☕️ MCO is back. What is allowed?
Tun M in 'Top 20 Dangerous Extremist' list. Global Covid-19 cases topped 90 million. Twitter permanently banned Donald Trump.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
12.2 million additional supply of Pfizer-BioNTech vaccine has been ordered by the Malaysian government.
4.8% is the unemployment rate in Malaysia back in Nov ‘20 when CMCO was imposed.
105,000 (approximately) foreign workers have been screened for Covid-19 according to Socso.
USD12 billion - this is how much billionaire Oracle founder, Larry Ellison, made from his investment under 3 years in Tesla stock after purchasing 15 million shares before joining its board in Dec 2018. Ellison’s stake of 1.6% in Tesla increased from USD1 billion to USD13 billion during this period.
3. COVID-19 SUMMARY
Malaysia’s Health DG, Dr Noor Hisham Abdullah announced that the contagious Covid-19 variant, UK B.1.1.7 has been detected in Malaysia yesterday in a Facebook post. Please stay safe everyone.
4. IN MALAYSIA 🇲🇾
Putrajaya has reinstated the Movement Control Order (MCO) in Johor, Melaka, Penang, Sabah, and Selangor as well as federal territories of KL, Putrajaya and Labuan for a two week period starting Jan 13 2021.
Interstate travel will be banned.
Movement is limited to a 10-km radius and only allowed for essentials.
Dining in is not allowed.
Five essential economic sectors are allowed to operate, namely the manufacturing, construction, service, trade and distribution, and agriculture and commodities sectors.
The MCO is inevitable as PM reiterates that the country’s healthcare system is at its breaking point as government hospitals are unable to support over 2,000 positive Covid-19 cases per day. Read here to know what is allowed under MCO, CMCO and RMCO.
The Malaysian Palm Oil Board mentioned that crude palm oil (CPO) stocks slumped 19.2% to 583,761 tonnes in Dec ‘20 as compared to 722,451 tonnes in Nov ‘20. Business as usual for CPO plantations despite of the MCO.
Ramsay Sime Darby Health Care Sdn Bhd has picked three investment banks, namely Credit Suisse Group AG, Maybank and Morgan Stanley for an IPO to raise about US$300 million. The IPO is expected to happen in the second half of 2021.
Cryptocurrency hype is back once again with Bitcoin soaring past US$40,000 last week. Unfortunately, a 25-year old university student was duped in a cryptocurrency trading scam. She lost RM86,000. If it’s too good to be true, it probably is. The Securities Commission Malaysia only listed three digital asset exchanges, namely Luno Malaysia Sdn Bhd, SINEGY Technologies (M) Sdn Bhd and Tokenize Technology (M) Sdn Bhd.
A US-based group has listed Tun M among ‘Top 20 dangerous extremists.’ Counter Extremism Project mentioned Tun M (#14) is anti-semantic, a critic of the west and his remarks about the October 2020 terrorist attack in France as the main reasons of his inclusion. Tun M just brushed it off. See the full listing of the Top 20 here.
5. AROUND THE WORLD 🌎
Worldwide Covid-19 cases topped 90 million according to Reuters.
Chinese stocks fell the most in three weeks, led by consumer shares and commodity producers. CSI 300 Index dropped as much 1.5% before paring losses to 1% at the close at 5,441.16 points. There are ongoing concerns of stretched valuation of popular stocks.
The rumoured Apple Car seems to be coming earlier than expected. Apple and Hyundai are planning to sign a deal that would lead to a ‘beta’ version of Apple electric vehicle as early as 2022.
KKR, the private equity giant, is entering the music-copyright industry through an acquisition of a majority stake in pop producer Ryan Tedder’s catalog of hit songs, including songs from Beyonce, Adele and Stevie Wonder. The deal valued the catalog at nearly USD200 million, that includes copyrights and royalty streams for some 500 songs. That values each song at about USD400,000.
Over the weekend, Twitter permanently banned Trump from its platform after considering him a risk that could incite further violence. @realdonaldtrump has over 88 million followers. Following this, Twitter stock fell as much as 10% on Monday. Democrats are ready to impeach Trump after the US Capitol Hill siege, if Vice President Mike Pence does not invoke the 25th Amendment.
Turkey is amongst the first few nations to initiate investigation into Whatsapp and its owner Facebook after the messaging app asked users to agree to allow it to share user data with Facebook.
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