UMNO

My Way, Jamal Way or Milo Tin Way – Options for UMNO Youth leader and UMNO-PAS unity beyond politics

RM300,000 – that is the amount UMNO Youth chief Datuk Dr Akmal Saleh lost in a defamation suit filed by Seputeh MP Teresa Kok over allegation that the former made against the latter regarding halal certification.

Melaka High Court awarded RM250,000 in damages and RM50,000 in legal costs. In addition, the court instructed Akmal to remove the defamatory remarks from all of his social media platforms.

In September 2024, Akmal made some remarks after Kok questioned a proposal to make halal certification compulsory for restaurants and businesses that did not serve pork and alcohol.

She pointed out that it could burden businesses, especially the small ones. Akmal called her an “old nyonya” and suggested a “non-halal” label be placed on her forehead.

Would Akmal now go the Jamal Way or opt for the popular Milo tin to settle the payment?

Or does he have enough to pull it like Frank Sinatra’s classic by claiming “I did it my way”?

Sinatra’s song is entitled My Way. Co-incidentally this song was also closely associated to former UMNO president and ex premier Tun Dr Mahathir Mohamad during his 22-year-long administration.

The Jamal Way

The Jamal Way is in reference to another UMNO leader – Sungai Besar division chief Datuk Seri Jamal Md Yunos who co-incidentally lost a defamation suit to Kok as well.

He lost a suit and was ordered RM300,000 over a speech in 2017 where he implicated Kok over alleged misuse of Yayasan Warisan Anak Selangor (Yawas) funds.

He lost the case in 2022 and was unable to settle an outstanding amount of RM66,00 until this year.

Prior to that, 14 assets belonging to Jamal Md Yunos were confiscated from his Ampang Jaya residence in Jan 2026.

An asset auction was put on hold in June this year after he settled the amount.

Milo tin method

The Milo tin method is a method popularised by PAS. The Islamist party distributes their Milo tins around during ceramahs to collect funds in their bid to settle defamation suits.

Several past and present PAS leaders have used this method successfully when they lose defamation suits.

Kepala Batas MP Dr Siti Mastura Muhammad lost a defamation suit to DAP veteran Lim Kit Siang, party advisor Lim Guan Eng and Kok in Apr 2026.

She had to pay a lofty RM750,000 for claiming that the DAP trio were related to the former Communist Party of Malaya secretary-general, Chin Peng.

Umno-Pas united in more than political collaboration

In the event Akmal fails to pay up, he may be declared a bankrupt. That would bar him from contesting the Melaka election scheduled for Nov 14 this year.

In an odd way, Akmal’s defamation loss mirrors PAS too.

Ironically, both UMNO and PAS have combined forces to win the state election in Negeri Sembilan and are forging their alliance in the Melaka state polls. - By Pragalath K

Zetrix

Zetrix’s RM314mil arrears since May this year, not 2023, says Loke

PUTRAJAYA: The RM314 million in arrears that Zetrix AI Bhd owes the road transport department (JPJ) involves fees and summonses that the MYEG Group subsidiary collected since May this year, not May 2023, says transport minister Loke Siew Fook.

Loke said his ministry and JPJ had taken steps to regain the collections, including holding four engagements with stakeholders since May, including the finance ministry.

He also said the company previously known as MyEG Sdn Bhd had been issued 35 notices to transfer the amount.

“On Aug 21, the company submitted a cheque dated Sept 30 worth RM231 million. However, when the cheque was credited on Sept 30, the bank said it could not process it on the company’s orders,” he said at a press conference here.

Loke also sidestepped queries on reports that Zetrix had ties to Umno, quipping that he could only confirm that DAP had no links to the firm.

“You have to ask (Umno) about that. One thing I’m sure of is that the company has no ties with my party,” the DAP secretary-general said. “But what party it’s linked to is not among my considerations.”

Loke said that his ministry and JPJ would set a deadline for the arrears to be settled and take appropriate steps to recover the funds.

He also said the government would consider lifting the suspension of Zetrix’s services once the debts have been cleared.

JPJ suspended the firm’s services effective today, partly due to its unfulfilled obligations.

Loke said JPJ’s services, via the department’s official and alternative channels, remained unaffected. - FMT 5 October 2026

PKR Bersatu

Anwar–Muhyiddin partnership touted as solution to Malaysia’s racial politics ahead of Melaka PRN

A PROPOSED political pairing between PKR President Datuk Seri Anwar Ibrahim and Bersatu President Tan Sri Muhyiddin Yassin is being touted as a key solution to racial division in Malaysia.

Sinar Harian reported that academic Misrinah Misban of Universiti Utara Malaysia believes combining the two leaders would build public trust by guaranteeing the protection of Malay rights while ensuring Chinese and Indian communities remain protected under Pakatan Harapan (PH).

The partnership is also expected to resonate in Sabah and Sarawak because of its non-racial focus.

Former Amanah vice-president Datuk Husam Musa previously endorsed this combination to facilitate a smooth power transition for top government posts.

