Morning Brief

The government has a fiscal deficit target of 4.3% for 2024 and 3.0-3.5% for 2025. To achieve that goal, widening the government's revenue base seems obvious. Is tax reform the solution and what should the government focus on? Soh Lian Seng, Head of Tax at KPMG Malaysia gives us his views.Brought to by Mah Sing. Reinvent Spaces. Enhance Life.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Malaysia's F&B sector recorded RM229 billion in revenue last year and is projected to grow at an annual rate of 8% until 2027. Dato’ Jawahar Ali Taib Khan, President of Persatuan Pengusaha Restoran Muslim Malaysia (PRESMA), shares his wishlist and addresses issues facing the industry, from subsidy cuts to the introduction of new taxes amongst market participants.Brought to you By Man Sing. Reinvent Spaces. Enhance Life.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Joko Widodo will be handing over Indonesia's presidency to the elected Prabowo Subianto, after a decade in power where he governed for two terms. Johannes Nugroho, a writer and political analyst discusses the legacy that Jokowi is leaving behind while anticipating what Prabowo might bring to Indonesian politics.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Last year’s budget reflected the renewed ambition of the Madani Government to accelerate the country’s energy transition and catalyse new investments in the green economy. But this cannot be divorced from the broader climate action agenda of reducing carbon emissions, including the importance of nature-based policies. How can Budget 2025 best balance all the necessary elements for an effective national climate strategy? Dr. Gary Theseira of Climate Governance Malaysia weighs in.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

China's property sector has been experiencing a prolonged downturn since its 2021 peak, prompting Beijing to come up with various stimuli to address the issues. Kristy Hung, the senior industry analyst of Asia real estate at Bloomberg Intelligence analyses the impact of these measures and whether or not more could be done.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Singapore’s economy grew by 4.1% in the third quarter this year, beating economist projections and outpacing Q2 growth of 2.9%. Meanwhile, the Monetary Authority of Singapore also maintained its policy settings amid inflation outlook risk. We discuss what’s in store for the Singapore economy for the remainder of the year with Selena Ling of OCBC Bank.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Tourism and hospitality players are hoping for an RM85 million allocation when Budget 2025 is tabled, to improve Malaysia's tourism industry. This comes as Malaysia achieved 60% of its full-year target of 27.3 million international tourists for 2024. Nigel Wong, President at Malaysian Association of Tour and Travel Agents (MATTA), shares his insights.Brought to you By Mah Sing. Reinvent Spaces. Enhance Life. Image Credit: Shutterstock.com See omnystudio.com/listener for privacy information.

Beijing held a long-awaited press conference last Saturday to reveal some details on the fiscal stimulus such as the issuing of special bonds and making it easier for local governments to borrow money, though no figures have been revealed yet. We speak to Brock Silvers, CIO of Kaiyuan Capital to get his input on whether the latest stimulus package will indeed help boost China’s floundering economy.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

As part of our pre-budget series, we explore the demands and expectations of construction players. In Budget 2024, the government rolled out several big-ticket projects, such as the Pan Borneo Sabah Phase 1-B and the Penang LRT. Will this year be the same or even better? We speak with Oliver Wee, President of the Master Builders Association Malaysia (MBAM), about his budget wish list.Brought to you By Mah Sing. Reinvent Spaces. Enhance Life.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Global supply chains have faced numerous challenges this year, everything from geopolitics to severe weather to limited vessel capacity and most recently a port workers' strike in the US. Chris Rogers, Head of Supply Chain Research at S&P Global Market Intelligence gives us an analysis of the current situation and what this might signal for the future.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

The Ministry of Agriculture and Food Security recently announced several reforms to the agri-food sector, including the potential removal of egg subsidies and the consolidation of enforcement agencies. How effective will these measures be in strengthening Malaysia’s agricultural productivity and food security? We discuss the issues at play with food security expert Prof. Dr. Fatimah Arshad.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Yesterday marked the Opening Ceremony of the 44th and 45th ASEAN Summits and Related Meetings in Vientiane, Laos. Regional leaders, including our Prime Minister, Datuk Seri Anwar Ibrahim, have arrived to participate in the discussions. This year’s summit tagline is “Enhancing Connectivity and Resilience.” Bunn Nagara, Director and Senior Fellow at the BRI Caucus for Asia-Pacific, will join us to share his perspective on the summit. He is also the Honorary Fellow at Perak Academy.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

