Trading ideas: Maybank, CIMB, Capital A, Aeon Credit, Hengyuan, Ramssol, Flexidynamic, MRCB, Zetrix, Rex
Malayan Banking Bhd is extending a US$150mn sustainability-linked loan to AT&S Malaysia, marking the first such loan by a Malaysian and Southeast Asian lender to AT&S and the first such loan by a local lender to a multinational company in Malaysia's semiconductor sector.
CIMB Group Holdings Bhd has set a new sustainable finance target of RM300bn by 2030, more than tripling its previous goal.
Capital A Bhd has inked a memorandum of understanding with Keretapi Tanah Melayu Bhd for a planned collaboration in travel services, food and beverage, loyalty programmes and logistics.
Aeon Credit Service (M) Bhd has made its 10th issuance of sukuk wakalah under the Islamic Commercial Papers programme, with a total nominal amount of RM150mn and a 179-day tenure starting from 14 July 2025.
Hengyuan Refining Company Bhd is planning to raise up to RM300mn through a renounceable rights issue that includes free detachable warrants to finance the purchase of crude oil.
Ramssol Group Bhd has entered into a share sale agreement with Sagtec Global Ltd for the disposal of its 40% equity interest in Rider Gate Sdn Bhd for a disposal consideration of RM25mn.
Flexidynamic Holdings Bhd , a rubber gloves manufacturer, plans to diversify into the gamma sterilisation business by acquiring a 51% stake in Gammatech Sdn Bhd for RM16.1mn.
Malaysian Resources Corp Bhd's wholly-owned subsidiary, Country Annexe Sdn Bhd, and Ipoh Sentral Sdn Bhd will jointly develop Ipoh Sentral in Perak with an estimated gross development value of RM6.3bn.
Zetrix AI Bhd, formerly MyEG Services Bhd , is ramping up expansion across Southeast Asia to reduce reliance on government contracts, said managing director TS Wong.
Independent adviser cfSolutions has advised minority shareholders of Rex Industry Bhd to reject the conditional mandatory takeover offer by controlling shareholder ETA Industries, stating that the 10 sen per share and 0.5 sen per warrant offer is not fair and not reasonable.
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New Straits Times
3 hours ago
- New Straits Times
Trump announces Indonesia 'deal' after tariff threats
WASHINGTON: US President Donald Trump said Tuesday that he had struck a deal with Indonesia – without providing specifics of the agreement – a week after threatening steeper tariffs on the Southeast Asian country. "Great deal, for everybody, just made with Indonesia," Trump wrote on his Truth Social platform, saying that he worked with the country's president directly. "DETAILS TO FOLLOW!!!" The Trump administration has been under pressure to finalise trade pacts after promising a flurry of deals, as countries have sought negotiations with Washington to avoid Trump's tariff threats. But the US president has so far only unveiled deals with Britain and Vietnam, alongside an agreement to temporarily lower tit-for-tat levies with China. Last week, Trump renewed his threat of a 32 per cent levy on Indonesian goods, saying in a letter to the country's leadership that this level would take effect August 1. It remains unclear what Indonesia's new tariff level will be under the latest deal with Washington, Indonesia's former vice minister for foreign affairs, Dino Patti Djalal, told a Foreign Policy event Tuesday. But he added that insiders from the Indonesian government indicated they were happy with the new deal, adding that he expected further information in the coming hours. Trump, in April, imposed a 10 per cent tariff on almost all trading partners, while announcing plans to eventually hike this level for dozens of economies, including the European Union and Indonesia. However, just days before the steeper duties were due to take effect, he pushed the deadline back from July 9 to August 1. This marked his second postponement of the elevated levies. Instead, since the start of last week, Trump began sending out letters to partners, setting out the tariff levels they would face come August. The levy he cited to Indonesia last week was unchanged from the figure first unveiled in April. To date, Trump has sent more than 20 such letters to partners including the EU, Japan, South Korea and Malaysia. Canada and Mexico – both countries that were not originally targeted in Trump's "reciprocal" tariff push – also received similar documents outlining updated tariffs for their products. However, existing exemptions covering goods entering the United States under a North American trade pact are expected to remain in place. Analysts have warned that without trade agreements, Americans could conclude that Trump's strategy to reshape US trading ties with the world has not worked. "In the public's mind, the tariffs are the pain, and the agreements will be the gain. If there are no agreements, people will conclude his strategy was flawed," William Reinsch, senior adviser at the Center for Strategic and International Studies, previously told AFP.