On the other hand, in parallel developments ahead of the Melaka state election (PRN), political analyst Assoc Prof Dr Mashitah Mohd Udin highlighted that Bersatu must form alliances rather than contest solo.

Based on performance in previous state elections, Bersatu faces strategic pressure to negotiate – potentially with PH – to prevent multi-cornered fights, consolidate resources, and optimise seat distribution.

While political realignments remain fluid, analysts note that any potential PH-Bersatu alliance must carefully weigh supporters’ acceptance and party identity against political costs.

She also said the likelihood of the party led by Tan Sri Muhyiddin Yassin contesting solo does not appear to be a viable option at this time.

“The experience from those two state elections (Johor and Negeri Sembilan) is indeed relevant to be used for strategic assessment. Bersatu’s own leadership has stated that the outcome will be closely scrutinised through a party post-mortem.

“In Negeri Sembilan, Bersatu contested using its own logo, and the official results showed Perikatan Nasional securing seven out of 36 state legislative assembly seats, while Barisan Nasional won 18 and PH won 11,” Sinar Harian quoted her as saying. —  FocusM Oct 3, 2026

Nik Elin

“I’m perceived an enemy of Islam because I love my faith deeply, eager to protect it from abusers”

THEY call me an enemy of Islam. They think “Nik Elin” is a dangerous, secular liberal lawyer on a personal mission to destroy the religion.

Let me tell you the absolute truth: that is the most painful, inaccurate label anyone could ever put on my name.

Anyone who truly knows me knows my real character. I am a happy go lucky, fun person. Yes, I am stubborn and I speak my mind plainly. Perhaps that raw honesty works to my detriment at times. But I am absolutely not anti-Islam.

On the contrary, I love my faith deeply and my true purpose is to protect and defend it. I want to protect Islam from the very people who use and abuse Islam to attain total control and power over us.

I want to defend it from those who weaponise the religion to secure power and force others into absolute submission. In reality, it is these extreme actors who are sabotaging the genuine beauty and intellectual depth of Islam.

Luckily, we still have our Federal Constitution to protect us. But now they are threatening to take that protection away from us and rule us by terror and fear. They want to amend the constitution and take away the very fabric of human rights.

‘Don’t be fearful of Nik Elin, the lawyer’

If you love Islam, stand with me. Be the voice of progressive change so that our faith is never defined by fear, intimidation, or extremism. Islam is peace. Islam is entirely about love, mercy and compassion. It is about peaceful coexistence and universal justice.

I am simply a Muslim who wants a stable future where our faith inspires rather than strikes fear. Forced belief is a complete contradiction, it is a fundamental oxymoron.

By creating rigid modern laws that never even existed during the time of our beloved Prophet, we are acting lebih kuah dari sudu (an equivalent of “more Catholic than the Pope).

We cannot tolerate legal frameworks that completely criminalise critical thinking. Differences of opinion should be celebrated as a divine blessing, not punished.

Look at the moral decay in our society right now. Why is this happening? Because of the intense systemic pressure to conform to only one narrow, rigid version of Islam.

Our faith explicitly demands that we think for ourselves. In Quran Surah Al Anam 6:116, Allah warns us not to blindly follow the masses because the majority can lead you astray from the true path.

I dream of a future where Islam does not need to be forced upon us by state legislation but lives naturally within our hearts.

My life motto is anchored in Quran Surah An Nisaa 4:135 which commands us to stand up firmly for justice as witnesses to Allah even if it goes against ourselves, our parents or our closest kin.

So please, stop being afraid of Nik Elin, the lawyer. We should only fear Allah.

I invite all of you to look past the political noise and return to the true, beautiful way of Allah. Let us be guided by the divine wisdom found in Quran Surah An Nahl 16:125:

Invite to the way of your Lord with wisdom and good instruction and argue with them in a way that is best.

If you believe in an Islam rooted in wisdom, compassion and true justice, I invite you to join me and be a voice for that change. – Focus M Oct 1, 2026

Kelantan-born Nik Elin Zurina Nik Abdul Rashid is a Malaysian lawyer who made headlines for successfully challenging the constitutionality of several state-level Syariah criminal provisions in Kelantan.

Alongside her daughter Tengku Yasmin Nastasha Tengku Abdul Rahman, she filed a legal challenge at the Federal Court of Malaysia in May 2022 against the Kelantan Syariah Criminal Code (I) Enactment 2019.

The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia.

https://secangkuk.blogspot.com/p/pov-october-2026.html

N9

 

The anarchy, chaos whirlwind in N9 amid prolonged succession dispute, constitutional crisis

WHAT did Tuanku Muhriz Tuanku Munawir actually do that led to UMNO bringing anarchy to Negeri Sembilan (N9) in trying to remove him as the ruler of the state?

For 18 years, he has been the N9 Yang di-Pertuan Besar and nobody has heard a whiff of a scandal about him.

