Opinion

The PAC should seriously consider calling both organisations to explain themselves in greater detail 

THE “corporate thriller” involving Telekom Malaysia Bhd (TM) in the US and Retirement Fund (Inc)’s (KWAP) failed investment in Indonesia have again thrown the spotlight on deeper governance weaknesses within major government-linked institutions. 

Both incidents warrant serious introspection. 

Start with TM. US prosecutors alleged that senior managers at the telecommunications group orchestrated a sophisticated scheme to siphon more than US$20 million (RM79.35 million) through falsified contracts, fake vendors and impersonation tactics. In one particularly brazen episode, artificial intelligence (AI) software was allegedly used during a video call to disguise an imposter as a former employee during an exit interview requested by TM’s human resources department. 

The alleged misconduct reportedly continued for six years. 

That alone should alarm stakeholders. TM is not some obscure private company operating outside the glare of scrutiny. It is the nation’s flagship telecommunications company (telco), a critical infrastructure player with millions of customers and substantial government-linked ownership. 

The obvious question is this: How could such an elaborate scheme allegedly continue for years without detection? 

TM has since said it initiated an internal investigation in December 2025 after suspecting misconduct involving individuals at its US subsidiary, Telekom Malaysia (USA) Inc. 

In its exchange filing, the company said the employees were terminated in February 2026 after prima facie findings were established. TM also said it had engaged external legal counsel and forensic specialists before referring the matter to US authorities. 

The group further stated that it has tightened internal controls and governance processes to reduce the risk of recurrence. 

Those are necessary responses. But they do not fully answer the broader governance issue hanging over the company. 

How effective were TM’s internal oversight systems if the alleged misconduct could persist for so long? Were there red flags that were ignored? Did the governance structures at the group level fail to detect unusual procurement or payment patterns? How much autonomy did overseas operations have? 

The incident also illustrates how corporate fraud itself is evolving. The alleged use of AI tools to impersonate a former employee during a video interview reflects a new layer of operational risk that corporations are now being forced to confront. 

Indonesian Deal 

Then there is KWAP and its investment in Indonesian agritech start-up eFishery. 

The civil service pension fund had presented eFishery in its 2023 sustainability report as a technology-driven aquaculture company capable of modernising fish and shrimp farming through automated feeders, digital marketplaces and financing solutions. The investment was framed around food security resilience, sustainability and long-term growth through private equity exposure. 

On paper, the narrative was compelling. 

Founded in Bandung in 2013, eFisher y positioned itself as a digital platform seeking to improve efficiency within Indonesia’s fragmented aquaculture sector. Its business model centred on reducing dependence on intermediaries, lowering transaction costs and improving farmers’ access to financing and market channels. 

KWAP eventually invested US$47.7 million, or 24% of eFishery’s US$200 million Series D fundraising round in July 2023. 

The amount may be small relative to KWAP’s overall fund size, but it is still involves public money entrusted to the pension fund to safeguard the retirement security of civil servants. 

Less than two years later, eFishery founder Gibran Huzaifah was sentenced to nine years in prison by an Indonesian court over financial manipulation and money laundering linked to a US$300 million scandal that shattered one of South-East Asia’s most celebrated start-ups. 

The collapse bruised heavyweight investors including SoftBank Group Corp and Temasek Holdings Ltd. KWAP was dragged down with them. 

Yet what stands out most is the silence. 

KWAP has said very little publicly about the investment, the due diligence process, the governance safeguards in place or whether any internal review was commissioned after the scandal erupted. 

That silence contrasts sharply with the uproar surrounding the RM43.9 million losses suffered by Khazanah Nasional Bhd and Permodalan Nasional Bhd in Fashion- Valet Sdn Bhd. 

Even Temasek publicly expressed disappointment over the eFishery episode and reflected on the lessons learned from start-up investing, though no public disclosure of disciplinary action has emerged. 

To be clear, there is nothing inherently wrong with pension funds or sovereign investors allocating a portion of their capital to private equity or venture investments. Higher-risk investments can potentially generate stronger long-term returns and provide exposure to emerging industries. 

The issue is governance and accountability. 

What due diligence was undertaken before KWAP committed funds into eFishery? Were independent operational audits conducted? Did the pension fund have adequate board representation or investor protection mechanisms? Were warning signs missed? Were there no site visits? 

More fundamentally, when does a failed investment remain simply part of venture capital risk, and when does it become a due diligence failure that warrants accountability? 

Public Funds 

These are not unreasonable questions when public funds are involved. 

Both TM and KWAP ultimately owe the public more than carefully crafted boilerplate statements after things go wrong. Stakeholders deserve greater transparency on how such incidents happened, what failures occurred internally and what corrective actions are being implemented. 

The Public Accounts Committee (PAC) should seriously consider calling both organisations to explain themselves in greater detail. 

Because at the heart of both episodes lies the same uncomfortable question: Were the governance guardrails truly strong enough in the first place? 

• Habhajan Singh is the corporate editor of The Malaysian Reserve.

• This article first appeared in The Malaysian Reserve weekly print edition

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LATELY, “resilience” has become a polite way of saying, “we have no idea how to fix this, so you will simply have to bear it”. 

The National Chamber of Commerce, a group which loves buzzwords such as “synergy”, has now urged businesses to be “resilient” for the rest of 2026. 

