☕️ Agreement inked: Celcom + Digi = RM50 billion new company
Sea, parent of Shopee, now more valuable than Softbank. What information can be revealed with your NRIC? Transsion, the biggest phone maker in Africa from China, overtaking Samsung.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
1,010,489,000 doses of Covid-19 vaccine had been given to people in China as on June 19 2021, according to the country’s National Health Commission (NHC).
RM45 bil — the amount of financing required by environmental, social, and governance (ESG)-related projects in Malaysia in the next five years.
USD136 bil - the increase in wealth of the top 10 wealthiest American families during the pandemic.
3. COVID-19 SUMMARY
150 construction sites ordered to close for flouting SOPs during FMCO 3.0
Mega vaccination centres (PPV) were not opened earlier due to the low vaccine supply as clarified by Khairy Jamaluddin.
Malaysia is working towards its own Covid-19 vaccine with mRNA technology — Malaysian Institute for Medical Research (IMR) started the development with Universiti Putra Malaysia (UPM) in November 2020. Clinical trials will be carried out in the next few months.
Your MySejahtera might allow to you travel internationally as the government is in talks with Singapore and several other countries to allow fully vaccinated Malaysia to travel by recognising their individual inoculation statuses.
4. IN MALAYSIA 🇲🇾
The biggest telecom transaction in the country, the merger of Celcom Axiata Bhd and Digi.Com Bhd has been formalised after Axiata Group Bhd. and Norway’s Telenor ASA signed a definitive agreement to combine their Malaysian mobile operations. The merged entity will have a “pre-synergy” equity value of RM50 bil, making MergeCo the biggest telco in the country by value.
Malaysia Kini’s Kini News Lab has created an interactive website to show you what personal data can be obtained from government websites using your NRIC number. Malaysia Kini claims they do not store your data, go have a look how transparent your NRIC can be.
Electronics manufacturing services (EMS) provider ATA IMS Bhd saw its share price fell as much as 20 sen to RM2.53 following renewed forced labour allegations. Dyson Ltd disputed allegations made by The Sunday Mirror which stated ATA IMS’s workers are forced to work as many as 186 hours overtime monthly in cramp conditions. The counter closed 5.13% lower at RM2.59.
Comfort Gloves Bhd reported net profit of RM219.13 mil for 1QFY22 ended April 30, 2021 on higher sales volume and average selling prices (ASPs), back by better economies of scale. The group declared an interim dividend of four sen, payable on July 22 2021.
News in brief
Nestcon Bhd’s initial public offering has been oversubscribed by 571.3 times, the listing on ACE market is tentatively on June 29 2021.
58 year-old clerk from Penang had been cheated RM927,400 of her savings by a scammer, “William Schang” from the US on Instagram.
UMNO’s President Datuk Seri Dr Ahmad Zahid Hamid gives government two weeks to reconvene parliament.
5. AROUND THE WORLD 🌎
Sea, the owner of Shopee, has seen its share hitting new highs making it more valuable than Japanese conglomerate and tech investment firm, Softbank. As of last week’s close, Sea’s market cap was USD148 bil vs Softbank’s of USD122 bil. Sea’s recent surge comes as it launched Shopee e-commerce platform across the world in Chile and Colombia earlier this month, following launches in Brazil and Mexico. Combined, these 4 countries have a population of about 400 mil vs Southeast Asia’s 650 mil. Bloomberg reported that Sea is planning to apply for a digital banking license in Malaysia.
A little known company emerged as the dominant and leading smartphone player in the African continent. Transsion, a Chinese, Shenzhen-based company entered the African market in 2008 and focused on selling low--end feature phones - a strategy that is paying off. It is a listed company in China with a market cap of USD23.3 bil. In Q1 2021, 96.9% of mobile phones sold were low-end and mid-range handsets and Transsion accounted for more than 75% of sales in the feature phone category, way ahead of Nokia with 8.1% and Stylo with 1.7% of market share.
It makes the Tecno, Infinix and Itel brands. By 2017, it overtook Samsung and became a major feature phone and smartphone player with a market share of 44.3% of the African market, followed by Samsung with 22.9% and Chinese firm, Oppo, at 8.3% according to research firm IDC.
Songtradr, a music licensing marketplace, announced a USD50 mil Series D funding, bringing the Los Angeles-based company’s total funding to north of USD100 mil. The platform licenses music to high profile names for advertising, films, TV, gaming and the like, including Disney, Netflix, Apple, Coke, Amazon etc. It hosts songs from some 600,000 musicians, songwriters and rights holders. It saw revenue grow 100% y-o-y, though the amount was undisclosed.
News in Brief:
The Singapore ship, X-Press Pearl, that sank off Sri Lanka after it caught fire on May 20 while transporting chemicals caused “significant damage to the planet” according to the UN, raising concerns about a possible environmental disaster.
To test the strength and structural integrity of its most advanced aircraft carrier USS Gerald R.Ford, the US Navy undertook shock trials and triggered an explosion near its new aircraft carrier with the big blast registering as a 3.9 magnitude earthquake.
6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)
Creating art out of shadows.
ByteDance, parent of TikTok, is growing extremely quick compared to Facebook