Morning Brief

The government has allocated RM350 million ringgit in Budget 2024 to get ready for the Visit Malaysia 2026 campaign, alongside other initiatives to boost tourist arrivals. We discuss how impactful these announcements are for the tourism and hospitality sector with travel analyst Hannah Pearson of Pear Anderson.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Budget 2024 included an interim payment of between RM1,000 and RM2,000 for civil servants Grade 56 and below, including those on contract. Retirees were not excluded while all public sector employees including uniformed personnel would receive an incentive payment of RM1,000. Economist, Dr Nungsari Radhi shares his thoughts on how this might improve the delivery of Malaysia's public services.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Education Ministry received the biggest slice of the 2024 Budget pie with an allocation of 58.7 billion ringgit. However, does it tackle the critical issues facing schools? Datin Noor Azimah Abdul Rahim, Chairman of Parent Action Group for Education Malaysia (PAGE) tells us.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

World leaders have convened in Beijing to mark the 10th anniversary of the belt and road initiative. And some noteworthy attendees include Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orban, the sole head of state or government from the European Union. Angeline Tan, Researcher in the Foreign Policy and Security Studies Programme, ISIS Malaysia shares with us BRI’s journey so far, what does the future hold and whether Malaysia will see increased participation.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

As world leaders criss-cross the Middle East to contain the geopolitical fallout from Israel’s military escalation on Gaza, the humanitarian situation is becoming untenable. We speak to Tom Porteous of the Human Rights Watch for the latest on the ground situation.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

In Budget 2024, the Health Ministry’s allocation rose by 13.5% to RM41.2 billion, the largest increase of allocation among ministries. How is funding being prioritised? Public health medicine specialist Dr. Farhan Rusli weighs in on how Budget 2024 is shaping healthcare policy.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Madani government tabled Budget 2024 on Friday, with the theme Economic Reform, Empowering People. The plan however does have its detractors who among others, called out its lack of focus as well as possibly increasing the cost of living with the hike hit SST. Dr Afif Bahardin, Secretary of Perikatan Nasional Selangor and the assemblyman for Taman Medan gives us his take.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Gaza Strip is on the brink of a humanitarian catastrophe as over 2 million Palestinians are trapped by an Israeli blockade with an imminent ground invasion by the IDF military. Can the international community bring any pressure to bear on belligerent parties, in particular Tel Aviv? The Ambassador of Palestine to Malaysia, H.E. Walid Abu Ali weighs in on the crisis.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

Budget 2024 had incentives to help Malaysia's MSMEs. These include RM44 billion in loans and financing guarantees, as well as RM2.2 billion in total funding to support them automate their business processes, digitalise their operations and increase their international footprint. Datuk William Ng, National President, Small and Medium Enterprises Association of Malaysia (SAMENTA), tells us how these incentives might work going forward.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

In Budget 2024, revenue projections are at RM307bn. What new taxes were introduced for that purpose and were there any goodies for the rakyat considering the fiscal consolidation pressures? Sim Kwang Gek, Country Tax Leader, Deloitte Malaysia shares with us her perspective.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The RM393.8 billion ringgit Budget 2024 hopes to see Malaysia's fiscal deficit narrow from 5% this year to 4.3% of GDP for 2024. Julia Goh, Senior Economist at UOB Malaysia breaks the details down further for us as she assesses how the phasing out of diesel subsidies, the end of chicken and egg price controls and the continuation of targeted electricity subsidies based on consumption might affect Malaysia's economic fortunes.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

All eyes are on the Budget 2024 tabling this Friday, with a lot of scrutiny on how the government plans to narrow the fiscal deficit in line with recently passed Public Finance and Fiscal Responsibility Act. How will this new law and Budget 2024 shape Malaysia’s economic policies moving forward? Economist Dr. Afzanizam Abdul Rashid gives us a preview of expectations for the budget.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The second reading of the Control of Smoking Products for Public Health Bill 2023, also known as the generation end game initiative was postponed to a date to be announced later. As a refresher, the bill was tabled for its first reading in June this year before being sent to the Parliamentary Special Select Committee (PSSC) for further review. And then on Wednesday, the health ministry announced the launching of a survey to get public feedback on the anti-smoking Bill. Boo Su-Lyn, Editor-in-Chief, CodeBlue shares with us the latest developments in this ambitious legislation.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

