☕️ Dr Adham 'Air Suam' Baba wants to create 5 unicorns in 5 years
MOH launched a sleek new Covid-19 data site - but not done by MOH. Man City football squad cost €1.08 bil, the highest in Europe. Value of all unicorns in the world combined = 1 Apple.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
Bank Negara Malaysia maintains the overnight policy rate (OPR) at 1.75%.
£115,000 — the price of a city-centre parking space in Bath, sold just two days after being listed online. The last time a space became available in the same garage was about eight years ago.
The top 10 costliest football squads in Europe according to the annual CIES Football Observatory analysis on transfer spending. Manchester City took the top spot, committing €1.08 billion (approximately RM53.01 bil) to sign their current players (possible add-ons included).
3. COVID-19 SUMMARY
The Ministry of Health (MoH) has launched a new website to be the single source of truth for all Covid-19 data in Malaysia. Check it out and it’s pretty nifty! And buy these guys a coffee. Whenever the government delivers a good job, more often than not, we got to be suspicious.
MoH is exploring other drugs apart from Baricitnib to treat Covid-19 patients in Malaysia.
Health Minister Khairy Jamaluddin said about 86% of Covid-19 brought-in-dead (BID) cases were not under any medical care.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pic) said the Domestic Trade and Consumer Affairs Ministry and the Ministry of Health are working on reducing the price of Covid-19 self-test kits by the end of the year.
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4. IN MALAYSIA 🇲🇾
Politics and Local
Kuala Lumpur High Court passed a landmark decision yesterday. The court ruled that Malaysian mothers with a foreign spouse can now automatically pass on their citizenship to their children born outside Malaysia. Previously, only Malaysian men could confer their citizenship automatically even if the child is born abroad to a foreign spouse.
Businessman Ahmad Noor Azhar Muhammad, 33, has been charged with the murder of 64-year-old security guard S. Thava Sagayam, whom Azhar assaulted back in December 2020. The security guard succumbed to the injuries sustained from the assault in August 2021.
The Court of Appeal allowed the Raub durian farmers’ appeal and granted the leave on Sept 8, resulting in the High Court’s decision being set aside. The Court of Appeal also granted a stay order pending a substantive hearing of the judicial review application before the High Court.
The stay order meant that the authorities and Royal Pahang Durian Resources PKPP Sdn Bhd were prohibited from carrying out any enforcement against the farmers and restricting their daily work and movement at the farms before the disposal of the matter.
Padang Rengas MP Datuk Seri Mohamed Nazri Abdul Aziz said it would be a waste if Prime Minister Datuk Seri Ismail Sabri Yaakob does not tap Datuk Seri Najib Razak’s experience and appoint Najib as an economic adviser with ministerial status. Coming from the guy who also called Najib a “b******”.
What’s the word to describe the characteristic? We’ll give you a hint. It starts with an H and continues with -ypocrite. Can you guess?
Former prime minister Najib Razak may need to cut down his budget for his PR team as he has been ordered to pay RM1.69 bil of income tax arrears to LHDN after the Court of Appeal affirmed the High Court’s decisions. His son Mohd Nazifuddin has to do the same as well but a lower amount of RM37.6 mil.
Justice Abdul Karim Abdul Jalil said there was no merit in the appeals. He continued that outstanding tax must be paid after an assessment was made and a notice sent to taxpayers within a specified time.
Najib Razak perhaps had excellent foresight because he claimed to have received credible information that IRB officers and politicians had abused their authority and used false documents to persecute him in a Facebook post last night. He lodged a police report on the matter.
He may want to consider becoming an author after his retirement, writing crime thrillers.
Minister Datuk Seri Dr Adham Baba said his ministry, the Ministry of Science, Technology and Innovation (MOSTI), aims to create five unicorn companies in the country in the next five years, with a straight face. MOSTI had allocated RM123 mil in 2021 for the development of unicorn companies.
Let’s assume the allocation remains the same for the coming 5 years, totalling RM615 mil. Can RM615 mil become RM20.7 bil? You tell us.
Fun fact: All the unicorns in the world = One Apple
Analysts have mixed opinions on AirAsia Group Bhd, following their larger-than-expected half-year loss of RM580 mil.
