☕️ AI could displace 620,000 jobs in MY

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

620,000 jobs, or 18% of the 3.5 mil employed in 10 key sectors of the Malaysian economy, are at risk of convergence or displacement due to advancements in artificial intelligence (AI), digital technology, and the green economy, according to a study by Talent Corporation Malaysia Bhd (TalentCorp). That’s if they do not reskill or pivot to an adjacent role. The study, focusing on sectors such as aerospace, energy, ICT, and pharmaceuticals, found that these sectors contributed 60% or RM933 bil to Malaysia’s GDP in 2023. In the next 3-5 years, 53% or 1.8 mil employees in these sectors are expected to face medium-level impacts.

USD1.6 mil (RM7.15 mil) in media impact value (MIV) was generated by Lisa of Blackpink with a single Instagram post during the 2024 Victoria’s Secret Fashion Show last month. This was part of the brand’s return to the runway after a hiatus since 2018, attracting a global media frenzy. Overall, the show generated USD304.8 mil in MIV, nearly matching the entire media impact of New York Fashion Week in September, which featured the spring 2025 collections.

As of December 31, 2023, the National Higher Education Fund Corporation (PTPTN) in Malaysia had approved 3,951,404 education loans, amounting to RM71.3 bil. However, over 2.7 mil of these loans, totaling RM32 bil, remain unpaid. The distribution of these loans shows that 72% were granted to Bumiputera students, while 28% were to non-Bumiputera students. With such bad debt rates, PTPTN is mulling to hold funding for university courses where student repayment rates fall below 30%.

3. IN MALAYSIA 🇲🇾

The Ministry of Health is working on a super app for healthcare services
A super application (superapp) is being developed aimed at enhancing healthcare services in Malaysia, including features for ambulance requests, according to Deputy Minister Lukanisman Awang Sauni. This initiative seeks to empower the healthcare system through digitalisation, ensuring that users can request ambulance services for both the public and private healthcare sectors. Additionally, there will not be any incurring fees when going to government hospitals. The ambulance request function will largely be for urban areas like Kuala Lumpur, Johor Bahru, and Kuching. For rural and interior areas, the 999 emergency line will still remain operational.

Discussions with stakeholders and industry players are still ongoing, as the ministry wants to refine the initiative before its full implementation. Lukanisman also noted that the development of this superapp aligns with the growing trend of e-hailing services. The announcement was made following the signing of a memorandum of understanding between MOH and the National Heart Institute for a cardiovascular education program.

Sounds familiar- whatever happened to the MySejahtera superapp? 

Global Ikhwan Services and Business Holdings (GISB) children’s health severely impacted
For the rescued children from GISB in Selangor, their woes did not end there. Health screenings conducted on 266 children rescued revealed health issues, with a whopping 26.8% of the children classified as stunted. The screenings, carried out by the Selangor Health Department in collaboration with private health experts, also indicated that 6.8% of the children faced severe stunting problems.

Mental health assessments showed that 78 children were experiencing depression, primarily at mild levels, while 89 exhibited symptoms of anxiety. Children found to be in the moderate level will be referred to a counsellor or clinical psychologist, while those whose levels are deemed severe are set to see psychiatrists. Besides that, 22% of six-year-olds had speech difficulties. 

After two months in care centres run by the Social Welfare Department, 38.6% of the children gained weight, with a dedicated paediatrician reviewing health results to review the need for further interventions. Regarding religious beliefs, a survey found that only 10% of children had critical belief issues, while 15% faced challenges with Islamic practices.

Academically, the children performed well in Malay and Mathematics but struggled with English proficiency, with eight identified as having special educational needs.

Jho Low whereabouts located?
Answering a question regarding why authorities are still unable to nab Jho Low at a forum discussing high-profile cases, lawyer Shafee Abdullah expressed his suspicion that the fugitive is currently residing in Myanmar under the protection of its military junta. Shafee based this assertion on his cross-examination of Jasmine Loo Ai Swan.

Loo is a former legal counsel for 1Malaysia Development Berhad (1MDB) who was considered a proxy for Jho Low. She testified that she entered Myanmar in 2019 and remained there until 2023 after receiving travel documents arranged by Jho Low to appear as a Myanmar local, besides claiming she was not under house arrest but was escorted by the military upon arrival. A little Bonnie and Clyde action here.

Thailand nationals allegedly illegally entering Malaysia to go to school
After a local daily reported that nearly 500 students from Thailand are using illegal crossing points daily to attend school in Malaysia, Education Minister Fadhlina Sidek announced that the Ministry of Education would investigate the situation, emphasising that if these children are Malaysian citizens, they should utilise the educational facilities provided by the government without needing to cross illegally.

On top of the report, a survey revealed that students, paying RM1 each for the journey, begin waiting for boats as early as 6:30 AM to travel across Sungai Golok, with five popular illegal bases identified, including Jambu, Ibrahim Pencen, and Paun.

Kelantan police chief Yusoff Mamat stated that police will begin cracking down on illegal crossings starting December 1. In regards to students both local and from Thailand, Yusoff reiterated the importance of using the Rantau Panjang Immigration, Customs, Quarantine and Security (ICQS) Complex as a legal entry point.

Shorts

1. 15-year-old finds himself RM13,000 in debt

   As part of a larger program codenamed Operasi Darul Muttaqim aimed at resolving issues with Ah Longs and debts, a teenager has found himself in hot water with 17 different loan sharks, with his first encounter coming from a Tiktok advertisement. Get this, his first-ever loan? An ikan siakap tiga rasa dish to satisfy his girlfriend’s cravings.

