☕️ Google 2 co-founders now worth USD100 bil each
A public listed company directors getting paid in Bitcoin. Yet another DNAA granted for criminal breach of trust involving RM50.4 mil. Domino's pilot testing autonomous self-driving pizza delivery.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
+2 - the number of new centibillionaires, a person with a net worth of USD100 bil, that joined the club recently. The 2 co-founders of Google recently joined 6 others in this exclusive club of 8 people.
RM77.4 million — foreign investors were net sellers of Malaysian equities for the fourth consecutive week last week.
43% - or 20 out of 47 unicorns in India have Tiger Global, the giant New York-based investment firm as its investor.
3. COVID-19 SUMMARY
4. IN MALAYSIA 🇲🇾
The Keeper of the Rulers' Seal Tan Sri Syed Danial Syed Ahmad announced the Ramadan dawn-to-dusk fast will begin today, April 13 2021. Happy fasting to those of you who do!
Phase 2 of the National Covid-19 Immunisation Programme is slated to begin in a week’s time on April 19, 2021 and Sinovac vaccines would be used for senior citizens aged 60 and above.
Government has also allowed private hospitals to be vaccination centres in Phase 2 and Phase 3.
The Covid-19 infectivity rate (Rt) or R-Naught value based on daily cases nationwide rose to 1.06 as of April 11, 2021.
Sunway Bhd has accumulated a 4.95% stake in construction giant IJM Corporation Bhd becoming its fifth largest shareholder via its wholly owned subsidiary FORTUNA Gembira Enterpris Sdn Bhd. Is a takeover in the horizon?
You might be in luck if you have a ticket from the Road Transport Department (JPJ) because in conjunction with its 75th anniversary, JPJ will be giving 70% discount on 3.5 million compoundable summonses. The discount is mainly to assist those motorists who have been unable to renew their driving licences or road tax after being blacklisted by JPJ for unsettled summonses.
Malaysia Aviation Group (MAG) aims to reduce carbon dioxide (CO2) emission by 25 million tonnes in 2021. MAG Sustainability Blueprint targets to use only 50% usage of biodegradable materials for in-flight operations by 2025 onwards.
Ex-spy chief Datuk Hasanah Abdul Hamid, the former director-general of the Malaysian External Intelligence Organisation (MEIO) has been granted an discharge not amounting to acquittal in her criminal breach of trust trial involving RM50.4 million funds but she may still face charges in the future once the prosecution makes a strong case.
5. AROUND THE WORLD 🌎
Ever Given, the vessel that caused the Suez Canal to be blocked for nearly a week will not be released by the Egyptian authority to its owners until it agrees to pay as much as a billion dollars in compensation, as said by Osama Rabie, chairman of the Suez Canal Authority. The Suez Canal Authority has not said how Rabie arrived at the figure, but the blockage cost Egypt USD95 mil in lost transit fees.
Autonomous self-driving is coming but to pizza delivery. Domino’s will start delivering pizzas with self-driving robots from Nuro. This pilot programme is only limited to customers in Houston, Texas using Nuro’s R2, the first autonomous on-road delivery vehicle approved by the US Department of Transportation.
An Israeli study found that the Pfizer vaccine may be less effective against the South African and UK variants. In the study that involved 400 people, included partially vaccinated (one dose) and fully vaccinated (2 doses) patients. The South African variant, B.1.351 was found to be 8x more prevalent amongst vaccinated patients while the UK variant, B.1.1.7 is more prevalent amongst partially vaccinated patients. Roughly 80% of Israeli’s population is vaccinated, with almost 53% of the population having received both Pfizer doses.
India has overtaken Brazil to be the 2nd worst-infected country after the US. 168,000 new cases were reported over a 24-hour period on Monday, of which 83% of the cases came from 10 states. Since the beginning of April, India has reported 1.37 mil confirmed cases, bringing its total cases to 13.5 mil. Initially thought to have achieved herd immunity, India’s cases peaked in Sep but began rising again in Feb. Political rallies and religious gatherings across the country could be blamed for this new wave.
MicroStrategy, the publicly listed business intelligence company in the US that kick started the Bitcoin corporate treasury practice announced that it will be paying bonuses and fees to its directors in Bitcoin instead of cash moving forward. MS is the largest corporate owner of Bitcoin with a stash of 91,579 Bitcoin as at its latest purchase on 5 Apr 2021. At a current price of USD60k, this stash is worth USD5.5 bil. MS market cap is USD6.8 bil - 81% of its market cap is derived from Bitcoin, valuing its core business at USD1.3 bil that generates USD500 mil in revenue a year. A bargain buy? Michael Saylor is the founder and CEO of MicroStrategy
Microsoft announced its acquisition of Nuance Communications for USD19.7 bil. Nuance is a leader in speech-to-text software. With a USD1.4 bil revenue run rate, seems like a hefty price Microsoft is paying at 14x revenue but Nuance’s presence in the healthcare market gives Microsoft a leg up in the USD500 bil healthcare IT industry.
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