- Budget 2026 to be tabled on October 10
- New managed industrial park in Delapan
- Factories coming back to the US?
IN MALAYSIA
Bourgoisie daydream
- Not In My Own Backyard (NIMBY)
Over 200 residents of Bukit Damansara, which consists of several VVIPs such as Tony Fernandes, Khairy Jamaluddin and Nazir Razak, rallied to oppose the redevelopment of the abandoned Wisma Damansara into two 60-storey towers. The protestors claimed that the new development has a proposed plot ratio of 1:9.6, far exceeding the 1:6 limit in the Kuala Lumpur Local Plan (KLLP) 2040, and the adjacent Jalan Semantan could not cope with the traffic coming from the new development. But if we take a step back, building a high-density project in that area makes a lot of sense as there are two MRT stations within a 500-meter radius, and the project will be the epitome of transit-oriented development. Plus, the Bukit Damansara area and the nearby Federal Hill have been criminally under-utilised, given both of them are smack in the middle of KL. Nonetheless, it is cute to see these bourgeoisie standing under the heat to protest against the authority. Even Karl Marx will be proud.
- To swim in the Klang River
Sahabat Sungai Malaysia president Prof Dr Zaini Ujang proposed that the Klang River has the potential to be swimmable, akin to rivers in several major European cities. Dr Zaini added that river bathing could also serve as an indicator to assess the cleanliness of the river. I am just going to stop here. We have too many other priorities that are more important. Plus, the pain from spending about RM4bil for the River of Life project still lingers, which just ends up making the Klang River less teh-tariky.
Business news
- Budget 2026 to be tabled on October 10
PM Anwar Ibrahim is slated to table Budget 2026 to the Parliament on October 10. This will be the fourth budget presented by the Madani government under Anwar’s leadership and the first under the 13th Malaysia Plan (13MP).
- Bank Negara launched the National Financial Literacy Strategy
Bank Negara Malaysia (BNM) just launched the National Strategy for Financial Literacy 2026-2030 (NS2.0), which includes the establishment of a National Coordination Office, consisting of BNM, the Securities Commission Malaysia, the Employees Provident Fund, and the Credit Counselling and Debt Management Agency, to mobilise a more coordinated approach in spreading the financial literacy gospel. NSN2.0 will be focusing on five key priorities, namely – retirement planning, debt management, financial future with risk protection, safe use of digital financial services and investments for wealth creation.
- NexG Bhd bagged the RM732.72 mil contract from the Home Ministry
NexG Bhd, formerly known as Datasonic Group Bhd, has secured a six-year contract worth RM732.72 mil to supply Malaysia’s national identity cards, including MyKad and MyTentera. NexG has been the supplier of MyKad since 1999 and has also won a separate RM1.73 bil, six-year contract from the Home Ministry to supply Malaysian passports. Previously, NexG or Datasonic was named in the alleged corruption case involving current Deputy PM Ahmad Zahid Hamidi.
- Empire Sushi to go public
Empire Premium Food Bhd, which operates the multi-format sushi chain Empire Sushi, is planning to go public in order to raise funds for expansion. The initial public offering (IPO) will float up to 33% stake in the company. The company generated RM235.6 mil in FY2025, where over 80% of the revenue comes from its grab-and-go sushi operations, while the remainder is derived from its quick dine-in sushi outlets. The company plans to use funds from the IPO to open 56 new outlets in both grab-and-go and quick dine-in formats between FY2027 and FY2029, hire additional service crew, and upgrade or refurbish existing outlets.
And oh my, how we did miss this news. Last week, NCT Group of Companies launched NCT InnoSphere, the first certified managed industrial park (MIP) within the Delapan Special Border Economic Zone (SBEZ) in Bukit Kayu Hitam, Kedah. The project is NCT Group’s second MIP in Malaysia, and it is all thanks to no other than Northern Gateway Group of Companies (NGX). The 137-acre NCT InnoSphere occupies free zone land adjacent to the Malaysia–Thailand border, with a gross development value (GDV) of RM1.1 bil. NGX Group CEO Razwin Sulairee Hasnan Termizi said that the MIP is at the ‘Zero Mile Zone’, which offers ‘First Load Advantage’ for investors in the first mile of Malaysia’s supply chain. To dumb it down for newbies, by being in the ‘Zero Mile Zone’, investors can minimise disruptions down the supply chain, further optimising cost and make all shareholders happy at the end of the financial year.
Source: https://theedgemalaysia.com/node/771984
Around the SEA
Sharpie found a way to make stuff cheaper in the US compared to abroad? Gamechanger?
US-based Newell Brands managed to manufacture its marker pens, Sharpie, cheaper in its Tennessee plant, compared to when it used to produce them abroad, without reducing its headcount. However, the feat can only be done after Newell invested USD2 bil thousands of hours of training and a total overhaul of the production process. The existing workforce was also trained to handle robots, so the workers are trained to fix a robot instead of packing a box.
Source: https://www.wsj.com/business/sharpie-us-production-cost-cutting-d9ba2abd
But analysts doubt that Sharpie’s playbook can be adopted across industries. While the final assembly can be easily relocated to the US, however, the supply chain of manufacturing inputs is globalised for most industries, and our favourite Orange Man is slapping tariffs on everything under the sun. So, for profit-driven companies, it is still a coin toss when making decisions whether they want to return to tanah tumpanhnya darahku Amerika as it does not make economic sense. Most companies still hesitate, and it is reflected in the growth of manufacturing jobs in the US.
For Your EYES Only
Banyak betul Putin-lovers in Malaysia. FYI, in 2024, the US was Malaysia’s third-largest trading partner with RM324.91 bil value of trade, while the trade value with Russia was a measly RM11.46 bil.
Malaysians are really funny
byu/Immediate-Macaron-56 inmalaysia
