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High Drama and Big Impact: Trump’s Bold Tariff Plans and What to Expect

Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
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Genting Plantations Unit Issues RM1.2 Billion Sukuk Wakalah

Genting Plantations Bhd’s (KL) wholly-owned subsidiary, Benih Restu Bhd, has successfully undertaken its first issuance of RM1.2 billion in Islamic medium-term notes (sukuk wakalah) under a RM2 billion sukuk wakalah programme based on the shariah principle of Wakalah Bi Al-Istithmar.

Key Details:

  • Issuance Details: The RM1.2 billion sukuk wakalah has a tenure of 10 years with an annual profit rate of 4.08%, according to Genting Plantations' filing with Bursa Malaysia on Monday.

  • Utilization of Proceeds: Benih Restu will advance the proceeds from the issuance to Genting Plantations and/or its subsidiaries via shariah-compliant intercompany advances. The funds will be used for:

    • Operating expenses
    • Capital expenditure
    • Investment
    • Refinancing of existing borrowings and shariah-compliant financing facilities
    • Future shariah-compliant financing facilities
    • Working capital requirements
    • General funding and corporate purposes

  • Application of Proceeds: The proceeds will support various activities including oil palm plantation development, palm oil processing, property development and investment, biotechnology research, and development of plantation crop improvement applications, as well as other new business activities within the group.

  • Advisers and Managers: AmInvestment Bank Bhd, Hong Leong Investment Bank Bhd, OCBC Al-Amin Bank Bhd, and Public Investment Bank Bhd are the joint principal advisers and joint lead arrangers for the sukuk wakalah programme. These banks also serve as joint lead managers for the first issuance.

  • Market Response: At the close of trading on Bursa Malaysia, shares of Genting Plantations eased by three sen to RM5.70, with 727,100 shares changing hands.

This issuance marks a significant step for Genting Plantations in leveraging Islamic finance to support its diverse operational and investment needs, ensuring alignment with shariah-compliant principles.

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