☕️ Syed Saddiq to be charged by MACC in court today with criminal breach of trust

119 countries welcoming tourists vaccinated with AZ vaccine. MACC investigates MAHB's Covid-19 private screening and testing contract award process. Flood disaster in China - 1 year rain in 1 day.

1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

8 mil people die prematurely as a result of smoking every year, which means about one in seven deaths worldwide is due to smoking.

15,000 units of the Lamborghini Urus has been sold since its introduction three years ago, a company record for the highest produced model in the shortest amount of time since launch.

119 countries welcome tourists vaccinated with AstraZeneca’s vaccine — the most widely accepted for international travel.


3. COVID-19 SUMMARY

  • DPM Datuk Seri Ismail Sabri Yaakob said 14 mil doses of Sinovac vaccine would be sold by Pharmaniaga Bhd to interest states and private companies from this month until September 2021.

  • Non-Covid 19 patients in Klang Valley public hospitals will be transferred to private hospitals immediately to make space for Covid-19 patients in public healthcare. The cost of treatment in private hospitals will be borne by the government but capped to a certain limit.

  • Sarawak Disaster Management Committee (SDMC) announced all vaccination centres in Sarawak would allow ‘walk-in’ for those without first dose appointments from July 23, 2021 (Friday) onwards. These groups of people are advised to contact their respective Divisional Disaster Management Committee to set their appointment.

  • 49 people have been remanded over the alleged SOP violation by holding roadside Aidiladha prayers in Bukit Mertajam, Penang.

  • Four police officers have been apprehended for having a ‘mini KTV’ with four women in lockup in the Kajang police station. The officers were having quite a party, with alcohol, disco lamps with microphones, speakers and TV—Malaysia’s 'mini KTV’ cluster.


4. IN MALAYSIA 🇲🇾

  1. A former minister who is still an MP will be charged by Malaysia Anti-Corruption Commission (MACC) today. He is expected to face two charges under Section 403 and 405 of the Penal Code for criminal breach of trust, misappropriating RM1.2 million of party funds.

    Investigations by the MACC has been ongoing since June 2020, after he reported RM250,000 went missing from his home last year.

    All the description points towards Syed Saddiq, which has been confirmed in a video he published. It seems like the incumbents couldn’t keep up with his performance in serving the rakyat and has to resort to alternative methods to keep him in check.

  2. Green Packet Bhd’s Kiplepay Sdn Bhd has received approval from Bank Negara Malaysia (BNM) to roll out three new features for its e-money business which operates the e-wallet ‘kiplePay.’ They are:

    • New e-wallet limit of RM10,000.

    • Issuance of virtual and physical prepaid cards link to kiplePay.

    • Electronic Know-Your-Customer (e-KYC) to onboard customers.

  3. Malaysian Anti-Corruption Commission (MACC) had recently visited Malaysia Airports Holdings Bhd’s (MAHB) headquarters to investigate the company over tender award issues. MACC requested information and documentation relating to the multi-billion ringgit Covid-19 private screening and testing contract award for Kuala Lumpur International Airport (KLIA) that was awarded to BP Clinical Lab Sdn Bhd.

  4. Public Accounts Committee (PAC) will continue its proceeding concerning the procurement of Covid-19 vaccines next Tuesday. Proceedings will start with Minister of Science, Technology, and Innovation Khairy Jamaluddin next Tuesday, followed by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz and Accountant General Datuk Yacob Musfata on July 28.

  5. The infamous nasi lemak man who spew expletives to the seller and another customer has been remanded since Tuesday and may be charged as soon as today for criminal intimidation and violation of SOP. If you haven’t watched the NSFW video, here you go. The following video contains strong language which may be offensive to viewers.

  6. Dewan Rakyat deputy speaker Azalina Othman Said proposed for Attorney-General Idrus Harun to participate in the upcoming special Parliament sitting as the AG is duty-bound to carry out his role as Yang di-Pertuan Agong and the cabinet’s legal adviser.

