To put into perspective just how important gum arabic is, the US excluded gum arabic from Sudan’s sanctioned exports when it imposed sanctions on Sudan in the 1990s after designating it as a ‘state sponsor of terrorism’. Gum arabic is a natural plant resin used as an emulsifier and binder in various products, from food to pharmaceuticals and cosmetics. Watch more here.

As of Dec 2025, the British government had publicly acknowledged colonial wrongdoings only five times. The fifth occasion marks a win for Malaysia, as the British government acknowledged the Batang Kali massacre 78 years ago. The tragic incident saw 24 men, wrongly labelled as ‘insurgents’, killed by British troops in a rubber plantation during the Malayan Emergency, with the victims’ families having sought justice since. MCA’s Michael Chong, along with lawyers Vincent Lim and Lim Choon Kin, spearheaded the movement with a petition to the British High Commission and lodging a police report, aided by the media providing full coverage. The cause was revived in 2008 by Lawyer Quek Jin Teck, with his son Ngee Meng continuing the fight in 2010.

Save smarter with Ryt

In the new year, your money works harder, even when you are resting
January is when we swear we’ll “save more this year” - right after buying new gym shoes. Instead of fighting temptation, make your money work quietly in the background.

With Ryt Bank, your balance earns up to 4% p.a., calculated and paid daily. No lock-in, no complicated hoops, no staring at fine print like it’s a thriller novel.

It’s useful for parking spare cash, your “don’t-touch-this” fund, or just giving your money something to do while you’re busy living.

Get started here now.

T&Cs apply.

3. IN MALAYSIA 🇲🇾

MACC in action

1. Military scandal update
   The Malaysian Anti-Corruption Commission (MACC) summoned a senior officer from the armed forces over the weekend to assist in its investigation into the alleged abuse of funds intended for asset procurement. So far, no additional arrest was made apart from the detention of the former army chief Hafizuddeain Jantan and his two wives. In a raid at a residence in the East Coast believed to belong to wifey #2, MACC seized 2 suitcases containing luxury items, including 23 Rolex watches with an estimated market value of about RM2 mil. So far, a total of RM9 mil has been seized so far in this case.

2. Unnamed company penalised RM900 mil for evading tax

   MACC Commission chief Azam Baki announced that an unnamed company has been slapped with a RM600 mil penalty and a RM300 mil compound for failing to pay tax. Surprisingly, the company has paid off the amount. MACC thanked the police for their cooperation in reprimanding the said company. Azam Baki further elaborated that it is hard to link corporate tax evasion to bribery. So, instead of bringing the case to court, for the country’s interest, it is best to resort to penalties and fines so that the allegedly siphoned assets could be recovered and utilised by the nation. For undisclosed reasons, Azam Baki said he could not name the company for now.

Education Ministry in (messy) action

1. School is only ‘28.94% safe’

   Following a Student and Hostel Safety Audit conducted by the Inspectorate last year, only 28.94% of schools were equipped with fully functioning CCTV systems. That accounts for only 246 out of 850 schools nationwide that have cameras monitoring the students. In response to the audit findings, Education Minister Fadhlina Sidek announced that CCTV systems will now be installed in more than 300 schools this year. This is part of the ‘quick wins’ initiatives under the Malaysia Education Blueprint 2026-2035.

2. Possible U-turn for UPSR and PT3

   Education Minister Fadhlina Sidek stated that the primary school public examination, UPSR, and the Form Three assessment, PT3, could make a comeback. She added that the National Education Advisory Council (MPPK) will determine if these exams should continue, be reinstated, or if alternative forms of evaluation are needed. Previously, former Education Minister Dr Radzi Jidin decided to abolish both exams in 2021 in exchange for school-based assessments.

Zoo Negara: RM5 mil for new pandas from PMX and some throwback
PM Anwar Ibrahim announced a fresh RM5 mil fund for maintenance and upkeep, after approving the same RM5 mil last year to improve its facilities during his visit to the Chinese representatives. FYI, Malaysia is one of 20 countries partnering with China in giant panda conservation and research. Under an agreement with the China Wildlife Conservation Association, Malaysia will host a new pair of giant pandas for 10 years until 2035. During the visit, PM Anwar reiterated that Zoo Negara has improved over the years, but maintenance and governance challenges still persisted, so ‘close monitoring’ is needed.

Throwback: Over the past decade, Zoo Negara has been in hot water a couple of times. In 2019, what started off as a public call for help by Zoo Negara for additional funds to upgrade its facilities, the situation went south for Zoo Negara, as it captured Putrajaya’s attention, but for a totally different reason. MACC, back then, conducted an investigation into Zoo Negara to look into its accounts for any possible corruption. We are not too sure what the conclusion of the investigation was-us.

Then, in 2020, based on the information whistleblown by former veterinarians, they claimed that food payments were skimmed, staff favouritism existed, and ticket collection was pocketed into personal accounts. Zoo Negara has always been operated by a non-profit called the Malaysian Zoological Society, and its deputy president, Rosly Ahmat Lana, rejected all allegations by its former employees back then.