On October 14th, Australia will hold a referendum on whether the constitution should be amended to give recognition to Indigenous Australians and create a body, known as the Voice, that would provide a channel of communication to the government. We’ll discuss what the debate on this proposal reveals about Australian society and politics with Paul Strangio, Emeritus Professor at Monash University.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Malaysia has long grappled with the challenge of broadening its tax base without alienating the people. How will the government navigate this balancing act? We speak to Soh Lian Seng, Head of Tax at KPMG for his expectations of Budget 2024 and the different levers available for broadening the tax base.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Has the business of MyAirline crash landed in less than a year? Early this morning, the low cost carrier announced it is temporarily suspending all operations until further notice, due to financial difficulties. We get reactions from independent aviation analyst Brendan Sobie on the challenges of keeping a budget airline afloat and the role of the regulator in this scenario.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The National Service Training Programme is making a comeback, with a mid-2024 target. This time around the government will use existing military camps, spend a fifth less than it did the first time around and shorter training period of 45 days. Architects of Diversity has prepared a white paper on its review and recommendations for PLKN 3.0. AOD co-founder, Jason Wee, shares his views.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Thailand Prime Minister Srettha Thavisin embarked on his maiden visit to Malaysia this week after assuming office last month. How might Malaysia-Thailand bilateral relations take shape under his government? Thomas Daniel of ISIS Malaysia discusses the synergies between our two countries. Image credit: BernamaSee omnystudio.com/listener for privacy information.

On Monday, the government tabled the Energy Efficiency and Conservation Bill, also known as the EECA, for the first reading in Parliament. The proposed law is part of broader efforts to reduce Malaysia’s carbon emissions by mandating high-intensive energy users to manage energy consumption. How might this law work in practice? We discuss the implications of the bill with sustainability and climate change expert Dr. Renard Siew.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

On Monday, oil prices recorded their highest jump in six months in reaction to the escalation of conflict in the Middle East. We discuss with Ho Pei Hwa, Regional Energy Analyst, DBS Bank whether the price rally is temporary and other factors that will influence oil markets for the remainder of the year.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Tourism players are keeping their fingers crossed for incentives to be included when Budget 2024 is unveiled on October 13th, to give a much needed boost to the snail-paced recovery of the sector post-Covid-19. Dato' Sri Naresh Mohan, Group President & CEO of Trinidad Group Malaysia and an exco member with the Kuala Lumpur Tourism Association, shares with us what the industry is hoping for that might help it achieve the levels of tourist arrivals seen before the pandemic.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Malaysia's semiconductor industry, a major contributor to the country's exports with a global market share of 7%, has been plagued by issues ranging from supply chain disruptions and labour shortages. Dato' Seri Wong Siew Hai, President of the Malaysia Semiconductor Industry Association shares what the problems its members are facing and what they hope they will see when Budget 2024 is tabled this October 13th.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Consumer data coming out of China's eight-day Golden Week holiday indicate that spending per capita has surpassed pre-pandemic levels. What does this mean for Chinese economic recovery? Does this mean recovery is full steam ahead for China? Marvin Chen, China and North Asia Equity Strategist at Bloomberg Intelligence discusses key trends and headwinds for China and emerging markets. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

On Saturday, the Palestinian group Hamas launched a surprise attack on Israel, leading Israeli Prime Minister Benjamin Netanyahu to declare war on Hamas and launch retaliatory air strikes. We speak to Middle East expert Dr. James Dorsey for his read on the latest escalation of violence and its geopolitical implications.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The F&B sector has been a tale of mixed fortunes in the post-pandemic era, weighed down by supply chain disruptions, currency volatility, labour shortages and rising cost of living concerns. What are F&B players looking for in Budget 2024 to cushion the economic uncertainties? We hear from Patrick Sim, council member of the MRCA F&B Division and Managing Director of Secret Recipe for the industry wishlist.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Barisan Nasional retained the Pelangai state seat with a reduced majority of 2,949 votes compared to GE15. Despite the win, support for Perikatan Nasional has increased. Does this prove that Felda schemes are no longer a BN fortress? Helping us unpack the turnout, we speak to Adib Zalkapli, Director, BowerGroupAsia.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Credit markets took the jobs data report which showed that US employment surged more than expected in September very badly. Treasuries were sold off with the 10 year note spiking by as much as 16 basis points to 4.885%. Winson Phoon, Head of Fixed Income Research, Maybank Investment Bank tells us what a 5% bond market means for governments and corporates even here in Asia.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

