☕️ Hospital - the favourite go-to place for politicians during times of trouble

Grab's first-ever quarterly disclosure - not so great. Anwar Ibrahim claims once again PM has lost the majority. Square's giant USD29 bil all-stock acquisition of Australia's Afterpay.



It took less than 3 hours for four tonnes of durians at RM1 per kg to be snapped up. Durian seller Tengku Nor Amira Tengku Razaman, 31, said she decided to sell durians as low as RM1 per kilogramme (kg) so that all levels of society could enjoy them. Not all heroes wear capes!

£250 million— the estimated price of the United Kingdom’s flagship yacht, designed to promote the UK around the globe. The vessel will be the successor to the Royal Yacht Britannia, which was retired in 1997 after 44 years in service.


  • Labuan, Perlis and Sarawak to enter Phase 3 of National Recovery Plan on Aug 4, 2021.

  • The country has begun negotiations with Pfizer Incorporation for Malaysia’s 2022 vaccine procurement. Expect higher prices to be paid as Pfizer has increased its price in the EU (read more below).

  • According to Khairy Jamaluddin, walk-in vaccination for senior citizens aged 60 and above will be extended nationwide beginning next week as the nation has achieved over 95% vaccination rate for senior citizens at the national level.




  1. Minister in the Prime Minister's Department (Parliament and Law) Datuk Seri Takiyuddin Hassan underwent a three-hour surgery due to heart problems. He is expected to be discharged by today. We’re beginning to see a pattern here.

  2. Pakatan Harapan leader Anwar Ibrahim has again claimed that PM Muhyiddin Yassin has lost the majority as some MPs from Perikatan Nasional (PN) wants to leave the party. Nazri Aziz challenges Anwar to show the numbers. Datuk Seri Anwar Ibrahim, need abacus tak?

    However, Anwar might be correct this time as UMNO MPs are not aligned in their support for the PM. UMNO supreme council member Puad Zarkashi reminded Ismail Sabri that he is merely the DPM and does not give him the power to override UMNO president and BN chairperson. UMNO Kelantan too asked PM to resign. UMNO will hold a virtual special meeting of its Supreme Council today to discuss the latest political developments.

  3. Opposition MPs tried to march to Parliament yesterday from Dataran Merdeka but were stopped by cops. Kuala Lumpur police chief Comm Datuk Azmi Abu Kassim said police would record the statements of those involved.


  1. Sunway Malls has given a lifeline to its retailers through financing facilities of up to RM200 mil provided by RHB Banking Group and Credit Guarantee Corporation Malaysia Bhd (CGC). Sunway Malls SME Retailers Relief Financing Programme — will be made available to the mall group’s retailers across seven malls.

    Qualified retailers under Sunway Malls can apply for RHB financing facilities of up to RM500,000 with a loan tenure of seven years back by CGC’s guarantee of up to 80% on the principal financing amount.

  2. British newspaper The Sunday Mirror has issued a public apology on allegations of labour exploitation at one of Dyson’s manufacturers ATA IMS Bhd.

  3. Maybank Singapore Ltd sues National Feedlot Corp Sdn Bhd (NFC) chairman Datuk Seri Dr Mohamad Salleh Ismail and his two children for defaulting on two housing loan facilities for properties in Singapore. Maybank Singapore is seeking the court's judgement on a total of S$2.53 million being the outstanding amount owed.

    What happened to RM49.7 million, though?

  4. Another state government has joined the foray in applying for a digital banking license from Bank Negara Malaysia (BNM). A consortium comprising Revenue Group Bhd, Sarawak State and Kenanga Investment Bank Bhd has applied for said license.

  5. Analysts are bullish on Unisem (M) Bhd after the group reported a net profit of RM54.64 mil for 2QFY21 ended June 30, 2021 — up 60% YoY. Unisem closed RM8.60 at the end of trading yesterday.


  1. Square, the US-based payment processing company, announced that it is acquiring Afterpay, the ‘buy now pay later’ (BNPL) giant based across the world in Australia in a USD29 bil all-stock deal. It valued Afterpay at more than 30% premium to its latest closing price. As of June 30, Afterpay served more than 16 mil customers and nearly 100,000 merchants globally.

  2. Grab reported its first-ever quarterly financial results in a filing connected to its planned listing via a SPAC merger towards the end of the year. 

    Highlights on Grab’s Q1 2021 performance:

    1. Adjusted net sales up 39% to a record USD507 mil

    2. Adjusted EBITDA loss reduced to USD111 mil from USD344 mil in the year earlier

    3. Q1 GMV grew 5% to USD3.6 bil

    4. USD4.9 bil cash and cash equivalents, USD2.1 bil debt 

      Once adjusted to adhere to the International Financial Reporting Standards (IFRS) to comply with the US SEC guidance, Grab’s net sales became USD216 mi - more than half of its own reported figures. It goes to show how much of its numbers are reported as per its own definition to make its business look better relative to common standards.

      A tall order for it to pull off a USD40 bil listing, when its peer, Didi of China, currently is worth USD49 bil with USD6.5 bil revenue in its Q1 - that’s is 7.5x its Q1 revenue. If Grab is to benchmark to this multiple using IFRS revenue, it will be valued at USD1.6 bil - 25x lower than its USD40 bil target. 

  3. Pfizer and Moderna raised prices on their Covid-19 vaccines in the latest contract negotiations with the European Union, the FT reported. The reason for the increase, according to an official close to the negotiations, is the “usual pharma rhetoric” - the companies essentially said that “vaccines work, so they increased the ‘value’”. 

    According to portions of the contract sighted by FT, Pfizer increased its price by 25.8% from EUR15.5 to EUR19.50, while Moderna increased its price by 34.2% from EUR19 to EUR25.5. The pharma companies took the opportunity to revise prices as experts mull for booster shots and the cheaper vaccines made by AstraZeneca and Johnson & Johnson are losing their popularity in the EU. 

    News in Brief:

  4. The world’s largest pension fund, Japan’s Government Pension Investment Fund with USD1.7 tril in assets, made a record cut to the weighting of US Treasuries in its portfolio, reducing its exposure by 25%. From 47% previously, US government bonds and bills have been reduced to 35% of GPIF’s foreign debt holdings with a value of JPY17.5 tril (USD160 bil).

  5. Myanmar’s junta chief said that elections would be held and a state of emergency will be lifted in 2 years by Aug 2023, instead of one year as the junta announced days after the coup. In the interim, junta leader Min Aung Hlaing will be appointed as the prime minister of the “caretaker government”.

  1. Google unveiled its first smartphone chip, Tensor processor, that is designed specifically for its Pixel smartphones, which will give its upcoming Pixel 6 models better performance when processing AI and machine learning tasks as it wants to build a “mobile AI computer”.


  1. Robots doing construction work. It will eliminate our jobs first before eliminating us.

  2. The current situation in Malaysia - turn your phone upside down. The tweet has been deleted for unknown reasons.