Discover more from The Coffee Break
☕️ 100,000+ IP addresses suspected of sharing child pornography
YDPA: Power to punish, pardon should not be used arbitrarily, will be held accountable in "afterlife". Najib's son, Nizar, compared dad's struggles to Nelson Mandela. UK's new woman PM - Liz Truss.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
RM620,000 worth of decorative plants near Dataran Merdeka were damaged during the National Day parade on 31 Aug as attendees trampled on the plants. Third-world mentality on display after more than 60 years of independence.
6.8 mil Venezuelans have left their homeland since an economic crisis broke out in 2014, with most leaving for nearby nations in Latin America (2.4 mil left for Colombia) and the Caribbean. This is a huge exodus considering the population of the country is 28 mil people. The situation could have been worse if it wasn’t for the pandemic that complicated travel across the region.
106,764 IP addresses have been recorded by the Royal Malaysian Police involved in sharing child pornography from 2017 until August this year according to Women, Family and Community Development Minister Rina Harun.
3. IN MALAYSIA 🇲🇾
Najib Razak applied for a royal pardon, still the Pekan MP
Jailed former PM Najib Razak is still the Pekan MP as a decision has not yet been made on his royal pardon application, as confirmed by Dewan Rakyat Speaker Azhar Harun. In a separate event, Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah reminded his subjects that the power to punish and pardon should not be used arbitrarily, as ‘it will be held accountable in the afterlife’.
Strong words from His Majesty on the matter of pardon, that may be indirectly directed towards Najib Razak. Talking about the former premier, his son, Mohd Nizar Najib, has equated his father's experience with the likes of Nelson Mandela and Prophet Yusof in the Al-Quran. Quoting Nizar’s words, ‘this is may be Allah’s way to uplift the dignity of his father’.
We point out the differences between Mandela vs Najib:
Mandela was jailed for 27 years in his fight to end apartheid and inspired people around the world.
Najib stole millions and possibly billions, getting investigated by authorities around the world.
Let's see how the dynamic trio (Najib, Zahid and Azeez) fare in court, featuring:
The first trio – Najib Razak
After being admitted to the hospital for potentially gastrointestinal issues, Najib Razak appeared at the court for his RM2.28bil alleged misappropriation of 1MDB funds trial. During the trial, the prosecution witness and former deputy secretary-general (policy) of the Finance Ministry, Siti Zauyah’s statement that she could not recall the specific matters related to 1MDB has led to the frustrations of both Najib Razak and his wife, Rosmah Mansor, who was also present in the courtroom.
The second trio – Zahid Hamidi
During Zahid’s Ultra Kirana corruption trial, the prosecution has stated that there are enough shreds of evidence that Zahid Hamidi kept the funds that he received from Ultra Kirana for himself and that the money received is not a political donation. Among the points raised by the prosecution are that the money had never been put in UMNO’s account and the delivery of the funds always occurred at Zahid’s private and official residences. Zahid is accused to received bribes from Ultra Kirana to the tune of SGD13.56mil.
The third trio – Abdul Azeez
Former Tabung Haji’s chairman, Abdul Azeez, failed in his attempt to strike out his corruption and money laundering charges in relation to road projects in Perak and Kedah. Abdul Azeez needs to stand trial for all three of his corruption charges but four out of ten of his money laundering charges were dropped by the three-member panel of the Court of Appeal, citing ambiguity of the charges and discrepancies of evidence stacked against him.
Selangor Government to proceed with de-gazetting forest reserve status
The Selangor Government is set to proceed and complete the de-gazettement of certain parts of the Bukit Cherakah forest reserve in order to avoid legal suits from private companies with interests in the area. However, like offering candy to a disgruntled kid, Selangor MB, Amirudin Shari said that the Shah Alam will prevent any companies linked to the state from developing the area unless for public interest purposes, such as the construction of roads or cemeteries.
Bank Negara Malaysia has greenlighted Sapura Energy’s application for the central bank to mediate the company’s debt restructuring negotiations with its multicurrency facilities (MCF) financiers. The restructuring also includes an RM10bil multi-currency Sukuk program.
The PN17 company, Capital A Berhad, is en route to list AirAsia Aviation Group and its Super App in New York. The company will make the appropriate announcement in due course, possibly next year.
The global logistics giant Maersk is taking its money away from war-hungry Russia and putting it into Malaysia, among others, in order to establish Malaysia as one of the logistics hubs in Southeast Asia. Maersk has reportedly signed a memorandum of understanding with the Malaysian Investment Development Authority (MIDA).
KLIA will finally get new aerotrains to replace the current 24-year-old system. However, the public needs to wait until 2025 for the new system to be operational. In the meantime, the airport operator will enhance the bus services in order to minimise any inconveniences experienced by the public travelling between the main terminal to the satellite buildings.
4. AROUND THE WORLD 🌎
Introducing UK’s new PM - Liz Truss
Foreign secretary Liz Truss defeated closest rival Rishi Sunak to become UK’s prime minister. The newly elected PM will take on the daunting task of correcting decade-high inflation, fixing the NHS and tackling soaring energy crisis. Truss plans to scrap a 1.25 percentage point uplift in National Insurance, a payroll tax, and slashing green levies from energy bills, saving an annual GBP150 per household. Though no specifics have been given yet. The pound did not react much upon the announcement and remains at decade lows.
Read up here on Truss’ background.
Apple’s “Far Out” Event - what to expect
Apple’s annual event on September 8 dubbed “Far Out” will see the release of new products including the iPhone 14 Pro, Airpods Pro and Apple Watch Pro.
iPhone 14 Pro is poised to get a faster A16 chip and a 48-megapixel rear wide-angle camera system. While Apple makes 50% of its revenue from iPhone sales, the actual percentage is far higher due to sales of auxiliary items within the ecosystem such as the Airpods and Apple Watch. Both generate a combined 10% revenues.
Apple Watch Pro is set to compete with Garmin’s high-end market. The product is aimed at heavy-duty athletes like mountain bikers, hikers and marathon runners. While Apple only holds about 36% of the smartwatch market, Garmin is currently leading the market share for high-end smart watches. This could change with the launch of Apple Watch Pro.
Oil producer group OPEC+ surprises with a production cut, causing Brent crude prices to jump by nearly 3%. The group plans to cut production targets by about 100,000 barrels per day starting October. The announcement comes amid a bitter and escalating energy dispute between Russia and the West, with many in Europe deeply concerned about the prospect of recession and a winter gas shortage.
Meta CEO Mark Zuckerberg thinks social media is best used to communicate rather than mindlessly scrolling. Says the person whose main goal is to keep users on the platform for as long as possible.
Suicide bomber kills 6 in Kabul, Afghanistan. The incident took place at the Russian embassy in Kabul where an unknown militant set off an explosive device near the entrance to the consular section.
5. FOR YOUR EYES 👁👁
An amusement ride turned into horror in Mohali, Punjab, as the “Spinning Swing” crashed into the ground from 50 feet above the ground, injuring 16 people.
Interesting cooking video, but creepy - stop-motion animation used to show how raw ingredients turned into what looks like meatballs.