With Budget 2024 slated to be tabled next Friday, we speak to different industry leaders to find out what is on their wish list. Datuk Shamsuddin Bardan, the Executive Director of the Malaysian Employers Federation shares with us what the private sector employers hope to see from Budget 2024, how they intend to reduce the gender gap in the labour force and the transition to a more sustainable business environment.Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The World Bank has trimmed Malaysia's GDP from 4.3% to 3.9%. We speak to their Malaysian lead economist Dr Apurva Sanghi to find out the reasons for this and also how can we attract more foreign direct investment compared to our regional neighbours. We also attempt to answer why our Ringgit continues to weaken despite a generally positive outlook.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Citigroup this week upgraded its growth forecast for China to 5% amid signs the economy is bottoming out. Do investors see the light at the end of a long tunnel? We discuss the outlook for Chinese equities as data from Golden Week comes out, as well as the latest twist in the Evergrande property saga with Brock Silvers, CIO of Kaiyuan Capital.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

There were some 72,000 scam cases reported from 2020 until May last year, resulting in losses exceeding RM5.2 billion; those were just what was reported. It is also sobering to note that very likely the personal data of Malaysians are also available on the dark web. CF Fong, CEO, LGMS Berhad who is also a cyber security consultant and a part of the government's Digital Advisory Committee offers some insights into the issues and reminders on what to do when getting a scam call.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Penang Chinese Chamber of Commerce had questioned how the directly negotiated sale of state-owned land in Byram, South Seberang Perai to a private company was done, alleging that the RM646 million price tag is significantly below market. However, Chief Minister Chow Kon Yeow, defended the transaction on the basis that the involved land is still undeveloped. Sri Murniati Yusuf, Chief Operating Officer, Institute for Democracy and Economic Affairs (IDEAS), analyses how this might raise concerns over transparency as it involve public assets.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Beijing has made remarkable strides in the electric vehicle market, both in terms of adoption and manufacturing driven by government policy and generous tax breaks. We speak to Joanna Chen, analyst at Bloomberg Intelligence as to who are the winners for this industry and if they have plans for global domination.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Kevin McCarthy was ousted as Speaker of the US House of Representatives in a dramatic roll-call, after eight Republicans voted against their party leader and sided with 208 Democrats to seal his removal. What repercussions does this have on significant bills ahead like the Spending Bill. John Zogby, Founder of John Zogby Strategies tells us whilst we discuss possible successors.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Ministry of Domestic Trade and Cost of Living is mulling a proposal that only those who have special IDs can buy the subsidised cooking oil packets. At the same time, the government is embarking on establishing a household socioeconomic database, known as the Central Database Hub or PADU to improve the monitoring and efficiency of government aid distribution. Where does the proposal for special IDs fit in with the PADU system and is this the best way to ensure assistance reaches vulnerable households? We discuss reforms to targeted subsidy programmes with Dr. Nur Ain Shahrier of Sunway University.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Although EV sales in Malaysia are expected to quadruple this year, according to BMI-Fitch Solutions, this only accounts for 1.8% penetration in the auto sector. How can the government incentivise the adoption of EVs to achieve the lofty target of 80% penetration by 2050? We discuss policy recommendations with Datuk Shahrol Halmi, President, Malaysian Electric Vehicle Owners' Club (MyEVOC).Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Singapore’s transnational money laundering case has dominated headlines and parliamentary sitting agendas as it has put a spotlight on the city’s state stringent anti-crime image. Cliff Lim, Director of Risk & Compliance, Dow Jones shares with us the complexity of identifying illicit transactions, and how legal frameworks should be improved.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Transboundary haze is back as several areas in the country report higher Air Pollution Index readings in the past week. How effective have ASEAN mechanisms been to address the root causes of transboundary haze and do we have the policy tools to ultimately eliminate this issue? We discuss this with Dr. Helena Varkkey of University Malaya.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Speculation has been rife of a possible reshuffle in the Anwar Ibrahim-led Unity Government cabinet, with the Domestic Trade and Cost of Living portfolio still vacant since the passing of Datuk Seri Salahuddin Ayub on July 23rd. Dr. Oh Ei Sun, Principal Adviser at the Pacific Research Centre offers his views on what might happen, if it happens.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

