- U Mobile to go IPO as early as 1Q2026
- Bangkok – Kuala Lumpur to be revived again soon
- PAP retain its nearly 60 years power in Singapore
IN Malaysia
Yes – it is about the Trump tariff again
Trade and Industry Minister Tengku Zafrul Abdul Aziz stated that Washington has four main demands that Malaysia has to fulfil in order to get the tariff discount (not elimination, eh). The four demands from Yang Maha Mulia Amerika Syarikat are –
- The reduction of the US-Malaysia trade deficit. Based on US data, Uncle Sam stated that they have a trade deficit with Malaysia amounting to RM105.25 bil;
- Mitigation of non-tariff barriers, such as the long process to obtain a halal certification. Other forms of barriers are high excise taxes and restrictive import restrictions for alcoholic beverages and motor vehicles, and limits on foreign ownership in firms operating in some sectors of the economy;
- Emphasis on safeguarding of US technology, i.e. to ensure goods such as chips are not being shipped or smuggled to other nations;
- Malaysia’s effort to invest in areas that the US approve in order to support their industries. Zafrul stated that Malaysian GLCs and GLICs alone have invested close to RM189.4 bil into the bond and equity markets in the US.
In a separate event, PM Anwar Ibrahim said that he is confident that the US will grant tariff concessions to Malaysia. However, the negotiations between the two countries are still in the early stage and despite the outcome, Malaysia will surely miss its economic growth forecast of 4.5% – 5.5% this year. PM Anwar noted that the International Monetary Fund has projected slower growth for Malaysia as a result of the tariffs, at an estimated 4.1% growth rate.
While all cards are on the table in getting a middle ground on the tariff rate for Malaysia, our country has gone ahead to curry favours from the US in getting a more favorable term by imposing stricter rules to ensure exports to the US are properly documented, in a bid to curb the transshipment of products that do not originate in Malaysia. Transhipment is a practice where countries such as China seek to sidestep American tariffs by routing exports via another country to disguise their true origin. Starting from May 6, the Ministry of Investment, Trade and Industry (Miti) will be the sole body to issue non-preferential certificates of origin (NPCOs) for shipments to the US, stopping the issuance of these certificates from Miti-appointed organisations like local business councils, chambers or associations. The NPCO is a document that helps to identify the origin of the goods for international shipments in order to satisfy the Customs or trade requirements of the countries the products are shipped to. This move will aim to eliminate any loopholes in the issuance of the NPCOs.
As for Putrajaya’s wider strategy on this matter, it is clear that the strategy to handle the Trump’s tariff matter is to strike a balancing act, trying to gaslight the US while at the same making sure our Big Brother China is not pissed with us. But personally, the solution is very not sustainable. I know diplomacy is the best policy but we will not have a good negotiator like PM Anwar and Minister Tengku Zafrul until the end of time. We should approach an alternative strategy which is to increase our trade values with other partners such as ASEAN countries, the GCC countries or even African countries. It is very hard to find alternative markets such as the US and China, but we need to diversify our pot. Bak kata orang yang bijaksana, if we do not change ourselves, we will be left behind.
Shorts
- U Mobile Sdn Bhd, the entity responsible for rolling out the second 5G network in Malaysia, is planning to get listed on Bursa Malaysia as early as next year, with a projected valuation of between RM11 bil to RM12 bil. The plan to go public is not new for U Mobile, as the idea has been floated as early as 2014. U Mobile is expected to raise between RM3 bil and RM4 bil, which would make its IPO the largest in eight years, bigger than 99 Speed Mart Retail Holdings that raised RM2.36 bil last year. U Mobile’s largest shareholder is Singapore-based Straits Mobile Investment Pte Ltd with a 48.25% stake. The second-largest shareholder is His Majesty Sultan Ibrahim, King of Malaysia, with a 22.31% stake.
- Transport Minister Anthony Loke announced that both Keretapi Tanah Melayu Berhad (KTM) and the State Railway of Thailand (SRT) have been given three months to carry out initial preparations to revive the Kuala Lumpur-Bangkok train operations. Loke added that the service could be rolled out swiftly, as it would make use of the existing railway line linking Bangkok, Padang Besar, Butterworth, and Kuala Lumpur.
- After Maxim, another Russian-based e-hailing service named inDrive has violated local regulations and was given a three-month deadline by the Land Public Transport Agency (APAD) to return its Intermediation Business Licence (IBL) following the company’s failure to comply with regulations introduced in 2019. In an official statement, inDrive stated that the company is currently engaging with the relevant regulatory authorities to seek further clarification.
Around the S.E.A.
How anti-Trump sentiments make the incumbents win in general elections
For the past few weeks, incumbent governments in multiple countries have managed to retain their power as the ruling governments. Those countries are –
- Singapore – The People’s Action Party (PAP) have survived the Opposition’s touted tsunami, while in reality it was just a tidal wave. The PAP not just survived but managed to retain its supermajority in the Parliament, winning 87 out of 97 seats and becoming the single party that has ruled the island nation since the independence of Singapore, nearly 60 years ago.
- Australia – Australian PM Anthony Albanese-led Labour Party expanded its majority in the lower house and boosted its ranks in the senate, fighting off the battle posed by the conservative Liberal-National coalition, which suffered a heavy defeat. The Labour Party won 85 out of 150 seats in the lower house, signifying a landslide victory during the country’s 48th general election.
- Canada – The Liberal Party, led by Canadian PM Mick Carney has managed to retain its power and won the 45th general election, securing 169 seats out of the contested 343 seats in the House of Commons. The Liberal Party will continue forming a minority government.
There is this theory that Trump is one of the key factors in why these incumbents could retain their power as the government of the day in the respective countries. In major votes in Canada and Australia over the past two weeks, centrists saw their fortunes revived, while parties that had borrowed from the MAGA playbook lost out. While it is too soon to say that anti-Trump forces are on the rise globally, it is clear that voters have Mr. Trump on their minds as they cast their ballots.
Source: https://www.nytimes.com/2025/05/04/world/canada/global-elections-trump.html
For your EYES only
How to get rich easily? Apart from scamming government retirees and siphoning public funds, you can take up fishing. A gentleman from Kuala Lipis, Pahang, just landed RM200,000 in cash for winning a fishing tournament. Baru tak kumpau – a term used by fishermen who failed to catch a fish.
“Kerja asyik memancing je, sampai bila bila takkan kaya”
Terus jadi kaya dik dapat RM200 ribu cash. Rezeki kau dik jangan lupa bagi mak ayah sikit 👍🏻 pic.twitter.com/hMbNRawZwV
— kamaghul deghaman (@kamaghul) May 5, 2025
