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Morning Brief

BFM Media

Opinion and analysis of today’s international and local news that matter to Malaysians. Everything you need to know to start and plan your work.

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Today · 7 min
Bank Negara Holds at 2.75%: What Comes Next in 2027?
Bank Negara Malaysia kept the Overnight Policy Rate at 2.75 per cent at its last policy meeting of the year, as most economists had expected. But interbank rates have risen about 30 basis points this year even with the OPR unchanged, a minimum wage increase is due next year, and US Treasury yields have fallen after the midterms. We speak to Khoon Goh, Head of Asia Research at ANZ, about what drove the decision, what the gap between market rates and the policy rate tells us, and where Malaysian interest rates could head in 2027. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Today · 12 min
Farhash vs Bloomberg: The Fight to Halt an Unprinted Story
Can the court block a story that’s not been published? Emmanuel Samarathisa, founder of The Malaysianist, joins The Morning Run to to unpack the legal fight between corporate figure Datuk Seri Farhash Wafa Salvador and global news wire Bloomberg. The former political secretary to the Prime Minister sued Bloomberg over an article that hadn’t been published yet and won an ex parte injunction restraining publication until November 16. Emmanuel talks to us about the landmark 1891 Bonnard v. Perryman rule and how it sets a high bar on pre-publication restraint. He also examines Farhash’s boardroom ascent and previews the three critical arguments to watch when Bloomberg challenges the injunction on November 16. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Today · 10 min
New Zealand Votes: A Government in the Balance
New Zealand heads to the polls with National and Labour closely matched, raising the prospect of another election decided by smaller parties and coalition negotiations. Prime Minister Christopher Luxon faces scrutiny over rising unemployment and his government's economic record, while Labour's Chris Hipkins is seeking a political comeback. Independent political analyst Grant Duncan examines voter disillusionment, the competing economic agendas and the influence of smaller parties in determining the next government. We also explore how New Zealand's relationships with China, the United States and Australia could shape its political direction, and the challenges awaiting whoever takes power. The Morning Brief is brought to you by CIMB Private Wealth. Move your wealth forward with personalised wealth advisory and priority access to investment opportunities. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Today · 11 min
ASEAN Rates, Inflation and the AI Boom's Uneven Gains
Inflation across Southeast Asia is charting an increasingly divergent course, with headline figures ranging from a moderate 1.8% in Malaysia up to a sharper 7.8% in the Philippines. While targeted fuel subsidies and domestic price controls have shielded households in economies like Malaysia and Indonesia, rising second-round cost pressures and currency fluctuations are prompting regional central banks to quietly tilt toward a more hawkish posture heading into 2027. Lavanya Venkateswaran, Senior ASEAN and India Economist at OCBC Bank, joinsThe Morning Run to unpack the region's diverging macroeconomic landscape. She explains why price shocks are hitting economies unevenly, evaluates the three transmission channels of the ongoing AI and data center boom, and addresses why the gains risk remaining heavily concentrated rather than lifting entire economies. Plus, she weighs in on the medium-term trade implications of the US midterm election results for pending semiconductor tariffs. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Yesterday · 6 min
Central Banks Are Buying the Gold Dip
Gold has shed about a quarter of its value since the US-Iran war began in February, but central banks are buying at their fastest pace in almost two years, with third-quarter purchases up 42%. China and India account for more than half of all buying, while Russia is the only major seller. Jewellery demand has also slumped to its weakest since 2000. Is central bank demand enough to turn prices around, and why is gold trading more like a stock than a safe haven? We speak to Christopher Wong, Precious Metals Strategist at OCBC Bank Singapore. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Yesterday · 14 min
Is Trump Now A Lame Duck President?