Free Malaysia Today
3 hours ago
- Free Malaysia Today
Govt looks into US request to ease foreign ownership limits
Tengku Zafrul Aziz said trade officials were working to meet the new US tariff deadline of Aug 1, 'but not at the expense of agreeing to every request'. PETALING JAYA : The government is to consult industry leaders over a US request to relax the limits on foreign ownership of companies in some sectors, says investment, trade and industry minister Tengku Zafrul Aziz. Tengku Zafrul said the US had asked Malaysia to consider liberalising the foreign shareholding restrictions in force on some sectors. Many other nations have also received the same request from the US, he said. The minister said the government would need to consult industry leaders in strategic sectors to determine whether these sectors were ready for the caps on foreign equity to be lifted. 'We need to carefully study its potential impact,' he said. Tengku Zafrul pointed out that some sectors did not have such restrictions, while the manufacturing industry was 'nearly all open'. However, foreign equity limits are still being imposed on strategic sectors, he said. 'As you know, Malaysia has equity restrictions for foreign shareholders in certain sectors. There's a request for us to relook or liberalise those sectors. We need to consult those industries, on whether we are ready to relax those equity shareholding restrictions,' he said. However, not all the US requests would be accepted, he said. 'Some of the requests, we feel, may not be fair to Malaysia.' He said trade officials were working to meet US president Donald Trump's new tariff deadline of Aug 1, 'but not at the expense of agreeing to every request'. The Trump administration has said a 25% tariff would be imposed should talks on a trade deal fail. Flexibility on tariffs Tengku Zafrul said there might be room for flexibility on a sector-by-sector basis. 'There will be opportunities for us to negotiate tariffs below 10% for certain sectors. But at the same time, we cannot depend solely on this trade negotiation.' He pointed to the current status of key sectors such as semiconductors and pharmaceuticals, on which no tariffs are imposed. 'For example, pharmaceuticals are in a better position. Right now, tariffs for both the semiconductor and pharmaceutical sectors are at zero. Naturally, we want to maintain that 0% tariff, but whether we can secure it is another matter.' On the potential impact of tariff changes on the Johor-Singapore special economic zone, Tengku Zafrul said investors were holding off until there was greater clarity. 'There seems to be a wait-and-see attitude. Investors are watching how the tariff scenario plays out before recalculating their positions. That calculation can only happen once there's certainty.' Another discussion would be held this week, with talks to be accelerated until the end of the month, he said.
The Star
3 hours ago
- The Star
Semiconductor sector holds steady for now
PETALING JAYA: While Malaysia's semiconductor sector is unlikely to be sidelined anytime soon, analysts caution that the risk of gradually losing market share is real if cost pressures persist and regional competition intensifies. Tradeview Capital fund manager Neoh Jia Man said demand for local semiconductor products and services is expected to remain inelastic over the next few years, as customers struggle to find alternative suppliers quickly. However, in the long run, they will still look to diversify. 'Customers will almost certainly seek to renegotiate prices, expecting local suppliers to help share the cost burden from tariffs. 'In the end, it depends on how big the local semiconductor companies' profit margins are and how much cost they can absorb,' Neoh told StarBiz. 'I wouldn't say there's no impact on demand, but for now, US customers don't have much choice – at least for the next few years. It would take time for them to fully establish alternative supply chains.' The United States recently announced a 25% tariff on Malaysia, up from 24% previously, effective Aug 1, 2025. By comparison, Vietnam will face a lower 20% rate. It was also reported that the US is working on an interim trade deal with India that could reduce its proposed tariffs to below 20%. For sectors like semiconductors, the Trump administration has signalled since April that a special tariff rate would be applied. While some semiconductor products are exempted from the tariffs announced in April, it remains to be seen if this will continue beyond Aug 1. Earlier this month, US President Donald Trump said he will 'soon' announce the tariff rate for the chip industry. Vietnam's success in negotiating a lower tariff, along with India's push into higher-value semiconductor activities, may increase competitive pressure on Malaysia. This may also accelerate the Malaysia+1 trend, where companies shift some operations out of Malaysia. Neoh said Vietnam and India 'could pose serious threats' to Malaysian semiconductor companies over the long run, as both countries have the advantage in terms of labour costs and market size. 'Hence, if Malaysia is unable to negotiate a better tariff rate with the United States compared with these countries, then we will definitely lose more business to them over the next decade,' he said. Phillip Nova senior analyst Danish Lim noted a silver lining: Malaysia's overall tariff rate remains lower than some neighbours such as Thailand, Indonesia and Cambodia. 'The tariff saga could also accelerate the China + 1 shift, with US fabless companies that still run test and packaging facilities in China likely to fast-track (moving) their facilities to Penang or Kulim. 'This would also apply to other countries that have higher tariff rates than Malaysia,' Lim added. Neoh opined that the China+1 trend may still outweigh the Malaysia+1 phenomenon, as players continue relocating from China to Malaysia. 'As such, we are still a net beneficiary amid the ongoing tariff developments.' While the risk of gradually losing market share is real, Neoh said the rate at which Malaysian chip companies gain market share from Chinese players might still outpace the rate at which India and Vietnam erode theirs, at least for the next few years. Between India and Vietnam, Phillip Nova's Lim said the latter poses a bigger risk given its lower tariff rate of 20%, more competitive labour costs and proximity to China. Crucially, Vietnam also has one of the world's largest rare earth deposits, he added. Nevertheless, he noted that both Vietnam and India have less mature ecosystems than Malaysia, particularly in the outsourced semiconductor assembly and test (Osat) space. 'Both still face challenges such as talent availability and infrastructure development. Hence, as the semiconductor space becomes more globally competitive, we believe market share erosion will be gradual, not abrupt. 'Volume relocations by US companies are very unlikely in the near term,' Lim said. Lim is of the view that if the 25% tariff remains post Aug 1, Malaysia's electrical and electronics exports, and consequently semiconductor players, could take a hit, as supporting industries like raw materials, industrial components and machinery remain subject to tariff. He added that the structural drivers for artificial intelligence or AI remains intact, and demand for Osat is likely to grow as more advanced chips hit the market. 'Provided the exemptions for semiconductors remain, Malaysia's key role in the global semiconductor supply chain is unlikely to take much of a hit, even with rising competition from neighbours like Vietnam,' he said.
