Bottom feeders, exposed assets, stuck money
Just another week in Corporate Malaysia.
A late-evening brief on what I left out of Sunday’s newsletter:
🏦 A fraud-prone US bank seemingly loved by Malaysian GLCs
🪦 CVC’s decade stuck in Malaysian deathcare and chicken
Before I get to the meat of the newsletter, everyone’s watching two things on the politics front: the looming Cabinet reshuffle and the Sabah polls.
There are vacancies to fill. Ewon Benedick quit as entrepreneur development and cooperatives minister over Sabah’s 40% revenue entitlement, which Anwar has conveniently deferred until after the state polls.
Tengku Zafrul Aziz’s Senate term expires in December and, as this is his second term, he’s done. Still, he’ll remain in politics.
That puts four portfolios in play: economy, natural resources, entrepreneur development and cooperatives, and international trade and industry.
At this point, any reshuffle looks cosmetic, aimed more at calming egos within the government and coalition than fixing policy.
Anwar has until February 2028 to call an election: not much time to repair the system, but ample room for more “working visits” abroad.
He now faces another popularity test as Sabah heads to the polls at month-end.
Sabah politics runs on a different script from Peninsular Malaysia and Sarawak.
Fielding Yamani Hafez Musa — a serial party-hopper and son of controversial Sabah governor Musa Aman — as PKR’s candidate for a seat is a clear signal to the state’s old elite.
This is classic Anwar realpolitik, where power trumps principles.
I won’t belabour Sabah, except to say this: at some point, voters there will have to live with the choices they make.
The stories of crushing poverty and broken basic infrastructure are not new. But, if money politics once again sets the result, please spare us the performative outrage.
That energy also applies to us in the good ol’ semenanjung (peninsula) as well.
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