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Updated version as at 9.42 am
The highlighted words in red are links to the news article.
March 4, 2021,
Business News
- AMMB Holdings Bhd’s (AmBank) share price plunged 11.4% or 36 cents to a near four-month low of RM2.80 on the first trading day after the banking group announced a whopping global agreement related to the 1Malaysia Development Bhd (1MDB) scandal.
- The Norwegian central bank said it had put Japan’s Kirin Holdings Ltd Co on a watch list for possible exclusion from its USD1.3 trillion sovereign wealth fund over the beverage giant’s ties to a business owned by Myanmar’s military.
- Data from SPAC Insider shows that some 204 SPAC IPOs had come to market; no fewer than 12 SPACs were announced. At this rate, 2020’s record year for SPACs might be eclipsed by the weekend. SPAC Insider data shows that from 2009-2019, there were 226 total SPAC IPOs. SPACs to generate more than USD700 billion in acquisition activity in the next two years
- Oil behemoth Royal Dutch Shell announced, after revising its long-term outlook for oil and gas prices, that it will write down the value of its assets by up to USD22 billion in the second quarter.
Technology News
- Ellegra, a fashion tech start-up, provides online personal styling services with automating sartorial choices. In the Zalora Southeast Asia Trender Report 2020, the leading fashion e-retailer revealed that women shoppers make up 80% of its sales, compared to 20% by men.
- The Collaborative Research in Engineering, Science, and Technology (CREST) has been appointed as the Neutral Entity for the i-Connect Health & Wellness sector, an initiative introduced by Academy of Sciences Malaysia (ASM), under the purview of the Ministry of Science Technology and Innovation (MOSTI).
- Online marketplace for used smartphones Cashify said it has raised USD15 million from Asia Environmental Partners (AEP) — a fund focused on the renewable energy sector and environment. AEP is a division of private equity player Olympus Capital.
- Shares of Oscar Health fell more than 7% in their stock market debut on Wednesday, fetching a valuation of just over USD7 billion for the health insurance startup backed by Google parent Alphabet Inc.
