Latest news with #AstroMalaysia
The Star
09-07-2025
- Business
- The Star
Why global headwinds are pushing firms to rethink hiring
As tariffs rise, AI advances, and the energy transition accelerates, companies from Silicon Valley to the Klang Valley are trimming jobs – not in panic, but to future-proof their businesses FROM global corporations to Malaysian businesses, companies across industries are reevaluating their business models to navigate a rapidly changing global economy. Firms are restructuring operations to adapt to shifting geopolitical landscapes, technological advancements, and evolving climate targets. Malaysia has not been spared, with Goodyear, one of the world's largest tyre companies, shuttering its Malaysian operations as part of a global cost-cutting strategy. Meanwhile, Astro Malaysia, the country's leading content and entertainment company, has introduced company-wide measures to streamline its operations in line with broader shifts seen globally across the media and technology sectors. Why now? Three major trends are driving this wave of transformation. Geopolitics, trade tensions force rethink After years of globalisation, the pendulum is swinging back. Trade is being reshaped by geopolitics, with countries pushing to safeguard supply chains, even if it drives up costs. The US has hiked tariffs on China and hinted at more restrictions affecting South-East Asia. Despite holding steady thus far, Malaysia's electrical and electronics exports remain vulnerable to mounting geopolitical headwinds. Meanwhile, businesses are streamlining supply chains to mitigate geopolitical risks. Friendshoring, or locating production in 'friendly' countries, is on the rise, and Malaysia is benefiting. Intel, Infineon and Micron have all invested heavily in new chip facilities here. Even Chinese firms are shifting production to Malaysia to navigate US trade restrictions. But not all sectors are thriving. Semiconductor demand cooled last year after a pandemic-driven surge, prompting layoffs and hiring freezes in Penang's manufacturing corridors. The glove industry – a sector that boomed during the Covid-19 pandemic – also saw a downturn in 2023, leading Top Glove to shut down factories in China and Vietnam. The tech industry has also seen significant workforce reductions. For instance, major Silicon Valley firms like Meta and Microsoft collectively laid off over 30,000 employees globally earlier this year – nearly 20,000 in the San Francisco Bay Area alone – as companies recalibrated after pandemic-era overhiring and shifted focus towards AI and automation. Similar cuts have also been felt closer to home, with layoffs impacting tech hubs in Singapore. The retail sector is facing its own challenges, with projections indicating over 15,000 store closures in the US this year, potentially leading to more than 200,000 job losses, as consumer habits shift and economic pressures mount. Meanwhile, the automotive industry is undergoing significant restructuring. For example, Thyssenkrupp announced plans to cut around 1,800 jobs due to ongoing weakness in the automotive sector it supplies, citing declining production volumes and uncertainty due to potential new tariffs. For many businesses, this is what downsizing looks like: scaling back in markets promising lower returns and doubling down in areas with longer-term potential. The energy transition The shift toward cleaner energy is another major factor. As climate goals tighten, energy producers and heavy industries are changing how they operate, and who they hire. In Malaysia, government-linked companies PETRONAS and Tenaga Nasional Bhd are increasingly moving into renewables, areas that require different expertise and hence evolving headcount. The same story is playing out globally. Car makers are investing in electric vehicles and trimming roles tied to combustion engines. Power companies are moving from coal to solar and wind, prompting retraining and reorganisation. Malaysia's own energy roadmap calls for a pivot to low-carbon sources, bringing new jobs in solar, hydrogen and EV charging, while phasing out others. To support this transition, the government and industry are investing in retraining programmes, helping oil and gas workers move into green tech. But the clock is ticking. The companies acting now are those hoping to stay ahead of the curve, not get left behind. Doing more with less: AI, digital transformation In addition to responding to