☕️ Leaked Files: China's mishandling of Covid-19 at its early stages
Meet Blippi, the mega rockstar amongst kids with 10.5 million subscribers. Facebook's USD1 billion acquisition. Elon Musk's 'Teslaquila' is now called 'Tesla Tequila'
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PSA: 16,667.5 tonnes of food waste is generated daily in Malaysia, with most of it considered edible and sufficient to provide 3 meals to more than 2 million people per day. Do your part to reduce food waste and see how you can support these 11 organisations addressing this problem.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
73rd - Malaysia’s ranking globally in Gender Gap Index 2019, dropped ten places compared to 2018.
$20,000,000 is the amount Stevin John, famous YouTuber named Blippi makes a year. 10.5 million subscribers with cumulative views of 7.97 billion on YouTube. Before becoming a rock star amongst kids, Stevin served the military.
442 petaflops - the world’s fastest supercomputer, the Fugaku. To put it into perspective, an Xbox Series X has 12 teraflops. The Fugaku is 36,833 times faster.
3. COVID-19 SUMMARY
4. IN MALAYSIA
We’re talking about RM650 million total fines if Minister of Human Resources (MoHR) found Top Glove Corp Bhd in violation of all offences investigated under Workers’ Minimum Standards of Housing and Amenities Act 1990 (Act 446). Fines up to RM50,000 per offence and Top Glove Corp Bhd has about 13,000 employees in Malaysia. Do the maths.
UEM Sunrise Bhd has been granted extension until 31 Jan 2021 by Securities Commission on the controversial proposed merger with (or bailout of) Ecoworld Development Bhd.
Council of of Palm Oil Producing Countries (CPOPC) said palm oil prices will continue to rise in the 1st half of 2021 as global supply remains tight due to a La Nina weather pattern.
Another IPO before the year ends? HPP Holdings Bhd which produces and trades paper-based packaging and rigid boxes has received the nod from Bursa to list on ACE Market.
RM109.8 billion worth of approved investments in the manufacturing, services and primary factors were made in Malaysia for the first nine months of 2020 according to International Trade and Industry Ministry (MITI). These investments involved 2,935 projects and will go on to create 69,701 job opportunities.
5. AROUND THE WORLD
Leaked files showed that China mishandled and underreported Covid-19 cases during the early stages of the pandemic.
The death of Tony Hsieh, former CEO of Zappos, is ruled as an accident. Cause of death: complications due to smoke inhalation.
Mexico is not allowing Elon Musk to name his tequila ‘Teslaquila’. Mexican Industry of Industrial Property rejected the registration of the brand Teslaquila in Mexico as it is too close to the designation of origin tequila. Instead, it will be called ‘Tesla Tequila’.
Singapore will soon be implementing ‘Open Banking’ where Singaporeans will be able to access and view their multiple bank accounts in one consolidated view for a seamless and holistic planning of their assets and liabilities.
Facebook made a USD1 billion acquisition of Kustomer, a customer service platform that aggregates a business’ various social media channels into one to provide better data and insights of their customers. Same price tag as it paid for Instagram, but this news doesn’t seem to be as hot as Instagram’s acquisition.
BTS, the global K-pop boy band phenomenon, so influential is their success that South Korea’s Parliament has revised the country’s Military Service Act to allow K-pop stars to postpone their military service until they turn 30, instead of 28, though no exemptions will be granted.
K-pop entertainers that have received government medals for elevating the country’s cultural influence are able to apply for deferment of their military service. BTS was the first-ever K-pop group to top the US Billboard Hot 100 singles chart with their song ‘Dynamite’.
DoorDash, competitor to GrubHub and Uber, will be raising up to USD2.8 billion its IPO, giving it a valuation of up to USD32 billion - 2x its last private valuation back in June. Its revenue 9M FY2020 at 30 Sep 2020 is USD1.9 billion, up from USD587 million, and narrowed its losses to USD149 million, from USD533 million net loss compared to the same corresponding period last year.
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