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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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Hong Leong Bank's 4Q Net Profit Surges Nearly 20%, Announces 43 Sen Dividend

 

Hong Leong Bank Bhd, Malaysia’s fifth-largest bank by assets, reported a strong financial performance for the fourth quarter of FY2024, with net profit rising nearly 20% year-on-year (y-o-y) to RM1.03 billion. This growth was driven by higher operating income and a writeback of provisions. The bank also declared a final dividend of 43 sen per share.

Key Highlights:

  1. Strong Financial Performance: For the quarter ended June 30, 2024, Hong Leong Bank’s net profit increased by 19.2% y-o-y to RM1.03 billion, supported by a 10.7% growth in net interest income and a 26.5% increase in non-interest income. The bank also benefited from a RM31.15 million writeback of impairment on loans.

  2. Dividend Announcement: The bank declared a final dividend of 43 sen per share for the current quarter, up from 38 sen in the same period last year, reflecting its strong financial position.

  3. Growth in Loans and Asset Quality: As of June 30, Hong Leong Bank’s gross loans and financing grew 7.3% y-o-y to RM194.9 billion, with improvements in its gross impaired loans ratio, which decreased to 0.53% from 0.57%. The bank’s loan impairment coverage ratio was robust at 155.0%, or 225.0% when including the value of securities held.

For the full financial year FY2024, Hong Leong Bank reported a 9.9% increase in net profit to RM4.20 billion, with steady growth in both net interest income and non-interest income, as well as improved asset quality metrics.

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