☕️ Former PM Mahiaddin WTF Statement: PH with the support of kleptocrats could return to govt. Isn't Bersatu in bed with these kleps?

Backlog of Covid-19 deaths in MY due to manpower constraints.Carmat-the company that creates artificial hearts for heart patients.Bitcoin could save El Salvador citizens USD400 mil in remittance fees.

1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

Three mil adolescents aged 12 to 17 in Malaysia are set to receive the Covid-19 jabs before the next schooling sessions begin in January.

750,000 frontline workers of Amazon in the US will benefit from Amazon’s latest scheme to cover the cost of college tuition for the workers. Amazon is expected to spend about USD1.2 bil on this scheme.

RMB117.13 tril (USD18.1 tril) - mobile payments transaction value in China in Q2 of 2021.


3. COVID-19 SUMMARY

  • SOP UPDATE: Schools in all but Phase 1 of the National Recovery Plan will be reopened in stages from Oct 3, 2021. Students won’t be required to wear uniforms to school this year.

  • Langkawi Travel Bubble SOP — Only open to fully vaccinated individuals. If you’re travelling by flight, you only need PDRM’s permission. However, if you’re travelling to the island by land, you need PDRM’s permission and travel arrangement needs to be made via travel agencies.

  • Pangkor Island may be opened to visitors (Travel Bubble #2) as soon as Nov 1, 2021, pending the green light from National Security Council (NSC).

  • The sudden increase of Covid-19 related deaths (592) reported on Sep 11, 2021, were due to backlogs. The backlogs were caused by delays in investigating the deaths on the ground due to workforce constraints.

  • Covid-19 deaths among vaccinated are rare, making up 4.9% of the total deaths recorded (at the time of reporting). Thus, while the data shows a disproportionate number of vaccine breakthrough deaths involve Sinovac vaccine recipients, it is unclear whether it’s due to the vaccine itself or other factors.


4. IN MALAYSIA 🇲🇾

Politics and Local

  1. WTF statement of the month, this time by former PM Muhyiddin Yassin.

    “Secondly, Pakatan Harapan with the support of the kleptocrats could return to the government, with Bersatu becoming the opposition.”

    Isn’t Bersatu in the same team as the kleptocrats now? How does he have the audacity to spew that statement?

  1. Prime Minister Datuk Seri Ismail Sabri Yaakob had announced the Cabinet’s plans to carry on several Parliament reforms. They are as follow:

    1. The tabling of an anti-party hopping law in Parliament.

    2. Expedition of Undi18.

    3. Limiting a prime minister’s term in office to 10 years.

    4. Equal representation from both government backbenchers and opposition MPs in parliamentary special select committees.

    5. All draft legislation, including the budget bill, will be discussed and agreed upon first.

    6. Inclusion of opposition MPs in the National Recovery Council.

    7. The opposition leader will be given the salary and amenities equivalent to a minister.

    The government and Pakatan Harapan is set to sign the historic bipartisan cooperating memorandum at 5pm today to shore up the nation’s political stability and to work on economic recovery efforts.

  2. Dewan Rakyat Speaker Datuk Azhar Azizan Harun released the list of media agencies allowed to cover sitting (beginning today!) from inside the Parliament grounds — only 16 including government media agencies.

    A few major news outlets such as Utusan Malaysia, New Straits Times, Malay Mail, Free Malaysia Today, and The Edge Markets are not on the list. Media groups are seeking an explanation, saying it concerns press freedom.

  3. Deputy Minister in the Prime Minister's Department (Religious Affairs) Ahmad Marzuki Shaary shared that the government drafted four new syariah laws, including a bill on control and restrictions on the development of non-Muslim religions.

    According to its Chief Minister Datuk Seri Hajiji Noor, the Sabah government will reject the proposed bill as the state government upholds the freedom of religion principle as stated in the Federal Constitution and the Malaysia Agreement 1963 (MA63).

  4. The Pakatan Harapan (PH) presidential council announced six new appointments in PH to strengthen the coalition’s work in Parliament, in the field, and the 15th general election.

