☕️ How much can an old RM1 note worth? RM3,000

Yong Chee Kong - Penang's mysterious 2 mil vaccine doses donor. TikTok CEO and co-founder to step down. University of Pennsylvania anonymous USD5 mil Bitcoin donation

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1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

745,000 people died in 2016 from stroke and heart disease due to long working hours according to the World Health Organisation (WHO).

20 energy and chemical giants alone contribute to 55% of the world’s single-use plastic according to the Plastic Waste Makers Index, published by the Australia-based philanthropic Minderoo Foundation.

USD2 million — the price you need to outbid to get the first available private spaceflight seat on Blue Origin’s New Shepard Rocket.


3. COVID-19 SUMMARY

  • Another all time high for new Covid-19 cases and deaths in Malaysia, 6,806 and 59 deaths respectively. Please do not go out unnecessarily, stay safe.

  • 2.07 million vaccine doses given to people living in Malaysia as of May 18 2021, slowly but surely!


4. IN MALAYSIA 🇲🇾

  1. AirAsia X Bhd reported net loss of RM5.67 billion for its quarter ended March 31, 2021. The group announced change in financial year end from Dec 31 2020 to June 30 2021. For the 15 months ended March 31, 2021, AirAsia X said cumulative net loss stood at RM7.01 billion on revenue of RM1.17 billion. How will research house of CGS-CIMB rate AirAsia X? Previous target price were a mere 4 sen.

  2. High Court Judge Muhammad Jamil Hussin whom previously freed Musa Aman of corruption and money laundering charges, has dismissed the government’s forfeiture suit involving RM114 million cash linked to 1MDB on the grounds of the prosecution’s failure to prove the monies were obtained from illegal activities. However, the judge did not make any order as to whom the money should be returned to. Both UMNO and Datuk Seri Najib Razak are claiming the seized assets as third parties.

  3. How much can a RM1 note worth? Jeram assemblyman Mohd Shaid Rosli is willing to pay RM3,000 for the RM1 note signed by the 6th Bank Negara Governor, Tan Sri Dr Ali Abul Hassan Sulaiman. His post on social media viral with some thinking his account got hacked. Shaid Rosli then explained he has a hobby of collection exclusive ringgit notes.

  4. Online shopping platform Shopee has generated about RM1 billion of sales for the economy via partnerships with various ministries, governmental agencies, associations and state governments. The partnerships empowered 100,000 local micro, small and medium enterprises to digitalise.

  5. A day after being dismissed as a scam, the businessperson behind the offer to donate 2 mil doses of CoronaVac vaccines to Penang is supposedly in touch with Khairy Jamaluddin’s office. This person is known as Yong Chee Kong, based in Kota Kinabalu and is the managing director of a HK company, Xintai Development Ltd. According to Yong, the donation is in his personal capacity and not linked to the firm in HK. Yong want to donate the vaccines he procures himself and not pay through any company in KL as he is aware of the costs.

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5. AROUND THE WORLD 🌎

  1. The European Commission, the executive arm of the EU, fined UBS Group, Nomura Holdings and UniCredit SpA nearly EUR371 mil (USD450 mil) for illegally colluding on trades in European government bonds. The collusion took place between 2007 and 2011, which was carried out through chat rooms on Bloomberg terminals where traders updated each other on customer prices and sensitive information before government bond auctions. 

    UBS took the biggest hit, with a fine of EUR172 mil, Japan’s Nomura was fined EUR130 mil and UniCredit SpA fined EUR69 mil. 7 investment banks were involved, of which only 3 got fined. NatWest Group wasn’t fined as they alerted regulators to the behaviour, Bank of America and Natixis got away as they dropped out from the cartel more than 5 years before the investigation started, making them ineligible and WestLB avoided fine too as it didn’t have any revenue last year. 

  2. Zhang Yiming, the 38-year old CEO and co-founder of TikTok owner, ByteDance, will be stepping down from his role as CEO and move to a ‘key strategy’ position that would enable him ‘to have greater impact on longer-term initiatives’. He will be replaced by his co-founder, Liang Robu. Founded in 2012, ByteDance is amongst the most valuable private tech companies in the world, valued at USD250 bil in most recent trade and has been attracting growing scrutiny from Chinese regulators. Zhang’s own net worth is pegged at USD44 bil according to Bloomberg , making him the world’s 30th wealthiest person. Read his letter here why he wants to step down.

  3. Based on filing to authorities, the Gojek and Tokopedia merger into GoTo will see Gojek shareholders owning 58% and Tokopedia owning 42% of the new entity. Softbank and Alibaba will emerge as the 2 largest shareholders and the only investors with double-digit stakes of 15.3% and 12.6% each respectively, outstripping Google and Temasek, which both had stakes in Gojek and Tokopedia. Alibaba and Softbank are investors in Tokopedia.

    Its 3rd largest shareholder is Hong Kong billionaire Richard Li, the son of Li Ka-shing with a stake of 4.7%. Prior to the merger, Tokopedia was in discussion to list via a SPAC with Richard Li’s Bridgetown, a SPAC that is also backed by Peter Thiel

    News in Brief:

  4. The University of Pennsylvania has received an anonymous gift of USD5 mil in the form of Bitcoin. The donation will go to support innovation in finance for its Wharton Business School. Unfortunately, the Bitcoin was sold immediately and converted to fiat. 

  5. An iceberg measuring 70x the size of Manhattan has broken off from the Ronne Ice Shelf of Antarctica, making it the current largest iceberg in the world, according to the European Space Agency. Named A76, it is 105 miles long and 15 miles wide with surface area of 1,668 square miles. Fortunately, the breaking of this ice shelf is not due to climate change and is a part of its natural cycle.


6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)

  1. 17,000 tonnes of daily local waste in Malaysia are food waste — with 4,080 tonnes still edible.

  2. 360-degree high resolution view of our Moon

Enjoy your weekend.