☕️ Kelantan Deputy Mentri Besar: tigers entered villages not due to loss of habit, but contracted a disease rendering it unable to hunt
TNG soon to lose highway monopoly, all digital payments provider accepted. IMF warns El Salvador on its Bitcoin legal tender risk. Facebook digital currency Diem to close shop, sell assets.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
Shell’s carbon capture facility meant to reduce the emissions of hydrogen production in Canada released 7.5 mil metric tons of greenhouse gases since 2015, more than the 5 mil tons of carbon dioxide it captured, according to an investigation by watchdog group Global Witness.
RM180 mil is lost per annum in Sabah due because of water thieves! How do you steal water? Illegal connections — usually found in squatter areas as well as on state reserve land.
The world’s 10 richest people lost USD135 bil in net worth following the sell-off in stocks this month. On the other hand, Warren Buffett’s wealth has grown this year — increased by USD1.4 billion to USD110 billion as of Monday's close. On another note, Berkshire Hathaway said its annual shareholders’ meeting would be held in person on Apr 30 after two years.
3. COVID-19 SUMMARY
People (above 18 years old) in Klang Valley who have yet to get their booster dose can walk in at these PPVs effective today — WTC, Axiata Arena, IDCC & Soka Gakkai.
Health Minister Khairy Jamaluddin said the Omicron wave has started in Malaysia and he expects the number of cases to rise. However, he said the situation is under control as the country has a high vaccination rate.
China’s first Covid-19 vaccine using mRNA technology triggers an immune response in 95% of recipients with no severe adverse reaction reported in the first stage of the trial. Neutralising antibodies were found among 80% to 95% of the participants who took two vaccine doses.
4. IN MALAYSIA 🇲🇾
The Kelantan government says the perception of illegal logging leading to tigers entering the Orang Asli villages in Gua Musang is wrong, Kelantan Deputy Mentri Besar Mohd Amar Nik Abdullah was quoted by Sinar Harian that it wasn’t the loss of habitat that caused the tigers to enter the village, but due to the tigers contracting a disease that rendered them unable to hunt as they normally do according to a statement by Kelantan Perhilitan, he said. We tried finding the statement but to no avail. Do shoot it to us if you find it.
However, in an interview with Kelantan Wildlife and National Parks Department director Mohamad Hafid Rohani with regards to the incident of an Orang Asli man being mauled to death by a tiger in Gua Musang on 7 Jan, he said a tiger would not normally attack humans as it is not in their nature but will run away when it is in conflict with humans or smells them and will only attack when they are being hunted and when they lose their natural habitat and food sources. Nowhere in the interview was there any mention of the disease.
Works Minister Fadillah Yusof said that motorists will be able to use any digital payment provider (debit/credit cards, Visa/Mastercard) to pay highway tolls, which will effectively end Touch n’ Go’s monopoly, however, it will depend on RFID adoption reaching a satisfactory rate as the execution will be done through a single RFID tag.
Highway concessionaires have been told to prepare for the implementation of the multi-lane free flor (MLFF) system by 2025, which is a barrier-free tolling system, doing away with toll booths and dedicated lanes (Singapore has been doing this for decades). Touch n’ Go cards and SmartTag lanes will be retired in 2025.
PKR will be using its logo in the upcoming Johor state elections due to “overwhelming” requests to do so from the party’s grassroots and supporters. Nik Nazmi, PKR organising secretary, said that the Pakatan Harapan logo had become a symbol of an era that included the downfall of the PH government.
PH’s remaining coalition members DAP and Amanah, will use the PH coalition logo. PH chairman and PKR president made this announcement and said that the decision was made on consensus during PH’s presidential council meeting.
Sorry KL folks - a screenshot that went viral declaring 3 Feb a public holiday in the Federal Territories is fake news, says the PM’s Department (JPM).
Tune Protect Group Bhd has an entrenched perception by the market that it is heavily reliant on AirAsia Group Bhd’s business. During an investor briefing yesterday, group CEO Rohit Chandrasekharan Nambiar made several points to dispel concerns over the impact that AirAsia’s business may have on the group’s performance:
AirAsia accounts for 3-4% of its revenue.
AirAsia, through AirAsia Digital, owns a little more than 13% of the insurer
Outstanding payments from AirAsia is at a very healthy level and they have been paying.
The insurer has been building its business in the Middle East, Vietnam, Cambodia and has struck many partnerships, diversifying away from its reliance on AirAsia.
Seen from a different light, AirAsia’s business rebounding would be a huge opportunity for Tune Protect.
