☕️ Malaysia's retirement system ranked 3rd in Asia and 23rd globally

Actor Fauzi Nawawi lambasted for making light of a rape scene in his movie. US wealth inequality: top 10% of households owns 89% of all US stocks. USD500 mil price for Netflix to stream Seinfield.

1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

17 million trees have been planted thus far nationwide under the Malaysian Greening programme. The programme targets to have 100 million trees planted in five years from 2021 to 2025. Minister of Energy and Natural Resources Datuk Seri Takiyuddin Hassan is confident the year’s target of 20 million trees can be achieved.

The International Energy Agency (IEA) said the world needs to invest USD4 trillion per year on clean energy to limit the rise in global temperatures to 1.5 degrees above pre-industrial levels, as agreed in Paris six years ago.

USD500 million — the amount Netflix is paying for the 180 episodes of Seinfield to be on the streaming platform in a five-year deal.


3. COVID-19 SUMMARY

  • Australian researchers found a cell-marker called hFwe-Lose or “Flower lose” to be a strong indicator of Covid-19 severity.

  • Additional 604,100 doses of AstraZeneca Covid-19 vaccines have been delivered by the pharmaceutical company. To date, 5.1 million doses of its vaccine have been delivered to Malaysia


4. IN MALAYSIA 🇲🇾

Politics and Local

  1. Fret not, no MySejahtera user data were leaked in the unsolicited OTP texts incident. Instead, the team found that the check-in QR registration feature meant for business premises was misused by some malicious scripts to send OTP to random phone numbers.

  2. Malaysia’s retirement system ranked third in Asia and 23rd globally, with the country’s overall index value at 59.6 in 2021, according to Mercer CFA Institute 2021 Global Pension Index. Malaysia went from a C+ rating to a C- grade this year.

  3. The MACC officer in an alleged theft of RM25 mil missing case evidence from MACC is now being investigated for drug trafficking. The police believe the suspect may have been involved in drug trafficking activities for over a year.

  4. Actor Fauzi Nawawi was lambasted by fellow Malaysians for making light of a rape scene in his previous film, ‘Anak Halal’. In the talk show Rumah No.107, he boasted about how he enjoyed filming the rape scene, which was deleted from the movie.

Business

  1. TNB made its maiden entry into the international offshore wind market by acquiring a 49% stake in Blyth Offshore Demonstrator Ltd (BODL), an offshore wind farm company in the UK, from French utility company EDF. BODL owns five turbines with a total installed capacity of 41.5 MW and has been operating since 2017. TNB aims to grow its renewable energy capacity to 8,300 MW by 2025

  2. Sime Darby Bhd will be turning its attention towards the luxury car market in China through establishing a foothold in the second and third-tier cities, noting that it has the highest growth potential. China is the world’s single largest luxury car market and also the fastest-growing. Sime Darby announced last year that it had earmarked RM500 mil as capex for its motor segment and looking to set up new greenfield showrooms in China.

  3. Daya Materials announced on Wednesday that it had received Bursa Securities approval for its regularisation plan. The company triggered Practice Note 17 (PN17) criteria on Feb 28, 2018, as its shareholders’ equity on a consolidated basis was RM19.1 mil, less than RM40 mil and represented less than 25% of its issued capital.

  4. Malaysia’s chip assembly industry warns that shortages — exacerbated by years of under-investment in basic chip production, while high-end semiconductors were favoured — will last at least two years. As a result of the supply squeeze, big-name customers are beating on their doors to lock in take-or-pay, longer-term deals — and happy to pay more if need be.


5. AROUND THE WORLD 🌎

  1. Semiconductor giant Micron Technology plans to invest more than USD150 bil globally over the next decade to drive memory manufacturing as well as R&D. Memory chip accounts for about 30% of the global semiconductor market. The company said its expansion plans could generate tens of thousands of jobs. Singapore, serving as its operational HQ outside of the US, employs about 8,600 employees and is committed to hiring 1,500 more in the next few years. 

    The country is also home to its largest manufacturing footprint, with three fabrication plants and a test and assembly facility. Micron said that memory manufacturing costs in the US run 35-45% higher than lower-cost places with established semiconductor ecosystems.

  2. How bad is wealth inequality in the US? The wealthiest 10% of American households now own 89% of all US stocks, a record high that highlights the stock market’s role in increasing wealth inequality. The top 1% alone, owning 32%, gained more than USD6.5 tril in corporate equities and mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added USD1.2 tril. 

  3. U.K. medical professionals have issued an urgent plea to the British government to reimpose some Covid restrictions due to the country's increased level of infections and hospitalizations. Despite being one of the first in the world to roll out its vaccination programme beginning in Dec 2020, immunity in vaccinated people wanes after about six months, leading to increase cases. 

    The U.K. is currently recording between 40,000 and 50,000 new Covid cases a day, and the number of hospitalizations and deaths is steadily rising, although at a much slower pace than earlier in the pandemic thanks to Covid vaccines. Making matters worse, potentially, a new mutation of the highly infectious delta variant is being watched closely by British experts. 

  4. KKR, the private equity giant, has teamed up with Dundee Partners to buy a portfolio of song rights from Kobalt Capital for USD1.1 bil in the latest music deal by PE firm. 

    The deal will give KKR access to more than 62,000 copyrights by artists across pop, rock, hip hop, country and other genres. Kobalt Music serves 25,000 songwriters and 600 publishers, including Paul McCartney, Enrique Iglesias and Phoebe Bridgers. 


6. FOR YOUR VIEWING PLEASURE 👁👁

  1. Faith in humanity restored — a bunch of guys singing ‘Baby Shark’ to a crying girl.

  2. Lighting is everything.

  3. Carbon dioxide emissions per capita by the rich countries.