Clean the squid and cut into bite-sized pieces. Set aside to drain.

Roughly pound the bird’s eye chilies and garlic together. Slice the fresh chilies diagonally.

Heat oil in a pan over medium heat. Add the pounded chili-garlic mixture and stir-fry until fragrant.

Add the squid and sliced fresh chilies. Season with oyster sauce, soy sauce, sugar, and a pinch of seasoning powder. Stir-fry to combine.

Taste and adjust seasoning if needed. Add the basil leaves and stir just until wilted. Turn off the heat. Do not overcook; the squid should be just cooked through.