Latest news with #CGS
BusinessToday
19-05-2025
- Business
- BusinessToday
US Tariff Uncertainty Dampens Outlook For Malaysia's Semiconductor Industry: CGS
Renewed US tariff measures are clouding the growth outlook for Malaysia's semiconductor industry, with local manufacturers scrambling to adjust production plans amid shifting trade policies, according to a new report by CGS International. The research house highlights that 32% of the sector's revenues in fiscal 2024 were exposed to the United States and 18% to China, leaving key players like Genetec, Unisem, and SAM Engineering particularly vulnerable on the US side (33–81% exposure) and ViTrox and Mi Technovation on the China side (37–44% exposure). Ahead of a 90-day tariff pause that ends on 9 July 2025, CGS's channel checks found some firms are preloading orders, yet raw-material and component shortages have capped any meaningful sales surge. Meanwhile, final decisions on semiconductor-specific tariffs—and broader US efforts to reshore chip production—remain pending, perpetuating uncertainty. Earnings Downgrades and EPS Forecast Cuts Anticipating a slowdown in capital-expenditure by chipmakers and weaker downstream demand, CGS has slashed its calendar-year 2025–26 EPS forecasts by around 22% for its Malaysian coverage universe. While a short-lived bump in second-quarter earnings is possible from front-loaded orders, lingering tariff risks and elevated inventories—particularly in the automotive and industrial segments—are expected to dampen profits in the second half of 2025. CGS now sees flat sector EPS in 2025 and 21% growth in 2026, figures that sit 15–17% below Bloomberg consensus. Valuation Disconnect Fuels Underweight Calls Despite recent share-price declines, the report warns that sector valuations remain disconnected from fundamentals. On CGS's revised forecasts, the Malaysian semiconductor index trades at 24.9x 2026 P/E, well above the pre-pandemic 2015–19 average of 17.8x. With consensus earnings still too bullish, CGS expects a re-rating toward historical multiples, particularly as tariff differentials and supply-chain rerouting under a China+1 strategy materialise slowly amid heightened US scrutiny. Stock Ratings Reflecting these headwinds, CGS maintains an Underweight stance on the sector. It has reduced positions in Unisem, MPI, Inari, ViTrox, Genetec, and SAM Engineering; kept Hold on Pentamaster and Uchi Technologies; and upgraded Mi Technovation to Add, citing its stronger positioning in China-centred and server-focused markets. Related
Yahoo
16-05-2025
- Sport
- Yahoo
Jordan Spieth's thoughts on his Career Grand Slam attempts are fascinating
Golf and the world that we live in with it can be very prisoner of the moment-y. To be clear this is fine and normal. With golf being a sport where individuals win, when one single person has the entirety of our focus then we have a tendency to live fully in that idea. Advertisement We are at a point now, as a result of this phenomenon, where the Career Grand Slam is at the forefront of our minds like never before. When Tiger Woods climbed the mountain back in 2000 we did not have the internet the way we do now or social media or television coverage discussing the idea around the clock. Times have changed and Rory McIlroy joining the club a month ago has made us all extremely hyper-aware of Club CGS. This sequence of events has brightened the lights on Jordan Spieth's career trophy case and more specifically than anything the absence of a Wanamaker Trophy in it. We were just hand-delivered a CGS... why can't Jordan give us another? It only seems fair, golf! While McIlroy had been chasing the CGS since 2011, Jordan has only been doing so since 2017 when he won his Open Championship. From a tally standpoint that marks eight different PGA Championships that he has fallen short. Unfortunately... he has mostly fallen very short. Jordan Spieth PGA Championship Finishes Since Attempting CGS (event winner) 2017............... T28 (Justin Thomas) 2018............... T12 (Brooks Koepka) 2019................ T3 (Brooks Koepka) 2020............... T71 (Collin Morikawa) 2021................ T30 (Phil Mickelson) 2022................ T34 (Justin Thomas) 2023................ T29 (Brooks Koepka) 2024................. T43 (Xander Schauffele) Advertisement An often-made quip these days used to be that Tiger Woods (2019 Masters) and Phil Mickelson (2021 PGA Championship) had won majors more recently than McIlroy and Spieth, but the former taking care of business at Augusta himself and establishing his CGS in the process has isolated the latter in that regard. But is it not strange how we as a golf world haven't talked about Jordan's CGS quest the same way we did Rory's? Perhaps some of that is that a green jacket is what eluded Rory and there is a certain aura that comes with that which doesn't, all due respect, with the PGA or any other major for that matter. Annually though, Rory has dealt with that question in bold and capital letters where Jordan has kind of floated by. Perhaps that is also representative of the fact that Rory has maintained top form as a player and Jordan has not. To his credit, Jordan seems aware of whatever we want to call this. Speaking on Tuesday at Quail Hollow he noted that he has not exactly come close to his own CGS since having an opportunity to get there. Coming to grips with the fact that no one has really asked about it is maybe the most telling thing here. Scroll back up and look at the list of PGA Championship winners since Jordan has had a chance to reach immortality. Consider that Justin Thomas has won the event twice, including the last time it was at Quail Hollow. Recall that all of Brooks Koepka's major championships (five of them, two more than Jordan) have happened in this period. Collin Morikawa and Xander Schauffele have each won the event and added an Open Championship as well in the time. Advertisement When Jordan Spieth hoisted the Claret Jug in 2017 a CGS felt inevitable for him. Maybe it still is. Right now though... he knows that people are going to be asking about it in an entirely different way until that inevitability does or does not happen.
