☕️ Only in Bolehland - fail your current job, throw an ultimatum and get promoted to a higher rank!

AirAsia Digital acquired Gojek Thailand for USD50 mil. 580k or 49% of micro SMEs at risk of failing by October. Singapore's CPF has more assets despite smaller population vs Malaysia's EPF.



438,376 food baskets have been given out as of July 7, 2021, as part of the Food Basket Programme involving RM80 million for the distribution of RM300,000 for each Member of Parliament.

3,100 — the number of psychiatrists required in Malaysia to manage mental health issues. The ratio is based on World Health Organisation (WHO)’s one psychiatrist to 10,000 people. Malaysia only has approximately 449 trained psychiatric professionals in total, 268 in government health facilities and 181 in universities and the private healthcare sector.

Malaysia’s ratio is at a staggering low, 14 professionals to 1,000,000 people.

USD177,777 — the price paid for a non-fungible token (NFT) representing the moment Andy Murray won Wimbledon in 2013. Watch the moment here or from the video below.


  • EU Delegation to Malaysia has clarified AstraZeneca Covid-19 vaccines used in Malaysia are valid for travel approval to European Union countries. EU member states could also allow entry for people vaccinated with vaccines that have completed the WHO Emergency Use Listing process. However, a more pertinent issue is whether Malaysians will survive to see the day we can cross state borders.

  • Dr Noor Hisham warns Malaysia’s healthcare system at high risk of paralysis with Covid-19 cases exceeding hospital capacities KL, Selangor, Negri Sembilan, and Labuan.

  • MITI has allowed several more sectors to operate in the EMCO areas in Selangor — electrical & electronics (E&E) sector and its supply chains; aerospace sector; machinery and equipment (M&E) sector for the production of healthcare and food products; as well as key food and beverage manufacturing companies.

  • The situation in Tengku Ampuan Rahimah Hospital (HTAR) Klang is dire as the hospital sets up canvas beds outside of the emergency department. Malaysiakini was told that more than 150 Covid-19 patients were waiting for beds in the Emergency Department.


  1. “Individu dari Sabah tidak perlu jalani kuarantin 14 hari..” - Ismail Sabri, September 2020.

    Only in the Malaysian government, one can get promoted for messing up big time. Prime minister Tan Sri Muhyiddin Yassin promoted two UMNO politicians to maintain his stronghold. Ismail Sabri has been promoted as DPM while Hishammuddin is now a senior minister in charge of the Security Cluster. If Nazri Aziz was in town instead of France, he probably would have been promoted too. How does the PN’s Cabinet look like now?

  2. Following UMNO’s Supreme Council meeting last night, Datuk Seri Ahmad Zahid Hamidi said the UMNO has officially decided to withdraw support from the Perikatan Nasional government immediately and asks for PM to step down.

    The supreme council asserted it will not support Datuk Seri Anwar Ibrahim as a prime minister or Pakatan Harapan or DAP to lead a government.

  3. Tan Sri Muhyiddin Yassin has announced during the virtual launch of the 2021 FELDA Settlers Day today the government has agreed to dispose of part of the Federal Land Development Authority (Felda) settlers loan worth RM8.3 bil under a conditional loan adjustment initiative. As a result, Muhyiddin said the burden of loans paid by each settler will be reduced by an average of 80%.

    During the virtual launch, he also expressed hope FELDA would be ranked among the most successful global corporations in the future such as those on the Fortune Global 500 list.

  4. AirAsia Digital has acquired Gojek’s operations in Thailand via an all-share deal worth USD50 mil. Gojek gets a 4.76% stake in AirAsia Digital in the deal, valuing the latter at USD1 bil. The acquisition is aimed at supercharging AirAsia Group Bhd’s ambitions in the Thai market. The group also plans to launch its super app in early August. AirAsia Digital will be the group’s long-term strategy, leveraging the strong ecosystem of fintech and logistics that the unit has built through its apps Teleport and BigPay.

    Group Chief Executive Tony Fernandes also stated that the group is considering listing its digital arm via a special-purpose acquisition company (SPAC) in the United States to raise at least USD300 mil.

  5. Ministry of Entrepreneur Development and Cooperatives (MEDAC) has warned the micro SME sector could collapse should the current nationwide lockdown continue indefinitely. This could have a huge impact on the economy as the sector contributes close to 40% of Malaysia’s GDP.

    A survey conducted by the ministry estimates 580,000 businesses (49% of the micro SME sector) are at risk of failing by October if they are still not allowed to resume operations by then.

