☕️ Millionaires created out of Tesla - Teslanaires
A vaccinated individual got infected by Covid-19. Only when politicians get hurt, the problem will be fixed. When robots dance better than you.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
3.4 million units of PlayStation 5 were shipped in the first four weeks of sales, the highest ever for a PlayStation console.
50,354 is the official number of Covid-19 cases in Wuhan, the city where the virus started. However, a study reveals that the actual number of cases could be 10x higher (5% of Wuhan’s population).
US$520.2 billion - market cap of Bitcoin as it hovers around US$28,000 per bitcoin.
HK$661 billion - the amount of shares Mainland investors (China) has splurged in Hong Kong Stock Exchange.
3. COVID-19 SUMMARY
4. IN MALAYSIA
United States Customers and Border Protection (CBP) has issued a withhold released order on any palm oil and products manufactured by Sime Darby Plantation Bhd (SDPB) citing forced labour. SDPB is the third company in Malaysia to be slapped with a US ban in 2020 over forced labour allegations after FGV Holdings Bhd and Top Glove Corp Bhd.
UEM Sunrise Bhd is selling 169.8 acres of land in Iskandar Puteri to AME Elite Consortium Bhd for RM434.4 million. AME Elite aims to generate more than RM1.5 billion in Gross Development Value with these lands.
Meanwhile, Muar MP Syed Saddiq has gone bald to raise money for the needy in his constituency. He managed to raised RM383,000 (as of 7pm Dec 30, 20), almost double his target of RM200,000. Good on him! The donation drive is still ongoing, find out more here!
Kelantan police has arrested a 25-year-old male suspect believed to have been involved in the illegal poaching syndicate. The police has managed to seize the carcass of a tiger, a black panther and 10 elephant tusks estimated to be worth RM500,000.
Employers have been instructed by Employment Provident Fund (EPF) to remit their mandatory EPF contribution on the 15th of every month starting January 2021. Previously, EPF allowed employers to remit on the 30th of every month from April until December 2020 due to the Covid-19 pandemic.
High Court’s judgement today has allowed Tenaga Nasional Berhad (TNB) to challenge Inland Revenue Board of Malaysia’s (IRB) RM3.98 billion tax claim on TNB’s assessment years 2015, 2016 and 2017.
The Works Ministry has promised to fix potholes on federal roads within 24 hours of receiving a complaint while permanent repairs will be done in three days. Thank you KJ for taking the fall, Malaysians owe it to him. Provocative local artist Fahmi Reza had something in mind as well.
Moral of the story: Want to get a problem fixed? Get the politicians to suffer it and the solution will be expedited.
5. AROUND THE WORLD
A nurse in the US that has received the Pfizer vaccine a week ago has contracted Covid-19. However, an infectious disease expert commented that this is not unexpected as people are told to exercise precautions 10-14 days after getting the jab as it is still possible for them to catch the virus. Pfizer’s vaccine comes in 2 doses with the first dose giving only 50% protection and with the second dose increasing it to 95%.
Meanwhile, the US has confirmed its first case of the new Covid strain discovered in the UK. The infected patient does not have a history of travelling. Although the new strain is more contagious, a major study found that it does not cause severe illness nor higher death rate.
What’s the difference with the dot-com bubble and today’s soaring stock market? Interest rate. In 2000, Fed Funds rate was around 5.85%, meaning investors had a better alternative than stock market to invest in fixed income assets. Now, with the Fed Fund rate nearing zero, there are no other alternatives compared to before. With interest rate staying this low, the share market is likely to keep pumping no matter how bad the underlying economy is.
Tesla’s dizzying 700% rise in its share price this year has created Teslanaires - investors that have bought Tesla shares and saw their fortune rise to become millionaires.
Jack Ma is USD12 billion ‘poorer’ than 2 months ago, from about USD62 billion to US50.9 billion. Alibaba and Ant in the past week have been hit hard by regulators for anti-monopoly practices and flaunting financial regulations.
Hyundai, after acquiring Boston Dynamics from Softbank for USD917 million has got its robot dancing impressively. See below their dance moves.
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