It is a droll idea: That a country already struggling with rising living cost should respond by simply working harder and absorbing more pain. It is the economic equivalent of being set on fire and being told the professional response is keep a positive attitude about the heat. 

It is easy enough to ignore the madness when it remains on TV soundbites, but the walls are closing in. The cost of a simple meal is climbing while the government, in a panic over the widening ripples of the war on Iran, is busy carving budget cuts out of our own public services. From the shadow of the genocide in Gaza and Lebanon to the tightening noose of global energy prices, the chaos has stopped being a “foreign affair” and started becoming our kitchen-table reality. 

We are living in a global pressure cooker, and while the authorities tell us to keep our heads down and our chins up, the truth is that the machinery of our daily lives is starting to grind to a halt. 

This culture of staged endurance isn’t just for boardrooms; it is infecting our national education vision. Look at the recent “pathway” for Unified Examination Certificate (UEC) and tahfiz students to enter public universities. The ministry is working overtime to insist this is not “recognition”, but they are terrified of the word. It claims that by allowing these students entry, on condition that they pass their Bahasa Melayu and History papers in the Sijil Pelajaran Malaysia (SPM) examinations, they are just being “inclusive”. 

It is a transparent way to test the waters. By cutting a small path for UEC graduates, policymakers are driving a wedge right through our national education vision, all while sweating bullets to promise the door is not actually “open”. And the inclusion of tahfiz schools? Let’s be honest. That is just a bone thrown to the public to distract us. It is a classic shell game: One hand offers you a “bone” of religious education, while the other is busy testing how much of this “different” system the country will swallow before people start getting angry. 

Whether it is a suit from the Chamber of Commerce or a minister talking in circles, it is all the same show. They are creating a theatrical display of “endurance” to keep the set from falling apart while they scramble to protect their own agendas. They want you to pay attention, play along and navigate their complex nonsense. 

Well, I’m done paying that tax. 

If you want to stay sane in this constant state of distress, you do not bury your head in the sand — you become an expert in filtering the noise. Resilience is not about ignoring the world; it is about choosing what you let in. You cannot fix every global tremor, administrative hiccup, or the latest absurdity in the Agreement on Reciprocal Trade (ART), so stop acting like you are the night-watchman for the entire planet. 

Here is my three-point protocol for taking back your time: 

The Kopitiam Buffer: Find a spot where the WiFi is spotty and the talk is strictly limited to the price of eggs. When the world demands your attention, retreat to a place where the biggest problem is whether there is more coffee in the saucer or in the cup. This is your wall against the nonsense of the “national conversation”. 

The Information Fast: Recognise that most “Breaking News” alerts are just distractions to keep you from noticing that nothing is actually getting done. When you see a story about a general election (GE) — years before it is due — hit the mute button. If a policy or a squabble does not stop you from doing your job or sleeping at night, it does not exist. 

The Pivot Reflex: Learn to quickly change any conversation from “National Policy” to “Where can I get the best ayam geprek near here?” It is a polite way to show you have opted out of the theatrical anxiety of the modern age. 

Politicians can keep rearranging the chairs, and the global storm clouds — like the boring, endless drama between the US and Iran — continue to gather. They want you to be “resilient,” which is just their way of asking you to keep paying for the privilege of watching their circus. 

But you can choose not to play along. While the world is busy collapsing in high definition, the real story is much smaller and much more important: It is your morning drink, the peace of a quiet street and the absolute refusal to let someone else’s crisis become your own. 

The world will keep spinning its wheels in the mud. Let it. You have breakfast to finish and frankly, it is getting cold. 

• ZB Othman is an editor of The Malaysian Reserve.

• This article first appeared in The Malaysian Reserve weekly print edition

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THERE is no two ways of interpreting what is developing in Selangor — the Sultan of Selangor, Sultan Sharafuddin Idris Shah is upset with two DAP personalities and a third later decided to join the fray to defend his colleagues.

Anger is simmering among the Malays, both leaders and common folks, but that is something which the DAP is fully aware of.

While it all started with the Sultan’s decree on the need to free Selangor of pig rearing, the reaction among DAP representatives and leaders was one that opposed the decree, though couched in a seemingly respectful and reasonable tone.

However, the Sultan is wise to such backhanded defiance and decides to “school” the DAP personalities on what Rukunegara, the national creed, stands for.

In fact, he did not mince his words when he singled out DAP’s Seri Kembangan assemblywoman Wong Siew Ki and its former State Exco member Ronnie Liu.

The Sultan said they should visit the Dataran Selangor every week to understand and internalise the meaning of the Rukunegara so that they become citizens who respect the sovereignty of the Rulers’ Institution and they know about courtesy and morality.

It was a very loaded and pointed statement, a reprimand for the unending attempts of the DAP personalities to dispute the Sultan’s decree on no more pig-rearing in Selangor.

While the issue could have ended as agreeing to disagree, another DAP stalwart and its disciplinary committee chairman Tony Pua decided to join the fray and posted on Facebook about what a constitutional monarch is and the limits to their powers which he spelt out as being aspects of Malay customs, Islam and constitutional roles such as the appointment of mentri besar (MB) and the approval for the dissolution of state assemblies.

He further contended that Malaysians do not live in a system whereby the monarch can issue binding decrees which legislate all aspects of their lives.

Pua concluded that he was loyal to the King and Country, would abide by the Rule of Law based on the Constitution but not decrees.

