☕️ Power of Youth - MUDA raised RM1mil within 100 hours for flood victims
Parliament speaker disallowed debate on flood situation as it's not on the agenda. T'nG and SmarTAG - phased out end-2023. Malaysian-born Loh Kean Yew became 1st Singaporean to win BWF championship.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
“Spider-Man: No Way Home” found USD253 mil on its way home in the US, shattering box office records last weekend. It is the third-best opening of all time. The global haul was USD587.2 mil over its weekend debut!
Bruce Springsteen sold the master recordings and publishing rights for his life's work to Sony for a reported USD500 mil, according to Billboard. Billboard estimates that Springsteen’s work generated approximately USD15 mil in revenue last year. The price paid by Sony is slightly higher than the industry of 30-time multiple.
Elon Musk will pay over USD11 bil in taxes this year, according to his tweet. Only a tiny 4.5% dent to his networth.
3. COVID-19 SUMMARY
Moderna Inc said a booster dose of its Covid-19 vaccine appeared to be protective against the fast-spreading Omicron variant in laboratory testing.
4. IN MALAYSIA 🇲🇾
Politics & Local
Dewan Rakyat speaker Azhar Harun did not allow MPs to debate on the flood situation, causing an uproar, as there was only 1 item on the agenda which is on the debate of the Prevention and Control of Infectious Diseases Act.
Fahmi Fadzil, MP of Lembah Pantai, pointed out that as the Speaker of the House, Azhar possessed the discretion to allow an eleventh-hour debate that affects the public, especially matters concerning natural disasters. No urgency, it seems to the speaker, although the nation is undergoing disaster, as no power struggle is in play, unlike back in Aug 2021.
In less than 100 hours, Malaysian United Democratic Alliance (MUDA) announced that it has collected RM1 mil in donations to assist roughly 10,000 families affected by the floods. MUDA president, Syed Saddiq, said that all contributions will be used 100% for flood victims, and it will be audited to ensure transparency (I like this).
The youths are doing much better work saving the country than the old farts playing ‘flood tourists’.
Syed Saddiq @SyedSaddiq🚨UPDATE 10.26am: RM902,797.00! Setiap ringgit & sen HANYA untuk tujuan misi banjir seluruh negara. AUDIT akan dibuat & dikongsi kepada semua. Bantu sini: https://t.co/pcvWj3uA2u Please RT & SHARE. https://t.co/DEWXelpkXz https://t.co/ohMn3mnlzj
The Works Ministry is targeting 60% usage of Radio Frequency Identification (RFID) technology for toll payments by end of 2022 and aims to stop the use of Touch’n Go and SmarTAG cards by end of 2023. A RFID lane is able to clear 1,000 vehicles per hour versus TNG of only 550 vehicles per hour, helping to reduce congestion. A RM10 discount will be given for RFID device purchased through e-wallets.
A new political party, Parti Bangsa Malaysia (PBM) will be launched on Tuesday, 21 Dec, which is aligned with PM Sabri. Several MPs and assemblypersons, including Julau MP Larry Sng and Tebrau MP Steven Choong will join the new party. The event will take place in Wyndham Acmar Hotel, Klang, today. Is their PR team thinking it is the appropriate venue and time to launch a political party?
The Meteorological Department is warning people in Northern Peninsular states to be on alert as the storm heads north, but is unlikely to develop into a tropical depression.
Flexible packaging materials provider Tomypak Holdings Bhd fell 20 sen or 40% to 30 sen after the company announced that a fire had broken out at its factory warehouse in Johor over the weekend. The company reiterated that its wholly-owned subsidiary, Tomypak Flexible Packaging Sdn Bhd, is adequately insured with coverage up to RM271 mil for property damage and stock in trade and RM80 mil for business interruption of up to 24 months. Its stock price rebounded to 36 sen, ending the day with a market cap of RM155.2 mil.
