☕️ How much of Covid-19 virus is out there? According to researchers - 0.1kg to 10kg globally
Royalty-linked company behind the destruction of UNESCO site, Tasik Chini. Party leaders met YDAP - probably nothing will come out of it.Berkshire Hathaway's rare private investment in a digital bank.
Know more, learn more. Be smarter in 3 minutes.
The underlined words are links! Click on them to the news article.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
RM18 million — MACC nabbed six bank employees for allegedly soliciting and receiving bribes from loan applicants who were not qualified to get approved.
1,000 MWh of renewable electricity annually will be generated in Bukit Mertajam as the district houses Dell Technologies’s largest on-site solar panel installation globally at the Dell Technologies Asia Pacific Customer Centre with solar photovoltaic system worth RM2.25 million. An average Malaysian household uses 998.7 kWh — the solar system can power 1,000 Malaysian families annually.
90% of AirAsia Group Bhd’s fleet of more than 200 planes have been grounded due to a resurgence of Covid-19 outbreaks. Group chief operating officer (COO) Javed Anwar Malik expects full return to pre-Covid demand levels across Asia by third quarter of 2022.
3. COVID-19 SUMMARY
R-nought continues to drop to 0.95 as of June 8 2021 with recoveries exceeding new positive Covid-19 cases in the past few days.
Health DG Tan Sri Dr Noor Nisham Abdullah clarified our current testing is in accordance to WHO’s standards of for every one positive case, there should be at least 10 negative cases.
Delivery of AstraZeneca Covid-19 vaccines made in Thailand will be delayed. Malaysia is supposed to receive 610,000 doses from Thailand this month.
Ismail Sabri said no one will be spared from punishments for violating SOPs under full lockdown, not even his son!
4. IN MALAYSIA 🇲🇾
Top Glove Corporation Bhd’s recorded net profit of RM2.03 bil for 3QFY21 but it's 29% lower q-o-q as average selling prices (ASPs) of gloves peaked in February 2021 and it expects the ASPs to drop further in the coming months. The US Customs and Border Protection’s bans on Top Glove’s subsidiaries reduced 4% of the sales volume q-o-q. The biggest glove maker in the world declared a third interim dividend of 18 sen per share.
The Pahang government has recently approved mining operations in the vicinity of Tasik Chini in Pekan to royalty-linked company, Hanishah Ventures Sdn Bhd despite the stage’s pledge to rehabilitate the country’s second-largest natural lake. The recent photo circulating in social media (in the tweet below) was from two years ago, clarified by MP of Pekan, Datuk Seri Najib Razak.
Back in 2019, the state government also gazetted Tasik Chini and the surrounding area as a permanent forest reserve as well. The waste from the mining activities which likely to go to Tasik Chini as Malaysian Nature Society (MNS) Pahang chapter chief Noor Jehan Abu Bakar said there is no one stopping them from dumping waste into the lake. Which begs the question, so what if it’s a UNSECO site?
Kuala Lumpur Kepong (LKL) has offered to acquire IJM Corp Bhd’s remaining 56.2% equity stake in IJM Plantations Bhd for RM1.53 billion cash for RM3.10 per share (494.87 million shares in total), a 26% premium over IJM Plantation Bhd’s last closing price of RM2.46 on Tuesday.
News in brief
Four party leaders met with Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah yesterday as means to get feedback on the Covid-19 situation and the state of Emergency in the country — Tan Sri Muhyiddin Yassin, Datuk Seri Anwar Ibrahim, Lim Guan Eng and Mohamad Sabu.
Selangor government has announced a second financial aid package worth dubbed Pakej Kita Selangor 2.0 worth RM551.56 million that is expected to benefit over 1.6 million Selangor residents.
Chief Minister Chow Kon Yeow said the state will proceed with Penang South Islands (PSI) project despite numerous parties’ objections. Chow asked people to also consider many socio economic benefits the PSI will bring.
5. AROUND THE WORLD 🌎
Breaking away from its traditional approach of investing in public listed companies, Warren Buffett’s Berkshire Hathaway has led the fundraising round of Nubank, the non-listed Brazilian digital bank operator and largest fintech startup in Latin America. Berkshire will invest USD500 mil out of the USD750 mil raised, valuing Nubank at USD30 bil. China’s Tencent invested in this round too. It has 40 mil users in Brazil, Mexico and Colombia. Founded in 2013, it has raised USD2 bil to date.
Brazil with a population of 213 mil, has 60 mil people without access to financial services and 250 mil across all of Latin America in a similar situation. The central bank over the years has sought to increase competition by supporting fintech startups that are willing to service the country’s lage unbanked population.
Competent leaders are able to think steps ahead and effects beyond the first order. Fortunately for Singapore, their leaders are competent enough to think years, if not decades ahead. The Monetary Authority of Singapore (MAS), the equivalent of Malaysian’s BNM, is working to build a climate-resilient portfolio and reduce its carbon footprint.
With USD398 bil (SGD527 bil) in foreign reserves, MAS partnered with Singapore’s sovereign wealth fund GIC to conduct climate scenario analysis on their portfolio. It ran a 20-year analysis, identifying climate change will adversely impact returns especially for equities. Given this, it is developing a climate risk overlay programme, which will reduce exposure to carbon-intensive sectors and creating a roadmap to set its own targets and strategies for emission reduction in its operations.
News in Brief:
Ride-hailing giant Grab’s upcoming SPAC merger with Altimeter Growth Corp, initially scheduled to be closed by July, will be completed by 4th quarter of the year,
Just how much of Covid-19 virus is out there? According to scientists, between 0.1 kg to 10 kg around the world, a strikingly low number that is enough to bring the world down to its knees.
Scientists have solved the decades-old mystery of how northern lights or auroras form in the sky, confirming the existing theory by simulating the conditions that produce an aurora in a vacuum chamber.
A new species of dinosaur has been found in Australia, making it the largest found in the country. At 16 foot tall and almost 100 foot long, nearly the length of a Boeing 737 aircraft, weighing about 70 tons is referred to as ‘the southern titan’ and scientifically known as Australotitan cooperensis and is amongst the 15 largest dinosaur specimens found in the world, roaming across Australia nearly 100 mil years ago.
6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)
The world’s largest cities by population size
NASA”s Juno probe at Jupiter beaming back the first image of Jupiter’s largest moon, Ganymede, in 2 decades.