His posting caused ire across the Malay spectrum. 

By and large, the anger is not so much about whether what Pua said is correct but rather the manner in which it was said and why it was said.

Going by the reactions, even those from Malay parties who are aligned to the DAP in the current administrative set-up vehemently denounced him with police reports lodged against him by the dozens.

There were also personalities who were not aligned to any political party who joined the fray, expressing their disgust with Pua’s posting which to them was outrightly rude and uncouth towards the monarch.

Government assemblymen, in particular Malays, were challenged to state their stand with regard to the DAP’s behaviour towards the Sultan.

While all these are playing out, Selangor MB Amirudin Shari reportedly said, among others, that all quarters should accept that Article 4 of the Federal Constitution had placed that the constitution is supreme and that Malaysia is a Parliamentary Democracy and Constitutional Monarchy.

Amirudin also spoke about “selective loyalty” to the monarchy, warning against disregarding the Selangor Ruler’s views when they conflict with political interests.

It sounds fine until one dissects it further.

Firstly, when Amirudin spoke of selective loyalty meaning loyal when suitable, the present Federal Government is a product of such and those who defended the formation had worn the “advice” of the Ruler as a decree and those who opposed the formation as being treasonous.

The tag is now returned to Amirudin and his allies, both at the state and federal levels.

Secondly, since Pua pointed out that the monarchs’ powers are strictly limited to aspects, among others, of Malay customs and Islam, obviously the pig rearing issue touched on these aspects.

Simply put, much as the Rulers are Constitutional Monarchs, the institution is also the last line of defence for the Malays and Islam and to continue allowing the rearing of pigs in a Malay/Muslim majority state is indeed contentious.

Decree or not, the Sultan’s concern is a shared concern, that of most Malays/Muslims in the state and the Ruler’s concerns cannot then be dismissed because he is a Constitutional monarch.

It then becomes a racist attitude in which, conventions, customs, good manners and race relations are of no consequence when the law does not operate in a vacuum.

Indeed, there is selective loyalty and there always would be, in the past, present and future. History has shown that there were times when the Malays disagreed with the Rulers and expressed it publicly.

But these acts of disagreeing are, if scrutinised, have ensured the longevity and strengthened the institution which has ensured it continues to be respected and regarded until today.

Yet, loyalty is a given when the Sultan is actually doing what the majority Malays and Muslims in the state want him to do which is to bring an end to pig rearing in the state.

He was speaking for the Malays, and probably there are also some non-Malays who shared the same concerns.

The Malays, by and large, do not think that the Rulers are always right. But when they are right, loyalty and regard are also a given. In this case, it had nothing to do with him being a Constitutional Monarch.

It is he, as a Malay Ruler who felt that pig-rearing had caused much discomfort to a large segment of the living in Selangor. Simply put, the Ruler was doing what is expected of him.

Yet, it was met with arrogance and pig-headedness.

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Without major reforms, the nation risks underusing its RE potential as climate, economic and energy security pressures grow 

MALAYSIA has produced multiple climate and energy frameworks over the past five years. Starting with the Malaysia Renewable Energy Roadmap 2021 (MyRER), which defines near-and medium-term implementation steps for 2025 and 2035 developed by SEDA Malaysia, followed by the Malaysia Energy Transition Outlook (METO) by the International Renewable Energy Agency (IRENA) in 2023, which outlines long-term decarbonisation pathways; the National Energ y Transition Roadmap 2023 (NETR), which sets 10 catalytic initiatives along with long-term renewable energy (RE) targets towards 2050 and the National Climate Change Policy 2.0 (NCCP) 2024, which embeds climate action across sectors, targets net zero by 2050 and prepares the ground for a Climate Change Act. 

Collectively, these documents articulate a cleaner, more resilient future for Malaysia. Yet strategic blueprints and roadmaps alone do not deliver credible transitions. Without substantive reforms to market regulation, infrastructure planning and investment frameworks, Malaysia risks underutilising its renewable potential at a time of mounting climate, competitiveness and energy security pressures. 

Regulations, Financial Practices 

Malaysia’s RE deployment is currently governed by a patchwork of procurement mechanisms and incentives, including Feed-in Tariff (FiT) for non-solar, Net Energy Metering (NEM), Large Scale Solar (LSS) auctions and the Corporate Renewable Energy Supply Scheme (CRESS), which mainly supporting solar developments. However, several structural regulatory and financial practices continue to shape and constrain outcomes: 

Tenaga Nasional Bhd (TNB), Sarawak Energy Bhd (SEB) and Sabah Electricity Sdn Bhd (SESB), which are state-owned and government-linked companies (GLCs), retain effective control over transmission, distribution and grid investment decisions. This limits independent power producers’ (IPP) bargaining power and concentrates risk and discretion within a single corporate actor within each region. 

• Continued preferential treatment for fossil fuels: Natural gas remains embedded as a “transition fuel” through regulated pricing and is billed as a destination fuel by certain parties. Infrastructure planning and long-term capacity commitments have created a lock-in to fossil fuels, while externalities such as carbon costs remain underdeveloped. 

• State-led capital allocation bias: Public finance, banks and institutional investors remain more comfortable financing gas and carbon capture projects led by Petroliam Nasional Bhd (Petronas) than decentralised renewable or storage assets. Altogether, these practices signal continuity (BAU) rather than transformation, weakening the credibility of stated transition ambitions. 

