☕️ Monash University's big bet: A RM2.8 bil campus at TRX

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

The largest bank in the US, JPMorgan Chase, will be investing up to USD10 bil (RM42 bil) in US companies critical to national security and economic resilience. This is part of a broader USD1.5 tril pledge over 10 years, which aims to facilitate, finance, and invest in industries central to the growth of the US economy. The USD10 bil for companies tied to national security will be deployed through direct equity and venture capital investments. The bank’s CEO also made clear that this was an initiative by the bank, rather than a move influenced in any way by US President Donald Trump.

Meanwhile, an unnamed donor gave USD130 mil (RM546.7 mil) to the Pentagon to help pay US troops during the government shutdown. US defence officials confirmed the gift, which Trump said will help with paying the country’s 1.32 mil service members. However, the donor was not named, with the only clues coming from Trump, who said the donor was a US citizen, a big supporter, and did not really want the recognition. Still, the New York Times identified the donor as Timothy Mellon, a billionaire and major financial backer of Trump. The White House only managed to make the last military payday by reallocating military research funds. The USD130 mil, split evenly, would mean about USD100 per service member.

The East Wing of the White House is being torn down to make room for Trump’s new 90,000 square foot ballroom, which carries a hefty price tag of USD300 mil (RM1.26 bil), up from the initial USD200 mil announced in Jul. According to Trump, he and several private donors are paying for the ballroom. Among the donors are names like Apple, Amazon, Lockheed Martin, Microsoft, Google, and Meta, with the full list spanning almost 40 names. Fun fact: The White House is 55,000 square feet, meaning the ballroom is almost half as big as the White House itself. Check out the full list of donors here - lots of big recognisable names - both individuals and companies.

3. IN MALAYSIA 🇲🇾

PN, Bersatu and all its drama

Muhyiddin’s end in the making since 2021: Perikatan Nasional is facing one of its toughest storms yet, and the thunder is coming from within Bersatu. What began as quiet grumbles about leadership has turned into open criticism, with several party figures now questioning whether Muhyiddin Yassin still has what it takes to lead. According to his former aide Marzuki Mohamad, the cracks appeared right after Muhyiddin stepped down as PM in 2021. Once out of office, some senior Bersatu leaders began to distance themselves. Messages went unanswered, loyalty waned, and Muhyiddin found himself sidelined by the very people who once stood by him.

Saifuddin sacked: Things escalated when Saifuddin was swiftly removed as Perikatan Nasional’s Pahang chief, a move that made the political drama even juicier. Muhyiddin’s loyalists quickly came to his defence, with party information chief Tun Faisal Ismail Aziz suggesting that “external influences” might be fanning the flames. He cited a survey by Institut Masa Depan Malaysia showing Muhyiddin’s approval rating at 41% compared to PM Anwar Ibrahim’s 30%.

PN “nearing death”: PAS, Bersatu’s main ally, is clearly worried. Former PAS leader Zuhdi Marsuki warned that Perikatan Nasional is showing signs of being “nearing death,” comparing it to past coalitions that fizzled out. With 43 parliamentary seats, PAS is now the dominant force in the alliance and is quietly preparing for the possibility of leading if Bersatu continues to falter.

TL;DR (we all need this): PN is facing major cracks as Bersatu leaders clash over Muhyiddin Yassin’s leadership. PAS, the coalition’s biggest party, warns the alliance is on the brink of collapse if internal disputes aren’t resolved. While some in Bersatu push for Muhyiddin to step down, his allies insist he’s still the main reason people support the party. Honestly, this drama is more drama than the Malay drama I watch on TV3. And this is how I react every time:

Monash’s big bet: A RM2.8 bil campus at TRX
Monash University Malaysia is going big, like really big. The university is set to build a RM2.8 billion campus right in the heart of Kuala Lumpur’s financial hub, Tun Razak Exchange (TRX) in collaboration with TRX master developer TRX City Sdn Bhd. Scheduled to open in 2032, the new campus will eventually accommodate up to 22,500 students and 1,700 staff by 2040. The investment is expected to generate a whopping RM19.1 bil in economic impact over the next decade. Australian PM Anthony Albanese called it a “major opportunity” for both countries, saying the move cements Malaysia’s status as a global education hub. The campus will introduce over 35 new courses focused on fields such as artificial intelligence, climate sustainability, digital health and advanced manufacturing. This development supports Malaysia’s long-term vision of building a skilled workforce and attracting high-value industries. Monash was established as Malaysia’s first foreign university campus in Sunway.

