☕️ University of Nottingham - The RM500million University

Covid-19 - bane for the economy, boon for the stock market. Cybersecurity giant gets hacked. Breakdancing now an Olympic sport.

Know more, learn more. Be smarter in 3 minutes.

The underlined words are links! Click on them to the news article.

1. MARKET SUMMARY

We’ve been monitoring the indices and as these indices rally to all-time highs, we can’t help ourselves but to wonder - is Covid-19 a pandemic or a stimulus?


2. NUMBERS AT A GLANCE

RM24 billion of government assistance has benefitted 1.4 million SMEs.

  1. SME Soft Loans Funds under BNM - RM11.13 billion

  2. Wage Subsidy Programme - RM9.89 billion

  3. Prihatin Special Grant - RM2.55 billion

USD13.74 billion - total bank fines in 2020 for violations in anti-money laundering rules (the most common) and market manipulation. Common names on the list - Goldman Sachs, Citigroup, Deutsche Bank. So much for Bitcoin being a channel for money laundering.

US$12 trillion - Amount governments around the world spent to cushion the blow from the pandemic according to IMF.

81,284,000 votes went to Joe Biden, setting the record for most ever votes cast for a U.S. presidential candidate.


3. COVID-19 SUMMARY


4. IN MALAYSIA

  1. Despite recording an impressive net profit of RM2.38 billion for 1QFY2021 (ended 30 Sept 2020) and declaring dividend of 16.5 cents, Top Glove Corp Bhd’s closed 3.53% lower at RM6.84. On another note, the company also expects the Klang factories to be fully operational in the next two to three weeks’ time.

  2. Boustead Holdings and YTL Corporation who are the owners of University of Nottingham Malaysia are looking for a buyer. What’s the price? RM500 million.

  3. Malaysia’s most popular tweet in 2020 went to (drum rolls) - a video featuring an animated character Fizi, apologising to Upin & Ipin.

  4. Our dear Uncle Tony (Tan Sri Tony Fernandes) foresees ASEAN nations to mandate Covid-19 vaccinations prior to entry to any of the countries.

  5. Parents of a 5 year old boy are seeking donation to help their son undergo an open-heart surgery. The boy, Muhammad Hafidz is suffering from atrioventricular septal defect where the valves that control blood flow may have been incorrectly formed. To donate, click on the link!

  6. Ministry of Communications and Multimedia (KKMM) had appointed MMU to conduct research related to cyber-bullying laws back in July 2020. The survey will conclude by Jan 2021 but preliminary raw data found that 89% of legal practitioners want cyberbullying categorised as a criminal offence.


5. AROUND THE WORLD

  1. The irony - USD3.5 billion giant cybersecurity firm and leader in fighting cybercrime, FireEye was hit by a cyberattack allegedly by Russian state-sponsored hackers. The hackers stole FireEye’s proprietary attack test tools, ‘Red Team’. The company noted that the hackers used highly sophisticated methods that cover tracks and making forensics investigations difficult - a combination of techniques not seen before by the company. 

    Its stock price tumbled 13%, wiping out USD450 million in value.

  2. Facebook’s previously named digital currency, Libra has been rebranded to Diem. The German Finance minister calls it ‘wolf in sheep’s clothing’ and that the government must have control over the monopoly of money

    ‘A wolf in sheep’s clothing is still a wolf. It’s clear to me that Germany and Europe cannot and will not accept its entry into the market while the regulatory risks are not adequately addressed’

    - Olaf Scholz, German Finance Minister.

  3. Calm, the top meditation app, raises USD75 million at a USD2 billion valuation. It charges a subscription fee of USD15 per month or USD70 per year. To date, it has achieved more than 100 million downloads, up from 40 million in Feb 2019 and 4 millionpaying users, up by 1 million during the same period. 

    A rough calculation shows that its annual run rate, assuming all its paying subscribers opt for the annual plan is USD280 million. Calm is reportedly profitable.

  4. Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has softened his stance on Bitcoin. Previously a skeptic, he has a more positive outlook of Bitcoin now compared to a month ago. 

  5. ‘The Rollover’ - sounds straight out of a movie, this is a method used by criminals by climbing onto a moving delivery truck and breaking in whilst the truck is moving to steal PlayStation 5, which is in extremely high demand. The Times reported that ‘The Rollover’ has been pulled off 27 times this year. 

  6. Breakdancing and skateboarding will be an Olympic sport, but not squash despite decades of lobbying. Australian 3x world squash champion, Michelle Martin said the Olympics have been made a ‘mockery’ with this decision to include breakdancing.

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