Oxford Innotech's IPO oversubscribed
The integrated engineering solutions provider said its IPO is expected to raise RM41.6mil in proceeds, involving a public issue of 143.5 million new ordinary shares at an issue price of RM0.29 per share, representing 20.2% of the enlarged share capital.
In addition, 50 million existing shares, or 7% of the enlarged share capital, were offered via private placement to selected investors and bumiputra investors approved by the Investment, Trade and Industry Ministry.
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New Straits Times
41 minutes ago
- New Straits Times
Tariff cut offers some relief but not without trade-offs
KUALA LUMPUR: Malaysia's successful push to reduce punitive United States (US) tariffs from 25 to 19 per cent offers partial relief to exporters and calms fears of a steeper economic fallout. But the reprieve, economists say, is no cause for celebration, as it is "modest at best", and likely came in exchange for Malaysia holding the line on sensitive domestic policies. COST REMAINS HIGH Economist Dr Geoffrey Williams said the revised tariff, although pitched as a win, continues to impose a heavy cost. "It just puts Malaysia in line with Indonesia and the Philippines and only marginally below Vietnam. Singapore has no reciprocal tariffs, so is way ahead of other Asean countries," he told Business Times. Williams estimated that a 10 per cent reduction in Malaysian exports to the US, the world's largest consumer market, could cost the economy RM20 billion or RM670 per person. "This is the cost of protecting Malaysian markets with non-tariff barriers and Bumiputera preference schemes," he added. POLICY RED LINE Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said Malaysia stood firm during negotiations by drawing a "red line" on domestic economic policies. He said the 19 per cent tariff rate was achieved without compromising the nation's sovereign right to implement key policies to support socio-economic stability and growth. Williams described these trade-offs as "a huge cost" to maintaining what he called Malaysia's protectionist policies. "If the 19 per cent tariff is due to refusal to remove barriers, cut Bumiputera preferences and improve trade access, then there is a huge cost to maintaining these Malaysian protectionist policies." GEOPOLITICAL RECALIBRATION Center for Market Education chief executive Dr Carmelo Ferlito said the US tariff regime should be seen as part of a broader geopolitical recalibration. He said it had become clear early on that US President Donald Trump was not aiming for high tariffs per se, but rather to compel various players to come to the negotiating table and secure broader advantages for the US. "And of course, re-affirming that the US is the biggest consumer in the world and it's important not to get out of their influence area." While short-term impacts may take time to materialise, Ferlito pointed to deeper structural consequences. "Tariffs do not directly translate into higher prices. But the medium-run outcome will be fewer occasions for trade, fewer products in the market and potentially job losses." He urged Malaysia to strengthen its structural competitiveness instead of relying on reactive government support. "The only useful government support comes from regulation that makes business easier, limiting compliance and administrative duties and slashing anything that hinders competitiveness." CAUTIOUS OPTIMISM Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the tariff reduction signals Washington's openness to negotiation. "As a result of recent discussions, the previously imposed retaliatory tariffs of 25 per cent have now been reduced to 19 per cent. Consequently, the negative impact on Malaysia's economy is expected to be slightly mitigated," he said. Even so, Afzanizam noted that external headwinds remain a concern. Bank Negara Malaysia has revised its gross domestic product (GDP) growth forecast for 2025 to a more cautious range of 4.0 to 4.8 per cent, down from an earlier projection of 4.5 to 5.5 per cent. The revised outlook was announced ahead of the 13th Malaysia Plan (13MP), which sets an annual growth target of 4.5 to 5.5 per cent between 2026 and 2030. Meanwhile, CIMB Treasury and Markets Research and Hong Leong Investment Bank (HLIB) viewed the tariff outcome as a mixed but ultimately strategic result for Malaysia. STRATEGIC COMPROMISE While CIMB Research noted that Malaysia stood firm on protecting key domestic policies, which led to a mid-tier 19 per cent rate, it also highlighted that the country still lags behind Singapore, which remains exempt. HLIB, meanwhile, described the reduction as broadly positive, saying it enhances Malaysia's competitiveness in attracting foreign investment and reinforces its role in global supply chain diversification. STAYING RESILIENT As Malaysia begins implementing the 13MP, which includes RM611 billion in total planned funding and RM430 billion in development expenditure, economists agree that long-term strategies to enhance resilience will be critical. Afzanizam said the country must invest in productivity and forge new global partnerships, particularly with Europe, the BRICS bloc and Asean neighbours. "These measures will reinforce investor and business confidence, underpinned by pragmatic policies and the government's proactive response to emerging challenges," he said. Still, external risks persist. Afzanizam said the 19 per cent US tariff could weaken consumer purchasing power in the world's largest economy, potentially dragging on global demand and growth. Williams, meanwhile, said the timing of the announcement could not have been worse. "This will certainly take the shine off the RMK13 launch on Friday and will be the immediate focus of concern," he said.