external shocks, companies are also pursuing greater productivity. Thanks to artificial intelligence (AI) and automation, many tasks, once performed by humans, are now handled by algorithms. Meanwhile, local banks are grappling with tightening regulations and rising non-performing loans, forcing them to streamline branches and retrain staff for digital banking operations. They are also increasingly using AI for customer service, reducing the need for large call centre teams. In retail, brick-and-mortar chains are closing storefronts amid fluctuations in consumer spending and the rise of e-commerce platforms like Amazon and Shopee, sparking realignments into logistics and digital marketing over in-person sales. The trend is global. A Bloomberg Intelligence report suggests up to 200,000 banking jobs worldwide could be lost to AI in the next five years. In Malaysia, ByteDance, TikTok's parent company, cut hundreds of jobs last year from its KL moderation team, as AI tools replaced many human screeners. Even startups are feeling the shift. With investor money harder to come by, firms are prioritising lean teams supported by software tools. Hiring has slowed, and many companies are discovering they can maintain output with fewer people, provided they're using the right tech. For workers, this means reskilling is no longer optional. The most vulnerable roles are those that are easily automated. Developing tech fluency and adaptability is now the safest bet. A new business mindset All these moves, whether in response to geopolitics, AI or climate goals, reflect a broader shift in corporate thinking. Companies are restructuring not because they're failing, but because they're evolving. Global firms are recalibrating their operations, and Malaysian workers and businesses are part of that equation. Some jobs will disappear while others will be transformed. But new roles will also be created, especially in sectors like advanced manufacturing, AI, and clean energy. The key is readiness. Those who anticipate change and adapt early will have the edge. In a volatile global economy, staying competitive means knowing when to pivot. The companies doing that now are likely to be the ones still standing a decade from now. This article was previously published by Free Malaysia Today.
New Straits Times
03-07-2025
- Business
- New Straits Times
Firms reassess hiring in face of global headwinds
PETALING JAYA: From global corporations to Malaysian businesses, companies across industries are reevaluating their business models to navigate a rapidly changing global economy. Firms are restructuring operations to adapt to shifting geopolitical landscapes, technological advancements, and evolving climate targets, according to FMT. Malaysia has not been spared, with Goodyear, one of the world's largest tyre companies, shuttering its Malaysian operations as part of a global cost-cutting strategy. Meanwhile, Astro Malaysia, the country's leading content and entertainment company, has introduced company-wide measures to streamline its operations in line with broader shifts seen globally across the media and technology sectors. Why now? Three major trends are driving this wave of transformation. Geopolitics, trade tensions force rethink FMT said after years of globalisation, the pendulum is swinging back. Trade is being reshaped by geopolitics, with countries pushing to safeguard supply chains, even if it drives up costs. The US has hiked tariffs on China and hinted at more restrictions affecting Southeast Asia. Despite holding steady thus far, Malaysia's electrical and electronics exports remain vulnerable to mounting geopolitical headwinds. Meanwhile, businesses are streamlining supply chains to mitigate geopolitical risks. Friendshoring, or locating production in "friendly" countries, is on the rise, and Malaysia is benefiting. "Intel, Infineon and Micron have all invested heavily in new chip facilities here. Even Chinese firms are shifting production to Malaysia to navigate US trade restrictions. "But not all sectors are thriving. Semiconductor demand cooled last year after a pandemic-driven surge, prompting layoffs and hiring freezes in Penang's manufacturing corridors," the portal said. The glove industry, a sector that boomed during the Covid-19 pandemic, also saw a downturn in 2023, leading Top Glove to shut down factories in China and Vietnam. The tech industry has also seen significant workforce reductions. For instance, major