☕️ Meituan - China's USD312 billion, 3rd most valuable tech company

Former UMNO VP and Felda chairman found guilty of corruption. Meet Andy Jassy, the next Amazon CEO and Jeff Bezos' successor. Uber paid USD1.1 billion for an alcohol delivery company.

PSA - The blood bank is in need of blood due to shortage of supply of late. Find the list of places to donate blood at campaign locations here. Otherwise, you can donate at PDN in Jalan Tun Razak and PDN Donation Suite, Midvalley Megamall in Kuala Lumpur as well as Puspanitapuri Blood Donation Suite, Putrajaya.

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11.4 million subscribers — the Guinness World Record for “Most subscribers for a Chinese language channel on YouTube” goes to internet culinary sensation Li Ziqi.

240,000 cars — Perodua’s target of car sales in 2021. Related counters - MBMR, UMW

RM73 billion — total assets under administration of Affin Hwang Asset Management Bhd at the end of 2020.

USD6.9 billion - YouTube’s Q4 2020 revenue, up +46% from USD4.7 billion over the same period in 2019.



  1. Judge Mohd Nazlan Mohd Ghazali sentenced former Felda chairman Isa Samad to six years in prion and fined him RM15.4 million after finding him guilty of nine counts of corruption involving RM3.09 million over purchase of a hotel in Kuching seven years ago.

    Isa Samad is the 3rd high-profile member of the former Barisan Nasional government to be convicted for graft.

  2. Looks like the country’s plans for vaccination will begin as soon as Feb 26 as the delivery dry run for Pfizer’s vaccines to Belaga Health Clinic in Sarawak and Bintulu Hospital were successful according to Minister DS Dr Adham Baba.

  3. Malaysian Anti-Corruption Commission (MACC) arrested former Mara International Sdn Bhd (Mara Inc) chairman DS Azam Baki for 22 corruption charges for receiving bribes totalling RM33.45 million from dubious property purchases in Melbourne, Australia.

  4. Ekuiti Nasional Bhd (Ekuinas) is entering the healthcare and pharmaceutical space with the acquisition of a controlling stake in Medispec (M) Sdn Bhd for RM88.5 mil.

    Medispec is a local healthcare and pharmaceutical products distributor and offers more than 100 pharmaceutical drugs and 30 health supplements under both prescription and over-the-counter categories.

  5. Securities Commission Malaysia (SC) updated its investor alert list to include ten additional entities —FXTM, OctaFxPower Ltd, HXFX Global, Futu Inc, E-Paradise, Al Maju General Trading Co (Syarikat Al-Maju Trading), Morood Investment Ltd, Xsocio Markets, FP Market Trading Malaysia and Ettijah Investment. Be mindful of any dealings with these companies.

  6. 52,000 micro SMEs should receive their Prihatin Special Grant 2.0 payout totalling RM155 million by Feb 5 according to Finance Minister DS Tengku Zafrul Aziz.


  1. Meet Andy Jassy, Jeff Bezos’ successor.

  2. According to a recent study published in Justice Quarterly conducted by researchers from Washington State University and, Pennsylvania State University and Miami University, prestigious companies that are household names were more prone to committing financial fraud as opposed to companies that are struggling financially, especially companies with strong growth prospects. 

    This shows that the pressure to remain well-liked as a growth company in the eye of the public and market is a bigger motivator to engage in fraudulent activities as compared to the need to survive. 

  3. Uber announced that it will be acquiring Drizly, the alcohol delivery service for USD1.1 billion in stock and cash. Drizly will be integrated into the Uber Eats app whilst also maintaining it as a standalone app. Founded in 2012, Drizly is leading on-demand alcohol delivery service in the US and is available in 1,400 cities.

  1. The impact of low oil prices is surfacing in Kuwait, amongst the wealthiest nations in the world. Its government is running low on cash that it has to sell the last of its performing assets to the country’s sovereign wealth fund,  Future Generations Fund (FGF), in exchange for USD3.3 billion to plug its budget deficit. FGF, with USD600 billion in assets, is set up to safeguard for a post-oil future. 

    Unlike its neighbouring countries, lawmakers have blocked Kuwait from borrowing on international markets and funds in FGF can’t be touched without legislation and is hugely unpopular. Kuwait seems to have good governance and proper check and balance to prevent their sovereign wealth fund from being plundered and treated like a personal bank account. Familiar story?

  2. Following the footsteps of Ray Dalio and James Dyson, Google co-founder Sergey Brin has set up his family office in Singapore. He is ranked 9th richest person in the world with a net worth of USD86.5 billion. The Singapore government seeks to attract the world’s wealthiest people to its shores with favourable tax incentives and there is an estimated 200 single-family offices managing assets worth USD20 billion in Singapore as at October 2020.

  1. After staging a military coup in Myanmar, the military government is filing criminal charges against Aung San Suu Kyi and president Win Myint. Suu Kyi is accused for breaking export and import law and Win Myint is accused of breaching Natural Disaster Management law, with both carrying a maximum jail term sentence of 3 years. 

  1. Mario Draghi, the former head of European Central Bank, has been tapped to form a new italian government after Prime Minister Giuseppe Conte quit due to tensions arising from his handling of the Covid-19 pandemic in Italy. Investors and banks are clearly elated over this news with Italy’s main stock index jumping by more than 2% on Wednesday. 

  1. Meituan, which started out as a food delivery app, has seen its stock more than quadrupled in the past year making it the 3rd most valuable tech company in China with a market cap of USD312 billion, behind Tencent and Alibaba. It has expanded and branched out to other verticals, positioning itself as a super app and offering hotel, flight, taxi and restaurant bookings. 

    Meituan is expected to grow further as it grows and dominates the online grocery industry, which is estimated to be USD1.3 trillion in 2019 of which only 11% were transacted online. 

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