☕️ Thailand is using 'fah talai jone' herb to effectively treat Covid-19, approved by the government
PM claims to still have majority but opposition and UMNO beg to differ. Financial institutions creative plan to shut coal plant - own them. 5 years and 10 months - min time needed to grow a unicorn.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
RM60 million — the estimated loss per day suffered by the timber sector since the suspension of operations following the implementation of the National Recovery Plan (NRP) two months ago, according to the Ministry of Plantation Industries and Commodities (MPIC).
100,636 — the number of people who died from Covid-19 in Indonesia. Indonesia is the 2nd country in Asia to hit the 100k deaths mark.
3. COVID-19 SUMMARY
Malaysia recorded its highest Covid-19 daily new cases yesterday since the pandemic begun with 19,819 tested positive. Selangor recorded the highest number of cases at 8,377, followed by Kuala Lumpur (2,467) and Kedah (1,371). The number of fatalities was also the highest, with 257 deaths.
Dr. Musa Nordin questioned why hasn’t the National Pharmaceutical Regulatory Agency (NPRA) approved the use of Moderna’s Covid-19 vaccine, citing possible kickbacks or the lack thereof.
In collaboration with
4. IN MALAYSIA 🇲🇾
Politics & Local
After Prime Minister Tan Sri Muhyiddin Yassin met with Yang di-Pertuan Agong yesterday morning, he held a press conference to say he will not resign and that he still has the majority in the Parliament. The confidence vote will be tabled in the Dewan Rakyat sitting in September.
PM and his cabinet be like:
Bro, just issue a PDF next time instead of wasting our lunchtime.
“During the royal audience, I had informed the King that I also received a number of letters from Members of Parliament that had convinced me that I still enjoy the majority support in the Dewan Rakyat at the moment.”
At his press conference, he also claimed his critics (i.e. those UMNO MPs who withdraw support for him) wanted him to interfere in court proceedings. Well, four MPs are indeed facing trials:
Ahmad Zahid Hamidi
Najib Abdul Razak
Azeez Abdul Rahim
Opposition leaders did not sit well with PM’s plan of having the confidence motion tabled in September. They’re calling for another special of Parliament to be held no later than August 9 seeing PM’s current standing is in doubt.
UMNO insists that the PM does not have the majority anymore and challenged the government to reconvene Parliament ASAP.
Datuk Seri Mohamed Khaled Nordin (UMNO) has resigned as the chairman of government-linked Boustead Holdings Bhd effective Aug 5, 2021, in line with the party’s withdrawal of support for the PN government and PM.
Ain Husniza, the teenage girl who exposed inappropriate rape jokes made by a PE teacher, says she received a RM1 mil defamation suit from Messrs Rasshidi Ema & Yung. Police report regarding the incident has been made in April 2021 but no updates thus far, unfortunately.
Former youth and sports minister Syed Saddiq Syed Abdul Rahman will be charged at the Johor Baru Sessions Court today under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.
Fraser & Neave Holdings Bhd’s (F&N) net profit grew by 2.45% to RM96.16 mil for 3QFY21 ended June 30, 2021. F&N attributed the higher sales to the low base effect last year and maiden contribution from its food business Sri Nona. The group expects consumer sentiment to remain weak amidst growing unemployment and lower disposable income.
Solarvest Holdings Bhd’s wholly-owned subsidiary Atlantic Blue Sdn Bhd (ABSB) has secured a RM66 mil contract from Grooveland Sdn Bhd as the main engineering, procurement, construction and commissioning (EPCC) contractor for the development of a large-scale solar photovoltaic plant (LSSPV) in Perak.
Egg producer Lay Hong Bhd cautioned ahead of its 1QFY22 financial results to be released this month, that high prices of poultry feed ingredients soybean meal and corn may affect the group’s profitability in the coming years.
Lay Hong executive chairman, Datuk Yap Hoong Chai assured the group will continuously seek new farming and chicken processing methods to reduce cost and increase efficiency.