Democrats have just taken both chambers of Congress, and the damage reaches deep into territory Republicans thought was safe. Texas now has its first Democratic governor in more than three decades, after James Talerico beat Ken Paxton for the Senate seat and Gina Hinojosa flipped the governorship. Donald Trump says he'll work with Democrats, but he's also calling himself a potential "king of vetoes." Washington just got a lot more complicated. Dr Kathryn Robison of the United States Studies Centre unpacks what the result does and doesn't change: why Trump keeps sweeping foreign policy powers even as his domestic agenda stalls, whether Texas is now a genuine 2028 battleground, and what the Hispanic vote's swing says about where American politics is heading. She also traces the cracks opening up around JD Vance and the MAGA movement's future inside the GOP. Along the way: what the night signals for the US relationship with Israel, and why neither party may want impeachment anywhere near the agenda. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Yesterday · 12 min
Bersama Fights in Melaka: Is Winning Realistic?
Contesting 16 out of 28 state seats in the Melaka polls, Parti Bersama Malaysia enters the race as the third-largest contender behind Barisan Nasional and Pakatan Harapan. Backed by a six-point manifesto, Ibrahim Sani, Official Spokesperson of Parti BERSAMA Malaysia, joins The Morning Run to outline the party's electoral strategy and hopes. He responds to concerns that Bersama will split the opposition vote to Barisan Nasional's advantage, details what a realistic electoral breakthrough looks like for their candidates, and addresses how the party is navigating the fallout from Nik Nazmi's controversy on the campaign trail. The Morning Brief is brought to you by CIMB Private Wealth. Move your wealth forward with personalised wealth advisory and priority access to investment opportunities. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Yesterday · 8 min
US Midterms: What the Democrats' Sweep Means for the Economy
US voters have just delivered what one guest calls more than a blue wave. Democrats have retaken both chambers of Congress, Texas returned not a single statewide Republican win, and Kansas elected a Democrat senator for the first time since 1932. Donald Trump stays in the White House for two more years, but the verdict on his tenure so far looks unusually brutal. Steven Okun, founder and CEO of APAC Advisors, breaks down why he thinks this result amounts to a repudiation rather than an ordinary change election, and the "two A's" he says Democrats now have to balance in Congress. He weighs how much real power the new Congress has over Trump's tariff agenda, and what's actually on the table for investigation when it comes to the Iran war and its costs to American households. Along the way: why he doesn't expect any of this to make Trump moderate. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Wednesday · 7 min
Indian Stocks: Bargain or Value Trap?
India's economy is growing at more than 7%, yet its stock market remains one of Asia's worst performers this year. With valuations falling below historical averages, could this be an opportunity for investors, or are there deeper problems behind the selloff? Nitin Chanduka, Emerging Markets Equity Analyst at Bloomberg Intelligence, examines why Indian equities are struggling despite strong economic growth and improving corporate earnings. We also explore India's limited exposure to the global AI boom, emerging investment opportunities linked to the technology, the significance of Jio Platforms' IPO and which sectors could lead a market recovery. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Wednesday · 10 min
Australia’s Inflation Fight: How Much Pain Ahead?
Australia’s central bank has raised interest rates to 4.85%, their highest level in 18 years, as stubborn inflation continues to challenge policymakers. Despite five rate hikes this year, rising energy costs, weak productivity and persistent domestic price pressures are keeping inflation above target. Hebe Chen, Senior Market Analyst at Vantage Markets, examines why inflation remains difficult to control, whether further tightening is inevitable and how much economic weakness the Reserve Bank of Australia is prepared to tolerate. We also explore the implications for employment, economic growth and the outlook for Australian interest rates heading into 2027. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Wednesday · 8 min
Chancellor Merz's Asia Tour: De-Risking from China?