Disclosure: We have a significant position in Tune Protect. It’s by far the rare listed company in the market offering a very favourable risk-adjusted return. Its core business performed decently even at the height of the pandemic. Not financial advice.
Perusahaan Otomobil Kedua Sdn Bhd (Perodua) has earmarked capex of RM1.33 bil for the improvement of its plants and the development of new model:
RM529.1 mil will go to developing the carmaker’s new model. Perodua current capability is 2 minor change models and one full model change per year.
RM321.1 mil will be utilised for the improvement of the production capacity of its manufacturing plant. It wants to improve takt time (not typo - takt time is the rate needed to complete a product to meet customer demand) from 1.45 in 2021 to 1.35 in 2022.
RM381.3 mil to go to buildings, land and roads
RM49.3 mil on R&D enhancement
RM45.6 mil on digitalisation
5. AROUND THE WORLD 🌎
The International Monetary Fund (IMF) warned El Salvador’s President Nayib (pronounced ‘Najib’) Bukele of the risks the cryptocurrency poses to the country. In a bid to ask the country to reverse its decision to make Bitcoin legal tender, the IMF said it could be difficult to get a loan from the institution. The value of Bitcoin has dropped drastically since El Salvador announced its plans to build Bitcoin City.
President Nayib’s response to IMF - in the meme below by the President himself.
Eleven government agencies ranging from the central bank to customs authorities in China will start a nationwide crackdown on money laundering from 2022 to 2024. The People’s Bank of China (PBOC) said authorities would adopt a national risk prevention system against money laundering, improve relevant laws and regulations, and enhance analysis and investigation of money laundering.
Jidu, an electric carmaking company founded by search giant Baidu and its Chinese auto partner Geely has raised USD400 mil in a Series A funding round. The proceeds will speed up Jidu’s R&D and mass production process and allow it to showcase its first concept “robocar” — at the Beijing auto show in April. Mass production is slated to happen in 2023.
Cryptocurrency exchange FTX US has attained the USD8 bil valuation on Wednesday after raising USD400 million in its first funding round from investors, including Japan's SoftBank Group Corp and Singapore's Temasek Holdings. The exchange is on its way to becoming one of the biggest cryptocurrency exchanges. FTX US had an average daily volume of about USD360 million in the third quarter of 2021, according to the company. The funds will be used to grow its user base and launch new business lines.
Facebook-backed digital currency project Diem may sell its assets due to regulatory pressure. Bloomberg reported the venture wants to repay investors. Meta is speaking to investment banks about selling Diem’s intellectual property and redeeming any remaining value. Bitcoin advocate Jack Dorsey took a swipe at it.
The Federal Open Market Committee (FOMC) did not raise rates on Wednesday. The US Federal Reserve chairman Jerome Powell indicated it could soon raise interest rates in March to tackle the persistent inflation in the US. He is confident the bank could take action without hurting the recovery.
The US could slap personal sanctions on Vladimir Putin if Russia invades Ukraine. US President Joe Biden wants to prevent the situation from escalating as he said there would be "enormous consequences" for the world if Russia made a move on the nation. Dmitry Peskov, a spokesman for Mr Putin, said such sanctions would be “politically destructive”.
The world’s biggest producer of Atlantic salmon (466,000 tons p.a.), Mowi ASA wants to buy competitor NTS ASA via a 50:50 cash and shares deal, valued at USD1.55 bil. The acquisition would add another 84,000 metric tons to Mowi's existing harvest. Conditions in the fjords are difficult to replicate outside of the region, making the Atlantic salmon one of Norway's top exports.
The European Commission penalised Intel in 2009 for trying to block rival Advanced Micro Devices (AMD) by giving rebates to computer makers for buying most of their chips from Intel. Intel was fined USD1.2 bil back then, but the Luxembourg-based General Court, Europe's second-highest, criticised the EU competition enforcer's analysis and annulled the fine. Intel’s victory is likely cheered by Alphabet, Apple, Amazon and Facebook, who are all in the EU antitrust enforcer's crosshairs.
Tesla Inc. reported a 65% increase in revenue YoY for its Q4FY2021 of USD17.762 bil, beating analysts’ estimate of USD16.57 bil. Net income remained healthy at USD2.32 billion. Elon Musk revealed in the company’s earnings call that the company would not introduce any new models this year as supply chain issues remain a limiting factor.
6. FOR YOUR VIEWING PLEASURE 👁👁
Another awesome artwork by @kuasasiswa featuring a character that looks like Tony the Tiger of Kellogg’s
Japan, a place where most of love to travel to, seems to be a difficult place to live in due to the ‘cultural iceberg’.
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