YeeKiat Tan

what industry is entirely built on a house of cards and would collapse overnight if people realized the truth about it ??

I desperately need to learn more math. Recently I invented "lerp" from first principles. Would have saved some time if I knew its industry-standard name :/

If we beat Galatasaray, We will have to play PSG If we beat PSG, We will have to play Madrid or Bayern.

I’m now in Singapore, and I just can’t stop thinking about the uncomfortable parallels between here and Dubai. Both are very modern and considered business and tourism friendly. But both are in dangerous neighborhoods, along strategic choke points, whether the Strait of Hormuz or Strait of Malacca. Whoever controls these channels is of utmost importance during crisis or war. Meanwhile, Iran retaliated against UAE for its US military support, and I can’t guarantee China while invading Taiwan wouldn’t do the same against Singapore for its logistical and maintenance support of US military assets.

Teaching Greek in a Methodist divinity school, you can’t just put actual Bible verses on the quiz, because the Baptist students will recognize the verse from just a few words and recall the English. You have to make some changes.

Q) M’sia is a net energy exporter… but who in M’sia benefits from higher energy prices? A) Mostly exporters; not necessarily the rakyat or even the govt This is 'cos: 1) M’sia is 3+1 things at once: an oil producer, an oil exporter, an oil importer. And a major gas exporter - it produces (light, high quality) crude oil, mostly offshore in Sabah, Terengganu, S’wak, and exports lots of it. So exporters benefit from higher oil prices. Same for gas exporters, with higher gas prices - ⁠It imports (heavy) crude oil mostly from Saudi, UAE, Africa that M’sian refineries refine, partly for local consumption & partly for export, and capture the spread So when energy prices increase, it is M’sian exporters that benefit 2) Oil is priced *globally*, not domestically (gas mkts are more nuanced). Even the oil M’sia exports, it still sells into the global market, where *global* demand / supply sets prices -> This underscores that being a net energy exporter doesn't insulate you from higher prices. Even with fuel subsidies in place, M’sia imports *refined* oil products such as gasoline, jet fuel, specialized oils for machinery/ mfg etc. In fact, last year, M’sia imported RM92 bil worth of such refined oil products, mainly from SG, S. Korea, India. That’s almost 9% of all goods imports! Higher costs of such refined products directly or indirectly affect M’sian businesses & rakyat 3) But what about govt: doesn’t govt benefit from higher net energy exports? Not necessarily. First, when it comes to oil, M’sia has turned into a net importer in recent years of both crude & refined products. This is a surprise but a fact. So higher oil prices lead to a higher import bill. Second, is whether higher commodity-based revenue is enough to compensate higher fuel subsidy spending. If not, govt will not benefit necessarily from higher prices. We'll crunch the numbers, and more, in our next economic update soon, so pls stay tuned…but for now, suffice to say that headlines such as "a net energy-exporting country benefits from higher energy prices" is simplistic…you have to distinguish btwn refineries, exporters, govt & citizens End/

🚨 JUST IN : Anwar Ibrahim has ordered all government agencies, GLCs, and GLICs to cancel Aidilfitri open houses this year and limit official overseas travel to encourage careful spending. "Jangan kita nanti terjebak dengan keadaan yang lebih parah." The PM also confirmed that the petrol subsidy price will be maintained and petroleum product supplies are sufficient until at least May. 🧵1