He doesn’t beat up caddies with golf clubs; his children don’t go around beating people or shouting about how great and rich they are; the palace in Seri Menanti is not turned into a casino for his birthday; neither he nor his family are seen partying with the Tatler crowd.

No, he has been as proper a constitutional monarch as could be.

So these chieftains who started this move to oust him on April 19 say he has committed grave offences according to their 200-year-old adat (customs). What offences?

Until today, they have not defined these offences and neither have they followed due process.

Egged on by a political courtesan who poses as an expert on this adat and who has betrayed every political leader who helped him, these chieftains – most of whom would never have succeeded in a competitive arena nor have been able to hold court intellectually even at the district level – brazenly committed treason as defined by this same adat they claim to uphold.

Now, here comes the question that people ask about this unprecedented move in Malaysian history: why are these people so emboldened?

Unpopular hard anti-graft stance

Who is providing them with air cover?

Is it Tunku Nadzaruddin Tuanku Ja’afar whose father was ruler of N9 for 41 years before Tuanku Muhriz? This is the man so desperately pushing himself and being pushed by these chieftains to replace Tuanku Muhriz. Very unlikely. He doesn’t have that gravitas nor conviction or guts.

Is it Datuk Seri Ahmad Zahid Hamidi, the UMNO president and the Deputy Prime Minister (DPM) who is disloyal to his boss and PM Datuk Seri Anwar Ibrahim? Not likely either because wily as he is, there are limits to his intellect and certainly, he lacks the integrity to provide that kind of protection.

Or was it PMX himself who has allowed the situation in N9 to deteriorate to what it is today by his indecisiveness, his political dishonesty and his activity? No. Definitely not.

Because the Anwar I know, the Anwar I have seen over more than four decades, is driven by  politics and will only do what is advantageous to him. Anarchy and instability in N9 are not to his advantage.

So what did Tuanku Muhriz actually do to get someone so powerful that the chieftains, Tunku Nadzaruddin and Tan Sri Rais Yatim feel they are untouchable?

Why haven’t the police questioned anyone for sedition or treason?

Why haven’t they recorded a statement from that poor excuse for a man, Menteri Besar Datuk Seri Ismail Lassim, who betrayed his sovereign exactly one day after pledging loyalty to him, swearing upon a Quran and who has changed his version of events multiple times in the last three weeks? This easily frightened, weak, cowardly man who is leading N9 for UMNO.

One thing I do know, though. When the Conference of Rulers was discussing the appointment of the Chief Justice to replace the highly respected Tun Maimun Tuan Mat, there were suggestions that newly appointed Federal Court judge Tan Sri Ahmad Terriruddin Mohd Salleh be given the job.

Tuanku Muhriz who was very vocal in his opposition to this stated that the appointment should be decided by the Judicial Appointments Commission (JAC) whose job was to select suitably qualified persons who merit appointment as judges of the superior court for the PM’s consideration.

As far as he was concerned, it was not for the rulers to decide. Hence, through the process, Tun Wan Farid Wan Salleh was chosen and subsequently appointed as Chief Justice.

Subsequently, when there was a lot of chatter last year about granting a pardon or partial pardon to convicted former premier Datuk Seri Najib Razak, Tuanku Muhriz was again very vocal against it.

In his birthday speech in January this year, he voiced deep concern over the growing prevalence of corruption in Malaysia and expressed disappointment at those who continue to support individuals convicted of graft.

He warned that corruption is the foremost enemy of justice, trust and the nation’s future.

The ruler expressed shocked and was disheartened that some people still rally behind individuals found guilty of serious corruption offences as if such acts were acceptable or forgivable.

“Such attitudes reflect not only a failure to grasp the destructive impact of corruption on institutional integrity and society’s moral foundations but also call for serious reflection on one’s faith, principles, and values.”

Tuanku Muhriz’s stance on these issues was not popular – especially with UMNO – which had been in the forefront pushing for Najib’s release.

And, perhaps unwittingly, Tuanku Muhriz may have ruffled a couple of other feathers – more powerful than him – with his vociferous expressions on such issues.

There was no mistaking who he was referring to in his speech. It was the former premier.

I have no doubts that if Tun Dr Mahathir Mohamad was the PM, things would never have been allowed to get so bad. Likewise with his successor, the late Tun Abdullah Badawi – gentle, soft but diplomatic in solving problems.

Those, my dear Datuk Seri Ismail Lassim, were men of honour. Not you, not your leaders of today.

So here we are today – on the cusp of a total breakdown in law and order – with politicians and chieftains of boisterous bluster running wild, with neither care nor fear for all the rules and laws they break.

Truly, God save Malaysia, for these mortals that lead us cannot. –  FocusM Sept 23, 2026

Datuk Seri Kalimullah Hassan Masheerul Hassan is the ECM-LIBRA Kuala Lumpur executive chairman and a former group editorin-chief of mainstream daily New Straits Times.

The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia.

