☕️ How China's Sinovac Covid-19 vaccine brought near-normalcy back to a Brazilian city of 46,000 people

China says military flight off Malaysia is 'routine training'. Boost to collaborate with RHB to be a digital bank. Etsy, creative e-commerce giant acquires Gen Z social shopping app for USD1.625 bil.

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RM10 billion — the average daily trading value (ADV) of Bursa Malaysia in the first quarter of 2021.

9,440 units of Proton were sold in May, 37.15% drop m-o-m due to chip shortages and MCO.

Bang Shi-hyuk, the mastermind behind BTS is worth USD2.7 billion.


  • 3,107,218 Covid-19 vaccine doses have been administered in Malaysia, with at least 2,002,345 Malaysians receiving their first dose as of June 1 2021.*

  • Malaysia recorded its highest daily death toll due to Covid-19 — 126 deaths.

  • Based on current trajectory, Malaysia could see death tolls soar to 26,000 deaths due to Covid-19 by September 2021 according to a study conducted by the Institute for Health Metric and Evaluation (IHME) of the University of Washington in the US.

  • FYI — Total Deaths for the World saw a huge spike from 3.57mil to 3.71mil today due to update from the source. We’ll continue to monitor if the numbers tally.

*We misinterpreted the figure for June 1, 2021 issue, apologies.


  1. Under the latest loan repayment assistance, Bank Negara Malaysia (BNM) has clarified the B40 recipients of Bantuan Sara Hidup/Bantuan Prihatin Rakyat AND individual borrowers who have lost their jobs can choose either a three-month moratorium or reduction of monthly instalments by 50 per cent for six months. Those who have suffered a drop in income are only eligible for reduction of monthly instalments.

    Micro SMEs with facilities up to RM150K or SMEs which are not allowed to operate during lockdown can also choose either a three-month moratorium or reduction of monthly instalments by 50 per cent for six months.

  2. Solar photovoltaic (PV), and earthing and lighting protection (ELP) specialist, Pekat Group Bhd is aiming to raise RM44.4 million from its initial public offering (IPO) on Bursa Malaysia’s ACE Market. The IPO is open for subscription until June 10, 2021 and the listing is tentatively scheduled for June 23, 2021. Are you going to try your luck?

  3. Axiata Group Bhd's subsidiary Boost Holdings Sdn Bhd will be partnering with RHB Banking Group to form a consortium to apply for a digital banking licence from Bank Negara Malaysia (BNM). In the joint venture, Boost would own a majority stake of 60% while RHB owns the remaining 40%.

  4. Permodalan Nasional Bhd (PNB) said the situation at Serba Dinamik Holdings Bhd (Serba) is deeply concerning. PNB further said there is no merit in removing the appointed auditor before they finish the annual audit. Serba’s substantial shareholder Datuk Abdul Kadier Sahib has withdrawn a notice calling for an extraordinary general meeting (EGM) to replace its external auditor KPMG.

    Meanwhile, Datuk Dr Mohd Abdul Karim Abdullah raised his stake to 27.07% via acquiring five million shares via the open market on Monday.

News in brief

  1. Datasonic Group Bhd has been awarded RM39.75 million contract to provide maintenance services for card personalisation centres by Ministry of Home Affairs (KDN).

  2. East Coast Rail Link (ECRL) project reached a major milestone with the tunnel breakthrough at Terowong Dungun, 6 months ahead schedule.

  1. China says military flight off Malaysia merely ‘training routine’ because Chinese military aircraft enjoy the freedom of overflight in the relevant airspace according to relevant international law.

  2. Datuk Seri Najib Razak’s RM2.3 billion of 1MDB trial has been postponed to June 21 2021 due to lockdown.

  3. Selangor will be allocating over RM200 million to purchase more than two million doses for about one million economic frontliners in the state.


  1. What does the largest US oil pipeline (Coastal), largest French insurer (AXA) and the world’s largest meat producer (JBS) have in common in recent months? They are all victims of ransomware, a form of cyberattack. The latest victim, JBS SA, a Brazilian company (market cap: USD15.1 bil), is the world’s largest meat producer. Its entire beef operations in the US and slaughter operations in Australia were shut down after its IT system in these regions experienced cyberattacks. 

    The company employs 250,000 people around the world. The US market alone contributes half to its revenue. Revenue in its latest financial year ending June 2020 was USD52.4 bil. Recent incidents showed how vulnerable the cyber infrastructure amongst the world’s most resourceful companies. Expect more cyberattacks and supply chain disruption to be announced (attacks in progress) in the coming months. 

  2. Retail giant 7-Eleven announced the installation of new 500 direct-current fast charging ports at 250 of its locations across North America by the end of 2022 in addition to its existing 22 charging stations. A major draw of convenience stores like 7-Eleven is that they exist in areas adjacent to highways or major roads. However, with more than 14,000 locations across North America, this addition is a drop in the ocean and somewhat negligible in the effort to capture the EV market. Greenwashing perhaps? 

    Meanwhile, Tesla has filed trademarks for its brand under restaurant services, a sign the company is putting into motion an idea that Elon Musk discussed publicly in 2017. Tesla rest stops coming soon.

  1. Etsy, the creative products e-commerce marketplace, announced its 8th and largest ever acquisition to date of Depop, the London-based marketplace targeting millennial and Gen Z consumers with its social shopping experience. 90% of Depop users are below the age of 26. The deal is valued at USD1.625 bil and is mostly a cash deal. 

    Highlights on Depop:

    1. With 13 mil users back in 2019, it has now over 21 mil users now including designers, stylists, collectors, vintage sellers etc with a fast growing audience and market in the US (Etsy’s biggest market)

    2. 2020 GMV of USD650 mil with revenue of USD70 mil, both up 100% year-on-year. 

    3. It last raised its Series C round in 2019 of USD62 mil, with total funding of USD102 mil

    Etsy is listed on Nasdaq with market cap of USD21.9 bil, On a revenue multiple basis, Etsy is paying 23.2x the revenue of Depop. 

  2. The WHO has approved China’s Sinovac Covid-19 vaccine manufactured by Sinovac Biotech Ltd for emergency use on Tuesday. This is the second Chinese vaccine to be approved after Sinopharm. The WHO said it prevented symptomatic disease in 51% of the vaccinated and prevented severe symptoms and hospitalisation in 100% of its samples though, it also said that some evidence and data gaps are still lacking. 

    Just how effective is Sinovac? An interesting read here how Sinovac brought some normalcy back to the lives of the people, a study of Sinovac’s use in Serrana, a Brazilian city of close to 46,000 people saw a 95% drop in Covid-19 deaths. The study showed that after 75% of its population was vaccinated, the number of cases  and hospitalisations fell. Currently, Serrana has one Covid-19 patient in critical condition - a 63-year old woman who rejected the vaccine during the trial as she was awaiting for Pfizer. 


    News in Brief:

  3. The European Commission has announced a partnership with Bill Gates’ Breakthrough Energy Catalyst, his sustainable energy investment vehicle, to invest in clean tech and sustainable energy projects totalling EUR820 mil (USD1bil) between 2022 and 2026. 

  4. After recent winning streaks from its investment in DoorDash and Coupang, Softbank is coming close to writing off its investment in Katerra, a construction startup that has raised more than USD2 bil. It had more than 8,000 employees globally. It was given a last chance by Softbank with an additional US200 mil.

  5. President Joe Biden on Tuesday formally declared June as Pride Month and reiterated his pledge to defend the rights of the LGBTQ+ community in the US.


  1. Personal hoverboard aircraft created by @hunterkowald


  2. Harvesting water from night condensation to water crops