☕️ 1MDB and SRC Int filed 22 suits to recover RM96.6 bil against ex-PM Najib, JP Morgan, Deutsche Bank and others

USD47.5 bil Covid-19 vaccine creator BioNTech to open 1st ever facility outside Europe in Singapore. SpaceX accepting dogecoin as payment. Indonesia unicorn Gojek raised additional USD300 mil.

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RM135 mil — the estimated loss in F&B revenue suffered by the hotel industry in 2020.

177,900 — job vacancies in 1Q2021, up 7.2% y-o-y in line with better economic performance, according to the Department of Statistics Malaysia (DOSM).

39 startups surpassed USD 1 bil valuation, to become unicorns in April 2021 according to Crunchbase. Full list here.


  • The government has announced nationwide MCO effective May 12 2021 until June 7 2021.

  • If you’ve got an Astra Zeneca vaccination as part of the voluntary programme scheduled for May 15 and May 16 2021, you may want to recheck your appointment as 2,800 appointments will be rescheduled to prevent ‘human congestion.’

  • 875,000 Pfizer and AstraZeneca vaccines will be delivered to Malaysia between May 19 and June 1 2021.


PSA - May 15 2021 (this Saturday) is the last day for individual taxpayers to submit their income tax return forms (BNCP) via e-filing.

  1. In a bid to recoup RM96.6 billion, 1Malaysia Development Berhad (1MDB) and SRC International Sdn Bhd (SRC) had filed a total of 22 civil suits against foreign institutions and individuals. 1MDB had file 6 suits while SRC filed 16 suits.

    • Deutsche Bank (Malaysia) Ltd

    • JP Morgan (Switzerland) Ltd

    • Coutts & Co Ltd

    • Former prime minister Datuk Seri Najib Razak

    • Former Treasury sec-gen Tan Sri Mohd Irwan Serigar

    • Former 1MDB CEOs, Datuk Shahrol Ibrahim Halmi and Arul Kanda Kandasamy

    • Jho Low, his father and sister and accomplice Eric Tan

  2. Preacher Ustaz Abit Lew donates food to Zoo Negara in lieu of MCO 3.0 to feed the animals. He bought 200 kgs of meat and 10 baskets of watermelons and papaya. Faith in humanity restored! It is rather puzzling that a philanthropist has to step in and help the local zoo, instead of a government entity.

  1. Two biggest cinema operators in the country have voiced their dissatisfaction over on Twitter with regards to the country’s mismanagement of the Covid-19 pandemic that is spiralling out of hand. #SaveCinemas

  2. Over the last two weeks, loss-making logistics provider Transocean Holdings Bhd has hit limit up (closed 30% or 30 sen higher intraday) four times fuelling speculation that the stock is being cornered.

    An analyst contacted by the Edge opined the acquisition of Enfrasys Consulting Sdn Bhd as one of the catalysts as the IT service firm is one of the companies selected to be a managed service provider (MSP) for cloud in MyDIGITAL. Notwithstanding, one of the best performing small/mid cap growth fund over the last 10 years Areca Capital had emerged as a substantial shareholder with a 7.76% stake after the logistics provider’s private placement exercise. What will be popping, the bottle of champagne or the bubble?

  3. Lotuss Stores (Malaysia) Sdn Bhd has no plans for job cuts after its takeover of Tesco Malaysia back in December 2020. In fact, it is hiring 200 local workers at its Bukit Beruntung distribution centre to further affirm its commitment to create employment in the country.


  1. BioNTech, the USD47.5 bil US-listed, German pharma that partnered Pfizer in its creation of the Covid-19 vaccine announced an explosive set of results in its Q1 2021 results. Revenue is up by 70x from EUR27 mil to EUR2 bil year-on-year (yoy) and profits surge as well from a loss of EUR53.4 mil to EUR1.1 bil - a net margin of 55%. The company now expects EUR12.4 bil in 2021 revenue derived from the delivery of signed contracts for around 1.8 bil Covid-19 vaccine doses. As of May 6, it has delivered 450 mil doses of its vaccines and expects manufacturing capacity to increase to 3 bil doses for 2021.

    In another achievement for Singapore, BioNTech also announced that it will set up a new manufacturing facility in Singapore involving an investment of ‘several hundreds of millions’, with construction beginning this year and be operational as early as 2023 and would create up to 80 jobs. This facility will be BioNTech’s first manufacturing facility outside Germany and its first office outside Europe and America. 

    The reason it picked Singapore as its Asia Pacific headquarters according to Ryan Richardson, BioNTech’s Chief Strategy Officer: the city state is a global innovation hub, has the ‘talents we want to work with’, and ‘perfect business climate’.

  2. Mass vaccination is showing sign of protecting the wider population against the coronavirus. 7-day average daily new Covid-19 cases in the US fell to below 40,800, down 30% from 2 weeks ago and the lowest level since September, according to Johns Hopkins University data and the 7-day average death is 667, far below its peak. The US is administering an average of 2 mil vaccine shots a day. 114.3 mil people, about ⅓ or 34.4% of the US population of 332 mil people are fully vaccinated and 152.1 mil or 45.8% of its population have received at least one dose. The key test now is whether this vaccine will withstand the mutated Covid-19 variants. 

  3. Ever Given, the container ship that caused a global supply chain bottleneck, remains impounded by Egypt’s Suez Canal Authority (SCA) in the Great Bitter Lake, 30 miles from where the ship was previously stuck. The SCA has offered to drop its claim against the owner of Ever Given, the Japanese company Shoei Kishen Kaisha, by USD300 mil from its USD916 mil compensation. Insurers for Ever Given’s owners challenged the USD916 mil claim that it is ‘largely unsupported’ and the SCA has not provided a detailed justification. A formal investigation is ongoing now, however, no date for any conclusion has been announced yet.

    News In Brief

    1. Gojek raised an additional USD300 mil from Telkomsel, a unit of Indonesia’s largest telecom operator Telkom, just months after it has invested USD150 mil, bringing Gojek’s total funding to USD3.45 bil.

    2. SpaceX has accepted dogecoin as payment for a launch in Q1 2022 from Canada’s Geometric Energy Corporation for its lunar payload.

    3. Melinda Gates has long spoken to divorce lawyer since 2019. The couple did not share what prompted the divorce, but sources point it to Bill’s relationship with convicted sex offender, Jeffrey Epstein, dated as far back as 2013.

    4. UK Prime Minister, Boris Johnson, is under investigation by the Parliamentary Commissioner of Standards, the UK’s sleaze watchdog as Johnson has broke parliamentary rules over conflicting accounts who paid for a GBP15,000 holiday he took with his partner to Caribbean island of Mustique last year.


  1. Ferrari’s latest toys — 812 Competizione and CompetizioneA (A for Aperta), limited to 999 and 599 units respectively. More pictures on here.

  2. Designer creates ‘Inception’-inspired coffee table

  3. PayPal Mafia market value creation: USD1.3 tril