KUALA LUMPUR (Jan 12): Building costs rose in December 2025, driven by higher cement and sand prices, data from the Department of Statistics Malaysia (DOSM) showed. The unit price index of cement increased by between 1.2% and 3.2% from the previous month, DOSM said in its Special Release for Building and Structural Works, December 2025. By contrast, the unit price index of steel slipped slightly, declining by between 0.1% and 1.0% on a monthly basis. On a year-on-year basis, the unit price index of steel fell by between 3.2% and 7.1% in December 2025 compared with a year earlier, covering most areas nationwide. Cement prices, however, rose on an annual basis, with the unit price index increasing by between 2.0% and 6.1% across all areas.

(Jan 12): Iron ore advanced, buoyed by pre-holiday restocking from steel mills and a lift in hot-metal output. “Downstream restocking by steel mills is providing support for iron ore prices,” said Mengtian Jiang, an analyst at China-based consultancy Horizon Insights. Equity markets are, however, taking a more positive view on iron ore this year, according to analysts at Jefferies Financial Group Inc. Singapore futures gained 0.6% to US$109.10 a tonne as of 11.50am local time (same time as Malaysia) while yuan-denominated contracts in Dalian rose 1.2%. Shanghai steel futures also advanced.

(Jan 12): Indonesia plans to sell US-dollar bonds, the first such offering by an Asian sovereign this year, giving further impetus to a record start to global debt issuance by borrowers in 2026. The sale comes as the administration of President Prabowo Subianto looks to fund a budget deficit that risks exceeding the legal cap of 3% of gross domestic product (GDP) in 2026. Indonesia has set its budget deficit target at 2.68% of GDP this year, with total net bond issuance — including local- and foreign-currency debt — pegged at 799.5 trillion rupiah (RM192 billion) in 2026. The gap hit the highest level in at least two decades in 2025. Citigroup Inc raised its 2026 budget deficit forecast to 3.5% of GDP from 2.7%, citing expectations of faster spending on the free-meals programme and larger transfers to regional governments.

SHAH ALAM (Jan 12): The study on the need to revive the Pentaksiran Tingkatan Tiga (PT3) and Ujian Pencapaian Sekolah Rendah (UPSR) examinations will be conducted this year, with the findings to be presented to the Cabinet as soon as possible. As such, Education Minister Fadhlina Sidek said the Ministry of Education (MOE) called on all quarters to give the ministry some time to carry out a comprehensive study on the matter, including consultations with key stakeholders, particularly parents. Last week, Fadhlina said the MOE had reactivated the MPPK to study the need to revive the two examinations. UPSR was abolished in 2021, followed by PT3 in 2022, and both were replaced with School-Based Assessment. The MOE is also finalising the Sekolah Sejahtera Sekolah Selamat manual to be shared with parents and the public, she said.

This was not only because our Oscar-winning Tan Sri Michelle Yeoh brought global attention to Malaysia. While it is unclear how officials decided on the big “four-seven”, the effort required to deliver double-digit growth started as early as 2024. Our government-linked entities, in particular Malaysia Airports Holdings Bhd and Malaysia Aviation Group Bhd, are shouldering key aspects of this route development exercise. Improve land travel experienceIt is not an overstatement to say that the government is focusing too heavily on route development. Improvements in these areas would indirectly spur domestic demand, which has long been a key engine of economic growth for Malaysia.

For instance, the total market cap for telcos has been in decline since peaking in 2014. While the total market cap for the local bourse is rising, the growth is driven primarily by new listings. Just look at the blue bar, which shows the total market cap for companies that have been in existence in 2000. In other words, it is the total returns that matter — as long as the stock price gains exceed forex losses. The Absolute Returns Portfolio fell 1.2% last week, paring total returns since inception down to 42.3%.

KUALA LUMPUR (Jan 12): A former chairman of Pertubuhan Kebajikan Serantau Muslim pleaded not guilty in the Sessions Court here on Monday to misappropriating RM207,000 in donations for humanitarian aid seven years ago. Mohd Hakim Mohd Nor, 39, is charged in his capacity as the chairman of the organisation, with dishonestly misappropriating the fund belonging to the non-governmental organisation (NGO). The money was donated for humanitarian aid missions carried out in collaboration with NGOs in Myanmar, Yemen, Syria and Palestine. He was charged with committing the offence at a bank in Jalan Sultan Hishamuddin here on Dec 27, 2019. Judge Azrul Darus then allowed Mohd Hakim bail of RM10,000 with one surety, and also ordered him to comply with the additional conditions proposed by the prosecution.

(Jan 12): Australia plans to buy and stockpile minerals essential for defence and advanced technologies from domestic mining companies to help strengthen global supply chains. Australia is one of the top producers of rare earths outside China and the reserve is intended to offset some of Beijing’s influence. The stockpile plan comes after China recently restricted exports of rare earths to Japan amid rising tensions over Taiwan. That deal will support a pipeline of projects across critical minerals and rare earths valued at about A$13 billion, according to Monday’s statement. Rare earths are used to make permanent magnets essential in technologies from fighter jets to medical equipment.

