Morning Brief

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.

The lack of affordable housing has been a structural issue with mismatch of demand and supply. Not helped by the unaffordability of houses according to the World Bank. So it is time for novel ideas to resolve this including shifting from ownership to housing being just a right? Pankaj C Kumar, a business commentator tells us.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Bank of Japan's indication that it will maintain its ultra low interest rate stance had triggered a sell off in the yen, which is now at its all-time weakest against the US dollar. Yuichi Murao, Chief Investment Officer for equity strategies at Nomura Asset Management breaks down what this might mean for Japanese equities in the long run, with Warren Buffett also positive on stocks from the Land of the Rising Sun.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Prime Minister Datuk Seri Anwar Ibrahim’s visit to New York was a packed one, encompassing meetings with both the diplomatic and business community. Dr. Prashanth Parameswaran, a Fellow at the Wilson Center and Founder of the weekly ASEAN Wonk Newsletter tells us what impact that visit had especially the maiden UN address and future US-Malaysia ties.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

The government has indicated that it is in the midst of finalising the review of reducing or limiting Approved Permits, with a policy submission set to be sent to the National Economic Action Council by November this year. P Gunasegaram, independent business writer and analyst, tells us why APs which have benefited few and strayed from their original intention, are no longer needed in this day and age.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

On the sidelines of the 78th UN General Assembly, US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu signalled that the normalisation of ties between Israel and Saudi Arabia could materialise. We discuss what this would mean for the geopolitics of the Middle East with political expert Dr. James Dorsey.Image credit: EPA-EFESee omnystudio.com/listener for privacy information.

PJ MP Lee Chean Chung suggested that Kuala Lumpur be returned to Selangor to create a mega metropolis. This was supported by Kepong MP Lim Lip Eng on the basis that it will help solve issues plaguing the Klang Valley. But could the reunification of two large cities make it difficult for the federal government to exercise their administrative capacities or will the return local council elections be a better solution? We speak with Chean Chung himself to explain his stance and rationale.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Tourism, Arts and Culture Minister (MOTAC) Datuk Seri Tiong King Sing announced that Malaysia is on track to meet the 16.1 million 2023 tourist arrivals target. However, Malaysia is still a far way off from regaining back the numbers it enjoyed before the pandemic, when in 2019 it recorded 86.1 billion ringgit in tourism receipts from 26.1 million arrivals. We speak with Hannah Pearson Founder of Pear Anderson and ask if Malaysia can regain its position as a preferred destination.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

This week UK Prime Minister Rishi Sunak announced delays to some of the critical climate change targets that the government had set, including pushing the ban of petrol and diesel cars to 2035 - this has been pushed back to 2035. Although he cited economic security as the main reason, the announcement sparked backlash from the business community. Will this affect his chances of re-election come 2025? We discuss the fall out with Prof. Chandran Kukathas of the Singapore Management University.Image Credit: EPA-EFESee omnystudio.com/listener for privacy information.

The 78th UN General Assembly (UNGA 78) started on Tuesday but with the notable absence of 4 leaders of the permanent security council, is the General Assembly still seen as an effective forum for international peace and security. We speak with Dr Julia Roknifard, Assistant Professor at University of Nottingham Malaysia on the key takeaways and the UN’s role and relevance in this day and age.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Political Financing Bill is once again raised in parliament for consideration after much to and fro. A positive outcome of this bill is the strengthening of democracy and transparency in Malaysia but is there political will? We speak with Thomas Fann, Chairperson of Bersih for his insights on the parliamentary select committee, implementation, and impact of the bill for Malaysia.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Budget 2024 is set to be tabled in Parliament on Oct 13th with prime Minister and finance minister Datuk Seri Anwar Ibrahim hinting that there may be new taxes planned, to narrow the budget gap to 3.5% of GDP by 2025. Sim Kwang Gek, Country Tax Leader, Deloitte Malaysia shares her thoughts on what she expects in terms of how the government plans to boost its revenues going forward.Image credit: Shutterstock.com See omnystudio.com/listener for privacy information.

