Morning Brief

Budget 2027 has been dubbed an SME-friendly budget, with RM57 billion in financing and guarantees, lower corporate tax rates and exemptions from the upcoming minimum wage increase. But with smaller businesses facing rising operating costs and tight profit margins, will these measures provide meaningful relief? We hear from Datuk William Ng, National President of SAMENTA, about access to financing,...

Malaysia is considering allowing registered refugees to work in sectors facing critical labour shortages, potentially offering businesses much-needed workers while giving refugees a legal means of supporting themselves. But previous attempts have faced implementation challenges, and concerns remain over exploitation, job competition and border management. We speak to Joanne Chua, Executive Directo...

The Magnificent 7 label is cracking. Between 2023 and 2025, these mega-cap tech stocks returned roughly double the S&P 500 and accounted for a third of the index by weight. Today, that unified trajectory has reversed, the group is trailing the broader benchmark and stock performances are diverging, with Nvidia and Apple surging while Tesla remains in negative territory. Dan Ives, Senior Managi...

Education remains the largest recipient of government spending in Budget 2027, with the Education Ministry allocated nearly RM69 billion, 4% more from 2026. Nina Adlan Disney, Managing Director of LeapEd Services, shares her insights into whether or not Budget 2027 adequately addresses the needs of students and teachers and what more is needed to improve the quality of education in Malaysia. Broug...

Forest and peatland fires in Indonesia continue to damage the environment and send haze across Southeast Asia. A recent report by Greenpeace and Pantau Gambut has identified Malaysian and Singapore-linked companies among the entities connected to the fires. Albert Bansa, Greenpeace Malaysia Environmental Campaigner, takes us through the report. The Morning Brief is brought to you by CIMB Private W...

Budget 2027 sets Malaysia’s development expenditure at RM83 billion, a bump up from last year, yet below the 13th Malaysia Plan's annual average. UOB Kay Hian Senior Equity Analyst Jack Goh joins us to evaluate where contract flow actually lands. The conversation dives into the post-election timing of major infrastructure rollouts, the distinct edge Borneo-based contractors hold over peninsular ri...

In June, Amova Asset Management completed its acquisition of AHAM Capital. The Japanese asset manager now controls a business with over RM100 billion in assets under administration. Stefanie Drews, President and CEO of Amova Asset Management Group, joins us to explain why an acquisition in Malaysia made sense over other Asian markets, what role AHAM will play in the group's broader regional strate...

Malaysia's federal government has successfully narrowed its deficit to 3.6% of GDP, but the revenue-to-GDP ratio has slipped to 16.4%, the lowest in six years. Meanwhile, emoluments and pensions now consume 40% of government spending, retirement charges are climbing toward RM45 billion, and federal debt sits above 65% of GDP with a 60% target two years away. Suhaimi Ilias, Group Chief Economist at...

The Health Ministry will receive RM47.7 billion under Budget 2027, with more than 9,000 contract doctors set to be offered permanent positions and a new affordable MediAsas insurance plan due to launch in January. Dr Khor Swee Kheng, CEO of Angsana Health, assesses the budget's healthcare funding priorities, workforce challenges, the affordability of private healthcare and the reforms needed beyon...

Budget 2027 introduced incentives to broaden capital market access for Malaysia’s micro, small, and medium enterprises (MSMEs) and mid-tier companies (MTCs), including a RM270 million matching fund allocation for equity crowdfunding (ECF) and peer-to-peer (P2P) platforms. Datin Paduka Azalina Adham, Managing Director of the Securities Commission Malaysia (SC), joins The Morning Run to outline how...

With US equities hovering near record highs, attention turns to Q3 earnings expectations for the S&P 500. As valuations remain resilient despite numerous headwinds, William Chang, Senior Client Portfolio Manager at Franklin Equity, joins The Morning Run to evaluate whether corporate earnings can continue to justify today’s lofty valuations He examines how AI infrastructure investments, project...

Malaysia's stock market has struggled to sustain its gains this year, underperforming several regional peers. Can Budget 2027 provide the catalyst for a recovery? Alexander Chia, Head of Regional Equity Research at RHB Investment Bank, discusses the budget's implications for investors, the outlook for the FBM KLCI and where he sees opportunities in the market. Brought to you by Mah Sing. Reinvent...