Skift
15-05-2025
- Business
- Skift
STR Reports China Hotel RevPAR Decline
STR reported China hotel data for the week ended May 10th. China hotel RevPAR was down 3.1% year-over-year, up against what should have been an easy comp of a drop of 21.1% in the year-ago week. China hotel ADR was down 1.3% for the 2025 week, while hotel occupancy was down 1.8%. The Australian Bureau of Statistics released data showing the country's inbound holiday market is still tracking below pre-pandemic levels. March 2025 recorded 336,060 short-term international holiday arrivals, around 16% below March 2019. CGS International Securities issued a negative report predicting Thai hotels will be hit with a secondary impact from the U.S. reciprocal tariffs, as slowing tourist arrivals could cause hoteliers to cut prices or introduce more aggressive campaigns at home. These hoteliers' overseas operations will also be impacted by a global economic slowdown. They expect spending per person in Thailand to decline by 1% next year and stay flat in 2027. CGS cut their tourist arrival estimate to 34.5 million this year. They were previously expecting 39 million. Last year's arrivals totaled 35.5 million. They cut their expectations for 2026 to 36.3 million from 41 million. Q1 25 resulted in 9.5 million arrivals, up 2% year-on-year but down 12% from Q1 19. Chinese tourist arrivals dropped 24% in Q1 to only 1.3 million. In the first quarter of 2019, that total was 3.1 million. CGS said a weak baht could benefit Thai hotels, making it cheaper for foreign tourists, but they believe the benefit will be more than offset by a weaker global economy and higher hotel competition. Wink Hotels announced the launch of Wink Live Serviced Residences in Hai Phong, Vietnam. Wink Live Serviced Residences combines flexible living spaces with 24/7 luxury hotel services. The property in Hai Phong offers a wide range of one and two-bedroom apartment designs. Wink Live Serviced Residences Hai Phong offers 77 serviced apartments with one bedrooms at 35 square meters, and the 22 Wink Live two-bedroom apartments have an area of approximately 55 square meters. The property will welcome guests come July. Banyan Group announced the release of a new parcel of stylish condos for sale at the Laguna Phuket in Thailand. The latest block that was released for sale features 67 one, two and three-bedroom apartments priced from 10.1 million baht (US$297,000). They are designed in a low-rise block with its own rooftop infinity pool, around a multi-purpose communal lawn and manicured gardens, with a boardwalk shaded by a canopy of trees. Laguna Lake Residences Aster is an extension to the success story of Laguna Lakeside Residences, located at the gateway to Laguna Phuket on the doorstep of Bang Tao's Boat Avenue entertainment district. The 1,000-acre Laguna Phuket is located 30 minutes from Phuket International Airport and includes award-winning spas, world-class dining, its own kindergarten school, social events, and Laguna Golf Phuket. Owners of the residences are enrolled in Banyan Living, Banyan Group's new rental management platform. Cross Hotels & Resorts announced the signing of two lifestyle hotels in Batam, Indonesia: Cross Batam The Mix and Cross Vibe Batam The Mix. The Mix is a 5-in-1 integrated development in Pasir Putih, Batam Centre. The property is developed by PT MIG Putra Indonesia, a joint venture between PURI Group Indonesia and Rima Properties Group Malaysia. This is Cross Hotels & Resorts' second venture on Batam. Cross Batam The Mix offers generously sized suites starting from 115 square meters with sleek living areas and fully equipped kitchenettes. Cross Vibe Batam The Mix is located in the 23-story Iconic View Tower. The hotels are scheduled to open in phases starting in 2027, with full operations expected in 2028. DoubleDragon has unveiled its newest project, Hotel101-Roxas Boulevard, a 700-room development that is expected to become the largest hotel along Roxas Boulevard in Manila, Philippines. The building will stand 129 meters tall with amenities geared towards both business and leisure travelers. These include function and convention facilities, swimming pool, co-working and business center areas, a gym, and a signature all-day dining restaurant on the 34th floor offering panoramic views of Manila Bay. Construction is expected to begin in the second half of this year, with completion targeted for the second half of 2028. This is part of DoubleDragon's broader Hotel101 Global vision of reaching 50,000 operating rooms in the Philippines and one million rooms globally across 100 countries. Dennis Uy's PH Resorts Group is refusing to give back the casino license that was earmarked for its Emerald Bay resort project in Mactan, Cebu, in the Philippines. Uy had been left at the altar by numerous former partners, with all completing due diligence and not liking what they saw in the project or not wanting to be partners with PH Resorts Group. The reason PH is not giving back the license is that they disagree with Chinabank that they