O&G

Saudis tell Asian refiners they can soon pick up oil from Yanbu

Bloomberg (Sept 22): Several Asian refiners have been told informally by Saudi Aramco they will soon be able to pick up oil from the Red Sea port of Yanbu, according to traders familiar with the matter.

At least three fuel processors have been given informal assurances about the loadings from executives at the state-run company, rather than official notices, the traders said, asking not to be named as they are not authorised to speak to media. No timelines were given, they said.

Loadings from Yanbu have been all-but-halted since the East-West pipeline, which was carrying about four million barrels of oil a day to the port, was closed after being attacked by drones launched from Iraq on Sept 10. Saudi Arabia was seeking to return about half the capacity within days, a person familiar told Bloomberg late last week, although there have been no recent updates from Aramco.

Saudi Aramco declined to comment.

Some of the Asian refiners contacted by Aramco have already missed their scheduled loading dates at Yanbu due to the closure of the pipeline and have vessels in waters near the port or are heading there, the traders said.

Since the pipeline was attacked, the Saudis have increased exports to Asia from Ras Tanura in the Persian Gulf. This crude can be picked up via ship-to-ship transfers in the Gulf of Oman after it has traversed the contested Strait of Hormuz.

European, rather than Asian, customers have been most affected by the lack of activity at Yanbu. Aramco told at least two European refiners last week that they would be allocated no oil under long-term agreements in October due to the attacks on the pipeline and that the decision applied to all of the continent’s buyers.

100kg

People who get married in Bemban, Malacca can now enjoy 100kg of rice

COUPLES getting married in the Bemban State Assembly constituency can look forward to receiving 100 kg of rice to help with their wedding celebrations.

The initiative, started by 35-year-old Muhammad Jefri Safry, has been running for about a year and is funded entirely by him.

Jefri said couples who invite him to their wedding by giving him an invitation card will receive the rice contribution, regardless of their political affiliation.

He stressed that the assistance was meant for the wider Bemban community and was not influenced by political allegiances.

“So far, I have distributed 6,000kg of rice to couples holding their wedding receptions within the constituency,” he said.

“It does not matter who they are or which political flag they support. As long as they are members of the Bemban community, I will try to help within my means,” Jefri added.

Jefri said he was not receiving financial assistance from any organisation or individual for the initiative, with the cost of the rice coming directly from his own funds.

For him, receiving a wedding invitation was itself a gesture of trust and respect, while the rice was his way of contributing towards the couple’s big day.

He said weddings could involve considerable expenses, particularly when families have to prepare food for a large number of guests.

“With the various costs involved in organising a wedding, I hope this contribution can help ease some of the financial burden on the families, particularly when it comes to preparing food for the reception,” he said.

“While 100kg of rice may not seem like a huge amount, I hope it can still contribute towards feeding the guests who attend the wedding,” Jefri said.— FocusM Sept 21, 2026

Oil Prices

Current oil prices will hurt Malaysia’s economic growth even as consumers stay unscathed — RAM Ratings

KUALA LUMPUR (Sept 14): Current elevated oil prices will hurt Malaysia’s economic growth even as consumers are spared the brunt of the shock, a rating agency cautioned on Monday.  

If global crude oil prices per barrel stay elevated at around US$100-US$120, Malaysia’s gross domestic product growth could potentially be reduced by up to 0.5 percentage-point on an annualised basis, RAM Ratings said in a statement.

While fuel subsidies help shield consumers from direct impact, “greater cost pressures may ultimately feed into broader consumer prices and potentially weigh on domestic consumption momentum”, the agency flagged.

The statement comes as oil prices jumped more than 3% amid supply concerns as conflict reignited in the Middle East and a key Saudi oil pipeline was shut. Brent, the global benchmark for crude oil, hit US$108 per barrel while West Texas Intermediate futures climbed to US$103 a barrel.

While Malaysia is a net energy exporter, the country relies heavily on Middle East that accounted for more than two-thirds of the crude oil imports in 2025. The Strait of Hormuz, a key checkpoint through which around 20% of the global oil supply flows, remained largely closed.

Malaysian refineries, which largely depend on imported heavier sour crude oil instead of the light sweet variant that Malaysia produces as their feedstock, could see their operations constrained by any supply disruption, RAM Ratings flagged.

“While Malaysia possesses several buffers that mitigate its direct exposure to the conflict, the economy remains vulnerable to the indirect effects of sustained higher oil prices through rising production costs, inflationary pressures and weaker domestic demand,” the agency added. - theedgemalaysia, 14 September 2026

OpenAI

OpenAI’s Altman voices support for ‘pacing’ AI development

SAN FRANCISCO: OpenAI CEO Sam Altman on Sunday added his support to the idea of “pacing” AI development, so that cutting-edge models don’t outrun the ability of humans to maintain control.

Altman, echoing the language of Anthropic CEO Dario Amodei, said there’ll be a cost to this shift of focus to safety, but it’ll be worth it in order to maintain confidence that US companies are developing increasingly capable artificial intelligence responsibly.