Silicon Valley firms like Meta and Microsoft collectively laid off over 30,000 employees globally earlier this year - nearly 20,000 in the San Francisco Bay Area alone- as companies recalibrated after pandemic-era overhiring and shifted focus towards AI and automation. Similar cuts have also been felt closer to home, with layoffs impacting tech hubs in Singapore. The portal said the retail sector is facing its own challenges, with projections indicating over 15,000 store closures in the US this year, potentially leading to more than 200,000 job losses, as consumer habits shift and economic pressures mount. "Meanwhile, the automotive industry is undergoing significant restructuring. For example, Thyssenkrupp announced plans to cut around 1,800 jobs due to ongoing weakness in the automotive sector it supplies, citing declining production volumes and uncertainty due to potential new tariffs," it added. For many businesses, this is what downsizing looks like: scaling back in markets promising lower returns and doubling down in areas with longer-term potential. The energy transition The shift toward cleaner energy is another major factor. As climate goals tighten, energy producers and heavy industries are changing how they operate, and who they hire, the portal said. In Malaysia, government-linked companies Petronas and Tenaga Nasional are increasingly moving into renewables, areas that require different expertise and hence evolving headcount. "The same story is playing out globally. Car makers are investing in electric vehicles and trimming roles tied to combustion engines. Power companies are moving from coal to solar and wind, prompting retraining and reorganisation. "Malaysia's own energy roadmap calls for a pivot to low-carbon sources, bringing new jobs in solar, hydrogen and EV charging, while phasing out others." To support this transition, the government and industry are investing in retraining programmes, helping oil and gas workers move into green tech. But the clock is ticking. The companies acting now are those hoping to stay ahead of the curve, not get left behind. Doing more with less: AI, digital transformation In addition to responding to external shocks, companies are also pursuing greater productivity. Thanks to artificial intelligence (AI) and automation, many tasks, once performed by humans, are now handled by algorithms. Meanwhile, local banks are grappling with tightening regulations and rising non-performing loans, forcing them to streamline branches and retrain staff for digital banking operations. They are also increasingly using AI for customer service, reducing the need for large call centre teams, the portal said. In retail, brick-and-mortar chains are closing storefronts amid fluctuations in consumer spending and the rise of e-commerce platforms like Amazon and Shopee, sparking realignments into logistics and digital marketing over in-person sales. "The trend is global. A Bloomberg Intelligence report suggests up to 200,000 banking jobs worldwide could be lost to AI in the next five years. In Malaysia, ByteDance, TikTok's parent company, cut hundreds of jobs last year from its KL moderation team, as AI tools replaced many human screeners." Even startups are feeling the shift, the portal said. With investor money harder to come by, firms are prioritising lean teams supported by software tools. Hiring has slowed, and many companies are discovering they can maintain output with fewer people, provided they're using the right tech. For workers, this means reskilling is no longer optional. The most vulnerable roles are those that are easily automated. Developing tech fluency and adaptability is now the safest bet. A new business mindset All these moves, whether in response to geopolitics, AI or climate goals, reflect a broader shift in corporate thinking, the portal said. Companies are restructuring not because they're failing, but because they're evolving. Global firms are recalibrating their operations, and Malaysian workers and businesses are part of that equation. Some jobs will disappear while others will be transformed. But new roles will also be created, especially in sectors like advanced manufacturing, AI, and clean energy. The key is readiness. Those who anticipate change and adapt early will have the edge. In a volatile global economy, staying competitive means knowing when to pivot. The companies doing that now are likely to be the ones still standing a decade from now.
