CNA938 Rewind - Reduce, reuse and upcycle?
While you declutter your homes, there is a place you can consider for the upcycling of those items. That means giving used items a new life. Hui Wong works through what an upcycling business can use and how this business concept takes shape with Yvette Ng, YNG founder.
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CNA
5 minutes ago
- CNA
Malaysia's economy projected to grow 4% to 4.8% this year, central bank says
KUALA LUMPUR :Malaysia's economy is projected to expand by 4 per cent to 4.8 per cent in 2025, down from a previous forecast of 4.5 per cent to 5.5 per cent, its central bank said on Monday, warning that trade and tariff uncertainties could affect global growth. Headline inflation is expected to average between 1.5 per cent and 2.3 per cent this year, Bank Negara Malaysia said in a statement. The central bank said the global economic growth outlook was affected by shifting trade policies and uncertainties surrounding tariffs. It said Malaysia's "updated growth projections account for various tariff scenarios, ranging from a continued elevation of tariffs to more favourable trade negotiation outcomes." Although Malaysia's economy remains on a "strong footing", the central bank said its growth projection remains subject to uncertainties surrounding the global economy. Malaysia is facing a 25 per cent tariff on its exports to the United States unless it can reach a deal with Washington by August 1. Malaysia's trade minister said several sticking points remained in the talks with the United States, particularly on non-trade barriers, but discussions were progressing well and were on track to meet the August deadline.
AsiaOne
an hour ago
- AsiaOne
'We will not tolerate it': Car wash operators serving only Singapore vehicles risk losing business licences, says Johor govt, Singapore News
Local authorities in JB have been instructed to revoke the business licences of car wash operators who refuse to serve locals and cater exclusively to foreign customers, including those driving Singapore-registered cars. Speaking at the closing ceremony of the Johor Property Expo 2025 at Angsana Johor Bahru Mall on Thursday (July 24), State Housing and Local Government Committee Chairman Datuk Mohd Jafni Md Shukor said he viewed such behaviour seriously. "If someone is doing business in Johor but only prioritises foreigners while sidelining locals just for bigger profits, then we will not tolerate it," said Datuk Mohd Jafni, reported The Star. "I will instruct local councils to cancel the licences of any car wash operators who insist on only accepting foreign-registered vehicles, especially those from Singapore." Malaysian allegedly turned away by operator The move comes after a Malaysian claimed on social media that his car was refused service because the operators only catered to Singaporean customers. According to the man, he approached a car wash operator to get his car cleaned but was turned away, with one staff member allegedly telling him, "Singaporean cars only". It was also reported that the car wash operator, staffed by foreign workers, also turned away local customers, claiming all slots had been booked by Singaporean customers. According to the New Straits Times, Datuk Mohd Jafni also issued a warning to all business operators who prioritise large profits without considering the needs of locals. "I wish to remind these business operators not to focus solely on making money by prioritising foreigners. Yes, we understand they want to maximise profits, but they also have to understand their corporate social responsibility," he said. Datuk Mohd Jafni further stated that local authorities would be instructed to investigate such businesses and take firm action if the practice continues. [[nid:720205]]
CNA
an hour ago
- CNA
Musk says Tesla, Samsung Electronics sign chip supply deal
SEOUL :Tesla CEO Elon Musk said on Monday that the U.S. automaker has signed a deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant's loss-making contract manufacturing business. On Saturday, Samsung announced a $16.5 billion chip supply deal with a major global company, without naming the client. It said the customer had requested confidentiality about the details of the deal, which will run through the end of 2033. Three sources briefed about the matter told Reuters that Tesla was the customer for the deal. The deal comes as Samsung faces mounting pressure in the race to produce artificial intelligence chips, where it trails rivals such as TSMC and SK Hynix. This lag has weighed heavily on its profits and share price. Samsung, the world's top memory chip maker, also makes logic chips designed by customers through its foundry business. Pak Yuak, an analyst at Kiwoom Securities, said the latest deal would help reduce losses at Samsung's foundry business, which he estimated exceeded 5 trillion won ($3.63 billion) in the first half of the year. Analysts say Samsung has struggled with the defection of key clients to TSMC for advanced chips. TSMC counts Apple, Nvidia and Qualcomm among its customers. The Samsung-Tesla deal is also significant for South Korea, which is seeking U.S. partnerships in chips and shipbuilding amid last-ditch efforts to reach a trade deal to eliminate or reduce potential 25 per cent U.S. tariffs. It is not clear how the order would affect Samsung's plan to start production at its new factory in Texas, which has been delayed as it struggles to win major customers. Samsung is grappling to boost production yields of its latest 2-nanometer technology, and the order is unlikely to involve the cutting-edge tech, Lee Min-hee, an analyst at BNK Investment & Securities, said. Samsung has been losing market share to TSMC in contract manufacturing, underscoring technological challenges the firm faces in mastering advanced chip manufacturing to attract clients like Apple and Nvidia, analysts said.