Crude oil prices have surged to a 10 month high as Brent crude comes perilously close to US 100 dollars per barrel. In fact prices have surged 30% since mid June after Opec + curbed supplies. Sean Lim Ooi Leong, Head of Regional Oil & Gas, RHB Investment Bank tells us that is the sole reason for the price surge and what are the buying opportunities in this space.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Prime Minister Datuk Seri Anwar Ibrahim is committed to a fiscal deficit target of 3.2 percent of gross domestic product in 2025. In order to achieve this, he will need fiscal and procurement discipline, and 2 new legislations should help, with the Government Procurement Act and Fiscal Responsibility Act mooted. To help us understand the new legislations, we speak with Sri Murniati Yusuf, Chief Operating Officer, Institute for Democracy and Economic Affairs (IDEAS).Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Recently, Malaysiakini released a five-part series on the issue of statelessness in the country. One of the stories featured was about a stateless boy in Sabah with HIV who passed away after skipping and delaying his HIV treatments due to expensive payments required by the hospital. We ask Dr Hartini Zainuddin, Co-Founder of Yayasan Chow Kit how many more are impacted and what the remedy is.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

For the 1st half of this year, Malaysia has attracted 132.6 billion ringgit in approved investments, with the top countries being Singapore, Japan, the Netherlands, and China. Ministry of Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Utama Zafrul Aziz is confident that approved investments will hit the annual target of 220 billion ringgit. Today we speak with Nordin Abdullah, Vice Chairman of the Malaysia Australian Business Council to get his opinion on this goal and where Malaysia's FDI is heading.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Prime Minister Datuk Seri Anwar Ibrahim made a whirlwind day trip to China on Sunday, marking his second official visit in just 6 months. Angeline Tan, Researcher in the Foreign Policy and Security Studies Programme, ISIS Malaysia discusses the main outcomes of the visit, as well as the policy priorities of President Xi Jinping.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The gig economy is becoming an increasingly attractive option for school leavers who want to earn an income without pursuing a tertiary education. But is this a sustainable livelihood and how might this trend impede efforts to become a high-income nation? We discuss the phenomena and policy recommendations that should be considered with  Prof. Dr. Chin Yee Whah of Universiti Sains Malaysia.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Putrajaya has agreed in principle to enact a Freedom of Information Act that will set out clear parameters and guidelines to grant members of the public access to obtain information from the government and other public agencies or companies. This means the Official Secrets Act will see some amendments too. Dr Benjamin Loh, Senior Lecturer, School of Media and Communication, Taylor's University, shares his thoughts on how this might progress.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

According to the Department of Statistics (DOSM), Malaysian women earn a median wage of RM2,545, about RM120 lower than the median wage for men. What accounts for the gender wage gap and are policies to address discrimination in the workplace effective to improve income equity? We discuss this issue on International Equal Pay Day with Anis Farid of the Women's Aid Organisation.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The fortunes of ASEAN economies are closely tied to that of China, and with the second-largest economy slowing down, how will this impact the outlook of the banking sector? And are SMES posing a risk to the asset quality of banks? We’re discussing this with Rena Kwok of Bloomberg Intelligence.Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The Grab-led GX Bank has become the first digital bank licensed by Bank Negara to be approved for operations come 1 September.  How will the introduction of digital banks change the financial landscape? We speak to Ravi Kitanee, Partner at Ernst & Young Consulting the opportunities and challenges for digital banks.Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

North Korean leader Kim Jong Un made a long train journey to Russia for a meeting with President Vladimir Putin. The two leaders’ one-on-one talks, as well as discussions with delegations, lasted for about two hours and were followed by an official dinner.Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

Malaysia Day is a day to commemorate the establishment of the Malaysian Federation formed in 1963 which saw Malaya, North Borneo, and Sarawak unite into a single country. This created a nation state with a diverse population; multicultural, multiracial and multireligious. And with data points from 2 research studies, we speak with Eddin Khoo, Founder of Pusaka and Senior Fellow at ISIS, to help us understand “what makes us a Malaysian” 60 years on.Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.