Free Malaysia Today
01-07-2025
- Business
- Free Malaysia Today
Why global headwinds are pushing firms to rethink hiring
A shift towards cleaner energy is a major factor behind energy producers and heavy industries changing how they operate, and who they hire. (Freepik pic) PETALING JAYA : From global corporations to Malaysian businesses, companies across industries are reevaluating their business models to navigate a rapidly changing global economy. Firms are restructuring operations to adapt to shifting geopolitical landscapes, technological advancements, and evolving climate targets. Malaysia has not been spared, with Goodyear, one of the world's largest tyre companies, shuttering its Malaysian operations as part of a global cost-cutting strategy. Meanwhile, Astro Malaysia, the country's leading content and entertainment company, has introduced company-wide measures to streamline its operations in line with broader shifts seen globally across the media and technology sectors. Why now? Three major trends are driving this wave of transformation. Geopolitics, trade tensions force rethink After years of globalisation, the pendulum is swinging back. Trade is being reshaped by geopolitics, with countries pushing to safeguard supply chains, even if it drives up costs. The US has hiked tariffs on China and hinted at more restrictions affecting Southeast Asia. Despite holding steady thus far, Malaysia's electrical and electronics exports remain vulnerable to mounting geopolitical headwinds. Meanwhile, businesses are streamlining supply chains to mitigate geopolitical risks. Friendshoring, or locating production in 'friendly' countries, is on the rise, and Malaysia is benefiting. Intel, Infineon and Micron have all invested heavily in new chip facilities here. Even Chinese firms are shifting production to Malaysia to navigate US trade restrictions. But not all sectors are thriving. Semiconductor demand cooled last year after a pandemic-driven surge, prompting layoffs and hiring freezes in Penang's manufacturing corridors. The glove industry—a sector that boomed during the Covid-19 pandemic—also saw a downturn in 2023, leading Top Glove to shut down factories in China and Vietnam. The tech industry has also seen significant workforce reductions. For instance, major Silicon Valley firms like Meta and Microsoft collectively laid off over 30,000 employees globally earlier this year—nearly 20,000 in the San Francisco Bay Area alone—as companies recalibrated after pandemic-era overhiring and shifted focus towards AI and automation. Similar cuts have also been felt closer to home, with layoffs impacting tech hubs in Singapore. The retail sector is facing its own challenges, with projections indicating over 15,000 store closures in the US this year, potentially leading to more than 200,000 job losses, as consumer habits shift and economic pressures mount. Meanwhile, the automotive industry is undergoing significant restructuring. For example, Thyssenkrupp announced plans to cut around 1,800 jobs due to ongoing weakness in the automotive sector it supplies, citing declining production volumes and uncertainty due to potential new tariffs. For many businesses, this is what downsizing looks like: scaling back in markets promising lower returns and doubling down in areas with longer-term potential. The energy transition The shift toward cleaner energy is another major factor. As climate goals tighten, energy producers and heavy industries are changing how they operate, and who they hire. In Malaysia, government-linked companies Petronas and Tenaga Nasional are increasingly moving into renewables, areas that require different expertise and hence evolving headcount. The same story is playing out globally. Car makers are investing in electric vehicles and trimming roles tied to combustion engines. Power companies are moving from coal to solar and wind, prompting retraining and reorganisation. Malaysia's own energy roadmap calls for a pivot to low-carbon sources, bringing new jobs in solar, hydrogen and EV charging, while phasing out others. To support this transition, the government and industry are investing in retraining programmes, helping oil and gas workers move into green tech. But the clock is ticking. The companies acting now are those hoping to stay ahead of the curve, not get left behind. Doing more with less: AI, digital transformation In addition to responding to external shocks, companies are also pursuing greater productivity. Thanks to artificial intelligence (AI) and automation, many tasks, once performed by humans, are now handled by algorithms. Meanwhile, local banks are grappling with tightening regulations and rising non-performing loans, forcing them to streamline branches and retrain staff for digital banking operations. They are also increasingly using AI for customer service, reducing the need for large call centre teams. In retail, brick-and-mortar chains are closing storefronts amid fluctuations in consumer spending and the rise of e-commerce platforms like Amazon and Shopee, sparking realignments into logistics and digital marketing over in-person sales. The trend is global. A Bloomberg Intelligence report suggests up to 200,000 banking jobs worldwide could be lost to AI in the next five years. In Malaysia, ByteDance, TikTok's parent company, cut hundreds of jobs last year from its KL moderation team, as AI tools replaced many human screeners. Even startups are feeling the shift. With investor money harder to come by, firms are prioritising lean teams supported by software tools. Hiring has slowed, and many companies are discovering they can maintain output with fewer people, provided they're using the right tech. For workers, this means reskilling is no longer optional. The most vulnerable roles are those that are easily automated. Developing tech fluency and adaptability is now the safest bet. A new business mindset All these moves, whether in response to geopolitics, AI or climate goals, reflect a broader shift in corporate thinking. Companies are restructuring not because they're failing, but because they're evolving. Global firms are recalibrating their operations, and Malaysian workers and businesses are part of that equation. Some jobs will disappear while others will be transformed. But new roles will also be created, especially in sectors like advanced manufacturing, AI, and clean energy. The key is readiness. Those who anticipate change and adapt early will have the edge. In a volatile global economy, staying competitive means knowing when to pivot. The companies doing that now are likely to be the ones still standing a decade from now.
