☕️ The missing RM1 billion from Boustead
After the pandemic crisis, a global debt crisis. Tun M - PN's PM? OnlyFans.com - monetising your sexual creativity.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
RM11 billion of investments in manufacturing sector were made in Negeri Sembilan from June 2015 to June 2020.
USD580 million Nintendo Park by Universal Studios will be opened in February 2021 in Osaka, Japan. Mario Kart anyone?
USD9.7 trillion of debts issued this year across the world by companies and governments. Global debt outstanding to hit USD277 trillion by year end. This is 365% of total GDP. In other words, the world is owing 3x its income. This is just kicking the can down the road. Who’s going to foot the bill?
3. COVID-19 SUMMARY
4. IN MALAYSIA
Boustead has lodged a report with MACC over its RM9 billion combat ship project. RM6 billion has been paid by the government yet not one ship of the six that was ordered was even built. RM1 billion of the RM6 billion that has been paid could not be accounted for according to the special investigation committee.
Mix bag of results from the banking sector with RHB reported y-o-y improvement in net profit (up 1.04%) with RM622.25 million for 3QFY20 ended Sept 30, 2020 but AmBank saw its net profit declined 25.75% y-o-y with RM237.32 million for 2QFY21 ended Sept 30, 2020. Nevertheless, BNM in its monthly highlights maintained that asset quality remains healthy after the blanket loan moratorium.
Glove maker Comfort Gloves Bhd reported another stellar quarter with net profit of RM90.3 million for 3QFY21 ended Oct 31, 2020 - doubled of that in the previous quarter.
Tun M chided Datuk Seri Azmin Ali on the latter’s remark of Perikatan Nasional was Tun M’s idea. Tun M said if it was true, he would be remained the PM.
Which is more important, money or life? Jewellery shops were packed as the gold prices dropped last week and the Kelantan police has issued 23 compounds to errant patrons and shop proprietors flouting the SOPs.
According to Department of Statistics Malaysia (DoSM), 2019 saw fewer marriages, higher number of divorces and women waiting longer before getting married.
5. AROUND THE WORLD
Beware: OnlyFans.com is NSFW. This site that rise to popularity during this pandemic age allows one to express their sexual creativity and to top it off, monetise from it (ie. 10,000 subscribers paying USD10 / month for one OnlyFans content creator). This is the story of how OnlyFans change the X-rated entertainment industry.
S&P Global is making a mega deal, the largest of the year. It’s acquiring IHS Markit in an all-shares transaction for USD44 billion. S&P’s market cap is about USD82 billion. Both companies are amongst the top data providers in the market. Post acquisition, S&P Global shareholders will own 68% of the new entity.
Interesting short read on the data provider industry.
The world’s largest food delivery service, backed by Tencent, Meituan posted a 29% rise in revenue to 35.4 billion yuan (USD5.4 billion) and a profit of 6.3 billion yuan (USD960 million), though profit was boosted by 5.8 billion yuan (USD884 million) in investment gains. Meituan’s market cap: USD220 billion.
China’s economic recovery is holding up. Manufacturing and non-manufacturing activity climbed to the highest leven in 3 and 8 years, respectively.
President-elect Joe Biden has appointed the first female Treasury Secretary of his administration, Janet Yellen. Yellen was the former Federal Reserve Chair.
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