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☕️ Instead of declaring her assets, Tun Daim's wife quoted Shakespeare
Water cuts in Penang, again. Over 44k tonnes of kimchi exported in 2023, all-time high. MrBeast made USD263k from a video posted on X.
The Coffee Break
January 24, 2024
1. MARKET SUMMARY 📈
Information as of 0720 UTC+8 on Jan 24, 2024.
2. NUMBERS AT A GLANCE 🔢
The East Coast Rail Link (ECRL) awarded RM13.64 bil to local contractors, consultants, and suppliers, exceeding the target of RM10.8 bil. Of that amount, RM2.66 bil or 76.07% of the target of RM3.50 bil was awarded to Bumiputera contractors, consultants, and suppliers as of Nov 30th last year. Malaysia Rail Link Sdn Bhd (MRL) released a statement to address recent claims made by Persatuan Kontraktor Melayu Malaysia (PKMM) in a Malay-language newspaper. PKMM suggested that the contract value figures for the civil works of the ECRL project awarded to Bumiputera contractors, consultants, and suppliers were questionable.
Despite the fact that gambling giant Bet365 reported a significant loss, the company's boss, Denise Coates, received a salary of around GBP221 mil (RM1.32 bil) during its last financial year — that’s a salary of RM3.62 mil a day! This figure represents an increase of GBP7 mil from the previous year. As the founder and joint chief executive of the online gambling company, Ms Coates is also likely to have received at least GBP50 mil in dividends. Ms Coates's pay increase means her total salary over the past four years has exceeded GBP1 bil. Coates owns about 57% of the firm.
44,041 tonnes — that's the total amount of outbound shipments of kimchi in 2023, which is a new all-time high. This increase was due to the growing popularity of K-entertainment. According to data compiled by the Korea Customs Service, this surge in exports represents a 7.1% increase from the previous year, exceeding the previous record set in 2021 when export volume hit 42,544 tonnes. In monetary terms, the traditional Korean side dish made from fermented cabbage brought in USD155.6 mil in 2023, up 10.5% from 2022, as reported by Korean news outlet Yonhap. Here’s the irony — South Korea actually imports more kimchi than its exports in monetary terms, worth USD163.5 mil, mainly from China due to high production costs in domestic markets.