- KLIA aerotrain is still being benched
- Hartalega to win big if rubber glove trade diverted to Malaysia
- Elon Musk may purchased TikTok’s US operations
IN Malaysia
Malaysia to explore crypto and blockchain tech policy
Even before most Malaysians understood what and how blockchain works, during the Abu Dhabi Sustainability Week (ADSW), PM Anwar Ibrahim stated that his Government is formulating a policy on digital finance, which could eventually see cryptocurrency and blockchain technology recognised in Malaysia. PM Anwar added that he had talked to lengths with the Abu Dhabi Government and the world’s largest cryptocurrency platform Binance, on how both parties could help Malaysia with the plan. But seriously, I would be very rich if I got a dollar for every time someone wrongly explained the concept of blockchain to me.
Source: https://www.nst.com.my/news/nation/2025/01/1160917/pm-govt-exploring-policy-crypto-blockchain-tech
Loke is disappointed with MAHB
Transport Minister Anthony Loke is pissed with Malaysia Airports Holdings Berhad (MAHB) for being sambil lewa in addressing the delays in the matter of the aerotrain replacement project at Kuala Lumpur International Airport (KLIA). For your information, the aerotrain service that has been suspended since March 2023 supposedly should be restarted again at the end of this month with a set of fresh new trains. However, the contractors of the project are still testing the trains, where the project is under MAHB’s purview. According to Loke, they are doing dynamic testing now, and after that, they will move on to full system testing and then integrate the systems, before it can be handed over to the authorities for final testing. Even the contractors have not come back with a definite date on the aerotrain relaunch date. A consortium comprising Alstom, original equipment manufacturer Aerotrain and JMC-Pestech JV is in charge of the project. Maybe the inefficiencies within MAHB are one of the reasons why Putrajaya insisted the GLC be privatised. It worked well back then for Tenaga Nasional Berhad, we pray hard the outcome is the same for MAHB.
📹📹📹
The Aerotrain service at the Kuala Lumpur International Airport (KLIA) is still delayed and the contractor has yet to give a firm date on completion of the system’s overhaul, Transport Minister Anthony Loke said.
He told a press conference that testing is still being… https://t.co/sM28YWzJK7 pic.twitter.com/O4uprqIncN
— Scoop (@Scoopdotmy) January 15, 2025
Malaysia companies are winning big
- Yinson Holdings is on the cusp of raising USD1 bil from a group of investors including a unit of Abu Dhabi Investment Authority (ADIA) to fund the growth of Yinson’s oil and gas business and bankroll renewable energy projects. Yinson’s subsidiary, Yinson Production Offshore will issue redeemable convertible preferred shares and warrants to the investors, valuing the company at a post-money valuation of USD3.7 bil. About 20% of the fundraising proceeds will be used to fund renewable energy projects and as dividends for Yinson Holding’s shareholders.
- Our favorite glovemaker Hartalega Holdings Bhd and Kossan Rubber Industries Bhd are set to be major winners if trade is diverted to Malaysia from China, given the quality issues of Chinese gloves. According to Hong Leong Investment Bank Bhd (HLIB Research), US medical glove distributors are set to prioritise dealing with big companies in Malaysia and Hartalega is one of them. Plus, Hartelaga is in the good books of the US and has not been served with a Withhold Release Order (WRO).
Around the S.E.A.
The Impact of the US Isolationist Era
- Vietnam to suffer – Vietnam a.k.a the ‘back door for Chinese products into the US market’ may suffer a gloomy future, according to a professor at Tsinghua University, Li Daokui. Li added that the US would certainly hike up the tariffs for goods that come from Vietnam, in order to close up all rabbit holes for Chinese products to come to the US and to make Vietnam an example that countries such as China should not acah pandai with the US.
- China EV companies to cry – Lame duck US President Joe Biden is spending his last days at the Oval Office to introduce legislation to ban any Chinese technology from being installed in cars sold to the American market. US Commerce Secretary Gina Raimondo stated that cars are computers, so by having technologies originating from hostile nations such as China installed on automobiles driven on US roads, it could lead to the misuse of sensitive data or interference. But, is the Biden administration aware that about 12% of auto parts are exported from China? China is the second largest auto parts exporter in the world, behind Germany and ahead of the United States. For sure, the US consumers and US auto manufacturers will be the major losers from this ban.
- TikTok may be sold to Elon Musk – After the US Government passed the law last year that mandates TikTok’s ByteDance to sell its US operations or shut it down entirely, it was revealed that ByteDance may dispoof off its US company to Elon Musk for about USD40 – 50 bil. However, it is not confirmed that the rumour is true and even if it is, there is no clear way for Elon Musk to complete the transaction and merge TikTok into X’s multiverse. Even when Elon Musk purchased X back then for USD46.5 bil, about 43% of the money used to buy Twitter was obtained from bank loans and close rich friends.
For your EYES only
Fair point to the lad. Btw, congratulations YB Rafizi Ramli for the Datuk Seri title. Well deserved.
Nak lukis satira tu hak kau. Tapi Formula dia berjalan utk rakyat kebanyakan. IPR bantu golongan miskin. IKR salurkan peruntukan kerajaan terus ke komuniti tanpa birokrasi. NETR – peralihan tenaga. Gaji Progressive diperluas 2025. JS-SEZ baru lancar. Kau buat apa? https://t.co/9M5gS2plg4
— HG (@hg1394) January 14, 2025
