☕️ JKJAV: Malaysia to receive 14.4 mil vaccine doses in July 2021
Moratorium application starts today but BNM warns it will cost more. Saudi Arabia's USD133 bil transformation plan to wean itself off oil. 150 students missing in a mass kidnap in Nigeria.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
UMW Toyota Motor will invest RM270 mil in its local manufacturing operations and facilities to produce locally-assembled (CKD) Hybrid Electric Vehicles (HEV).
Malaysia will be receiving 14.4 million doses of Covid-19 vaccines in July 2021, according to the Covid-19 Vaccine Supply Access Guarantee Special Committee (JKJAV).
6.43 mil of Pfizer
1.59 mil of AstraZeneca
6.38 mil of Sinovac
3. COVID-19 SUMMARY
Approval letters issued under the SMILE system (Sistem Maklumat Industri Logistik) dated June 1, 2021, are still valid for the logistics and transportation sector.
112 private hospitals nationwide have agreed to treat Covid-19 patients, according to Health Minister Datuk Seri Dr Adham Baba. These hospitals would provide 1,277 ward beds and 129 ICU beds to handle Covid-19 cases nationwide.
Do the National Recovery Plan’s (NRP) three thresholds really hold water? Pahang’s Covid-19 Rt increased to 1.24 after it transitioned into NRP’s Phase 2.
313,761 doses were administered on July 5, 2021, a new all-time high. At least 20% of the population has received their first dose. Selangor has a lot of catching up to do if it wants to move to Phase 2 of the National Recovery Plan.
4. IN MALAYSIA 🇲🇾
Health Ministry (MOH) issued a circular sighted by Malaysiakini states existing contract doctors will be offered reappointment on a contract basis as medical officers from Dec 5, 2021, to Dec 4, 2022. The circular also stated HODs are requested to prioritise the contract doctors’ placement at vaccination centres (PPV) in line with the implementation of the National Covid-19 Immunisation Programme. What happens when Covid-19 eventually ends?
Application for the six-month moratorium in line with the PEMULIH stimulus package opens today, according to Bank Negara Malaysia (BNM). Check with your respective banks on their website to find out more. BNM gently warns borrowers that it’ll cost them more if they opt for a moratorium. So how is it a stimulus package when it bites borrowers later on? This is kicking the can down the road.
If you can assist those who need it in this current climate but unsure where to turn to, you can try out kitajaga.co or Sambal SOS web page. The latter was created by students from Multimedia University (MMU).
Top Glove Corp Bhd is temporarily halting the operations of its medical glove factories in Klang following the imposition of EMCO in the district while it waits for clarification from the National Security Council. The counter dropped to its lowest level since May 2020 to RM3.93 during yesterday’s session before closing slightly higher at RM3.95, giving the glove marker a market cap of RM32.42 bil.
AEON Credit Service (M) Bhd posted strong 1QFY22 results with a net profit of RM163.09 mil, 521% higher than the previous corresponding quarter of RM26.28 mil. The higher profit was contributed by an increase in other income comprised bad debts recovered, insurance commission and interest or profit income from deposits.
Pahang’s MB Wan Rosdy Wan Ismail has clarified the ongoing enforcement operation against illegal plantations, including Musang King orchards at the Batu Talam permanent forest reserve, Raub is being carried out in accordance with the law.
UMNO’s president Datuk Seri Dr Ahmad Zahid Hamidi had back in April 2021 denied it was his voice in the phone conversation with PKR president Datuk Seri Anwar Ibrahim. Zahid has also learned the PN’s classic u-turn tactic for political gains by admitting it was him in the phone call, and he had signed a statutory declaration in support of Anwar as the PM.
UMNO supreme council member Datuk Dr Mohd Puad Zarkashi has confidently said the party will withdraw its support for the Perikatan Nasional administration. The supreme council will finalise the decision. This shouldn’t come as a surprise as Zahid had earlier given PN a 14-day ultimatum to reconvene the parliament.
5. AROUND THE WORLD 🌎
To wean itself off oil revenues, Saudi Arabia will invest over 500 bil riyals (USD133.3 bil) in airports, seaports, rail and other infrastructure by the end of the decade to develop the kingdom into a global transportation and logistics hub, its transport minister announced. This strategy is the latest economic policy to put Riyadh in competition with the United Arab Emirates, the region’s business, trade and tourism hub.
The nation will launch a new national carrier, increase international aviation routes from 99 to over 250 and more than triple annual passenger traffic from 103 mil in 2019 to 330 mil by 2030 to compete with its neighbours UAE and Qatar, both of which are large air transit hubs. It will increase air cargo handling from 900,000 tonnes in 2019 to 4.5 mil tonnes to become a global air freight logistics hub.
A regional acquisition spree has catapulted a relatively unknown Swedish company, Embracer Group AB, to become Europe’s most valuable video-game developer, overtaking French rival Ubisoft Entertainment SA (popular games: Assassin’s Creed, Tom Clancy) to reach a market cap of USD13 bil. Founded by 44-year old Lars Wingeford, he started out selling comics by mail-order before branching into video games. Its stock price has surged 30x since its listing in 2016.
In the past 12 months, it has announced 27 takeovers, outpacing UK business service provider Marlowe Plc, which announced 12 deals during the similar period. This M&A drive has nearly doubled Wingeford’s 28.4% stake in the company from USD1.4 bil to USD2.4 bil. Its acquisition have been small companies but steadily increasing in size. It now oversees 69 development studio and more than 200 game projects. Unlike its competitors that focus on triple-A games, Embracer mostly focused on second-tier titles with decent followings, refining and refreshing older games and repackaging assets from other studios into another game.
150 students were missing after armed men raided a boarding school in Nigeria’s Kaduna state, making it the 10th mass school kidnapping since December in northwest Nigeria. At least 25 pupils had managed to escape. These armed men, locally known as bandits, have made an industry of kidnapping pupils for ransom payment, with Kaduna state particularly hard hit. They have taken nearly 1,000 people from schools since December, with more than 150 remain missing.
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News in Brief:
Pine Labs, the Indian startup that acquired Malaysia’s Fave, has announced it raised a USD600 mil financing round, valuing it at USD3 bil with participation from names like Fidelity Management and BlackRock. It also counts Temasek, Sequoia Capital India, PayPal and Mastercard among its early backers. Pine Labs offers hundreds of thousands of merchants payment terminals, invoicing tools and working capital.
Formula 1’s Australian Grand Prix which is supposed to be held in Melbourne from Nov 18-21 has been cancelled for the second consecutive year due to the coronavirus.
China’s ride-hailing giant, Didi’s US-listing, is off to a bad start. Its shares plunged more than 30% in premarket trading on the US market on Tuesday, after China cracked down on the company and ordered app stores to remove Didi’s apps, only days after its blockbuster IPO. At this point of writing, it share price is down more than 10% from its IPO price.
Volkswagen is giving up control of Bugatti, the ever unprofitable, storied automaker of absurdly expensive hypercars. A Croatian company, Rimac that has made a name for itself doing design and engineering projects for large automakers will own 55% in the new joint venture with VW’s Porsche owning the remaining 45%. Financial terms were not disclosed.
6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)
The distribution of population in Africa. In red: Nigeria
Usain Bolt sprinting in zero-gravity