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- ☕️ Wild wild Bursa - multiple limit downs and another stock fell as much as 58%
☕️ Wild wild Bursa - multiple limit downs and another stock fell as much as 58%
AI course for rakyat by Kerajaan Madani! Capital gains tax exempted until 2028. Ikea lowering prices, signalling deflation and "greedflation". Another flying incident in Japan.
The Coffee Break
January 17, 2024
1. MARKET SUMMARY 📈
Information as of 0740 UTC+8 on Jan 17, 2024.
2. NUMBERS AT A GLANCE 🔢
FGV Holdings Bhd has refunded RM72.2 mil in recruitment fees to its 19,673 migrant workers (RM3,670 per worker) as part of its efforts to address the Withhold Release Order (WRO) issued by the United States Customs and Border Protection (CBP). The plantation company has allocated RM112 mil to reimburse recruitment fees to migrant workers, including former ones, in three tranches paid in March, June, and September 2023.
Consumers only increased their spending on mobile apps by 3% in 2023, with total spending across the App Store, Google Play and third-party Android app stores in China reaching USD171 bil. Consumer spending on non-game apps grew 11% YoY in 2023 to reach USD64 bil. TikTok, along with other social apps, played a major role in this growth. Last year, TikTok achieved a significant milestone by surpassing USD10 bil in lifetime spending. This made it the first non-game app to achieve such a feat. You can download the “State of Mobile” report here.
Despite facing potential imprisonment in February 2024 after pleading guilty to US criminal charges in November 2023, former Binance Holdings Ltd CEO Changpeng Zhao experienced a significant increase in his estimated wealth in 2023 (by USD25 bil) to over USD37 bil. This surge occurred amid a strong rebound in the cryptocurrency market, particularly Bitcoin, which saw a more than 160% increase. Zhao's estimated net worth, while below its peak in early 2022 (USD97 bil), reflects the resilience and growth in the cryptocurrency sector throughout the year.