“No amount of American competitive pressure should justify recklessness, or let capabilities get ahead of alignment and monitoring,” the OpenAI chief said in a post on X, emphasising also that the idea of ensuring safety doesn’t mean halting progress. “When we talk about ‘pacing’, we do not mean ‘stopping’.”

The comments come shortly after Amodei and SpaceXAI boss Elon Musk, in a rare moment of unity, called for tapping the breaks on AI development. Altman earlier this month told OpenAI staff that the startup is open to slowing advances in frontier technology to better understand the risks, and he has also confirmed that the company won’t go public in 2026 while prioritizing safety-related concerns.

AI-related stocks in Asia fell on Monday. Major OpenAI investor SoftBank Group Corp’s shares dropped 13% in Tokyo, while South Korea’s Samsung Electronics and SK Hynix both shed more than 4% in Seoul.

In his Sunday post on X, Altman reiterated OpenAI’s support for a federal AI framework, and said that AI firms need Washington’s help with international coordination, amid widespread concerns that even if US AI firms slow down their development, Chinese rivals will not do so. - Bloomberg 14 September 2026

Zetrik

TS Wong-linked companies see shareholding, boardroom changes amid Zetrix AI forced selling

KUALA LUMPUR (Sept 7): Several shareholding and boardroom changes were announced on Monday involving companies linked to businessman Wong Thean Soon, better known as TS Wong, against the backdrop of a forced sell-down in Zetrix AI Bhd (KL:ZETRIX) last week.

At Cuscapi Bhd (KL:CUSCAPI), its second- and third-largest shareholders, Datin Seri Lee Lan Moi and Jessie Lim Me Xian respectively, ceased to be substantial shareholders following off-market disposals on Sept 3.

Lee disposed of 67.5 million shares, worth an estimated RM3.38 million based on Cuscapi's five sen closing price last Thursday. Her stake was reduced to 0.61% from 7.75%.

Lim, meanwhile, sold 58.5 million shares, estimated to be worth RM2.93 million, reducing her stake to 1.03% from 7.22%.

The shareholding changes came after Cuscapi's board was reshuffled last week, with accountant Teo Beng Wei, 47, appointed executive director on Sept 4.

Teo was also appointed independent non-executive director of Excel Force MSC Bhd (KL:EFORCE) on Sept 4, where Wong is the largest shareholder. On the same day, Goh Jooi Shen, 35, was appointed an executive director of Excel Force.

On Sept 3, Teo was appointed independent non-executive director of industrial paint manufacturer and trader Sersol Bhd (KL:SERSOL). Goh was also appointed independent non-executive director of Sersol on the same day.

Meanwhile, Taiwanese national Wang Kuen-Chung, also known as Jeff Wang, emerged as a substantial shareholder of Excel Force on Sept 1 after acquiring 73.3 million shares from the open market. His stake in the company rose to 13.005%.

Wong owns a 24.322% direct stake and a 6.772% indirect stake in Excel Force.

Wong remains Cuscapi's largest substantial shareholder, with a 25.1% direct interest comprising 237.45 million shares, alongside a 2.937% indirect stake.

Over at HeiTech Padu Bhd the company announced that deputy chairman and executive director Datuk Sandraruben Neelamagham had purchased 2.12 million shares in the company via the open market, giving him a 1.305% interest in the HeiTech Padu.

Datuk Mohd Jimmy Wong Abdullah, 64, resigned as a non-independent non-executive director on Sept 4, citing personal reasons.

Jimmy Wong joined HeiTech Padu's board on April 3, 2024 and also served on its integrity and whistleblowing board committee. He previously served as Cuscapi's chairman in 2018, but resigned less than two months after his appointment.

Separately, Wong ceased to be a substantial shareholder of HeiTech Padu on Sept 4 after MY EG Capital Sdn Bhd disposed of a 16.9% stake, equivalent to 27.5 million shares via a direct business deal. He was deemed interested in the stake by virtue of his substantial interest in Zetrix AI Bhd. 

He now retains a direct stake of 0.97%.

At the time of writing, the buyer of the block of shares was not disclosed.

The forced sell-down of Zetrix AI shares last week saw Wong offload more than 12% of his equity in the digital services company in just over a week.

It reduced Wong's total holding to 17.298% — comprising an 8.402% direct stake and an 8.896% indirect stake — from 29.49%, comprising a 15.19% direct stake and a 14.30% indirect stake.

At Monday's close, Cuscapi was flat at 4.5 sen, valuing the company at RM42.5 million. HeiTech Padu rose 6.1% to RM1.05 for a market value of RM171.1 million, while Excel Force MSC jumped nearly 22% to 19.5 sen, valuing it at RM118.9 million. - theedgemalaysia 7 Sept 2026

 

ZETRIK

How Zetrix bet on its future and lost two-thirds of its value

KUALA LUMPUR: Zetrix AI Bhd's bet on its own shares seems to have been a bad call for the artificial intelligence and blockchain company after its share price slumped nearly 67 per cent in just four trading days.

