Morning Brief

Sarawak Premier Tan Sri Abang Johari Tun Openg unveiled the state’s largest-ever budget for 2024, totaling 12.4 billion ringgit. Professor Dr. Evan Lau, Head of Strategy, Faculty of Economics and Business, University Malaysia Sarawak tells us what are the drivers of the state's economy and the development gaps.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

India is due to release its second quarter GDP results next week, which some economists have estimated could come in as high as 7% growth. What’s buoying the world’s fifth largest economy, at a time when the outlook for major economies like the US, China, Japan and the Eurozone is less optimistic? We discuss the trends with Sanjay Mathur, Chief Economist for India and Southeast Asia with ANZ Bank.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Fed minutes reveal that it's still maintaining their hawkish policy for the moment due to sticky inflation and its resolve to bring inflation down to long-term target rate of 2%. What does this mean for the other investment asset classes especially since treasury yields have increased in tandem. Francis Tan, Investment Strategist with UOB tells us the answer whilst weighing in on the ideal investment strategy for 2024.Wealth Advice That Matters is brought to you by UOB Privilege Banking. Visit www.uob.com.my/bfm to find out more about upcoming topics.See omnystudio.com/listener for privacy information.

The deadline for candidates to register in Taiwan’s presidential election is just days away, and the opposition is in disarray. Having failed to come to a consensus on a joint presidential candidate, there are doubts on the ability of the two main opposition parties - the KMT and the TPP - to unseat the ruling Democratic Progressive Party. Brian Hioe, Co-Founding Editor of New Bloom Magazine shares his insights and what this means for the elections come January next year.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Singapore has seen a tremendous rise in family offices, from 400 in 2020 to more than 1,100 today. The government is embracing this segment by providing incentives for Ultra High Net Worth Individuals to set up family offices there, challenging Hong Kong’s traditional role as Asia’s financial centre. Loh Kia Meng of Dentons Rodyk & Davidson discusses the island state's strategy in attracting investors and whether this can be replicated in Malaysia.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

J-KOM’s main focus is to assist the federal government in disseminating information to the people but it has been also accused of being a propaganda machine. Dr Benjamin Loh, Senior Lecturer, School of Media and Communication, Taylor's University tells us if it's time to revamp it with new objectives in light of the many competing government agencies.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

MIC and DAP recently concluded their conventions with very different messaging. We check in with Dr. James Chin, Professor of Asian Studies, University of Tasmania on his take on the future of these political parties and their place in this Unity Government.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

OpenAI's 4-member board's sacking of its CEO Sam Altman and co-founder Greg Brockman, led to Microsoft hiring them both a couple of days later to lead an AI research team. The fallout to what OpenAI did continues as over 700 of its staff threatened to resign if the pair are not reinstated. Dan Ives, Managing Director, Wedbush Securities, talks about the repercussions from these developments.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

Libertarian economist Javier Milei emerged the overwhelming victor in Sunday’s Argentine presidential elections, defeating his Peronist rival and Economy Minister Sergio Massa by 11% of the vote. Milei campaigned for economic shock therapy to reform Argentina’s beleaguered economy - what does this bode for the country’s policy direction? We discuss the election outcome with political scientist Dr. Tracy Fenwick of the Australian National University.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

Putrajaya has renegotiated with selected concessionaires aiming to avoid toll hikes for 19 highways, as part of the government's election pledge. This means the concession period may be extended for at least 30 years longer. Shahrim Tamrin, Senior Journalist with the Vibes, and a former board of directors member at the Malaysian Institute of Road Safety Research (MIROS), joins us to analyse this issue.Image credit: BernamaSee omnystudio.com/listener for privacy information.