Negative Impacts of Existing Regulations and Practices

• Fossil fuel lock-in, policy gap: The continued prioritisation of gas infrastructure, including liquified natural gas (LNG) terminals, pipelines and gas-fired capacity, risks locking Malaysia into carbon-intensive assets with long operational lifespans. This creates future stranded asset risks as carbon pricing, border adjustment mech nisms and global capital constraints tighten. Mixed signals between net-zero pledges and gas expansion dilute investor confidence in renewables and undermine long-term decarbonisation credibility. Investment uncertainty: Unclear grid access pricing, inconsistent permitting timelines and limited availability of longterm, bankable corporate Power Purchase Agreements (PPAs) increase transaction costs and risk premiums. For multinational corporations with climate commitments, Malaysia compares unfavourably with markets that offer transparent wheeling charges, predictable tariffs and robust PPA frameworks. The result is slower project pipelines and constrained private capital mobilisation. 

• Infrastructure mismatch with a renewable system: Malaysia’s grid was built for a centralised, dispatchable fossil system. High penetration of solar and future wind requires flexible grids, storage and digital control systems. While TNB has announced RM43 billion in grid upgrades, progress remains incremental relative to the scale required. The absence of a binding, publicly articulated grid roadmap creates uncertainty around connection timelines and curtailment risk. 

Policy Levers 

To translate ambition into delivery, Malaysia must deploy targeted policy levers that directly address regulatory, financial and institutional bottlenecks. 

Infrastructure-forward energy policy: Adopt a National Grid Development Plan that explicitly aligns grid investment with RE targets. This should prioritise:

– Smart grid deployment, demand response and digital system operators.
– Utility-scale energy storage, including batteries and pumped hydro.
– Planned reinforcement of renewable-rich zones.
– Cross-border interconnections under the ASEAN Power Grid. 

Malaysia’s existing cross-border wheeling arrangements with Laos, Thailand and Singapore, enabling up to 100-megawatt (MW) today and potentially over 6,000MW regionally, demonstrate the feasibility of regional balancing and cost optimisation. 

• Market reform for competitive, bankable contracts: Introduce transparent and fair pricing for grid access and ancillary services. Expand competitive auctions to provide long-term price certainty. Enable corporate PPAs with clear wheeling rules and credit support mechanisms, reducing reliance on bilateral negotiation with incumbents. 

• Carbon pricing, fossil fuel phase-down: Implement an economy-wide carbon pricing mechanism, whether tax-based or cap-and-trade, aligned with NCCP 2.0. Introduce explicit carbon price signals to correct market distortions, shift capital toward renewables and storage, and discourage new fossil fuel investments without relying solely on administrative bans. 

• Governance and Institutional Rebalancing: Strengthen the independence of regulators and system operators by separating grid planning from ownership. Align GLC mandates, with measurable climate and renewable integration targets to reduce conflicts between corporate strategy and national policy. 

Positive Impacts

• Accelerated investment, lower costs: Australia’s Renewable Energy Zones and grid-access reforms have unlocked large-scale private investment and driven record-low renewable prices through transparent infrastructure planning. 

• Higher renewable penetration with system stability: Germany’s investment in smart grids, storage and market-based dispatch has enabled high renewable shares while maintaining reliability, reducing curtailment and volatility. 

• Improved energy security through regional integration: Cross-border interconnections in the European Union (EU)/ UK and emerging ASEAN Power Grid reduce reliance on domestic fossil capacity, diversify supply and smooth seasonal variability. 

Developing a proactive plan for data centres and electrification examples such as Ireland and parts of the Nordics show that flexible grids and storage can accommodate rapid load growth without increasing fossil dependence. 

Malaysia has no shortage of vision. From MyRER, NETR, METO and NCCP 2.0, the country has articulated one of South-East Asia’s most comprehensive transition narratives. What remains missing is structural follow-through: Reforming how markets are regulated, how grids are planned, how capital is priced and how institutions are governed. 

If Malaysia aligns its regulatory and financial architecture with its climate ambition, it can unlock private investment, modernise its power system and position itself as a regional clean energy hub. Without such reforms, the renewable transition risks being constrained by market structures, fossil fuel lock-in and fragmented execution, at a time when decisive, system-level action is most needed. 

RE is the solution and must be integrated to our development to effectively reduces greenhouse gas (GHG) emissions, which grow exponentially alongside energy demand. Malaysia should create the right environment for it to thrive, instead of being locked into legacy infrastructure. 

• Ganesha Pillai, Head of Engagement, RimbaWatch. 

• This article first appeared in The Malaysian Reserve weekly print edition

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THEY say that women have more words than men. Let me just say, modern motherhood is challenging even the most verbose of us. 

I recently had lunch with two fellow millennial mothers; one a corporate executive, the other a stay-at-home mom. Before the food arrived, the executive picked up her phone. “I’ve gotten 36 messages since we’ve been sitting here!” she exclaimed. No, not from work. From friends planning a girls’ weekend. 

The other mom confessed that the pickleball league she leads had turned into a fulltime job from the constant communication. I glanced down at my own phone: 118 unread texts, 548 unread Group Mes, 937 unread emails. I’ve looked at (some of) them. Really. 