The Star
19-06-2025
- Business
- The Star
Astro posts 1Q net profit of RM13.5mil
PETALING JAYA: Astro Malaysia Holdings Bhd (Astro) said its biggest threat is content piracy, which it has continued to fight hard against. In a filing to Bursa Malaysia, the content and entertainment company said it will continue to lobby for more regulatory reforms and enforcement activity not just to protect itself, but to safeguard the future of the Malaysian creative industry. 'Across Malaysia, courts have recently ruled in our favour with landmark decisions in the last twelve months, awarding Astro statutory damages and imposing tougher penalties on illegal streaming device (ISD) sellers and errant F&B outlets who illegally stream our content,' it said. The company added that given the challenging environment, it will continue to maintain a cautious outlook, carefully monitoring business conditions and ensuring effective cost discipline as consumers and businesses digest the impact of internal reforms and external uncertainties. For the first quarter ended April 30, 2025, Astro Malaysia recorded a lower revenue of RM703.1mil, compared to the RM772.5mil recorded for the same quarter a year ago. Subsequently, this also drove down its profit, registering at RM13.45mil compared to RM17mil in the same quarter last year. According to Astro, the decrease in both revenue and profit was due to a reduction in subscription and advertising revenue. The lower figures was also attributed to decreased earnings before interest, taxes, depreciation, and amortisation, which were offset by lower net financing costs, favourable unrealised foreign exchange arising from unhedged lease liabilities, as well as reduced amortisation of intangible assets and tax expense. For television, revenue for the quarter under review fell 7.9% to RM670mil while radio's revenue also dropped 27.3% due to soft consumer sentiments leading to lower advertising spend. It also said its total liabilities had decreased by RM110mil on the back of lower borrowings by RM118mil and payables by RM44mil, offset by higher tax liabilities by RM34.2mil and derivative financial instruments by RM12.2mil. Moving forward, the company said its investments will continue to be firmly focused on long-term and sustainable growth by elevating local content, while increasing the volume and diversity of content in lower tiers. These will be coupled with reducing entry pricing for Astro and sooka products, with the intent to grow its base. 'Astro will also increase the uptake of its adjacent businesses and transform legacy structures to support all the other strategies,' the group said. Its board did not declare any interim dividend in respect of the first quarter ended April 30, 2025. At market close, Astro Malaysia's share price was recorded at 17.5 sen with a market capitalisation of RM913.33mil.
Yahoo
26-05-2025
- Business
- Yahoo
Astro Malaysia Holdings Berhad Full Year 2025 Earnings: EPS Beats Expectations, Revenues Lag
Revenue: RM3.08b (down 8.0% from FY 2024). Net income: RM129.1m (up 205% from FY 2024). Profit margin: 4.2% (up from 1.3% in FY 2024). The increase in margin was driven by lower expenses. EPS: RM0.025 (up from RM0.008 in FY 2024). We've discovered 3 warning signs about Astro Malaysia Holdings Berhad. View them for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 49%. Looking ahead, revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Media industry in Malaysia. Performance of the Malaysian Media industry. The company's shares are up 8.1% from a week ago. We don't want to rain on the parade too much, but we did also find 3 warning signs for Astro Malaysia Holdings Berhad (2 are a bit unpleasant!) that you need to be mindful of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
