☕️ When the sound of pickleball at the wrong hour leads to a fight

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

70% – Since 2022, 70% of the cases reported to the Financial Industry Regulatory Authority or the US Securities and Exchange Commission have involved shares in Chinese companies. These involve classic “pump-and-dump” schemes, where false information was spread to artificially inflate stock prices before the market manipulators suddenly sold their shares to lock in their profits. Reports of such market manipulation have also quadrupled in 2025 compared to 2024, according to the US Federal Bureau of Investigation.

RM2.97 bil – In Malaysia, the Inspector General of Police reported that the amount was lost to online scams in 2025, a substantial increase of RM1.4 bil compared with 2024’s RM1.57 bil, reflecting an increasingly worrying trend in cybercrime. He added that non-existent investment scams accounted for the largest share of losses, amounting to RM1.47 bil. A total of 66,204 online fraud cases were recorded in 2025, an 87% increase from the 35,368 cases reported in 2024. Phone scams remain the main threat, with 28,388 cases reported in 2025.

RM9.08 mil – A 79-year-old man in Kuching lost that much after falling victim to a fake share and IPO investment scheme through a mobile application. The scammer contacted the victim in Jan 2026 offering high returns from the investment. The victim, enticed by the high returns, made 27 online money transfers into nine different bank accounts. However, he only received a one-time return of RM1,000. He realised he had been cheated after failing to withdraw his capital or the profits displayed in the application.

3. IN MALAYSIA 🇲🇾

PETRONAS secures an important power deal with Turkmenistan
At times when energy security is becoming the No.1 priority of many nations, PM Anwar Ibrahim applauded our national oil & gas company PETRONAS’ achievement in securing one of the world’s largest gas fields. By striking a deal with Turkmenistan, PETRONAS alleviates concerns over domestic gas supply shortages while enhancing the company’s ability to continue exporting gas to countries such as Japan, South Korea, China, and several others. The deal is not transactional on PETRONAS becoming the operator of the gas field alone, but PETRONAS will also provide Turkmenistan with technology transfer opportunities, training exposure, including at Universiti PETRONAS, and the Malaysian Technical Cooperation Programme (MTCP) in collaboration with the Ministry of Foreign Affairs. Turkmenistan (view map here) is a landlocked, highly centralised country in Central Asia, bordered by the Caspian Sea, Kazakhstan, Uzbekistan, Afghanistan, and Iran. Home to over 7 mil people, it holds the world’s fourth-largest natural gas reserves.

Gearing up for Johor election

DAP named four candidates for the Johor state election
DAP Secretary General Anthony Loke announced the names of the four DAP candidate that will attempt to challenge Barisan Nasional’s (BN) almost-complete monopoly for the upcoming state election. The candidates are Nor Zulaila Abd Ghani, 38, Lee Wern Yiing, 30, Mohamad Shafwan Ani, 33 and Wong Bor Yang, 40, who will contest for the Tiram, Johor Jaya, Bukit Permai and Senai seats respectively. Three of them are fresh faces, while Wong Bor Yang is the incumbent and will defend his seat. Previously, DAP announced 33-year-old lawyer Chu Poh Yee to defend the Mengkibol seat.

Pakatan Harapan (PH) remains mum on announcing its poster boy for the Johor state election, and it may be a smart move as PH does not want to upset Johor’s royals. While Johor is a constitutional monarchy, it is no secret that the state palace has exercised significant influence over politics in the state, including who becomes menteri besar.
Read: How Johor’s influence may make naming MB candidate a bad idea for non-BN parties

Parti Wawasan Negara has announced its central leadership roster
Parti Wawasan Negara has appointed the Opposition Leader, Hamzah Zainudin, as its president and former UMNO veteran, Dr Rais Yatim, as its chairman. The party also announced several former Bersatu key persons as its central leadership line-up, including former Johor Bersatu Associate Chief Tan Lek Khang as deputy president, Indera Mahkota MP Saifuddin Abdullah, who was previously sacked from Bersatu, as secretary-general and Machang MP and former Bersatu youth chief, Wan Ahmad Fayhsal Wan Ahmad Kamal, as information chief. Interestingly, Rais Yatim was seen as the central figure in pushing for the proclamation of Tunku Nadzaruddin Tuanku Jaafar as the 12th Yang di-Pertuan Besar Negeri Sembilan during the state’s royalty crisis.

