☕️ A 'JPEG' digital art from a living artist that sold for USD69.3 million
Frogs are jumping from opposition to PN. RM10,000 compound applies to all SOP breaches (probably not for politicians). Kutumb-the Indian social network that grew from 500k to 11 mil users in 3 months.
Know more, learn more. Be smarter in 3 minutes.
The underlined words are links! Click on them to the news article.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
31 trillion digits — the record calculated for the never ending mathematical constant pi (3.14). Happy belated Pi Day!
RM62 mil - the market price for the former residence of the first prime minister of Malaysia, Tunku Abdul Rahman in Pulau Tikus. The property sits on a freehold land of 64,472 sq feet, working out to RM962 psf.
USD2.802 bil - Avatar becoming the highest grossing film once again overtaking ‘Avengers: Endgame’ of USD2.797 bil after it was re-released in China.
3. COVID-19 SUMMARY
4. IN MALAYSIA 🇲🇾
Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob said the RM10,000 compound to those who violated the Standard Operating Procedures (SOP) applies to all categories of MCO.
Prasarana Malaysia Berhad has terminated its former president and CEO Muhammad Nizam Alias on Feb 22. However, the latter on the March 12 2021 that he has yet to receive any notice of termination. Nizam was given a show-cause letter which indicated that he had showed signs of insubordination when the board and chairman instructed him to investigate MRCB George Kent Sdn Bhd.
Four egg importers in Singapore have been directed to recall eggs from Lay Hong Bhd Layer Farm Jeram in Malaysia. The Singapore Food Agency has detected the presence of Salmonella Enteritidis (SE) in the product that may cause food-borne illness if food is consumed raw or undercooked.
Uncertainties in the local political ensues as Gombak MP DS Mohamed Azmin Ali hints more opposition reps will join Perikatan Nasional. Three MPs have done so so far this year.
However, Umno’s VP DS Mohamed Khaled Nordin said these defections won’t save Perikatan Nasional from its demise.
Hot stock of the month Dataprep Holdings Berhad which rose from 16.5 sen on Feb 11 2021 to RM3.16 within a month has announced that its subsidiary, Dataprep (M) Sdn Bhd has signed a Memorandum of Collaboration (MoC) with an IT consulting and services provider company Asia Coding Centre Sdn Bhd for provision of integrated solution technology for Covid-19 screening.
5. AROUND THE WORLD 🌎
Thailand becomes the first Asian nation to pause using AstraZeneca/Oxford’s vaccine following several cases of blood clot amongst vaccinated people in Europe. Denmark, Norway and Italy on Thursday have suspended all use of this vaccine, About 5 mil people have received AstraZeneca’s vaccine of which 30 people were reported with cases of ‘thromboembolic events’ - blood clots forming in the blood vessels and blocking blood flow.
Germany’s public health agency has warned that a 3rd wave of coronavirus infections has begun.
Digital artist Mike Winkelmann, aka Beeple, has sold his Non-Fungible Token (NFT) digital art for USD69,346,250. The art piece, known as ‘Everydays - The First 5000 Days’, is purely a digital copy of Beeple’s collection and became Christie’s first ever digital item ever auctioned in its 250-year old history.
The bidding jumped from USD15 mil to over USD69 mil in under 30 minutes. This sale placed Beeple one of the world’s 3 most valuable living artists. NFT is the use of blockchain technology to tie and authenticate one’s ownership over an asset.
Tiger Global, the giant investment firm from the US, is in talks to invest USD15-20 mil in a 7-month old social network startup called Kutumb from India. ‘Kutumb’, which means family, is akin to Reddit that connects communities with common interests, beliefs, culture and professions.
In its short span since its founding, it has amassed 11 mil monthly active users, up significantly from 500k in December. This fundraising round will value it at about USD170 mil, multiple folds higher than its valuation last year of USD15 mil.
It was rumoured last week that Grab intends to IPO in the US via a SPAC. 2 SPACs associated with Altimeter Capital that is said to be involved in this merger with Grab surged on the back of this news. The deal could be valued as much as USD40 bil.
Grab is on the hook to pay UberUSD2.26 bil should it not go public by Mar 2023 as part of Uber’s redemption rights to redeem its 23% stake in Grab.
Hope you enjoy reading our newsletter! Share this newsletter to your friends if it made you smarter today!