This year's theme for World Mental Health Day emphasizes ‘Mental Health At Work’, with the World Health Organisation (WHO) revealing that approximately 12 billion working days are lost to depression and anxiety each year. What kind of policies would strengthen mental health resilience in the workplace? We discuss the level of awareness and interventions needed with Anita Abu Bakar, President & Founder of the Mental Illness Awareness and Support Association Malaysia (MIASA).Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

A viral video of Palestinian refugees expressing frustration after being denied permission to leave their accommodations has prompted discussions among Malaysians about the country’s stance on the cause. Although this incident underscores that the actions of a few do not represent the entire community, it does highlight the need for better policies and support systems to address the holistic needs of refugees. Dr. Melati Nungsari, Associate Professor of Economics, Asia School of Business shares her insights on the essential changes required to tackle these challenges.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Vietnam’s economy grew by 7.4% in the third quarter of this year, marking its strongest growth in two years. Hanoi's economic performance exceeded expectations, with strong exports and industrial production helping to offset the impacts of Typhoon Yagi—considered the worst in seven decades. Brian Lee, an economist from Maybank Investment Banking Group discusses the outlook for Vietnam’s economyImage Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Last month, the Asian Development Bank has forecast that India’s economic growth will remain robust with GDP expected to increase by 7% this year and 7.2% next year. The Nifty 50 Index is also at historical highs, having breached the 26,000-point level in late September. Avi Satwalekar, President of Franklin Templeton Asset Management India shares some insights.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Parti Pribumi Bersatu Malaysia has re-elected Tan Sri Muhyiddin Yassin as president, while secretary-general Datuk Seri Hamzah Zainudin is elected deputy president, both uncontested. Dr Azmi Hassan, Senior fellow at the Nusantara Academy for Strategic Research gives some insights into the party's direction with the vice-presidency still up for grabs, and the losses faced from the recent Mahkota and Nenggiri by-elections.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

The digital creative industry in Malaysia is flourishing, making some RM6.3 billion ringgit in revenue in 2022 and attracting RM1.6 billion in investments. What kind of policies would further advance the industry in the age of A.I. and amid fierce competition? Irwan Junaidy, Co-founder & Chief Creative Officer of The R&D Studio, discusses the future potential and innovative trends shaping this vibrant market.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

In an effort to elevate Malaysia’s rankings in the Corruption Perception Index (CPI), the government has formed a Special Task Force, which met for the first time last week. We speak to Dr Muhammad Mohan, President of Transparency International Malaysia who is a part of the task force, for more information on the group's mandate and the initiatives needed to boost Malaysia's CPI ranking.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Control of Cigarette Products Act, effective 1 October, aims to safeguard children and teenagers by regulating the sale of tobacco and vape products while prohibiting smoking in 28 locations. The government has introduced a two-phase plan for implementation that includes immediate enforcement alongside an educational campaign. Roslizawati Mohd Ali, Executive Board Member, Malaysian Council of Tobacco Control shares her insights on the effectiveness of these new regulations.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

More Chinese are expected to travel overseas during the Golden Week holiday period running from 1 - 7 October. Will Malaysia be a beneficiary of improved consumer sentiment? We discuss the tourism trends and policy initiatives needed to boost the industry with Nigel Wong of the Malaysian Association of Tour and Travel Agents (MATTA).Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Madani Government has made 95 political appointments to federal statutory bodies and government-linked companies so far, a relatively lower number than previous administrations. How can the appointment process be made more transparent? Doris Liew, Assistant Research Manager of the Public Finance Unit at IDEAS Malaysia, unpacks the think tank’s latest report.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Malaysia has been making efforts to develop its digital infrastructure, by introducing a national cloud policy and regulations, to ensure the ethical use of AI. Woon Tai Hai, Advisor at the National Tech Association of Malaysia (PIKOM), give his insights into what the AI Technology Action Plan (2026 to 2030) might do to help Malaysia compete in this new global landscape.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Silver surged to their highest level since 2012, driven by expectations of further interest-rate cuts from the Federal Reserve. while gold recently hit a new high. Are there still legs to this rally? Christopher Wong, FX Strategist, OCBC gives us that answer and what their house view is on their respective year-end prices.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Sri Lanka's political future appears clearer and hopefully more promising after Anura Kumara Dissanayake won last month's presidential election, the first candidate not connected to a political dynasty. Dr Ahilan Kadirgamar, a political economist and senior lecturer at the University of Jaffna, shares his take on how a Dissanayake administration might address the current economic state the country is experiencing after it declared bankruptcy in 2022.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Iran's missile attack on Israel, involving nearly 200 projectiles, significantly escalates tensions in the Middle East. Despite most missiles being intercepted, the incident highlights the region's precarious security amid ongoing conflicts and a worsening humanitarian crisis in Gaza. For insights, we speak to Dr. James Dorsey, adjunct Senior Fellow at the S. Rajaratnam School of International Studies.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

