☕️ Former PM Najib Razak served with bankruptcy notice by LHDN over RM1.74 billion income tax in arrears

AirAsia Digital seeking to raise USD300 mil in funding. Google won against Oracle's USD9 bil copyright infringement claims over Android. The USD6 bil Winklevii brothers (Facebook remember?)

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Only 47% of Malaysian firms were well-prepared for the Covid-19 pandemic according to a survey by PwC.

159 original pieces were released by Netflix from January to April 2021 this year, compared to 180 in the same period last year.

USD 2 trillion — market cap of cryptocurrency hit all time high on Monday according to data and market trackers CoinGecko and Blockfolio.

USD33 trillion - combined market cap of companies in the S&P 500 index, more than 150% of US GDP of USD21.5 trillion.



  1. Volcano Bhd made a strong debut on the ACE Market yesterday jumping as much as 101% to hit an intraday high of 70.5 sen (listing price was 35 sen) before closing the day at 48.5 sen. The nameplate maker’s IPO was oversubscribed by 176.6 times.

  2. Berjaya Corp Bhd (BCorp) fell as much as 10.23% in intraday trading yesterday after Tan Sri Vincent Tan was redesigned as its non-executive chairman on Monday. The group announced the move was to transform Corp into an institutionalised corporation managed by professionals.

  3. InvestKL is aiming to secure 10 multinational corporations (MNCs) and fast growing companies to bring in at least RM1 billion worth of investments in 2021. Last year, InvestKL managed to attract 12 of these companies which had committed to investments totalling RM1.73 billion.

  4. Human Resources Minister Datuk Seri M. Saravanan has conceded to the fact that the monthly salary of between RM1,000 and RM1,500 reportedly received by the majority of fresh graduates is no longer enough in today’s economy but subsequently asked the jobless not to be picky.

  5. AirAsia Group Bhd is in talks to raise USD300 million to expand its digital business arm AirAsia Digital. The fundraising would involve issuances of new shares in the digital unit.

    Group CEO Tan Sri Tony Fernandes has vowed to re-hire close to 2,000 employees that we retrenched last year once the airline business starts to pick up.

  6. A bankruptcy notice has been issued by the Inland Revenue Board (IRB) to former prime minister DS Najib Razak for the arrears of RM1.7 billion. The High Court has fixed June 11, 2021 to hear Najib’s bid to stay the court's order for him to settle amount.


  1. The USD’s share of global reserves has decreased to its lowest level since 1996, according to the International Monetary Fund (IMF) when it released figures on central banks’ forex holdings. The USD now stands at 59% of global reserves as at Dec 2020 and was as high as 73% at the turn of the millennium. Central banks are the largest players in the forex market, overseeing nearly USD12 tril in reserves, so its holdings are closely watched by the market.

    With the rate USD is getting debased, it wouldn’t be too hard to imagine central banks to potentially include Bitcoin into its reserves.

  2. A landmark, 10-year legal battle between Google and Oracle has ended after the US Supreme Court ruled in favour of Google that it did not commit copyright infringement against Oracle when it copied snippets of its programming language to build its Android operating system. Oracle was seeking USD9 bil from Google arising from the alleged copyright infringement. 

  3. The identical twins, Winklevii brothers, Tyler and Cameron Winklevoss, famous for the legal tussle with Mark Zuckerberg over the creation of Facebook, have now emerged victorious in the emerging digital asset industry. After settling (or losing, depending on how one wants to see it) with Mark Zuckerbeg about 12 years ago for USD65 mil in stock and cash, they invested USD10 mil into Bitcoin in 2012 when it was USD8 (Bitcoin price today: USD58,000, a 7,250x increase). It’s rumoured they have accumulated around 100,000 Bitcoin. They established their own digital asset exchange, Gemini, and are also active investors in the digital asset industry. Their combined net worth is estimated to be USD6 bil

  1. KKR, the US private equity giant, has just closedUSD15 bil for its fourth Asia-focused private equity fund, exceeding its original target, making it one of the largest PE funds dedicated to the Asia Pacific region. Since entering the region 16 years ago, KKR has emerged as a prolific investor with USD30 bil assets under management in the region. It has 60 companies across 11 countries in its portfolio with notable investments such as Bytedance, TikTok’s parent and Reliance Jio.

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