
RHB Bank's Singapore unit key to regional growth plan, targets
SINGAPORE: RHB Singapore, part of Malaysia's fourth-biggest banking group RHB, will be key in driving its regional expansion plans and help meet targets which include hitting a return on equity of 12% by 2027, a senior executive said on Friday.
Singapore's low taxes, political stability and its location as a gateway to the growing Southeast Asian markets are luring ultra-rich investors and financial institutions, making it a top regional financial hub.

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Focus Malaysia
41 minutes ago
- Focus Malaysia
Aluminium prices hold strong despite US tariff concerns
DESPITE ongoing uncertainties due to the US tariffs, we believe aluminium prices will remain supportive amid the tight global supply, albeit offset by moderating demand. 'We remain positive on the outlook for aluminium smelters mainly due to easing alumina costs,' said RHB. LME aluminium prices have been more volatile with the imposition of US tariffs, dropping to a low of USD2,300/tonne in April, but prices have since recovered to USD2,600/tonne. While the tariffs have raised concerns on slower demand for aluminium, LME aluminium prices are supported as the overall global supply remains tight amid delays in the ramping up of new smelting capacity in Europe due to high energy costs, and limited room to grow in China as it nears the 45m tonne annual production cap. That said, the Main Japanese Port (MJP) premium has fallen by 58% year-to-date (YTD) due to the higher supply in Asia following reduced interest in exporting to the US, whereas the US Midwest premium has risen 200% YTD. On the cost side, alumina prices have decreased 46% YTD, accounting for only 14% of LME aluminium prices, down from a peak of 31% in Dec 2024, as supply chain disruptions from Guinea eased. This bodes well for aluminium smelters, with a ramp-up in new refinery capacities in Asia. In the longer term, we remain positive on PMAH as it targets increasing alumina self-sufficiency from 23% currently to c.99% by 2027, with the new refinery project in Indonesia. Even if alumina prices fall further, Indonesia remains costcompetitive for alumina refineries due to its bauxite export ban. Conversely, carbon anode costs have risen 23% YTD, driven by higher petroleum coke prices, following supply disruptions. That said, margin should still be supported as carbon anodes make up a relatively small portion of smelting costs. Last week, the Transport Ministry formally approved the scheme for MRT Circle Line, or also known as MRT 3. Land acquisition is expected to be completed by end-2026, with contract awards and construction of the 51.6km line to begin in 2027. We believe this will boost demand for cement in the midlong term, and anticipate LMC to be one of the biggest beneficiaries, given its huge market share of 60-70%. Additionally, while LMC's cement supply contract for the East Coast Rail Link Phase 1 ended in 2024, management guided that it is still supplying cement for Phase 2, albeit without an exclusive contract. We note that bulk cement prices have remained stable at MYR380/tonne since Jul 2023, while coal prices have declined by 12% YTD, easing cost pressures for cement producers. Key downside risks are rising input costs and a global slowdown, which could tamper construction activity and weaken demand for aluminium and cement. —July 23, 2025 Main image: Aluminium Online


Daily Express
8 hours ago
- Daily Express
US-Indonesia deal cuts tariffs, eases critical mineral export limits
Published on: Wednesday, July 23, 2025 Published on: Wed, Jul 23, 2025 By: AFP Text Size: The deal, described as a 'huge win' by former President Donald Trump, reduces US tariffs on Indonesian goods from 32% to 19%. WASHINGTON: The United States and Indonesia have reached a trade agreement that will lower tariffs and ease restrictions on critical mineral exports, the White House confirmed. The deal, described as a 'huge win' by former President Donald Trump, reduces US tariffs on Indonesian goods from 32% to 19%. Under the agreement, Indonesia will eliminate 99% of its tariff barriers for American industrial, tech, and agricultural products. 'Indonesia will supply the United States with their precious Critical Minerals,' Trump stated on his Truth Social platform. The Southeast Asian nation is a major producer of copper, cobalt, and nickel, essential for manufacturing and renewable energy sectors. A joint White House statement noted that certain Indonesian goods not readily available in the US may qualify for even lower tariffs. Additionally, Indonesia will lift export restrictions on industrial commodities, including critical minerals. A US official, speaking anonymously, revealed that Indonesia will also abandon plans to tax data flows, a move previously criticized as a 'revenue grab' targeting American firms. The country will further streamline imports by removing pre-shipment inspection requirements for US goods and accepting US motor vehicle safety standards. The deal, expected to be finalized in the coming weeks, is projected to provide $50 billion in new market access and purchases by Indonesian firms. This agreement follows similar pacts with Britain, Vietnam, and the Philippines, as the US seeks to rebalance trade relations ahead of an August 1 tariff deadline. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia


The Sun
8 hours ago
- The Sun
US-Indonesia deal cuts tariffs, eases critical mineral export limits
WASHINGTON: The United States and Indonesia have reached a trade agreement that will lower tariffs and ease restrictions on critical mineral exports, the White House confirmed. The deal, described as a 'huge win' by former President Donald Trump, reduces US tariffs on Indonesian goods from 32% to 19%. Under the agreement, Indonesia will eliminate 99% of its tariff barriers for American industrial, tech, and agricultural products. 'Indonesia will supply the United States with their precious Critical Minerals,' Trump stated on his Truth Social platform. The Southeast Asian nation is a major producer of copper, cobalt, and nickel, essential for manufacturing and renewable energy sectors. A joint White House statement noted that certain Indonesian goods not readily available in the US may qualify for even lower tariffs. Additionally, Indonesia will lift export restrictions on industrial commodities, including critical minerals. A US official, speaking anonymously, revealed that Indonesia will also abandon plans to tax data flows, a move previously criticized as a 'revenue grab' targeting American firms. The country will further streamline imports by removing pre-shipment inspection requirements for US goods and accepting US motor vehicle safety standards. The deal, expected to be finalized in the coming weeks, is projected to provide $50 billion in new market access and purchases by Indonesian firms. This agreement follows similar pacts with Britain, Vietnam, and the Philippines, as the US seeks to rebalance trade relations ahead of an August 1 tariff deadline. - AFP