The slump, equivalent to RM3.55 billion in market value being wiped out between Aug 27 and Sept 2, came after Zetrix had been buying back its shares on the open market between January and August.

Zetrix purchased about 123.29 million shares during the eight months — including 32.46 million in July and August alone — for a total cash outlay of about RM94.2 million.

While a share buyback can signal a company's confidence in its own prospects and may be intended to increase shareholder returns, the margin call and forced selling involving shares held by its managing director and single-largest shareholder Wong Thean Soon reversed that trajectory.

On Aug 28, just two days after Zetrix made its last share buyback of 933,300 shares at 66.5 sen apiece, Wong disposed of 99.8 million shares at 29.9 sen apiece, at a time when the counter had traded around 60 sen earlier in the day.

He also offloaded two blocks of shares through his private vehicle Asia Internet Holdings Sdn Bhd on Aug 27 and 28. Some 4.29 million shares were disposed of on Aug 27 at 60.6 sen apiece, followed by another 52.3 million shares on Aug 28 at 48 sen apiece.

Over the two trading days, Wong and Asia Internet disposed of a total of RM57.5 million worth of shares as the stock tumbled.

However, it is unclear whether the disposals were part of the forced sale involving Wong's shares.

During an emergency conference call with analysts and investors, Wong acknowledged the margin pressure, saying he needed time to resolve the forced sales involving his accounts.

While Wong faced margin calls on his accounts, Zetrix is potentially sitting on millions of ringgit in paper losses on the shares it had repurchased so far this year. Zetrix's share price had not fallen below 60 sen before Aug 27.

The Main Market technology counter began 2026 at 81 sen and rose to a year-high of 89.5 sen on April 21, before gradually declining to trade between 68.5 sen and 79 sen in July.

When the company made its last purchase before the rout, Zetrix paid 66.5 sen apiece. The stock closed at 66 sen that day before falling 6.5 sen, or 9.85 per cent, to 59.5 sen on Aug 27.

VALUATION GAP WIDENS

Zetrix was already trading well below its historical valuation before the sell-off.

Based on its Aug 26 closing price of 66 sen, the stock's trailing price-to-earnings (P/E) ratio stood at 5.3 times, a 62 per cent discount to its five-year average of 14 times, MyBursa data showed.

The P/E ratio measures how much investors are paying for each ringgit of a company's earnings. Zetrix's forward P/E of 4.7 times was also 65 per cent below its five-year average of 13.5 times.

The subsequent share-price collapse pushed that discount substantially wider.

By Aug 31, Zetrix's trailing P/E stood at 2.2 times, an 84 per cent discount to its five-year average of 13.9 times, while its forward P/E of 2.1 times was also 84 per cent below its five-year average of 13.4 times.

FROM 'BUY' CALL TO CUT-LOSS

Earlier in the month, when Zetrix closed one sen, or 1.42 per cent, higher at 71.5 sen on Aug 11, Rakuten Trade Sdn Bhd issued a short-term "Buy" call on the stock.

It recommended an entry price of between 72 sen and 75 sen and set a target of 80.5 sen, saying early recovery signs were emerging at the time and the earlier downtrend appeared to be easing.

Its cut-loss level was set at 68 sen. By Aug 26, the stock had already fallen below that level, closing at 66 sen. Four trading sessions later, it was worth 22 sen — a decline of 44 sen, or 66.67 per cent.

Heavy selling in Zetrix shares came amid speculation linking the company to former human resources minister Datuk Seri M Saravanan, who was charged on Aug 28 with three counts of corruption involving RM1.097 million.

Zetrix categorically denied being implicated in or associated in any way with Saravanan in relation to the charges.

In its response to Bursa's UMA query, the company said it understood that what it described as "unfounded rumours or speculation" linking it to Saravanan may have contributed to the unusual trading activity.

It said enquiries with its directors, major shareholders and other relevant parties had not uncovered any undisclosed corporate development, including negotiations or discussions, that could account for the trading activity.

At the time of writing on Sept 3, Zetrix was the most actively traded stock as it entered its fifth straight day of decline, falling another 1.5 sen, or 6.82 per cent, to a multi-year low of 20.5 sen, with more than 209 million shares changing hands.

At that price, Zetrix had a market capitalisation of about RM1.65 billion, compared with roughly RM6.53 billion at 81 sen at the start of the year — a 74.7 per cent loss in market value. - NST 4 September 2026

NextG

NexG welcomes govt decision not to acquire Datasonic

KUALA LUMPUR: NexG Bhd has welcomed the government’s decision not to acquire its subsidiary, Datasonic Technologies Sdn Bhd (DTSB), after being asked to submit an indicative price for a possible acquisition of the company.

DTSB is the provider of MyKads and has been the vendor of Malaysian passports compliant with International Civil Aviation Organisation standards since 2012.

It is also set to produce the new MyKad MyTentera and MyPOCA, with supply commitments extending over several years.

