☕️ RIP Tun Rahah, ex-PM Najib Razak's mother

New and more contagious Covid-19 strain spreading in UK. Trump Twitter password: maga2020!. One of the world's largest crypto exchange set for IPO.

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1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

10,000 guests attended Ku Nan’s son’s wedding drive-thru style. #2020Things.

307 days - the amount of time Donald Trump spent at golf clubs, about 21% of the days of his presidency or roughly 1 in 5 days. Good life.

US$8,500 is the cost to be smuggled from Afghanistan to Italy.

4.6% of US wealth is controlled by millennials through the first half of 2020. Baby boomers? A whooping 53% according to Federal Reserve’s data.


3. COVID-19 SUMMARY


4. IN MALAYSIA

  1. Pakatan Harapan needs a “reset” according to DAP’s Lim Guan Eng and Amanah’s Mohamad Sabu. Will former Sabah Chief Minister, Shafie Apdal take the helm at Pakatan Harapan soon while DS Anwar Ibrahim calculates his numbers?

  2. The government will be purchasing vaccines for 50% of the people according to Health Minister DS Dr Adham Baba. Both AstraZeneca and Pfizer will supply 20% of Malaysia’s requirement and COVAX will supply 10%.

  3. Condolences to the Razak family as, former Prime Minister Najib Razak’s mother, Tun Rahah Mohamed Noah has passed away on Friday.

  4. AirAsia is introducing four new domestic routes for the coming week:-

    • Kota Bharu to Langkawi (19 Dec)

    • Penang to Kota Bharu (22 Dec)

    • Johor Bahru to Kota Bharu (22 Dec)

    • Ipoh to Langkawi (23 Dec)

  5. Federal Territories Minister Tan Sri Annuar Musa says all flats over 40 years old including those built by private developers will be redeveloped. Is this another general election sweet?

  6. Majlis Amanah Rakyat (MARA) has signed Memorandum of Understanding (MoU) with Shopee Malaysia to expand and strengthen the marketing of Bumiputera entrepreneurs’ products online.

  7. Mi Technovation Berhad has proposed the acquisition of a 99% stake in the Taiwanese firm Accurus Scientific Co. Ltd for RM217.01 million. The acquisition complements Mi Tech’s business as Accurus is involved in the manufacturing of solder spheres which are widely used in advanced packaging such as ball grid array and wafer level packaging in the semiconductor industry.


5. AROUND THE WORLD

  1. Coinbase, the preeminent crypto exchange company has filed for IPO. It’s the largest crypto exchange in US and amongst the largest in the world. Goldman Sachs is reportedly picked to lead this IPO. 

    Some information on Coinbase:

    1. 35 million users

    2. Raised a total of USD547 million in the private market. 

    3. Latest valuation in Aug 2018 valued it at USD7.7 billion. A year earlier in Aug 2017, it achieved unicorn valuation of USD1 billion. 

    4. Daily trading volumes exceeds USD1 billion.

    5. Assets under custody have grown to USD20 billion from USD7 billion in 2019.

    6. The crypto research company, Messari has set a valuation of USD28 billion for Coinbase

    7. Some of its early backers include Andreessen Horowitz and Union Square Ventures.

  2. Business Insider revealed that Jared Kushner, the son-in-law of President Trump set up a shell company, that secretly channeled USD617 million from Trump’s campaign of USD1.26 billion to the president’s family members. Although huge amounts were channeled to this company, the Trump campaign did not disclose much information about the company nor how it used the money. Even the Trump campaign top advisors and campaign staff have little visibility on how the company functions.

  3. A new strain of Covid-19 virus has been found spreading, leading to rapid rise in cases in London and southern England. UK Prime Minister Boris Johnson said that this variant is 70% more contagious than existing strains.

    As a result, growing number of European countries including Netherlands, Italy and Belgium are banning flights from the UK.

  4. An ethical, white hat hacker, Victor Geves, has previously hacked into President Trump’s Twitter account on his 5th attempt back in October.The password? ‘maga2020!’. No actions will be taken against him as he reported this vulnerability immediately to the authorities for making ‘responsible disclosure’. Despite being a high profile account, 2fa wasn’t activated.

  5. After 2 years since it was announced, Whatsapp Pay is now live in India, its largest international market with 390.1 million users, in partnership with 4 banks.

  6. The US-China trade tension has found another victim. DJI, the USD15 billion drone company from China has been added into the US Department of Commerce ‘Entity List’. Given its dominance in the US market with 77% market share and drones generally have surveillance capabilities, it makes DJI a perfect target to be added onto the list. 

    What is the Entity List?

    The Bureau of Industry and Security (BIS) publishes the names of certain foreign persons – including businesses, research institutions, government and private organizations, individuals, and other types of legal persons - that are subject to specific license requirements for the export, reexport and/or transfer (in-country) of specified items.  These persons comprise the Entity List, which is found at Supplement No. 4 to Part 744 of the Export Administration Regulations (EAR).  The persons on the Entity List are subject to individual licensing requirements and policies supplemental to those found elsewhere in the EAR.

    See the full listing of the new entries of 77 companies here.

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