☕️ High-ranking source: Agong told PM to bring forward Dewan Rakyat sitting

UMNO President corruption trial to resume on Aug 25. IKEA has a thriving shopping mall business - Ingka Centres. Singapore transacted 2x more real estate deals than Manhattan in 1H of 2021.



The environmental impact of bottled water is 3,500x greater than that of tap water, according to a study by the Barcelona Institute for Global Health conducted in the capital of Catalonia. Production of a plastic bottle takes three times more water than the bottle could hold. Might want to think twice when you grab the bottle of water from the kiosks next time?

4.8% — the unemployment rate in Malaysia for June 2021, with 768,700 people unemployed compared to 728,100 people in May 2021. The full lockdown was meant to stop the spread of the Covid-19 cases, but where are we now?

USD470,000 — the price of factory-sealed Olive green Patek Philippe Nautilus sold at an auction, almost 11x the retail price of USD34,893. The timepiece was introduced to placate customers who could not secure the timepiece’s sibling, discontinued Ref 5711/1A-010 blue-dialled version.



Political and Local

  1. A bid by former premier Datuk Seri Najib Razak and his son Datuk Mohd Nazifuddin Najib to refer constitutional questions in relation to their Inland Revenue Board (IRB) appeals over their tax arrears of RM1.69 billion and RM37.6 million respectively has been dismissed by The Court of Appeal.

  2. Datuk Seri Dr Ahmad Zahid Hamidi’s trial on 40 corruption charges connected with the Foreign Visa System (VLN) will finally resume at the High Court here on Aug 25. Total amount of bribes = RM48.99 million.

  3. The Home Ministry has announced the reactivation of the Malaysia My Second Home (MM2H) programme with nine new conditions. New applications can be submitted beginning October 2021.

  4. Since our Malaysian politicians have been “excused” from needing to debate in parliament, former prime minister Najib Razak took to Facebook to question Perikatan Nasional (PN)-led government over its borrowings of about RM11.5 billion over the span of 10 days. He further teased if this was due to the spike in durian prices.

  5. The Yang di-Pertuan Agong is making hay while the sun shines — a source informed Malaysiakini that YDPA had told PM Muhyiddin Yassin to bring forward Dewan Rakyat sitting amid uncertainty over the latter’s legitimacy as prime minister. Another news portal reported PM will carry out the confidence vote on Aug 18, 2021.

    After the audience with the YDPA in the morning yesterday, PM met with Perikatan and BN leaders in the evening for three hours. Wonder if they have an abacus with them to calculate.


  1. From 1 August 2022 (next year) onwards, all financial institutions will use Standardised Base Rate as the reference rate for retail floating-rate loans. The SBR is linked solely to the Overnight Policy Rate (OPR). Currently, when Bank Negara Malaysia adjusts the OPR, it is at the bank’s discrepancy to update their base rates (BR).

    With the Revised Reference Rate Framework, it will be easier for consumers to understand which banks are more expensive as all the banks will have to use the same standardised base rate.

  2. The EV-themed play seems to have some leg as Greatech Technology Bhd’s net profit for 2QFY21 ended June 30, 2021, increased to RM38.38 mil compared to RM17.63 mil a year ago.

    The group said the results were underpinned by strong revenue for production line systems (PLS) in the electric vehicle (EV) energy storage industry. EV energy storage is constituting 88.93% of the total revenue for PLS in the current quarter. YTD, the counter has risen 54.95% as per yesterday’s closing price.

  3. Out of favour Serba Dinamik Holdings Bhd’s subsidiaries have secured eight contracts with a total estimated value of RM286.3 mil and seven operation and maintenance (O&M) contracts with no specific value.

  4. AT Systematization Bhd calls off the planned takeover of logistics and ICT services outfit, Asdion Bhd. AT Systemization first announced its plan to take over Asdion at 50 sen per share on March 11, but the share price has since sunk 63% to 18.5 sen yesterday.


  1. IKEA, the furniture giant retailer, has its own thriving shopping mall business, one of the world’s biggest, known as Ingka Centres. Ingka Centres has 45 malls, or “meeting places” as it calls them, anchored by IKEA furniture stores across Europe, Russia and China - in China under the brand Livat. 

    It has kicked off its first-ever mixed-use retail and residential development in Changsha in southern China, involving 500 flats. This is its attempt to test out another income stream with housing, capitalising on rapid urbanisation in China. Livat Changsa mall is Ingka Centre’s fifth in China with 95% occupancy across 130,000 sq metres by around 350 retailers with over RMB4 bil (USD616.8 mil) invested to date. 

  2. Coinbase (market cap: USD59.4 bil), one of the world’s largest crypto exchanges, has announced a stellar Q2 performance


    1. Quarterly revenue rose 27% to USD2.2 bil

    2. Net income of USD1.6 bil (72.7% net margin!)

    3. Trading volume of USD462 bil vs USD335 bil in Q1

    4. Retail monthly transacting users (MTU) grew to 8.8 mil, up 44% from Q1 with verified users of 68 mil

    5. Over 9,000 institutions - it counts Elon Musk, SpaceX, Tesla and 10% of the top 100 largest hedge funds as clients

    6. Ether trading volume exceeded Bitcoin’s for the first time, making up 26% of total trading volume vs Bitcoin of 24%


  3. Fanatics, the world’s largest merchandise retailer, has raised USD325 mil in a round that valued it at USD18 bil. Current backers include SoftBank and Silver Lake, as well as new investors such as Jay-Z, who participated in this round. This is Fanatics’ third capital raise within a span of a year, during which its valuation tripled from USD6.2 bil in Aug 2020.

    Fanatics is attempting to leverage its fan base to be a sports commerce powerhouse that operates gaming, sports betting, and media business units on top of its retail operations. It expects over USD3 bil in revenue in 2021. Fanatics has signed the rights to sell online merchandise for more than 300 leagues and teams, including the US’ NFL, NBA and MLB.  

  4. Despite regulatory uncertainty, CoinDCX has emerged as the first crypto business in India to reach unicorn status. It raised a USD90 mil Series C round led by B Capital Group (founded by the co-founder of Facebook, Eduardo Saverin) with returning participation from investors including Coinbase Ventures, Polychain and Jump Capital. This round valued it at USD1.1 bil. Since its founding in 2018, it has onboarded more than3.5 mil users, and with its new round of funding, it aims to hit 50 mil users across the country. 

    News in Brief:

  5. WhatsApp users will soon be able to move their entire chat history between mobile operating systems - amongst the messaging app’s biggest requests by its users. 

  6. Singapore saw SGD32.9 bil (USD24 bil) worth of real estate deals in the first half of 2021 - the biggest frenzy in more than a decade and doubled the recorded sales in Manhattan, the biggest real estate market in the US’ largest city in the same period. 

  7. Nearly 20 years since the 9/11 attack on American soil, the Biden administration said it intends to declassify information from long-withheld files relating to the September 11 attacks that killed nearly 3,000 people. Families of victims believe the documents could detail Saudi leaders’ backing of the attacks. 


  1. The best commentators for the Olympics go to Kevin Hart and Snoop Dogg. For that matter, they should both just be given a whole show!

  2. On top of being a platform for you to discuss the stock markets, Stockbit also carries out briefing sessions with senior management of listed companies in Malaysia! It’s almost the same with the briefings analyst get. So tune in on Stockbit’s Facebook or Youtube tonight at 8:30 pm if you are keen to know more about $AEMULUS!