☕️ Malaysia surpassed India to be #1 with highest daily new Covid-19 cases per million people
Senior Defence Minister not aware Genting casino was operating. Finance Minister, for unknown reasons, still expects economy to grow in 2021. Snap's USD500 mil, biggest acquisition - WaveOptics.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
USD132.5 bn — the value of goods South Korea exported to China in 2020, almost double the goods exported to US (USD74 bn).
4.5 million passengers’ personal data were leaked in Air India’s data breach in February 2021.
There are now 171 billionaires in the United Kingdom, with their wealth rising 21.7% during the pandemic to £597.2 bn. The richest guy in UK is Sir Leonard Blavatnik (pictured below) with a fortune of £23 bn.
3. COVID-19 SUMMARY
Ministry of Finance (MoF) had approved an additional allocation of RM200 million to the Ministry of Health (MoH) to increase the capacity of intensive care units and beds with the sudden surge of Covid-19 cases nationwide.
MCO3.0 (v3.1 stricter version edit) — limited operating hours of businesses, more people working from home, stricter roadblocks.
Our beloved Senior Minister Datuk Seri Ismail Sabri Yaakob who chairs the National Security Council in tackling Covid-19 wasn’t aware that casinos were in operation, until a cluster had been formed as a result.
4. IN MALAYSIA 🇲🇾
Pharmaniaga Bhd’s net profit for 1QFY21 ended March 31 2021 rose 3.3% y-o-y to RM23.14 million on the back of lower finance cost and declared an interim dividend of four sen per share, to be paid on July 6. The group’s priority for the year would be to supply and distribute the Covid-19 vaccine.
Group managing director Datuk Zulkarnain Md Eusope said the group has brought in 400,000 doses of the Sinovac Covid-19 finished product and distributed them to the Government healthcare facilities. Pharmaniaga LifeScience Sdn Bhd is seeking to increase its production capabilities to four million doses monthly of the Sinovac vaccine for Covid-19 by as early as August.
Malaysia and China are exploring new areas of common interests to strengthen bilateral collaboration after Prime Minister Tan Sri Muhyiddin Yassin’s rather positive video conference with Chinese Premier Li Keqiang. However, PKR Chief Datuk Seri Ibrahim chided the country on the slow procurement of Sinovac Covid-19 vaccine with only 7% delivered compared to neighbour nations.
As many as fifteen witnesses will be scheduled to testify in Datuk Seri Ahmad Zahid Hamidi’s second graft trial involving 40 charges in relation to the foreign visa system which begins today. There are 33 charges on counts of receiving SGD13.56 million from Ultra Kirana Sdn Bhd as an inducement for himself in his capacity as civil servant and 7 remaining charges on acceptance of S$1.15 million, RM3 million, €15,000 and US$15,000 in cash from the same firm.
On May 21 2021, another detainee died in the Gombak police HQ. The security guard was being served a warrant of arrest due to failure to attend court as the 43-year-old had failed to attend court proceedings. The guard had difficult breathing upon arrival at the station. The death is the second in recent months following A Ganapathy’s death back in April 18 2021.
Muar Member of Parliament Syed Saddiq Syed Abdul Rahman was asked to have his statement recorded over a video he posted over his TikTok account regarding deaths in police custody with the following tag #JusticeForGanapathy. The former Minister of Youth and Sports’s handphone was confiscated by the police as well.
News in brief
The country’s GDP is estimated to be 1% lower due to MCO3.0 as mentioned by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. As a result, GDP growth is expected to about 5% to 6.5% for 2021.
Bursa Malaysia Bhd granted an automatic one-month deadline extension to Main Market- and ACE Market-listed companies to issue their quarterly financial statements and annual reports due respectively on May 31, 2021 and June 30, 2021 in view of MCO3.0.
AGC chambers have received the investigation papers filed against Neelofa and her husband’s violation of the SOP. Will she escape with monetary fines only?
5. AROUND THE WORLD 🌎
Oatly, the non-dairy, oat-milk maker made its public market debut on Thursday on Nasdaq with the ticker ‘OTLY’. It raised USD1.4 bil valuing it at USD10 bil. Oatly made its US debut in coffee shop 5 years ago. Unlike other dairy replacements, oat milk’s creamy texture and ability to froth became popular with baristas and coffee drinkers before it was sold in grocery stores. Although oat milk sales have tripled in 2020 based on Nielsen data, almond milk still holds the top spot for dairy substitutes.
Oatly’s revenue doubled in 2020, reaching USD421.4 mil and in typical fashion of a venture-backed company, it recorded a net loss of USD60.36 mil. It counts Oprah Winfrey, Natalie Portman and former Starbucks CEO Howard Schultz amongst its investors.
Belgian’s budget state secretary, Eva De Bleeker, tweeted the price list of the vaccines it will pay on Twitter, with the amounts of each vaccine her country will be buying from the EU, angering the pharma manufacturers as it is considered a breach of confidentiality. The tweet has now been removed. How much of this ‘confidentiality’ holds during this moment of global pandemic crisis and wouldn’t it be of greater public interest in the transparency of vaccine prices?
This is the list of what the EU is paying:
Oxford/AstraZeneca: €1.78 (£1.61).
Johnson & Johnson: $8.50 (£6.30).
Belgium is buying more than 33 mil vaccines for a total EUR279 mil.
Snap announced its latest iteration of its Spectacles augmented reality glasses. It also dropped the news that it is acquiring the startup that supplied the technology that powers Spectacles. The company in reference is WaveOptics, an AR startup that makes the waveguides and projectors used in the AR glasses. Snap is paying over USD500 mil in a cash-and-stock deal, making it Snap’s biggest acquisition to date. The startup has 12 filed and in-progress patents.
News in Brief:
CNA Financial, one of the largest insurance companies in the US, reportedly paid hackersUSD40 mil after a ransomware attack blocked access to the company’s network and stole its data, which could make it the largest ransomware hacker payments yet.
WeWork’s losses in its first quarter 4x from USD556 mil in the same quarter last year to USD2.1 bil due to the pandemic, reducing its customers by 30%. Its quarterly revenue halved from USD1.1 bil to USD598 mil as customer numbers declined from 693,000 to 490,000.
6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)
Well done PN - Malaysia now Nombor 1 di dunia for daily new confirmed Covid-19 cases per mil, ahead of India.
The oldest spiral galaxy discovered recently that is 12.4 bil light years away, beating the record by a billion years.