☕️ Bill Gates: The next 4 to 6 months could be the 'worst of the pandemic'
Budget 2021 finally passed, PN govt remains intact. Tech and social media giants to disclose the treatment of our harvested data in 45 days. See Google searches trending in 2020.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
RM3.6 billion of additional tax assessments by Inland Board Revenue is being challenged by Petronas and three other companies.
333,383 tonnes of CPO were imported by India from Malaysia in November 2020, approximately 30 times as heavy as The Eiffel Tower (10,100 tonnes).
274 journalists (at least) are in jail as of Dec. 1 2020. Protests and political tensions were the cause of many arrests, with the most made in China, Turkey, Egypt, and Saudi Arabia.
3. COVID-19 SUMMARY
4. IN MALAYSIA
Tan Sri Muhyiddin Yassin’s government clinched a razor thin win for Budget 2021, with 111 MPs voted in favour of the budget. Perikatan Nasional remains. FYI - Dewan Rakyat has 220 members following the death of 2 MPs earlier in the year. The RM322.5 billion budget would be the biggest in the country’s history.
Prime KL locations are always in demand with two businessmen snapping RM180 million worth of properties in Bukit Damansara and Bukit Kiara areas.
RHB Bank Bhd closed lower yesterday on news that Aabar Investments PJS (Abu-Dabhi based fund) is selling its remaining 4.23% stake for close to RM1 billion.
Fraser & Neave Holdings Bhd (F&N) forks out RM60 million in cash to buy 3 F&B companies - Sri Nona Food Industries Sdn Bhd, Sri Nona Industries Sdn Bhd and Lee Shun Hing Sauce Industries Sdn Bhd.
In a move to cleaner-energy, Tenaga Nasional Berhad (TNB) says coal-fired power plant will contribute no more than 20% of its revenue beginning 2030 onwards. Just last week, CIMB Group Holdings Bhd has committed to phase out coal financing by 2040.
5. AROUND THE WORLD
The darkest moment of Covid-19 isn’t here yet. Bill Gates says next 4 to 6 months could be ‘worst of the pandemic’. Earlier during the pandemic outbreak, The Bill & Melinda Gates Foundation donated USD100 million for coronavirus relief.
SpaceX is in talks to raise a new round of funding to close in January, seeking to double its valuation to USD92 billion. It raised USD1.9 billion back in Aug,
The SPAC, ‘blank-check’ company frenzy continues. Helicopter taxi company, Blade, or the Uber for helicopter will be going public through a merger with a SPAC, valuing it at USD825 million. This is close to 6x its valuation of USD140 million back in 2018.
Warren Buffett compared the struggles and shutting down of small businesses due to Covid-19 ‘an economic war’ and urges the US Congress to extend small aid to small businesses as they cope to the pandemic.
US Federal Trade Commission (FTC) has ordered the giant tech companies to explain and disclose how they use the data harvest from us, their users. These companies, Amazon, TikTok, Facebook, Whatsapp, Discord, Reddit, Snap, Twitter and YouTube are given 45 days to revert.
Amazon is beginning to feel the threat of its USD130 billion competitor - Shopify. Shopify sells software tools for people to build e-commerce sites easily, making it an alternative to Amazon for small businesses to sell online. Amazon is planning a defensive move and might be launching a similar service. However, it previously shut down a service called Webstore in 2015 - the exact service that went up against Shopify.
See how Google searches trend throughout 2020.
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