☕️ TnG 10% parking surcharge removed at sites nationwide (90% at least)

AirAsia Group FY2020 multi-billion loss. Brazil contributing 26% of daily Covid-19 death toll. The stuck vessel in Suez Canal is freed after 6 days costing estimated economic damage of USD60 bil

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45% of global CEOs (n = 500) expects things to go back to ‘normal’ in 2022 only.

129,110 people have completed two doses of Covid-19 vaccine in Malaysia as of March 29 2021.

Over the past few months, crypto art pieces have sold for millions of dollars, accounting for over $1 billion in sales, according to data from CryptoSlam.

RM320 million was paid by Putrajaya to the Singapore government as a compensation for the High Speed Rail cancellation. The amount represents a full and final settlement.



  1. AirAsia Group Bhd posted net loss of RM2.44 billion for 4QFY20 ended Dec 31, 2020 after the low-cost carrier booked a series of impairments. Full year loss amounted RM5.1 billion, a major portion of the loss for the period relates to depreciation of rights of use (ROU) and interest on lease liabilities amounting to RM654.2 million for 4QFY20 and RM2.5 billion for FY20.

  2. Looks like Top Glove Corp Bhd’s plan to resume importing gloves to the US has hit a snag as the US Customers and Border Protection (CBP) said it has found “conclusive evidence” that certain products by the biggest glove manufacturer have been manufactured with the use of convict, forced or indentured labour.

  3. Touch ‘n Go (TNG) Group has launched GO+, a financially inclusive investment product which allows Touch 'n Go eWallet users and all Malaysians to gain access to low-risk money market investments for as low as RM10. Have you updated your app yet? Here are five things you should know about the product!

    Group Chief Executive Officer (CEO) Effendy Shahul Hamid also the company has no plans to pursue for public listing for now but fund raising activities from the private market will continue.

    Another good news is — 620 out of 662 sites out have removed the 10% parking surcharge on Touch ‘n Go cards!

  4. Analysts said the proposed takeover of Eastern & Oriental Bhd (E&O) by Kerjaya Prosper Group Bhd’s Tee brothers is unattractive but fair citing the value of the Seri Tanjung Pinang Phase 2A (STP2A) project will take many more years to realise.

  5. Ministry of International Trade and Industry (MITI) said Malaysia’s exports jumped 17.6% y-o-y to RM87.57 billion in February 2021, supported by higher shipments of electrical and electronic (E&E) products, rubber products and commodity-based products.


  1. An explosion and massive fire broke out at Balongan oil refinery in West Java, owned by Indonesia’s state oil company, Pertamina. It’s one of Pertamina’s largest refineries with a processing capacity of 125,000 barrels per day. The cause has yet to be identified but it occurred during a lightning storm. 5 people were reported to be injured and 950 residents nearby have been evacuated. 

  2. The world’s top 3 cruise lines - Norwegian Cruise, Carnival Corporation and Royal Caribbean have accumulated more than USD60 bil in debt and are expected to increase further as the pandemic decimated their business. 

    Debt on books | Monthly Cash Burn

    Norwegian Cruise Line - USD12.15 bil @ Dec 2020 | USD150 mil per month

    Carnival Corporation - USD24.9 bil @ Aug 2020 | USD530 mil per month

    Royal Caribbean - USD18.95 bil @ Sep 2020 | USD250 mil per month

  3. Ever Given, the massive container ship that is stuck in Suez Canal for more than 6 days (152 hours) has been freed. Tugboats were able to pull the 1,300 feet, 220,000 tons ship from the bank where it had been stuck. It is estimated that for every hour, it costs USD400 mil to the economy, amounting to a total costs of USD60 bil. 

    Before it was freed, it was estimated around 400 ships were waiting to cross the Suez Canal. 

  1. The Covid-19 situation in Brazil is getting out of control. The nation has far more daily Covid-19 deaths than any other countries in the world. With over 12.5 mil confirmed cases and more than 312k deaths, Brazil’s 7-day average of daily deaths of 2,542 account for 26% of the world’s total death toll.

    On Saturday, Brazil reported 3,368 deaths related to Covid-19. The situation is expected to get worse with some experts predicting 4,000 deaths a day. 

  2. A sell-off in stocks of more than USD20 bil by Morgan Stanley and Goldman Sachs due to a failed margin call has rattled the markets triggered by trades that had gone wrong at the USD10 bil family office of trader Bill Hwang, Archegos Capital Management. A protege Tiger Management hedge fund legend Julian Robertson, Archegos was formed when Bill Hwang converted Tiger Asia into a family office after admitting guilty to insider trading and a USD60 mil settlement and had to close down the fund.

    His bankers had to force sell more than USD20 bil worth of shares after Archegos failed to provide more capital. This has caused banks like Nomura and Credit Suisse to issue warnings that they will be taking a hit from their exposure to Archegos, with Nomura expecting a USD2 bil hit.  A good and brief summary here by Bloomberg on this saga so far. 

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