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  • ☕️ Naijb Razak pulls a Muhyiddin - Diarrhoea, but without PDF

☕️ Naijb Razak pulls a Muhyiddin - Diarrhoea, but without PDF

MACC to charge 'Casio King' tycoon in RM4.5 bil govt. vehicle contract case. Tesla quarterly deliveries drop for first time in 4 years. USD13K to have your ashes cremated on the moon.


Information as of 0720 UTC+8 on Apr 3, 2024.


In 2023, corporate dividends globally reached a historical peak of USD1.66 trillion (~RM7.7 trillion), with a notable contribution from record payouts by banks, comprising half of the growth. The quarterly Janus Henderson Global Dividend Index (JHGDI) report (view here) revealed that 86% of listed companies worldwide either increased or maintained their dividends. Projections indicate that dividend payouts are expected to climb further, reaching a new record of USD1.72 trillion this year. Among the top dividend payers in 2023 were Microsoft, Apple, and Exxon Mobil.

USD13,000 (RM61.5k) — the price to pay to have Celestis Memorial Spaceflights send your cremated ashes to the moon. If you think that’s too steep, there is even a subscription option of USD99 per month until you pay it off. Celestis's first spaceflight in 1997 carried five passengers, including the remains of Star Trek's screenwriter. In the 25 years since they have sent 2,300 capsules into orbit. However, one party isn’t happy about these spaceflights — the Navajo Nation. The Native Americans treat the moon as sacred and death as taboo, saying that the two shouldn’t mix.

In 2023, international patent filings experienced a decline for the first time in 14 years, attributed to factors such as higher interest rates and economic uncertainty, as highlighted by the United Nations’ World Intellectual Property Organization (WIPO) on March 7. The total number of international patents filed globally amounted to 272,600, marking a 1.8% decline compared to the previous year. Despite this overall decrease, India stood out with significant growth, recording a surge of 44.6% in international patent filings to reach 3,791 filings. Topping the ranking is China with 69,610 filings (25.5%), followed by the US with 55,678 filings (20.4%).

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Tabung Haji: Profits & Assets

  1. 3.1% profit distribution after zakat for FY2023

    Lembaga Tabung Haji (TH) declared a profit distribution of 3.1% after zakat for FY2023, maintaining the same rate for four consecutive years. For 2023, RM2.72 bil is to be distributed to 9.15 mil Tabung Haji depositors; RM2.64 bil was distributed to 8.8 mil depositors in 2022. TH also declared a zakat of 2.57% for FY2023, amounting to a total zakat payment of RM101 mil. TH’s total assets under management amounted to RM93.6 bil while its fund size at RM89 bil. Performance was driven by shariah-compliant investments in fixed-income instruments, namely sukuk – generating 52% of total income and 24% contributed by equity investments.

  2. Early discussions to reclaim assets acquired by govt in 2018

    TH is in the ‘‘early discussion stage” with the Government to reclaim its assets, which were acquired by the Government at a premium in 2018 through Urusharta Jamaah Sdn Bhd (UJSB). UJSB, established under the Ministry of Finance (MOF), took over underperforming assets from TH in 2018 – the assets valued at approximately RM9.7 bil at the time. The Auditor General’s Report stated that UJSB paid RM19.6 bil, raised through two sukuk issued in 2019, with an additional RM300 mil in cash to TH. Among the assets acquired, 80% were equities and 20% comprised properties.

Another tycoon bites the dust
According to The Edge Malaysia, the Malaysian Anti-Corruption Commission (MACC) has obtained permission to charge Tan Sri Robert Tan Hua Choon, also known as ‘Casio King’, concerning the RM4.5 bil government fleet project involving Spanco Sdn Bhd. While details of the charges are unreleased, Tan is set to be charged in one of KL’s specialised Sessions Court that hears corruption cases. In January, MACC raided the home of a corporate figure and seized several assets under his control, and though the name was not revealed, the individual is known to be a major shareholder of Spanco. ‘Casio King’ is the first and only distributor of the brand’s watches and calculators in Malaysia, hence the name.

Another tycoon is also involved but on the opposite side. Berjaya Group founder Vincent Tan sued the government and Spanco Sdn Bhd, claiming that his consortium (49:51 between Berjaya and Naza) was unfairly terminated, although a Letter of Intent was issued in 2018. The contract involves the management of 12,500 government vehicles worth an estimated RM300 mil annually (RM24k on average per vehicle) starting after the fifth year.

