☕️ Survey: 1 in 5 UM students (male + female) experienced sexual harassment

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

According to a recent survey conducted by the Universiti Malaya Feminism Club (UMFC), one in five Universiti Malaya (UM) students, both male and female, have experienced sexual harassment during their university life. The survey revealed that 22.5% of students encountered some form of sexual harassment — that’s one out of five students — with only 11.1% of victims choosing to take action. Additionally, a significant majority, 88.9% of those who experienced harassment, opted not to report their experiences. Here’s a list of organisations to reach out to for sexual abuse.

The iconic floating piece of wood from the Titanic, which famously saved the character Rose in the film, has been sold for USD718,750 (RM3.41 mil) at auction. This prop, often mistaken for a door, was part of an auction of props and costumes owned by Planet Hollywood. Fans have long debated whether the panel could have accommodated both Rose and her love interest, Jack, with the listing acknowledging the ongoing debate. The auctioneers, Heritage Auctions, clarified that the prop was based on a complete piece of debris salvaged from the 1912 tragedy and provided measurements to address the speculation surrounding its size — approx. 2.4m and 1m wide.

USD86 bil — Amazon Inc’s cash pile as of the end of 2023. After accumulating a record-breaking USD32 bil (RM151.6 bil) in free cash flow last year, Amazon is expected to nearly double that figure in 2024, as per data compiled by Bloomberg. With fewer options for deploying this substantial cash reserve, Amazon may lean towards more aggressive capital return strategies, including increased share buybacks and the potential initiation of a dividend, according to Robert Schiffman, a senior credit analyst at Bloomberg Intelligence. Schiffman noted that if returns do not see a significant increase, Amazon's cash balances could surpass USD100 bil later this year.

3. IN MALAYSIA 🇲🇾

All things Najib
New information has resurfaced regarding former PM Najib Razak’s bid to get house arrest for the remainder of his reduced jail term. After Najib Razak claimed that there was a royal addendum attached to the royal pardon that cut his jail term by half from 12 years to 6 years. Channel News Asia (CNA) managed to get a hold of invaluable information from senior government officials who have spoken on condition of anonymity. The public servants told CNA that the former King, Sultan Abdullah did issue a supplementary order to grant Najib his house arrest before he stepped down and ended his reign. However, the Attorney-General’s office has raised objections to PM Anwar Ibrahim’s administration on the matter as the matter of the house arrest was not discussed during the meeting on Jan 29 by the six-member Pardons Board. Given these new updates, PM Anwar is in an awkward corner, does he want to accept the house arrest order and tarnish his government’s credibility or decline the house arrest order and upset UMNO?

The Coalition for Clean and Fair Elections (Bersih) strongly opposed the notion that former prime minister Najib Razak should be allowed to serve his remaining prison sentence at home. Bersih added that Najib was involved in serious crimes and is still facing several serious criminal charges pending in court. If you have a bit of sympathy towards Najib, just let us refresh your mind a bit. According to Finance Minister II Amir Hamzah Azizan, the government has paid 1MDB debts totalling RM48.06 bil, with another RM5 bil remaining that will be settled by 2039. RM48.06 bil can more or less finance the blanket RON95 fuel subsidy program for a year. So, in the future, if you have to pay the full price of RON95 fuel, remember that Najib Razak is probably one of the reasons why.

In related news, Najib Razak’s 1Malaysia Development Bhd-Tanore (1MDB-Tanore) criminal trial will continue on Saturdays, an unprecedented move in the country’s justice system. The court is forced to work during weekends as High Court Judge Collin Lawrence Sequerah felt that the trial has run for too long, entering its sixth year now.

Our sovereign borders compromised?