After the public-listed company suggested an indicative price of RM7.5 billion based on its internal assessment, the National Security Council (MKN) said yesterday the government was in no position to take over DTSB, but remained committed to ensuring that all parties involved continue to provide secure and trusted services to the people.

In a statement today, NexG thanked the government for its confidence in DTSB’s continued ability to supply Malaysia’s high-security identity cards without compromising security.

The company said its long-standing track record, supported by experienced local talent and in-house capabilities, demonstrated its ability to continuously deliver identity cards securely and reliably.

“DTSB remains fully committed to upholding the highest standards of security, integrity and reliability, as it has successfully done for the past 27 years,” it said.

“NexG will continue to safeguard the security and sovereignty of Malaysia’s identity cards without compromise, while working closely with relevant government agencies to continuously enhance their security features and ensure Malaysians’ identities remain safe and protected.” - BERNAMA  23 August 2026

2027 Budget

2027 budget to include initiatives to reduce M40’s burdens

PUTRAJAYA: The government’s annual budget for next year will include initiatives aimed at reducing the burdens of those in the middle income or M40 group, says Prime Minister Anwar Ibrahim.

“We have a list of items that we have prioritised to reduce the burdens of the M40,” he told reporters after an engagement for the 2027 federal budget at the finance ministry’s headquarters here.

The government maintained targeted electricity and fuel subsidies in the 2026 budget, which the Treasury said benefits the middle class who typically use more electricity and fuel than those in the lower-income group.

Other measures targeted at the M40 in this year’s budget included the extension of childcare benefits from six to 12 years, RM1,000 in domestic-tourism relief and widened stamp duty exemptions for homebuyers.

TH probe goes beyond RCI scope

On a separate matter, Anwar said the investigations involving Tabung Haji (TH) went beyond the scope of the royal commission of inquiry (RCI) report, which only covered 2014 to 2020.

“There’s no obstruction to looking into (TH’s management) before and beyond (2014-2020). And this is what is being done by enforcement agencies and investigators,” he said.

While debating the TH RCI report in the Dewan Rakyat last week, Umno’s Tampin MP Isam Isa proposed an investigation covering the period from 2021 to 2025, as the previous RCI only covered 2014 to 2020.

Kinabatangan MP Kurniawan Naim Moktar of Umno agreed, saying the audit of TH should not “stop halfway” and that a fresh RCI should look into the pilgrim fund’s non-performing assets. - FMT 18 August 2026

BERSATU

Hadi wrong to say Bersatu automatically out of PN, says Azmin

PETALING JAYA: PAS president Abdul Hadi Awang’s claim that Bersatu is no longer part of Perikatan Nasional (PN) contradicts the coalition’s constitution, says Bersatu secretary-general Azmin Ali.

He said Hadi was wrong to claim that Bersatu automatically ceased to be part of PN after announcing plans to form a new political coalition.

“No clause in the PN constitution provides for the automatic termination of a party’s membership.

“Bersatu’s status as a PN member party can only be finalised by the presidential council, according to Clause 7A of the constitution.

“So far, the presidential council has not convened to determine Bersatu’s membership in PN. As such, Bersatu remains a legitimate member party of PN,” he said in a statement today.

Up until the Negeri Sembilan state election, Bersatu said it was still part of PN and that the coalition’s constitution required consensus among all component parties to remove any member party.

Its president, Muhyiddin Yassin, later said the party would form a new and stronger coalition with several other parties after the state election.

Hadi had claimed today that under the PN constitution, any party that chose to join or form another alliance would automatically lose its membership.

However, Azmin said Hadi had no right or veto power to determine Bersatu’s position in PN and that the PAS president’s “reckless statement” showed his lack of basic knowledge of the coalition’s constitution.

In a separate statement, Bersatu information chief Tun Faisal Ismail Aziz urged Hadi and PN chairman Ahmad Samsuri Mokhtar to specify the clause in the PN constitution supporting Hadi’s claim.

“Maybe Hadi was referring to the PAS constitution. But PN is not PAS. PN’s constitution is different from PAS’s constitution. PN is not a branch of PAS,” he said.

Azmin said Bersatu would also lodge an official complaint with the Registrar of Societies over the barring of its representatives from attending a meeting of PN’s Supreme Council that discussed seat allocations and PN’s cooperation with Barisan Nasional in the Negeri Sembilan state election.

“The actions of the PN chairman and PN secretary-general (Takiyuddin Hassan) went against the coalition’s constitution,” he said. - FMT 7 AUGUST 2026

US

Baseless, says Anwar of claim Hamas members trained in Malaysia

SEREMBAN: Prime Minister Anwar Ibrahim has rubbished claims by eight US lawmakers that Hamas members trained in Malaysia and that the federal government “welcomed terrorists while targeting Jews”.

“It’s baseless,” he told reporters here today.

The eight US lawmakers, who had earlier called on Washington to review its security and economic ties with Malaysia over Putrajaya’s policy barring Israeli citizens from entering the country, had based their claim on a report by an Israeli counter-terrorism research institute.

