☕️ Budget 2021 Debates, no rep from Finance Ministry?

As 2021 Budget intensifies, no-show from Finance Ministry. Syed Saddiq moots taxing glove companies. Rapid Covid-19 testing results in 30 minutes is here.

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

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

1. NUMBERS AT A GLANCE

2,713 SMEs in Malaysia shuttered doors between March and October 2020 due to Covid-19. Let’s carry our duty and continue supporting local. 

USD 328 billion: Bitcoin’s highest market cap thus far, surpasses the $322.7 billion back in Dec 2017.

RM118,000: Cik B’s outfit is more than an average Malaysia’s annual pay. When your mum is Datuk Seri Vida, what’s RM118K?

10,000 doses of Covid-19 vaccine will be donated to frontliners in Malaysia, by Sinopharm.

2. COVID-19 SUMMARY

3. IN MALAYSIA

  1. Deputy Speaker Azalina Othman Said chides finance minister, deputies for not attending budget debates. Too busy biking?

  2. Times are not as bad as it seems, car sales are up 5.2% y-o-y to 56,670 in Oct 20. Majority may have been contributed by the Proton X50 since there are more than 20k bookings made.

  3. Young blood but old trick, Syed Saddiq is suggesting glove makers who have earned “extraordinary profits” should pay windfall tax. If you are not done with the glove fever, you might want to rethink your position again.

  4. Petronas is planning to diversify its portfolio of stocks. It owns 5 Bursa-listed entities with combined market cap of USD22.8bn. As the Malaysian government cash-call increases, and oil prices aren’t holding up, selling your priced collection is the only way.

4. AROUND THE WORLD

  1. Another IPO in the pipeline. Robinhood, a trading app built for milenials, is gearing up for a 2021 IPO. Current valuation: USD12bn.

  2. Softbank CEO Masayoshi Son revealed he made a pass to investing in Amazon before its IPO . Son was seeking for a 30% stake at a USD300mil valuation, but Jeff Bezos wanted a valuation of USD350mil. Amazon’s market cap today: USD1.57tril, 448,571x from Bezos’ desired valuation.

  3. 20-months safety review after 2 fatal crashes, Boeing 737 Max is cleared to fly by regulator. Would you fly in it though?

  4. Rapid Covid-19 testing returning results in 30 minutes made by Lucira Health has been approved by FDA.

  5. Global debt to soar to USD277tril (trillion with a t) as government fights Covid-19 according to Institute of International Finance. Who’s going to foot the bill?

5. MARKET SUMMARY

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