are the owners of the property. PH is treating the P5.2 billion in bridge loans from the bank and P543 million in interest as a mere financing arrangement or a loan, not as a sale/leaseback like the bank announced and acted on. PH Resorts cited the buyback option and Chinabank's lack of control over the assets as grounds to continue recognizing the properties as their own in their financial reports. The buyback option expired last March without any payment. PH Resorts said they are still negotiating a new repurchase agreement with the bank, but Chinabank announced plans to sell the property to interested parties who have already expressed interest in acquiring the stalled resort site. Dennis Uy said he was blindsided by Chinabank's move to raise the buyback cost by P1.5 billion from P5.74 billion last August. The Grand Ho Tram in Vietnam held a groundbreaking ceremony for a new subdivision of the IR with an area of 35 hectares and a total investment of over US$1 billion. The new 35-hectare subdivision includes a 5-star hotel system, resort villas, entertainment facilities, a casino, an international convention and exhibition center with more than 6,000 rooms. This is part of the overall 164-hectare project, with the new subdivision contributing to increasing the total investment capital of the project to more than US$4 billion, with a scale of 9,000 rooms. Warburg Pincus is the majority owner and investor in the Ho Tram integrated casino resort through Lodgis Hospitality Holdings, a joint venture between Warburg Pincus Investment Fund and VinaCapital. Warburg Pincus has invested more than US$2 billion since entering the Vietnamese market in 2013, with US$1.4 billion of that in the Grand Ho Tram.
Business Wire
09-05-2025
- Business
- Business Wire
Custom Glass Solutions Establishes Upper Sandusky as New Corporate HQ
UPPER SANDUSKY, Ohio--(BUSINESS WIRE)-- Custom Glass Solutions (CGS), a proud American manufacturer of engineered glass solutions and portfolio company of Stellex Capital Management, is pleased to announce that Upper Sandusky, OH, is now the official corporate headquarters for all CGS operations nationwide. The recent tariff policies have created a favorable environment for domestic manufacturers. Macroeconomic tailwinds combined with our commitment to innovation and service are propelling our business forward. This move marks a significant step forward for CGS as the company ramps up production to meet a surge in demand, driven in part by customers seeking to onshore their supply chains. To support the growth opportunities, the Upper Sandusky facility is adding at least 30 new manufacturing jobs and actively seeking motivated individuals to join the team. 'Choosing Upper Sandusky as our corporate headquarters was a natural decision,' said Matt Dietrich, CEO of CGS. 'We've been a part of this community since 1974 so our roots are here. As we continue to grow, invest in our people and lead through innovation, it just makes sense that Upper Sandusky should be the center of our operations.' In addition to the ramp-up in Upper Sandusky, CGS is expanding in Fostoria, OH, where 70 new jobs have been added to support a facility expansion and new capital equipment that adds automation, throughput and capacity. And at its Broken Arrow, OK, facility, CGS is investing in new capabilities to further enhance its product portfolio. This growth comes alongside the strategic consolidation of operations in Trumbauersville, PA, and CGS's previous headquarters in Worthington, OH. 'We have realigned our footprint to drive efficiencies and focus,' said Dietrich. 'In turn, we are reinvesting in our operations and focusing our resources to support our growth goals.' CGS has seen an increase in demand from current and prospective customers looking to secure their supply chains with U.S.-based suppliers. 'The recent tariff policies have created a favorable environment for domestic manufacturers,' Dietrich said. 'Macroeconomic tailwinds combined with our commitment to innovation and service are propelling our business forward.' The company is also developing into a leader in bullet- and blast-resistant glass technologies with its Optishield™ line of transparent armor products. Optishield Tactical is designed to provide invisible, level NIJ3A ballistic protection for windshields and side glass in Law Enforcement vehicles. Together with Dana Safety Supply, CGS's exclusive distributor and installer of Optishield Tactical, the companies are setting the standard for vehicle armoring solutions. In addition to law enforcement applications, CGS is also deploying Optishield in a first-of-its-kind, fully-ballistic bus barrier dubbed Transit Assault Barrier that protects transit operators from the ever-increasing risk of assault. To meet the influx of demand, CGS is actively recruiting and hiring with open positions posted at Offering a range of shifts, competitive benefits and a culture rooted in internal promotion, CGS provides career opportunities for entrepreneurial, hard-working individuals. New employees may look forward to wage increases at 90 and 180 days as well as an improved and comprehensive benefits package. The Fostoria team will host a ribbon-cutting event in June for employees and the community to see the growth and new technology firsthand. 