- MThe manufacturing sector is pleading for help to Putrajaya
- Gamuda secure a multi-billion Ringgit contract in Taiwan
- The Thai PM is suspended from her role
IN Malaysia
The manufacturing sector is raising the white flag
Malaysian Knitting Manufacturers Association president Wayne Lian has sounded the emergency SOS, calling Putrajaya to re-evaluate the tax scope of the expanded Sales and Service Tax (SST), as the manufacturing sector is at risk of suffering from the ‘triple blow’ – rising cost, higher tax burdens and inflation. External factors such as the heightened geopolitical tension have increased the price of raw materials, while domestic policies such as an increase in minimum wage, diesel subsidy rationalisation, higher electricity and natural gas tariffs, implementation of the e-invoicing system and mandatory 2% EPF contributions for foreign workers have put a significant downward pressure on profits. The act of dumping low-priced imports from China is also not helping the local manufacturing companies. Putrajaya need to be very careful in imposing more cost pressures on local companies, as to be frank, the manufacturing sector is not NGOs and they are for-profit entities. If they cannot find a way to make money, it is either bungkus or flight.
Source: https://www.thestar.com.my/news/nation/2025/07/01/manufacturing-sector-raises-triple-blow-concerns
Business news
- 12 fund managers to receive the nod from KWAP – Retirement Fund Inc. (KWAP) has shortlisted 12 external fund managers as ‘general partners’ for the RM6 bil Dana Pemacu initiative. The fund managers will respectively be handed separate fund portfolios, ranging from private equity, infrastructure, to real estate. Launched in May 2024, Dana Pemacu aims to channel funds into shariah-compliant investments focusing on high-growth Malaysian companies and critical sectors.
Source: https://theedgemalaysia.com/node/760718
- Gamuda to Taiwan – Gamuda is mendonia globally as the construction giant has recently secured an RM3.72 bil project to build a wharf and connecting bridges for the Kaohsiung Port Intercontinental LNG Terminal Construction Project in Taiwan. This is not Gamuda’s first foray in Taiwan, as the company has been involved in Taiwan’s infrastructure since 2022. In the overall picture, Gamuda’s overseas operations are an important aspect for the company’s revenue-generating activities, accounting for two-thirds of the group’s total revenue in the first nine months of the financial year ending July 31, 2025 (FY25).
Source: https://www.thestar.com.my/business/business-news/2025/07/01/gamuda-docks-another-deal-in-taiwan
- Updates on the MMC Port’s IPO – Normally, companies go public for one main reason: to raise cash to fund expansion projects. However, for MMC Port Holdings Bhd, the fund raised from the initial public offering (IPO) will directly goes to the pocket of its major shareholder, Syed Mokhtar Al-Bukhary, where he could potentially pocket a whopping RM8.5 bil. MMC Port stated that the company presently does not require additional equity funding for the business.
Source: https://theedgemalaysia.com/node/761004
Shorts
- KLIA Aerotrain is now live – After more than two years of not operating and forcing KLIA travellers to use the bus to go to the satellite terminal, finally, Transport Minister Anthony Loke has signed off on the papers, officially clearing the KLIA Aerotrain to resume operations. The upgraded aerotrain now features three-carriage sets, each capable of carrying 270 passengers per trip. It cost the government RM456.1 mil to replace the new 1.2km aerotrain line.
Source: https://thesun.my/malaysia-news/klia-s-aerotrain-is-back-first-departure-at-10am-tomorrow-FO14380261
Ferrari kalah to a Malaysian company – Who says Malaysian company tak power, as takde guruh, takde ribut, tetiba the High Court has ruled that the ‘Wee Power’ logo owned by local energy drink brand Sunrise-Mark Sdn Bhd is not similar to Ferrari SpA (Ferrari)’s iconic ‘Prancing Horse’ emblem. The court ordered Ferrari to pay legal costs. Classic Ferrari, losing on and off the Formula 1 tracks.
Around the SEA
Thailand is in another leadership crisis
It might be the end of the road for Thailand’s PM Paetongtarn Shinwatra as the Constitutional Court has suspended her from the role as the PM, pending a case seeking her dismissal. The whole thing is prompted due to the leak of a politically sensitive telephone conversation with Cambodia’s influential former leader, Hun Sen, last month. In the interim, Deputy PM Suriya Juangroongruangkit will become the caretaker PM. Hopefully, anyone who takes the baton as the next Thai PM will still put the development of the Thai-Malaysia border region as one of his or her priorities. Kitonya nak cari makan kat sini.
In a separate matter, as one of her last acts as the PM, Thai PM Paetongtarn announced that unlawful design and construction practices were the main reason behind the 9/11-ish, still-under-construction Office of the Auditor General (OAG) building’s collapse during the March 28 earthquake. Critical issues were found in the shear walls, specifically, the elevator shaft and stairwell walls, which are supposed to resist lateral forces. While steel and general concrete used in the project met standard requirements, the actual concrete mix and construction practices were not up to standard for this particular project. However, at this moment, no party had been reprimanded yet for the building’s collapse.
https://x.com/sentdefender/status/1905518960096973262
Japan says fish you to Trump
Despite US President Donald Trump’s complaints that Japan is not buying enough US rice, Japan stick to its guns and will not sacrifice the agricultural sector as part of its tariff talks with the US. However, the reason behind it is more political than economic, as the farm sector has traditionally been an important voting bloc for Japan’s PM Shigeru Ishiba’s Liberal Democratic Party, which faces key upper house elections on July 20. At the moment, despite the appetite from Japan to buy US rice, is there, due to the skyrocketing price of local rice, Japan still caps tariff-free imports of staple rice at 100,000 metric tonnes a year and imposes a levy of USD2.37 per kg for anything beyond that. Due to this standoff, despite three months of talking, Japan has still not secured a trade deal with the US and is still suffering from the 25% tariff on Japanese cars and a 24% reciprocal tariff on other Japanese imports.
For your EYES only
Proton recently unveiled its facelift version of its popular Proton X50, and I could just say wow.
