☕️ 24 hours later: MCO in KL. Minister forgot KL surrounded by the 6 Selangor districts under MCO?

Malaysia clinched its first-ever Diving World Cup gold medal. Crypto industry first ever USD1 bil acquisition. G20 nations to back 'vaccine passports'.

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1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

RM3.147 million in summonses collected by JPJ within two weeks following its 70% discount offer in conjunction with the department’s 75th Platinum Jubilee celebration.

3.97 million nitrile disposable gloves imported by Top Glove Corp Bhd’s subsidiary were seized by US CBP due to information indicating that they were made by forced labour.

Chromebooks which runs on Chrome OS were the best selling PCs in Q1 of 2021, having sold 12 million units up 275% y-o-y.


3. COVID-19 SUMMARY


4. IN MALAYSIA 🇲🇾

  1. Government launches RM3.5 bil Jaringan Prihatin programme to bridge the digital divide by addressing the issue of affordability of the B40 group. The initiative is is expected to benefit around 8.4 million people who are the existing recipients of the Bantuan Prihatin Rakyat (BPR). The programme aims to assist in subscriptions of broadband internet plans and purchases of mobile smartphone devices.

    Government will spend RM2 billion while 12 telcos and service providers will work together to provide additional contributions amounting to RM1.5 billion, mainly in the form of free data.

  2. Supermax Corporation Berhad reported another stellar quarter with net profit 3QFY21 of RM1.005 bil and declared dividends of 13 sen per share. However, the glove maker noted rubber glove spot pries are on downtrend falling between 15% to 25% and are lower than contracted prices.

    The downtrend is mainly due to increase in capacity by the bigger players and new players jumping on the bandwagon. Supermax is confident with its business model through original brand manufacturer (OBM) with two streams of income via manufacturing and distribution.

  3. High Court has fixed May 24 for case management of Inland Revenue Board’s (IRB) bankruptcy claim against former PM DS Najib Razak for failing to pay tax arrears of approximately RM1.69 bil. The former PM is not yet a bankrupt as no act of bankruptcy has occurred yet.

  4. A housewife in Johor Baru fell victim to a Macau Scam, losing more than RM300,000 of her savings. We’ve put together a little guide previously — available here which tells you what a Macau scam is. Be vigilant, spread the word and potentially save someone you know from becoming a victim.

  5. Malaysia clinched its first-ever Diving World Cup gold medal thanks to national diver Pandelela Rinong. The two-time Olympic medallist won the women's 10m platform individual event at the Tokyo Aquatics Centre today.

  6. The National Union of Journalist (NUJ) in collaboration with International Federation of Journalists (IFJ) Asia-Pacific Region has published the Malaysia Media Report 2020, highlighting the lack of women in senior editorial positions have resulted in a “toxic and self-perpetuating cycle” in newsrooms. Moreover, issues regarding women’s rights and gender equity were under reported too.


5. AROUND THE WORLD 🌎

  1. The world’s most powerful economies are getting the ball rolling on vaccine passports in a bid to revive the travel and tourism industry hit hard by the pandemic. Tourism ministers from the Group of 20 nations are throwing their weight behind the vaccine certificates, according to Italian Tourism Minister Massimo Garavaglia. The travel and tourism industry is amongst the hardest hit, if not the hardest, by restrictions to contain the coronavirus. According to the World Travel and Tourism Council, the travel and tourism sector global output collapsed by 49% to USD4.7 tril in 2020, causing 62 mil job losses as international visitor spending plunged by an unprecedented 69%

  2. The Honest Co, founded by Jessica Alba, actress turned entrepreneur, is making its listing debut on Wednesday after raising USD413 mil in its IPO. The company is a personal-care brand that is committed to creating healthy products. At its IPO price, the company is valued at USD1.45 bil with Jessica Alba’s stake alone worth USD90 mil. The company was founded in 2011 and in 2020, generated USD301 mil in sales, 28% increase yoy and incurred losses of USD14.5 mil. Diapers and wipes accounted for 63% of its revenue in 2020. 

  3. Facebook’s independent oversight board ruled to uphold the company’s decision to suspend former President Trump’s Facebook and Instagram account. However, it criticised Facebook for making the suspension indefinite (it should be restored, suspended temporarily or permanently banned) and gave it 6 months to determine a ‘proportionate response’ and make suggestions on how it would create policies that balance public safety and freedom of expression. 

    The oversight board, formed in Oct 2020, is dubbed Facebook’s ‘Supreme Court’, which can overturn the company’s decision on its content moderation. Each case is reviewed by a 5-member panel and the oversight board has 20 members comprising civic, technological, free speech, journalism and human rights experts from around the world. 

  4. The crypto industry has just seen its first ever USD1 bil acquisition. Bitcoin-focused firm Galaxy Digital is acquiring BitGo, a leading crypto custody company for USD1.2 bil in cash (USD265 mil) and stock. BitGo shareholders will own about 10% of the new company. BitGo has over USD40 bil of assets under custody, serving over 150 exchanges and over 400 institutions clients, processing over 30 bil monthly transactions and supporting custody for more than 400 coins. PayPal reportedly was in talks to acquire BitGo a few months ago for USD750 mil cash


6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)

  1. Top 10 richest people share 1 commonality..

  2. New animation from NASA showing what it might look like a pair of orbiting supermassive black holes, known as binary system, in action.