2. StashAway Malaysia’s asset under management surpasses 9 digits

   The Malaysian arm for StashAway, a Singaporean digital wealth management arm, has surpassed RM1 bil in assets under management as of 2023. The company now manages over 50,000 clients in Malaysia, saving over RM130 mil in fees as StashAway differentiates itself from its competitors by eliminating outdated practices like exit fees. StashAway is actually Malaysia’s first robo-advisor to receive a Capital Markets Services License.
   Read: What is a robo-advisor?

4. AROUND THE WORLD 🌎

Climate crisis:

1. Worsening drought leads Ecuador to declare 60-day state of emergency to help battle wildfires

   Ecuador is in the midst of its worst drought in 60 years, leading the country into a water crisis and now ravaging wildfires. The country’s emergency management agency declared on Monday a 60-day state-of-emergency that will allow the government to mobilise funds and send more people to help fight the fire that has ravaged vast areas over the past weeks. 13 active wildfires have been reported in southern Ecuador, affecting about 10,200 hectares of forest and land. The drought, which has steadily gotten worse since the latter half of 2023, has been linked to the El Nino weather phenomenon and to climate change.

2. Delhi air pollution chokes residents as it hits ’severe plus' air quality levels

   Meanwhile in Delhi, India, the Air Quality Index has hit pollution levels of 1,500, according to tech company IQAir. The reading is 15 times the level the World Health Organization (WHO) considers satisfactory for breathing. The toxic air has engulfed the capital city in a thick smog, sending residents into hazardous breathing conditions. Flight services have been disrupted, schools are shut and construction works are already banned in the city. Entry of non-essential trucks into Delhi is also banned, and offices asked to let 50% of their staff to work from home. Delhi, India’s northern states and parts of Pakistan battle hazardous air during the winter months of October to January every year, due to plummeting temperatures, smoke, dust, low wind speed, vehicular emissions and crop stubble burning.

Happening in China — you won’t cancel us for putting Hong Kong news under China, right?

1. 45 Hong Kong pro-democracy activists sentenced to jail

   45 pro-democracy activists were sentenced to 10 years of jail time by Hong Kong's High Court on Tuesday, following their arrest in 2021 for conspiracy to commit subversion, under a Beijing-imposed national security law. The activists were accused by prosecutors of plotting to paralyse the government by engaging in potentially disruptive acts had they been elected. Some Western governments are quick to criticise the trial, with the US’s Marco Rubio describing it as a "comprehensive assault on Hong Kong's autonomy, rule of law, and fundamental freedoms." Taiwan's presidential office also condemned the jailings, saying democracy and freedom are universal values. The Chinese and Hong Kong governments say the national security laws were necessary to restore order after mass pro-democracy protests in 2019, and the democrats have been treated in accordance with local laws.

2. Beijing pledges to open up markets in Hong Kong amid geopolitical concerns

   Meanwhile, China policymakers had pledged to move ahead with capital market reforms and the opening up of its financial sector for foreigners, while supporting Hong Kong in bolstering its credentials as a global financial hub. China Securities Regulatory Commission (CSRC) chairman Wu Qing added that China would remove investment barriers and implement supporting measures while deepening capital market reforms. The pledges were made at the Global Financial Leaders' Investment Summit in Hong Kong, amid growing geopolitical tensions following Donald Trump's election as the next US president, and a destabilising slowdown in the world's second-largest economy.

3. Another driver rammed a car into the public in China

   Fears over public safety are increasing in China - in the third attack on a crowd in China within a week, a driver of a white SUV was reported driving into a crowd of people outside Yong’an Primary School in Dingcheng District, Hunan Province. No details of casualties were reported, but there were multiple injuries among students and adults who were hit and fell to the ground. Violent crimes are uncommon in China, but this series of mass attacks has drawn attention to the threat of individuals with personal grievances seeking revenge against society. According to police records, there have been 19 incidents of indiscriminate violence in China this year in which the perpetrator was not known to the victims. 63 people have been killed and 166 injured in these attacks - a sharp increase compared to data from previous years.

Airbnb's pitch for a gladiator fight in Rome's Colosseum not well-received by local lawmakers
Fighting like a gladiator in the historic ambience of Rome's Colosseum may sound like an epic endeavour, however, local lawmakers are not very keen on the prospect. Airbnb, which happens to be in a USD1.5mil tie-up with Colosseum Archaeological Park, is planning to host gladiator fights in the Colosseum, where 16 participants will be picked to fight in a mock battle in May 2025, dressed in gladiator garb.  The event will be hosted by Lucius, the main character in the film directed by Ridley Scott which is set to release in the US on Friday. Rome's councillor for culture spoke out in opposition to the event, calling it a reflection of hyper-tourism in their cities and risk it becoming a “Disneyland” for the rich and making the cities "lose their identity." Another councillor accuses it as a publicity stunt by Airbnb.

Maori people gathered to protest the country’s ancestry documents amendment
40,000 people have gathered outside New Zealand’s parliament in a 9-day peaceful protest aka hikoi, to protest against a bill seeking to reinterpret the country's founding document between British colonists and Māori people, which make up about 20% of the country’s 5.3 mil population. Named The Treaty Principles, it argues that New Zealand should reinterpret and legally define the principles of the 1840 Treaty of Waitangi, a document seen as fundamental to the country’s race relations. Although it will most likely not pass into law, the proposition has stirred division among New Zealanders, with critics of the bill seeing it as an attempt to take rights away from Māori people and supporters of the bill believing that it is an effort to establish equal rights in NZ.

5. FOR YOUR EYES 📺

1. Prepare some tissues as you read through Roger Federer’s letter to Rafael Nadal.

2. If you have watched Culinary Class Wars, you might enjoy the videos from Paik Jong Won’s channel — sort of like B-takes of the show. Paik invited chefs from the show and spoke about the show. In the video below, he invited his partner judge chef, Anh Sung Jae, to elevate a very simple dish.