☕️ Using the Rakyat's own money to help the Rakyat
The Obamas' lucrative book deal, 24 Fortune 500 CEOs secret meeting if Trump doesn't concede
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1. MARKET SUMMARY
2. COVID-19 SUMMARY
3. NUMBERS AT A GLANCE
73mil: Number of Disney+ subscribers. A year ago? Zero.
USD60mil: The estimated amount Mr and Mrs Obama, former First Couple of US are getting paid for the rights to their books.
USD26.7mil: The largest purple-pink diamond sold at an auction
4. IN MALAYSIA
In times of trouble, the government is here to help the rakyat - by using the rakyat’s own money. EPF to announce details for Account 1 withdrawal on Nov 18.
The long awaited JAKS Resources Bhd power plant in Vietnam is set to be operating soon. The 1,200 MW power plant is estimated to generate USD600-700mil a year in revenue. JAKS owning 30% of it, will see a potential revenue of at least RM720mil per annum, with an option to increase its stake by another 10%. Its current market cap now - RM1.04bn.
When you can’t take passengers to the skies, you deliver food to them on the ground. Tony Fernades delivering AirAsia Food as seen on his instagram.
Unusual trading volume seen in AT Systematization Bhd. 10.85 billion shares changed hands last week accounting for 16% of Bursa’ total weekly volume of 67.64bil shares. AT is not too big a company with a market cap of RM830mil. According to market observers, photos of a major investor, Koon Yew Yin, visiting AT’s factory and his subsequent writeups on this counter contributed to the surge in volume and price of AT.
Fake news has been spreading that Old Town, a halal certified chain of restaurants, served pork. Investigations made by authority concluded that the allegations were false.
5. AROUND THE WORLD
A secret meeting attended by 24 CEOs of Fortune 500 was held to discuss their actions should Trump refuses to leave the office.
Jack Ma seems to be in real trouble. Xi Jinping himself scuttled the IPO of Ant Financial. In China, don’t be too vocal against the government..
Jokowi, President of Indonesia, is to send a high-level team to US to meet Tesla’s top executives to set up battery manufacturing facilities in Indonesia. What is Malaysia doing for EV in our domestic market, and also for the environment? We don’t need flying cars, when our nation couldn’t even get the basics right for EV and green infrastructure.
DoorDash IPO filling: USD1.9bn revenue, USD149mil losses, 18 mil customers, 390,000 merchants.
Individuals have suffered. Companies have suffered. Covid-19 next victim - a sovereign nation, Zambia. Owing USD12bn to bondholders, Zambia would be Africa’s first sovereign default.
Meet the Bidens: Joe, Jill (wife), Hunter (son) and Ashley (daughter). A quick background read on the new First Family.
The Return of Trump, POTUS 2024? Are there no other candidates the Republicans can field for the presidency?
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