To be sure, motherhood has always come with its share of communication demands. A 2025 study from the University of Arizona found that women between the ages of 25 and 64 speak about 3,000 more words per day than men of the same age — 21,845 words to 18,570. Researchers hypothesise this isn’t due to gender differences, but because women in this age group are more likely to be a primary caregiver. Children tend to ask a lot of question, and their brain development benefits from more conversational parents and greater word exposure. 

But these days, talking is just the tip of the maternal iceberg. In 2026, the volume of digital communication for American mothers has reached record highs. According to a 2026 YouGov survey, 30% of Americans say that rates of text messaging have increased year-over-year. 

Gone are the days of text plans that limited the number of messages sent or received and you had to be choosy. Gone are the days when people were willing to wait a day or three for their email to be answered. Email now seems as archaic as a beeper. 

Messaging apps and texts impose urgency. You don’t want to be the last one to answer on a thread, lest you get stuck bringing the paleo-friendly class treats or are seen as uncaring and aloof. 

Trying to do something “just for you”? That’s no break — that’s just more messages. (See above under: Girls’ weekend. Pickleball league. 

This all creates a state of constant interruption. 

A decade ago, school information came home in a folder or an envelope. Now it’s a game of catch-me-if-you-can with moms sifting through Group Mes, text threads, school emails and SchoolPass and Vidigami notifications — and that’s before you ever get to planning a sleepover or figuring out a child’s homework. 

This adds up to real time and responsibility. Recent parenting polling by Harris, conducted on behalf of a popular digital calendar that promises to reduce this overload, suggests that parents (disproportionately mothers) spend roughly 30 hours a week solely on planning, scheduling and family logistics — much of which is conducted through digital messaging. 

That may sound high to some. (Or self-serving from a company selling a solution.) But it makes sense to me. A single line-item on a group chat, such as for a birthday party invitation, might lead to a whole new set of logistical questions. Do I need a gift? What are my other kids doing then? Do I need to rearrange an appointment? Not to mention trying to sort and navigate upcoming summer camps and childcare. 

Dads feel it, too — but the data suggest moms feel it most. A 2026 study from the University of Bath found that mothers handle roughly seven out of 10 mental-load tasks (remembering dental appointments or creating the grocery list). These mental tasks tend to promulgate digital labor of their own, such as adding calendar appointments, sending reminders, even sending messages to oneself. 

There are management techniques for our new reality, but they don’t solve the problem. I’ve mostly logged off of the school text threads. I brick my phone for periods during the day. I batch-answer my emails to preserve time to think. I move my lists to notebooks and sticky notes rather than rely on yet another app. For tech-savvy parents, I’m told there are artificial intelligence (AI) tools to streamline and synthesise all the incoming chatter; a bit like spending more to save more, if you ask me. 

But none of this brings the word count demanded by modern motherhood back to the 1990s. 

Are there upsides to all this communication? You bet. Never has so much been able to be shared in a 24-hour period. I see pictures of my children’s class and grades in real time. I can multitask while getting groceries. Friends’ birthday gifts are coordinated and classroom parties are Pinterest-worthy. I can ping all the moms in a grade, or our neighbours, or all our friends in three seconds’ time from halfway around the world. 

But there can be too much of a good thing. 

Which is why on Mothers’ Day, I called my own mom and then promptly remove my phone from my bedroom for a long morning in bed of no words — written or spoken. 

To my fellow mothers out there, may you have a day to do the same. — Bloomberg

• This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

• This article first appeared in The Malaysian Reserve weekly print edition

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THERE is a uniquely Malaysian nonchalance that is epitomised by a teh tarik at a mamak stall at 8 o’clock in the morning. 

The West Asia conflict may send global oil prices rocketing towards US$130 (RM514) per barrel, yet the average Malaysian remains remarkably unruffled by the reality that our economic cocoon is about to be shredded. 

We sit, bathed in gentle morning sun and the steam from freshly made teh tarik, convinced that as long as the roti canai remains crisp and Budi Madani RON95 (Budi95) petrol is still RM1.99, everything is basically fine. We treat the news as something that happens to other, less fortunate people who don’t enjoy subsidised fuel. 

The government has been warning us that something bad financially is coming but its current rhetorical campaign can be summed up as: “There will be pain, and it will come soon.” It is a charmingly blunt sentiment delivered with the breezy detachment of a Health Ministry dresser about to plunge a needle into your arm. For some, however, the pain is already here, and a cold sweat has replaced that nonchalance. 

Anyone with a diesel vehicle in the peninsula has had an advance taste of what may be coming. Unsubsidised diesel recently hit RM4.87 per litre. I have friends who have already mothballed their trucks, realising that at nearly RM5 per litre, they are no longer “adapting”, they have simply given up. 

Putrajaya’s heralds of doom, warning about economic pain, should also remember that pain is not a policy; it is the consequence of treating the treasury like a magical, self-replenishing ATM. Giving money and power to the government can sometimes feel like handing car keys to a teenager — there is always the risk the they vehicle will be crashed, followed by a request for more money to fix it. 

In our case, the administration has crashed the budget and is now asking us to “adapt” to walking, while it consumes everything in sight and makes a lot of noise about being misunderstood. 

The numbers are no longer just boring accounting. Monthly fuel subsidies have exploded to RM4 billion. To fix it, the Treasury is wielding a scalpel with all the precision of a bulldozer. They are slicing RM10 billion from the budget, including RM3.06 billion from healthcare and RM2.39 billion from higher education. 

