☕️ TSMC - the lesser-known Asian tech company is more valuable than Berkshire Hathaway, Visa and Walmart
Malaysia's Covid-19 R0 below 1.0. Luckin Coffee filed for bankruptcy protection. A Paris court found the French government legally responsible for failure to meet climate change goals.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
HKD969,000 — or RM508,757, the most expensive parking spot in the world, in Hong Kong’s financial district.
US$519 million — the cost of Donald Trump’s attempts to overturn the November 2020 election.
RM200,000 has been donated by The Crown Prince of Johor Tunku Ismail Sultan Ibrahim to Ebit Lew to support the latter’s humanitarian missions.
450 million MAU - Pinterest has reported that it has 450 million Monthly Active Users (MAU) in 2020, with 100 million new MAU added.
3. COVID-19 SUMMARY
4. IN MALAYSIA 🇲🇾
Porsche AG is setting up an assembly plant in Kedah, partnering with Inokom Corp, a unit of Sime Darby Bhd. Sime Darby is also the sole distributor of Porsche cars in Malaysia.
Securities Commission Malaysia (SC) has issued an alert on a firm impersonating Khanazah’s Xeraya Capital with the dubious website www.xeraya-capital.com, offering high return investment instruments. Be please wary, the full list of SC’s Investor Alert List can be found here.
Housing and Local Government Minister Datuk Zuraida Kamaruddin has launched a pilot study on disposal of abandoned cars and would involve five local municipals - Kajang, Ampang and the good ol’ Klang!
If you have had parcels being delivered to Perak in the past few days by J&T Express, you might want to check with your receiver if the goods received were okay. J&T Express has apologised and promised to make restitution after the complaints have been made after the viral video below.
Health DG Dr Noor Hisham Abdullah said the country’s Covid-19 infectivity rate has dropped to an estimate 0.94, compared to riskier levels of above 1.0, just a week ago. However, he said we cannot let our guard down because the target is to hit R0 (R-naught) number of below 0.6.
CNY’s updated SOP - Reunion dinner now allowed with no more than 15 family members living within 10km radius. Religious activities at houses of worship are allowed on Feb 11, 12 and 19 only with no more than 30 people present at any point in time.
5. AROUND THE WORLD 🌎
China-based Luckin Coffee that initially had huge ambition to go up against Starbucks has filed for bankruptcy protection in the US after being delisted from NASDAQ 7 months ago. In April last year, it was revealed that Luckin Coffee inflated its sales by USD300 million. Luckin Coffee was fined USD180 million in Dec 2020 by the US SEC for defrauding investors
Taiwan Semiconductor Manufacturing Co. (TSMC) is the world’s largest manufacturer of semiconductors and chips. It counts Apple, Broadcom and Qualcomm amongst its customers. This low-key, less sexy, non-consumer facing tech company is the 10th largest listed company in the world by market value with a market cap of USD575 billion, bigger than Berkshire Hathaway, credit card giant Visa and banking giant JP Morgan Chase, third biggest in Asia after Tencent Holdings and Alibaba.
It made a revenue of USD46.8 billion in 2020, with smartphone chips accounting for 48% of its revenue and its profits soaring by 50% to USD18.5 billion from a year earlier - an impressive 39% profit margin.
A 24-year old Australian national, Stefan He Qian has admitted guilt to securities fraud, including embezzlement to finance his personal expenses and misrepresentation and false promises to investors through 2 crypto hedge funds with assets more than USD100 million. He went as far as raising the second fund to pay back investors in the first fund. He faces up to 20 years sentence in prison.
China’s Mars probe, Tianwen-1 has beamed back its first photo of the red planet - in black-and-white. The probe will be one of 3 Mars missions that will arrive in Mars this month, with the other including NASA’s and the UAE’s.
The Oxford University/AstraZeneca vaccine appears to have limited protection against the South African variant of the Covid-19 virus according to its spokesperson.
A Paris court has found France to be legally responsible for failing to meet targets set to reduce greenhouse gas emissions. This lawsuit was filed by 4 NGOs, including Greenpeace and Oxfam France following an online petition that gathered 2.3 million signatures.
The NGOs accused the government for taking insufficient policy actions to tackle climate change and only reducing greenhouse gas emissions at half the target set.
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