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
1. S P Setia Bhd Initiates Legal Action Against Former Executives
Property developer S P Setia Bhd has filed a lawsuit against its former senior management and a director over alleged breaches of duties related to land purchases in Kota Kinabalu, Sabah, and the sale of units under its Aeropod project. The suit names 11 defendants, including former deputy president Datuk Wong Tuck Wai, who is now CEO of IJM Land Bhd.
2. Dialog Group Sells Saudi Joint Venture Stake
Dialog Group Bhd has sold its 60% stake in its Saudi Arabian joint venture, Dialog Jubail Supply Base Company Ltd (DJSB), to its JV partner, Sedres Trading & Maritime Services Co Ltd, for RM55 million. The JV was engaged in logistics services and base oil trading in Saudi Arabia.
3. Malakoff Corp’s Power Plant Gets One-Year PPA Extension
Malakoff Corp Bhd’s subsidiary, Prai Power Sdn Bhd, received a one-year extension for its power purchase agreement with Tenaga Nasional Bhd, starting from September 1, 2024, to August 31, 2025. This extension applies to Malakoff’s 350MW Prai power plant.
4. Rohas Tecnic-Led Consortium Wins RM123m Contract
A consortium led by Rohas Tecnic Bhd has secured a RM123 million contract from Gamuda Bhd to provide fabrication and installation services for Package 2 of the Sg Rasau water treatment plant project in Selangor.
5. Varia Bhd Secures RM410m Flood Mitigation Project
Varia Bhd, previously Stella Holdings Bhd, has been awarded a RM410.3 million contract for a flood mitigation project in Segamat, Johor. The company’s wholly-owned subsidiary will act as a sub-contractor for the Sungai Muar Phase 3 Package 1 flood mitigation plan.
6. Public Bank Reports 10% Increase in Q2 Net Profit
Public Bank Bhd recorded a 10% increase in its second-quarter net profit to RM1.78 billion, driven by higher net interest and non-interest income. The bank also announced a first interim dividend of 10 sen per share, amounting to RM1.94 billion.
7. RHB Bank’s Q2 Net Profit Drops 11%
RHB Bank Bhd saw an 11% decline in its Q2 net profit to RM722.31 million, primarily due to provisions. The bank declared a cash dividend of 15 sen per share, with a payment date to be determined later.
8. FGV Holdings Returns to Profit in Q2
FGV Holdings Bhd posted a net profit of RM86.38 million for Q2FY2024, reversing a net loss of RM12.9 million from a year earlier. The positive results were driven by stronger performance in the plantation, logistics, and support divisions, offsetting weaker results in the sugar, and oils and fats segments.
9. MBSB Bhd’s Q2 Net Profit Declines 34.5%
MBSB Bhd reported a 34.5% drop in its Q2FY2024 net profit to RM54.83 million due to higher operating expenses and impairment allowances. However, quarterly revenue increased by 35% to RM960.85 million, primarily due to increased financing income and MIDF integration.
10. Gas Malaysia Reports 12.5% Increase in Q2 Net Profit
Gas Malaysia Bhd posted a 12.5% increase in Q2FY2024 net profit to RM110 million, driven by higher natural gas sales, tolling fees, and joint venture contributions. The company proposed a first interim dividend of 6.31 sen per share.
11. Sime Darby Closes FY2024 with Strong Profit
Sime Darby Bhd's net profit more than doubled to RM3.31 billion for FY2024, largely due to a RM2 billion gain from the sale of Ramsay Sime Darby Health Care. However, its Q4FY2024 net profit dropped 85.7% to RM89 million due to one-off impairments and provisions, higher finance costs, and losses in its motors division in China.
12. Inari Amertron’s Q4FY2024 Net Profit Falls 17.54%
Inari Amertron Bhd’s Q4FY2024 net profit decreased by 17.54% to RM54.68 million, impacted by unfavorable forex movements and higher operating costs, despite an 11.5% increase in revenue. The company declared a fourth interim dividend of 1.4 sen per share.
13. Malaysian Pacific Industries’ Q4FY2024 Net Profit Surges Nearly 11-Fold
Malaysian Pacific Industries Bhd reported an almost 11-fold increase in Q4FY2024 net profit to RM82.97 million, driven by higher revenue in Asia and Europe and a reversal from its executive share scheme provision.
14. Berjaya Food Swings to Loss Amid Weak Sentiment
Berjaya Food Bhd swung to a net loss of RM38.2 million in Q4FY2024, primarily due to negative sentiment related to the Middle East conflict and a significant drop in revenue. The company posted a full-year net loss of RM91.52 million.
15. Padini Holdings’ Q4FY2024 Net Profit Drops 54%
Padini Holdings Bhd’s Q4FY2024 net profit fell by 54.09% to RM26.31 million, following a decline in gross profit margin and lower outlet sales. The company proposed a one-for-two bonus issue amid the challenging quarter.
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