☕️ Pakatan Harapan x Government MoU - some stability to come?
Terror advisory issued by Japanese embassy routine, not a threat. FamilyMart Japan to open 1,000 unmanned stores. US military spent USD7 tril on for-profit defence contractors post-9/11.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
USD24.39 mil — the price of Yuga Labs’s 101 Bored Ape Yacht Club (BAYC) collection, auctioned by Sotheby’s. The non-fungible token (NFT) craze is real.
One in four people is looking to move house in the next 12 months, according to Knight Frank’s latest Global Buyer Survey.
RM58.33 mil was lost by Malaysians due to love scams in 2020, according to Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Zainuddin Yaacob. (Side note, he has since retired).
Follow these 3 pointers to prevent yourself from being a love scam victim! Then, check out our full guide here, where we break down the 5 red flags 🚩.
3. COVID-19 SUMMARY
Delta remains the dominant Covid-19 variant in Sarawak, according to Universiti Malaysia Sarawak (Unimas).
CINEMA OPENING DATES: GSC will open its doors on Sep 16 and TGV will open a week later on Sep 23.
Health Ministry changes how it reports the daily Covid-19 data. Two key points:
the daily cases and deaths will come later in the day via CovidNow website and;
More granular details about Covid-19 deaths are also available now, such as deaths based on the actual date vs confirmation date and vaccination status.
4. IN MALAYSIA 🇲🇾
Politics and Local
According to Bukit Aman Special Branch director Comm Datuk Zamri Yahya, the terrorism threat travel advisory released by the Japanese embassy to its citizens in Malaysia was a routine notice. He added there had not been any information on a possible terrorist threat in the country thus far.
History has been made as Pakatan Harapan (PH) and the government has signed the confidence and supply agreement called Memorandum of Understanding on Transformation and Political Stability.
Two allies of PH were apparently sidelined and only received their invites at the 11th hour — Warisan & Pejuang. Both parties are snubbing the MOU. Is Anwar afraid of Shafie Apdal or Tun Dr Mahathir becoming the leader of the opposition? Desperate to become a minister, although not prime.
Parti Pribumi Bersatu Malaysia (Bersatu) is trying to woo experienced UMNO leaders, according to Aziz Kaprawi. He added the two parties are competing for support from the same demographic and therefore, Bersatu can be expected to challenge Umno for the same seats. Take a guess where Bersatu’s chairman Tan Sri Muhyiddin Yassin, was from. 😉
WTF Statement of yesterday — by Datuk Seri Ahmad Zahid Hamidi’s lawyer, Hisyam Teh Poh Teik
Datuk Seri Dr Ahmad Zahid Hamidi should be immune from prosecution because he cooperated with the Malaysian Anti-Corruption Commission (MACC) when it investigated him.
Cooperation does not prove innocence.
Less than a week after Kuala Lumpur High Court’s ruling for overseas-born children of Malaysian moms and foreign fathers to get automatic citizenship, the Attorney-General's Chambers (AGC) went to file the notice of appeal to the Court of Appeal.
Analysts have contrasting views on Top Glove Corp Bhd despite the upliftment of import ban by the US Customs and Border Protection (CBP).
Kenanga Research said the import ban lift is good news as the US market accounts for 18% to 21% of Top Glove’s export sales. However, CGS-CIMB thinks the ban would not be sufficient to bolster the decline in average selling prices (ASPs) and increase in global supply. The share closed at RM3.28 in yesterday’s trading.
The rating and the target prices (TP) were attained with the help of the Stockbit team. Stockbit shares research reports of companies via their Telegram broadcast daily when they are available.
Scientex Bhd has proposed to acquire all the remaining shares and warrants of Daibochi Bhd at an offer price of RM2.70 per share and 32 sen per warrant and delist the Daibochi Bhd. The offer prices of RM2.70 per share and 32 sen for the warrants represents a premium of 12.97% and 60% over their last traded prices, respectively.
Bermaz Auto Bhd (BAuto) recorded a slight increase of 11% for its net profit for 1QFY22 ended July 31, 2021, to RM10.27 mil from RM9.25 mil a year earlier. Revenue dipped 28.5% to RM320.79 million during the quarter from RM448.89 million a year ago. BAuto has proposed a dividend of 0.5 sen per share.
The higher net profit was attributed to the lower share of loss from one of its associated companies — Mazda Malaysia Sdn Bhd — as well as higher profit contribution from the domestic operations that came on the back of the group’s cost-saving measures.
Employees Provident Fund (EPF) launched two new initiatives to ease employers’ cash flow management during the pandemic.
Exemption from late payment charges imposed on employers who fail to remit their EPF mandatory contributions by the 15th of every month.
Employer Pay Reduction Initiative (e-PaR) offers employers up to a 70% reduction in outstanding late payment charges imposed for any period before August 2021.
5. AROUND THE WORLD 🌎
Convenience store operator FamilyMart plans to open about 1,000 shops unstaffed by the end of fiscal 2024. Japan’s labour shortage is set to intensify as the population continues to decline. FamilyMart will use ceiling cameras equipped with AI, weight sensors on shelves to monitor products a customer picks up.
Opening such a store costs about 20% more, but labour costs are greatly reduced to receive and stock merchandise. A trial store 50 sq metres in size opened in Tokyo in July, about 30% the size of a regular outlet and has 50 cameras and roughly 750 items. FamilyMart has 16,000 stores in Japan and the chain opens 200-500 new outlets yearly. There are more than 50,000 convenience stores in Japan.
Blackstone’s USD3.3 bil takeover of Soho China Ltd founded by Chinese power couple Pan Shiyi and wife Zhang Xin, has been called off after an unexpectedly long regulatory review. Real-estate deals in China only require simple regulatory approval, lasting about a month, because such deals are unlikely to result in monopolistic market power. However, Blackstone’s deal regulatory review lasted a lot longer, suggesting a thorough review. Blackstone owns about 6 mil sq meters of properties in China or about 64.6 mil sq ft.
Forge Global, a marketplace for private shares that allows customers to trade shares of pre-IPO companies, is going public in a SPAC merger with Motiva Capital Corp. It expects to raise USD500 mil, valuing the company at USD2 bil.
Founded in 2014, the San Francisco-based company has almost 400,000 registered users and has handled USD10 bil of trades in shares of 400 companies including Lyft, Robinhood, and Palantir before they went public.
The US military has spent USD14 tril since the terrorist attacks on 9/11, with nearly USD7 tril of the total going to for-profit defence contractors according to a new study from Brown University’s Watson Institute for International & Public Affairs. US federal debt today stands at about USD26 tril. So about USD14 tril or 53% of this debt was taken to finance a ‘global war on terror’ of which USD7 tril went to a selected few providing tools to fight this war.
Airlines are piling up on more and more debt as the surging coronavirus cases continue to cripple the travel industry. The industry’s outstanding debt has jumped 23% since 2020 to USD340 bil. So far this year, global air carriers have sold USD63 bil in bonds and loans. Even during good times, the airlines saddled themselves with debt. How would they ever crawl back out from this debt pile?
Apple plans to spend USD500 mil on marketing its streaming service, Apple TV+ as the iPhone maker intends to significantly increase its output of new TV shows and movies to at least once a week in 2022, more than double its pace this year according to The Information.
6. FOR YOUR VIEWING PLEASURE 👁👁
How many Palestinians are imprisoned by Israel?
A falling cat saved by an American flag