☕️ The RM639 airasia SUPER+ subscription plan gets you unlimited flights, unlimited food deliveries

1. MARKET SUMMARY

2. NUMBERS AT A GLANCE

187,000 filed for unemployment in the US, according to the Labor Department. The figure is the lowest since 1969, showing a stark turnaround in the job market in the US since the start of the coronavirus pandemic.

2 million youths will get RM150 each in their e-Wallets under the e-Pemula programme. The scheme is meant for youths aged 18 to 20 and full-time students in higher learning institutions. That’s a total of RM300 mil into the pockets of youths.

940 million people (13% of the world) do not have access to electricity, according to statistics in 2016.

3. COVID-19 SUMMARY

• The second vaccine booster lowers the Covid death rate of senior citizens by 78% based on a 40-day study in Israel that included more than half a million people aged 60 to 100.

• China is carrying out its biggest city-wide lockdown since the pandemic began — Shanghai will be locked down over nine days for the authorities to carry out Covid-19 testing. Almost 25 million people will be affected.

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4. IN MALAYSIA 🇲🇾

1. Details emerged from court documents showing MySejahtera app developer Entomo Malaysia Sdn Bhd (f.k.a. KPISoft Malaysia Sdn Bhd) agreeing to transfer the app’s IP and software license to MySJ Sdn Bhd for RM338.6 mil until the end-2025. The court is relating to P2 Asset Management Sdn Bhd, a shareholder of MySJ is suing Entomo and other MySJ shareholders over an alleged breach of share sale agreement.So, if one private entity is willing to license the app for RM338.6 mil, the cost has to be covered by someone, or in this case, the government? Health Minister Khairy Jamaluddin (KJ) said the government is still in discussion with MySJ on the licensing agreement and the amount negotiated “is much, much lower than RM300 mil” and that the amount agreed and the court case between MySJ and Entomo has nothing to do with the government’s negotiations.

2. The Securities Commission released its 2021 annual report. Some highlights: Takeaway: Despite the general economy and population being hit by the pandemic, the capital market painted a different picture - it was still flourishing and recording growth. Plenty of money sloshing around the market chasing yield. Clearly a k-shape recovery — capital owners thrived whilst the wealth of those relying on salary income continue to lag behind.

   1. Total funds raised in the capital market rose 14.22% in 2021 to RM130.9 bil from RM114.6 bil in 2020 - RM16.6 bil raised via equity and RM114.3 bil via the corporate bond market.

   2. Total assets under management (AUM) of licensed fund management companies (e.g. unit trust funds, EPF, corporates) increased by 5.04% to RM951.05 bil in 2021. Unit trust funds continued to be the largest component of RM526.89 bil, an increase of 1.42% YoY.

   3. 18 corporate takeovers in Malaysia totalling RM8.59 bil in 2021 vs 25 takeover offers worth RM3.49 bil YoY.

   4. Total funds raised via peer-to-peer financing reached RM1.14 bil in 2021, more than 2x the amount raised in 2020. RM2.29 bil was raised via p2p funding since inception.

   5. As for equity crowdfunding, a total of RM221.63 mil, an increase of 73.51%, was raised in 2021 from RM127.73 mil in 2020. Since inception, RM420.86 mil was raised via ECF.

   6. Total committed funds in private equity (PE) and venture capital (VC) rose 26.75% to RM14,83 bil in 2021 from RM11.7 bil in 2020. Of this, RM9.65 bil was for PE and RM5,18 for VC.

   7. RM21 bil in digital assets traded across the four licensed digital asset exchanges (DAXs). Registered accounts increased by nearly 300% to about 760,000 from 190,000 in 2020, with those below 35 years old forming the largest segment at 62%.

3. Capital A Bhd (fka AirAsia Group Bhd) in the news yesterday:

   1. Capital A CEO Tony Fernandes said that AirAsia has settled 90% of passenger refunds despite the financial difficulties faced by the airline industry.

