☕️ Ultrafast delivery services is disrupting the USD1 trillion groceries market
AirAsia Group posted net loss of RM887 for 3QFY21. Covid-19 vaccines for children below 12 will likely arrive in end 2Q2022. BTS made history being the 1st Asian act to win artist of the year at AMA.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
137 feet (41.7 meters) — Supersaurus’s length from nose to tail, likely the world’s longest dinosaur. The length is equivalent to three school buses lined up end to end.
1.6 million jobs were wiped out in five Asian countries last year due to the collapse of tourism as a result of the Covid-19 pandemic, according to the International Labour Organization (ILO). Tourism-related job losses were four times greater than losses in other industries.
USD10.5 bil — the amount of money criminals made from fraud and theft cases in ‘DeFi’, based on a report from London-based firm Elliptic. That’s a sevenfold increase from 2020! DeFi has often been referred to as the “Wild West” of cryptocurrencies. The key here is — DYOR (Do Your Own Research!).
3. COVID-19 SUMMARY
Malaysia is not out of the woods as Health DG Tan Sri Dr Noor Hisham Abdullah noted the average number of active Covid-19 cases last week (Nov 14 to Nov 20) increased by 6% compared to the week before. So please stay safe and practice proper SOP!
The pediatric coronavirus vaccination for children under 12 will likely arrive beginning end of the second quarter next year, according to Health Minister Khairy Jamaluddin. He added the country did reschedule some Covid-19 vaccine deliveries this year and declined vaccine donation offers so that vaccines could go to COVAX and needy countries. Good on KJ and his team!
Skilled migrants and international students, as well as Japanese and South Korean citizens will be allowed entry to Australia beginning Dec 1, 2021. All must be fully vaccinated.
4. IN MALAYSIA 🇲🇾
Politics and Local
The National Union of Bank Employees (Nube) demands that the Employees’ Provident Fund (EPF) board ask the government to return the monies withdrawn by B40 and M40 members under the Covid-19 relief package. Rightfully so because funds from programs such as i-Lestari, i-Sinar, and i-Citra came from the workers themselves. EPF members had withdrawn RM101 bil from their savings under these schemes.
Mass rail transit (MRT) trains and stations will showcase anti-corruption posters for the next four months. The joint campaign by the Malaysian Anti-Corruption Commission (MACC) and the Mass Rapid Transit Corporation (MRT Corp) aims to cultivate integrity and accountability among commuters.
We think it would be more effective to plaster it on the ministers’ Vellfire.
PM Datuk Seri Ismail Yaakob has launched the ‘Keluarga Malaysia Pass’ at KL Sentral that costs RM15 and allows a group of up to four to use LRT, MRT, Monorail, and BRT-Sunway Line without limit on weekends and public holidays. The pass will be sold from Dec 1 onwards.
The villagers in Long Pakan, located some 150km from the nearest town Miri, in Sarawak, have been engaged in a standoff with timber giant Samling Group. The company was granted a permit to begin logging operations on an area considered to be Native Customary Rights (NCR) land by the Penan of Long Pakan. The villagers’ livelihood depends on the forest.
Switzerland-based NGO Bruno Manser Fonds (BMF) had worked together with the villagers and presented a set of 23 maps to Deputy Chief Minister Douglas Uggah Embas on the land claimed by the Penan back in 2017. However, the group is still waiting for a response from the state government.
Malaysia Venture Capital Management Bhd (MAVCAP) offers two new venture capital (VC) funds, namely the Orbit Malaysia Fund I and the Ficus SEA Fund, with a total target fund size of RM160 million collectively. The two funds will provide equity funding to local and regional startups.
AirAsia Group Bhd posted a net loss of RM887 mil for its 3QFY21 ended Sept 30, 2021, due to travel restrictions amid Covid-19 containment efforts. The losses were also incurred due to investment in technology, talent, and network as AirAsia continues to scale up its super app and its air cargo division, Teleport.
Despite the sustained losses, the board foresees it will have sufficient liquidity to sustain the business operations throughout 2021 and 2022 after various fundraising exercises and cost containment measures.
Crude palm oil (CPO) counter Ta Ann Holdings Bhd saw its net profit for 3QFY21 ended Sept 30, 2021, surged by 141.5% YoY to RM103.29 mil. The increased net profit was contributed by higher average selling prices of crude palm oil (CPO), fresh fruit bunches (FFB) production, and export logs.
Ta Ann also declared a second interim single-tier dividend of 20 sen per share, payable on Jan 24, 2022.
The Kuala Lumpur-based hospital group, IHH Healthcare Bhd, is considering the potential sale of its China unit, Parkway China, in a deal that could value the chain at as much as USD1 bil. The group is in discussions with potential advisers but has been hush-hush about the deal.
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5. AROUND THE WORLD 🌎
Chinese President Xi Jinping told leaders of the 10-country ASEAN at a summit on Monday that Beijing would not "bully" its smaller regional neighbours amid rising tension over the South China Sea.
China's assertion of sovereignty over the South China Sea has set it against ASEAN members Vietnam and the Philippines, while Brunei, Taiwan, and Malaysia also lay claim to parts. But Xi said China would never seek hegemony nor take advantage of its size to coerce smaller countries and would work with ASEAN to eliminate "interference".
Peter Buck, the last surviving co-founder of Subway, has died on Thursday at 90 years old for reasons yet to be disclosed. The nuclear-physicist-turned-entrepreneur was 34 when he gave the other co-founder, 17 year old Fred DeLuca, the idea and initial USD1,000 to start a submarine sandwich shop. Buck is estimated to have a net worth of USD1.7 bil and was also the 7th largest landowner in the US.
The first restaurant opened in 1965. Subway is now the world’s largest submarine sandwich chain with 44,000 locations worldwide. Unfortunately, subway has been going through a rough patch, with sales declining dramatically from the record USD12.3 bil achieved in 2013 to nearly USD4 bil now. Watch how Subway rose and then fell in the documentary below.
K-pop boy band BTS made history being the first Asian act to win artist of the year at the prestigious US awards show, the American Music Awards (AMA) since the category was launched in 1996 (technically, Bruno Mars, who is of Asian descendant though born in the US, has also won the title).
BTS beats Ariana Grande, Drake, Olivia Rodrigo, The Weeknd, and reigning AMAs Artist of The Year titleholder Taylor Swift. BTS also took home “Favourite Pop Song’ and ‘Favourite Pop Duo’ at the AMAs.
The UK government announced that decapods and cephalopods such as octopuses, crabs, and lobsters would be recognized as sentient beings under UK animal welfare laws after a review concluded there is strong evidence they are capable of feelings.
A review of 300 studies concluded there is strong evidence some invertebrates are sentient. Sentient is defined as "the capacity to have feelings, such as feelings of pain, pleasure, hunger, thirst, warmth, joy, comfort and excitement."
A new retail model is taking cities in the US by storm — ultrafast delivery services that bring groceries within 15 minutes. The model is shaking up the USD1 trillion groceries industry.
Currently, there are two modus operandi:
Mini warehouse hubs — when an order is placed, a so-called picker goes around the mini-warehouse hubs to collect the items and pack them in a large backpack. A courier then delivers the orders.
Store on wheels — a minivan converted into a store will show up at the customer’s doorstep after tapping on an app, letting the customer pick the products he wants.
6. FOR YOUR VIEWING PLEASURE 👁👁
How does glow in the dark work?
Ms McDonald, the English teacher that greatly inspired Adele.