The two vice-presidential candidates are set to debate each other. The Democrat candidate Tim Walz is expected to focus on social equity and policies that support families and small businesses, while the Republican JD Vance will likely champion increased tariffs and lower corporate taxes. Bryan DeAngelis, partner & head of the Washington office of the Penta Group share his insights into what we can expect from the exchange.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Prime Minister Datuk Seri Anwar Ibrahim has outlined five key strategies to eradicate poverty in Malaysia. One of the standout measures is the use of net disposable income as a tool to identify those eligible for poverty relief assistance. For further insights into the effectiveness of these strategies, we speak to Prof. Dr. Yeah Kim Leng, Deputy President of the Malaysian Economic Association.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Selangor has revealed that there are more than 200 illegal e-waste recycling facilities across Malaysia, with several identified in Rawang and Hulu Selangor. There are concerns also that these plants use hazardous methods, such as open burning or unsafe chemical processes, to extract valuable metals from electronic waste. Mohamed el-Fatatry, CEO & Founder of ERTH or Electronic Recycling Through Heroes, shares his thoughts on the current situation.Image Credit: Shutterstock.com See omnystudio.com/listener for privacy information.

The Ringgit has been the dark horse this year, appreciating by 11% on a year-to-date basis. In fact, the best performing in Asia. We speak to Saktiandi Supaat, Head of FX Research, Global Markets, Maybank Singapore to understand why and if this trend can continue whilst looking at the Yen, Yuan, Pound and even the Greenback.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

The latest State of the Household 2024 report from the Khazanah Research Institute revealed that 90% of EPF members under the age of 30 are not projected to meet the RM240,000 savings target by retirement age, with income and expenditure trends exacerbated by the Covid-19 pandemic. What are the factors that need to be addressed to avert a generational retirement crisis? We discuss findings from the report as well as policies to consider with Shazrul Ariff Suhaimi of Khazanah Research Institute.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

The Mahkota state by-election saw the Barisan Nasional secure 79% of the votes trouncing Perikatan Nasional, ensuring the state remains firmly under the BN administration. Dr Syaza Shukri, Associate Professor at the International Islamic University of Malaysia, analyses the results.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Japan is set to elect a new Prime Minister on Tuesday after Shigeru Ishiba won the leadership election of the ruling Liberal Democratic Party (LDP). What challenges will he need to overcome ahead of the mandated general election within a year? We discuss this with Tokyo-based journalist William Pesek.Image Credit: shutterstock.com See omnystudio.com/listener for privacy information.

Recently, education minister Fadhlina Sidek confirmed that the UPSR primary school assessment and the PT3 form 3 exams which were abolished in 2022 will not be reinstated. However, the deputy prime minister Datuk Seri Ahmad Zahid Hamidi believes these national exams provide a necessary benchmark to measure education levels. Nina Adlan Disney, Executive Director at LeapEd Services, weighs in on this debate.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Malaysia's energy landscape is at a crucial crossroads, with Economy Minister Rafizi Ramli highlighting that natural gas is expected to account for 56% of the country’s energy mix by 2050. In addition, Malaysia is advancing in carbon capture, utilisation, and storage with the CCUS Progressive Regulatory Framework Bill set to be tabled in November. As Malaysia charts this path, how can the country ensure a smooth transition without jeopardising economic stability and jobs in the fossil fuel sector? Ts. Syed Saggaf Syed Ahmad of the Malaysian Oil, Gas and Energy Services Council (MOGSC) weighs in. Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Israel has signalled it is ready to invade Lebanon following weeks of intense bombardment, ostensible against Hezbollah targets. Hezbollah has responded with rocket attacks which were mostly intercepted by Israel's defences. Dr James Dorsey, Adjunct Senior Fellow at the S Rajaratnam School of International Studies, shares insights into how the current conflict is escalating. Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

The Health Ministry wants to expand private wings at public hospitals as part of a hybrid model termed “Rakan KKM” to address the financial sustainability of public healthcare. Critics argue that this could undermine universal healthcare which the government assures won't happen. Anwar Anis, Honorary Secretary at the Association of Private Hospitals Malaysia shares his insights.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Markets in China and Hong Kong rallied more than 4% following the People's Bank of China's announcement of plans to lower borrowing costs and allow banks to increase their lending. These measures are aimed at reviving the country's flagging economy. Tommy Xie, the head of Asia Macro Research at OCBC Bank, shares his thoughts on whether or not these measures will do the job.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Bid-rigging remains a critical issue in Malaysia, leading to substantial financial losses and diminished public service quality. In response, the Malaysia Competition Commission (MyCC) is set to amend the Competition Act 2010, implementing incentives for individuals who report these unethical practices to foster greater transparency. For a clearer perspective on this initiative, we speak to MyCC CEO Iskandar Ismail.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