• Law Minister Azalina Othman told Dewan Negara that it was the then PM’s fault that we lost in the Batu Puteh case. Although Azalina did not name the PM, it was during Tun Dr Mahathir’s time when the decision was made to withdraw an application to review the International Court of Justice (ICJ) award of Batu Puteh's sovereignty to Singapore. Azalina added that the attorney-general at that time was put on garden leave; thus, the decision by the then PM was made in secret. The current cabinet had agreed early this year to set up a Royal Commission of Inquiry (RCI) to look into the issues in the handling of the territorial case involving Pulau Batu Puteh, Middle Rocks and the South Ledge.
  Learn: Why is Malaysia fighting Singapore over a rock

• Two Malaysian Maritime Enforcement Agency (MMEA) personnel were injured in a gunfight off the waters of Kunak in Sabah. The gunfight was initiated by three armed men when the MMEA vessel approached an unidentified boat that carried the three gunmen. In response to the event, the security level in Kunak waters has been increased, with Eastern Sabah Security Command (Esscom) and the police ramping up patrols. Esscom is a Malaysian security area that covers 1,400 km of the east coast of Sabah from Kudat to Tawau and was created following the persistent attacks by pirates and militants in the southern Philippines, especially after the 2013 Lahad Datu standoff.

3R cases are on the rise
National Unity Minister Aaron Ago Dagang revealed that 2024 saw a 123% increase in three R's (race, religion and royalty) compared to last year. In 1Q2024 alone, 47 cases were recorded as compared to 21 cases lodged in the same period last year. Johor, Selangor and Penang recorded the highest 3R cases.

Although new updates are branching out from the initial KK Mart incident, we do not want to focus on that. Instead, we want to bring the spotlight towards an initiative called the ‘Maaf Zahir Batin 365 (#MZB365)’ campaign by civil society groups. The #MZB365 campaign is initiated to urge Malaysians towards reconciliation, amid worsening communal provocation in the country. #MZB365 which is inspired by the ‘asking for forgiveness’ tradition of Aidilfitri and will run for one year and not just during the month of Syawal.

Shorts

1. KLCCP issued sukuk to acquire 40% of Suria KLCC Sdn Bhd
   KLCC Property Holdings Bhd (KLCCP) has issued an RM1.95 bil sukuk to finance the acquisition of a 40% stake in Suria KLCC Sdn Bhd. The sukuk will be paying a distribution rate (Islamic finance version of interest rate) of between 3.73% and 3.85%. Given that the 40% acquisition of Suria KLCC will be finalised in 2Q2024, Suria KLCC will be a wholly-owned subsidiary of KLCCP.

2. Microsoft looking to make a dent in Malaysia; CEO to visit Malaysia on May 2
   Microsoft has acquired a plot of land in Johor from Crescendo Corporation Berhad (CCB) for RM132.47 mil. According to CCB, the land sold will be utilised for data centres and associated uses. Coincidently, Microsoft also announced recently that its CEO Satya Nadella will be making his first official visit to Malaysia to deliver the opening keynote at Microsoft Build: AI Day, which has been rescheduled for May 2.

3. Bus trips >300km to have two drivers
   The law mandated that express buses travelling on trips longer than 300 kilometres have second drivers from the start of the journey to reduce the risk of accidents. If you are going back home on a >300km journey, such as from KL to Penang, and you see that the bus does not have a designated second driver, you can lodge a complaint on the MyJPJ super-app.

4. AROUND THE WORLD 🌎

Instagram vs YouTube - now we know who is bigger (in terms of $$$ generated)
We all know that Instagram is a giant in the social media industry, but now we see it even more clearly. In a recent court filing. It was disclosed that in 2021, the photo and video app generated a massive ad revenue of USD 32.4 bil — that is 27% of Meta’s overall revenue. The app has surpassed Google’s YouTube, which generated USD 28.8 bil in ad revenue in the same year.

Assuming that the growth spurt continues and that it now accounts for something close to a third of Meta’s overall revenue, apply the ratio to Meta’s current market cap of USD1.34 tril and voila — that gets us to a whopping USD440 bil! Zuck acquired Instagram for a shocking amount of USD1 bil in 2012 when it had 30 mil users and zero revenue. One of the best M&A deals ever.

For context, despite its massive revenue, Instagram actually spends much less on compensating creators, unlike YouTube, which gives up 55% of every ad dollar it generates to content owners. However, the good news is that Meta is now experimenting with introducing cash bonuses for creators. On top of rewarding creators for engaging videos, cash is now given for engagement on reels, photo carousels and single-image photo posts. Dubbed the “Spring Bonus” program, it is still being tested on an invitation basis for selected creators in the US, Japan and South Korea. Meta is also testing the incentive on Threads, another member of the Meta family that is a rival of Elon Musk’s X.