US categorises Hamas as a terrorist organisation.

Anwar said he had even informed US president Donald Trump of his meeting with a Hamas leader.

“There’s nothing unusual about it (relationship with Hamas),” he said.

In May 2024, Anwar met with Ismail Haniyeh during a working trip to Qatar, where he conveyed his condolences to Ismail over the loss of several of his family members killed in an Israeli airstrike in April.

The government in 2015 denied claims by Shin Bet, Israel’s secret service, that Malaysia was used as a training ground for Palestine students to attack Israeli assets.

Then deputy home minister Wan Junaidi Tuanku Jaafar said such claims were not only “ridiculous” but aimed at creating reasons to oppose Malaysia, a strategy often used against countries that Israel disliked. - FMT 22 July 2026

US nominates career diplomat Joshua Harris as envoy to Malaysia

PETALING JAYA: The US has nominated career diplomat Joshua Harris to serve as its next ambassador to Malaysia.

Harris’s name was submitted in a list of nominations sent to the Senate yesterday for confirmation.

Harris, from Maryland, is a career member of the Senior Foreign Service and currently holds the rank of minister-counsellor.

He has served as deputy chief of mission and frequently charge d’affaires at the US embassy in Tripoli, Libya, and the Libya External Office in Tunis, Tunisia.

Harris also served as the policy director to the special presidential envoy for the Global Coalition to Defeat the Islamic State of Iraq and Syria (Isis), and the director for Iraq at the National Security Council.

Additionally, he served as deputy assistant secretary of state and director of the Office of Maghreb Affairs in the State Department’s Bureau of Near Eastern Affairs.

His other foreign assignments have included stints in Ljubljana, Slovenia; Baghdad, Iraq; Tripoli, Libya; and Zagreb, Croatia.

Harris is a graduate of Georgetown University’s Edmund A Walsh School of Foreign Service and the London School of Economics and Political Science.

The US envoy position has been vacant since former envoy Edgard D Kagan’s tenure ended in February.

Before Harris, conservative commentator and author Nick Adams was nominated as the US ambassador to succeed Kagan, but was, however, dropped in February.

David Gamble is currently serving as the charge d’affaires at the US enbassy. - FMT 22 July 2026

Gerakan

8 years after leaving BN, Gerakan has come full circle with almost nothing to show for

FRESH from a devastating electoral defeat in 2018, Gerakan walked out of Barisan Nasional (BN) with much fanfare.

It felt that the coalition had lost its way and promised to re-build itself as an “independent” force. But in 2021, the Chinese-majority party joined the PAS-dominated Perikatan Nasional (PN).

Now, with the posturing from its PN allies like PAS, Gerakan seems to be one step away from being back in the BN orbit – but in a much worse position than when it had stormed out of the coalition.

This is all attributed to the machinations of Gerakan’s big brother in PN, PAS, which seems to be cozying up to UMNO-led BN as part of its “Malay Unity” agenda, especially in the run-up to the Johor state polls on July 11.

In fact, PN is contesting in only 33 of the 56 seats in the Johor assembly when the coalition had stood in all of them in the 2022 state polls.

To make matters worse, Gerakan is not fielding any candidates for the polls this time around although it stood in eight seats four years ago.

PAS deputy president Datuk Seri Tuan Ibrahim Tuan Man has even openly asked its supporters to back BN in seats where the coalition faces Pakatan Harapan (PH) in straight fights.

By sitting out of the polls, Gerakan has not just paved the way for a BN-PH straight fight. It has also averted a split in Malay votes and boosted chances of BN candidates given the community’s general disdain for PH, especially the DAP.

Taken together, these developments point to a strategy that is likely to make BN the main beneficiary after the last ballot paper is counted on July 11.

The truth is, Gerakan is now a pale shadow of what it once was. It has spent the better part of the last eight years becoming increasingly irrelevant compared with its heydays when it ruled Penang.

Its biggest “achievement” since leaving BN is one state assembly seat in Kedah – the Kulim state seat by the party’s secretary-general Wong Chia Zhen – which was won under the PN banner and followed by an EXCO appointment in a PAS-led state government.

It was less a testament to Gerakan’s political revival than to PAS’ willingness to carve out a seat for its junior partner.

Beyond that, Gerakan has struggled to justify why it exists as a separate political party. The party’s decline has been symbolised by its president Datuk Dominic Lau Hoe Chai.

His ill-fated contest in Penang in 2023 where even PAS grassroots openly rejected him, exposed Gerakan’s lack of standing within its own coalition.

It was difficult to escape the impression that Gerakan had become little more than a passenger riding on the strength of more senior partners.

Now with the latest political developments, the party, sometimes lampooned as “Gelakan” (“a joke” in Malay), seems to be back where it started.

Only this time, it returns with neither influence nor bargaining power, only massive loss in public goodwill and a president with a tail between his legs. – Jonathan Liew, FocusM June 30, 2026