☕️ CapitaLand to form Asia's largest real estate investment manager with USD85.7 bil AUM

RM10 mil special fund to compensate severe effects post Covid-19 vaccine. Turkish Lira plunged 14% after sudden removal of bank governor.AstraZeneca vaccine shown to be safe in large phase 3 trial.

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1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

566% spike (intraday) in searches for Bitcoin in Turkey after the country’s currency, Lira dropped 14% following the firing of a central bank governor. To people in countries with repressive economic regimes and shaky currencies, Bitcoin acts as an alternative for them to ‘store’ their hard-earned funds and energy in something that is free from government incompetence and corruption.

1.3 billion of fake accounts were taken down by Facebook between Oct to Dec 2020.

RM90.45 million of unemployment aid were distributed by SOCSO via its Employment Insurance System (EIS) in Q1 of 2021.


3. COVID-19 SUMMARY


4. IN MALAYSIA 🇲🇾

  1. Department of Veterinary Services (DVS) has declared Lay Hong Bhd’s Jeram 1 farm in Selangor free of Salmonella Enteritidis (SE), suspension have since been lifted. DVS believes the contamination could have occurred elsewhere as the eggs made their way to the market.

  2. The government has allocated special fund of RM10 million to compensate anyone suffering severe side effects post Covid-19 vaccine, up to RM500,000 per person. The extreme scenario of either death or permanent disability can receive RM500,000.

  3. Dataprep Holdings Bhd hits limit down (-30%) yesterday, closing 75 sen lower at RM1.75 after share price soared as much as 23x since a little more than a month ago from 16.5 sen on Feb 11 2021. Bursa Malaysia had already issued warning to investors to exercise caution in trading the company’s shares a couple of weeks back. What goes up, must come down..

  4. Tan Sri Mokhzani Mahathir has been named the chairman of Maxis Bhd and will assume his new role on April 22 2021. Meanwhile, Tan Sri Shahril Shamsuddin will be retiring from Sapura Energy Bhd as its president and Group CEO and will be succeeded by Datuk Mohd Anuar Taib effective March 23, 2021.

  5. GHL Systems Bhd is partnering with fintech company Split to offer a buy now, pay later (BNPL) service for its merchant base in Malaysia. If you spot a GHL terminal while doing your shopping, you can now select to pay your total bill with a choice of up to three monthly instalments.

  6. The collapse of the crane at the Sungai Besi Uku Kelang Elevated Expressway (SUKE) near Cheras has caused three deaths with the driver of an unlucky car gravely injured. Two other works have been rescued with minor injuries. Stop work order has been issued by the authorities.


5. AROUND THE WORLD 🌎

  1. Singapore’s CapitaLand, one of Asia’s largest real estate companies, backed by Temasek, Singapore’s sovereign wealth fund, announced that it plans to split into 2 units - one to focus on investment management and the other to focus on property development. Its real estate investment trust, investment management and lodging units will be run by its new entity: CapitaLand Investment Management (CLIM) and its real estate arm to be privatised under CLA Real Estate Holdings

    CLIM’s listing will make it the largest real estate investment manager (REIM) in Asia with assets under management (AUM) of SGD115 bil (USD85.7 bil) and 3rd largest REIM globally . CapitaLand has presence in over 230 cities across more than 30 countries. Its largest portfolio, SGD43 bil or 37% of its AUM, is concentrated in China, followed by Singapore with AUM of SGD39 bil making up 34% of its total portfolio. 

  2. Amazon-backed food delivery firm, Deliveroo, has finally announced its listing on the London Stock Exchange later this year with a targeted valuation of GBP8.8 bil (USD12 bil). It will sell shares to the amount between GBP1.5 bil (USD2 bil) to GBP1.8 bil (USD2.5 bil), of which GBP1 bil (USD1.4 bil) will go to Deliveroo and the rest going to existing shareholders. The founder, William Shu, will retain a stake of between 6-7% of the company, valuing it at least USD700 mil

  3. Turkey’s currency, the Lira, plunged as much as 15% when markets opened following President Tayyip Erodgan’s shock weekend decision to fire Turkey’s hawkish bank governor, Naci Agbal, and install a like-minded ally, Sahap Kavcioglu, that is considered to be more dovish and a critic of high interest rates. This marks the 3rd time President Erdogan fired a central bank chief abruptly since mid-2019. 

    Agbal’s earlier efforts have helped Turkey to address its balance of payment crisis given its depleted FX reserves and regained policy credibility, which was all reversed with Erdogan’s new appointment. The lira has lost 50% of its value since its 2018 currency crisis. 

  4. Could former President Trump be responsible for the growing violence and anti-Asian American sentiment in the US? To an extent, he could be at fault. A peer-reviewed study by researchers in the University of California, San Francisco, found that Trump's Mar 16 2020 tweet was directly responsible for the spike in anti-Asian hashtags on Twitter. 

    The researchers analysed nearly 700,000 tweets that used either ‘#covid19’ or ‘#chinesevirus’ between Mar 9 and Mar 23 and found that 50% of the tweets that used ‘#chinesevirus’, and 20% of tweets that used ‘#covid19’ showed anti-Asian sentiment. Trump has defended his use of the term and also openly used terms like ‘Chinese virus’ and ‘kung flu’ during his presidential campaign last year. 

  5. A large phase 3 trial in the US with 32,449 participants has shown that the Covid-19 vaccine developed by AstraZeneca/Oxford is 79% effective in preventing symptomatic illness and 100% effective against severe disease and hospitalisation, further reaffirming the efficacy and safety of AstraZeneca’s vaccine in light of recent event that this vaccine caused blood clots in the recipients. Germany, France, Italy and Spain are among the European countries to resume the use of this vaccine after Europe’s drug regulator said its initial investigation on the potential side effects concluded the shot is indeed safe and effective. 

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