The total solar eclipse in the US - the good and the bad
The total solar eclipse across North America will occur on 8 Apr 2024, with 15 US states in the path of totality. The longest totality will last four minutes 28 seconds, according to NASA, with most places witnessing it between 3.5 and 4 minutes long. The previous total solar eclipse was on 21 Aug 2017 and the next one in the US will be on 3 Aug 2024.

The good: Tourism has been booming as short-term homestays and AirBnBs are sold out with bookings made months in advance. A remarkable 92% of listings within the zone of totality have been booked on 7 Apr.

The bad: The influx of tourists has led to nearly a dozen state governments declaring States of Emergency, activating National Guard units, and installing a heavy police presence in anticipation of potential chaos.

A total solar eclipse happens when the moon passes between the Sun and the Earth and covers the entirety of the sun along a small path of the planet’s surface. The daytime sky turns dark, like dusk or dawn.

Deals

Rock band Kiss sells all its IP for USD300 mil 
The popular hard-rock band sold its back catalogue of songs to Swedish music investor, Pophouse Entertainment, which also bought the group’s brand, likeness and intellectual property for a total of USD 300 mil.

Here’s how Pophouse will milk this investment - AI. Pophouse will use this IP to generate future AI-generated content related to Kiss, where founder Gene Simmons will continue to be closely involved with the development of the content. Simmons is also well-known as the entrepreneurial heart of the band. Founded in 1973, Kiss is renowned for being a marketer of their brand and has sold some 100 mil records over the past 50 years. The band has stamped their brand on 5000 products - everything from coffee to condoms and even coffins.

If you are in the mood for some old-school rock music, check out some of their greatest hits here — I Was Made For Loving You, Rock and Roll All Nite, Detroit Rock City. You might have heard it before.

McDonald’s buys its Israeli franchisee
McDonald’s has recently agreed to acquire all of its outlets in Israel from its long-time operator Alonyal, a sudden decision made amid slumping sales due to a global boycott over its perceived support for Israel in the Israel-Palestine conflict. The brand launched in Israel more than 30 years ago and grew to 225 restaurants and more than 5,000 employees. The deal value is unknown, but it could be at a bargain. There might be a ‘reverse’ material adverse clause in the franchise agreement.

McDonald’s fourth-quarter sales missed expectations as growth decelerated, hurt in part by the conflict in the Middle East. The segment that includes the region, which accounts for about 10% of McDonald’s revenue, fell well short of estimates. These are showing signs that boycotts are working. Refusing to comment on the rationale of the acquisition (but let’s read between the lines), the chain does plan to look for new franchisees for its Israel business in a few months after the acquisition is completed.

Shorts

1. Floods in Sydney
   A torrential rain for 24 hours has caused flash floods in part of Australia’s second-largest city, forcing thousands to evacuate the city’s outskirts. The rain amounted to a month’s worth of rain on a single day. Blue skies have returned, but flood levels in some rivers are continuing to rise and the city’s main supply of water, the Warragamba Dam, is to continue spilling.

2. More Japanese words in Oxford English Dictionary
   A number of food, daily items and crafting Japanese jargon is quickly making its way into the English vocabulary, thanks to the increasingly global food scene and faster international communication. In its March edition, the British dictionary added 23 Japanese food and culture-related words, including pub-favourite karaage, tonkatsu, katsu and onigiri, as well as traditional Japanese crafts kintsugi and kirigami. Next time you are in the UK, don’t be scared to ask the Brits for the best takoyaki (if you are Muslim, dilarang tonkatsu) in town.

5. FOR YOUR EYES 📺

1. Monday blues setting in? Can’t wait for the festive holidays? Here’s a small help from us to relieve your stress. Below is a delightful video of 100 huskies escaping a pet cafe in a mall in China. No huskies or people were hurt. Study found watching videos of cute animals can reduce stress and and in fact, can improve marital satisfaction.

todayonline

View more on Instagram

2. Meet Gotze - the Rolex of kitchen utensils, to us. Check out a demo of one of the Swiss company’s equipment here - the chopping board x knife combo we didn’t know we needed (though it could be better if it was a wooden chopping board instead of plastic due to the release of microplastics). Makes food preparation 10x more efficient. We don’t even cook but are convinced enough to get it.