☕️ PM Sabri's new, recycled cabinet: who's in, who's out

Intel report: M'sian politicians received foreign funding especially from US. Daikin offers aircon subscription service, to start in Africa. Suicide bombing outside Kabul airport killing >170 people.

1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

12,000 more people died of Covid-19 than was reported in New York, according to New York Governor Kathy Hochul — a total of 55,400 people died in NY from coronavirus. Former disgraced governor, Andrew Cuomo reported 43,400 on his last day in office.

1 million videos with Covid-19 misinformation has been removed by YouTube since February 2020, according to YouTube’s Chief Product Officer Neal Mahon.

Apple supplier Foxconn rushes to hire 200,000 more workers to prepare for the expected launch of iPhone 13 in September 2021. The world’s largest iPhone factory in Zhengzhou can house as many as 350,000 assembly line workers and produce up to 500,000 smartphones a day. If you’re looking to get an iPhone or Apple Watch, you may want to postpone that purchase as Apple is expected to release the iPhone and Apple Watch on September 24, 2021.


3. COVID-19 SUMMARY


4. IN MALAYSIA 🇲🇾

Politics and Local

  1. The 9th PM has finally revealed his cabinet lineup last Friday (Aug 27, 2021), to the disappointment of many Malaysians as the majority of the ministers in former PM Tan Sri Muhyiddin Yassin’s Kerajaan Gagal remained in the new cabinet. 60 ministers are brought from the previous administration and 21 ministers have changed portfolios, with only 9 new names in his cabinet of 69 ministers.

    The PM said all the ministries must show results within 100 days. They have been given 17 months before, why are we expecting things to be any different? No mentioning what happens if results are subpar. Disclose the benchmarks the ministries have to hit in the first 100 days so they can be held accountable. Otherwise, it will be a moving goal post.

    The deputy minister of higher education posted this not long after the announcement and misquoted Elizabeth Barrett Browing — ‘Light tomorrow with today’.

  2. Former defence director-general (Intelligence) Lt Jen (Rt) Datuk Mohd Salleh Ismail told Mingguan Malaysia that during his time in office, there were intelligence reports showing Malaysian politicians received foreign financial backing, especially from the US. However, no names were revealed in the news report.

  3. The communications and multimedia minister Tan Sri Annuar Musa is definitely scoring some early points as a song titled Keluarga Malaysia penned by him will debut on Merdeka Day. The song was created by the minister in response to the PM’s aspiration on the ‘Malaysian Family’ concept. Another song, Menang Bersama is the work of Radio Televisyen Malaysia (RTM) music director Mokhzani Ismail will also debut on the same day.

  4. Ipoh Barat MP M. Kulasegaran has urged the public prosecutor to charge the man who beat up an early security guard at an Ipoh condominium on Dec 29, 2020, with murder.

    The prosecutor has charged the suspect with an assault charge but the MP wants to push for a murder charge and fresh proceedings against the accused now as the victim has succumbed to death due to the injuries sustained. If you want to see a glimpse of the incident, SAYS.com shared screenshots (click here) on the footage — it contains NSFW content.

  5. Sarawak-born powerlifter Bonnie Bunyau Gustin delivered Malaysia’s first gold medal at the Tokyo Paralympics by shattering the Paralympic record at 228kg. Congratulations!

Business

  1. RAM Rating Services Bhd (RAM Ratings) maintains Malaysia’s 2021 GDP forecast at 3.8% and said the ramped-up vaccination rate in the country is expected to facilitate the reopening of most economic sectors in the 4th quarter, providing a healthy lift to growth.

  2. Petronas Nasional Bhd (Petronas) posted a net profit of RM9.6 bil for 2QFY21 ended June 30, 2021, a 3.3% improvement QoQ. The national firm declared an additional RM7 billion dividend to the government which brings the annual sum to RM25 billion for the financial year ending Dec 31, 2021 (FY21).

