Farce of Nobel Prize nominations
Some in the country argue it is unfair to only nominate Trump, given that Malaysia, as Asean chair, played a pivotal role in the ceasefire leading to the peace accord.
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The Star
16 minutes ago
- The Star
Chip sector on edge over tariffs
ALL too soon, another upheaval is looming for the semiconductor sector. On Thursday, US president Donald Trump sent shockwaves through the industry, threatening a 100% tariff on 'chips and semiconductors' imports – but not for companies that are 'building or have committed to build in the US'. And the reaction from our players was as expected. 'If the United States really goes ahead with the 100% tariff, our semiconductor foreign direct investment will be severely impacted,' QES Group Bhd managing director and president Chew Ne Weng tells StarBiz 7. QES, an automated test equipment (ATE) player, generates about 40% of its revenue from multinational corporations (MNCs) in the United States, Europe, Japan, Taiwan and South Korea along with about 5% from local and Chinese outsourced semiconductor assembly and test (Osat) clients. Chew says affected companies will likely only ship products meant for the US market to the United States, with the balance redirected to other intended countries to avoid the 100% tariffs. Currently, US MNCs operating manufacturing sites across multiple countries will consolidate their inventory in the United States for global distribution. 'Semiconductor MNCs and even local Osats will have to re-plan their expansion strategies, which will affect the ecosystem of ATE players,' he says. Chew adds these changes will take time – at least three years – to move production to the United States. 'Hopefully, this will ease the immediate impact and allow for a more gradual shift, with the hope that Trump's reign will end by 2028,' he says. For QES, it may have to re-strategise by localising its manufacturing strategy with a 'made in US for US' and 'made in China for China' approach. However, for now it is business as usual as the group's exposure to the US market is very minimal, at less than 3% of total revenue. 'We will not rush to set up a manufacturing site in the United States and will monitor the situation over the next 12 months or so. The group will also explore options with our US-based joint venture partner, Applied Engineering Inc, to mitigate the impact from tariffs,' he says. Trump's 100% tariff salvo came barely a week after Ministry of Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz confirmed that local semiconductor exports to the United States will remain exempted from the 19% reciprocal tariffs it imposed on Malaysia. Tengku Zafrul stressed the exemptions are conditional and could change depending on Washington's evolving policies – particularly the outcome of the ongoing Section 232 investigation, which was initially expected to conclude in December. Section 232 allows Trump to impose tariffs on foreign products in the interest of national security. Although the proposed 100% duties cannot be enacted until this investigation is completed, Trump's latest warning suggests that a decision may be reached sooner than originally anticipated. Malaysia exported RM119bil worth of electrical and electronics products to the United States in 2024, with semiconductors alone accounting for RM60.6bil. Of those semiconductor exports, 68% came from American companies based in Malaysia. The country also supplies around 25% of the United States' semiconductor test and assembly needs. Other local semiconductor businesses believe it is too early to tell how the punitive tariffs will affect their operations. Mi Technovation founder and group chief executive officer Oh Kuang Eng says the company is gathering feedback from its customers. 'At this stage, we do not anticipate any changes and will continue with our expansion as planned. We will closely monitor developments over the next couple of weeks,' he says. Oh maintains that given the group's minimal trade exposure to the United States, at around 1% of its business, the impact from the potential 100% tariffs on the sector 'would not be significant'. Another semiconductor company, speaking on the condition of anonymity, says the 100% tariff will 'certainly impact capital expenditure (capex) planning, overall business and the entire semiconductor industry'. The firm says it is business as usual as the impact will mainly be on its customers who have yet to take any action. It remains hopeful that tariff exemptions may be granted based on Harmonised System (HS) code classifications when exporting goods to the United States. 