One makes money, one loses money

Recycling cooking oil: PETRONAS Dagangan Bhd has expanded its used cooking oil (UCO) collection initiative to 100 collection points nationwide. The company sees this initiative as a means for the public to turn kitchen waste into an additional source of income while encouraging the proper disposal of used cooking oil through approved channels. As of March 2026, PETRONAS Dagangan's used cooking oil collection initiative has expanded to 100 stations nationwide, with more than 1.6 mil kilograms of UCO collected. It has generated approximately RM4.8 mil in returns for more than 560,000 participants. Of course, PETRONAS isn’t all about CSR, ESG - it helps its pockets too as used cooking oil can be used to produce sustainable aviation fuel.

Failed dairy business: FGV Holdings Bhd has shut down its 60%-owned dairy unit, FGV Dairy Farm Sdn Bhd, leaving 112 farmers and vendors in a deep hole, owing them up to RM4 mil collectively. Many of the farmers and vendors are resorting to legal action to recover the amount, most of which individually range between RM50k and RM100k. Apart from owing the farmers and vendors, FGV Dairy Farm also owes RM10.3 mil to Bank Pertanian Malaysia Bhd (Agrobank), where the bank plans to auction off the company’s assets, including a farm in Linggi, to recover the amount owed.

Shorts

1. Social pickleball turns into a physical altercation

   How do you find the sound of pickleball? To some, bad enough to trigger them to start a fight. Following an incident where a midnight pickleball session turned into physical altercation involving the police, it has now become a public debate regarding the operating hours of pickleball courts. Many users on Threads did not condone the action of the resident, stating that the pickleball’s ‘pek pok’ sound could be disruptive, especially after 10 PM. The incident highlights growing tension between the sport’s increasing popularity and residents’ right to peace and quiet, particularly as more commercial courts open in densely populated neighbourhoods. Read the incident below.

2. The e-MC system may be introduced

   Health Minister Dr Dzulkefly Ahmad said that his ministry is studying the implementation of a digital medical certificate (e-MC) system as part of efforts to curb the problem of fake sick leave certificates. MCs can only be issued by a doctor or medical officer treating the patient, and some individuals are profiting from fake MCs, including a nurse in Pekan, Pahang, who is allegedly involved in the sale and purchase of suspected fake MCs. The authorities believe there’s a ‘holiday master’ syndicate that has been actively forging the names of doctors and private clinics since 2016.

4. AROUND THE WORLD 🌎

US-Iran now in Switzerland to nego, whilst Hormuz still closed
Washington and Tehran began talks in Switzerland yesterday, beset by difficulties including an Iranian decision to keep the Strait of Hormuz closed in protest at Donald Trump’s inability to force Israel to end the fighting in Lebanon. The first clause of the memorandum of understanding published last week requires a ceasefire on all fronts, including Lebanon, where fighting has escalated between Israel and the militant group Hezbollah. US Vice President JD Vance said that he was adding Lebanon into the negotiations, among other agendas that focus on the opening of the strait, the lifting of US sanctions on Iranian oil exports and the unfreezing of Iranian assets held overseas.

I can, but you cannot
Separately, Trump has posted on Truth Social that there will be no tolls for passage through the Strait of Hormuz, unless they are collected by the US. Under the terms of the ceasefire memorandum, the strait is supposed to reopen for an interim period of 60 days, and during that time, Iran is barred from charging vessels for passage.

Goodbye Air Force One, hello Qatar Force One?
The White House had bid goodbye to one of the two jets that have been used to transport US presidents for more than 30 years, fuelling speculation that a Boeing 747 controversially gifted to Trump by Qatar is now due to enter service. The ageing aircraft is one of two heavily modified 747s – VC-25As in military parlance – that entered service in 1990 and are designated Air Force One when the president is aboard. The US Air Force confirmed that the Qatari plane, known as the VC-25B Bridge aircraft, “will soon join the active executive airlift fleet alongside the VC-25A and C-32.” Qatar’s gift of the jet, valued in the hundreds of millions of dollars, has raised major ethical and constitutional issues about what kind of gifts a president should receive from abroad. But Trump never refuses pretty, shiny things.