Essentially, we are may be preparing for a financial tsunami by weakening two of the very things we will need the most when the pain hits: A healthy workforce and a generation smart enough to find the high ground. 

The comedy peaks when you look at what was not cut. While healthcare starves, our “strategic” megaprojects remain bloated. We cannot afford enough hospital beds, yet we magically find RM2 billion for a sovereign artificial intelligence (AI) cloud and RM4 billion for a smart city in Putrajaya promoted as a model for “sustainable urban living” under this administration. 

Since the government is passing the buck to us, and its roadmap to the plebeians is just a sign that says “Good Luck”, here is a more pragmatic survival guide for those of us without a government-funded chauffeur: 

Brace for the June “dry-up”: Factories have been warned about possible production stoppages starting next month as raw materials dry up. If you rely on overtime or shifts, assume those opportunities are about to vanish. Secure a side hustle now before everyone else begins competing for the same gig. 

Audit your own vanity projects: If the government won’t cut its prestige projects, you must cut yours. The “treat yourself” artisanal coffee or that unused Strava subscription should probably be among the first expenses to go. With studies showing that 61% of us are unable to raise RM1,000 for an emergency, your immediate priority should be building a “diesel-proof” cash buffer. 

The “just-in-case” pantry: We are moving from a “just-in-time” world to a “just-in-case” economy. This is not advice to panic buy, but do anticipate that food prices, driven in part by a 30% to 50% spike in fertiliser costs, are unlikely coming down anytime soon. 

Demand a “vanity freeze”: Every time you hear about a healthcare cut, ask why that RM4 billion future city is still considered a priority. If there must be “pain”, it should be shared, starting from the top floors of Putrajaya down to the mamak stall. 

For now, the sun still shines and the roti is still (mostly) cheap. But if we do not start demanding a proper roadmap from the government instead of a eulogy, we may soon find ourselves left holding the baby. 

• ZB Othman is an editor of The Malaysian Reserve.

• This article first appeared in The Malaysian Reserve weekly print edition

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The time has come for the US, and much of the world, to reassess where China stands in the global order 

ONE telling takeaway from US President Donald J Trump’s visit to China last week was just how dramatically the global geopolitical balance has shifted. The US is no longer the undisputed sheriff in town. It now faces a formidable rival in China, one confident enough to meet Washington not from a position of deference, but increasingly as an equal. 

Trump met Chinese President Xi Jinping face-to-face on May 14 in what appeared to be a meeting between two leaders on equal footing. The world has not witnessed many such moments since the collapse of the Soviet Union left the US as the sole superpower. 

The two leaders last met in Busan, South Korea, seven months ago, shortly after Trump’s whirlwind visit to Kuala Lumpur for the ASEAN summit. That Busan meeting, in hindsight, now appears more consequential than many first realised. It was not merely another bilateral engagement, but perhaps a moment when the limits of US pressure on China began to show. 

In an earlier commentary, Busan: China’s quiet inflection point, I argued that the Oct 30 summit, which took place amid a barrage of tariff threats and economic brinkmanship, marked a strategic turning point. Trump arrived hoping to project strength. Xi left looking calm, composed and increasingly vindicated in his long-term game. 

Yet Beijing still rolled out the red carpet for Trump in a manner usually reserved only leaders it considers strategically important. The two men dined on Beijing roast duck, lobster and pan fried pork buns at lavish state banquets before concluding their final working lunch over kung pao chicken and brownies. 

Xi even hosted Trump at Zhongnanhai, the Communist Party leadership compound often described as China’s equivalent of the White House. Trump also became the only second sitting US president to formally visit the Temple of Heaven, after Gerald Ford in 1975. 

In his opening remarks, Xi declared that the world had arrived at a “new crossroads”, emphasising the importance of cooperation between the world’s two largest economies. He went further, saying China’s “great reju- venation” and Trump’s Make America Great Again (MAGA) vision could coexist. 

Both leaders stressed the global importance of stable ties, with Xi warning they must “never mess it up”, unusually direct words aimed at a US president known for unpredictability. 

If anything, the summit appeared to strengthen China’s hand. Trump was accompanied by more than a dozen major US corporate heavyweights, including Tesla Inc CEO Elon Musk, Nvidia Corp CEO Jensen Huang and Apple Inc CEO Tim Cook. Their presence underscored how deeply major US corporations remain tied to the Chinese market despite years of political rhetoric about decoupling. As of writing, Trump appears to have left Beijing with few obvious strategic wins. 

One detail worth noting: Trump requested for this trip. 

Many observers now view the summit less as a display of friendship and more as an exercise in managing a rivalry neither side can afford to escalate recklessly. Across the ideological spectrum, analysts broadly agree the visit signalled a shift away from open confrontation towards transactional coexistence. 

Trade stabilisation, large Chinese purchases of US goods and energy discussions linked to the Iran conflict emerged as key outcomes, while Taiwan remained the unresolved fault line hanging over the relationship. Beijing, meanwhile, projected far greater confidence than during Trump’s first presidency, presenting itself not as a subordinate power, but increasingly as Washington’s equal. 

Now, the time has come for the US, and much of the world, to reassess where China stands in the global order. 

Robert A Pape, a political science professor at University of Chicago, recently offered a sharp assessment of China’s trajectory. He argued that China is no longer merely catching up to the West, but is increasingly defining the next generation of consumer and industrial technology. More importantly, he noted how artificial intelligence (AI) is being integrated across entire sectors of the Chinese economy at remarkable speed. 

