☕️ Ramly Burger: The Billion Ringgit Company
With RM127bn collection target, LHDN is watching us closely. Will BNM run the money printing machine hard like its US counterpart, the Federal Reserve?
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1. NUMBERS AT A GLANCE
RM127 billion: Malaysia’s Inland Revenue Board (IRB) KPI to hit for 2020.
RM559.19 million: Amount of Top Glove’s share buybacks in Nov 2020 alone.
890,000 copies of “A Promised Land” sold in its first day, the highly anticipated memoir of former US President, Barack Obama.
2. COVID-19 SUMMARY
3. IN MALAYSIA
Started in 1978 with RM2,000 and producing 200 patties a day, Ramly Burger is a billion ringgit company today. In 2019, it achieved RM1bn in revenue and produces 1mil patties a day. With a RM500mil investment, they are looking to expand their capacity by 6x to produce 6mil patties a day. This is the story of Ramly bin Mokni, the eponymous founder of Ramly Burger.
“BNM should print money,” according to our Deputy Minister of Youth and Sports, Wan Ahmad Fayhsal during a podcast with BFM. Time to long $BTC.
Some rejoiced at Government’s decision to allow withdrawal from EPF’s Account 1 but one Malaysian thought it is a RM60 billion scam. Why? Because the people who need it most (the self-employeds), largely are not EPF contributors.
AirAsia X reported a widening net loss of RM308.46mil in its latest quarter and total 9-month net loss of. RM1.6bn for its financial year. Its outstanding debt amounts to RM63.3bn and its survival is subject to its debt restructuring scheme.
The 14th General Election is looming close as Zahid calls for motion of confidence to be tabled but this needs to happen after the 3rd Covid-19 wave has tapered off, seriously.
Malaysia’s most controversial figure, Namewee is in trouble again, after police report lodged against him for his latest movie poster.
The Minister with the best beard in Malaysia, KJ said Malaysia will make upfront payment of RM94 million for access to Covid-19 vaccines.
4. AROUND THE WORLD
Looking to ride the e-commerce wave and be a seller on Shopee or Lazada? Take inspiration from this company - SellerX. Instead of starting out and being yet another seller on Amazon Marketplace, SellerX, a Berlin-based company, buys up smaller enterprises that sell on Amazon and consolidate their operations and buying power. SellerX announced it raised USD118mil to fuel its acquisition of Amazon Marketplace sellers.
Remember Apple’s ‘batterygate’ scandal in 2017 where they revealed that they deliberately slowed down users' phones to prevent aging batteries from causing the devices to randomly shut down but users perceive this tactic as forcing them to upgrading to a new iPhone model? Apple will be paying USD113mil settlement in an investigation towards this practice. This is on top of the USD500mil it paid for a class-action lawsuit back in Mar for the same matter.
How high is the interest rate in Turkey? Relative to the rest of the world, Turkey’s benchmark interest rate is 15% vs US (close to zero). Its central bank hiked interest rate from 10.25% to 15% Despite such a high figure, inflation is rampant in Turkey due to the weak Lira with most recently reported inflation rate of 11.9%.
Softbank has ‘USD80bn cash on hand’. Read up more here on Masayoshi Son, CEO of Softbank, interview at Dealbook conference.
Rolex is axing its relationship with WPP, the ad media company, after 75 years and planning to set up its own in-house ad agency. It’s estimated Rolex spends USD30mil a year with WPP.
Elon Musk’s SpaceX successfully launched its first full NASA astronaut crew to the International Space Station on Sunday. See the mission here in photos.
5. MARKET SUMMARY
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