  6. Kenanga Investment Bank Research foresees heightened market risk in the second half of 2021 (2H21) due to a few factors — weak fiscal balance sheet, prolonged lockdowns, political risk, and impasse of Budget 2022. The research house also lowered its KLCI target to 1,575 points from 1,711 previously.

News in brief:

  1. Senheng New Retail Bhd has filed a draft prospectus for an initial public offering (IPO) on the Main Market involving the sale of 250 million new shares, according to the group’s draft IPO prospectus posted on the Securities Commission Malaysia’s website.

  2. Filings with the stock exchange today showed that Serba Dinamik Holdings Bhd had appointed the former head of corporate risk management at Bursa Malaysia, Siti Zaleha Sulaiman and former Special Branch police officer, Datuk Seri Mohamed Farid Abu Hassan appointed as independent and non-executive directors.


  1. Wise (fka TransferWise), the money transfer service startup founded in 2010 by Estonian friends Kristo Kaarmann and Taavet Hinrikus went public on Wednesday on the London Stock Exchange, valuing it at USD11 bil. This makes Kaarmann and Hinrikus (paper) billionaires with their stake worth USD2.1 bil and USD1.2 bil each respectively.

    Here are the other big winners:

    1. Peter Thiel’s Valar Ventures is Wise’s largest external shareholder with a 10.2% stake @ USD1.1 bil.

    2. IA Ventures, with 9.6% stake @ >USD1 bil.

    3. Andressen Horowitz, with 9.3% stake @ USD1 bil.

    4. Baillie Gifford, the revered Scottish investment management firm, with a 4.9% stake @ USD536 mil.

  2. A gluten-free diet is for people who have celiac disease with difficulty digesting gluten found in grains like wheat. “Gluten-free” has gone mainstream and no longer a niche diet, with nearly a quarter of Americans who bake frequently bought gluten-free bread. Siete Family Foods Inc, founded in 2014 by a brother and sister team, Miguel and Veronica Garza, has built this budding food empire selling premium, gluten-free Mexican food.

    It generated USD150 mil revenue in 2020 and expects to increase by 30% this year. It has raised USD90 mil in 2 rounds from Stripes Group, which also invested in GrubHub and Blue Apron, with an aspiration to be billion-dollar brand. It is now available in 16,000 locations across the US and recently expanded to Canada. 

  3. Due to Beijing restrictions on foreign investments in sensitive sectors, including the internet industry, listing abroad is limited and difficult. When a Chinese company list in the US, the investors do not own the company directly. Instead, the ownership is via a structure known as Variable Interest Entity (VIE), where the Chinese firm transfers profit to an offshore entity registered in places like Cayman Islands and British Virgin Islands, where the investors own shares in this offshore entity. 

    This structure was pioneered by Sina Corp in its 2000 IPO and virtually every major Chinese internet company has used this structure. However, the VIE structure has never been formally endorsed by Beijing and Beijing is planning to impose rule changes on overseas listing that have been in effect in 1994 and close this loophole that allows these firms to sidestep this restriction. With the change, firms would need Beijing’s approval prior its listing abroad. Over the past decade, Chinese firms have raised USD76 bil through first-time share sales in the US, making it a lucrative business for US banks with 37 companies listing in the US this year alone raising USD12.9 bil. 

    News in Brief:

  4. The Ever Given shipping vessel that caused a blockage in the Suez Canal and causing a global supply disruption is finally being released by the Suez Canal Authority (SCA) 106 days after the incident as the SCA and the ship’s owner Shoei Kisen has agreed on an undisclosed settlement amount. 

  5. The president of Haiti, Jovenel Moise, was assassinated, shot dead in his private residence by unidentified attackers. A state of emergency is being declared amid confusion over who would take over the country. Haiti has a population of about 11 mil people and amongst the poorest nation in the western hemisphere. 

  6. The Central Provident Fund, Singapore’s equivalent of Malaysia’s EPF, saw its members’ balances reached SGD462.1 bil (RM1.42 tril) with 4.1 mil members. EPF’s assets stood at RM998 bil at the end of 2020 with 14.89 mil members. Quite a huge disparity in both nations’ retirement funds, especially when Singapore’s population is significantly smaller than Malaysia.


  1. Watch how food travels in a dog

  2. Lumos, a Kickstarter project by a Malaysian based company that is the first helmet of any kind to be sold in over 300 Apple Stores worldwide and was named Oprah’s Favourite Things as well as TIME Magazine’s Best Inventions of 2018.

  3. Azmin Ali effective 7 July 2021.