Malaysia’s Q3 GDP expanded by 3.3% year on-year, better than the 2.9% gain in Q2. Lavanya Venkateswaran, Senior ASEAN Economist at OCBC breaks down the factors affecting this performance and what we can expect going forward.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Amid reports that a deal was imminent for the release of Israeli hostages held by Hamas, US President Joe Biden put forth a US vision for post-war Gaza governed by a revitalised Palestinian Authority. How realistic are these plans? We discuss current developments in the Israel-Hamas war with Middle East expert Dr. James Dorsey.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Recent clashes in Myanmar between ethnic resistance groups and the military junta in border areas of the country have raised questions about the strength of the current regime. Are we seeing a turning point in the Myanmar crisis? Jason Tower of the United States Institute of Peace weighs in on developments.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Investment, Trade & Industry Ministry has implemented a 2-year moratorium to study challenges faced by the local iron and steel industry and update the industry’s direction in line with the New Industrial Master Plan 2030. The temporary suspension will affect all aspects of the iron and steel industry’s manufacturing licence processes, like new applications, licence transfers, expansions and more. Jarrod Lim, CEO of the Malaysia Steel Institute, an agency under MITI breaks down the issue for us.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Madani government targets to table the Malaysian Media Council Bill by March 2024 and engagements involving industry players, civil society organisations and other stakeholders are ongoing. Wathshlah Naidu, Executive Director, Centre for Independent Journalism, one of those involved in this effort talks to us about the latest developments.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Electoral watchdog Bersih has been calling for constituency development funds to be given equally to all MPs irrespective of their support for or against the government of the day. The urgency of this issue has returned to the forefront after 4 opposition MPs declared their support for the Madani government citing the need for funding allocations for their respective constituencies. Bersih's executive director Ooi Kok Hin talks to us about the challenges in institutionalising a CDF law.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The APEC summit, which has a membership of 21 countries, is ongoing in San Francisco. As a bloc, its members produce around 11.4 trillion US Dollars in exports. Calvin Cheng, Senior Analyst in the Economics, Trade and Regional Integration division at ISIS tells us what the benefits of joining this bloc especially from the Malaysian perspective.Image credit: BernamaSee omnystudio.com/listener for privacy information.

The Indonesian embassy has reported that approximately 90% of complaints received are related to domestic helpers. To raise the standard of protection, the maximum recruitment cost for a new Indonesian domestic worker is RM15,000, and applications can only be done via Sistem Maid Online (SMO) and Sipermit owned by the Indonesian Embassy. We check in with His Excellency Datuk Hermono, Ambassador of the Republic of Indonesia to Malaysia if that would help to ensure a fair and just working environment.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Economy Ministry is in discussions with banks and financial institutions to develop an energy transition financing mechanism for companies to participate in green projects. We ask Cedric Rimaud, Independent Sustainable Finance Consultant the difference between that and green financing and what have been the recent challenges in this space.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

With the increased scrutiny on the constitutional validity of the Control of Smoking Products for Public Health Bill 2023, New Sin Yew, Constitutional and Human Rights Lawyer tells us to what extent are legal arguments based on the Constitution, considered absolute, and is it valid to consider this bill as unconstitutional.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

We dissect the second meeting between US President Joe Biden and Chinese leader Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum after a rocky year of tensions between the two superpowers. We speak to Dr Pradeep Taneja, senior lecturer in Asian studies from the University of Melbourne on the outcome of this high-level meeting.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

Sirul Azhar Umar has been freed from detention in Australia. Convicted for the murder of Mongolian model Altantuya Shaariibuu, can he be extradited since the mandatory death penalty has been abolished? However, the death sentence can still be meted out, subject to the court's discretion. We ask Edmund Bon, lawyer from Amer Bon Advocates for his insights on the matter.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Malaysia will reach the status of a “super-aged nation” by 2056 as more than 20% of the population will be above the age of 65. Yet, EPF has highlighted that 45% of Malaysians do not have 100 thousand ringgit in savings upon retirement. Munirah Khairuddin, Country Head and CEO of Principal Malaysia tells us what are some the possible solutions to this structural issue.See omnystudio.com/listener for privacy information.

With reports circulating that Sabah’s Chief Minister Datuk Seri Hajiji Noor is considering an early state election, we ask Dr Oh Ei Sun, Principal Adviser at Pacific Research Center of Malaysia and Senior Fellow at Singapore Institute of International Affairs on what is the cause of the ground swell that is urging him to call for an early election.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

San Francisco will host the annual Asia-Pacific Economic Cooperation (APEC) conference, starting today till November 17th. This economic summit will also bring both US President Joe Biden and Chinese President Xi Jinping for their 2nd face-to-face meeting. We discuss the expectations of APEC 2023 with Chong Ja Ian, Associate Professor at the National University of Singapore.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

