- The Coffee Break
- ☕️ No one in Malaysia is actively searching for Jho Low - Billion Dollar Whale authors
☕️ No one in Malaysia is actively searching for Jho Low - Billion Dollar Whale authors
PH: N9, SG, PG won't hold state elections during monsoon, to use same logo. 'Water in can' company Liquid Death valued at USD700mil. 2029 Asian Winter Games to be hosted in desert nation Saudi Arabia.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
Fighting for the planet is a dangerous job. According to a report from Global Witness, more than 1,700 people have died while trying to prevent mining, oil drilling or logging on their lands. Over the past decade, an environmental activist has been killed every two days on average. Which continent is the most lethal? South America. The study found that 68% of the murders took place across the continent.
12th from the bottom — Malaysia’s ranking in a list of countries with the best and worst roads, according to an online driver's education company Zutobi. The firm said Malaysian road quality has decreased by over 5% in the last five years. Malaysian roads are also lethal — 22 road traffic fatalities per 100,000, which makes it the second highest number of road traffic deaths in the world after Saudi Arabia.
Why does the former first lady of Malaysia, Rosmah Mansor, love Hermes Birkin bags? Because it is a great investment! The Himalaya Retourne Kelly 25 bag was sold for €352,800 (RM1.62 mil) in a Sotheby’s auction that ended last Thursday. The price was almost three times Sotheby’s pre-sale estimate.
3. IN MALAYSIA 🇲🇾
PAS wants to be the peacemaker between UMNO and Bersatu, according to the deputy president Tuan Ibrahim Tuan Man.
Three Pakatan Harapan (PH) state leaders — Negri Sembilan, Selangor and Penang — have agreed not to hold state elections during the monsoon period even if the general election happens. Pros — winning points in the rakyat’s eyes; Cons — losing votes due to low turnouts.
PH will use its existing logo if the GE15 is called soon, according to the coalition’s chief Anwar Ibrahim. He added there were plans to use a new logo, but since the situation is desperate.
Sorry folks, no rewards for finding Jho Low.
Home minister Hamzah Zainudin said the government does not need to offer a reward for information on the whereabouts of fugitive businessman Low Taek Jho, also known as Jho Low. In a written parliamentary reply, Hamzah said the police believed that the Red Notice issued by Interpol was better as it involved cooperation with foreign authorities and intelligence that was “more accurate”. Following this report, Billion Dollar Whale authors Tom Wright and Bradley Hope said that no one in the Malaysian government is trying to find Jho Low, according to their source in China, that knows the upper levels of the Chinese government. Watch the latest episode of the authors’ Jho Low hunt below.
A senior police officer said Jho Low is not available for public viewing on Interpol's red notice website as his crime is not deemed a threat to life or public safety.
The Inland Revenue Board (IRB) has withdrawn its appeal against Nooryana Najwa.
The Inland Revenue Board (IRB) was appealing against the Aug 26, 2020, decision of the Shah Alam High Court in dismissing its application to obtain a summary judgment against Nooryana Najwa to recover RM10.3 million in unpaid income tax. However, the IRB filed its notice of discontinuance of the appeal after Nooryana Najwa’s tax agent and IRB went through her case. No further details were divulged officially, but the daughter of former PM Najib Razak went on to Instagram to share the details. Quite a “hantaran”, don’t you agree — if the tax agents thought she had to be taxed RM10.3 mil? One lucky girl.
Meanwhile, her father wants to attend the Parliament. His lawyers, Muhammad Farhan Muhammad Shafee and Rahmat Hazlan, applied for a judicial review of the Prison Department’s decision not to grant him permission to attend parliamentary sessions. If he really wanted to serve the people, maybe he shouldn’t have committed the crime in the first place.
Zaid Ibrahim wants all high-profile criminal court cases involving politicians to be suspended until a new attorney-general is appointed.
The former law minister thinks the suspension would reduce tensions for the coming GE15. Zaid said there were concerns about selective prosecution in those cases. He added that our current AG, Idrus Harun, has been at fault for creating a “negative perception” of the justice system after Najib’s conviction for SRC International and charges against Baling MP Datuk Seri Abdul Azeez Abdul Rahim were dropped without explanation.
The Cabinet has agreed to ratify the Comprehensive And Progressive Agreement For Trans-Pacific Partnership (CPTPP) — a free trade agreement that links Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, which removes 95% of tariffs between the 11 members.