5. AROUND THE WORLD 🌎
Coal-fired power plants are amongst the worst man-made contributors to climate change. How to remove them from our energy supply chain? The big boys of the finance world seem to have an idea. Blackrock, the world’s largest asset manager with close to USD10 tril in assets, is partnering with other major financial institutions including Citigroup, HSBC, and the Asian Development Bank to assess a proposal to accelerate the closure of these plants by owning them.
The proposal involves buying these coal plants in developing economies in Asia and operating them for as long as 15 years before shutting it down. The advantage these financial institutions possess to execute their plans via an ownership model is by having a low cost of capital, which will allow them to generate similar returns over a shorter period, hence shortening the payback period and allowing for the early closure of these plants.
Discussions are currently ongoing with governments in Vietnam, Indonesia and the Philippines, and may see a pilot acquisition that is “big enough to matter” next year. Participating countries will have to commit not to replace these shuttered coal plants with other fossil fuels.
What’s the fastest time it takes to build a unicorn? An average of 5 years and 10 months in China according to a research by British price comparison site, Money.co.uk.
Some insights from this report:
There are currently 750 unicorns in the world
China topped the ranking in terms of speed
US took the top spot for producing the most unicorns (378), followed by China (155) and India (34)
The top-performing sector to create unicorns is auto and transportation, with an average of 4 years and 5 months with 31 unicorns in this sector
Fintech produced the most unicorns with 131 of them, followed by e-commerce and direct-to-consumers
Our neighbour, Singapore, whose Covid-19 is well-managed and under control, is ranked 4th in terms of speed at 6 years and 11 months with 6 unicorns created
Thailand’s richest man, Dhanin Chearavanont of CP Group, one of Thai’s top conglomerates, has announced that his company will start producing a traditional herbal remedy to treat symptoms of Covid-19. CP Group will set aside 16 hectares of land to grow fah talai jone or green chiretta/creat in English, a plant that can be made into anti-inflammatory herb which was recently approved by the health ministry to treat coronavirus patients. It takes about 100 days for the plant to mature. The company will turn the herb into capsules and will be provided to the public for free.
This herb has been widely used for centuries in Thailand to treat acute respiratory tract infections and reduce inflammation and coughing. The Thai government approved it in July after a trial of the herbal remedy on prison inmates, in which 99% of 11,800 subjects with mild symptoms reportedly recovered. Infections have been surging in Thailand, hitting a record high of 20,200 on Wednesday.
Why is this not getting much attention in our media, as compared to Ivermectin? Any doctors or medical experts able to share their opinion and thoughts towards this herbal treatment?
News in Brief:
SoftBank has quietly built a USD5 bil stake in Swiss pharma giant, Roche Holding AG (market cap: USD381 bil), as it bets on the company’s strategy of using data to develop drugs. It is now one of Roche’s largest investors. The founding families of Roche own 50.1% of the company’s voting class shares, whilst its cross-town rival Novartis owns a third.
Employees at embattled Bill Hwang’s family office, Archegos Capital management, stand to lose as much as USD500 mil in deferred bonus payments after the investment fund’s collapse shrank the value of their bonuses.
Automattic, the owner of Wordpress, has made its single largest investment of USD30 mil in Titan at a valuation of USD300 mil. Titan is a professional email startup that wants to disrupt the email market by delivering a range of professional features. The company was founded by tech billionaire Bhavin Turakhia, a serial entrepreneur with multiple exits under his belt. His banking startup Zeta recently in May raised USD250 mil from SoftBank Vision Fund 2 at a USD1.45 bil, making it a unicorn
6. FOR YOUR VIEWING PLEASURE 👁👁
Gotta say this was pretty funny. On social media, lots to comment but when in parliament, silent.
Mahiaddin says he has majority. Let’s do the maths.
GoPro footage of Earth and the International Space Station during a spacewalk
If you’ve been seeing the collaboration posters in some of the issues in the past month, we’ve teamed up with our friends at NextUpAsia to feature interesting businesses and give the businesses additional exposure during these challenging times. We hope it hasn’t affected your reading experience with The Coffee Break. Thank you for the support!