☕️ PM Muhyiddin's RM20 billion PERMEKASA economic recovery programme announced

Pinduoduo overtook Alibaba to be China's largest e-commerce company. The first major US bank to offer access to Bitcoin funds. President Biden agrees that Russian President Putin is a 'killer'.

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91.9% of iPhone owners would buy an iPhone for their next upgrade as Apple’s brand loyalty hits all time high.

145 Malaysia-listed companies were held by Norway’s Government Pension Fund Global as at Dec 31, 2020. There are 932 public listed companies as at July 2020 in Bursa Malaysia - meaning the Norwegians have some ownership in 15.5% of the listed companies. The fund is also the world’s largest sovereign wealth fund, with market value of RM5.48 trillion.

42,784 — vehicles were sold in Malaysia in February 2021.



  1. Health DG Tan Sri Dr Noor Hisham Abdullah said delays in getting the second dose of Pfizer vaccine may slow optimum antibody build-up. The second dose of the vaccine which is administered after 21 days gap from the first dose, provides 94.6% efficacy in preventing Covid-19 (SARS CoV2) infections so remember to take your second dose.

  2. PM Tan Sri Muhyiddin Yassin has announced a new economic recovery programme dubbed PERMEKASA (Strategic Programmes to Empower the People and Economy) worth RM20 billion. PERMEKASA consists of 20 initiatives and RM11 billion of fiscal injection will be provided for the scheme, click here for more details.

    As part of the package, the budget for National Immunisation Programme has also been raised to RM5 bil (from RM3 bil).

  3. AirAsia Group Bhd and Sabah Development Bank have (SDB) been cleared by Malaysia Anti Corruption Commission (MACC) of any wrongdoing over expedited RM300 million loan approval granted by SDB to AirAsia.

    AirAsia has completed its second tranche of share placement of 100 million new shares at an issue price of 86.5 sen each.

  4. Wah Seong Corp Bhd has bagged a contract worth USD35.95 million (RM147.81 million) for modules fabrication works on a project in the UK via its wholly owned subsidiary WS Engineering & Fabrication Pte Ltd. The job is estimated to be completed within 18 months.

  5. The government has finally heard the voices of the Rakyat! If you settle your MCO violation fine within 7 days and 14 days, you’ll be given 50% and 25% discount respectively. The SOP violation and its respective compounds have been broken down to to three categories as below:


  1. eToro, the social trading platform has confirmed that it will be going public on Nasdaq through a merger with FinTech Acquisition Corp V, a SPAC/’blank check’ company that would value the merged entity at USD10.4 bil. The existing shareholders of eToro will own about 91% upon listing. 

    eToro recorded revenue of USD605 mil last year, a growth of +147% from the previous year with more than 20 mil registered users, adding over more than 5 mil new users in 2020

  2. Vitol Group, the world’s largest independent oil trader, rode out 2020 well which has been a tumultuous year for the oil industry with a record profits of around USD3 bil. It made most of its profits in the 2nd quarter, when oil demand collapsed, allowing it to buy cheap crude oil, store it while locking in profit by selling forward the oil on the futures market at higher prices. 

    Each day, Vitol moves 8 millions barrels of crude and petroleum products - enough to meet the demand of Germany, France, Italy, Spain and the UK combined. Trafigura Group, the second largest independent oil trader by volume similarly achieved a record profit of USD1.6 bil in 2020. 

  3. President Joe Biden agreed that Russian President Vladimir Putin is a ‘killer’, and said in an interview with ABC News on Wednesday that Russia will pay for its alleged interference in the US elections. Biden’s comments came on the same day as a US intelligence community reported that Putin has deployed influence operations to hurt Biden’s candidacy, in favour of Trump. Watch the interview here

  4. Pinduoduo for the first time overtook Alibaba in annual active users to be China’s largest e-commerce company. Pinduoduo started by focusing on lower tier cities in China and leveraging on group-buying power and removing intermediaries to offer its users better prices.

    Pinduoduo recorded 788 mil annual active users in 2020 compared to Alibaba’s 779 mil. Despite this, Alibaba is still larger in terms of revenue by at least 8x with revenue of RMB221 bil (USD33.88 bil) in its latest quarter ending December vs Pinduoduo of RMB26.55 bil. However, in terms of monthly active users (MAU) in December, Alibaba is comfortably ahead with 902 mil MAU vs Pinduoduo’s MAU of 720 mil. Room for growth for both companies is still significant as China has 989 mil internet users in 2020. 

  5. Morgan Stanley becomes the first major US bank to offer its wealth management clients access to Bitcoin funds. With USD4 tril in client assets, the investment bank told its financial advisors in an internal memo that it will be launching access to 3 funds that enable ownership of Bitcoin. However, the access is limited to wealthier clients with ‘an aggressive risk tolerance’ and at least USD2 mil asset with the firm.

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