☕️ Tun M: Najib is Malaysia's first criminal VIP

Holiday season for the corrupts - Shafee Abdullah now can travel to New York. Car rental firm Hertz ordered 100,000 Tesla Model 3. NFT of Donald Trump signing the breast of a model up for sale.

1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

Chinese propaganda film about the defeat of the US Army — “The Battle at Lake Changjin” — has made USD769 million since its release in China on Sept 30. The movie is also the most expensive ever made in China, costing more than USD200 mil.

An avid punter of Magnum 4D Jackpot won RM23.5 mil after purchasing numbers inspired by random registration numbers of cars parked in his neighbourhood. Of course, we do not condone gambling, but what would you do with RM23.5 million windfall?

We will be buying the world’s best asset, Bitcoin! 89 bitcoin at the current market price to be more specific.

One in 10 people work overtime of at least 20 hours a week, according to ADP Research Institute. On average, workers are posting 9.2 hours of unpaid overtime every week. The pandemic has been a massive driver of the phenomenon. Remember to take breaks regularly and do not burn yourself out!


3. COVID-19 SUMMARY


4. IN MALAYSIA 🇲🇾

Politics and Local

  1. Tan Sri Muhammad Shafee Abdullah gets his passport to fly to New York to see his son, who is settling in at the New School Parson in New York for higher studies.

    It’s bizarre how the system allows people with flight risk to leave the country — Shafee, 69, is facing two counts of money-laundering relating to a RM9.5 million payment he received from former Prime Minister Datuk Seri Najib Razak.

  2. A businessman lost RM191,000 after falling victim to a cryptocurrency investment scheme scam that promised a daily 1% return based on a pre-determined duration. Remember what we’ve said in our investment scam guide? When it’s too good to be true, it probably is. Daily 1% return is a red flag!

    Do your own research. Do not FOMO.

  3. Youth and sports minister Ahmad Faizal Azumu asked Olympic diver Pandelela Rinong why she is bringing up old stories — she had to endure a coach’s torrent of sexual jokes for seven years. YB, people take time to deal with trauma.

    When the perpetrator is someone the victim trusted, it can take years for victims even to identify what happened to them as a violation.

  4. The Dewan Rakyat has officially revoked the seven emergency ordinances (EOs) yesterday — for real this time.

  5. Former prime minister Tun Dr Mahathir Mohamad called ex-premier Datuk Seri Najib Razak the country’s first VIP criminal for being able to leave the country. Tun M has got a good sense of humour too:

    “Najib looks healthy when he goes to the Parliament and campaigning, but he becomes sick when he needs to enter the courts.”

    He also announced Pejuang would not be participating in the upcoming Malacca state election.

Business

  1. Experian Information Services (Malaysia) Sdn Bhd (Experian) has been given the green light by Bank Negara Malaysia (BNM) to continue access to the Central Credit Reference Information System (CCRIS) on Oct 25, 2021, with immediate effect.

  2. Bursa Malaysia’s darling of 2021 — Genetech Technology Bhd reported a net profit of RM16.31 mil for 2QFY22 Sept 30, 2021, jumped more than sixfold YoY from RM2.64 mil due mainly to higher sales volume and improved operational efficiency.

    Genetec also proposed to undertake a bonus issue of 661.56 million new shares on the basis of 12 bonus shares for every one share held, subject to relevant approvals. The bonus issue is expected to be completed in Q1 2022.

    Ryunanda from Stockbit likes the quarter result — “The stock is trading at 50x Annualised PE. There's meat to the hype.” Do you agree with his analysis? Join the discussion!

  3. Serba Dinamik Holdings Bhd is given a breather as Bursa Malaysia has allowed it to postpone the submission of findings of the special audit to Nov 30 from Oct 31.

  4. The Employees Provident Fund (EPF) said members using the Islamic-compliant i-Invest self-service online investment facility can now purchase up to eight unit trust funds from a maximum of five Fund Management Institutions (FMIs).

    The i-Invest users will also be required to perform an investment suitability assessment — i.e., risk appetite assessment — before conducting any transaction.

  5. Supermax Corp Bhd warned there would be material effect on its financial performance if it fails to divert sales to other markets after the US Customs and Border Protection (CBP) issued a Withhold Release Order (WRO) against the company and its subsidiaries’ products.

    At the height of the Covid-19 pandemic in 2020, the market capitalisation has once topped RM30 bil, bigger than some banks. At yesterday’s closing, its market cap is only about RM5.02 bil.


5. AROUND THE WORLD 🌎

  1. Hertz Global Holdings, the car rental firm, said it had ordered 100,000 Tesla Model 3. The purchase is reportedly worth USD4.2 bil for Tesla, suggesting little discounts were offered given that Tesla is struggling to keep up with demand for its vehicles. 

    EV will account for more than 20% of its global fleet and Hertz is now set to operate the world’s largest fleet of EV rental fleet just months after it emerged from Chapter 11 bankruptcy. This news pushed up Tesla’s share price to close at USD1,024.86 — making it the first-ever car maker to hit the USD1 trillion-dollar market cap.

  2. A former Saudi spy chief, Saad al-Jabri, told CBS’s “60 Minutes” that Saudi Crown Prince Mohammed bin Salman (MBS) talked about using a “poison ring” from Russia to kill the then-king, King Abdullah. al-Jabri, who has fled the country, said that Saudi intelligence was not sure if MBS was telling the truth or not, but said “we took it seriously” and that the meeting was recorded, and that he knows where the two copies of the tape are. 

    King Abdullah died in 2015 at 91 from lung infection, and there were no reports suggesting he was poisoned. Crown Prince Salman, Abdullah’s half-brother and MBS’ father, was then named the new king. 

  3. Exxon Mobil Corp is pursuing carbon capture storage (CCS) hubs across Asia and has started talks with some countries for potential storage options for carbon dioxide. CCS traps emissions and buries them underground but has not yet reached the commercialisation stage. 

    Last month, Exxon said that 11 companies have agreed to begin discussing plans that could lead to capturing and storing up to 50 mil tonnes per year of CO2 in the Gulf of Mexico by 2030. Southeast Asia’s CO2 emissions exceeded 4 bil tonnes per year in 2019, according to the International Energy Agency. 

    News in Brief:

  4. PayPal has backed off a USD39 bil takeover of social media company Pinterest after shareholders reacted negatively. PayPal shares fell 12% in 3 days after the report but have bounced up as much as 5% upon this news. 

  5. US Treasury Secretary Janet Yellen said inflation in the US will remain elevated until the middle of 2022 as supply shortages and global energy crunch slams the US. Inflation was said to be ‘transitory’ earlier. 

  6. Created, a tech and digital content company, soared by 68% on Monday after announcing it would sell NFTs of former President Donald Trump. The NFT features “3 candid images of a young Donald Trump, captured as he signs the breast of a model, surrounded by a crowd at a large formal gala”, according to the press release. The NFT will be sold on OpenSea, the “eBay for NFTs”. 

  7. A man serving a house arrest for drug crimes in Italy has asked to be imprisoned so that he could get away from his wife.


6. FOR YOUR VIEWING PLEASURE 👁👁

  1. A mind-blowing rainbow that lasted for 20 minutes was captured in the village of Edale in Derbyshire by photographer Danny Shepherd. See here for more photos of this rainbow.

  2. How much does it cost to get a Tesla in Malaysia?

  3. Pak Lebai, rasuah tu tak haram ke?