Key Takeaway: Cybercrime will be included in Malaysia-Singapore cross-border crime cooperation , as the two countries prepare to renew their Memorandum of Understanding (MOU) on the matter. Malaysia’s Home Minister, Datuk Seri Saifuddin Nasution Ismail, announced that cybercrime will be a new focus in Malaysia-Singapore cross-border crime collaboration . The updated MOU will be signed on Nov 14 during Saifuddin’s meeting with Singapore’s Minister of Home Affairs and Law, K. Shanmugam. This move reflects the growing threat of cybercrime , which costs ASEAN an estimated US$64 billion annually. The agreement emphasizes capacity-building, intelligence-sharing, and joint operations as vital components for addressing cybercrime. The exchange of MOU documents will occur at the Annual Leaders' Retreat on Dec 8 in Malaysia, which will be attended by the prime ministers of both nations. Saifuddin also highlighted plans to discuss border congestion issues and will visit Singapore’s Immi
The Thai baht fell over 1% against the US dollar on Tuesday, hitting 34.739 per dollar — its weakest level since August — as investors grew wary of Thailand's central bank independence.
The decline follows news that Kittiratt Na-Ranong, a former finance minister and critic of the Bank of Thailand’s (BOT) monetary policy, is set to be appointed as the central bank’s chairman. Kittiratt’s appointment has raised concerns that the government is increasing pressure on the BOT to cut interest rates, potentially affecting its autonomy.
“As long as the central bank’s independence is at risk, investors will likely favor dollar-baht trades,” commented Eugenia Victorino, head of Asia strategy at Skandinaviska Enskilda Banken.
The baht has declined over 7% this quarter, the weakest performance among Asian currencies, as pressure on BOT to lower borrowing costs grows. Compounding the baht’s outlook, Donald Trump’s recent election victory has heightened fears of new trade tariffs, which could impact Thailand, one of Southeast Asia’s most trade-exposed economies.
While Kittiratt won't directly influence policy, he will play a role in selecting Monetary Policy Committee members and evaluating the BOT governor's performance, fueling expectations for potential rate cuts in 2025.
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