☕️ Hello Covid-19, H5N8 is here
Record Alibaba Singles Day sales, Dego (Gojek of Malaysia) vs Vincent Tan, and yet another public company entering glove making...
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1. MARKET SUMMARY
2. COVID-19 SUMMARY
3. NUMBERS AT A GLANCE
RM69.7mil - Another round of sharebuyback by Topglove, 3rd consecutive day
15% - SJKC students comprising of Malays
USD74bil - Alibaba’s Singles Day sales.
2.97 billion - Packaged to be delivered from Alibaba’s Single Days
4. EARNINGS SUMMARY
5. IN MALAYSIA
Tengku Adnan (aka Ku Nan) graft case to be decided on 21 Dec. Based on previous trends and our current political climate, will he walk away a free man or gets convicted?
Another day, another public listed company entering into glove production. Salcon, a water and wastewater engineering firm, is forking out RM28.6mil to acquire a 51% glove manufacturing company at a valuation of RM56mil which has a production capacity of 336 million gloves.
This deal will come with a profit guarantee of RM10mil a year for 3 years. PE ratio? About 6x, a real bargain compared to the valuation of other listed glove players. This begs the question - who is getting the ‘real’ deal? With such bright, multi-year prospects, why would one undersell their company? Hmmm...
Dego, suppossedly the Gojek of Malaysia, is getting sued by its investors, Vincent Tan (yes, that Vincent Tan of Berjaya) through his listed entity, 7-Eleven Malaysia. Vincent & Co invested RM7.5mil for close to 50% of the company. Could he have made a unicorn out of Dego like he did with Facebook?
RM100mil have been raised through equity crowdfunding (ECF) on pitchIN thus far since 2016 for 74 companies, and from >5,000 investors. ECF, for the uninitiated, is like IPO but for early stage companies whose likelihood of failure is extremely high and lacking the liquidity for investors to sell their shares. Cumulatively, ECF in Malaysia has raised RM175mil to date. pitchIN’s market share, based on the amount raised would be 57%.
6. AROUND THE WORLD
Pfizer vaccine news wearing off. Markets reversing its bull charge, and taking aturn. Reality sinks in. Vaccine to the masses is still a long way more.
At the height of the pandemic, BIllionaire hedge funder Bill Ackman of Pershing Square made a killer return - turning USD26mil to USD2.6bn, a 100x return over a ew months. He’s repeating the same move again, buying a financial instrument that acts like an insurance against loan defaults.
TechIPO flurry before the year ends: Airbnb (Valuation: USD26bn), DoorDash (Valuation: USD16bn) , Wish (Valuation: USD4bn) and Roblox (Valuation: USD11.2bn)
Ray Dalio, billionaire that runs the biggest hedge fund in the world opines that not investing in China is ‘very risky’.
Goldman Sachsfound that companies with more women in management and board positions outperformed their more male-led counterparts. Their share price outperformed on average by 2.5% a year compared to companies with fewer women leaders.
Bitcoin broke USD16,000 since Jan 2018. No, Bitcoin is not dead, alive and stronger. It’s up 4x since the global market selloff in Mar 2020.
Know more, learn more - we hope this newsletter helped with that!
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