   2. The group’s airasia Super App launched its SUPER+ subscription plan offering perks such as unlimited flight redemption, free delivery of airasia food and Covid-19 pre-departure insurance coverage for a year. It will be limited to 200,000 subscribers for RM639 from Monday, Apr 2. This unlimited free flight promo sounds very familiar. Maybe this time, everyone really can fly. If these 200k subscription plans sell out, Capital A is pocketing RM127.8 mil upfront, selling promises of unlimited flights and free food deliveries.

   3. The KL High Court has dismissed Malaysia Airport Holdings Bhd’s (MAHB) application to strike out AirAsia Bhd and AirAsia X Bhd’s claim for the sum of RM479.78 mil for loss and damages from 2014 to 2018 due to negligence on the part of MAHB, owing to disruption and poor upkeep of klia2. Separately, on Mar 3, the Court of Appeal dismissed the striking out appeals of these 2 AirAsia companies against MAHB relating to outstanding passenger service charges.

4. Berjaya Group’s assets, namely its convenience store chain 7-Eleven and Starbucks franchises, attracted the attention of a suitor from Taiwan, according to four separate sources. Berjaya Corp Bhd would not provide any comments and if any, it will be made via Bursa. Although the Taiwanese party is not known, it is speculated that Uni-President Enterprises Corp, a listed conglomerate in Taiwan that operates both Starbucks and 7-eleven outlets in the country is the potential suitor. The Taiwanese company has a market cap of RM54.33 bil vs Berjaya Corp’s market cap of RM1.27 bil.

5. AROUND THE WORLD 🌎

1. Why did Will Smith slap Chris Rock? Because Rock joked about Jada Smith’s baldness, except it wasn’t funny because Jada Smith has alopecia — an auto-immune disorder that causes hair loss. She wasn’t happy about the joke, and the rest is history. Will Smith also won the Best Actor’s award at the Oscars for his portrayal of the determined father of Venus and Serena Williams in King Richard. You can watch the video here.

2. Millions of dollars worth of luxury Audemars Piguet watches have been confiscated by Russian officials for allegedly violating customs rules. According to Swiss media, the watches were seized by agents working for Russia’s FSB security service from a Moscow subsidiary of Audemars Piguet. The luxury Swiss brand said it had ceased its operations in Russia after the invasion.

3. The war in Ukraine could be nearing the end as Ukraine and Russia prepare for talks in Turkey. Authorities in Kyiv said the chances of success in cease-fire talks had grown in recent weeks, “from 10% two weeks ago to 50%.” Ukrainian President Volodymyr Zelensky said he was prepared to talk about neutrality in an attempt to meet one of Russia’s core demands on Ukraine.

4. Sea Ltd is pulling out of India’s retail market just months after starting operations there because of “global market uncertainties.” It is the e-commerce and gaming firm’s second withdrawal in recent weeks — Shopee pulled out of France too. The loss-making firm is under pressure to break even as soon as possible.

5. President Joe Biden is expected to propose a new minimum tax in his 2023 budget — “Billionaire Minimum Income Tax” that would assess a 20% minimum tax rate on US households worth more than USD100 million. The proposed levy is expected to reduce the deficit by about USD360 billion in the next decade.

6. Pakistan's parliament took up a no-confidence motion moved by opposition lawmakers on Monday in a bid to remove Prime Minister Imran Khan, which the house will debate on Thursday. The move comes as Pakistan faces a recurring economic crisis.

7. Tesla wants to split its stock in the form of a stock dividend, according to a filing to The Securities and Exchange Commission. The filing said the electric car maker will ask its shareholders during the annual shareholders meeting. The company last split its stock in August 2020.

6. FOR YOUR EYES 👁👁

1. Does fast charging for your phone damage your battery?

2. Remember the exploding Samsung Galaxy Note 7? Here’s what went wrong.

3. Batman in 1966 vs Robert Pattinson’s Batman - which would you prefer?