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
Electrical home appliances manufacturer Pensonic Holdings Bhd (KL) reported its largest quarterly net loss since its listing on Bursa Malaysia in December 1995, due to inventory write-downs.
For the fourth quarter ended May 31, 2024 (4QFY2024), Pensonic reported a net loss of RM14.28 million, compared to RM712,000 for the same quarter a year earlier. Revenue increased by 8.33% to RM85.14 million from RM78.59 million.
The inventory write-downs in 4QFY2024, totaling RM6 million, were made after considering historical consumption and sales trends, inventory ageing, and product life cycles. No dividend was declared for the quarter.
For the full financial year, Pensonic also posted its largest net loss of RM14.28 million, compared to a net loss of RM3.04 million in FY2023. This was despite a 13.31% rise in full-year revenue to RM309.57 million from RM273.20 million in FY2023.
Looking ahead, Pensonic's group CEO Dixon Chew plans to introduce new initiatives aimed at driving product and service innovations through a transformation-led approach to meet customer demand.
“The group CEO took the bull by the horns and reviewed the business operations of the group as a whole by streamlining processes, reducing costs, and enhancing productivity,” the company stated.
Shares in Pensonic settled one sen or 1.77% higher at 57.5 sen on Tuesday, valuing the company at RM87.6 million.
Key Takeaways:
- Pensonic reported its largest quarterly net loss of RM14.28 million in 4QFY2024, primarily due to inventory write-downs.
- Full-year net loss also reached RM14.28 million, despite a 13.31% increase in revenue.
- Inventory write-downs totaled RM6 million, considering various factors such as historical consumption and sales trends.
- No dividend was declared for the quarter.
- The group CEO plans to drive product and service innovations to meet customer demand.
- Pensonic shares rose by 1.77% to 57.5 sen, valuing the company at RM87.6 million.
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