☕️ Grab + Gojek merger another step closer

World-leading crypto company from KL. Salesforce buys Slack for USD27.7 billion. UK approves Pfizer vaccine for rollout next week.

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RM12.49 billion in wage subsidy had been approved as of Nov 20 under The Wage Subsidy Programme (PSU), benefitting 2.64 million employees.

RM100,000 - EPF allows contributors to withdraw up to RM10k if Account 1 savings is below this threshold. Above RM100k, withdrawal up to 10% of their savings or up to RM60k, whichever is lower, is allowed. Dear Malaysians, our government is allowing us to help ourselves.

520,626 - number of monthly listeners of Dato’ Sri Siti Nurhaliza, who won Spotify’s most-streamed local artist for the 3rd time! Get your Spotify Wrapped here!



  1. The 2 South East Asian super apps, Grab Holdings Inc. and Gojek are making substantial progress in working out a deal to combine their businesses. Grab and Gojek are valued at USD14 billion and USD10 billion respectively. This deal will be heavily scrutinised by regulators across the region as it might give rise to anti-competition risk. What other alternatives are there should this merger happens? Consumers will be the one getting squeezed in the absence of options. Remember what happened to Grab prices after Uber exited the market?

    Meantime, you can buy your household goods from the newly launched GrabSupermarket.

  2. CoinGecko is the largest independent crypto data service provider in the world, after Binance, one of the largest crypto exchange in the world acquired CoinGecko’s competitor CoinMarketCap back in April for a reported amount of USD400 million. CoinGecko plays on the global stage. Unlike most leading sites, CoinGecko is based out of Kuala Lumpur. Started by 2 Malaysians, featured on Forbes 30 under 30. Bootstrapped, with no external funding. This is their story.

  3. Eligible SMEs can get working capital financing of up to RM500K under the Targeted Relief and Recovery Facility (TRRF) courtesy of Bank Negara Malaysia. Total allocation is RM2 billion, check for the eligibility here!

  4. Launch of the new X50 model and sales tax exemption (until 31 Dec 2020) have propelled our national car maker, Proton to sell more cars in 2020 than in 2019. Already 96,410 units have been sold to date, 7.5% hike compared to the same period last year.

  5. Nitrile latex price could breach USD3,000 per metric ton (pmt) in December according to KAF research, potentially eroding the margins of glove makers. Cost to produce 1,000 pieces of nitrile gloves would increase by 70% q-o-q to RM120. Here goes the supernormal profits. Maybe there’s no need for windfall tax after all.


  1. Salesforce announced that it will be acquiring Slack, the 11-year old  workplace chat and collaboration software for USD27.7 billion in cash and stock - 62x Slack’s FY2019 revenue of USD448.5 million, 42x its 9-month FY2020 revenue of USD652 million. Even more impressive, Slack lost as much as it made in FY2019, though its losses were narrowing at this point of acquisition and yet is able to command such a valuation. Salesforce must have been convinced that this is the premium it has to pay to give it a strategic advantage and asset to go up against Microsoft Teams. 

    This is its biggest acquisition to date. Prior to Slack, Salesforce’s largest acquisition was Tableau, a data analytics company in 2019 for USD15.7 billion. However, the deal is subject to shareholders, Federal Trade Commission and US Department of Justice approval. 

    Payday for the co-founders:

    Steward Butterfield, CEO & Co-founder: 8% stake = USD2.2 billion

    Cal Henderson, CTO & Co-founder: 3% stake = USD831 million

    Softbank, an investor in Slack sold all its stake by Sep 2020, missing out on the premium paid by Salesforce.

  2. UK became the first country to approve Pfizer and BioNTech’s Covid-19 vaccine, which offers 95% protection against the Covid-19 virus. The first 800,000 doses (2 doses per individual) will be administered as soon as next week with high-risk groups (ie.elderly, NHS staffs) to be prioritised. 40 million doses of this Pfizer/BioNTech has been placed by the UK, enough to vaccinate of its population. This vaccine is the fastest to go from concept to reality, taking only 10 months versus the normal timeline of 10 years.

  3. Singapore has approved the world’s first cultivated chicken meat that is lab-grown created by food technology startup, Eat Just. Eat Just claimed that its lab-grown chicken meat has higher nutritional value than traditional chicken. Livestock farming imposes a heavy toll on the environment. Should lab grown meat go mainstream, be it for chicken, beef, fish, it will be a huge relief to the environment. 

    Eat Just counts Hong Kong billionaire Li Ka-Shing and VC firm Khosla Ventures amongst its investors. It is reportedly in the midst of raising USD200 million before going public.

  4. China’s has successfully landed its 3rd lunar lander, Chang’e 5 on the moon and will be bringing back about 2kg of rock and soil samples. China space aspiration is heating up the space race, taking the superpowers competition above Earth’s atmosphere. 

    Chang’e’s journey to the moon:

    2007: Chang’e 1 lunar orbital mission

    2010: Chang’e 2 lunar orbital mission

    2013: Chang’e 3 lunar landing and small rover exploration

    2019: Chang’e 4 lunar landing and small rover exploration, first spacecraft to touch down on the far side of the moon

  5. Trump is looking to exercise/exploit his presidential pardoning power to preemptively pardon his 3 eldest children and his personal lawyer and former New York mayor, Rudy Giuliani. Presidential pardon only applies at the federal level and does not protect against state and local laws.

  6. Elon Musk said Tesla, with a mega market cap of USD554 billion (bigger than Warren Buffett’s Berkshire Hathaway, USD538 billion) will consider buying a legacy automaker. But only if it’s a friendly deal, a non-hostile takeover.

  7. Apple and Google released its top apps of 2020 downloaded on App Store and Play Store respectively.

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