logo
Hyundai Unveils New Malaysia Entity With Focus On SUVs, MPVs And Hybrid Tech

Hyundai Unveils New Malaysia Entity With Focus On SUVs, MPVs And Hybrid Tech

BusinessToday3 days ago
Hyundai Motor Company has officially launched Hyundai Motor Malaysia (HMM), a newly formed entity aimed at strengthening its presence in the country, with the debut of three new models: the Hyundai STARIA, New TUCSON, and All-new SANTA FE.
The launch marks Hyundai's direct entry into the Malaysian market, with a product line-up targeting local demand for spacious MPVs, versatile SUVs, and hybrid options. The STARIA is offered in multiple 7- and 10-seater variants, powered by a 2.2L diesel engine, and priced from RM179,888. Tucson
Staria
Santa Fe
The New TUCSON introduces a hybrid variant in Malaysia, alongside petrol engine options, with prices starting at RM143,888. It includes Hyundai's SmartSense safety suite and a digital-forward cabin layout.
The All-new SANTA FE, available in both hybrid and turbocharged petrol options, features 6- or 7-seater layouts and a wide range of driver assistance technologies. It is priced from RM225,000.
All new vehicles come with an 8-year/160,000km warranty and free maintenance labour of up to four times. The first 100 customers are also eligible for free service maintenance up to eight times, inclusive of labour and parts.
Hyundai Motor Malaysia aims to expand its aftersales service network to 25 authorised outlets nationwide by 2030. Related
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Malaysia glove demand to rebound in 2H25
Malaysia glove demand to rebound in 2H25

New Straits Times

time3 hours ago

  • New Straits Times

Malaysia glove demand to rebound in 2H25

KUALA LUMPUR: Malaysia's glove sector demand is expected to rebound in the second half of 2025 (2H25) due to current low inventory levels, said Kenanga Research. The firm said that following slower inventory movement in 1H25 due to the front-loading effects of US customers purchasing from Chinese makers, this could spark a sudden surge in orders. It believes the current concern of Chinese glove makers further lowering average selling prices (ASPs) is overplayed, since the current ASPs of US$15 to US$17 per 1,000 pieces are higher than the previous down-cycle ASP of US$13 per 1,000 pieces. "Anecdotal evidence suggests that despite the impact of tariff-related disruptions, there is only so long customers can hold off making purchases. "If past history is any guide, based on previous down-cycles, Malaysian glove makers' stock prices will start to re-rate once the ASP concerns subside, and demand starts flowing back to Malaysian glove makers," it said. Meanwhile, Kenanga Research said the EU decision and US tariff on Chinese glove makers could benefit Malaysian glove makers. The firm said the potential increase in demand would be an added boost for local glove players on top of expected expansion in the US rubber-glove market. Assuming both EU and US orders flow back to Malaysian glove makers gradually in 2H25, the firm said Malaysia could see an aggregate of 70 billion pieces – 35 billion from the EU and 35 billion from the US. Overall, Kenanga Research has maintained an "Overweight" rating on the sector. It said Malaysian glove stocks are trading at deep value levels, pricing them close to the worst of the down-cycle. "The glove sector under our coverage is currently trading at negative two standard deviations below its historical one-year forward average. "While earnings may remain weak in the near term, structural demand and supply rationalisation offer long-term upside. "We prefer selective exposure to quality names like Hartalega Holdings Bhd and Kossan Rubber Industries Bhd," it added.

SST and new electricity tariffs: Relief measures to ease transition
SST and new electricity tariffs: Relief measures to ease transition