Johor Plantations Group to be listed on Bursa
Upstream oil palm plantation company Johor Plantations Group Bhd (JPG), formerly Johor Plantations Bhd, obtained the Securities Commission Malaysia’s (SC) approval to be listed on the Main Market of Bursa Malaysia Securities Bhd. The share price and valuation are yet to be determined at this point in time. Currently an upstream player, the company aims to expand into the downstream business and diversify its product offerings to include specialty oils and fats for food production, which it expects will generate positive shareholder value. The company recorded revenue of RM1.75 bil in its financial year ended Dec 2022 and a corresponding net profit of RM495 mil. View JPG’s prospectus here.
Learn: What is upstream and downstream

Source: Prospectus - Financial Information

ROS approves Bersatu’s constitutional amendments, effective April 1
The Registrar of Societies (ROS) has approved Bersatu’s constitution amendment application, according to Bersatu Youth chief Wan Fayhsal. The amendment is aimed at preventing its members from ‘jumping ship’ as they seek to vacate the six parliamentary seats held by its members who declared support for PM Anwar Ibrahim. Under the amended party rule, any Bersatu member who switches allegiance will have their membership revoked. However, Labuan MP Suhaili Abdul Rahman is confident that the approved amendment will not affect him as a federal lawmaker, as with the other five defectors. He states that ROS’s statement declares that the new constitution is effective from April 1, and is not retrospective – thus making by-elections unlikely. Looks like it’s too little too late for Bersatu’s six seats.


  1. All praises for squash star S. Sivasangari

    Malaysians are once again reunited in a patriotic mood as S. Sivasangari wins the London Classic, a defining moment of her professional squash career. The feat was last accomplished by Datuk Nicol Ann David in 2015. To more victories for our soon-to-be world champion!

  2. Former PM Najib Razak’s trial ends early thanks to diarrhoea, while Switzerland’s 1MDB trial opens

    Najib was declared unfit to resume the RM2.7 bil 1MDB corruption trial as he was diagnosed with diarrhoea. The trial is set to proceed at 9 AM today. What other postponing tricks will he get out of the bag? Meanwhile, the trial for Tarek Obaid and Patrick Mahony, accused of embezzling USD1.8 bil from 1MDB, has just opened in Switzerland. They will plead not guilty to the charges of misappropriating at least USD1.8 bil transferred by 1MDB and laundering the amounts involved; essentially fraud on a commercial basis, aggravated criminal mismanagement, and aggravated money laundering. Former PM Muhyiddin Yassin’s infamous diarrhoea announcement - view this historical modern artefact here.

  3. Security details for Agong and PM to be enhanced after six firearms were discovered on detained Israeli

    The inspector-general of police (IPG) stated that security for the Agong and PM may be enhanced after discovering six firearms in the possession of the detained Israeli. The weapons were obtained in Thailand before entering Malaysia illegally. The number of firearms is alarming even with the professed aim of assassination; why would one job require six guns? The authorities are seeking two more individuals related to the Israeli’s arrest.

  4. Govt institutions to use imported white rice instead of local rice

    PM Anwar Ibrahim stated that government institutions such as the military, police, schools, hostels, and hospitals are to use imported white rice instead of local rice. His logic is that the rakyat will now have a sufficient supply of local rice and can purchase cheaper goods. But this initiative seems counter-intuitive, no? Isn’t it akin to using taxpayers’ money to purchase more expensive rice for Government sectors?


Unhinged Israel - killing aid workers, banning media, blowing up embassy
Israel comes under further international flak after it was found that an Israeli airstrike killed seven members of a World Central Kitchen convoy, a Palestinian driver and six international aid workers. The aid group confirmed it was a targeted attack in a “deconflicted zone”, with the team travelling in two armoured cars and a soft-skin vehicle with WCK logos. It will be immediately suspending operations in the region. WCK has called this an attack on humanitarian organisations and deems it unforgivable. A spokesperson from the Israeli military stated that there will be an investigation by “an independent, professional, and expert body” into the “tragic incident”.

