☕️ Insiders reveal Bill Gates' character - an office bully who pursued sexual affairs

The US 5th and new USD1 tril club member-Facebook. YDPA reiterated that parliament is to reconvene ASAP - clear enough Mahiaddin? World's upcoming largest superyacht-Somnio, with 39 luxury apartments.

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

RM23.72 mil worth of methamphetamine and ketamine drugs weighing 448kg were seized with the arrest of a man and his son in Gerik, Perak.

USD1.01 trillion — Facebook, Inc. became the latest to join the trillion-dollar club after an antitrust court victory. A US federal judge dismissed two complaints filed against the company. Facebook is the fifth company in the US to achieve the milestone.

336 suicide cases were reported for the first three months of 2021 — averaging a staggering four suicide cases per day. The shocking statistic was released by health director-general Dr Noor Hisham Abdullah.

DG also urged those affected to reach out for support at the following hotlines:

  • Mental Health Psychosocial Support Service (MHPSS): 03-29359935 or 014-3223392

  • Talian Kasih: 15999, or WhatsApp 019-2615999

  • Jakim’s Family, Social and Community care centre: WhatsApp 0111-9598214

  • Befrienders Kuala Lumpur: 03-76272929


3. COVID-19 SUMMARY

  • Selangor will receive 4,008,710 doses of Covid-19 vaccine in July 2021, the highest compared to other states according to Selangor Public Health, Unity, Women and Family Development committee chairman Dr Siti Mariam Mahmud.

  • Defence Minister Datuk Seri Ismail Sabri Yaakob clarified that all states should follow standard operating procedures (SOP) set by the National Security Council (NSC) after Sabah has allowed for dine-in at restaurants as well as certain sports and recreational activities like golf, fishing and cycling.



4. IN MALAYSIA 🇲🇾

  1. What is the contract medical officers strike all about? An oversupply of medical graduates in Malaysia. Follow us on Twitter @breakmycoffee — we will be sharing the breakdown of the problem to our followers today.

  2. Yang di-Pertuan Agong has reiterated that the parliament should reconvene as soon as possible after granting an audience to Dewan Negara President Tan Sri Dr Rais Yatim and Dewan Rakyat Speaker Datuk Azhar Azizan Harun at Istana Negara yesterday.

  3. Genting Hong Kong Ltd has finalised its transaction with relevant financial creditors, partners and stakeholders to under the amendment and restatement of the cruise ship operator's financial indebtedness and recapitalisation to execute a fully-funded business plan.

    The cruise ship operator was assessing whether it will have “sufficient financial resources to continue as a going concern back in May 2021 after reporting a net loss of USD1.7 bil for the year ended December 2020.

  4. PNB Merdeka Ventures Sdn Bhd has launched a community grants programme to foster an integrated, thriving and culturally rich neighbourhood within the Merdeka 118 precinct. Three grant types will be offered, namely sports, arts and business community. Submissions will close on Aug 20, 2021.

    The building is expected to be completed by the 2nd quarter of 2022. Upon completion, it will be the tallest tower in Southeast Asia, measuring 656 meters from the ground to the tip of the tower's off-centre spire.

News in brief:

  1. Interpol’s Project Pandora initiative will come to Southeast Asia, including Malaysia, next year to help crackdown on biological threats emerging on the dark web.

  2. UMNO’s party elections have been postponed for 18 months beginning June 30 amid the Covid-19 pandemic and the ongoing Emergency according to the party’s secretary-general Datuk Seri Ahmad Maslan. In other words, Zahid Hamidi will remain the president.

  3. As the digital bank license application deadline draws closer (June 30, 2021), two more license applicants revealed themselves and their partners:

    • Sunway Bhd has teamed up with Tencent-backed Chinese fintech firm Linklogis Inc and Bangkok Bank PCL.

    • Green Packet Bhd has entered into a consortium with Zico Holdings Inc and M24 Tawreeq Sdn Bhd.


5. AROUND THE WORLD 🌎

  1. In this Business Insider report. Microsoft insiders reveal Bill Gates' character in the early days of Microsoft, described as an office bully and has a tendency to pursue sexual affairs. The squeaky-clean image the world has seen over the years? Merely good PR. 

    Follow this reading hack — to get around paywalls, change your browser to ‘reading mode’ or save the article to read-it-later apps like Pocket (free) and read from it. This trick can work around the paywalls of Bloomberg, Business Insider, Nikkei, NYT. Share this hack with your friends!
  2. China’s second-largest hydropower dam, Baihetan, has started generating electricity on Monday, another step closer to Beijing’s push towards a carbon-neutral nation by 2060. Baihetan has a total capacity of 16,000 megawatts, second only to China’s Three Gorges Dam, which has a capacity of 22,500 megawatts. 

    Baihetan started construction in 2017 and cost more than RMB300 bil (USD46.5 bil). China’s hydropower capacity totalled 370,000 megawatts at the end of 2020, accounting for 17% of the country's energy mix.

  3. Goldman Sachs and its 2 former top executives, former CEO Llyod Blankfein and former COO Gary Cohn have been denied their request by a US judge to dismiss the lawsuit brought against them, led by Swedish pension fund Sjunde AP-Fonden over the 1MDB scandal. The investment bank all this while has denied culpability and instead pin the blame on Tim Leisner, its former partner. 

    The 2 top execs have claimed they were not aware of any red flags and the judge said it “strains credulity” for Goldman to contend it had no indication the 1MDB transaction was mismanaged, especially when Cohn chaired the committee that approved Goldman’s 1MDB deal. Goldman Malaysian unit pleaded guilty last year and agreed to pay penalties of more than USD2.3 bil (for Malaysians, this is just a slap on the wrist given the damage they have caused), the largest fine in American history for violating anti-bribery laws

    News in Brief:

  4. Jacob Zuma, 79, the former president of South Africa has been handed a 15-month prison sentence for contempt of court after brazenly defying court orders for months to appear in front of a sprawling corruption investigation during his 9-year tenure from 2009 to 2018 as the president. 

  5. Even rich and successful individuals fall for fraud. In one of Singapore’s largest fraud cases, the nickel investment fraud scheme created by Ng Yu Zhi through Envy Asset Management, which involved close to SGD1 bil (USD744 mil), had high profile names fell for this scheme and no small amount was lost. This includes the chairman of Vickers Capital Group, Finian Tan (USD19.2 mil), Temasek’s general counsel Pek Siok Lian (SGD5.5 mil), and criminal lawyer Sunil Sudheesan (SGD 1mil).

  6. Duolingo, the language learning app that has been downloaded more than 500 mil times and has 40 mil monthly active users have officially filed for a US IPO. It was last valued at USD2.4 bil after a USD35 mil funding back in November. Its revenue grew from USD70.8 mil in 2019 to USD161.7 mil in 2020, a 129% increase. No surprise - it is still loss-making with USD15.8 mil losses in 2020.


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

  1. The fan, in an attempt that caused a massive crash during the Tour de France will be sued for the incident.

  2. Vaccine orders in Southeast Asia by type.

  3. Plans for the USD600 mil world’s largest yacht were revealed on Monday. The 728-foot long superyacht, called Somnio, is set to have 39 apartments, starting at USD11.2 mil with each unit having its own gym and library. Something we think Jho Low might fancy.