Langkawi has been receiving negative publicity of late ranging from tourists being stopped for allegedly dressing inappropriately, reports on a ban on alcohol and overpriced food. The island is also not easy to get to, especially for foreign tourists, with few international inbound flights and limited passenger ferry services. Shaharuddin Saaid, Executive Director of the Malaysian Association of Hotel Owners, gives us the lowdown on what the real issues are plaguing the island of legends.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

With the Meteorological Department warning of heavy rains till March 2024, how prepared is Malaysia this time to avoid the disaster of the 2021 floods. Amran Mahzan, Executive Director of MATCH Foundation gives us that answer and how we can also contribute.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The China's Singles' Day extravaganza concluded over the weekend after weeks of promotions across the country. Seen as the world’s most significant shopping event, 11/11 saw e-commerce leaders like Alibaba Group and JD.com reporting improvements in gross merchandise value and order amounts, but they declined to reveal actual numbers. Catherine Lim, a senior analyst at Bloomberg Intelligence shares her observations.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

In the last few weeks, four Bersatu MPs have switched loyalties and pledged their support to Prime Minister, Dato' Seri Anwar Ibrahim and the unity government. We ask Dr Azmi Hassan, Senior Fellow from Nusantara Academy of Strategic Research as to whether this is the start of more defections, what does this mean for Bersatu and even PN.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

With Malaysia aiming to achieve a national recycling rate of 40% by 2025, the government already has several initiatives in place and is in the process of drafting a blueprint for solid waste management, with sights set towards a circular economy. We speak to Khor Sue Yee, co-founder and director of non-profit organisation, Zero Waste Malaysia as she shares her thoughts on the country’s sustainability journey.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The world’s second largest economy has been showing mixed signs of recovery since its easing of pandemic restrictions in January. But it did not dampen the wanderlust in the Chinese as travel data during Golden Week has been better than 2019 figures while players like MGM Resorts has displayed strong recovery in China. Angela Han Lee shares with us what will drive continuous demand and which listed players in the industry could sustain a strong performance.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Putrajaya has again floated merging the Malaysian Aviation Commission, which oversees economic and consumer issues, with the Civil Aviation Authority of Malaysia, which is responsible for technical issues such as safety, maintenance and security. Khair Mirza, CEO of Integral Capital Pte Ltd breaks down how this move might improve the civil aviation sector, in light of the collapse of MY Airlines and Rayani Air.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Early this year, the government announced that the constitution would be amended to provide equal rights to Malaysian mothers to confer citizenship to children born abroad on par with Malaysian fathers. While the proposal has garnered support from the Malaysian public, controversy arises from the government’s plans to couple this with other amendments that some argue risk perpetuating statelessness, especially for children. What would happen should these amendments come to pass? Zaid Malek of Lawyers for Liberty weighs in on the issue.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

McKinsey’s Global Insurance Report 2023 has revealed that Asia's insurance industry is at an inflection point, with the life and Property & Casualty sectors facing slowing growth and profitability concerns, among others. Bernhard Kotanko, senior partner at McKinsey & Co talks about the nuances of the report and what it means to the industry.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Deputy Finance Minister Dato' Sri Ahmad Maslan informed Parliament this week that the government was close to paying off the debts owed by 1MDB, with the remaining obligations of RM5 billion due to be paid in 2039. We go through the accounting with business writer P. Gunasegaram and also discuss the unanswered questions emanating from the long-running scandal.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The government has said it is not pursuing a transboundary haze bill, although it left the door open for the proposal in the future. We get reactions from Khor Yu Leng of Segi Enam Advisors and discuss available options for recourse to address the perennial haze.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Indonesian economy took a hit in the third quarter of 2023, with GDP growth slowing to 4.9%, the first time in seven quarters that the pace fell below 5%. We discuss the headwinds impacting ASEAN’s largest economy and whether there are bright spots on the horizon with Radhika Rao, Senior Economist at DBS Bank.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The government has been urged to establish a Charities Commission in response to growing calls for increased transparency and accountability in managing charity funds. What would be the mandate and composition of the commission? We discuss the proposal with Datin Wong Poai Hong, Executive Director, Childline Foundation.Image credit: BernamaSee omnystudio.com/listener for privacy information.

