☕️ Finance Minister was in hot soup over the weekend
Ahmad Mazlan said only PhD holders can understand why GE15 needs to be held soon. Sriwijaya Air Flight 182's black boxes found. Facebook and Twitter banned Donald Trump.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
Formed 420 million light years after Big Bang - the oldest and most distant galaxy ever seen, GN-Z11.
340,000 yuan (US$53,000) fine was imposed on China’s online car hailing platform DiDi Chuxing for failing to implement the government’s requirement on coronavirus prevention.
3. COVID-19 SUMMARY
4. IN MALAYSIA 🇲🇾
Finance minister Tengku Zafrul Aziz was in hot soup over the weekend as he made a posting about the remarkable level of foreign direct investment (DDI) and domestic direct investments (DDI) that the country has achieved in the first nine months of 2020 totalling RM109.8 billion.
Sven Schneider, the CEO of European Chamber of Commerce made a scathing remark on the finance minister’s claim of Malaysia being a viable investment destination.
Christien Angell Isaksen - the CEO at Collectr Sdn Bhd (a Malaysia-based start up) had mentioned the RM1.6 billion for for 1,800 jobs isn’t exactly efficient.
PM Tan Sri Muhyiddin Yassin is expected to announce stricter SOP and possibly reinstating the MCO today as the number of Covid-19 cases in the country continues to climb. The former deputy health minister, Dr Lee Boon Chye has suggested to do contact tracing as soon as possible by hiring 10,000 special recruits.
During the first trading week of the year, investors on Bursa Malaysia shorted 284.7 million shares of the big four glove counters, namely Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd. Total value shorted is RM1.7 billion.
A Malaysian Redditor shared the plane view of Kelantan on Saturday (9th Jan 2021). Hope the condition will get better over the coming days.
Singapore government will be submitting the claims on the compensation for the termination of Kuala Lumpur-Singapore High Speed Rail (HSR) project by the end of the month. No amount has been mentioned thus far but Minister in PM’s Department (Economy) Datuk Seri Mustapa Mohamad mentions the compensation should be lower than S$270 million incurred by Singapore. We shall see how much of your tax money goes to this project.
Perikatan Nasional is left with 110 MPs after Machang MP Ahmad Jazlan Yaakub withdraws his support, five days are quitting his GLC post. Meanwhile, Ahmad Mazlan defended the call for GE15 to be held in Q1 of 2021, saying PhD holders will understand. What kind of logic is that? The same guy said he makes GST-free mixed fried rice for his family once in a while back in 2015 when GST was first implemented.
5. AROUND THE WORLD 🌎
On 9th Jan, Sriwijaya Air Flight 182 carrying 62 people onboard (including 12 crew) crashed into Java Sea minutes after takeoff from Jakarta as it disappeared from radar screens. The Boeing’s 737’s black boxes have been located. A black box contains data about the plane, providing vital information in air accident investigations.
Facebook has decided to suspend Donald Trump indefinitely, at least until his term is over. In a more drastic measure, Twitter has suspended outgoing US President Donald Trump’s account permanently, citing the risk of further incitement of violence after a close review of recent tweets.
This was Elon Musk’s response after being told on Twitter he is the richest person in the world, with net worth of US$190 billion. Just another day for him.
Boeing has been ordered to pay US$2.5 billion to settle criminal charges that it hid information from safety officials about the design of its 737 Max planes. About US$500 million will go to the families of the 346 people that were killed in two separate tragedies in Indonesia (2018) and Ethopia (2019).
In his latest address to the Workers’ Party, North Korea’s president Kim Jong-un will expand the country’s nuclear arsenal and maintains that US is his country’s “biggest enemy” regardless who is the president.
Money printing machines are expected to be turned on once Joe Biden takes office as he has called for trillions of dollars in immediate further fiscal support including boosting stimulus checks to US$2,000. Fun fact - about 60% of all central banks around the world use US dollar as the foreign exchange reserves.
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