☕️ Oxfam: More deaths from hunger than Covid-19

Azmin Ali apparently brought his family on holiday. India's Flipkart raised USD3.6 bil@USD37.6 bil valuation-Khazanah invested. Zoundream-software to identify the meaning of babies' cries.

1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

155 mil people around the world live at crisis levels of food insecurity according to Oxfam’s report, “The Hunger Virus Multiplies.” In the report, it is said the death toll from famine outpaces that of Covid-19 — 11 people die of hunger every minute compared to seven deaths per minute from Covid-19.

11 mil illegal cigarette sticks were seized by the Customs Department after sniffing out a suspicious contained at West Port Klang. The cigarettes had about RM7.3 mil in unpaid duties, according to Central Zone Customs principal assistant director Datuk Zazuli Johan.

RM124 million — the price of bungalow sponsored by Grab drivers. Grab CEO Anthony Tan’s family had recently acquired a 21,637 sq ft property in Singapore.


3. COVID-19 SUMMARY

  • Factory workers in Selangor’s EMCO districts must be tested for Covid-19 via the Antigen Rapid Test Kit (RTK-Ag) twice a week according to the Ministry of International Trade and Industry (MITI).

  • Sarawak will enter Phase 2 of the National Recovery Plan (NRP) beginning July 14, 2021, according to DPM Ismail Sabri Yaakob.

  • 509 private general medical practitioners have been approved to issue home surveillance and observation (HSO) orders to Covid-19 patients. HSO would be issued to positive patients who would then be treated at the Covid-19 Quarantine and Low-Risk Treatment Centre (PKRC) managed by a private medical centre or at their respective homes

  • All telecommunication companies’ service centre outlets in malls and large supermarkets will be allowed to operate throughout the NRP from today onwards.


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4. IN MALAYSIA 🇲🇾

  1. Shopee Malaysia’s Go-eCommerce Onboarding programme is offering 60,000 local micro, small and medium enterprises (MSMEs) benefits of up to RM3,000. The initiative is in partnership with the Ministry of Finance and the Malaysia Digital Economy Corporation (MDEC).

    On another note, eligible MSMEs should begin receiving the additional RM500 aid under Prihatin Special Grant 3.0 (GKP 3.0) announced via Pemerkasa Plus package beginning yesterday. The disbursement will be in phases as clarified with MoF.

  2. The Prime Minister's Office has released a statement confirming Tan Sri Mohd Bakke Salleh’s (pictured below) appointment as the chairman of Petroliam Nasional Berhad (Petronas) effective August 1, 2021, replacing Tan Sri Ahmad Nizam Salleh. Meanwhile, Ahmad Nizam will begin his chairmanship at Pelaburan Hartanah Berhad (PHB) beginning the same date as well.

  3. Malaysia Aviation Group (MAG) launched an integrated one-stop travel and lifestyle digital platform named Journify which is part of the group’s transformation journey towards becoming Asia's leading travel and aviation service group.

    Journify is aimed at offering consumers a highly personalised travel experience through the Journify2U service, allowing customers departing from the Kuala Lumpur International Airport to get the products that they purchased on the Journify app to be delivered to them at the boarding lounge.

News in brief:

  1. UMNO’s secretary-general, Datuk Seri Ahmad Maslan has explained that 50 out of 56 supreme council members had signed a form to agree with the withdrawal of support for Muhyiddin before the Umno supreme council meeting last Wednesday.

  2. Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz responded vaguely to Bloomberg TV’s question of the government’s forecast of GDP growth for 2021 — “around the range (4%) you mentioned.”

  3. Building contractor of residential and non-residential buildings, Haily Group Bhd’s public portion of its initial public offering has been oversubscribed by 38.81 times. Haily’s listing on the ACE Market is scheduled for July 21, 2021.

  4. FT Minister Tan Sri Annuar Musa was fined RM2,000 for violating the SOP for his weekend luncheon with former prime minister Tun Abdullah Badawi. Chum change for him.


5. AROUND THE WORLD 🌎

  1. Indian e-commerce giant, Flipkart, raised USD3.6 bil at a valuation of USD37.6 bil, which is said to be its pre-IPO round. The new round of funding, by far the largest for any Indian startup, was led by GIC (Singapore sovereign wealth fund), Canada Pension Plan Investment Board, SoftBank Vision Fund 2 and Walmart. Malaysia SWF Khazanah participated in this round as well. This investment marks the return of SoftBank as an investor after it sold its stake to Walmart in 2018. 

    The Bangalore-headquartered firm competes with Amazon in India, which has invested over USD6.5 bil in this South Asian market and also JioMart, a JV between Reliance Retail (India’s largest retail chain owned by Asia’s richest man, Mukesh Ambani), Google and Facebook. Flipkart says it has 350 mil registered users across its services in the country with its supply chain arm, Ekart employing more than 100,000 people to fulfil deliveries. 

  2. Zoundream, founded by Ana Laguna after she had her second child, develops software that is able to translate newborn babies’ cries, particularly from those up to age of 6 months old. It has raised USD1 mil in Oct 2020 and will be using its recorded data of babies crying to detect atypical developments in newsborns at early stage. 

    The company is able to translate babies’ cries into 5 types: hunger, sleep, pain, gas and attachment or the desire to be held. One interesting application of its software is the detection of autism - a child’s cry on the austistic spectrum is “very characteristic, very hoarse”. This helps to improve early diagnosis possibilities and greatly improve quality of life. 

  3. India’s most populous state, Uttar Pradesh with a population of 240 mil people, has proposed a 2-child policy, where couples with more than 2 children would not be allowed to receive government benefits, subsidies and would be barred from applying for state government jobs, citing “limited ecological and economic resources at hand”. If Uttar Pradesh was a country, it would be the fifth most populous nation in the world. 

    News in Brief:

  4. Klarna, the USD45 bil Swedish ‘buy now, pay later’ fintech giant will acquire London-based HERO, a service that connects online shoppers with retail workers via text messages, videos and online chat rooms for USD160 mil. 

  5. Meituan, China’s on-demand delivery giant with 570 mil users, has relaunched its ride-hailing app, which it shut down in 2019, capitalising on Didi Chuxing’s app absence on the app stores after Chinese authorities removed it over cybersecurity investigation.

  6. Japanese bicycle parts maker Shimano is investing JPY20 bil (USD179 mil) to build a new plant in Singapore as demand for bicycle parts surges and to replace its existing plant that was built in 1973. Shimano is listed on the Tokyo Stock Exchange with a market cap of USD24 bil.

  7. Taiwan’s TSMC and Foxconn had reached a deal to purchase 10 mil doses of Germany’s BioNTech’s Covid-19 vaccine for a total cost of USD350 mil, on behalf of the Taiwanese government after it faced public pressure on the slow pace of Taiwan’s vaccination programme.


6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)

  1. Azmin Ali and his family went for a nice holiday in Turkey.

  2. Already home to the world’s tallest skyscraper and the world’s largest mall, Dubai has set another record with the opening of the world’s deepest dive pool of 60m depth.

  3. The effect of gravity on different planets and moons in the Solar System.