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
Here’s a brief roundup of notable corporate news from Friday:
Affin Bank Bhd: The Sarawak government increased its stake in Affin Bank to 31.25% from 4.8%, becoming the largest shareholder. The state acquired the additional stake through its unit SG Assetfin Holdings Sdn Bhd by signing a share purchase agreement with Lembaga Tabung Angkatan Tentera (LTAT) and Boustead Holdings Bhd.
Gamuda Bhd: Gamuda secured a A$243 million (RM702 million) contract to construct the Boulder Creek Wind Farm in Queensland, Australia. The project involves 38 turbines with a total capacity of 228 megawatts and is expected to be operational by 2027.
HeiTech Padu Bhd: HeiTech Padu is acquiring a 30% stake in Souqa Fintech Sdn Bhd, the owner of the PayHalal Islamic payment gateway, for RM16.17 million. The investment will be funded partly by cash and partly by services.
Bintai Kinden Corp Bhd: Bintai Kinden is focusing on its construction division to exit Practice Note 17 (PN17) status, with plans to diversify its assets and undertake a capital reduction and private placement to improve its financial position.
Kim Loong Resources Bhd: Kim Loong reported an 8.9% drop in its second-quarter net profit due to lower crude palm oil (CPO) extraction rates, despite a rise in revenue. It declared an interim dividend of five sen per share.
Propel Global Bhd: Propel Global is planning a private placement to raise RM8.25 million for business expansion. Additionally, it is increasing its stake in Best Wide Engineering to 90% from 51% by acquiring a 39% stake for RM6.19 million.
Crescendo Corporation Bhd: Crescendo reported a more than 30-fold surge in its second-quarter net profit, driven by data centre-linked land sales in Johor. It declared an interim dividend of one sen and a special dividend of five sen.
PT Resources Holdings Bhd: PT Resources’ plan to develop a RM1 billion supply chain park in Kuantan has fallen through. The company also reported a 5.75% rise in its first-quarter net profit and declared an interim dividend of 0.99 sen.
Astino Bhd: Astino, a manufacturer of flat steel products, posted a 63% increase in net profit for the fourth quarter, attributed to stronger sales and improved profit margins. The company proposed a final dividend of one sen per share.
Signature International Bhd: Signature International is transferring ownership of its subsidiaries into a new entity, Signature Alliance Group Bhd (SAG), ahead of a planned IPO. The IPO will involve issuing 260 million shares, representing 26% of SAG’s enlarged share base.
Talam Transform Bhd: Talam proposed a five-to-one share consolidation and a capital reduction to offset accumulated losses. The company also plans a private placement to raise RM21.33 million for repaying borrowings and working capital.
Citaglobal Bhd: Citaglobal signed a term sheet with LAWI Engineering GmbH of Germany to collaborate on waste-to-energy (WTE) projects in Malaysia, with the goal of listing the division as a standalone entity within five years.
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