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KJ threw jabs at his critics. Singapore's sovereign wealth fund GIC acquiring 16% in Sunway Healthcare. World's biggest corporate renewable energy buyer - Amazon.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
RM15,100 per kg — the price of Miyazaki mangoes. A couple in India hired three guards and nine dogs to protect their orchard with 150 Miyazaki mango trees.
RM144.7 mil — total sales from four e-bazaar campaigns organised by the Selangor government. According to Mentri Besar Datuk Seri Amirudin Shari, the campaign created ripple effects amounting to RM2.95 bil, a 20x multiplier. Wonder what economics is the MB using.
USD175.8 bil — the expected revenue to be generated from the global games market in 2021 according to analytics firm Newzoo.
3. COVID-19 SUMMARY
Covid-19 vaccines from AstraZeneca and Pfizer-BioNTech are effective against Delta and Kappa variants of the Covid-19 virus, which were first discovered in India.
Khairy Jamaluddin aims to get 60% of the population fully vaccinated by the end of September 2021.
Sarawak to receive 650,000 doses of single-dose CanSino Covid-19 vaccine supply by the middle of July 2021.
4. IN MALAYSIA 🇲🇾
Khairy Jamaluddin returns jabs to critics on his handling of the Covid-19 pandemic.
The first jab at World Bank — to speak out against the hoarding of vaccines by developed countries and he called Covax an “abysmal failure”.
The second jab at those who called him a murderer for vaccine mixing
The third jab to people who said mega PPVs are a waste of money — KJ shared an article from BBC where high-income countries such as the United Kingdom is practising the same too, using stadiums as vaccination centres.
The last jab to DAP secretary-general Lim Guan Eng who questioned why Putrajaya is moving away from “herd immunity” terminology — KJ pointed to Dr Anthony Fauci’s statement that the terminology is elusive and mystical.
UMNO vice-president Datuk Seri Ismail Sabri Yaakob has said Barisan Nasional lawmakers will not support the motion of no-confidence against PM Tan Sri Muhyiddin Yassin in the next sitting of Parliament. Looks like Ahmad Zahid Hamidi, currently BN’s chairman has lost his power.
Yesterday, Nazri Aziz said the majority of BN MPs have lost confidence in its chairman. In fact, 25 have signed statutory declarations to support Hishammuddin Hussein to represent them before the King if they were to be called for an audience.
GIC Pte Ltd is indeed acquiring a 16% stake in Sunway Healthcare Holdings Sdn Bhd (SHH) for RM750 million. Sunway Bhd chairman Tan Sri Dr Jeffrey Cheah said the investment from GIC will be used to partly fund SHH’s expansion plans, mainly for the building of six more hospitals, bringing the total to eight hospitals with a capacity of 3,000 beds in total. Cheah further said an initial public offering (IPO) is in pipeline a couple of years down the road.
Meanwhile, Sunway Bhd has also been named as one of the top 10 most attractive employers to work for in Malaysia for 2021 according to Randstad Malaysia.
Scientex Bhd reported a healthy net profit of RM109.88 mil for 3QFY1 ended April 30, 2021, on the back of record-high revenue arising from higher contributions from packaging and property development segments compared to a year ago. An interim dividend of 4 sen has been declared by the group, payable on July 23 2021.
News in brief:
World Bank cuts Malaysia’s 2021 GDP growth from 6.0% in March 2021 to 4.5% due to mismanagement of the Covid-19 pandemic by the Malaysian government — slow vaccination rollout and uncontrolled Covid-19 cases.
As the end for FMCO3.0 looms near (28 June 2021), the Malaysian Employers Federation (MEF) has urged the government to end the FMCO with immediate effect to stop causing further damage to the economy and livelihoods of Malaysians.
Shareholders of Dagang NeXchange Bhd (DNeX) has approved the acquisition of 60% equity interest in water foundry SilTerra Malaysian Sdn Bhd from Khazanah Nasional Bhd for a cash consideration of RM163.8 mil.
5. AROUND THE WORLD 🌎
Lalamove, the on-demand logistics and delivery firm has filed confidentially for a US IPO. The company, also known as Huolala in China, is looking to raise USD1 bil in its IPO. Founded in 2013 by Stanford graduate and former professional poker player Chow Shing-yuk, the company operates in over 20 markets across Asia, Latin America and the US with more than 700,000 driver-partners. It previously raised USD515 mil in its Series E round back in December 2020 - no valuation was disclosed but a Bloomberg reported that it was seeking USD8 bil.
Amazon announced that it has signed deals to buy power from 14 wind and solar farms across North America and Europe for a total capacity of 1.5 gigawatts, bolstering its position as the world’s largest corporate buyer of renewable electricity. The company aims to use renewable sources for all its power needs by 2025.
Amazon, Alphabet, Facebook and Microsoft are 4 of the top 6 corporate buyers of publicly disclosed renewable energy purchase agreements, accounting for 30% of 25.7 gigawatts of the total cumulative from corporations globally, according to Bloomberg. The other top purchasers are oil giant Total and telco AT&T.
The Delta variant of the Covid-19 virus, first identified in India, is raising concerns despite vaccines being rolled out globally. Israel, the country with the highest share of its population fully vaccinated, is seeing a surge in infections, with 70% of new infections being the Delta variant. Israel recorded 125 new cases on Monday, the highest daily count in 2 months. Meanwhile, in the US, Delta makes up about 20% of new cases, up from 10% from 2 weeks ago. White House medical advisor, Dr Anthony Fauci said the Delta variant is the “greatest threat” to the nation’s attempt to eliminate the coronavirus.
News in Brief:
TikTok’s largest rival, Kuaishou, which is also from China, announced that it has passed the 1 billion monthly active users (MAU) mark. Its app is known as Kwai overseas. For comparison, TikTok was forecasted to surpass 1.2 bil MAU this year, and its sister Chinese app, Douyin, exceeded 600 mil daily active users back in September. Kuaishou is listed in Hong Kong with a market cap of USD106.9 bil.
Egyptian officials and the owners of the giant vessel Ever Given that blocked the Suez Canal for 6 days, disrupting the global supply chain, have reached a preliminary deal over compensation, according to the ship’s representatives. The Suez Canal authority initially demanded more than USD900 mil, then later reduced it to USD550 mil, however, the ship’s insurers offered USD150 mil.
Warren Buffett has stepped down as a trustee of the Bill & Melinda Gates Foundation, following the upheaval in the charity due to the divorce between its namesake founders. Buffett has reached the halfway mark in giving all his Berkshire Hathaway shares to the foundation and has contributed more than USD27 bil over the past 15 years. He has about USD100 bil left to be given away.
Anti-virus creator, John McAfee was found dead in a prison cell in Spain according to his lawyer. The incident happened hours after a Spanish court agreed to extradite him to the US to face tax evasion charges.
6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)
The costs of treating the different type of cancers. Make sure you get yourself insured when you are still healthy.
Malaysia made it on National Geographic’s Instagram post - for its #kerajaangagal’s handling of the pandemic.