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Ex-PM Najib got fined RM3,000 for violating SOP back in March. US to support waiver of IP rights on Covid-19 vaccine to help poor countries. Jeff Bezos' Blue Origin now open to fly tourists to space.

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RM12.86 billion worth of wage subsidy has been approved under the Wage Subsidy Programme 1.0 (PSU1.0).

Environmental, social, and governance (ESG) is picking up pace with as much as USD240 billion worth of debt has been issued companies according to Wall Street Journal.

9 billionaires have been produced by one company — the world’s largest manufacturer of batteries for electric vehicles (EVs), Contemporary Amperex Technology (CATL).


  • Former PM Najib Razak was fined RM3,000 for violating SOP during his chicken rice lunch. The shop owner got fined RM10,000.

  • Pharmaniaga Bhd will be offering 2 million Covid-19 vaccine doses to economic front liners and foreign workers.

  • Health Minister DS Dr Adham Baba said 3.52 million doses of Covid-19 vaccines from Pfizer, Sinovac and AstraZeneca will be arriving this month.


  1. Three key economic figures were released yesterday:

    • Overnight Policy Rate to remain at 1.75% as an effort to support the economy’s recovery (your FD rates remain the same).

    • Malaysia’s industrial production index surged 9.3% y-o-y in March 2021, driving mainly by manufacturing and electricity indices.

    • Malaysia’s March 2021 manufacturing sales grew 15.3% y-o-y to RM126.9 bil.

  1. Mitsui & Co is looking to take IHH Healthcare Bhd private in a RM49 bil buyout. Private equity firms have approached the Japanese trading house to buy out IHH’s over shareholders. Khazanah Nasional Bhd which is the second largest shareholder has been approached on this matter as well. The IHH group owns and operate the famous chain of private hospitals such as Pantai and Gleneagles.

  2. Former CIMB chairman Dato’ Seri Nazir Razak has questioned why no supertaxes were imposed on the glove companies which made billions of super profits from the pandemic to help the country to pay for the cost of the pandemic. Nazir said the taxation systems have to be more progressive to afford more effective safety nets and redistribution policies.

  3. Permodalan Nasional Bhd (PNB) chief investment officer for private and strategic investments Rizal Rickman will be replacing Tan Sri Dr Zeti Akhtar Aziz as the chairman of Sime Darby Property Bhd. While the sovereign fund also confirms former justice Tun Arifin Zakaria will become the chairman of PNB effective May 6 2021.

  4. Cahya Mata Sarawak Bhd (CMS) fell 33 cents (16.25%) to close at RM1.70 after allegations of possible financial mismanagement in relation to the company's investments and operations. CMS’s Group CFO has been suspended for 30 days with immediate effect.

    Deputy group chairman Datuk Seri Mahmud Abu Bekir Taib has accepted a request from the board for him not to take the leave of absence as announced in April as the board concluded there was no basis to the allegation of possible conflict of interest involving Bekir and former chief information officer Karl Vink @ Khalid Abdullah.


  1. Space tourism is here. Jeff Bezos’ space venture Blue Origin will launch its first astronaut crew to space on July 20 on its New Shepard rocket, carrying up to 6 people at one time. In its previous test flights (it has yet to fly passengers on board), it reached an altitude of 100km. The tickets will be sold via a public auction and could go as high as USD50,000. The capsule has massive windows to give passengers a view, spending a few minutes in zero gravity before returning to Earth.

    This announcement was made on the 60th anniversary of the Mercury-Redstone 3 flight, which carried astronaut Alan Shepard, on the first human spaceflight in 1961, after whom Blue Origin named its rocket. July 20 will mark the 52nd anniversary of the Apollo 11 moon landing. 

  2. A group of investors led by US merchant bank GSV’s CEO Michael Moe has entered into exclusive negotiations to acquire Forbes Media LLC, the business news and information publisher known for its eponymous flagship magazine with 6 mil readers and annual list of world’s wealthiest people. The price tag - USD650 mil.

    Back in 2017, HK-based Integrated Whale Media purchased 95% of the company valuing it at USD475 mil, with the balance 5% owned by the Forbes family. Catching up with time amid declining print revenue, its digital platform now reaches more than 140 mil people with 40 global editions.

  3. he US announced on Wednesday that it would support the temporary waiver of IP provisions to allow developing nations to produce Covid-19 vaccines created by pharma companies. Praised by the WHO, however, this move is opposed by the pharma companies and also the EU, although it has expressed that it is ready to discuss the waiver of IP rights. Although making the tech accessible legally to others to manufacture, the supply chain is another challenge as the production of the vaccine involves complex scientific process, hard-to-find raw materials, technical know-how and proper facilities and equipment to manufacture. 

  4. As much as Tesla has built a successful car company, its profitability is not driven by its core business (ie. the selling of cars), but through the sale of regulatory credits, which other companies will buy from Tesla to offset their carbon emission when they aren’t able to produce enough low-emission or zero-emission vehicles on their own to satisfy environmental regulations around the world. 

    Amongst Tesla’s biggest customers, Stellantis (formed recently through the merger between Italy’s Fiat Chrysler and France’s PSA Group) has announced that it will be able to comply with European emission standards without purchasing credits from Tesla and other manufacturers. Fiat Chrysler agreed to purchase USD2.4 bil worth of emission credits from Tesla from 2019 to 2021. In Q1 2021, Tesla made USD518 mil in credit sales, whilst its profit was USD438 mil. In other words, stripping these credits off, Tesla will be making a loss from selling cars. That’s quite a hole for Tesla to fill, as its customers start to reduce their reliance on emission credits. 

  5. On the same day Bill and Melinda Gates announced their divorce, Bill Gates moved stock worth USD2.4 bil from Cascade investment, a holding company of Bill Gates to Melinda. This includes stake in the biggest owner of US car dealerships, a Coca-cola bottler, a Mexican broadcaster and a railway company. Bill Gates currently owns 1% of Microsoft, the company he founded, and is worth an estimated USD144 bil

    In a 1997 Time magazine interview with Bill Gates, he shared that he has an arrangement with Melinda in which Bill could spend a long weekend every year with his ex-girlfriend, Ann Winblad. Bill and Ann broke up in 1987 but remained close. Before BIll married Melinda, he called Winblad to seek for her approval.


  1. Another one of Apple’s cash cows — AirPods

  2. Pandelela Rinong clinching Malaysia’s first ever gold at Diving World Cup