☕️ Khazanah's USD650 million investment in Jack Ma's Ant Financial 'stuck' for now

A 12-year old Korean kid's portfolio might be doing better than yours. MCO 2.0 SOP changes again, double standards treatment again. Reddit USD250mil fundraising, now worth USD6 billion.

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RM2.973 billion is the alleged amount received by former PM DS Najib Razak from 1MDB without any commercial and business justification.

43% returns — on a portfolio run by 12-year-old South Korean Kwon Joon (pictured below), as he aims to be the next Warrant Buffett.

1,178 Twitter accounts have been asked to be taken down, by the Indian government to counter misinformation about ongoing farmers’ protests.



  1. MCO2.2 updates, beginning today you can:

    • Dine-in with maximum two person per table, just in time for Valentine’s day.

    • Retail businesses such as clothing stores, accessory shops, kitchen appliances, florists and a few more will be allowed to opened with stricter SOP including three times disinfection per day.

  2. Supermax Corp Bhd will impose temporary stoppage for three days at its manufacturing facility in Meru beginning today as several workers got Covid-19. Supermax is actually the last of the big four glove makers to report cases of Covid-19 in their factories.

  3. Former Chief Justice Tun Arifin Zakaria will be the chairman of the Independent Special Committee on Emergency 2021. The committee serves to advise the Yang di-Pertuan Agong on the ongoing existence of major emergency in Malaysia and the end of it.

    The committee consists of 19 prominent figures made up of health experts, former deputy public prosector, former Inspector-General of Police, seven Member of Parliment from both government and opposition and a few more. Full listing is here.

  4. You can now “shop” for a banking account online on Shopee with Hong Leong Bank with the launch of the latter’s official store — you can “buy” three 3 types of saving accounts for now.

  5. Dialog Group Bhd’s net profit for 2QFY21 (Dec 31, 2020) fell by 16.9% to RM121.8 million as compared to the preceding quarter due to lower share of profits from JV and associates.

  6. AirAsia Group Bhd saw rebound for its Asean markets with key metrics improvement December 2020 when compared to September 2020 with AirAsia PH doubling its passenger and AirAsia ID’s passengers multiplied by 11 times. Local air travel demand improved as well with 834.9k passengers ferried in the 4th quarter of 2020 with passenger load of 72%.

  7. Latest double standard by the Government — Ministers’ only require 3 days quarantine as compared to the usual 10 after returning from overseas. Other than having power in ruling the country, do they get better immune system too after becoming a minister? Looks like it.

    Prime Minister’s Office is also asking for an apology from an UMNO leader, Datuk Mohd Puad Zarkashi after the later said the shortened quarantine period was directed by the PM.

    Loving the tweets from our local artist on the double standards SOP — Fahmi Reza. Here’s his compilation.


  1. Reddit, where the Gamestop and r/wallstreetbets saga started, has raised USD250 million in its Series E round, valuing it at USD6 billion, doubling its previous round’s valuation of USD3 billion in Feb 2019. It has 50 million daily active users and advertising revenue surged by 90% from a year ago.

  2. In 2018, a group of top institutional investors like Temasek, Canada Plan Pension Investment Board, Silver Lake etc (including Khazanah Nasional) participated in a coveted fundraising round of Ant Financial Group that raised USD14 billion, valuing Ant at USD150 billion, making it the world’s largest-ever startup fundraising and minted Ant as the the world’s most valuable startup.

    When you are hot, you dictate the terms - the terms of the fundraising round was highly favourable towards Ant. These foreign investors investors did not get any board seats, no voting rights and anti-dilution rights and their exit path is limited to Ant going public. The dreams of massive windfalls for these investors came crumbling down in Nov 2020 when Chinese regulators shelved Ant’s IPO at the very last day before its IPO. 

  3. Tesla’s sales in China doubled despite the pandemic to USD6.6 billion, accounting for 21% of its USD31.54 billion revenue. A year before in 2019, China only contributed USD2.98 billion (12%) to Tesla’s sales of USD24.58 billion. 

  4. Tesla has been summoned by 5 Chinese authorities relating to consumer complaints on quality issues. Its tone and response to Chinese authorities is in sharp contrast compared to US authorities as Tesla approaches the situation with deference as opposed to defiance in the US. Probably they have learned from Jack Ma and Ant - do not offend the Chinese government. 

  5. After spending the past 4 weeks in Wuhan to investigate for clues on the origins of the Covid-19 virus, an international team of scientists led by WHO said that the coronavirus ‘most likely’ originated in animals before spreading to humans and dismissed theory that the virus has been leaked by a laboratory in Wuhan. 

  6. Ho Ching, 67, the CEO of Temasek Holdings, Singapore’s sovereign wealth fund, will be stepping down this coming October. Ho Ching, who is also the wife of Singapore’s PM Lee Hsien Loong, has been leading Temasek for 17 years. During her tenure, its assets have grown from SGD90 billion to over SGD300 billion.

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