☕️ PM's PEMULIH relief package - what you will be getting

A RM135 million island in Labuan up for sale. Carousell is seeking a listing via a SPAC merger in the US. Indian's crypto investment shot up 200x from USD200 mil to USD40 bil.

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Johnson & Johnson has agreed to pay up to USD230 mil to settle claims it helped drive a deadly opioid epidemic. By settling the case brought upon by Attorney General Letitia James in 2019, J&J has removed itself from a trial that is utterly unprecedented in terms of its scope — trial by jury.

RM3.44 bil — Malaysia’s automotive industry expected loss in revenue in June 2021 due to the complete slump in sales this month.

305 days — a 72-year-old man in the UK had Covid-19 for more than 10 months with the wife having arranged his funeral five times. Dave Smith was successfully treated with laboratory engineered antibodies.

USD70 mil — the amount Fast & Furious 9 has made during the opening weekend in the US and Canada, making it the most successful film to be released since the Covid-19 pandemic began.


  • 669,846 workers from 4,537 companies across Malaysia have registered under the Public-Private Partnership Covid-19 Industry Immunisation Programme (PIKAS) as of June 27, 2021.

  • Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said only about 5% to 10% of the total number of Covid-19 positive cases are from the manufacturing sector. He said the blame should not be put on the manufacturing sector.

  • The Malaysian government will consider allowing companies to resume full operations if workers have been fully vaccinated against Covid-19.

  • AstraZeneca said yesterday it is on schedule to meet its commitments for supplying coronavirus vaccines in Southeast Asia.


  1. Prime Minister Tan Sri Muhyiddin Yassin had announced RM150 bil aid package (with RM10 bil fiscal injection) dubbed PEMULIH — Pakej Perlindungan Rakyat dan Pemulihan Ekonomi. Here are some highlights:

    • Govt to allow withdrawal of RM1,000 per month for five months under EPF's i-Citra.

    • Six-month moratorium for all individual borrowers and micro-entrepreneurs — no documentation needed as all applications will be automatically approved.

    • B40, M40, Micro SMEs, people who have lost their jobs, sports facilities’ operators, the disabled, indigenous people, travel agencies, people in the creative arts sector, and nursery operators will receive cash handouts.

    • No more RM4,000 limit for the salary subsidy programme. Salary subsidy of RM600 per worker for four months to be provided, up to 500 workers per employer.

    • Each Member of Parliament (MP) will be given RM300k for food basket assistance to help affected groups in their own constituencies.

    • RM400 mil will be allocated to increase the national vaccine supply to cover 130% of the population, from 120% previously.

    • An electricity bill discount of between 5-40% for domestic users.

    • One gigabyte of free data daily will be extended until Dec 31, 2021.

  2. Three research houses have lowered the target price for MyNews Holdings Bhd following its announcement of a net loss of RM10.32 million for 2QFY21 ended April 30, 2021 — the group’s largest quarterly loss since its listing in 2016.

    CGS-CIMB Research has lowered MyNews’s target price for the stock to 91 sen from RM1, RHB Investment Bank Research (RHB Research) reduced to RM1.20 from RM1.25 and Kenanga Research followed suit, reduced to 95 sen from RM1. MyNews closed at 86 sen yesterday.

  3. Dewan Rakyat Speaker Azhar Azizan Harun and Senate President Rais Yatim have proposed that a hybrid Parliament session be held in late August or the first week of September at the latest.

    A special sitting will be required to be held in early August in order to make the necessary amendments to the Standing Orders for the commencement of a hybrid Parliament. What part of “as soon as possible” do our lawmakers not understand?

  4. Axiata Digital’s fintech holding arm, Boost Holdings Sdn Bhd through its subsidiary Axiata Digital Capital Sdn Bhd (Aspirasi) is getting ahead of its competitors by inking a memorandum of understanding (MOU) to collaborate with Credit Guarantee Corp Malaysia Bhd (CGC) for a potential digital bank guarantee.

    The partnership will benefit SMEs as it will accelerate financial inclusion for the underserved and unserved segments. CGC will onboard Aspirasi onto its imSME, an online one-stop platform that provides an array of financing products and services for MSMEs.