The European Commission has announced its newly appointed team of 26 commissioners, marking a shift in dynamics after a divisive parliamentary election. A key issue facing the Commission is the upcoming EU Deforestation Regulation (EUDR), set to take effect at the end of the year, which has raised concerns among Malaysian stakeholders about potential fines and market exclusion for small farmers, leading to calls for a delay. We delve into these developments with Dr. Frederick Kleim, Managing Director of Episteme Consultants.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Forest City Special Financial Zone (SFZ) in Johor was launched last Friday and is set to offer a range of investment incentives, including a reduced corporate income tax rate of between 0% and 5%, as well as a 0% tax rate for family wealth offices, which is a first in Malaysia. Are these tax breaks sufficient to accelerate investments in Forest City after a slow start? Business commentator Pankaj C. Kumar weighs in.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The National Higher Education Fund Corporation (PTPTN) is set to take legal actions against 430,000 borrowers who still owe about RM6 billion in unpaid student loans. Some have been accused of being irresponsible but could they be suffering from the impact of stagnant wages and/or rising cost of living? Dr Amirul Rafiq Abu Rahim, a research associate at Khazanah Research Institute gives us some perspectives.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Despite China’s New Energy Vehicle deliveries hitting a record in the first half of this year, major Chinese EV makers delivered mixed results in August, even with continued government incentives. Ray Kwok, Director of Research Department, CGS International Securities Hong Kong Limited, helps us understand the EV landscape in China along with the challenges he is anticipating.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Sri Lankans have elected Anura Kumara Dissanayake as their new president, following a second tally of preferential votes, the first time in the country's history. Dr Chulanee Attanayake, a researcher at Swinburne University of Technology, explains why this is significant as also for the first time, the president is not from a political dynasty. Plus, he will also navigate the country out of the economic collapse it experienced in 2022.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Penang DAP elections were held over the weekend and saw Human Resource Minister Steven Sim named its chairman, replacing Chow Kon Yeow, who did not contest. Bukit Gelugor MP Ramkarpal Singh was elected deputy chairman. Dr Oh Ei Sun, Principal Adviser at the Pacific Research Centre, takes a look at the outcome of the vote and helps us make sense of the party's path forward.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Recently, Thailand’s cabinet approved a cash handout plan totaling almost THB146 billion , or USD4.4 billion. The baht is also seeing its biggest rally since 1998. Poon Panichpibool, Markets Strategist at Krung Thai Bank helps put these developments into perspective and what it might mean for Thailand's economy with a new prime minister now in place.Image Credit: Shutter StockSee omnystudio.com/listener for privacy information.

With under 2 months before Americans vote for the next president of the United States, campaigning has already been marred by two assassination attempts on the Republican candidate, Donald Trump. John Zogby, the founder of political survey companies John Zogby Strategies, shares his views on how heated campaigning has become as a result of rhetoric and how both the Harris and Trump teams might adjust their strategies in the final lap.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

The US Federal Reserve has kicked off a historic easing cycle with a 50 basis point cut in its benchmark interest rate. What does this mean for the outlook of the US economy  and how will this factor into the subsequent trajectory of Fed monetary policy as we head into the final quarter of the year? Olu Sonola, Head of US Economic Research at Fitch Ratings gives us his analysis.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The recent operational challenges faced by Malaysia Airlines in recent weeks have highlighted the talent retention issue in the country. This is amid reports that more than 60 of the local carrier's engineers had left for better-paying jobs in Singapore. Nic Chambers, Managing Director of recruitment agency Michael Page Malaysia helps put into context the problems Malaysia faces in retaining talent in an increasingly competitive market.Image Credit: shutterstock.comSee omnystudio.com/listener for privacy information.

Perikatan Nasional has rejected the MOU offered by the Madani government to resolve the issue of equal constituency development funds for the opposition. PN claims the MOU could threaten the rights of Malays and Bumiputeras, clash with cultural values, and limit MPs' freedom of speech. Independent political analyst, Adib Zalkapli, shares his insights into this development along with his take on the upcoming Mahkota by-election.Image Credit: Shutterstock.comSee omnystudio.com/listener for privacy information.