☕️ Gojek and Tokopedia, if merged, to form USD40 billion GoTo
NASA's Ingenuity helicopter took its historical flight on Mars. JP Morgan's USD6 bil loan funding causing turbulence in European football scene. Microsoft's USD1 bil data centre region in Malaysia.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
62 job openings available at TikTok’s office in Malaysia, ranging from Quality Assurance to Content Moderator roles.
145,830 illegal immigrants under The Recalibration Plan for undocumented foreign workers have taken up offer to return home, or work legally here.
Jose Mourinho has been sacked by Daniel Levy after less than 18 months of being the manager of Tottenham Hotspurs but will walk away with compensation package worth up to £20 million.
34 awards — Public Mutual Bhd dominated the Refinitiv Lipper Fund Awards 2021, the greatest number of awards won by a fund management company.
3. COVID-19 SUMMARY
Malaysia will receive 177,840 more doses of Pfizer-BioNTech vaccine in the coming week according to National Covid-19 Immunisation Programme Coordinating Minister Khairy Jamaluddin. The minister dismissed comments that the country has been ‘slow’ in carrying out its vaccination exercise.
4. IN MALAYSIA 🇲🇾
Microsoft will establish its first data centre region in Malaysia under the Bersama Malaysia initiative, estimated to bring in investments amounting to USD1 bil over the next five years. Prime Minister Tan Sri Muhyiddin Yassin said the data centre region will consist of multiple data centres, managing data from various countries. It will create approximately 19,000 jobs including 4,000 IT-related jobs.
Malaysia Airports Holdings Bhd (MAHB) wants to transform Subang Airport’s (SZB) into an airport operator to an ecosystem master developer and aviation hub in Asia Pacific. RM300 million will be spent upgrading common infrastructures and RM1 billion will be for building lettable facilities such as hangers, factories, maintenance, repair, and operations (MRO), as well as workshops. The masterplan will be completed in five-year.
Boustead Holdings Bhd’s wholly owned subsidiary Mutiara Rini Sdn Bhd had signed a sale and purchase agreement for a piece of land 6.59-acre piece of freehold land on Jalan Cochrane with Sunway’s wholly-owned indirect unit Sunway Rahman Putera Sdn Bhd. The transaction is said to be worth RM233.39 million. The land is vacant with residential status but has potential to be a commercial hub.
The increase in the price of chicken in the country was mainly due to the hike in the costs of imported chicken feed according Minister of Domestic Trade and Consumer Affairs Datuk Seri Alexander Nanta Linggi. The price of standard chicken has been fixed at RM7.90 for 2021 Aidilfitri Festive season, beginning April 21 until May 20 2021.
The Court of Appeal has extended the hearing of DS Najib Razak’s appeal in the case of SRC International Sdn Bhd by two days, which will continue on the April 27 and 28 2021, for a total of 14 days of hearing. Ad hoc prosecutor Datuk V Sithambaram said SRC’s structure set up to only report to the former prime minister. He further added that Ministry of Finance officers had no access to SRC although MoF Inc owns it.
5. AROUND THE WORLD 🌎
University of Oxford will conduct the first-of-its-kind trial to reinfect people who have recovered from Covid-19 to understand and develop more effective vaccines against the coronavirus. The researchers are looking for 64 healthy, previously Covid-19-infected volunteers from 18 to 30 years old to be studied under a controlled and quarantined condition for at least 17 days and will be infected with the original strain from Wuhan, China. One of the goals of the study is to understand how much virus it takes to reinfect someone who has had the virus earlier. What’s in it for these ‘volunteers’ to risk their lives?
British finance minister Rishi Sunak announced that the UK will start exploring the feasibility of a cryptocurrency backed by the Bank of England, or known as central bank digital currency (CBDC). If it ever does come into existence, most people will call it ‘Britcoin’, as tweeted by Sunak after his announcement.Britcoin?
HM Treasury @hmtreasuryToday Chancellor @RishiSunak announced a new HM Treasury and @bankofengland taskforce to explore a UK central bank digital currency. #UKFW21 Read more: https://t.co/ZZQ9yUozKu https://t.co/JHiarZyBDP
Whilst on the subject of currency, China has sought to allay fears that it wants to topple the US Dollar as the world’s reserve currency as it pushes ahead with its digital Yuan. People’s Bank of China Deputy Governor Li Bo said that its effort to internationalise the Yuan is not to replace the US Dollar or other international currencies but to ‘allow the market to choose, to facilitate international trade and investment’.
Indonesia’s 2 most valuable startups, Gojek and Tokopedia are reported to be at an advanced stage of discussion to merge both companies and form a holding company called GoTo. The former is an e-hailing and delivery company and the latter is an e-commerce company. The new entity will be led by Gojek’s co-CEO, Andre Soelistyo and 58% owned by Gojek’s shareholders with Tokopedia’s shareholders owning the rest and aiming to hit a valuation of USD40 bil (hei, just like Grab’s!)
GoTo will have 3 business units:
Ride-hailing provider, Gojek to be led by Gojek co-CEO Kevin Aluwi
E-commerce arm, Tokopedia to be led by its founder and CEO, William Tanuwijaya
Payments and financial services, Dompet Karya Anak Bangsa to be led by GoTo Group CEO Andre Soelistyo
NASA’s Ingenuity helicopter, carried to Mars from Earth in the Perseverance Rover, made a spaceflight history when it lifted off from the Martian surface for the first time on Monday morning. The 4-pound drone flew up to 10 feet high, hovered for 30 seconds and safely landed itself back onto the ground.
The European football scene is entering a turbulent stage. Top major European football clubs are banding together to form a breakaway football league called European Super League to rival the UEFA Champions League, which is currently Europe’s top annual club competition. 12 of Europe’s wealthiest clubs have signed up to be founding members of the European Super League (ESL) and have the backing of USD6 bil in debt financing from JP Morgan.
The founding teams:
England: Manchester United, Manchester City, Liverpool, Tottenham, Chelsea and Arsenal
Spain: Barcelona, Real Madrid and Atletico Madrid
Italy: Juventus, AC Milan and Inter Milan
The ESL will have 20 clubs eventually, however, with 15 of those will be permanent members. As compared to the Champions League, clubs have to compete each year to qualify for it.
Already wealthy to begin with, the ESL’s founding teams will collectively be given EUR3.5 bil (USD4.2 bil) to spend on infrastructure investment and each team to get a welcome bonus of up to EUR300 mil (USD361 mil) for joining the league. UEFA said that it will take all measures available to prevent this from happening.
6. FOR YOUR VIEWING PLEASURE 👁👁 [Beta Mode]
US Streaming Market Share: 2020 vs 2021
How the Panama Canal works
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