'We are taking a prudent yet forward-looking approach. We are proceeding with strategic capital investments, especially in areas backed by committed demand or long-term agreements. 'At the same time, we are actively exploring alternative material sources, strengthening regional supplier partnerships, and engaging with key stakeholders to reinforce the resilience of our supply chain,' it adds. HS codes are special numbers used by customs to identify what type of product you are trading. At this stage, key details like whether the tariff on the sector will apply to the product, component, company or country level, remain unknown. It is also unclear which products or HS codes count as 'semiconductors and chips' under the new tariff, or how derivative products (such as electronics containing chips) will be treated. Some experts view the 100% tariff as more posturing than enforceable policy to accelerate reshoring efforts back to the United States. Looking at the present carve-outs, it does suggest the tariff ruling is likely to be on a company-by-company basis rather than a blanket tariff rate. 'Nobody knows the impact as of today. Firstly, it is subject to the category of semiconductor products. Bear in mind, Malaysia does not fabricate any chips and sell them to the United States,' Public Investment Bank Research senior analyst Chong Hoe Leong says. Chong says relocation due to the tariffs is 'highly unlikely' for Malaysian players due to the high set-up and operating costs. On the other hand, RHB Research senior analyst Lee Meng Horng says the majority of Malaysian-listed semiconductor and technology supply chain companies do not directly export integrated circuits, components or equipment to the United States, thus limiting their direct exposure to the proposed tariffs. 'Most of the listed players (except for a few with high customer concentration) have direct US exposure of less than 10%, if any,' he says. That said, Lee is of the view that a full-scale tariff implementation could disrupt global trade flows. With the United States accounting for roughly 10% to 15% of global semiconductor demand, he says a worst-case scenario involving aggressive onshoring could pose some substitution risks for Asian manufacturing bases. However, he opines that while the trend of onshoring advanced semiconductor activities (like design, research and development, and front-end wafer fabrication) to the United States is already underway, it is unlikely to be the same for back-end semiconductor processes. According to Lee, the latter, which account for less than 30% of the total value chain and typically operate at lower margins, are unlikely to be fully onshored due to their lower economic returns and scale-dependent nature. Moreover, Phillip Nova senior analyst Danish Lim says equipment makers would feel the pain indirectly via second order effects should the 100% tariff be imposed. He highlights that in the worst-case scenario, Osats shipping to US customers could see margins take a hit unless customers absorb tariffs or relocate assembly. 'Local tool and automation makers (Vitrox Corp Bhd , Pentamaster Corp Bhd , Greatech Technology Bhd ) could see indirect risks as Osats could freeze capex and delay new orders,' he says. Lim says it is 'certainly possible', should strict chip sectoral tariffs be imposed on Malaysia, that global original equipment manufacturers and US semiconductor firms may accelerate pushing for 'friend-shoring' elsewhere or require Malaysian partners to establish US-based production lines. This could pressure domestic Osats and toolmakers to invest overseas, dilute domestic expansions or reconfigure their global manufacturing footprint.
The Star
2 hours ago
- The Star
Asean News Headlines at 10pm on Sunday (Aug 10, 2025)