The Star
2 days ago
- The Star
Johor's water tariff adjustment: Data centres would have to pay more
JOHOR BARU: The water tariff adjustment gazetted by the Cabinet will result in data centres being charged more for the first time, says Ranhill SAJ. The chief executive officer of the water utility company, Anuar Abdul Ghani, said the new rates, which took effect on Friday (Aug 1), apply only to certain users and were meant to strengthen the quality and resilience of the state's water supply system. 'The government set RM5.33 per cubic metre rate specifically for data centres, a fast-growing sector in Johor known for its high water consumption,' he said in a statement on Saturday (Aug 2). On June 11, the Investment, Trade and Industry Ministry reportedly said that Johor was expected to host 60% of Malaysia's total data centre capacity by 2030. It was also reported that there are about 40 to 50 data centre projects in the pipeline in Johor, with 20 of them already approved. Meanwhile, Anuar said that the new tariff would not impact most domestic accounts and low-income consumers. 'The adjustment affects tier three domestic users – those consuming more than 35 cubic metres of water per month – as well as non-domestic categories. 'Tier one and tier two users, who make up most domestic accounts in Johor, will continue to enjoy the existing water tariff rates,' said Anuar. He also assured that places of worship and vulnerable groups registered under the e-Kasih programme are not affected by the new rates. He added that the minimum charge in Johor remains at RM10.50, while consumption exceeding 35 cubic metres per month would incur an additional 35 sen per cubic metre. Bulk meter users in strata housing will see an increase of 20 sen per cubic metre. 'For non-domestic users, the adjustment ranges between RM1 and RM1.75 per cubic metre, with a new minimum monthly charge of RM41.50,' he said, adding that the shipping industry would be charged RM8.03 per cubic metre. Anuar added that the tariff revision is part of efforts to modernise Johor's water supply system and ensure it can meet rising demand from rapid development and population growth. The adjustment will also support key upgrading projects, including the second phase of the Layang 2 package with a capacity of 160 million litres per day (MLD), as well as Semanggar (50 MLD) and Semanggar 3 (120 MLD), he added.
Free Malaysia Today
2 days ago
- Free Malaysia Today
Kosovo eliminates tariffs on US goods
Kosovo's caretaker Prime Minister Albin Kurti said the 0% tariff will affect the growth of trade exchange and increase investment. (EPA Images pic) PRISTINA : Kosovo on Friday eliminated tariffs on all goods from the United States, a day after President Donald Trump unveiled new tariffs on trading partners across the globe but not on Pristina. The Balkan nation had applied a 10% tariff on US goods and its goods are subject to the baseline 10% tariff that the Trump administration imposed in April. 'Kosovo welcomes American products to its market,' said Kosovo's caretaker Prime Minister Albin Kurti, announcing the 0% tariff on US goods. 'We strongly believe that this will affect the growth of trade exchange and increase investments,' he told his cabinet. Public sentiment in the landlocked territory of around 1.6 million people has been strongly pro-American since a 1999 US-led Nato air campaign that stopped the crackdown of Serbian armed forces on ethnic Albanians and paved the way for Kosovo's declaration of independence from Serbia a decade later. US flags are common in the capital, Pristina, where one of the largest avenues honours former president George W. Bush, while Bill Clinton has both a boulevard named after him and a statue in his honour.