Malaysia vs Diabetes - drink labels get a sweet overhaul
The Health Ministry finally decided to tackle Malaysia’s sugar problem head-on. Say hello to the Nutri-Grade Malaysia label system, which grades drinks based on their sugar content. The rollout will start with ready-to-drink beverages before expanding to freshly made drinks at eateries and cafes.

Health Minister Dr Dzulkefly Ahmad explained that any beverage falling into Grade D, which means more than 10g of sugar per 100ml, will be banned from advertising altogether. The system is modelled after versions used in Singapore but focuses specifically on sugar content rather than overall nutrients. And it is about time. The National Health and Morbidity Survey 2024 found that nearly half of Malaysians’ free sugar intake comes from drinks. About 59% of adults consume at least one sugary drink daily, while 32% of adolescents do the same. The results are showing up on the scales - roughly one in five Malaysian adults now has diabetes, one of the highest rates in the world. Treating diabetes alone costs Malaysia around RM4.38 billion annually, according to government data. Add obesity, and the problem becomes even heavier, literally. More than half of Malaysian adults are now overweight or obese.

Shorts

1. Power failure behind KLIA Aerotrain disruption

   Another day, another Aerotrain hiccup. Tak habis2. Malaysia Airports says a power system failure — again — caused the KLIA Aerotrain to stall early Tuesday. The same issue cropped up just two weeks ago, courtesy of the same contractor. While MAHB promises quick fixes and smooth operations, passengers are left wondering if “temporary disruption” is becoming KLIA’s new slogan. There are already at least 21 reported disruptive incidents as of late Oct, bless the passengers’ patience.

2. Infamous Five

   Five teenage boys, all 17, were arrested after a viral video showed them pulling reckless motorcycle stunts and blocking an ambulance on the North-South Expressway. The incident happened on Oct 19 near Kuala Kangsar, when the ambulance was rushing to an accident scene. Police nabbed the teens in Bukit Mertajam. What’s going on with kids nowadays?

4. AROUND THE WORLD 🌎

Kopi Kenangan brewing a USD 200mil top-up — but for exits, not espresso? Indonesia’s Kopi Kenangan is lining up a USD 200mil (RM839.5 mil) round at a USD 1.2bil valuation, mixing primary and secondary sales to let early backers Peak XV Partners and Alpha JWC take some money off the table and bump their Distributed to Paid-in Capital (DPI: in simpler terms, it’s technical lingo for ROI in the private investment world), not because the company urgently needs cash. Peak XV and Alpha JWC have drawn early interest from global PE funds and Chinese consumer investors, with UBS advising on the sale process, though terms may shift.
Learn: What is a primary vs secondary sale?

Kopi Kenangan became a unicorn in Dec 2021, having raised a total equity of USD 155.3mil. With only just a USD200 mil bump in valuation after 4 years, either the company’s progress ain’t that great to justify a much higher valuation or its investors are fine with low valuation for a quick exit. The company aims to hit 1,700 outlets across 9 global cities by next year, up from over 1,200 currently, in 6 countries, including Malaysia, Singapore, the Philippines, India and Australia. In Negaraku, Kopi Kenangan has 130 outlets after operating over 3 years, with plans to end the year with 150 outlets and adding another 200 in 2026.

Over a million suicidal chats a week on ChatGPT
OpenAI says 0.15% of ChatGPT’s 800 mil weekly users talk about suicide. That’s over a million people, which is staggering how many are turning to AI in moments of crisis. The company also flags heightened emotional attachment at similar rates and estimates hundreds of thousands show signs of psychosis or mania in weekly chats, while stressing these cases are extremely rare and hard to measure.

