☕️ Bill Gates: 'I am not bullish on Bitcoin'
Watch unprecedented video of Perseverance rover landing on Mars. Oatly, the USD2 billion vegan milk company filing for IPO. Genting SkyWorld theme park set to open mid 2021.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
USD800 million is the cost to build Genting SkyWorlds, slated to open by mid 2021. It was supposed to be Fox Park but was changed after Walt Disney Co acquired Twenty-First Century Fox group back in 2018.
USD35 billion — approximate gains made by Robinhood users since inception in 2013.
USD600 million - additional rescue funds (bailout) the German federal and state government will be releasing to Genting Hong Kong Ltd, the cruise operator to keep it afloat. This is on top of USD293 million that was previously disbursed.
3. COVID-19 SUMMARY
Number of active cases in Malaysia have decreased by over 40% in the past two weeks to 30,475 active cases compared to 52,186 active cases as of 10th Feb 2021. Thank you front-liners!
4. IN MALAYSIA 🇲🇾
AirAsia Group Bhd surged as much as 16.56% to 95 sen yesterday after Stanley Choi, a well-poker player from Hong Kong emerged as a substantial shareholder with 8.96% stake. It was reported the poker player pumped in RM114.46 million in the recent private placement by AirAsia Group Bhd.
National Security Council is mulling on allowing interstate and inter-district travels for for CMO states. Beauty outlets or parlours are also under consideration to be allowed to resume business in MCO states. Decision on interstate travel for MCO states would be decided 2 days before the current MCO end on the 4th of March 2021.
Health Minister DS Dr Adham Baba said the Covid-19 vaccination process would take approximately 15 to 30 minutes including monitoring for side effects after the jab. The National Covid-19 Immunisation Programme will kick start today! The MySejahtera app has also included Covid-19 Vaccination icon on its menu for you to register — available on both iOS and Android (including Huawei App Gallery).
Key witness in 1MDB’s audit tampering trial denied being rewarded with Datukship for recording the meeting when the alleged tampering happened on 24th Feb 2016. National Audit Department’s (NAD) audit director Datuk Nor Salwani Muhammad, 54, told the court that she received the Panglima Mahkota Wilayah medal on Feb 1,2020 due to her 30 year service at the Federal Territories Ministry.
1,086 Myanmar citizens deemed as illegal immigrants by The Immigration Department of Malaysia have been deported yesterday despite High Court’s order of temporarily suspending any effort to deport these individuals for one day as the hearing resumes this morning.
Amnesty International Malaysia and Asylum Access Malaysia had jointly filed for judicial review against three respondents, namely the immigration director-general, the home minister and the government of Malaysia.
Bursa Malaysia Bhd is contemplating to consider applications to lower public shareholding spread at 15%-20% from existing requirement of at least 25%. Beginning 1st of March 2021, companies with market capitalisation between RM1 billion to RM3 billion, the acceptable minimum lower public shareholder spread is 20%. Companies with market cap of RM3 billion and above, the spread is 15%.
PSA - Yoodo users may face service disruption between 24-26 Feb 2021 due to system upgrade.
5. AROUND THE WORLD 🌎
As Bitcoin falls below USD50,000 (-15% in the last 24 hours at the time of writing), we’re just waiting for someone to declare Bitcoin as dead. Well, Bitcoin has died 401 times.
Bill Gates is not a fan of Bitcoin partly due to environmental concerns and ‘not bullish on Bitcoin’. He warned that ‘if you have less money than Elon, you should probably watch out’. Then again, Bill Gates got many things wrong before - including the importance of the Internet.
Zomato, India’s food delivery and food review startup has raised an additional USD250 million at a valuation of USD5.4 billion. This came just 2 months ago when it closed a USD660 million round at USD3.9 billion valuation. India’s food delivery market is expected to be worth USD12 billion by 2022.
Despite the allure of a large and growing market, Uber exited the food delivery market in India early last year and sold its business to Zomato. Zomato and its competitor, Swiggy dominate 80% of the market followed by Amazon, which has limited operations in parts of Bangalore.
NASA released an unprecedented video from the landing of its Perseverance rover in Mars. This is the first time a Mars-landing has ever been captured on camera. The descent into Mars takes about 7 minutes and is commonly referred to as ‘seven minutes of terror’ as there will be no communication with the rover during its rapid descent. Perseverance carries a small helicopter called Ingenuity in its belly and it will be the first ever air exploration on Mars.
Spotify, the USD65.5 billion audio streaming giant, with 345 million monthly active users and 155 million premium paying subscribers aims to double its geographical footprint into 85 more countries from the existing 90 countries that it is present and will enable it to achieve a billion users on its platform.
Oatly, the vegan milk company backed by the likes of Oprah Winfrey, Jay-Z and former CEO of Starbucks, Howard Schultz, has filed confidentially for an IPO. Based in Sweden, its products are growing in popularity with strong demand coming from millennials and Generation Z consumers that are more conscious and aware of the environment.
In July 2020, it raised USD200 million at a valuation of USD2 billion. Its sales were estimated to be USD200 million in 2019 according to The Wall Street Journal and could potentially double in 2020. Oat milk’s popularity soared by 300% in mid 2020 in the US according Nielsen.
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