Beware of the Grand Theft Auto 6 scam
Grand Theft Auto (GTA) enthusiasts worldwide are now vulnerable to a rising scam that preys on the anticipation of gamers eager to experience the next chapter in the GTA series. Scammers send emails and fake websites, telling players that they are part of an exclusive group that gets to play the game early so they can identify any glitches. In order to gain access to the game, players may be asked for personal details such as name, address and date of birth or their login for the existing online game. This information can then be sold on by criminals. GTA VI is scheduled to arrive on Nov 19 after its release was postponed twice. To date, there is no legitimate beta testing programme for GTA VI announced, so treat any offers of early access with scepticism. Btw, real life GTA - thieves with bulldozer carried out ATM heist in 4 minutes.

More high-level Indonesian corruption cases
Four former executives of two Indonesian state-owned venture capital firms were convicted of corruption and jailed between 2 and 5 years for investing USD25 mil in an agricultural startup, Tanihub, that went bust. MDI Ventures, a subsidiary of state-owned telecom provider Telkom, invested USD 20 mil, while another company, BRI Ventures, a subsidiary of state-owned Bank Rakyat Indonesia, invested USD 5 mil. Tanihub raised about USD 100 mil between 2016 and 2021, but collapsed under a mountain of debt in 2024. The cases are among several in Indonesia that have contributed to investors losing confidence in Indonesia. The next controversial graft case expected to reach a verdict, in the next few weeks, is the trial of former Education Minister Nadiem Makarim, who allegedly benefited from Google’s investment in Gojek. Also, not too long ago, the scandalous unicorn company eFishery graft case involved a total financial wipeout estimated between USD 300 mil to USD 383 mil.
Read: Tech founder’s downfall in Indonesia shows rising business risks

India’s Jio Platforms files for USD 3.8 bil IPO
India’s Reliance Jio Platforms has filed regulatory papers for a Mumbai initial public offering (IPO) with the aim of raising around USD 3.8 bil, a record listing for the country. The amount is equal to about 2.9% of its post-issue equity, valuing the business at around USD 131 bil. Owned by Indian billionaire Mukesh Ambani, Jio Platforms include a telecommunications business that is the world’s second-largest operator by single-country subscribers after China Mobile. It counts Meta and Google among its major foreign investors. The IPO prospectus, which did not contain the fundraising target, said proceeds will be used to repay an estimated IND 275 bil of Reliance Jio Infocomm’s debt.

Shorts

1. Paraguay’s Almiron sent off for covering his mouth

   Paraguay’s midfielder Miguel Almiron has become the first player to be dismissed from the FIFA World Cup 2026, for violating a strict new FIFA rule that forbids the covering of mouths during on-field confrontations. Almiron was seen “confronting” Turkiye’s Mert Muldur under the cover of his hand, resulting in him being given a red card from the referee, leaving Paraguay with 10 men to fend off an entire half of unrelenting Turkish attacks. Nevertheless, Paraguay won 1-0, which kept their faltering World Cup ‌alive and condemned Turkiye to a miserable early exit. The dismissal means he will miss Paraguay’s decisive final Group D match against Australia on June 22.

2. Pakistan to remove ‘period tax’ on sanitary products

   Pakistan government has announced the planned abolishment of the “period tax” on sanitary towels and related items in the country. The announcement came after a campaign run by young campaigners against period poverty, which was hugely successful on social media. Pakistani period rights organisation said the decision was “just one step towards combating period poverty” in the country, where commercial sanitary products can only be afforded by a minority of women in Pakistan. The organisation also continues to fight for access to clean water, sanitation facilities, accurate menstrual education and a society free from period stigma. And it’s not cheap being poor too, having to suffer the poverty premium.

   Learn: What is period poverty?

5. FOR YOUR EYES 📺

1. An interesting documentary on the history of FIFA, and how powerful the organisation is in exerting its influence on governments to give up their sovereignty, to an extent.

2. 7.7 mil likes. Stephen Chow really need to bring them on if there ever be a Shaolin Soccer 2.

3. Some adrenaline to kick start your Monday morning. Have a good start to the week! Full video here.