In response, OpenAI says it consulted 170+ clinicians and claims the latest GPT‑5 gives desirable responses to mental health issues ~65% more often (in suicide-related evals) and GPT‑5 hits 91% compliance vs 77% previously and holds safeguards better in long conversations, historically a weak spot. A wrongful‑death suit by parents of a 16‑year‑old, plus warnings from California and Delaware AGs to protect young users, make this an existential issue for the company. OpenAI is adding new tests, rolling out more parental controls, and building a system to detect minors. Sam Altman says serious mental health issues have been mitigated, while also relaxing rules to allow erotic chats for adults. It’s a controversial move that is likely to spark debate over boundaries and safety trade‑offs. As always, talk to people, not just prompts.

dailylogophiles

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PayPal 🤝 OpenAI
Ads are coming to your LLMs! PayPal has signed a deal to embed its wallet inside ChatGPT, letting users buy items they discover in chat while merchants list goods directly in the app starting next year. CEO Alex Chriss says shoppers will get a “Buy with PayPal” button for secure checkout as PayPal positions itself as the payments backbone for OpenAI’s e‑commerce push and the rise of “agentic commerce”. PayPal will manage merchant routing, payment validation, and protections like tracking and dispute resolution, so sellers won’t need separate OpenAI onboarding.

Rare earths and red carpets: is US–Japan entering a ‘golden age’?
Donald Trump wrapped up the Japan leg of his Asia tour with a splashy welcome from newly appointed Prime Minister Sanae Takaichi, setting an upbeat tone for ties that both sides say they want to turbocharge. The duo inked a significant critical minerals and rare earths agreement and rolled out a joint statement declaring a new “golden age” for the alliance. They also reaffirmed earlier arrangements, including a recently negotiated 15% tariff deal, signalling continuity even as both governments recalibrate trade and security priorities. The optics matched the message — a full honour guard at the gilded Akasaka Palace and a lunch featuring American rice and beef paired with Japanese ingredients. Trump congratulated Takaichi on becoming Japan’s first female prime minister while pledging support for Japan in notably effusive terms.

The stagecraft extended to the USS George Washington, where Takaichi called the US–Japan partnership the “greatest alliance in the world” and flagged plans to boost defence spending. Trump also nudged Japan to buy more US rice. Somewhere between the glitz of Akasaka and the deck of a carrier, both sides tried to turn a ceremonial day into strategic momentum that markets and ministries can use.

Shorts

1. Amazon's 30,000-jobs bloodbath
   Amazon is axing up to 30,000 corporate jobs starting this week, nearly 10% of its white-collar workforce and the company's largest single layoff ever. The cuts are brutal - HR faces 15% reductions, while AWS, operations, and devices divisions also get hammered. CEO Andy Jassy is trimming pandemic bloat while pouring USD100 bil (RM419.75 bil) into AI infrastructure this year. He told employees in Jun that AI means “fewer people doing some of the jobs being done today”. The irony? Amazon's automation strategy aims to replace 500,000+ jobs by 2033.

2. Is China eating everyone’s lunch in nuclear power?
   Bill Gates claims China is investing in fusion “more than the rest of the world put together, times two,” while pushing hard on advanced fission too, as global AI and data centre power needs soar. Gates argues China already leads in EVs, solar, batteries and critical materials and is racing to add next‑gen nuclear to that list. He sees nuclear as key to powering AI-era data centres and lowering electricity costs, with the US data centres alone on track to consume 9% of power by 2035, over double 2024 levels. Bloomberg Intelligence even pegs a potential USD350 bil (RM1.47 tril) nuclear spend boom tied to that demand.
   Fusion and fission are 2 types of nuclear reactions that release energy. Fission, used in current nuclear reactors, splits a heavy atomic nucleus into smaller one whilst fusion, which happens in the sun, combines 2 light nuclei into a heavier one.

5. FOR YOUR EYES 📺

1. World’s strongest storm, Category 5 Hurricane Melissa is going to slam into Jamaica. Its slow-moving motion, torrential rain and wind speed of up to 175 km/h is expected to create “catastrophic event”. Stay safe, people of Jamaica. A plane flew into the eye of the storm. Scary as it is, the views are majestic.

2. Iqbal from Cilisos explains the different types of institutions (inclusive vs extractive) that determine the ‘quality’ of corruption in a country.

iqtodabal

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3. Work better under pressure and surveillance? We need a Cikgu Disiplin version. Full video here.

dumitru_developer

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