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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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Malaysia's Key Role in Asean Data Centre Growth, with Tenaga and YTL Power as Top Picks

Macquarie Equity Research has identified Malaysia as a leading market for data centre growth in Asean, emphasizing the country’s strong potential due to an upcoming, improved renewable energy scheme. The new Corporate Renewable Energy Supply Scheme (CRESS), expected in September, aims to resolve bottlenecks in solar power supply, enhancing Malaysia's attractiveness for data centre investments.

Key Takeaways:

  1. Malaysia's Position in Asean Data Centre Market: Malaysia is poised for significant growth in data centre demand, with a forecast of 5.6 Gigawatts (GW) over the next 10 years, placing it just behind India. This growth is driven by expanding digital infrastructure needs and renewable energy initiatives, despite alternative forecasts by DC Bytes placing Malaysia third behind India and Japan.

  2. Top Picks for Data Centre Investments: Macquarie has named Tenaga Nasional Bhd and YTL Power International Bhd as top picks to benefit from the data centre boom. Tenaga is set to capitalize on rising energy demand, while YTL Power, in partnership with Nvidia, is establishing a regional leadership position in providing graphics processing units (GPUs) as a service.

  3. Corporate Renewable Energy Supply Scheme (CRESS): The new CRESS will eliminate the previous 30-Megawatt (MW) project quota, potentially boosting renewable energy supply for data centres. However, concerns remain over access charges to use Tenaga's grid, ranging from 25 sen to 45 sen per kilowatt-hour. Despite these concerns, Macquarie does not expect major data centre operators to deviate from their renewable energy targets.

  4. Global Data Centre Demand and Infrastructure Investments: Macquarie has raised its forecasts for accelerator and server shipments, data-centre capacity, and end-power demand, reflecting strong global demand driven by advances in artificial intelligence (AI) and semiconductor manufacturing. The revised forecast predicts data-centre capacity growth from 49GW in 2023 to 164GW by 2028, a CAGR of 27%. Power consumption is expected to deliver a 23% five-year CAGR, reaching 1,257 TWh by 2028 and potentially doubling again before 2032.

These insights indicate Malaysia's strong positioning in the Asean data centre market and underline the potential for significant growth, driven by renewed infrastructure investments and robust global demand for digital services.

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