Meanwhile, the Israeli parliament has overwhelmingly backed legislation which allows the government to order the closure of foreign media networks operating in Israel and even confiscate equipment if they believe the content produced could pose “harm to the state’s security”. Upon the legislation’s approval, Israeli Prime Minister Benjamin Netanyahu immediately stated his intent to bring the law to bear against Al Jazeera, with the media network denouncing the move as a “frantic campaign” made of “dangerous and ludicrous lies”.

The law also works in tandem with Israel’s current ban on foreign media outlets entering Gaza, forcing them to report from Tel Aviv, Jerusalem, or southern Israel. This has been called out by critics, who also pointed out that killing journalists and censoring media kills any credibility Israel may have left. To date, at least 90 Palestinian journalists have been killed since the October 7 attack, along with two Israelis and three Lebanese.

Iran has also vowed revenge against Israel for an airstrike on the Iranian embassy compound in Damascus, Syria. The attack killed two of Iran’s top generals and five other military advisors, along with seven members of Iran’s Revolutionary Guards. Security sources in Lebanon also revealed that at least one Hezbollah member was also killed in the strike.

Business matters

  1. Tesla quarterly deliveries drop for first time in 4 years, still takes back top EV seller title from BYD

    Tesla posted a quarterly fall in deliveries for the first quarter of 2024, with 386,810 vehicles delivered, down 20.2% from the previous quarter. This marks the first drop in quarterly deliveries for Tesla in almost four years, with the news leading to a 5.7% drop in Tesla shares. The firm attributed the drop in volume to its efforts to prepare its Fremont, California factory to increase production of its updated Model 3, along with shutdowns at its Berlin plant due to shipping diversions caused by the Red Sea conflict. Still, Tesla managed to retake the title of the world’s biggest EV seller from its Chinese competitor BYD. The Chinese firm reported a quarterly sales drop of 43% for the first quarter of 2024.

  2. Carousell acquires Singapore luxury bag reseller

    Singaporean e-commerce platform Carousell acquired luxury bag reseller LuxLexicon to tap into the luxury segment, stating it has seen a surge in its high-end bag listings over the last two years. The deal size was not disclosed. The luxury segment has also been a key focus category for Carousell since last year, as it aims to take a slice of the pie that is the luxury resale sector in Southeast Asia, Hong Kong, and Taiwan, which is expected to hit a market value of USD7.5 bil by 2026.


  1. Diabetes patients to be offered artificial pancreas technology
    Tens of thousands of people with Type 1 diabetes in England are to be offered an artificial pancreas to help manage the condition. The technology uses a glucose sensor under the skin to automatically calculate how much insulin is delivered via a pump. The National Health Service will start contacting adults and children who could benefit from the technology but warned that it could take five years before everyone eligible has the opportunity to have one due to challenges in sourcing the devices.
    Learn: Difference between Type 1 vs Type 2 diabetes

  2. Adidas bans Number 44 on German soccer team jerseys
    Fans will not be able to customise their German soccer team jerseys with the number 44. The number 44, coupled with the font and design of the jersey, resembles the double lightning bolts in the flag of the Schutzstaffel, the paramilitary guard under Adolf Hitler, also known as the SS, leading to the ban. 
    View: Adidas’s 44 vs Nazi’s SS

  3. Taylor Swift, Sam Altman, join Forbes Billionaires List
    The singer entered the list for the first time with USD1.1 bil, while the ChatGPT creator joined with USD1 bil, with the duo joining an exclusive club of 2,781 billionaires worldwide in 2024. Forbes revealed that the collective wealth of those on the list totalled about USD14.2 trillion.


  1. There is always a huge price to pay for development and growth — pollution. Air quality is a big problem in India. A recent report from IQAir, a company that monitors air pollution, showed that 83 out of the 100 most polluted cities in the world are in India (the percentage is simple here - 83%). Delhi, the capital city, is the most polluted, with an average PM2.5 level of 102.1 µg/m3 in 2023. Good air quality has less than 25 µg/m3.

Credits: chartr.co

  1. Happy Hump Day. If you’re a fan of Justin Timberlake, you’re in for a treat with this video.

  1. A Malaysian went grocery shopping in Australia on an AUD50 budget. Watch her relatively massive shipping haul here l (warning — heartache incoming compared to the shrink-git).
    An easy way to expand your shrink-git is to compare prices before shopping (the difference can be significant) - check out the Hargapedia app (free to download), Malaysia’s leading grocery price comparison app (both offline and online).