  3. The merger of Celcom Axiata Bhd and Digi.com Bhd now depends on the Malaysian Communications and Multimedia Commission (MCMC) according to Axiata Group Bhd as both parties have completed their side of the proposal. Axiata reported a 201% surge in net profit to RM227.76 million for 2QFY21 June 30, 2021, supported by better results across most of its geographical segments. The group declared an interim dividend of four sen per share.

  4. Deloitte PLT has recognised four companies, namely MR DIY Group (M) Bhd, Sunway Bhd, BIG Pharmacy Healthcare Sdn Bhd and MAMEE-Double Decker (M) Sdn Bhd as inaugural winners of its Malaysia’s Best Managed Companies awards programme. These companies were assessed for their organisational excellence, as well as contributions to their respective industries and the economy.


5. AROUND THE WORLD 🌎

  1. The death toll from the latest terrorist attacks outside Kabul’s international airport has risen to at least 170 with at least 200 people injured from the explosion that occurred on Thursday. 13 US service members were killed in the incident, which was carried out by a single suicide bomber associated with ISIS-K. ISIS-K, also called Islamic State Khorasan, has a hostile relationship with the Taliban. 

    In response to this attack, the US has deployed a Reaper drone and killed the ISIS-K planner behind the airport attack. President Joe Biden warned on Saturday that another terrorist attack at the Kabul airport is “highly likely in the next 24-36 hours”. 

  2. There’s Software-as-a-Service and now there is Air Cond-as-a-Service (AaaS). Japan’s Daikin has introduced an air conditioning “subscription” service in Africa and only charges users on the day they use it through a smartphone app. Tanzania will be the first African country to receive this new service. Users pay an installation fee of around USD77 and roughly USD1.40 for a day’s use. 

    This marks a shift of its business model from one that is primarily focused on manufacturing and selling devices to a recurring model. The plan is to install 50,000 devices in its first step. Daikin has collaborated with Tokyo-based startup Wassha for fee collection.

    Wassha rents out LED lanterns to people off-grid in East Africa communities and already has an established payment system there. As innovative as Daikin seems to be, this venture is a defensive reaction towards another energy giant that has expressed its interest to venture into the air conditioning game - Tesla. 

  3. Parents and parents-to-be, do take note of this. 

    According to a learning science expert, the existing model of remote learning is inefficient for learning, teaching and productivity, especially for children. Sitting in front of a computer subdues and detaches people from many of the sense-making abilities of their bodies. 

    Embodied cognition - the study of the body’s role in thinking - shows that the body must first be interacting with the world to activate and open up the mind for learning. That’s why students working with a variety of tools and materials during learning activities are better able to grasp abstract concepts.

    In fact, asking students to sit still while performing their work actually increases cognitive load, or burden on the mind, as it requires them to concentrate on quieting the bodies. 

    News in Brief:

  4. Tesla has filed an application with the Public Utility Commission of Texas to sell electricity directly to customers in the state. 

  5. China’s regulatory crackdown on tech companies continues - it will be proposing new regulations that will block companies with large amounts of sensitive consumer data from floating shares in the US

  6. The pandemic and partly with the UK leaving the EU has led to a massive truck driver shortage with an estimated 100,000 truck drivers short in the market. This has caused supply chain issues such as McDonald’s pulling out milkshakes from its menu across the UK and Nando’s temporarily closing 50 stores because it couldn't get hold of its main ingredient, peri-peri chicken. 

  7. Walt Disney’s ESPN is looking to license its brand for USD3 bil over the course of several years to the booming sports betting industry. It has been reluctant to enter this space as it does not want to risk the company having directly involved in gambling transactions. Through this licensing initiative, it will allow the company to ride the boom in the sports betting industry without being directly related. Not entirely sure if this logic holds - how is it not directly related when its brand is being used to promote the industry? 


6. FOR YOUR VIEWING PLEASURE 👁👁

  1. The number of fatalities (‘000) of Islamist terrorist attacks by terror group, region and country.

  2. An injured cow was airlifted by helicopter in the Swiss Alpine meadows down the mountains.

  3. To this kind of men, show respect to women. It’s their right how they want to dress.