☕️ Head-on collision on LRT Kelana Jaya line near KLCC, 47 suffered severe injuries
One of the first internet memes got sold for USD760k. A nation state that executed an airline hijack - Belarus just did it. CapCut - the fast-growing app with more than 250 mil downloads.
To our Buddhist readers, Happy Wesak Day in advance.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
RM1 million has been raised by The Duck Group and Viva Palestina Malaysia (VPM) to support the Palestinian victims in Al Aqsa and Gaza.
3. COVID-19 SUMMARY
12 private hospitals will start inoculating people under National Covid-19 Immunisation Programme (NIP) beginning today, with a combined capacity of 2,250 doses per day. A little goes on long way.
National Pharmaceutical Regulatory Agency (NPRA) approval must be obtained by companies prior to purchase of Covid-19 vaccines.
Almost 10,000 Kelantanese failed to show up for vaccination under the 2nd phase of the NIP.
Resort World Genting will be limiting its operating hours from 8am to 8pm during MCO3.0 period while the casino will be temporarily closed until further notice.
4. IN MALAYSIA 🇲🇾
The world’s largest condom manufacturer, Karex Bhd reported net loss for 3QFY21 (ended March 31 2021) of RM3.17 million from RM1.13 million a year ago due to disruptions to global logistics network which had affected the delivery of several orders. Worsening Covid-19 situation in Malaysia reduced the group’s output and caused additional unavoidable operational cost of RM3 million.
Khazanah Nasional Bhd managing director Datuk Shahril Ridza Ridzuan has clarified that the sovereign fund is not selling its stake in IHH Healthcare Bhd to Mitsui & Co Ltd amidst the rumour a couple of weeks back. Shahril also said there aren’t any offers to buy. Based on IHH’s current market capitalisation, Khazanah’s stake of 26.02% is approximately worth RM11.8 bn.
MyEG Services Bhd has signed a memorandum of understanding with Singapore's Breathonix Pte Ltd for the latter’s rapid breath test system to be used in Covid-19 screening in Malaysia. Breathonix’s breath test system is non-invasive, accurate and affordable solution that can generate results within a minute according to MyEG.
Covid-19 Immunisation Task Force (CITF) has debunked claims on Facebook by Irwan Sanei that the country has overspent to procure vaccines for the Malaysia’s population. CITF clarified that the RM3.5 billion is spent to procure vaccines for 38.5 million — which required 2 doses each. Quick calculation showed per dose costs approximately RM47.95 if what CITF claims is true.
Two trains got into a head-on collision between Kampung Baru and KLCC on LRT Kelana Jaya line last night, leaving 213 people injured with 47 of them severely injured. NSFW — footage shared by Bernama.
News in brief
1MDB-Tanore trial postponed as Datuk Seri Najib Razak was recovering from an eye surgery. Delaying in inevitable.
YHA Travel & Tours (M) Sdn Bhd’s suit against Datuk Seri Mohamed Azmin Ali and his three children has been deferred following ‘positive developments’, hopefully not Covid-19 positive.
5. AROUND THE WORLD 🌎
State-owned Indonesia Battery Corporation (IBC) and South Korea’s LG will build a new battery plant worth USD1.2 bil with production capacity of 10 gigawatt hours (gWh). The plant, part of a bigger USD9.8 bil EV deal between LG and Indonesia signed last year, will be constructed on the eastern border of Jakarta in Bekasi. The production from this plant will be used for EVs from Hyundai. Indonesia is targeting to produce 140 gWh worth of batteries by 2030, and they have something to show with this plant.
Belarus has pulled off probably the first state-planned airline hijack. A Ryanair plane from Greece to Lithuania was diverted to Minsk, Belarus, whilst it was flying in its airspace on grounds of a bomb scare, escorted by a fighter jet. The plane was notified by Belarus (Air Traffic Control) of a potential security threat on board and instructed to divert to Minsk. However, flight data has shown that the plane was closer to its destination than Minsk.
The real motive was revealed upon landing. A passenger, Raman Pratasevich, was arrested by Belarusian officials. The 26-year old journalist is a vocal critic of Belarus President Alexander Lukashenko who has been reporting on the president’s brutal suppression. Pratasevich is labelled as a wanted terrorist in Belarus. The extraordinary steps taken to detain him amounted to hijacking of a commercial flight and violation of air travel protocol. The US and European leaders have condemned this action.
A new Chinese app is climbing the ranks on Google Play and App Store. Called CapCut, it is a video editing app that allows users to add stickers, filters, effects, easy-to-use green screen function and a licensed music library. Since May 21, it ranked #1 free app on US App Store, and #9 on US Google Play. It ranks first amongst free iOS apps in 33 countries.
The app has exceeded 250 mil installs globally, and nearly 9.5 mil alone from the US. Quite impressive. Impressive growth but it’s important to know who is behind it - TikTok owner ByteDance. CapCut sister app in China, Jianying is already a success amongst Douyin (TikTok of China) users - ByteDance repeating its playbook capitalising on TikTok’s reach to promote CapCut to use to edit TikTok videos.
Richard Branson’s Virgin Galactic has successfully completed its first space testflight over the weekend, sending its shares soaring by 15% on Monday. This represents the first of 4 testflights before it can commercially fly customers. The next flight will test carry 4 passengers to test the spacecraft’s cabin, while the 3rd test will be flying its founder, Richard Branson. Initially scheduled for commercial service by mid-2020, it has been pushed back to early 2022.
News in Brief:
Investment banking giant Goldman Sachs has called Bitcoin ‘an investible asset class’ in its latest research, nothing that ‘it’s not often that we get to witness the emergence of new asset class’. Meanwhile, Europe’s largest bank, HSBC, has no plans to provide any cryptocurrency services to its customer base according to its CEO Noel Quinn.
Taiwan, amongst the best nation in managing the pandemic in the past 18 months, has seen cases rising rapidly with 460 new cases reported on May 23. Despite its earlier effective pandemic management, Taiwan has dropped the ball when it comes to vaccination - only 1% of its population of 23.6 mil people is vaccinated. Given its political tension with China, it has a longstanding policy of not importing China-made vaccines.
6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)
Despite its size, China has only 33 people in it cabinet. Malaysia? 74 people for a population of more than 30 mil vs China’s 1.4 bil. Yet, the nation is in a mess due to gross incompetency of PN leadership. God save Malaysia.
US Top EV cars in the last 3 years
Federal Territory Minister, Annuar Musa, has proven the extent of his intelligence as he failed to differentiate 2 charts: one which is cumulative Covid-19 cases and another showing cumulative cases per million people and went as far as calling the latter ‘fake chart’ in a tweet, now deleted. Of course, netizens are smart enough to screenshot it as below. God save Malaysia.