Consumers rejoice as there is a new player in the aviation industry. MYAirline Sdn Bhd, the latest low-cost carrier in town, has recently secured an Air Operator’s Certificate from the Civil Aviation Authority of Malaysia. However, upon checking their website — it is still not selling tickets, but you can sign up and get updates from them.
Bank Negara Malaysia’s (BNM) data showed gross impaired loan (GIL) ratio of the banking system inched higher to 1.8% in June 2022 from 1.7% in June 2021. BNM said overall impairments could rise to 5.8% by the end-2023 under an adverse scenario sensitivity analysis on the banking system.
4. AROUND THE WORLD 🌎
Elon Musk changed his mind on changing his mind.’
Elon Musk decided to proceed with the original offer to acquire Twitter for USD44 bil (USD54.20 per share), avoiding a court battle if it goes through, in a sudden and unexpected turn of events, sending the stock popping by 39%. Twitter sued Musk when he decided to back out from the deal — the court trial is scheduled to start on Oct 17.
Why did Musk change his mind? He could have realised that he might lose the lawsuit after earlier court setbacks. What are his plans for Twitter? He wants to use Twitter to create “X, the everything app” — sounds like a super app, you know, like Grab? “X” is not a placeholder — Elon Musk founded X.com, an online banking app that merged to become PayPal.
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk)
Oct 4, 2022
Billionaire financier and corporate raider Carl Icahn is sitting on a cool USD250 mil profit after taking a US500 mil position in Twitter when it was in the mid-USD30s-a-share range, believing that Musk would not be able to terminate the deal. Profile of Icahn and how he rose to where he is today here.
That said, it’s still too early to celebrate — the mercurial Elon Musk, being Elon Musk, might just change his mind again.
2029 Asian Winter Games to be hosted in a nation of desert
Saudi Arabia has won the bid to host the 2029 Asian Winter Games. The location - a venue within a development that only exists as a concept. The games will take place in Trojena, a development within Neom, the USD500 bil project that includes a year-round ski complex, a freshwater lake and luxury hotels.
Still, on the sports front, Ukraine, currently still at war with Russia, is joining hands with Spain and Portugal to bid to host the 2030 football World Cup. The 2022 World Cup will kick off on 20 Nov in Qatar.
USD31 tril — mind-boggling national debt of a ‘wealthy’ nation
The US gross national debt just surpassed USD31 tril for the first time, revealed by the Treasury Department. President Joe Biden’s policies alone have added USD5 tril in deficits (which is financed with none other than debt). With a rising interest rate environment, it could add another USD1 tril to what the federal government spends on interest payments in this decade. Currently, interest expense (estimated USD400 bil in 2022) has already exceeded all other programmes except national defence spending and, at this rate, could overtake it by 2029.
How could the US be so reckless with its finances, yet its currency is still holding up? This is the “exorbitant privilege” that comes with being the global reserve currency.
‘Water in can’ company Liquid Death is now worth USD700 mil.
Liquid Death sells water in beer cans. A simple idea driven by marketing ingenuity, Launched in 2019 by Mike Cessario, a former advertising director, it is now on track to hit USD130 mil in revenue this year — 3x of last year’s. It has now raised USD70 mil in its latest round of funding, valuing it at USD700 mil.
Liquid Death’s tagline? Murder Your Thirst. Its brand messaging also has an ESG spin — to bring death to plastic.
Check out their website and watch its one-of-a-kind advertisement (warning - graphic content). Professional skateboarder Tony Hawk literally gave 100 vials of his blood to create a limited-edition skateboard with Liquid Death, with the proceeds going to an anti-plastic nonprofit organisation.
Angelina Jolie vs Brad Pitt.
Angelina Jolie has filed a countersuit against ex-husband Brad Pitt alleging the abuse she and her children had to suffer in a 2016 flight on a private jet before Jolie filed for divorce. Her lawyers allege Pitt choked one of their children and hit another, and at one point, Pitt poured beer on Jolie and red wine on the children. Not to mention - Jolie herself was physically abused by him during the flight. Jolie was forced to sign a non-disclosure agreement (NDA) that would not allow her to speak of Pitt's abusive behaviour outside court.
Her countersuit is in response to a lawsuit Pitt initiated against her over the sale of a French winery the former couple owns, which Jolie sold her portion without seeking Pitt’s consent.
5. FOR YOUR EYES 👁👁
If GE15 was a movie poster.
#ThrowbackThursday — the wonders of the internet!