German Chancellor Friedrich Merz recently concluded a five-day tour across Singapore, Japan, and South Korea with a business delegation in tow, aiming to deepen economic ties as Berlin attempts to diversify away from China. At the very same time, German President Frank-Walter Steinmeier was dispatched to Beijing to smooth bilateral ties, raising key questions about Germany's broader policy calculus in the region. Dr Frederick Kliem, Southeast Asia Director at the Economist Intelligence Corporate Network, joins The Morning Run to assess the trip. While critiquing Merz's heavy emphasis on the Russia-Ukraine war in Asian capitals, he highlights the tactical ingenuity behind floating an interconnected network of free trade zones and pairing German industrial manufacturing with Asia’s tech and AI ecosystem into a networked "mini Guangdong". He also explores whether genuine appetite exists in Asia for a larger German strategic footprint, and why Brussels’ own protectionist "Made in Europe" regulations could prove to be Berlin’s steepest hurdle in the region. The Morning Brief is brought to you by CIMB Private Wealth. Move your wealth forward with personalised wealth advisory and priority access to investment opportunities. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Wednesday · 8 min
Melaka Polls: UMNO on Duyong Straight Fight vs DAP
Duyong was decided by just 200 votes in 2021, and this time Barisan National's incumbent faces an even stranger fight. His challenger from Pakatan Harapan's DAP is someone he calls a friend, forged through years of cooperation in the state government. Melaka votes on November the 14th, UMNO is testing its new alliance with PAS after wins in Johor and Negeri Sembilan, and 79 candidates are chasing 28 seats across the state. YB Datuk Mohd Noor Helmi, Barisan National's candidate for Duyong, talks through what it means to campaign against an ally, and why he thinks explaining the UMNO-PAS pact to voters was actually easier than explaining past cooperation with Pakatan. He breaks down how 2021's PAS votes factor into his arithmetic this time round, and what Duyong's younger and older voters actually want from him. Left hanging: whether the Barisan-PAS partnership survives beyond polling day, a question he says isn't his to answer. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Tuesday · 10 min
DAP on Melaka Polls: No Safe Seats & Vote-Splitting Risks
As Melaka heads to the polls on November 14, DAP must defend its existing strongholds while contesting three additional seats allocated under the Pakatan Harapan banner. This comes as the entry of Bersatu and Bersama shifts the electoral arithmetic, introducing multi-cornered vote-splitting into what were once predictable races. Kerk Chee Yee, DAP Melaka Publicity Secretary and candidate for N16 Ayer Keroh, joins The Morning Run to unpack the party's strategy. He explains why DAP opted to retain incumbents in core urban seats while deploying familiar community ground teams in previously lost constituencies. He also addresses why Ayer Keroh is no longer guaranteed safe territory under a four-way contest, weighing the risk of new entrant Bersama cannibalising Pakatan Harapan's base against Bersatu’s potential to disrupt Malay voter support from 2021. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Tuesday · 10 min
FMM on PMI Rebound, Rising Orders & Margin Squeezes
Malaysia’s manufacturing sector returned to expansion in October, with the S&P Global PMI climbing to 51, its strongest reading since April. New orders surged at one of their fastest rates in four and a half years on the back of resilient export demand, yet manufacturers' business confidence dropped to a six-month low. Jacob Lee Chor Kok, President of the Federation of Malaysian Manufacturing (FMM), joins The Morning Run to unpack this disconnect. He explains how the rebound is concentrated in AI-linked sectors such as electrical and electronics (E&E) and semiconductors, while traditional industries like textiles, furniture, and food processing grapple with squeezed margins and regional competition. He also breaks down why persistent supply chain disruptions and geopolitical fallout in West Asia are forcing factories to abandon "just-in-time" supply chains for a "just-in-case" inventory approach. The Morning Brief is brought to you by CIMB Private Wealth. Move your wealth forward with personalised wealth advisory and priority access to investment opportunities. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Tuesday · 8 min
Hong Kong Stocks: Why the Disconnect?