“China is massively integrating AI into electrification, robotics, infrastructure, cities and manufacturing to uplift whole regions, not just isolated pockets,” he said. “They have seas of electric vehicles (EVs) beyond Tesla that we cannot even buy in the US.” 

Pape noted how China is deploying innovations at scale. 

“China is inventing new widgets, but then diffusing them massively across sectors and regions. They’ve uplifted tens of millions of people in just a few years. What have we done for places like Pennsylvania and the Rust Belt?” he asked. 

For decades, the Rust Belt formed the industrial backbone of the US, stretching across states such as Ohio, Michigan, Pennsylvania, and Illinois. Once powered by steel mills, auto plants and thriving factory towns, the region began sliding into decline from the 1970s as industries moved overseas and manufacturing jobs disappeared. Shuttered factories and struggling communities eventually turned the Rust Belt into a symbol of American economic anxiety and political discontent. 

In an appearance on the independent YouTube programme Breaking Points, Pape described what he recently witnessed in China. 

“The robotics assembly lines? You cannot even find them on Google. They are not out there bragging or talking smack like we do. They are staying under the radar and eating our lunch.” 

• Habhajan Singh is the corporate editor of The Malaysian Reserve.

• This article first appeared in The Malaysian Reserve weekly print edition

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IN A world that often speaks of justice and human rights, Palestine remains one of the clearest litmus tests of international moral consistency. More than seven decades on, the crisis continues without a meaningful political resolution. 

Renewed attention surrounding humanitarian flotillas comes amid growing international scrutiny over humanitarian access to Gaza, increasing criticism of diplomatic paralysis and widening public frustration over the limited effectiveness of international institutions. The movement reflects a broader pattern of citizen-led mobilisation emerging in response to diplomatic stagnation and growing scepticism towards international institutions. 

Universiti Sains Malaysia (USM) political analyst Prof Dr Sivamurugan Pandian said the Global Sumud Flotilla (GSF) reflects the persistence of the Palestine issue as a moral and political fault line in international relations. 

“It signals frustration with diplomatic stalemate and highlights how non-state actors are stepping in to challenge perceived inaction by governments and institutions,” he said. 

Public pressure has long influenced the political environment surrounding foreign policy. During the Vietnam War, anti-war protests in the US gained national promi- nence from 1965, spreading across campuses, civic groups, churches, civil rights organisations, and veteran networks. 

Viewed through this lens, GSF should be understood not only as a humanitarian mission, but also as part of a wider pattern of citizen-led mobilisation emerging during periods of diplomatic fatigue. Its significance lies in sustaining international attention on Palestine at a time when many view formal diplomatic responses as increasingly limited. 

Sivamurugan observed that civil society initiatives such as GSF play an increasingly important role in shaping narratives around global humanitarian crises. Such movements, he noted, help humanise the conflict, expand international visibility and mobilise advocacy networks across borders. 

The shift is particularly significant in today’s media environment, where public perception is no longer shaped by official diplomatic channels or state narratives. Digital platforms, citizen mobilisation and transnational solidarity networks now play a central role in how global crises are understood, debated and responded to by the international community. 

In light of this, support for Palestine has increasingly moved beyond political blocs, religious identity and geography. It now involves people from different backgrounds, generations and cultures. This growing grassroots support reflects a shift towards more decentralised and citizen-driven movements. 

This widening role of citizen-led movements also reflects a deeper concern about the state of global governance itself. Former Foreign Minister and former humanitarian special envoy Tan Sri Dr Syed Hamid Albar observed that humanitarian movements such as GSF have become increasingly important at a time when many governments appear less accountable and less responsive to questions of justice, humanity and international law. 

In this environment, he stressed that humanitarian organisations and civil society platforms must become more assertive to ensure that humanitarian crises such as Palestine are not forgotten or normalised through silence. 

“Humanitarian organisations are important because, without sustained humanitarian pressure, the cause risks fading from international attention. We must write a new narrative in order to be heard.” 

GSF has also moved beyond the conventional form of protest. Apart from the flotilla itself, its wider ecosystem includes parliamentary engagement, public advocacy, legal discourse, media mobilisation and international civil society coordination. 

The Global Sumud Parliamentary Congress in Brussels, held on April 22, 2026, positioned the movement within a broader political framework by drawing attention to humanitarian access, international law and parliamentary pressure. Its stated aim included support for a United Nations (UN)-verified humanitarian maritime corridor to Gaza. 

GSF 2.0 increasingly reflects a layered movement involving maritime mobilisation, parliamentary engagement, legal advocacy, media visibility and transnational solidarity networks. This makes the movement more strategic than a single protest event. 

UN Special Rapporteur Francesca Albanese has been repeatedly cited in relation to the flotilla because of her emphasis on international law, humanitarian accountability and the need for governments to act consistently on Gaza. 

“Digital connectivity and generational change are reshaping how global justice issues gain attention and momentum. GSF is part of this wider shift. It is not a centralised institution, but it has become a recognisable platform for people who want to translate concern into action.” 

Sivamurugan also stressed the importance of credible voices in strengthening public understanding, particularly in an environment where information moves rapidly and perception can easily overtake facts. 

“Credible voices help ground the discourse. They provide context, evidence and critical analysis, moving the conversation beyond slogans towards a more informed and balanced understanding,” he added. 

