☕️ Coupang - The USD50 billion Amazon of South Korea
Tesco Malaysia now known as Lotuss Stores. EPF's i-Sinar restriction-free withdrawal - sounds like a bad idea. Pfizer's vaccine in Israel: 0 deaths out of 520k people vaccinated - so far so good.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
94.9 million - total number of Disney+ subscribers globally, exceeding the company’s goal of 60-90 million subscribers by Nov 2024. New target have been set - 260 million subscribers by 2024.
-6.1% - Thailand’s economic contraction in 2020, the worst since the Asian Financial Crisis in 1997 when GDP declined by 7.6%.
3 billion years - the amount of time Earth’s 7 continents and 5 oceans took to form what it is today.
3. COVID-19 SUMMARY
4. IN MALAYSIA 🇲🇾
You know you’ve made it in life when you appear on the cover of Forbes magazine — two Malaysians rubber magnates made it, namely Supermax Corp Bhd’s Stanley Thai (est. net worth of US$1.5 billion) and Kossan Rubber Industries Bhd’s Lim Kuang Sia (est. net worth of US$1.2 billion).
On CNY eve, Finance Minister Tengku DS Zafrul Abdul Aziz announced that Employees Provident Fund (EPF) will be removing all conditions for the i-Sinar facility. In a timely manner, EPF has also identified seven assets to be put up for sale — looking to raise RM350 million to RM450 million from the sale.
Dating platform Sugarbook has been blocked in Malaysia by Malaysian Communications and Multimedia Commission as the site violates Section 233 of the Multimedia and Communications Act 1998 for improvise use of network facilities or network service. Sorry guys but if you’re looking for an alternative access — PM tepi.The MCMC and police are monitoring Sugarbook for potential illegal activities, such as prostitution, following recent uproar around the dating service. The MCMC has also warned the public to be wary of such dating sites lest they fall victim to scams or data theft.
BFM News @NewsBFM1. MOHE reports that data on the number of young women acting as "sugar babies" is dubious and possibly improbable. This comes after controversial dating service Sugarbook released a survey of the "Top 10 Sugarbaby Universities", listing institutions with the most users. https://t.co/U58XhouCdi
There is a new scam in town — IMF Grant scam. An elderly businessman parted ways with RM3.8 million over the course of July till December 2020. Standard modus operandi — scammer promised a “grant” worth US$150,000 but requires advance payments to be made. If you have to pay money to get something for free — it isn’t free!
5. AROUND THE WORLD 🌎
The FT reported that Microsoft had attempted to acquire Pinterest, but to no avail in 2020. Had it taken place, it would value Pinterest at USD51 billion. Pinterest stock price has risen by 600% in 2020 as lockdowns have contributed to a surge in its user base and revenue. Pinterest added 100 million monthly active users in 2020, with a total active monthly active users of 450 million.
New Zealand’s biggest city, Auckland, with a population of 1.7 million people, is under a 3-day lockdown after 3 members of the same family were tested positive for Covid-19. With a population of 5 million, New Zealand has reported 2,330 cases and 25 deaths since the pandemic started with 47 active cases.
The WHO told CNN that the Covid-19 outbreak could be 5x worse than what was presented by Chinese scientists. The WHO was told that there were 174 cases in Wuhan in Dec 2019. As the cases presented to WHO were likely to be severe cases, WHO modelling suggested that 15% of cases in a population are usually severe cases with the vast majority being mild cases and this brings an estimate of 1,100 cases of Covid-19 in Wuhan in Dec 2019.
Riding on Clubhouse fame, a little known China company, Agora Inc has gained USD6 billion, skyrocketed by 150% since mid January, now worth close to USD10 billion, after online chatter circulated that it is powering the world’s current hottest new social media platform. Agora provides developers with software to build real-time voice and video functions.
Coupang, the ecommerce and delivery giant from South Korea, backed by Softbank and Sequoia, is filing for an IPO to list on NYSE with plans to raise USD1 billion with a targeted valuation of USD50 billion. Founded by Harvard grad, Bom Kim in 2010, Coupang rocked the boats of family-owned retail conglomerates like Lotte and Shinsegae with its ‘Rocket Delivery’ 24 hours delivery service.
In its filing, 2020 revenue jumped by 91% to USD11.97 billion, while net losses narrowed to USD474.9 million from USD698.8 million. Its other backers include BlackRock, the world’s largest asset manager and billionaire Bill Ackman.
It’s topline growth in the past 5 years is nothing less than astounding:
2016: USD1.67 bil
2017: USD2.4 bil (+43.7%)
2018: USD4.05 bil (+68.8%)
2019: USD6.27 bil (+54.8%)
2020: USD11.97 bil (+90.9%)
In Israel, a study found that 0 deaths were recorded from 520,000 people that were given the Pfizer/BioNTech vaccine with 93% effectiveness, showing the effectiveness of the vaccine. Israel has reported >700,000 cases and >5,000 deaths from the Covid-19 virus. It has fully immunized 27% of its population, more than any other country.
City-travel/intra-city travel by air is taking another step closer to reality. United Airlines, one of the big 4 airlines in the US is making an order of USD1billion for electrical vertical takeoff and land vehicles (eVTOLS) from eVTOL startup Archer Aviation. The USD1 billion order with an option for additional USD500 million worth of aircraft will give United a fleet of 200 eVTOL aircrafts.
The startup is planning to debut its first full-scale model this year and begin passenger flight in 2024 in Southern Carolina. The aircraft is able to fly as many as 4 passengers with distances of up to 60 miles (96 km) at a speed of up to 150 miles per hour (241 km/h).
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