Latest news with #AbdulWahidOmar
New Straits Times
26-06-2025
- Business
- New Straits Times
Malaysia has buffers to weather capital outflows
KUALA LUMPUR: Malaysia has adequate buffers to weather volatility, including capital outflows, triggered by global interest rate hikes, said International Centre for Education for Islamic Finance (INCEIF) University Professor of Practice Tan Sri Abdul Wahid Omar. Abdul Wahid, who is also a former Bursa Malaysia chairman, noted that the country has sufficient international reserves to cover a good number of months of retained imports and short-term debt obligations. "We also have many investments abroad. I think it is not just about foreign investments here (in Malaysia) but also about our domestic investors investing abroad as well. "That provides the flexibility to meet the challenges," he told Bernama on the sidelines of the Islamic Finance Future Leaders Bootcamp 2025, here today. Abdul Wahid also highlighted that while equity markets experienced both inflows and outflows in recent months, such movements are cyclical. "When it comes to the financial market movements, initially, it will happen from time to time. But everything is relative. We have seen significant outflows in the equities market, and we had a positive inflow in May. But the situation reversed in June. Everything is relative. "There will come a time when some of this money will come back to Malaysia. As long as we focus on the fundamentals, there will be that fluctuation. But in the longer term, money will flow back to an economy that is growing," he said. Commenting on Malaysia's economic prospects, Abdul Wahid said that the shift away from commodity dependence over the years has strengthened the country's economic fundamentals and positioned it to better absorb external shocks. "The diversified structure of our economy has been improving over the years. The economy is mainly driven by the services and manufacturing sectors today. This (diversified structure) is not something that has occurred overnight. "Once we have that diversified structure of the economy and are committed to managing government funds, including reducing the fiscal deficit, we are going to make the economy more resilient," he said. Abdul Wahid noted that Malaysia's economy grew by 5.1 per cent last year, and without current external pressures, it would have been on track to achieve a growth rate between 4.5 to 5.0 per cent in 2025. "However, given what's happening, we can expect a lower growth towards the bottom of 4.0 per cent to 5.0 per cent range. But a 4.0 per cent growth projected by consensus is still credible, given the challenges that we have globally today," he added.
The Star
25-06-2025
- Business
- The Star
Malaysia has buffers to weather capital outflows
KUALA LUMPUR: Malaysia has adequate buffers to weather volatility, including capital outflows, triggered by global interest rate hikes, said International Centre for Education for Islamic Finance (INCEIF) University Professor of Practice Tan Sri Abdul Wahid Omar. Abdul Wahid, who is also a former Bursa Malaysia chairman, noted that the country has sufficient international reserves to cover a good number of months of retained imports and short-term debt obligations. "We also have many investments abroad. I think it is not just about foreign investments here (in Malaysia) but also about our domestic investors investing abroad as well. "That provides the flexibility to meet the challenges,' he told Bernama on the sidelines of the Islamic Finance Future Leaders Bootcamp 2025, here today. Abdul Wahid also highlighted that while equity markets experienced both inflows and outflows in recent months, such movements are cyclical. "When it comes to the financial market movements, initially, it will happen from time to time. But everything is relative. We have seen significant outflows in the equities market, and we had a positive inflow in May. But the situation reversed in June. Everything is relative. "There will come a time when some of this money will come back to Malaysia. As long as we focus on the fundamentals, there will be that fluctuation. But in the longer term, money will flow back to an economy that is growing,' he said. Commenting on Malaysia's economic prospects, Abdul Wahid said that the shift away from commodity dependence over the years has strengthened the country's economic fundamentals and positioned it to better absorb external shocks. "The diversified structure of our economy has been improving over the years. The economy is mainly driven by the services and manufacturing sectors today. This (diversified structure) is not something that has occurred overnight. "Once we have that diversified structure of the economy and are committed to managing government funds, including reducing the fiscal deficit, we are going to make the economy more resilient,' he said. Abdul Wahid noted that Malaysia's economy grew by 5.1 per cent last year, and without current external pressures, it would have been on track to achieve a growth rate between 4.5 to 5.0 per cent in 2025. "However, given what's happening, we can expect a lower growth towards the bottom of 4.0 per cent to 5.0 per cent range. But a 4.0 per cent growth projected by consensus is still credible, given the challenges that we have globally today,' he added. - Bernama