“The composition of gross domestic product (GDP) growth will look different from last cycle in the years ahead,” wrote David Mericle, Goldman’s chief US economist. Goldman’s forecasts are more bullish:A GDP growth rate of 2.5% in 2026 (on a fourth-quarter-on-fourth-quarter basis) or 2.8% on a full-year basis. Core personal consumptions expenditures inflation of 2.1% year-on-year by December, with the core consumer price index slowing to 2%. Consumer spending should grow steadily, supported by tax cuts and real wage gains. Business investment will be the strongest component of GDP in 2026, benefiting from easier financial conditions, reduced policy uncertainty and tax incentives, Mericle wrote.

“Assistance for secondary school students is currently being refined, including the possibility of it being implemented in the form of in-kind support or education savings. Mustapha said the government is also considering collaboration with the National Higher Education Fund Corporation (PTPTN) to establish a National Education Savings Scheme (SSPN) account for eligible secondary school students. “For primary school recipients, assistance is provided in the form of RM500 vouchers for the purchase of school uniforms and supplies. Assistance for secondary school students, which is still in the implementation phase, is also planned at the same value,” he said. Meanwhile, Mustapha said the government is also channelling approximately RM62 million in 2026 BAP to 413,380 students across 1,460 schools throughout Sarawak.

KUALA LUMPUR: Foreign investors turned net buyers of Bursa Malaysia equities last week, snapping a four-week selling streak, with net inflows of RM42.5 million. The top three sectors with net foreign inflows were industrial products and services at RM206.7 million, property at RM69.0 million, and technology at RM63.0 million, the bank said. Meanwhile, the sectors with the largest net foreign outflows were utilities at RM207.5 million, plantation at RM123.5 million, and real estate investment trusts at RM30.2 million. MBSB Investment added that local institutions extended their buying streak for an eighth consecutive week, recording net inflows of RM126.6 million. Local retailers, however, remained net sellers for a sixth straight week, with net outflows totalling RM169.2 million.

KUALA LUMPUR (Jan 12): One Gasmaster Holdings Bhd, which specialises in gas monitoring and piping services, is seeking to raise about RM23.25 million from its listing on the ACE Market. The initial public offering (IPO) is priced at 25 sen per share, according to its prospectus unveiled on Monday. Applications for the IPO will close on Jan 16 and listing is scheduled for Jan 27. Headquartered in Selangor, One Gasmaster also provides industrial hygiene service as well as maintenance and calibration services. One Gasmaster is expected to be valued at RM77.5 million upon listing.

PUTRAJAYA (Jan 12): A senior Malaysian Armed Forces (MAF) officer returned to the Malaysian Anti-Corruption Commission (MACC) headquarters here on Monday, believed to give a statement in connection with a corruption case. A vehicle carrying the officer entered the MACC building at about 10.10am. It is understood that this is his second appearance at the MACC office, after being questioned for about 13 hours on Sunday (Jan 11). Media reports quoted MACC chief commissioner Tan Sri Azam Baki as confirming the matter, stating that his investigators still require the officer’s statement to assist in the investigation. Azam said the officer was allowed to leave around midnight, but his questioning will continue on Monday.

After having laid down the pillars of reform in 2024-2025, my mission for 2026-2027 is deliberate and unequivocal: “Modernising the Health System, Elevating Service Quality” (Memodenkan Sistem Kesihatan, Melonjakkan Mutu Perkhidmatan). This shift towards primary care ensures that quality health services are brought closer to communities rather than relying solely on congested urban hospitals. As outlined in the 13th Malaysia Plan (13MP), the National Health Fund is designed to pool and diversify health financing and change how we pay for care. Furthermore, to empower citizens, we are introducing voluntary, standardised base Medical and Health Insurance/Takaful (MHIT) products, offering better value without compromising quality. The baton we pass forward will be steadier, the path precisely charted, and the health system resilient, sustainable and equitable.

(Jan 12): The People’s Party, whose predecessor won Thailand’s last election, pledged to form a “government of change” as it set out sweeping reforms and plans to remedy the country’s ailing economy. The People’s Party is also seeking to galvanise Thailand’s lacklustre economic performance by pivoting toward manufacturing components for technologies like semiconductors as well as revitalising legacy industries. The party also seeks to plug “black holes” in the economy within its first 100 days in office to boost competitiveness. The People’s Party represents a major threat for the two camps, after its predecessor, Move Forward, won the last election in 2023. We have the right team and the right people, the policies and the plans ready for immediate action,” Natthaphong told supporters in capital Bangkok, the party’s electoral stronghold.