New Straits Times

time5 hours ago

  • New Straits Times

SST and new electricity tariffs: Relief measures to ease transition

PUTRAJAYA: As Malaysia enters the second half of 2025, the government's fiscal recalibration through an expanded Sales and Service Tax (SST) and revised electricity tariffs mark a strategic move to strengthen national finances while prioritising the welfare of the rakyat. Despite early concerns over rising living costs, the rollout includes various measures designed to cushion the impact, especially for households and small businesses. From tax exemptions on personal care services such as haircuts, facials and manicures, to anticipated cash assistance and a more progressive electricity tariff system where higher usage brackets are charged more, the government appears to be listening and responding to public sentiment. For the average Malaysian, the mood is gradually shifting from anxiety to cautious optimism, as support mechanisms are in place to help those most in need. SST expansion with built-in relief The government has expanded the SST to cover more services and selected imported goods as part of efforts to boost revenue. However, following engagement sessions and public feedback, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim recently announced tax exemptions for four imported fruits commonly found on Malaysian dining tables - apples, oranges, mandarin oranges and dates. He also raised the SST registration threshold for leasing and financial services from RM500,000 to RM1 million, offering relief to smaller businesses. Meanwhile, services such as haircuts, facials and manicures have been excluded from the expanded SST, a modest but welcome move that helps maintain the affordability of everyday self-care. "This move helps maintain the affordability of key food items and supports household purchasing power," said Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid. Another key policy change taking effect this month is the revised electricity tariff, which affects more than 23.6 million domestic users in Peninsular Malaysia. The new rates, effective from July 1, 2025 until Dec 31, 2027, fall under the Incentive-Based Regulation (IBR) framework under Section 26 of the Electricity Supply Act 1990. The Energy Commission has set the average base tariff rate at 45.40 sen per kilowatt-hour, slightly lower than the 45.62 sen approved in December 2024. This adjustment is expected to reduce overall electricity costs while promoting energy-saving habits, particularly during off-peak hours. External challenges remain Despite domestic reforms, global uncertainties continue to weigh on Malaysia's economic outlook. Mohd Afzanizam warned that the upcoming expiry of the United States' temporary suspension of reciprocal tariffs on July 9 could increase pressure on Malaysian exports if Washington reimposes steep duties. However, the administration of US President Donald Trump has signalled the possibility of extending the suspension, a move that could offer short-term relief to Malaysian exporters, particularly in the electrical and electronics, palm oil, rubber and machinery sectors. Economists say such an extension would reflect a more measured US trade stance and could help stabilise global market sentiment, which is a much-needed breather for emerging economies navigating inflation, currency volatility and geopolitical risks. At the same time, ongoing tensions in the Middle East continue to fuel oil price fluctuations, adding pressure to Malaysia's fuel subsidy rationalisation efforts. Global price volatility could increase consumer costs and complicate the implementation of subsidy reforms. Relief measures and stronger fiscal footing While the government's fiscal reforms are geared toward long-term stability, public sentiment remains sensitive to immediate cost-of-living issues. Uncertainty still lingers over the implementation of RON95 fuel subsidy rationalisation and the full impact of SST and electricity adjustments on consumer behaviour. Nevertheless, there are signs of relief on the horizon. Mohd Afzanizam noted that there may be room for monetary easing, including a potential 25 basis points cut in the overnight policy rate (OPR) as early as this month (July 9). In a separate move, Bank Negara Malaysia's decision in May to reduce the statutory reserve requirement by 100 basis points had already injected about RM19 billion into the banking system, providing liquidity to support economic activity. "On the fiscal front, the government's disciplined approach appears to be yielding results. The fiscal deficit narrowed to RM22 billion or 4.5 per cent of gross domestic product in the first quarter of 2025, down from RM26 billion or 5.7 per cent in the same period last year. "Savings from the diesel subsidy rationalisation and SST reforms introduced in 2024 have opened up fiscal space, enabling the government to increase targeted assistance. The combined allocation for Sumbangan Tunai Rahmah and Sumbangan Asas Rahmah has been raised to RM13 billion this year from RM10 billion in 2024. "This careful balancing act is supporting investor confidence and helping to preserve Malaysia's sovereign credit ratings," he said. International rating agencies like Moody's, S&P, and Fitch are expected to maintain Malaysia's current sovereign ratings, a crucial factor in attracting long-term foreign investment. As Malaysians adjust to this new fiscal environment, the coming months will test not only household resilience but also the government's ability to sustain reforms while protecting the wellbeing of the rakyat.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store