☕️ No buyer for its RM1.1 bil price tag, so Jaya Grocer is considering an IPO

Top Glove boss wants to live up to 120. Fidelity written down its An Group investment by half - Khazanah to follow suit? Robinhood hit back at Warren Buffett after comparing it to a casino.

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7.8 million PS5 consoles have been sold by Sony since November 2020 release as the company eyes a broad entertainment empire.

15,017 Protons were sold in April 2021, equivalent to an estimated market share of 26.7%.

myTukar records revenue of over RM1 bil as it has transacted more than 40,000 cars.


  • Khairy Jamaluddin has denied allegations that the vaccination rate in the country is slow and low as vaccination jabs are done according to the supply delivery schedule. Meanwhile, the country is getting 258,570 Pfizer shots this week.

  • Neelofa and husband got caught in hot soup again for violating CMCO as the couple appeared in carpet shop in Nilai 3, Negeri Sembilan.


  1. Duopharma Biotech Bhd announced an improve set of financial results for 1QFY21 ended March 31 2021 with net profit RM17.61 mil, increased 29.9% from RM13.56 mil. The group announced a one-for-three bonus issue, 239.93 million new shares which will be issued on a date to be announced later.

    On top of that, Duopharma expects satisfactory results for FY21. The group has entered into a term sheet agreement with the Ministry of Health to supply 6.4 million doses of the Sputnik V vaccine for Covid-19.

  1. Malaysia Competition Commission (MyCC) has imposed a penalty of RM9.64 million on MyEG Commerce Sdn Bhd and MYEG Services Sdn Bhd for violating competition law and having a dominant position in relation to the sale of mandatory insurance for online applications of temporary employment permits for foreign workers (Pas Lawatan Kerja Sementara or PLKS).

  2. Both 1MDB-Tanore and SRC appeal trials involving former Prime Minister Datuk Seri Najib Abdul Razak have been postponed as a member of his defence team is under quarantine due to close contact with a number of Covid-19 positive patients. Is this delaying the inevitable?

  3. Galeri Petronas will shut its doors as of this month following a realignment of its operations model to adapt to the changes brought upon by the pandemic. The artworks from the Petronas Art Collection remain available for loan to relevant programmes and initiatives.

  4. Owners of high-end grocery chain Jaya Grocer is mulling an initial public offering (IPO) after the retailer failed to obtain the desired RM1.1 bil offer from either US-based Carlyle Group Inc or Luxembourg-based CVC Capital Partner according to The Edge. Not a bad idea considering last year’s Mr DIY’s mega IPO did so well rising approximately 140% since listing.

  5. Tan Sri Dr Lim Wee Chai had a two-hour exclusive interview from office to lunch table, candidly takes questions linked to himself and the company with The Star last week. Full interview transcript available here.

    > You have said you want to live until 120. Why 120?

    I control 34% of Top Glove. I cannot afford to die early. I need to live longer to contribute more and give back more to society.

    > What is the latest guidance on Top Glove’s financial results in the current quarter and in this financial year?

    We expect good quarters ahead as glove demand remains strong. Demand has been very robust following the emergence of Covid-19 in early 2020. And as mentioned in our outlook released after Q1 results, demand will continue to be strong.


  1. With growing regulatory scrutiny over Ant Group, Fidelity has written down its investment in the company to an implied valuation of USD144 bil from USD295 bil assigned to the firm in August, about 51% lower, according to its regulatory filings. It first invested about USD238 mil on behalf of various funds in Ant Group in Jun 2018 at a valuation of USD150 bil. Considering the current valuation it assigned now to Ant is USD144 bil, it isn’t too huge a loss relative to its entry price, which is down just by 4%.

    It was reported last month that Jack Ma is in talks to give up his stake in Ant Group, which could lessen regulatory scrutiny. Will Khazanah, which invested some USD650 mil in the same round as Fidelity follow suit to write down its investment in Ant too? 

  2. Verizon, the US telco giant, has announced that it will be selling its media assets, which includes Yahoo and AOL to PE firm, Apollo Global Management for USD5 bil. It will receive USD4.25 bil in cash and USD750 mil in preferred interests, and also retaining a 10% stake in the company.

    The new  company will be known as Yahoo. The media assets also include Engadget, Techcrunch, Yahoo Finance, Yahoo Mail, Yahoo portal homepage and AOL’s dial-up internet customer base. Verizon acquired AOL back in May 2015 for USD4.4 bil and Yahoo in July 2016 for USD4.83 bil. The sale at USD5 bil amounts to about a 50% overall loss. 

  3. Following StashAway’s USD25 mil fundraising round announced last week, Bibit, the Indonesian robo-advisor app announced its latest USD65 mil growth round led by Sequoia Capital India and including participation from Prosus Ventures, Tencent, Harvard Management Company and returning investors East Ventures and AC Ventures. This came just 4 months after it raised a USD30 mil growth round back in January, bringing its total funding to USD110 mil since inception in 2019.

    Bibit enables retail investors to easily invest in mutual funds based on their risk profiles, with 90% of its investors being millennials and first-time investors. Retail investor participation in the capital market in Indonesia is relatively low, with penetration of less than 1% of its country’s population of 265 mil compared to Singapore’s 26% and Malaysia’s 7.8%.

  4. During Berkshire Hathaway’s shareholder meeting, Warren Buffett has criticized Robinhood, the zero-commission trading app preferred by millennials, for promoting casino-like behaviour in the stock market. Buffett said Robinhood has “become a very significant part of the casino aspect, the casino group, that has joined into the stock market in the last year or year and a half.”

    Following this, Robinhood has not taken the words of The Oracle of Omaha lightly and fired back.

    "There is an old guard that doesn't want average Americans to have a seat at the Wall Street table so they will resort to insults," said the company in a statement Saturday that did not mention Buffett or Munger by name.

    "Adversaries of this future and of change are usually those who've enjoyed plentiful privileges in the past and who don't want these privileges disrupted," Robinhood added, saying that the "criticisms are unfortunate" and the "new generation of investors aren't a 'casino group.'"

    "people are tired of the Warren Buffetts and Charlie Mungers of the world acting like they are the only oracles of investing. And at Robinhood, we're not going to sit back while they disparage everyday people for taking control of their financial lives."

    - Robinhood


  1. How the name ‘Bluetooth’ came about.

    "The Danish king Harald Bluetooth in the 960s united Denmark and gained temporary control on Norway. Intel and Ericsson engineers chose to call their new technology “Bluetooth” because it brought computers and mobile phones together just as Harald unified Denmark and Norway."

  1. US Army released video of the battlefield seen through its newest ENVG-B (Enhanced Night Vision Goggle-Binoculars). Looks futuristic out of a movie.

    1. Tesla’s Q1 2021 financials visually represented