YTL Power International Bhd has completed the acquisition of Dodid Pte Ltd, the owner of a 12.5 megawatt (MW) tier-3 data centre in Singapore, marking its first foray into the growing data centre industry outside Malaysia and first step towards establishing a regional data centre platform in Southeast Asia. Deal size was undisclosed.
This strategic initiative which is done through its digital infrastructure subsidiary, YTL Data Centre Holdings Pte Ltd, is working on a pipeline of projects to roll out 300 MW of green data centre capacity regionally by 2030.YTL Power market cap stands at RM5.01 bil.
Bursa Malaysia Securities will be the sole approving authority for ACE Market initial public offerings (IPO) effective 1 Jan 2022. The exchange will become a one-stop centre for all ACE Market IPO approvals, making the listing process seamless without compromising investor protection.
The Association of Stockbroking Companies Malaysia (ASCM) says it has met with SC and Bursa Malaysia and proposed to maintain the stamp duty on contract notes for the trading of shares on Bursa Malaysia at 0.1%, while raising slightly the current cap of RM200. This follows a higher rate of 0.15%, as well as the removal of the RM200 stamp duty cap on the contract notes, come Jan 1, 2022, as proposed under Budget 2022, with the latter expected to have a dampening effect on the local bourse, where stock trading activity has been on a declining trend.
MBO Cinemas is coming back to business after having new investors in the company with its first cinema reopening in Atria Shopping Gallery on 29 Dec 2021.
5. AROUND THE WORLD 🌎
Singapore businessman cum conman of nickel trading scam, Ng Yu Zhi was handed additional criminal charges tied to about USD124 million in cash and assets ranging from luxury cars to jewellery and artwork. The additions brought the total number of accusations against Ng to 75.
Loh Kean Yew became the first Singaporean to win a BWF World Championships title. The world No 22 beat India’s Srikanth Kidambi 21-15, 22-20 in the men’s singles final in Huelva, Spain. The kicker? He was born in Malaysia. He went to Singapore at the age of 13 after Singapore offered him a scholarship. It seems like the brain drain in Malaysia starts young.
Chinese tennis star Peng Shuai said her posting on Weibo in November, where she accused former Vice-Premier Zhang Gaoli of forcing her to have sex with him, was misunderstood. In her first media interview since the allegations, she denied making an accusation of sexual assault.
The World Economic Forum will defer its Annual Meeting in Davos, Switzerland, in the light of continued uncertainty over the Omicron outbreak. Instead, the annual meeting will likely be held in early summer. Organisers say an online series of “State of the World” sessions will be held instead.
Chileans have elected leftist candidate Gabriel Boric, 35, as its president, making him the youngest person elected president in the country's history. Boric’s platform focused on radical reforms to address inequality seems to resonate well with the people. During his presidency, Boric aims to raise taxes on the rich and create a greener economy.
Instagram is "actively exploring" how to bring NFTs to a wider audience after parent company Meta has pivoted to the metaverse. The integration could enable people to bid for NFTs directly on Instagram. The social media platform’s move could benefit creators. Early screenshots show Instagram posts may come with a "collectable" label to mark NFTs held by a user within a dedicated section and allow users to make bids directly.
Amazon’s plans to reinstate a ban on its warehouse workers having smartphones at work is on hold after the unfortunate tragedy at its Illinois warehouse, which claimed six lives. A spokeswoman for the company confirmed with Bloomberg over the weekend.
Toyota will suspend production at five domestic factories in January due to supply chain issues, chip shortages and the COVID-19 pandemic. The suspension will affect about 20,000 vehicles but won't impact their annual target to manufacture nine million vehicles.
6. FOR YOUR VIEWING PLEASURE 👁👁
The more wheels, the better. The Brabus G700 6x6 carried a price tag of around RM3.2 million (before taxes) back in 2015.
The aftermath in Sri Muda, one of the worst-hit areas.
% of world stock market cap by country
‘Keluarga Malaysia’ photo-op