One of the big achievements of last year’s COP27 was the agreement to set up a loss and damage fund that would channel money to the most vulnerable countries affected by the consequences of climate change. But ironing out the mechanism of the fund has bedevilled negotiators over the past year - will a blueprint that was passed in Abu Dhabi this last weekend pass muster when it is presented during COP28 for approval? We discuss this with Meena Raman of Sahabat Alam Malaysia.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Prime Minister Anthony Albanese has just completed a 4-day state visit to China, the first Australian leader to visit the Middle Kingdom in seven years, ending a hiatus triggered by several disputes. Bilateral relations between Canberra and Beijing have been tepid in recent years but this visit appears to have warmed ties somewhat. Richard Mcgregor of the Lowy Institute provides us with some analysis on the outcome of this latest development.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

Some 1,000 lorry drivers in Penang, Kedah and east coast states have been protesting against a crackdown on the overloading of lorries and commercial vehicles since last month, stating that this is unduly harsh on the industry. We discuss the rationale for road transport load limits and ways to improve enforcement efforts while mitigating impact on business activity with transport engineering expert Prof. Dr. Ahmad Farhan Mohd Sadullah.Image credit: BernamaSee omnystudio.com/listener for privacy information.

The Home Ministry hopes to table the Drug & Substance Abuse (Prevention, Treatment and Rehabilitation) Act in Parliament next year. The aim is to enable first-time or minor drug offenders to be rehabilitated, instead of being sent straight to prison as per the current practice. Ashwin Thind, Clinical Psychologist at PENGASIH and member of the Malaysian Drug Policy Reform Programme shares with us his thoughts on this matter.Image credit: BernamaSee omnystudio.com/listener for privacy information.

The latest quarterly results of the major tech firms were mixed overall, with Microsoft and Amazon exceeding expectations while Alphabet and Tesla disappointed. We discuss the trajectory of tech stocks moving forward with Dan Ives of Wedbush Securities.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Ministry of Natural Resources, Environment, and Climate Change is proposing a mechanism to set water tariffs that allows water operators to determine rates without the need of the Minister’s approval. Dr. Mohmad Asari Daud, President, Malaysian Water Association tells us why this is a step in the right direction and the state of our water assets.Image credit: BernamaSee omnystudio.com/listener for privacy information.

With the US unveiling a new executive order on AI alongside an AI safety summit hosted by the U.K, we ask policy advisor and fintech expert Dr Jonathan Chang on how governments should try to chart a way forward alongside this emerging technology.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

As widely expected, Bank Negara maintained the overnight policy rate at 3% in its final meeting of the year. There has been no change to the rate since the last hike in May and with inflation at benign levels, it wasn’t a surprise. But there is competing interest with the ringgit, one the worst performing currencies in the region whilst growth is slowing. What then does this mean for our monetary policy? Woon Khai Jhek, Head of Economic Research and Senior Economist at RAM Ratings tells us.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Do international boycotts work? We discuss the proposal by Machang MP Wan Ahmad Fayhsal for Malaysia to boycott the APEC Summit in San Francisco later this month in solidarity with the Palestinian cause with political scientist Dr. Johan Saravanamuttu.Image credit: BernamaSee omnystudio.com/listener for privacy information.

The government launched the National Nuclear Technology Policy 2030 last month to spur national development including in healthcare, food and agriculture sectors. We speak to Professor Ir. Dr. Nahrul Khair Alang Md Rashid, of Universiti Teknologi Malaysia for his views on the potential of nuclear tech for the country.Image credit: BernamaSee omnystudio.com/listener for privacy information.

On Tuesday, the Japanese yen declined sharply after The Bank of Japan re-defined the 1% cap on the 10-year yield as a loose "upper bound" rather than a rigid cap. They also kept its short and long term policy rates at ultra low levels even as core inflation in the country exceeded the stated 2% target for 18 consecutive months. William Pesek tells us what is holding them back from rate normalisation and the tolerance level before currency intervention.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The government announced in Budget 2024 that it would lift price controls on chicken and eggs. However will this lead to a sudden surge in the cost of living and what control mechanisms need to be in place to prevent adverse price hikes. Datuk Wira Dr Ameer Ali Mydin, Managing Director, Mydin tells us his views and how they will be pricing chickens at his retail chain with chicken prices allowed to float from 1 November onwards.See omnystudio.com/listener for privacy information.