☕️ Anwar Ibrahim declined ministerial-level benefits and facilities, donating to the poor

Rosmah allowed to travel Singapore. LinkedIn to exit social network business in China. PBOC: Evergrande risks "controllable", most real estate companies in the country are stable.

1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

Netflix Inc estimates “Squid Game” will create almost USD900 mil in value for the company. How much did it cost to produce the show? USD21.4 mil. That’s some multiplier effect right there!

USD18,208,300 — the prize money for 1st place in The International 10, Dota 2 tournament, the highest amount in e-sports history.

USD25.4 mil — Banksy’s Love is in the Bin sold at auction for more than 17.5x than it sold for just three years ago.


3. COVID-19 SUMMARY


4. IN MALAYSIA 🇲🇾

Politics and Local

  1. After signing the MoU with the government, opposition leader Datuk Seri Anwar Ibrahim declined ministerial-level benefits and facilities, including the monthly salary and allowances which come with them of at least RM33.5k per month. Instead, the funds would be donated to the poor.

    Seeing that Anwar is willing to work for free, the Malaysian Anti-Corruption Commission (MACC) jumped at the opportunity by asking Anwar to provide information regarding the “Pandora Papers” expose. Thus far, four police reports have been lodged regarding the matter.

  2. How did Malaysia win a seat in the United Nations Human Rights Council for the 2022 - 2024 term? Malaysia has a lot to do in its territories concerning human rights before advancing the global human rights agenda. The United States Department of State published a 44 pager on Malaysia’s human rights. It’s not pretty. Significant human issues include:

    • Reports of unlawful or arbitrary killings by the government or its agents;

    • Restrictions on free expression, the press, and the internet, censorship, site blocking, and criminal libel laws;

    • Substantial interference with the rights of peaceful assembly and freedom of association;

    • Serious acts of corruption;

    • Lack of investigation of and accountability for violence against women;

    • Trafficking in persons;

    • Child labour.

  3. Datin Seri Rosmah Mansor’s passport will be temporarily released for her to travel to Singapore. However, she has to return to Malaysia by Nov 24, 2021. Being the attached husband that he is, Datuk Seri Najib Razak also applied for the same. The High Court will hear the application today.

    Ini barulah Keluarga Malaysia.

    On another note, their daughter, Nooryana Najwa, is expected to deliver her second baby soon. The hearing of the Inland Revenue Board’s (IRB) appeal against the dismissal of its application for summary judgment to recover RM10.3 million in alleged unpaid taxes from Nooryana has been postponed again and again. We think the Dec 15 date will not be honoured as well, but time will tell.

  4. During his stand up comedy show, Pekan MP Najib Razak told local leaders to focus on winning over the rakyat instead of on the trappings of wealth. He envisioned that a solid and self-reliant Umno would return to power in the next general election. Potential Netflix Special material?

  5. Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said plantations jobs are ‘lucrative’, but locals are picky. Farmworkers can be paid as much as more than RM2,000 a month with incentives and overtime allowance! The basic pay is a desirable RM1,200!

    She said the government needs to expedite the process of bringing in 32,000 non-citizens to work in the plantation sector as commodity prices increase.

    YB, can we humbly suggest a faster way? Increase the salary. The plantation companies afford it.

Business

  1. Maxis and Hotlink customers can access the 5G network in Singapore, Thailand, and Indonesia when roaming in those countries as long as the customer uses supported 5G devices. When will 5G be available in Malaysia? Only 40% of Malaysians will have access to 5G in 2022.

    Fitch Solutions expect the Digital Nasional Bhd (DNB) model to be costlier to implement due to it is centrally coordinated, compared to the past where network operators bid for the network spectrum.

    Did the government butcher the 5G rollout?

  2. Malaysian Communications and Multimedia Commission (MCMC) will regulate cloud services starting from January 2022 in the name of data security, privacy protection, and quality of service. As a result, cloud service providers (CSPs) and data centre operators in Malaysia will have to apply for a licence and the renewal is on an annual basis.

  3. Touch ‘n Go eWallet has launched the DuitNow Transfer function, which means its users can link their mobile number to the Touch ‘n Go eWallet to receive funds from other internet banking accounts. If you already have a DuitNow linked to an existing bank account, you can opt to switch to Touch ‘n Go eWallet as the receiving account.

  4. The government will impose anti-dumping duties of between 7.42% to 42.08% on imports of cold-rolled coils of alloy and non-alloy steel originating or exported from China, South Korea, and Vietnam for five years. The policy is effective from Oct 9, 2021, to Oct 8, 2026.

  5. CTOS Digital Bhd netted a profit of RM11.67 mil for 3QFY21 ended Sep 30, 2021, supported by higher revenue from its Malaysian and international segments. The group declared 0.32 sen dividend per share, to be paid on Dec 10, 2021.


5. AROUND THE WORLD 🌎

  1. LinkedIn will close down its professional networking site in China this year, citing a “significantly more challenging operating environment and greater compliance requirements in China”. Instead, it plans to offer a standalone app called InJob for China that will focus solely on job seeking and does not include any social networking features. 

    LinkedIn was launched in China in 2014 and had 54 mil users in the country, making it its 3rd largest user base after the US and India. It is one of the most far-reaching foreign social media sites in China and also the last of major US social media companies to exit the China market.

  2. The Ocean Cleanup is a nonprofit that aims to remove 90% of floating ocean plastic by 2040. In its latest attempt after various failed ones, its new device, nicknamed Jenny, was launched in the  Great Pacific Garbage, a trash-filled vortex between Hawaii and California that is estimated to contain more than 1.8 tril pieces of plastic.

    Jenny was able to successfully hauled 9,000 kgs of trash out of the Pacific Ocean. The collected garbage is then brought to shore and recycled. The Ocean Cleanup uses plastic to make USD200 pairs of sunglasses, funnelling the proceeds back into the cleanup efforts. It’s estimated that about 10 Jennys would be needed to clean up 50% of the Great Pacific Garbage Patch in 5 years, with each Jenny being able to hold 10,000-15,000 kgs of plastics. 

  1. The People’s Bank of China said on Friday that indebted developer China Evergrande is its case and the risks posed by the company are “controllable” and that most real estate businesses in the country are stable. Real estate and related industries account for about a quarter of China’s GDP, according to Moody’s estimates. 

    PBOC added that authorities would protect individual consumers when it came to their house purchases, and provide financial support for the resumption of construction. The various Chinese property developers that have missed their interest and principal payment in the past weeks seem like the problem is more widespread than Evergrande’s own case. 

  2. Around 95% of Afghans aren’t getting enough food to eat according to the United Nations’ World Food Programme, and almost the entire Afghan population of 40 mil people could fall below the poverty line in coming months. Amongst the many personal tragedies faced by Afghans, a housecleaner, earning USD0.70 a day cleaning homes in wealthier neighbourhoods had to sell her 3-year old daughter to repay a debt of USD550 that she took to sustain her family when she lost her previous job. 


6. FOR YOUR VIEWING PLEASURE 👁👁

  1. A group of anti-Trump Republicans is putting up billboards across America to remind former President Donald Trump that he lost last year’s election.

  2. A huge, giant endangered sunfish was caught then released.

  3. Dramatic video shows volcano spewing ‘tsunami of lava’ as Atlantic island hit by 100 earthquakes.