Business

  1. Top Glove Corporation Bhd shareholders can sleep soundly as United States Customs and Border Protection (CBP) has cleared the rubber glove maker of the ‘forced labour’ ban. The agency said that its findings showed that Top Glove is no longer in violation of Section 307 of the Tariff Act of 1930 and the firm’s disposable gloves would be admissible at all US ports of entry from Sep 10 onwards.

  2. AT Systematization Bhd (AT) wants to acquire 25.9% in component and packaging manufacturer D’Nonce Technology Bhd for RM64.96 million cash. The offer is at a whopping 80 sen per share, or 27 sen or 50.94% premium to the D’Nonce’s closing price of 53 sen per share on Friday (Sep 10).

    AT expects to reap business synergy by working together between both groups of companies. Fun fact — D’Nonce’s share price had never exceeded 65 sen since its listing in 2006.

  3. Malaysia registered foreign capital inflows of RM7.7 billion for August 2021. Foreigners were net buyers in the ringgit bond market and Malaysian equities with RM6.6 bil and RM1.1 bil, respectively, in July 2021.

    Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said FDI inflows set the tone for Malaysia’s stronger economic recovery in the fourth quarter of 2021.

  4. Senior Works Minister Datuk Seri Fadillah Yusof said there are a serious shortage of 3D (dirty, difficult and dangerous) workers in the country's construction sector as locals are not keen to take on 3D jobs. The minister said it remains a challenge to get foreign labour at the moment due to the Delta variant threat.


5. AROUND THE WORLD 🌎

  1. Carmat, a French company founded in 2008, has developed the world’s most advanced artificial heart. This provides a second lease of life for patients suffering from advanced heart failure and serves as long-term support or as a “bridge to a heart transplant”. However, due to the shortage of donors, only around 5,500 heart transplants are carried out annually. 

    The artificial heart imitates the functions of the human heart, consisting of an implanted prosthesis, external equipment including batteries and a hospital care console to track the functioning of the heart.  Currently, Carmat targets its product at those in greatest need - the 5% of patients who are suffering from “terminal” or “endstage” heart failure. 

    In Mar 2020, it announced that a patient had been fitted with their artificial heart and had been supported for 2 years, calling it a “very encouraging” development. 

  2. Harvard University’s USD42 bil endowment fund, the biggest globally, announced it would end investment in the fossil fuel industry, following pressure from environmental activists. In a statement, Harvard Management Company, the entity that oversees the endowment fund, said it would not make fossil fuel investments in the future and noted that the fund had no direct investment in companies that explore or develop further reserves of fossil fuels. However, its legacy investment as a limited partner in various private equity funds with holdings in the fossil fuel industry, which make up less than 2% of its fund. 

  3. Deals:

    1. Mastercard has agreed to acquire CipherTrace for an undisclosed amount, the latest sign of major companies warming up to cryptocurrencies. CipherTrace develops tools that help businesses and law enforcement analyse blockchain activities and root out illicit digital currency transactions. 

    2. In an unusual acquisition of a media company, banking giant JP Morgan is acquiring The Infatuation, which owns the Zagat brand websites and apps that provide dining guides in cities worldwide. JP Morgan will push this newly acquired service to its big spenders that like to travel and dine and giving them special access to The Infatuation’s curated experiences. The Infatuation previously purchased Zagat from Alphabet, the parent of Google. The terms of the deal are undisclosed. 

  4. El Salvador, the first nation to make Bitcoin legal tender, received nearly USD6 bil in remittances in 2020, which accounted for about 23% of its GDP. President Nayib Bukele estimates that money service providers like Western Union and MoneyGram will lose USD400 mil a year in commissions thanks to Bitcoin adoption, cutting off these middlemen. Well, that’s USD400 mil more into the pockets of the people of El Salvador.

  5. Despite pulling out from Afghanistan, the US destruction still continues. It targeted an aid worker with a drone strike in Kabul, mistakenly believing he was an ISIS-K militant preparing for a terror attack, killing 10 Afghan civilians, including 7 children. 


6. FOR YOUR VIEWING PLEASURE 👁👁

  1. A diver getting hugged by a wild grey seal.

  2. Imagine discovering a workstation behind a socket in your rented house.