    News in brief:

  5. Malayan Banking Bhd’s (Maybank) chief financial officer (CFO) Datuk Amirul Feisal Wan Zahir (pictured below) has tendered his resignation from the group. The Edge said its sources mentioned Amirul will take over from Datuk Shahril Ridza Ridzuan as the CEO of Khazanah Nasional Bhd.

  6. Bursa Malaysia orders Serba Dinamik Holdings Bhd to appoint an accounting firm by Friday (July 2, 2021) to commence a special independent review to address the concerns raised by its former external auditor KPMG. Ernst & Young Consulting Sdn Bhd (EY) has accepted its appointment as Serba Dinamik Holdings Bhd's independent reviewer.


  1. Carousell, the Singapore-based online classifieds marketplace, is considering a US listing via a merger with a blank-check company in a transaction that will value it as much as USD1.5 bil. Carousell is joining a growing list of companies in Southeast Asia looking to list in the US via SPAC mergers like Malaysia’s online-used car platform, Carsome, Indonesia’s Tiket.com and Singapore’s PropertyGuru and Grab. Founded in 2012, Carousell is backed by big-name investors like Rakuten Ventures, Sequoia Capital India, and Naver and it operates several online marketplaces including Carousell, Chotot.com in Vietnam, Mudah in Malaysia and OneKyat in Myanmar. 

  2. On the heels of Etsy’s USD1.6 bil acquisition of Depop, the arts and craft online marketplace has announced another significant deal to expand its reach in Latin America. Etsy announced that it will acquire Elo7, commonly referred to as the “Etsy of Brazil” for USD217 mil. Etsy was already active in Brazil and this acquisition will consolidate its lead in the market. Elo7 is one of the 10 biggest e-commerce sites in the region with 1.9 mil active buyers, 56,000 active sellers and 8 mil items for sale. 

  3. India, a nation obsessed with gold where households own more than 25,000 tonnes of gold, has seen investments in crypto grow from USD200 mil to nearly USD40 bil in the past year - up 200x, despite growing regulatory uncertainty towards this asset class. It is estimated that more than 15 mil Indians are invested in crypto, with the growth coming from those between 18-35 years old. The World Gold Council data indicated that Indian adults aged 34 have less appetite for gold than the older generation. 

    Meanwhile, in Mexico, its 3rd-richest man Ricardo Salinas Pliego with an estimated wealth of USD15.9 bil according to Forbes strongly advocates the use of Bitcoin and that his bank, Banco Azteca is working on becoming the first in the country to accept Bitcoin. He revealed that 10% of his liquid asset is invested in Bitcoin. 

    “The fraud fiat is inherent in the fiat system and we can see it today in the USA. The monetary emission went to the moon, you understand, the Dollar as hard money is a joke.” - Ricardo Salinas Pliego

    News in Brief:

  4. Kakao Bank, the internet-only lender backed by Kakao Corp, the parent of the messaging app Kakao Talk that has 46 mil active users out of a population of 51 mil people in South Korea, is planning an IPO to raise USD2.3 bil, valuing it at more than USD16 bil at the top end of the range and making it the 3rd most valuable lender in South Korea after KB Financial Group and Shinhan Financial Group Co. 

  5. The Hershey’s corporate jet recently flew to hometown Omaha, leading to rumours that the candymaker’s bosses may have visited the Berkshire Hathaway CEO for a potential sale. Hershey’s market capitalisation is about USD36 bil, within Buffett’s price range of an “elephant-sized acquisition

  6. The Monetary Authority of Singapore is joining forces with several supranational organisations like the World Bank, IMF, the UN, Asian Development Bank and the OECD to launch a global challenge for the design of central bank digital currency (CBDC) solutions to enhance payment efficiencies and promote financial conclusion. Up to 3 winners will be selected to receive an award of SGD50,000 each. The deadline for submission is July 23 and contestants will have to address the 12 problem statements.


  1. A declawed and defanged pet lion was confiscated by Cambodian authorities from a wealthy Chinese businessman after a video of the lion surfaced on TikTok.

  2. Pulau Daat, a 237.5 hectare island in Labuan up for sale for RM135 mil.

  3. Current state of PN leaders and Rakyat