  7. Another consortium applying for digital bank license — agrochemical producer, Hextar Global Bhd entered into a consortium agreement with Dagang NeXhcnage Bhd’s major shareholder Arcadia Acres Sdn Bhd and Fass Payment Solutions Sdn Bhd’s special purpose vehicle, Ihsan Equity Sdn Bhd to establish a Syariah-compliant digital bank.

  8. Sapura Energy Bhd secured seven contract wins and extensions with a combined value RM1.2 bil in Malaysia and Thailand for its engineering and construction (E&C), operations and maintenance (O&M), and drilling segments.


5. AROUND THE WORLD 🌎

  1. Zhengzhou, a city in the central province of Henan, recorded the heaviest rainfall in 60 years, causing widespread floods and causing the death of 12 people and around 200,000 of its 12 mil people have been relocated. The city is known as the world’s biggest production base for iPhones, as it is home to the largest iPhone-making plant, owned by Taiwan’s Hon Hai Precision Industry Co.

    The city was hit by 457.5 millimetres of rainfall in the past 24 hours, which included a record 201.9 millimetres alone in a single hour. More than 500 were caught in an underground train tunnel and flooding the train, but fortunately were rescued. 

    Read here why the record-breaking rainfall in Henan happened.

  1. Netflix said it would dive deeper into video games as the movie and TV streaming service is projected to grow more competitive and will see weak subscriber growth. It will start with ad-free games for mobile devices on its existing service at no cost to subscribers. Global consumer spending on game software is projected to reach USD178.5 bil this year and exceed USD200 bil by 2023

    To this end, Netflix has hired Mike Verdu as VP of game development. Verdu was previously in Facebook responsible for bringing games and other content to Facebook’s Oculus-branded virtual-reality headsets. He has also worked at Electronic Arts and Zynga, both gaming companies too. Netflix has dabbled in mobile gaming before through its “Stranger Things 3: The Game”, a popular Netflix series. However, since Aug 2019, it has only amassed about USD315k in consumer spending. 

    In its most recent quarter, Netflix added just 1.54 mil new subscribers with a total base of 209 mil. Its market cap stands at USD225.7 bil.

  2. Ship refuelling, or known as bunkering is a big business. Singapore is the world’s biggest ship refuelling hub, selling about 50 mil tons of bunker fuels last year, or a fifth of the global industry. The Asian bunker fuel market was estimated at USD31-32 bil in 2020. The world’s busiest ports, however, are in China and with this, China is playing catch up to Singapore in fuelling more ships. China’s epicentre of fuel bunkering is Zhoushan, an archipelago to the south of Shanghai. 

    China’s bunkering has doubled in the last 5 years and will be 40% of Singapore’s this year. The nation is offering more incentives to attract ships travelling to nearby ports like South Korea and Japan. It has introduced tax incentives to make its fuel cheaper, expanding anchorage and building new shipping channels and issuing more bunkering licenses. One natural advantage Singapore has? Geographical superiority as it sits at the crossroads of a centuries-old trade route connecting the east and the west. 

    News in Brief:

  3. Volvo Cars announced it reached an agreement to buy out parent company Geely Holding’s 50% stake from their JV in China, taking full ownership over its factories and sales business in the world’s biggest auto market. Financial terms were not disclosed.

  4. China unveiled its faster ever train built by the country - a homegrown magnetic levitation train capable of reaching a speed of 600 km/h. The train was developed by CRRC, the world’s biggest manufacturer of train cars. It recorded a revenue of USD35.1 bil and a profit of USD1.74 bil last year. 

  1. Tesla will open up access to its global network of chargers to other EVs later this year. It has a Supercharger network of 25,000 chargers globally

  2. Brisbane has been officially announced as host of the Olympic and Paralympic games in 2032. Paris and Los Angeles will host the Olympic games in 2024 and 2028 each, respectively. Sounds good, but the economics of hosting an Olympic event is never good based on various studies.


6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)

  1. How Kit Kats are made.

  2. Countries that share greater trade with US vs China.

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