☕️ Meet 'the best delivery guy in town' - Tony Fernandes

Tycoon Vincent Tan to give half his wealth away. Prediction: Neelofa & VIPs to get away with SOP breach at wedding ceremony. Explosion caused by 2 suicide bombers at a church in Makassar, Indonesia.

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1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

RM32.2 billion — the amount of outstanding debt of 1MDB, despite the company’s continuous recovery efforts. That is RM1,007 owed by every single Malaysians.

6,000% — the mark up of SMS (those without unlimited plan). Find the list of 32 products with the highest mark up here.

97.4% of Scotland’s energy demand were generated from renewables in 2020, when the country narrowly missed the target of 100%.

3.35 million members — UMNO’s number of members, making it the biggest political party in the Malaysia


3. COVID-19 SUMMARY


4. IN MALAYSIA 🇲🇾

  1. The tycoon which recently passed the baton to an “outsider”, Berjaya Corporation Bhd founder and executive chairman, Tan Sri Vincent Tan said he would pledge half of his wealth to charity when he is no longer around to mainly help the underprivileged to own affordable homes. According to Forbes, he has a net worth of USD750 million as of 2020.

  2. AirAsia Group Bhd co-founder and group CEO Tan Sri Tony Fernandes has huge plans for the post pandemic world as he wants to be the best delivery guy in town. The group plans to introduce ride hailing service after dipping its toes into food delivery service. Fernandes is also eyeing the logistics sector by having “direct connectivity”, with AirAsia leasing its first Boeing 737 freighter to undertake its logistics business. Can Uncle Tony pull this off?

  3. Another week, another Datuk lands in hot soup as a 33-year-old Datuk Seri wanted for his alleged involvement in a money laundering and commercial syndicate. Apparently, there could be as much as 650 honourable titles issued per year but this is probably an outdated number from 2002. While the system with rich tradition is not wrong, it has lost its lustre and credibility over the recent decades with such cases as above.

  4. Local celebrity Neelofa tied the knot over the weekend with preacher PU Riz. Cops are probing the ceremony over suspected breach of Covid-19 standard operating procedure (SOP). Let’s see how this pans out over the next week or so. Will the VIPs escape unscathed?

  5. Over the weekend, UMNO held its 75th AGM and there was an unanimous decision to severe ties with Parti Pribumi Bersatu Malaysia for the upcoming 15th general election. Party president Datuk Seri Ahmad Zahid Hamidi said Umno under Barisan Nasional will head into the elections alone.


5. AROUND THE WORLD 🌎

  1. Check out IsTheShipStillStuck.com - a live status of the stuck Ever Given vessel in Suez Canal that is causing havoc in the global supply chain.

    There are at least 20 livestock ships amongst more than 200 vessels that have been unable to pass through Suez Canal. Concerns are rising that animals stranded on the ship will starve, dehydrate and eventually die. The situation is considered a ‘ticking biohazard timebomb’ for animals and the crew and any persons involved.

    A declassified US file has revealed that the US considered to create an alternative to Suez Canal that flows through Israel, 160 miles in length, in the 1960s using 520 nuclear bombs, as conventional methods of excavation would be ‘prohibitively expensive.

  2. A Catholic church in Makassar, an Indonesian city, was targeted by 2 suspected suicide bombers on Sunday morning, the first day of the Easter Holy Week. The 2 suspects are confirmed dead and 20 people were injured. The bombers tried entering the church but were stopped by a security officer. Fortunately, the officer was only wounded. So far, no one claimed responsibility for the bombing. 

  1. NASA has unveiled the Commercial LEO (Low Earth Orbit) Destinations (CLD) project, with plans to award up to USD400 mil to as many as 4 companies to develop and build new habitats in space, or new private space stations, as the International Space Station (ISS) is aging. This move is to replicate the success of its Commercial Cargo and Commercial Crew programmes, the later which is estimated to have saved NASA USD20-30 bil by engaging the private sector.  

  2. Saturday saw the deadliest day in Myanmar since the military coup started in February with at least 90 people killed, including civilians  who weren’t taking part in the protests. The death count is expected to climb as more are verified and documented. Some of the victims include a 13-year old girl shot inside her house, a 16-year old boy shot while riding a motorcycle and a father of 4 burned alive. 

    A dozen defense chiefs from North America, Europe and the Asia Pacific jointly condemned the use of lethal forces against unarmed civilians by the military with the EU delegation in Myanmar calling Saturday a ‘day of terror and horror’. 

    As of Saturday, a total of 2,428 people were detained in relation to the military coup and at least 423 people were killed by the junta, according to the Assistance Association for Political Prisoners. 

  3. Get paid on your loan to buy a property? It’s happening now in Portugal with an estimated 60,000 mortgage holders, doubling from 2019, seeing negative mortgage rates of -0.25% - meaning their banks are paying them interest on their loan. This is a consequence of low interest rates across the developed world, as central banks kept cutting interest rates to battle the economic impact of the pandemic. Similar situation is also being observed in Denmark, however, Danish banks are imposing fees on deposits, which in many instances offset the interest the mortgage holders are receiving. 

  4. Dominion Voting Systems, whose technology was used during the US 2020 election, has filed a USD1.6 bil defamation lawsuit against Fox News over false claims during the 2020 election that has caused ‘enormous and irreparable economic harm’. Fox News gave airtime over false and baseless claims that Dominion had changed votes through algorithms in voting machines and had supposedly been created in Venezuela to rig elections for the late dictator Hugo Chavez. In February, another electronic voting company, Smartmatic USA, also filed a similar lawsuit of USD2.7 bil against Fox News and Rudy Giuliani, Donald Trump’s personal lawyer. 

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