☕️ Watch TV3's Majalah 3 coverage of the heartbreaking Covid-19 situation in Malaysia
2 mil doses of Sinovac donation to Penang blocked by federal govt. 'The Big Short' Michael Burry's USD534 mil Tesla short position. Shein - the USD15 bil less-known, media shy e-commerce app.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
USD 2 million — have been lost through crypto scams by Elon Musk impersonators in the past six months according to Federal Trade Commission (US). The giveaway scams are the most common, the impersonators would promise to multiply or match the amount of cryptocurrency sent into the scammers’ wallet.
94% of consumers in APAC will consider using emerging payment methods such as QR code, digital or mobile wallet, instalment plan, cryptocurrency, biometrics and others in 2021, according to Mastercard.
Over 200 million vaccine doses have been delivered by DHL Express internationally to over 120 countries, involving 350 facilities.
3. COVID-19 SUMMARY
R-Nought as of May 17 2021 in Malaysia is 1.06 but four states with the highest Rt were Perak (1.26), Kedah (1.24), Terengganu (1.22) and Pahang (1.22).
Health DG Tan Sri Dr Noor Hisham Abdullah has expressed concerns over new variants of Covid-19 where the carriers do not show any symptoms and their Covid-19 screening tests often came back negative. It is really invisible now. Be careful all, stay safe.
4. IN MALAYSIA 🇲🇾
Carlsberg Brewery Malaysia Bhd reported lower net profit by 8.91% y-o-y to RM66.46 million for 1QFY21 ended March 31 2021 as it recorded lower sales in Malaysia due to MCO2.0 while partially mitigated by higher sales in Singapore. Carlsberg's board will continue to suspend its review of a dividend policy for 2021 until later in the year.
PayLater by Grab will be made available to selected online GHL merchants that are utilising the eGHL Payment Gateway according to an announcement by GHL Systems Bhd. GHL has approximately 2,700 merchants across Malaysia. PSA — when you use PayLater on the Grab app, you do not get points for your purchase.
AirAsia Group Bhd has appointed an internal employee, Amanda Woo to Chief Executive Officer of airasia super app with effect today. Woo will be reporting to Aireen Omar, President (airasia Digital) AirAsia Group.
Woo has an amazing track record with over 15 years of experience in e-commerce, lifestyle brand and retail marketing with prominent global brands. The biggest winner of competition of in the super app space — Malaysians.
Datuk Seri Najib Razak’s misappropriation of RM42 million in SRC International Sdn Bhd appeal hearing has completed after the court heard arguments from both parties for 15 days. The decision date yet to be fixed, what do you think the outcome will be?
Meanwhile, his son — Mohd Nazifuddin Najib has been served with a bankruptcy for failing to pay income tax amounting to RM37.6 million as ruled by the High Court in July last year.
Third time is the charm it seems, Neelofah and family are in trouble again after video of the family celebrating the first day of Raya in 2021 surfaced on social media. Brickfields OCPD Asst Comm Anuar Omar said investigations have been opened on this matter.
Guess who posted the video? The sister…
Chief minister of Penang Chow Kon Yeow is crying foul that the federal government is standing in the way of two million doses of Sinovac vaccines that are being offered for free by a private company as part of its corporate social responsibility (CSR) programme. According to Chow, the health ministry has denied the state permission to use the vaccines and told it to wait for the National Covid-19 Immunisation Programme to be rolled out.
However, coordinating Minister for National Covid-19 Immunisation Programme, Khairy Jamaluddin said all states in Malaysia are allowed to undertake their own vaccine supply purchases, provided that the vaccines must first be approved by the National Pharmaceutical Regulatory Agency (NPRA).
5. AROUND THE WORLD 🌎
Amazon is reportedly in negotiation to acquire MGM Studios for USD9 bil, a move to expand its Amazon Prime streaming inventory to include a deep catalogue of about 4,000 films and 17,000 TV episodes with big names such as James Bond, Hobbit, Rocky franchises. It recorded revenue of USD1.5 bil in 2020. Last month, Amazon’s streaming service surpassed 200 mil Prime members worldwide, with at least 175 mil users streaming Prime Video content and streaming hours were up more than 70% year-on-year. In Q1 2021, Amazon said it made USD7.6 bil revenue in subscription services - about 7% of its net sales.
Fujifilm Wako Pure Chemical Corp, a unit of Japan’s Fujifilm Holdings Corp said it is capable of developing detection kits for new variants of the coronavirus in about a month. The kit is currently able to detect the L452R variant first identified in India and California and recently discovered in Tokyo. Much of Japan is under the state of emergency as a fourth wave of Covid-19 assails the country. Western Japan is hard-hit by the more contagious strain first discovered in Britain. Fujifilm Wako kit uses reagent chemicals to detect mutations in the SARS-CoV-2 virus and can deliver results in under 100 minutes.
A less-known e-commerce app has emerged as the most downloaded shopping app on iOS and Android in the US, displacing Amazon - Shein. As of May 17, Shein was the top iOS shopping app in 54 countries and ranked top on Android across 13 countries. Shein on its website describes itself as an ‘international B2C fast fashion e-commerce platform’. It controls the entire value chain from design, production, and right to the end of distribution. Think Zara of the internet.
Its valuation exceeded USD15 bil and doesn’t try to make itself known to the media. It’s dubbed as the ‘TikTok for e-commerce’. Shein, which was previously named ‘She Inside’, is rather mysterious as little is known about this company apart from its headquarters in Nanjing, China and with offices in several cities around the world. Its founder and CEO Chris Xu is not mentioned on its website. It also did not announce its investors but according to Chinese media, big names like IDG Capital , Sequoia Capital China, Tiger Global and Xiaomi founder’s Shunwei Capital are amongst its backers.
‘The Big Short’ famed investor, Michael Burry, revealed in a regulatory filing a short position against Tesla worth USD534 mil. Burry made his name for calling and profiting from the subprime mortgage crisis in 2008. Burry, through his firm, Scion Asset Management, has a long position on puts against 800,100 shares of Tesla as at end-March. In a deleted tweet, Burry mentioned that Tesla’s reliance on regulatory credits to generate profit is a red flag. Tesla shares have dropped nearly 20% in 2021 after surging by 740% in 2020.
News in Brief
French startup, Back Market, a marketplace for refurbished electronic goods founded in 2014 has raised USD335 mil Series D funding, valuing it at USD3.2 bil. The company has 5 mil users globally, 1,500 sellers on its platform and operating in 13 countries. Back Market estimates the market for refurbished electronics to be USD80 bil annually.
Tiket.com, an Indonesian online travel company, a competitor to Traveloka is exploring going public through a SPAC-merger that would value it at USD2 bil. Founded in 2011, a year before Traveloka, Tiket.com was acquired by Djarum in 2017, an Indonesian conglomerate that includes PT Bank Central Asia (USD55 bil market cap, Indonesia’s most valuable listed company) and is helmed by the Hartono brothers with combined wealth of more than USD30 bil.
6. FOR YOUR VIEWING PLEASURE 👁👁 (Beta Mode)
Watch TV3 Majalah 3’s coverage of the Covid-19 situation in Malaysia.
Online sales from 2016 to 2020 of goods and services in Philippines, Singapore, Indonesia and Thailand