The Star
04-06-2025
- Business
- The Star
Trading ideas: Cypark, CapitaLand, Ta Win, Deleum, Zelan, Ramssol, Edelteq, Oasis, UUE, Taghill, Kawan Renergy
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Cypark Resources Bhd has announced a slew of boardroom changes, including the appointment of former Bursa Malaysia chairman Tan Sri Abdul Wahid Omar as its new chairman and independent non-executive director, effective June 9. Capitaland Malaysia Trust plans to raise up to RM250mn through a private placement of up to 435.4 million new units, mainly to repay bank borrowings. Ta Win Holdings Bhd is disposing of a parcel of industrial land with a single-storey detached factory in Port Klang to Metal Recovery Industries Sdn Bhd for RM44.5mn. Deleum Bhd has completed its USD7mn (RM31.3mn) acquisition of a 70% stake in Indonesia-based PT OSA Industries. Zelan Bhd has been ordered by an arbitral tribunal to pay RM22.4mn plus interest to subcontractor Landasan Kapital (M) Sdn Bhd over a construction contract dispute. Ramssol Group Bhd has partnered with iFLYTEK, a leading Chinese AI company valued at RM58bn, as its authorised distributor and reseller in Asia via the iFLYTEK Open Platform. Edelteq Holdings Bhd is setting up a 50:50 joint venture with Halo Technologies Sdn Bhd to manufacture automated optical inspection machines. Oasis Harvest Corp Bhd is acquiring Metta Food & Lifestyle Sdn Bhd, operator of banquet-themed restaurants 1958 by Chef Wan and Cafe Chef Wan, for RM30.8mn in cash. UUE Holdings Bhd is entering the solar photovoltaic industry via a 60%-owned subsidiary, Enerxite Sdn Bhd, with JV partner Daryl Lai Yit Sheng holding the remaining stake. Taghill Holdings Bhd chief executive officer and executive director Ng Wai Hoe has resigned with immediate effect, citing personal reasons. Kawan Renergy Bhd announced the immediate resignation of its independent non-executive director Dr Chuah Chaw Teo, citing time constraints resulting from personal and corporate commitments.
The Star
03-06-2025
- Business
- The Star
Cypark appoints Tan Sri Abdul Wahid Omar as chair
KUALA LUMPUR: Cypark Resources Bhd has appointed Tan Sri Abdul Wahid Omar as its independent non-executive director and chair of the board, effective June 9, 2025. In a statement, the group said Abdul Wahid succeeds Datuk Hamidah Moris (Ami Moris) as the board chair, as she transitions to the role of group managing director. "Cypark is poised for its next leap forward. Over the past 12 months, we've added 270MWp of solar energy capacity and improved the energy generation performance from our waste-to-energy facility by 25%. "These results are a testament to the resilience of our reconstituted board in 2024 and new leadership team's commitment to excellence," said Ami Moris. According to Cypark, these changes reflect the board's strategic direction to strengthen independent oversight while empowering proven executive leadership. "The separation of the chair and managing director roles ensures a high standard of governance, transparency, and accountability, in line with best practices for Bursa Malaysia listed companies," it said. Meanwhile, Datuk Dr Gue See Sew has been appointed independent non-executive director, effective June 9, 2025.
New Straits Times
03-06-2025
- Business
- New Straits Times
Cypark names Abdul Wahid Omar as new chairman
KUALA LUMPUR: Cypark Resources Bhd has named Tan Sri Abdul Wahid Omar as its new independent non-executive director and chair of the board effective June 9. The appointment comes as Datuk Hamidah Moris steps down as chair to assume the role of group managing director, a move aimed at strengthening the company's operational leadership. "These changes reflect the board's strategic direction to strengthen independent oversight while empowering proven executive leadership. "The separation of the chair and managing director roles ensures a high standard of governance, transparency, and accountability, in line with best practices for Bursa Malaysia listed companies," it said. Cypark also named Datuk Ir. Dr. Gue See Sew as an independent non-executive director effective June 9 to bolster the company's expanding technical capabilities. "His civil engineering background and international advisory experience further equip Cypark with the expertise needed to deliver complex, innovative energy solutions," it said. Hamidah said with Abdul Wahid's leadership and strong governance background, along with Gue's technical proficiency, Cypark is committed to driving Malaysia's clean energy future through integrity, innovation, and meaningful impact.