4. AROUND THE WORLD 🌎

Trump’s new plans for the rakyat

Credit card interest rate cap: Perhaps a way to call in more support for the Republicans, Trump was calling for a one-year cap on credit card interest rates at 10% starting on Jan 20, although not many details were disclosed. Lawmakers from both sides of the aisle have indeed raised concerns about high credit card interest rates and called for those to be addressed. However, billionaire fund manager Bill Ackman, who endorsed Trump in the last elections, said the US president’s call was a “mistake” and that could distort market dynamics, forcing millions of customers to turn to loan sharks. Americans owed a total of USD1.23 tril in credit card balances in Q3 of last year, with credit card interest rates averaging 20.97% as of Nov 2025.

Ban on institutional investor home purchases: In a bid to make housing more affordable for Americans, Trump has also said on a social media post that he is supporting the ban on big corporate investors from buying single-family homes (meaning here). The pledge bolstered an idea that has been circulating for years among housing advocates and lawmakers, in response to Wall Street’s increased role in America’s residential housing market. Since the 2008 financial crisis led to a wave of foreclosures, Wall Street investors such as Blackstone and other private equity firms have bought tens of thousands of homes to rent out, becoming major landlords, especially in certain markets. But some analysts question the extent to which a ban would affect prices.
Read: Investors are making up the highest share of homebuyers in 5 years (Oct 2025)

Why so rakyat-friendly? Possibly, because the US mid-term election is coming up this Nov 2026.

Venezuelan oil - not so easy
Trump and nearly 20 oil and gas industry representatives had convened in the White House last Friday to discuss the reinvigoration of the operations in the oil-rich Latin American country. Not everyone is so optimistic about the world’s largest oil reserves. Trump’s push for them to spend at least USD 100 bil (RM409.35 bil) to rebuild Venezuela sent them into caution, with the Head of Exxon Mobil Corp, Darren Woods, calling the nation currently “uninvestable”.

While many praised Trump and said they relished the opportunity in Venezuela, they stressed that hard work remained before they could make substantive investments. When asked about specific commitments, Energy Secretary Chris Wright said that Chevron Corp - the only US major still in Venezuela - was the “one specific pledge” from an oil company to help revive the nation’s crude production. Chevron vice-chairman Mark Nelson said the company was poised to significantly ramp up its output in the country, which is currently about 240,000 barrels per day, and could increase production by roughly 50% over the next 18 to 24 months.

Growing unrest in Iran: High cost of living or for the return of the Shah?
The Iranian army has pledged that it will defend the country’s “national interests” as Tehran steps up its efforts to ‍quell the country’s largest protests in years, which have seen thousands of people take to the streets in anger over the soaring cost of living and inflation. Demonstrations have taken place across Iran since late December, with growing calls for the end of the clerical system that has governed the country since the 1979 Islamic revolution.

US President Donald Trump reiterated support for the Iranian demonstrators, writing on social media on Saturday afternoon that Washington “stands ready to help”. The US-based son of Iran’s deposed shah, Reza Pahlavi, has also urged Iranians to stage more targeted protests, to take and hold city centres. Iran’s inflation rate is at 42%, according to the government. Unofficially, it’s closer to 60%. The government has been trying to control the situation by tightening security measures and introducing a monthly subsidy of about USD7 to people with low income who are struggling to cover their daily essentials, but analysts say that the kind of measure does little to alleviate the economic pressure on the population.

Shorts

1. Garbage avalanche kills 1 and leaves at least 27 missing in the Philippines
   An avalanche of garbage and debris has collapsed in a waste segregation facility in Cebu, Philippines, killing 1, injuring 7 and leaving at least 27 others missing. Search and rescue operations were still going on at the time of writing. It was believed that one of the low-slung buildings hit by the wall of garbage that cascaded down in the landfill was a warehouse where workers separated recyclable waste and rubbish. Watch the aerial view of the garbage avalanche here.

2. Grab to pilot test its first drone food delivery service in Singapore

   Southeast Asia’s food-delivery bigshot Grab has just announced a 3-month pilot for drone deliveries in Singapore, particularly in the Tanjong Rhu neighbourhood. The area is chosen for its longer delivery routes due to the Kallang River separating homes from eateries, which can slow down trips, increase wait times, and complicate operations for delivery-partners. The program is done in partnership with ST Engineering’s Unmanned Air Systems division. In China, you can get your food delivered while hiking the Great Wall of China - watch here.

5. FOR YOUR EYES 📺

1. The Trump administration appointed AirBnb’s co-founder Joe Gebbia as the country’s first Chief Design Officer to overhaul federal digital platforms and user experiences. In short, making government sites more pleasant to the eyes and usable. Check out one of the sites here.

2. Closer to home, nutrition coach Natalie Loo (IG here) advised on the new inverted food pyramid (the new site designed by Joe Gebbia) to bring about a healthier diet. Less carbs, more proteins and healthy fats, more real, whole foods. Worth a watch - remember, investment in your health is just as good, or even more important, than investment in your finances.

3. Here’s some adrenaline shot to get rid of your Monday blues. Badminton rally at the Malaysia Open. Superb performance by our men’s doubles Aaron Chia-Soh Wooi Yik. Sadly, they lost in the finals to South Korea’s reigning world champions Kim Won Ho-Seo Seung Jae.