- Klang Valley surpassed Penang to become the country’s medical tourism hub
- Maybank’s CFO departed from the company
- All diesel sold in Indonesia will have at least 40% palm oil
IN Malaysia
The US or China question
PM Anwar Ibrahim said during the China Conference Southeast Asia in Kuala Lumpur that Malaysia will always remain neutral and non-aligned in the current geopolitical situation where countries are forced to pick a side. However, Malaysia will still view China as the main driver for regional prosperity. China has remained Malaysia’s largest trading partner for over a decade, with bilateral trade between the two countries peaking at RM841 bil in 2023.
Still, in the game of balancing act, during the same event, Trade Minister Tengku Zafrul Abdul Aziz stated that the country will continue to hold talks with Washington and is open to addressing any concerns the US has, in an effort to delay the imminent incoming of tariffs to the region. The Malaysian delegation is scheduled to meet American investors in 2Q2025 and use it as a platform to assure them Malaysia will continue to view the US as a key trading partner. Recently, the US introduced a universal 25% tariff on all steel imports, a move that seems to hurt their friends instead of China.
At the moment, China is deemed as a more trusted and reliable partner, given that the US is moving away from trade globalisation and is starting to hurt its friend with Papa Trump’s favourite economic tool – tariffs. Even ASEAN Business Advisory Council (ASEAN-BAC) chairman Nazir Razak also agreed that dealing with China is easier compared to the US. Economic ties with other countries always come with strings attached, but such ‘strings’ with China are easier to handle. On the other hand, Nazir added that regional economic integration should be the focus of ASEAN, but we should approach it using our own way, not copying the European Union model bulat-bulat.
Shorts
- Penang is currently in a ‘tanjat kita’ moment as Klang Valley has surpassed them in becoming the country’s top medical tourism hub by attracting 560,700 international patients in 2024, a nearly 15% increase compared to the 490,000 international patients admitted in 2019. Klang Valley also commands the major share of the pie – contributing 41.6% of the total revenue generated and 44.5% of the total healthcare traveller volume. But Penang is not far behind, having to generate RM866 mil in revenue compared to Klang Valley’s RM886 mil.
- While Klang Valley kene con by Tesla as the latter previously decided not to set up a plant after receiving preferential investment terms, Sabah on the other hand will have its first electric vehicle (EV) assembly plant as Maxland Auto Sdn Bhd is planning to invest RM100 mil to set up the plant at the Palm Oil Industrial Cluster (POIC) Sandakan. The decision by Maxland is timely as the company had been appointed to distribute and assemble Higer (China’s second-largest bus manufacturer) vehicles in Sabah and Sarawak on a three-year contract.
- In a surprising decision, longtime servant of Maybank Bhd and its current CFO Khalijah Ismail has departed from the company, following an internal inquiry. No justification was given for the dismissal and at the moment, another company man, Malique Firdauz Ahmad Sidiqiue will keep the CFO seat warm while Maybank is identifying a new group CFO.
Around the S.E.A.
How powerful is being present for an event – it could dictate whether you gain or lose billions
In a rare show of support to the private sector, China President Xi Jinping has organised a meetup with prominent entrepreneurs, following the recent surge in equities in Hong Kong, driven by growing capabilities in artificial intelligence. The meetup is also a nod by Beijing towards the tech sector’s role in becoming the next catalyst to prop up the world’s second-largest economy. Among the list of attendees is once sidelined founder of Alibaba, Jack Ma. Alibaba is the major driver of the rally in the Hong Kong bourse, contributing to an almost 60% surge since January 13. So far, Chinese and Hong Kong stock markets have enjoyed an RM70.9 tril boost since mid-January. I guessed the yee sang tossing does work.
Source: https://theedgemalaysia.com/node/744567
Being absent from the tech meetup with Xi has cost Baidu RM10.63 bil as the shares of the company plunged after Baidu CEO Robin Li was nowhere to be seen at the rare meeting between President Xi Jinping and corporate leaders. Shares of Baidu slid as much as 8.8% before paring losses to close down 7%. Baidu, with its market value now at RM144.51 bil, was the biggest loser on both the Hang Seng Index and Hang Seng Tech Index. So, the next time you are invited to an event or function, please do not skip it as maybe you are missing out on a fortune. Yes, I am talking to those who always skipped weddings just because.
Source: https://theedgemalaysia.com/node/744686
All diesel sold in Indonesia will now contain at least 40% palm oil
In a move to kill two birds – sustainability and demand for palm oil, with one stone, Indonesia is set to reach full implementation of its mandatory B40 biodiesel program, which contains 40% palm oil fuel, starting this March. The new B40 biodiesel will also reduce the country’s dependency on imported diesel to fuel its domestic consumption. This year, the country plans to produce 15.6 mil kilolitres of B40 diesel, which is expected to save the Government up to RM40.2 bil from cutting diesel imports.
In related news, the Indonesia state plantation fund has announced that it will set a target to replant 120,000 hectares of smallholders’ palm oil plantations in order to boost palm oil production. In 2024, the agency funded palm oil replanting for 38,247 hectares, below the targeted 70,000 hectares due to land legality issues and high palm oil prices.
Source: https://theedgemalaysia.com/node/744635
For your EYES only
Do you know that Malaysia has a law that criminalises adultery? According to Section 498 of our Penal Code, the law will punish the person outside of the marriage. Basically, the person who the spouse cheats with would get charged. Recently, the Kuala Lumpur High Court Judge Evrol Mariette Peter ordered a 38-year-old woman (the mistress) and a 74-year-old male (the husband) to pay more than RM500,000 in damages to the 72-year-old female (the wife). So to Malaysians, think twice before you want to ruin a marriage as the law is not on your side. Plus, Malaysia is the third most populous single nation in the region, with 44.68% of Malaysians living a single life (unmarried, divorced, separated or widowed). So, there are enough fish in the pond.
The 38 y.o. woman probably said to him “I could make you feel 40 again”
— Edmund 🇲🇾 (Survived Ten Hag) (@edmundkjq) February 16, 2025