Malaysia’s nearly RM460 billion Budget 2027 promises greater tax relief, higher minimum wages and continued development spending. But how does the opposition assess the government’s economic priorities, and what alternatives would it offer? We speak to PAS assemblyman and Kedah State Executive Councillor Prof. Haim Hilman Abdullah about the budget’s approach to living costs, taxation and wage grow...

Budget 2027 comes at a critical juncture for Prime Minister Datuk Seri Anwar Ibrahim, following electoral setbacks for Pakatan Harapan and growing calls from within the Unity government for an early general election. Ibrahim Suffian, Co-founder and Programmes Director of Merdeka Center shares his views about the political calculations behind the budget, the government's standing among Malay voters...

Budget 2027 introduced modest changes to Malaysia's tax landscape, but with the government projecting tax revenue to grow by 5.8% (RM16.3 billion), where will that revenue come from? Sim Kwang Gek, Country Tax Leader at Deloitte Malaysia, joins The Morning Run to unpack the tax adjustments, and how these policy shifts will impact the middle-income group, corporate profits, and the broader tax refo...

Budget 2027 is expected to focus on easing the cost of living and strengthening household incomes, but the government faces limited fiscal room to deliver meaningful relief. With middle-income Malaysians feeling increasingly squeezed, attention is turning to personal income tax reforms, housing affordability, cash transfers and the burden of SST. We speak to tax consultant SM Thanneermalai about w...

With Budget 2027 set to be tabled, Malaysia’s live entertainment industry is calling for more than just additional funding. Industry players want the government to abolish outdated entertainment duties, simplify concert approvals and address inconsistent regulations across states. We speak to Rizal Kamal of ALIFE Malaysia about how these reforms could lower costs for promoters and consumers, attra...

The Hang Seng Biotech Index has outperformed the broader market this year, fuelled by a wave of out-licensing deals with Western drugmakers, stronger R&D capabilities and attractive valuations. Eight years after the first biotech listing in Hong Kong, a growing number of these companies are turning profitable and moving from clinical-stage developers into commercial drugmakers. But profitabili...

The Reserve Bank of India has raised its benchmark repo rate by 25 basis points to 5.5%, its first hike in nearly four years, and signalled that more tightening could follow. Inflation has stayed above the RBI’s 4% target for three straight months, driven by higher oil prices from the Iran war and a weak monsoon, while the rupee hovers near record lows. Yet the economy grew 7.8% in the April to Ju...

Sabah got RM6.9 billion in federal development money under Budget 2026. Even so, the Auditor-General found that only four of the 35 Pan Borneo Highway packages in Sabah were finished as of March 2026, and the project's cost has risen by RM1.1 billion to RM19 billion. With 16 of the 29 MA63 issues now resolved and Budget 2027 coming up, the state wants the rest of its 40% revenue entitlement, more...

Paramount Skydance has completed its US$110 billion takeover of Warner Bros Discovery, creating a Hollywood giant with franchises including Harry Potter, DC and Game of Thrones. But the combined company faces an enormous US$80 billion debt burden, ambitious cost-cutting targets and declining traditional television audiences. Can Skydance successfully integrate HBO Max and Paramount+, compete with...

Malaysia’s Parliamentary Services Act is now in force, with appointments to the new Parliamentary Service Council expected to move forward next week. The reform aims to give Parliament greater control over its staffing, finances and institutional resources, reducing its dependence on the Executive. But how quickly can these changes be implemented, what will they mean for MPs and parliamentary staf...

Malaysia’s tourism industry entered 2026 with ambitious targets and substantial government support, but higher travel costs and geopolitical disruption have weighed on international arrivals. With Budget 2027 approaching and the Visit Malaysia campaign extended into next year, the industry is seeking further support ranging from promotion and infrastructure to tax relief and lower operating costs....

34 years after it was repealed, the Parliamentary Services Act came back into force on October 1st, promising to free Parliament's administration from Executive control. But with key details still missing, from how "sufficient funding" is defined to who actually belongs to the parliamentary service, questions remain over whether the legislature has truly gained genuine independence. Wo Chang Xi, R...

More than two decades after ASEAN adopted its transboundary haze agreement, fires in Indonesia are once again affecting air quality across the region, with Sarawak particularly badly hit. Malaysia is pushing for stronger regional coordination, while attention is also turning to the responsibility of companies linked to plantation fires across borders. We examine whether ASEAN’s existing approach h...