New Zealand will hold general elections on the 14 October, and the race to form government is between the incumbent Labour party, led by Chris Hipkins and the conservative National party headed by Christopher Luxon. With National currently leading in opinion polls, what will influence voters at the ballot box? Independent political analyst Grant Duncan gives us a preview of what to expect.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Today is World Habitat Day, which is observed annually by the United Nations on the first Monday of October, to reflect on the state of towns and cities amid the global trend of urbanisation. Malaysia is no stranger to this with some 26 million Malaysians living in urban areas, accounting for 78% of the population. Mustapha Kamal, Urban Planner and Founder, Arkitek Mustapha Kamal tells us how Kuala Lumpur ranks in terms of liveability.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Merchants that have enjoyed free usage of DuitNow QR payments will eventually have to endure a fee for this convenience as Payments Network Malaysia, majority-owned by Bank Negara, announced that it will impose a fee, that was initially waived to encourage usage. Vincent Fong, Chief Editor of Fintech News Malaysia explains what this might mean to the whole cashless payments ecosystem.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The years of Covid, conflict and climate have brought to the forefront the issue of keeping a growing population fed with challenges mounting as the months pass. Christy Tan, Investment Strategist with Franklin Templeton Institute breaks down the ramifications when Russia's invasion of Ukraine, the world's bread basket, stifled food supplies, while India imposed restrictions on its own rice exports.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Malaysia is growing old before its economy is getting rich, with 20% of the population projected to be over 65 by 2056. What are the policy frameworks that need to be in place to address the myriad issues that arise with a greater share of elderly in society? We discuss recommendations with Chai Sen Tyng of the Malaysian Research Institute on Ageing (MyAgeing), UPM.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Hang Seng Index is one of the worst performing global indices this year with a decline of 12%, contrary to expectations over China's reopening. We check in with consultant Peter Lewis to find out what's weighing down on market sentiment and whether it's too soon to bottom fish for Chinese and HK equities.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

While the US Federal Reserve’s objective remains focused on engineering a soft landing, the economy is now faced with new headwinds like the auto workers strike, a possible government shutdown, the impending resumption of student loan payments as well as rising oil prices. Selena Ling, chief economist of OCBC shares with us if the US economy can withstand these 4 shocks at once and what the implications are for the rest of the world.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Ministry of Tourism, Arts and Culture (MOTAC) has announced plans to further strengthen the standardisation of the tourism industry. In conjunction with World Tourism Day, we ask Nigel Wong, President of the Malaysian Association of Tour and Travel Agents (MATTA) what he hopes to see from the review and the monetary push needed to boost tourist arrival numbers to pre-pandemic levels. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

G7 currencies still remain volatile with King Dollar reigning supreme as it retains its safe haven assets. But will it be displaced as the US economy softens? Saktiandi Supaat, Head of FX Research, Global Markets, Maybank Singapore tells us his views whilst weighing in on other regional currencies in particular the Ringgit.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

This week the Minister for Communication and Digital Fahmi Fadzil announced that all major telcos have agreed to take an equal stake in Digital Nasional Berhad, the state-owned entity tasked with the national 5G rollout. Is this the end of delays to the long-stalled 5G implementation plan? We discuss the implications with Datuk Dr. Rais Hussin, Chief Executive of Emir Research.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

After MCA's election over the weekend, Datuk Seri Dr Wee Ka Siong defended his presidency with 2 new faces for the vice-presidents' post in the hope that they will bring much-needed change to the party. Dr James Chin, Professor of Asian Studies, University of Tasmania tells us what he thinks the future might be for the Chinese-based party with GE16 due in 5 years' time.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.