Hong Kong's stock market is facing a sharp divide between its success in attracting new listings and the disappointing performance of Chinese companies already trading there. The Hang Seng Tech Index has fallen more than 30% this year, even as Hong Kong ranks among the world's leading IPO markets. Yuan Yiu Tsai, Equity Portfolio Manager at Eastspring Investments, examines why Chinese stocks listed in Hong Kong are underperforming their mainland counterparts, what's behind the technology sector's weakness and why companies continue to seek listings in the city. We also explore the slowdown in IPO performance and where investors might find opportunities. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Monday · 10 min
Melaka Votes: A Test of Political Loyalties
Melaka heads to the polls on November 14, with 79 candidates competing for 28 state assembly seats in an election featuring straight fights and multi-cornered contests. With Barisan Nasional seeking to retain power, Pakatan Harapan looking to make gains and Perikatan Nasional facing a changing political landscape, how will shifting alliances and divided votes shape the contest? Adib Zalkapli, Managing Director of Viewfinder Global Affairs, examines the key battlegrounds, the significance of PAS aligning with BN, and the challenges facing emerging political parties. We also explore the local issues and voter concerns that could influence the outcome. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Monday · 11 min
Binance Hack: How Safe Is Your Crypto?
A reported US$6 billion cryptocurrency heist at Binance, the world's largest crypto exchange, has raised serious questions about the security of digital assets and the protection available to investors. Although Binance says it has recovered 90% of the stolen funds and will cover remaining losses, the incident has renewed concerns about vulnerabilities across the industry. Zhong Yan Chan, Head of Research at CoinGecko, examines how such attacks happen, what investors should look for when choosing an exchange, and whether using a locally regulated platform offers Malaysians greater protection. We also explore what the industry must do to restore investor confidence. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
Monday · 9 min
Balabac, Sabah, and Malaysia's US-China Balancing Act
Located just 50 kilometres from the northern tip of Sabah, the Philippine island of Balabac is undergoing a military expansion, including a 3KM airstrip accessible to US forces under the Enhanced Defence Cooperation Agreement (EDCA). Dato' Dr Ilango Karuppannan, former Malaysian ambassador and adjunct senior fellow at the S. Rajaratnam School of International Studies (RSIS), joins The Morning Brief on The Morning Run to unpack the development. He explains why the primary concern lies in indirect economic disruption and diplomatic coercion rather than a direct military strike, how an enhanced naval presence could also deter regional piracy, and what happens to Balabac's infrastructure if shifting geopolitical tides leave it entirely in Manila's hands. Drawing on past precedents like the Proliferation Security Initiative, he examines whether Malaysia's non-aligned stance can withstand direct superpower confrontation. The Morning Brief is brought to you by CIMB Private Wealth. Move your wealth forward with personalised wealth advisory and priority access to investment opportunities. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
October 30 · 8 min
Tycoons, Political Patronage, & SoftBank’s $50B AI Pledge
When Prime Minister Datuk Seri Anwar Ibrahim revisited the corporate fallout of the late 1990s Asian financial crisis in Parliament, he framed the exits of prominent business figures as the work of a "corporate mafia" run by political rivals. Emmanuel Samarathisa, founder of The Malaysianist, joins The Morning Run to unpack the Prime Minister’s trip down memory lane. He breaks down the resilient nature of family-controlled capital, how corporate patronage has modernised from direct asset transfers into institutional influence, and why Masayoshi Son’s US$50 billion AI pledge demands healthy skepticism given SoftBank's history of walking away from grand announcements. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.
October 30 · 5 min
Data Centres, Renewables and the Power Sector Shake-Up
Malaysia wants to double renewables’ share of Peninsular Malaysia’s energy mix, from 11% in 2025 to 22% by 2035. Data centres must now source at least 30% of their energy from renewables and meet a 30% local content requirement. Ahmad Maghfur Usman, Equity Research Analyst at Nomura Securities, explains what this means for utilities, data centre operators and the supply chain, the outlook for Tenaga Nasional’s earnings and dividends, and his top picks in the sector. Image Credit: Shutterstock See omnystudio.com/listener for privacy information.

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