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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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PMB Technology to Raise RM300 Million from Rights Issue

 

PMB Technology Bhd (KL) has announced plans to raise approximately RM300 million through a rights issue, subject to the final issue price and basis of entitlement.

Key Takeaways:

  • Rights Issue Proposal: PMB Technology, involved in metallic silicon and aluminium manufacturing, construction, and fabrications, aims to raise RM300 million. The exact amount will be finalized and announced later.

  • Current Shares: As of July 26, 2024, PMB Technology has issued 1.62 billion shares, including 25.2 million treasury shares. The company intends to retain these treasury shares and will not divest or distribute them before the entitlement date.

  • Use of Proceeds: The funds raised from the rights issue will be used to repay bank borrowings and cover expenses incurred during the exercise. The initiative aims to strengthen the group’s financial position and reduce its gearing.

  • Shareholder Participation: The proposed rights issue provides shareholders with an opportunity to participate in an equity offering on a pro-rata basis, allowing them to be involved in the group’s future growth and prospects.

  • Timeline: Subject to approvals from relevant authorities and barring unforeseen circumstances, the rights issue exercise is expected to be completed in the fourth quarter of 2024.

PMB Technology’s move to raise funds through a rights issue is designed to enhance its financial stability and provide shareholders with a chance to invest further in the company's growth.

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