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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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HB Global Appoints Johol Ruling Chief as Chairman

Frozen food manufacturer HB Global Ltd (KL) has appointed Datuk Johan Pahlawan Lela Perkasa Setiawan Datuk Muhammad Abdullah, the ruling chief (Undang Luak Johol) of Johol, as its new independent non-executive chairman.

Key Takeaways:

  • New Chairman Appointment: Muhammad, 58, replaces Chan Kay Ding, who resigned due to personal commitments after serving the company for five months since February 22.

  • Background and Expertise: As the ruling chief of Johol, Muhammad oversees land management, customary laws, and traditional ceremonies, preserving the cultural heritage of the Luak Johol community in Negeri Sembilan. He also has a background in education and financial services, as stated by HB Global.

  • Board Expansion: HB Global has also appointed two new independent non-executive directors:

    • Chin Nyat Fwu: Currently a senior general manager at investment holding company Selangor Holdings Sdn Bhd.
    • Elizabeth Siew Wai Kit: A partner at Messrs Gan & Zul.

  • Chairman's Vision: "I am excited by the strategic plans in place to turn the company around and look forward to supporting the team. Together with the newly appointed independent directors, we aim to bring fresh perspectives and renewed energy to the board, working collaboratively to guide HB Global towards a brighter future,” said Muhammad.

  • Financial Performance: HB Global has been reporting full-year losses since the financial year ended December 31, 2020 (FY2020). For the first quarter ended March 31, 2024 (1QFY2024), the group’s net loss widened to RM7.9 million from RM4.72 million a year earlier, due to higher selling and distribution expenses. However, revenue increased slightly to RM11.8 million from RM11.55 million, driven by higher sales from its Chinese subsidiary, Shandong Hengbao Foodstuffs Co Ltd.

  • Market Reaction: Shares in HB Global closed unchanged at 14 sen on Monday, giving the group a market capitalisation of RM109.48 million. The stock has risen 55.5% since the start of this year.

HB Global's recent board appointments, including the new chairman, signal a strategic effort to revitalize the company and leverage diverse expertise to navigate its financial challenges.

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