☕️ This is when you can get your Covid-19 vaccine - Mar, May or Aug
Is Mydin, the retailer, falling behind times? A social media forum that costs Wall Street USD6 billion. Ray Dalio - losing USD12.1 billion in 2020, yet still all-time best hedge fund manager.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
2.8 million Malaysians may lose their job should total lockdown be imposed next month.
US$6 billion mark-to-market losses YTD for GameStop’s short traders as Redditors decided to pump the shares going against Wall Street short sellers. A Redditor claimed to have turned his USD53,566 GameStop call options into USD11.2 million over a year.
US$1.3 billion lawsuit awaits Rudy Giuliani as Dominion Voting Systems sued the former for defamation after he peddled bogus conspiracy theories on election fraud.
3. COVID-19 SUMMARY
4. IN MALAYSIA 🇲🇾
Pharmaniaga Bhd has signed an agreement with the Malaysian government to supply 12 million does of Sinovac Covid-19 vaccines. Duopharma Biotech Bhd closes a deal with the Malaysian government to supply 6.4 million doses of Russian-developed “Sputnik V” Covid-19 vaccine.
Malaysiakini has put together a comprehensive guide as to when can Malaysians begin getting vaccinated — when can you get vaccinated?
March: Frontline personnel
May: Elderly and sick
August: Everyone else aged above 18
National Security Council (MKN) has issued a warning notice to all government agencies to take precaution in preventing possible hacking attempts. “Anonymous Malaysia” has recently posted a viral video on Facebook of a thread to hack government websites.
Tan Sri Dr Noor Hisham said the government has no intention to extend the MCO as it will affect the economy. The government is more likely to implement CMCO for three months until May 2021 to further curb the number of new daily infections.
Meanwhile, long-distance married couples can travel interstate beginning today but they must get approval from the police to do so.
Another Macau scam syndicate got caught at Ampang Putra Residency on Monday. The 39-year-old mastermind by the name of Jason Wei has been on the run for a few years since 2014. Four Taiwanese men in total were caught and will be handed over to the Taiwanese police.
Poh Huat Resources Holdings Bhd is suspending the operations of subsidiary Poh Huat Furniture Industries (PHFI) Sdn Bhd after 543 of its workers are infected with Covid-19.
Mydin hypermarket chain owner Ameer Ali Mydin does not believe e-commerce is the way moving forward. He quipped brick and mortar businesses move the entire supply chain as people will carry out additional activities such as dining or hailing a cab. What do you think? Not believing in something doesn’t mean changes aren’t happening. Either adapt or die. That’s the free market.
Catcha Group, the well-known Malaysian tech company with related entities such as iProperty, iFlix, Common Ground is jumping onto the SPAC bandwagon. It’s planning to list its ‘blank check’ company in NYSE and raising USD250 million. Tech luminaries like Khailee Ng of 500 Startups and Kuok Meng Xiong, managing partner of K3 Ventures and early investor in Grab are amongst members of its investment advisory committee.
5. AROUND THE WORLD 🌎
After signing an executive order to get the US back into the Paris Climate Accord, President Biden's next Earth-friendly move is to replace the US government’s fleet of around 650,000 vehicles with electric models and creating 1 million jobs along the way. This move is expected to cost USD20 billion or more to replace the fleet according to Reuters.
At close to USD10 billion fines over the past few years by EU antitrust regulators, Google is once more facing fresh investigations over its data gathering and advertising practices, though both are in the early stages.
EU Competition Commission has fined Google for anti-competitive behaviour over search, shopping and Android - 3 times since 2017.
First fine : USD2.7 billion in 2017
Second fine: USD5 billion in 2018
Third fine: USD1.7 billion in 2019
Bridgewater Associates, the world’s largest hedge fund with assets under management (AUM) of USD101.9 billion run by billionaire Ray Dalio suffered USD12.1 billion in losses in 2020 despite the world’s top 20 hedge funds reaping their best returns in a decade, with the hedge funds averaging 11.6% returns in 2020, lagging the S&P 500’s 2020 returns of close to 16%.
Despite these losses, Ray Dalio is still considered the best performing hedge fund manager of all time, raking in net gains of USD46.5 billion since inception according to the latest rankings by LCH Investments.
Tencent Holdings Ltd, the Chinese tech behemoth, was so close to hitting a USD1 trillion market cap after jumping 11% on Monday to USD950 billion. In January alone Tencent added USD251 billion to its market cap as investors flock to tech sectors.
Since listing, Tencent has grown by more than 100,000%. That is 1,000x returns on investment.
Since you are reading this newsletter, thought this news is worth sharing - Twitter is acquiring Revue, a newsletter platform that allows creators (like The Coffee Break) to launch their newsletters and easily monetise through it. Twitter is planning to make Revue’s premium features free and reduce its paid newsletter fee to 5%.
Klook, the travel and leisure booking platform from Hong Kong announced it has raised its Series E round of USD200 million. Hit hard by the pandemic, the startup focused to develop solutions for business and expanding into new verticals such as staycations and car rental.
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