CGS-CIMB’s Raymond Yap expects the group’s losses could remain significant in FY22 and may be classified as a PN17 company by Bursa Malaysia, which may result in institutional funds selling the stock. In addition, Kenanga Research is wary of the carrier’s liquidity and capital adequacy issues via cash calls. The share closed at RM0.92 in yesterday’s trading.
The rating and the target prices (TP) were attained with the help of the Stockbit team. Stockbit shares research reports of companies via their Telegram broadcast daily when they are available.
Several key management personnel of Dagang NeXchange Bhd’s newly acquired semiconductor subsidiary SilTerra Malaysia Sdn Bhd has been arrested to assist in the Malaysian Anti-Corruption Commission’s (MACC) investigation for possible graft.
The Economic Club of Kuala Lumpur Advisory Council chairperson Abdul Wahid Omar warned that the economy could face ‘untold damage’ if the government fails to address allegations of forced labour. Wahid has urged the government to engage with the US government and look into the policy on the appointment of foreign recruitment agents.
Four Malaysian companies remain listed under the Withhold Release Orders (WRO) by the US Customs and Border Protection (CBP) — Sime Darby Plantation, FGV Holdings, Top Glove and TG Medical. These four firms represent two major areas of export which are palm oil and rubber gloves.
5. AROUND THE WORLD 🌎
Bill Gates’ investment firm, Cascade Investment LLC, will acquire a 23.75% stake in Four Seasons Co. from Saudi Arabian billionaire Prince Alwaleed bin Talal’s Kingdom Holding Co.’s for USD2.2 bil. This transaction values the company with an enterprise value of USD10 bil and takes Cascade’s stake up to 71.25% post-acquisition.
Cascade first invested in the company in 1997 when it was publicly traded, which was taken private in 2007. It now manages 121 hotels and resorts as well as 46 residential properties in 47 countries.
Spain’s top soccer league La Liga announced that it would offer NFTs for all its players and has teamed up with French startup Sorare, using its platform to let users trade digital player cards and organise fantasy football tournaments. La Liga and Sorare have entered into a long-term, exclusive licensing agreement where La Liga will receive a royalty on sales, and Sorare has paid a minimum guarantee to clinch the exclusivity.
Launched in 2018, Sorare has more than 500,000 registered users and has processed more than USD130 mil in sales on its platform in 2021 and expects to exceed USD200 mil by year-end. The startup is reported to be raising USD530 mil at a valuation of USD3.8 bil.
Sea Ltd, the owner of Shopee, is seeking to raise USD6.3bil to fuel its global expansion plans in Latin America, Europe, India, and also its expansion into the food delivery service vertical in Southeast Asia. The tech giant is offering to sell 11 mil shares worth USD3.8 bil and issue USD2.5 bil of equity-linked debt. This equity raise will be the biggest of the year and since Chinese e-commerce platform operator, Pinduoduo’s USD4.1 bil raise in Nov 2020.
Fidelity Investment has once again slashed its estimate of Jack Ma’s Ant Group Co.’s valuation for at least the second time this year. The money manager’s valuation of Ant at the end of June implied a total valuation of USD78 bil, down from USD144 bil in February and USD235 bil just before Ant’s public listing that Chinese regulators abruptly suspended.
NASA has collected its first Mars sample - a finger-wide chunk of rock. To get it back to Earth, it will first need USD4 bil to fund the return project and estimated to take 10 years, with the launch as early as 2026 and with the samples land on Earth in 2031.
Deep-sea fisherman, Roman Fedortsov, works on a fishing trawler and often catches fish from the deep sea. Many of the fishes he caught look monstrous and grotesque, like straight outta ‘Alien’ movies. If you are mentally ready to view it, check out his Instagram page here.
6. FOR YOUR VIEWING PLEASURE 👁👁
The rakyat wants a country that is ‘bebas rasuah’, not ‘bebaskan perasuah’.
Rolex doesn’t sponsor football because it is not for the masses. Another fact: Rolex is a non-profit organisation, as it’s owned by the foundation of its founder that has no shareholders.