☕️ World's first unisex condom created by Malaysian gynaecologist

RM620mil loss in 2020 due to financial mismanagement by federal ministries and depts. Facebook changes its corporate name to Meta. IKEA + ASUS = gaming-focused furniture.

1. MARKET SUMMARY


2. NUMBERS AT A GLANCE

RM1.187 trillion — Malaysia’s federal liability in 2020, 83.8% of the country’s gross domestic product (GDP).

RM14.1 bil — European investors’ commitment to invest in Malaysia, following the Ministry of International Trade and Industry’s (MITI) trade and investment mission to Europe last week.

10 minutes and 47 seconds — the time it took for Soh Wai Ching to win the 2021 Empire State Building Run-Up yesterday. He climbed 86 floors in the race. #MalaysianPride

1,120 bitcoin - the number of bitcoin owned by the government of El Salvador, the first nation that made Bitcoin legal tender.


3. COVID-19 SUMMARY

  • Only fully vaccinated individuals can go to temples and participate in religious activities in non-Muslim places of worship in conjunction with Deepavali.


In collaboration with PlusSpace, a co-working office integrated with business services!


4. IN MALAYSIA 🇲🇾

Politics and Local

  1. The son of former defence minister Mohamad Sabu, Ahmad Saiful Islam, has been freed from his drug conviction after the High Court set it aside due to a lapse in procedure — police had only taken one sample of Ahmad Saiful's urine for analysis, instead of two samples.

  2. The homegrown whiskey Timah’s manufacturer has agreed to consider changing the name and image on the label of their award-winning product, according to the Domestic Trade and Consumer Affairs Ministry.

    We are saddened by the fact this has to be reported as news in our progressive country. In fact, it was even brought up in the parliament sitting. Rusnah Aluai (PH-Tangga Batu) said drinking the whiskey was akin to “drinking Malay women.” Muslims in this country are forbidden to consume alcohol. Muslim men can go after minahs but not Timah!

  3. Loss of public funds and wastage amounting to RM620.07 million in 2020 was due to non-compliance of federal ministries and departments with financial management. Who was at the helm during most of 2020?

  4. Perikatan Nasional's (PN) series of Gerai Prihatin Rakyat, an initiative offering goods at a discounted price, may breach election laws. The activity involving the direct or indirect distribution of food, drinks or supplies, whether prior, during or after an election with the intention to secure votes is considered an election offence under Section 8 of the Election Offences Act 1954.

  5. Dr John Tang Ing Chinh has created the world's first unisex condom that females or males can wear! According to the Malaysian gynaecologist, it's a regular condom with an adhesive covering. The name is quite a mouthful, Wondaleaf Unisex Condom.

    What would be a good marketing campaign tagline? Now everyone can wear!

Business

  1. AirAsia Group Bhd’s USD1 billion dollar Super App has partnered with more than 20 airlines as it tries to be an online travel agency that also sells flights by the airline’s competitors. The app aims to capture a 30% market share and become the top Southeast Asian online travel agency in five years. Jack of all trades, master of ____.

  2. Despite the force labour allegations trouble, Supermax Corp Bhd has declared a final dividend via a share distribution on the basis of one treasury share for every 30 existing shares held. The stock will trade ex-dividend on Dec 17, while the entitlement date for the payout is Dec 20.

  3. Lotte Chemical Titan Holding Bhd’s net profit for 3QFY21 ended Sept 30, 2021, plunged 87.22% QoQ to RM48.84 million due to higher feedstock costs. The group also declared a special single-tier dividend of 18 sen per share, payable on Nov 26.

  4. DHL Express is investing RM200 million to build its first fully auto-sort gateway at the Kuala Lumpur International Airport (KLIA), potentially its most significant investment in Malaysia to date.

    The gateway is designed for optimal shipment processing efficiency, including a high-speed dimensioning and weighing system — which is expected to handle 10,000 packages per hour, 24 hours a day.


5. AROUND THE WORLD 🌎

  1. Facebook has changed its corporate name to Meta, which means “beyond” in Greek. Mark Zuckerberg announced the new name as he unveiled plans to build a “metaverse.” He added the existing brand could not “possibly represent everything that we're doing today, let alone in the future”, and needed to change.

  2. LinkedIn is officially launching its Service Marketplace, a new feature that will let people advertise themselves for short-term engagements and freelance work, complementing its existing services that cater to permanent work recruitment. This means LinkedIn is competing against the likes of Fiverr and Upwork. 

    Service Marketplace was first leaked out as a small test in February and since then this beta service in the US has picked up 2 mil users from LinkedIn’s nearly 800 mil users globally. There will be 250 job categories during launch and will be expanded to 500 later on. 

  3. Billionaire hedge fund manager Dan Loeb revealed a stake in Royal Dutch Shell of roughly USD750 mil through firm Third Point, making it one of the hedge fund’s biggest holdings. Loeb proposed to break up the energy group into several companies with the legacy business prioritising on returning cash to shareholders and the energy-transition segment could invest aggressively in renewables. 

    “While daunting, there is perhaps no bigger ESG opportunity than in ‘Big Oil,’ and specifically, at Royal Dutch Shell,” Loeb noted.

    - Dan Loeb

  4. Robert Davis, CEO of Merck, said that it is ready to produce and distribute tens of millions of molnupiravir, its Covid-19 antiviral pills if given regulatory approval by the US FDA

    If approved, Molnupiravir would be the first approved Covid-19 treatment pill. Internal data indicated that the risk of hospitalisation or death from Covid-19 was cut in half with this pill. Patients take 4 pills twice a day or 5 days.

  5. Paytm, one of India’s most valuable startups, is seeking to raise as much as USD2.4 bil from its IPO that could value it at USD20 bil. A successful listing would make this digital payment company the biggest IPO in India, surpassing a record USD2.07 bil IPO by government-owned coal mining and refining firm Coal India 11 years ago. 

    The company, founded in 2009, is backed by Alibaba, Berkshire Hathaway and SoftBank among others. In the new filing, it disclosed that it clocked USD118 mil in revenue from its operations in the quarter ending June, up 62% from the prior quarter, with losses surging as well to USD50.9 mil.


6. FOR YOUR VIEWING PLEASURE 👁👁

  1. Furniture maker IKEA collaborates with ASUS’ Republic of Gamers (ROG) brand to produce a whole new series of gaming-focused furniture. It’ll be launched on Single Days — 11.11 in Malaysia. Come on, not all gamers are single!

  2. NASA's Perseverance Mars rover sent back new pictures after being offline for two weeks due to “solar conjunction” when Mars and Earth are opposite sides of the sun.

  3. Imagine Toy Story’s Buzz Lightyear as a PAS member.