☕️ Malaysia has lost 15% of its beaches due to coastal erosion

In collaboration with Me.reka. 

1. MARKET SUMMARY

2. NUMBERS AT A GLANCE

6 ether— the current highest bid for Sina Estavi’s NFT of Jack Dorsey’s first-ever tweet, which he paid USD2.9 million for. That’s only 0.6% of what Estavi paid for — no rug pull in this scenario, just a miscalculated investment.

47% — Argentina’s key interest rate, the benchmark Leliq rate. Argentina’s central bank has raised interest rates for the fourth time this year, boosting the effective annual rate, which accounts for compounded interest, to 58.7%. The rate is higher than the current annual inflation of 55.1%.

144 identical cuboids make up the Nakagin Capsule Tower, which stands out from its unremarkable neighbours in Tokyo’s Shimbashi district. The tower is a prime example of Metabolism, an influential architectural movement in post-war Japan.

3. COVID-19 SUMMARY

• Schools sessions have begun without a rotation system, like in the pre-Covid-19 days. This comes as over 1.4 million kids (39.5%) aged between five to 11 have received at least one dose of Covid-19 vaccination.

• Covid-19 subvariants BA.4 and BA.5 are being tracked by World Health Organisation (WHO). While they don’t appear more contagious or deadly than the original omicron mutation, the situation could change.

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4. IN MALAYSIA 🇲🇾

1. Sam Ke Ting, who was sentenced to 6 years in jail by the High Court over the “basikal lajak” accident, will have her appeal set to be heard today by the Court of Appeal. A simple breakdown in layman’s terms on what will transpire tomorrow in the hearing.Former PM Najib Razak’s “hotshot lawyer” Muhammad Shafee Abdullah has volunteered to represent her pro bono but has declined his offer and retained her lawyer. An ex-Mat Lajak did an Ask Me Anything session here.

2. Malaysia has a total shoreline of 8,840 km (Peninsular: 3,772 km, East Malaysia: 4,888 km). Over the last few decades, the nation has lost 15% of its beaches and 1,380 km of shoreline reclaimed by the sea. In peninsular, more than 30 beaches have experienced critical erosion and could be gone in the next 10 years. This was based on a study in 2015 — things could be a lot worse now. Critical erosion is defined as the coastline retreating at a rate of more than 4m a year, generally with dense human settlement and some commercial or industrial activities. 

3. The much anticipated Najib Razak vs Anwar Ibrahim debate is set for May 12, 9.00 pm and will take place at Dewan Tunku Chancellor, Universiti Malaya. The debate, which initially was to debate the troubled oil and gas company Sapura Energy Bhd will feature three main segments — the primary topic of Sapura Energy, other current affairs involving Malaysia and a Q&A session. The debate will be live-streamed. 

4. The fourth round of the Special Withdrawal facility by the EPF has received 5.3 mil applications (44% out of 11.95 mil eligible members), totalling RM40.1 bil as of 14 Apr. Disbursement to begin on 18 Apr. The deadline to apply for this facility is 30 Apr. 

5. Sime Darby Plantations Bhd (DSP) shared fell 5.47% on Friday amidst news that Italian confectionery giant Ferrero will stop sourcing palm oil from the company over allegations of forced labour. SDP has clarified that Ferrero is not its customer and has not been for a while. However, it confirmed that its direct customer Cargill has decided to suspend all new sourcing of palm oil and derivative products from it effective 25 Feb 2022. 

5. AROUND THE WORLD 🌎

1. Russia says its troops have cleared the urban area of the key city of Mariupol, the first major city to have fallen. Igor Konashenkov, the Russian defence ministry’s chief spokesman, asked the remaining fighters to surrender for their lives to be spared. The latest update on territories in Ukraine controlled by Russia:

2. Russia finally admitted its flagship cruiser Mokskva was attacked, but with the help of an unexpected ally — Space X's Starlink internet constellation. Russian Federation’s General Staff, Dmitry Medvedev, wants to destroy the Starlink satellite constellation located over Russian Federation territory — a literal space war.

3. Israeli police have entered the Al-Aqsa Mosque compound as worshippers gathered for early morning prayers yesterday, chasing Palestinians out of the sprawling esplanade outside the mosque while dozens remained inside. As a result, at least 158 Palestinians were injured. Far-right Jewish group Return to Temple Mount offered a cash prize to anyone who went into Al-Aqsa Mosque and sacrificed a goat — a ritual prohibited inside the mosque.

4. North Korean hackers were allegedly behind the attack on Axie Infinity's Ronin Network in March, where USD620 mil worth of crypto was stolen. North Korea’s hacking programme dates back to at least the mid-1990s and has grown to a 6,000-strong cyber warfare unit known as Bureau 121.

5. One day after Elon Musk made a USD43 bil offer to buy Twitter, its board armed itself against a possible hostile takeover with a “limited-duration shareholder rights plan”, also known as a “poison pill”. The plan prevents anyone from having more than a 15% stake in the company. Asset management firm Vanguard Group disclosed that its funds now own a 10.3% stake, making Musk the 2nd largest shareholder. Read more about “poison pill” here.

6. A state of disaster has been declared in the South African province of KwaZulu-Natal after devastating floods wreaked havoc in the area. The death toll has reached more than 300. Officials called it one of the worst storms in the country’s history. Durban is one of the busiest ports in Africa. The floods have hampered logistics activities in the port.

7. China’s central bank, in a surprise move, kept a key interest rate unchanged on Friday — its one-year medium-term loan intact at 2.85%. Many expected expansionary monetary policy as China grapples with a Covid surge. The mass lockdowns sparked predictions that its GDP growth would fall below the government’s target of 5.5% for this year.

6. FOR YOUR EYES 👁👁

1. This is how a starfish walks

2. The industrialisation of chicken