Malaysia: * Sultan Ibrahim's state visit to Russia strengthens bilateral ties / King returns home after maiden state visit to Russia * Well-wishes, prayers pour in for Anwar on his 78th birthday * Malaysia, Asean missions celebrate Asean Day 2025 in The Hague * UPUOnline records 511,006 admissions for public universities * Jalur Gemilang must be displayed correctly, says Loke * Zara Qairina autopsy completed / Lawyer denies Zara's screams captured in viral recording * Don't hinder police probe into Zara Qairina's death, says Hajiji * Shafie pledges no corruption, only progress for Sabah * Police busts ganja syndicate in Kelantan, seize 35kg of cannabis, pistol * Johor cops detain four bikers for reckless riding in Iskandar Puteri * Tackling teen vaping Sarawak, ministry develops working paper * Penang plans new tuna port to boost landings * Nancy: Ministry acting, not silent on student's case * Woman loses more than RM2.33mil in elaborate love scam * Malaysia's pursuit of 123 Agreement shows commitment to safe, reliable nuclear partnership Singapore: * Singapore's biggest corporate scandal - the criminal trial of Hyflux founder Olivia Lum and five others starts on Aug 11 * Italian Brainrot: the AI memes only kids know these days, but a real blur for most adults * 'Last' meals: How durian, chilli crab and KFC bring comfort to the dying in Singapore * 50 evacuated after HDB flat catches fire in Jalan Bahagia * Bridge-building for mutual prosperity - Two countries that had been joined went their separate ways 60 years ago Indonesia: * South Korea to send special envoys to Indonesia this week: Presidential Office * 'Kebaya': Living history, modern elegance in Indonesia * Bali cracks down on unruly tourists * Review: 'Ninja Gaiden: Ragebound' lovingly revives classic 2D experience * Top Chinese diplomat Liu Jianchao taken in for questioning, say reports Thailand: * Consular aid for M'sians set on fire in Bangkok * Chinese influencer in Thailand shares trafficker-taken photos online to find birth family * Thai King endorses Vitai Ratanakorn's appointment as Bank of Thailand Chief; new man has promised to improve country's economy * Cannabis reclassification boosts tourism, say Thai tourism associations * Would you eat 'Reptile Egg' dessert? Here's the story behind Khanom Khai Hia! An Indonesian performer dressed in an origami-themed costume takes part in a 3.6-kilometer parade during the Jember Fashion Carnival in Jember, eastern Java island, on Sunday, August 10, 2024. -- Photo by Juni KRISWANTO / AFP Philippines: * Three killed and one injured in clash in southern Philippines * Marcos says court order has no bearing on the Merits of VP Duterte's impeachment case * Nearly P3mil shabu seized in Zamboanga weeklong ops * Philippine House resolution seeks probe into Bureau of Correction's alleged rights violations Vietnam: * World Police Music Festival 2025 opens in Hanoi * Vietnamese man remanded for attempted kidnap, shoplifting * Vietnamese police bust cross-border surrogacy ring, rescue 11 infants * Bus crashes into two vehicles on Genting descent, no fatalities reported Myanmar: * Anti-vice raids arrest 288, including over 60 Myanmar GROs * Heavy rains and strong winds expected in Myanmar from August 10 to 15 * PEACE TALK 2025 concludes in Myanmar with 12 short-term recommendations and 10 long-term action plans Cambodia: * Thailand claims three soldiers injured by landmine along border, Cambodia strongly refutes * Military attachés inspect conflict-affected areas, sanctuaries in Cambodia Laos: * Preah Sihanouk governor orders medical care for 'lost' Thai national * Australian international school donates 111 million kip to province in north-eastern Laos Brunei: * China's "HYSY 295" vessel begins maiden Brunei marine mission * Brunei boosts rice production to achieve self-sufficiency An Indonesian performer dressed in allograph-themed costumes takes part in a 3.6-kilometer parade during the Jember Fashion Carnival in Jember, eastern Java island, on Sunday, August 10, 2024. -- Photo by Juni KRISWANTO / AFP AseanPlus: * A fine achievement - Malaysian darters qualify for WDF World Cup after an absence of 14 years * Police seek witnesses in child molestation case involving Bangladeshi worker * Bangladesh chief advisor Dr Muhammad Yunus to undertake official visit to Malaysia * Malaysia, Australia celebrate 70 years of deepening strategic partnership * Ipoh to strengthen ties with Nanning, China on trade, tech exchanges * Kelantan police hunting two friends linked to singer Eda Ezrin's case * Ex-Malaysian beauty queen achieves second climbing record * 'Heartbreaking': Bear in India refuses to abandon dying cub struck by speeding car * China's chipmakers to see small impact from Trump's 100% tariff on imports: CLSA * 'Reduce reliance': Can US and Europe break free from China's rare earth grip? * South Korea's military has shrunk by 20% in six years as male population drops * Celebrity Style: Blackpink's Jisoo is effortlessly chic and always on point * UN Security Council holds urgent meeting on Israel's Gaza City plan * US debuts hypersonic missile in Australia. Is it a deterrent against China? * China rocket shortage means it may have to pick a favoured Starlink challenger * Japan's Shinmoedake volcano erupts, sending ash plume well above 3,000m * Two Japanese boxers die after brain injuries at the same Tokyo event * Chinese state media says Nvidia H20 chips not safe for China * China's fiery baijiu spirit evolves to attract younger drinkers * Seven dead after wall collapse in India's capital * Death toll from northwest China floods rises to 13 * Man in critical condition following shooting in eastern Australia * North Korea begins dismantling propaganda loudspeakers along border * Warning against adult pacifiers cites potential health hazards * Yomiuri sues US AI startup over use of articles; Perplexity allegedly used over 100,000 news stories * Bomb threat reported at South Korea's Olympic gymnastics arena; delaying concert by K-pop top group The Boyz * A region on the move - Youth mobility across Asean remains limited by fragmented visa systems * Athletics - Indian Open: Muhammad Azeem wins gold, Danish Iftikhar bronze in 100m sprint * Football - From Malaysia to Portugal, towering defender Paarveen takes giant leap * Football - Ex-Perak coach Teong Kim awarded RM1.04mil in unfair dismissal case
Malay Mail
3 hours ago
- Malay Mail
A peace deal or a surrender? Armenians divided over US-backed treaty with Azerbaijan
YEREVAN (Armenia), Aug 10 — The streets were almost deserted in Yerevan Saturday because of the summer heat, but at shaded parks and fountains, Armenians struggled to make sense of what the accord signed a day earlier in Washington means for them. The leaders of Armenia and Azerbaijan, two Caucasian countries embroiled in a territorial conflict since the fall of the USSR, met Friday and signed a peace treaty under the watch of US President Donald Trump. In Yerevan, however, few of the people asked by AFP were enthusiastic. 'Acceptable' 'It's a good thing that this document was signed because Armenia has no other choice,' said Asatur Srapyan, an 81-year-old retiree. He believes Armenia hasn't achieved much with this draft agreement, but it's a step in the right direction. 'We are very few in number, we don't have a powerful army, we don't have a powerful ally behind us, unlike Azerbaijan,' he said. 'This accord is a good opportunity for peace.' Maro Huneyan, a 31-year-old aspiring diplomat, also considers the pact 'acceptable', provided it does not contradict her country's constitution. 'If Azerbaijan respects all the agreements, it's very important for us. But I'm not sure it will keep its promises and respect the points of the agreement,' she added. 'Endless concessions' But Anahit Eylasyan, 69, opposes the agreement and, more specifically, the plan to create a transit zone crossing Armenia to connect the Nakhchivan region to the rest of Azerbaijan. 'We are effectively losing control of our territory. It's as if, in my own apartment, I had to ask a stranger if I could go from one room to another,' she explains. She also hopes not to see Russia, an ally of Armenia despite recent tensions, expelled from the region.' Anahit also criticises Prime Minister Nikol Pashinyan for 'making decisions for everyone' and for his 'endless concessions to Azerbaijan'. 'We got nothing in exchange, not our prisoners, nor our occupied lands, nothing. It's just a piece of paper to us,' she fumes. Shavarsh Hovhannisyan, a 68-year-old construction engineer, agrees, saying the agreement 'is just an administrative formality that brings nothing to Armenia.' 'We can't trust Azerbaijan,' Hovhannisyan asserted, while accusing Pashinyan of having 'turned his back' on Russia and Iran. 'It's more of a surrender document than a peace treaty, while Trump only thinks about his image, the Nobel Prize.' 'More stability... in the short term' According to President Trump, Armenia and Azerbaijan have committed 'to stop all fighting forever; open up commerce, travel and diplomatic relations; and respect each other's sovereignty and territorial integrity.' For Olesya Vartanyan, an independent researcher specializing in the Caucasus, the Washington agreement 'certainly brings greater stability and more guarantees for the months, if not years, to come.' But given the long-lasting tensions between Armenia and Azerbaijan, 'I fear that we will have to plan only for the very short term,' she said. — AFP
