☕️ MoF: The reason for changing official cars from Perdana to Vellfire is due to savings of RM2.80 per car per month

PKR and Amanah to front 2 'frogs' in Malacca election. SEA's are valued at an estimated USD340bil. Elon Musk took to Twitter poll to decide selling 10% of his Tesla stocks worth USD21bil.

1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

USD340 bil — the value of digital companies in the Southeast Asia Region, estimated to grow to USD1 trillion by 2025.

The first real-world data of the human papillomavirus (HPV) vaccine showed an 87% reduction in cervical cancer cases. Cervical cancer is the 4th most common cancer in women globally, killing more than 300,00 each year.

USD230,000 — the expected price of a 17th-century copy of Leonardo da Vinci’s Mona Lisa when it goes under the hammer at a Paris auction tomorrow.


3. COVID-19 SUMMARY


4. IN MALAYSIA 🇲🇾

Politics and Local

  1. A group of seven diners at a floating restaurant in Langkawi, Restoran Terapung Sas Rimba, weren’t over the moon when they received the bill for their lunch — RM1,852.50! Over the weekend, it went viral on social media as the 7.48kg ‘siakap’ the seven diners ordered cost them RM1,196.80.

    The restaurant owner clarified she suggested the customer pick other types of fish, but they refused as they wanted THAT 7.48kg fish. Business as usual for the restaurant as tourists continue to flock to that restaurant. There is no such thing as bad publicity!

  2. The Ministry of Finance clarified that the reason behind Proton Perdana Premium’s change to Toyota Vellfire is to save money. To save RM2.80 per car, to be exact — Perdana’s RM4,854.41 vs Vellfire’s RM4,851.61. The ministry added the cars were supposed to be changed every four years, but the fleet of Proton Perdana is already six years old.

    With 41 cars in the fleet, we need to applaud the ministry for saving RM114.80 per month but not enough for 1 kg siakap in Langkawi lah.

  3. As we inch closer to the first 100 days of PM Ismail Sabri’s cabinet, ministers are starting to show how hard they have been working:

    The Education Ministry (MOE) has distributed all 150,000 digital devices to Malaysian students nationwide. Guess when does school start? Today.

    The Science, Technology and Innovation Ministry (Mosti) targets to have 1,000 innovation pioneers in 2022, averaging about 19.2 per week. However, between 2008 until now, there have only been 5,000 innovation pioneers. Can someone remind the minister a report card should show results instead of visions? A for effort!

  4. After seeing herself on a “Wanted” poster, Clare Rewcastle Brown said the cops know where she is if the Royal Malaysia Police (PDRM) wants to bring her in.

  5. Quick summary on the Malacca state election:

Business

  1. Greatech Technology Bhd, Pentamaster Corporation Bhd and UWC Bhd are collectively taking up 14 hectares in the Batu Kawan Industrial Park, with total investments of RM520 million for their expansion projects. Up to 1,300 jobs will be created as a result.

  2. Fraser & Neave Holdings Bhd will absorb the rising costs for as long as it can afford to do so. According to the chief financial officer (CFO), Lai Kah Shen, prices would be increased gradually as the last resort as the FMCG player saw palm oil prices surge 100% in just one year.

  3. Almost three months after saying US dollar-to-ringgit will drop to 4.20 to 4.40 range, DBS revised its stance and said ringgit is the cheapest currency among Asia ex-Japan currencies. Sometimes, we may be triggered by differing stances in short time frames, but Socrates once said, “It is better to change an opinion than to persist in a wrong one.”

  4. The Inland Revenue Board (IRB) knocked on Kapar Energy Ventures Sdn Bhd’s doors (KEV), asking for more than half a billion ringgit. KEV, a unit belonging to both Tenaga Nasional Bhd (TNB) and Malakoff Corp Bhd, received notices of assessment and additional assessment aggregating RM595.95 million.

    TNB said KEV believes that it has a reasonable basis in law to contend that the IRB incorrectly raised the assessments.


5. AROUND THE WORLD 🌎

  1. Tesla CEO Elon Musk on Saturday asked his 62.5 million followers on Twitter in a poll if he should sell 10% of his Tesla stock and would abide by the results of the poll. The poll ended with 3.5 mil votes and 57.9% saying yes to him selling his shares. 

    Musk owns about 170.5 mil shares as of Jun 30 and selling 10% of his stock would amount close to USD20 bil based on Friday’s closing. Analysts said that he has to offload a significant amount of shares anyway to pay taxes since a large number of options will expire next year.

  2. Uniqlo plans to launch a global flagship store in one of Beijing’s leading fashion districts, making it the first in the Chinese capital and the third in mainland China. This is a key step in its aggressive expansion strategy in China that aims to open 100 stores a year. 

    Including production partnerships, Uniqlo has been operating in China for the past 30 years. It now has over 850 stores across 180 Chinese cities, surpassing its presence in its home market in Japan. It employs 30,000 staff at its Chinese stores and is responsible for 1 mil jobs across its entire supply chain in China. 

  3. SoftBank Corp, the Japanese cell phone carrier will soon test technology that will charge earbuds, smartwatches and other wearable devices by simply walking near a 5G mobile base station. The wireless power transmission devices will be installed in 5G base stations being rolled out by SoftBank. SoftBank is currently replacing its 200,000 4G base stations across Japan with 5G versions. 

    To prevent adverse effects on the human body, only about 1 milliwatt of power will be delivered via a 28 gigahertz high-frequency band over a range of roughly 10 meters, with the radius to eventually be extended to approximately 100 meters. 

  4. A missing 16-year old girl in North Carolina was reportedly rescued after she used a viral TikTok hand gesture to indicate she was in danger and needed help. The signals — a mix of three hand gestures that convey "violence at home," "I need help," and "domestic violence" — have spread on TikTok as a means to help victims of abuse.

  5. Despite spending nearly USD51 bil in buying back its own shares since 2018 and another USD31bil accumulating Apple shares in 2016 through the end of 2020, Warren Buffett’s Berkshire Hathaway ended September with a record USD149.2 bil in cash


6. FOR YOUR VIEWING PLEASURE 👁👁

  1. A man helping the super slow-moving sloth to cross the road

  2. Famous YouTuber Mr Beast is recreating the set of “Squid Game”

  3. The Pacific nation of Tuvalu took an innovative approach to express the dangers it faces due to climate change with it Foreign Minister Simon Kofe shot a pre-recorded statement for the UN’s COp26 climate summit while knee-deep in the ocean to highlight the sea level rises affecting Pacific nations like his.