Viewed more broadly, GSF should not be seen merely as a symbolic act. Its wider value lies in the pressure it creates, the debate it opens and the moral question it places before governments and institutions. 

GSF is less about the boats and more about the message. When institutions stall, people move and the demand for justice does not wait. In a world increasingly accustomed to international inaction, that message deserves serious attention. 

The continued visibility of movements such as GSF reflects a broader reality: Public mobilisation increasingly fills spaces where formal diplomacy is perceived to be ineffective. 

• Marina Sulaiman,Global Sumud Flotilla Media and Communications Team.

• This article first appeared in The Malaysian Reserve weekly print edition

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PRIME Minister (PM) Datuk Seri Anwar Ibrahim’s recent statement that Pakatan Harapan (PH) is prepared to contest head-to-head nationwide should Barisan Nasional (BN) choose to move independently in the Johor state election signals more than ordinary coalition bargaining. It reflects a deeper recalibration within the Madani Unity Government, where political cooperation is increasingly shaped not only by electoral arithmetic, but by questions of long-term survival, leadership leverage and institutional credibility.

At the centre of this emerging tension lies UMNO’s renewed “solo campaign” narrative following its 80th anniversary celebrations in May 2026. The rhetoric is politically understandable. UMNO’s leadership, particularly under Datuk Seri Dr Ahmad Zahid Hamidi, faces growing pressure from internal factions demanding stronger party identity after years of coalition compromise. The argument from these factions is familiar: UMNO risks losing its traditional base if it continues to be perceived merely as a junior stabilising component within the Madani framework rather than an independent Malay political force.

Yet political symbolism and electoral mathematics are not always aligned. Johor remains strategically significant precisely because it is one of the few states where UMNO still retains meaningful structural strength, organisational machinery and historical loyalty. A direct PH-BN confrontation there would therefore become a national stress test for the entire Madani coalition model. The question is not whether PH can survive independently, but whether both coalitions can afford fragmentation while Perikatan Nasional (PN) remains electorally relevant despite its internal weaknesses.

Anwar’s statement should therefore be understood less as confrontation and more as strategic signalling. PH cannot appear politically dependent on BN indefinitely without weakening its own bargaining position. At the same time, Ahmad Zahid cannot entirely suppress UMNO’s grassroots demand for renewed autonomy without risking internal destabilisation. Both leaders are managing competing pressures: One seeks coalition continuity, while the other must preserve party relevance.

The broader political environment complicates matters further. PN is no longer operating from a position of unified momentum. Tensions between PAS and Parti Pribumi Bersatu Malaysia are becoming increasingly visible, particularly regarding leadership direction, electoral strategy and succession calculations. PAS continues to command ideological discipline and grassroots mobilisation, but Bersatu faces lingering questions surrounding organisational cohesion and long-term strategic identity. The relationship increasingly resembles a coalition of necessity rather than strategic harmony.

This creates a potential opening for Madani. If PN remains fragmented while PH and BN maintain at least functional coordination, the probability of an early state election or even a broader general election (GE) scenario becomes more conceivable. From a strategic standpoint, governments traditionally prefer elections when opponents appear divided rather than consolidated. Political history rarely rewards hesitation when the opposition is internally distracted.

However, the risks are equally substantial. Malay-Muslim voter sentiment remains fluid and cannot be reduced to simplistic assumptions about communal alignment. Economic pressure, subsidy concerns, cost-of-living anxieties and perceptions of governance credibility continue to shape voter behaviour more than rhetoric alone. Any perception that coalition disputes are driven purely by power calculations rather than policy direction could weaken public confidence across all sides.

Johor would likely become the symbolic battlefield, but the implications would extend beyond one state. Negri Sembilan, with its more mixed political balance, could become highly sensitive to shifts in Malay middle-ground sentiment. Penang remains structurally favourable to PH, though turnout dynamics and urban economic pressures remain relevant. Pahang presents a more delicate terrain where BN’s organisational machinery still matters significantly. In each case, a nationwide direct-contest strategy would force parties to redefine not only alliances, but political identities.

From an economic perspective, investors are unlikely to react negatively to elections themselves. Markets are generally capable of absorbing democratic contestation. What investors dislike is prolonged uncertainty, unstable coalitions and inconsistent policy direction. A clear electoral mandate, even following aggressive political competition, may ultimately be viewed more positively than a coalition paralysed by unresolved tensions.

This explains why Anwar’s positioning carries both political and economic logic. By signalling readiness for direct contests, he projects confidence while also pressuring coalition partners to clarify their long-term intentions. Simultaneously, Ahmad Zahid’s calibrated “solo” messaging allows UMNO to reassure its grassroots without necessarily collapsing coalition cooperation entirely.

The decisive variable, however, remains execution rather than rhetoric. If Madani can maintain policy continuity, manage coalition disagreements pragmatically, and capitalise on PN’s internal fractures, the coalition may emerge stronger from controlled electoral competition. If factionalism escalates beyond strategic management, however, fragmentation could benefit only the opposition.

Ultimately, Malaysia’s next political phase will not be determined solely by slogans about unity or independence. It will be shaped by whether political actors can balance ambition with discipline, coalition survival with party identity and electoral strategy with economic stability. In that balance lies the real test of Malaysia’s political maturity heading toward the next electoral cycle.

• Azam Datuk Mohd, Kuala Lumpur.

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