'Our future is built on the talent and passion of our people,' Dietrich said. 'We're offering more than just a job — we're building careers with purpose, growth and impact.' About Custom Glass Solutions Custom Glass Solutions, LLC is North America's leading producer of large-format, laminated glass systems. In addition to laminated glass, CGS also manufactures flat, bent, and tempered glass systems, offering a broad range of capabilities and the most diverse selection of products for many different transportation and mobile equipment segments. Through its Network business, CGS also works with insurance companies, fleet operators and OEM customers to coordinate glass replacement services. Today, the company operates two facilities in Ohio and one in Oklahoma and employs 600 hundred dedicated employees serving customers across the North American market. About Stellex Capital Management With offices in New York, Detroit, Pittsburgh and London, Stellex Capital is a private equity firm with $5 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex's industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing and tech-enabled services. Additional information may be found at
Forbes
06-05-2025
- Business
- Forbes
Cracking The Code On ESG Challenges For Fashion Supply Chains
Paul F. Magel | President, CGS | Leads global software & cloud co. CGS and its BlueCherry® digital supply chain platform for fashion brands. getty Today's fashion and apparel brands—from global icons to mid-size businesses—are under more pressure than ever to meet increasingly tough environmental, social and governance (ESG) requirements. Consumers are demanding greater transparency, investors expect accountability and regulators are getting tighter on their compliance measures than ever before. The bottom line is that sustainability is no longer optional. Here's the thing, though—ESG isn't just about compliance and added complexity. It's a massive opportunity. The very same digital supply chain strategies that help companies mitigate ESG risks can also unlock powerful, data-driven insights that can sharpen their competitive edge and drive growth through a much more resilient supply chain—one that's better prepared to absorb the impacts of tariff shifts or other global disruptions. Supply chain visibility is no longer just a luxury. A single misstep, whether an environmental violation or a labor rights issue, can spiral into a full-blown reputational crisis. However, many brands still struggle to track materials, labor practices and environmental impact across their complex global networks. Why? Because traditional supply chains were never designed with transparency in mind. Data sits in silos, fragmented across different systems, making it difficult for brands to get the full picture. Without real-time insights, businesses risk compliance failures, financial penalties and a loss of consumer trust. These insights also help ensure success for the oldest adage in the book—delivering the right product at the right price at the right time! ESG's Biggest Hurdle: The Data Gap ESG compliance is all about the data. And for too many brands, that data is ... a mess. Regulations are evolving fast, demanding detailed reporting across the entire supply chain. Still, many companies continue relying on outdated, manual processes to track sustainability metrics across a disconnected supply chain. This results in incomplete, inconsistent and unreliable ESG and operational data that puts compliance and brand reputation at risk. Data silos are another roadblock. When product details are stored separately from sustainability metrics, companies can't generate accurate, holistic reports. Without a clear view of their supply chain, brands are flying blind and unable to identify risks (or prove compliance) when it matters most. Digital transformation is a key solution for ESG compliance. A robust, connected digital supply chain can enable brands to collect, analyze and report ESG data in real time while eliminating unnecessary guesswork and enhancing transparency. Here's how supply chain digital transformation is helping fashion and apparel brands crack the ESG code: Real-Time Tracking Internet of Things (IoT) sensors and AI-driven analytics can provide end-to-end supply chain visibility, allowing companies to monitor material origins, labor practices and environmental impact at every stage. For example, fashion retailer C&A Modas implemented an AI-infused platform to optimize its inventory processes—from planning to shipping—enhancing visibility and efficiency across its supply chain. Automated Compliance Management Digital audit trails, supplier self-assessments and AI-based risk assessments can help brands stay ahead of regulatory requirements while minimizing human error. Data Unification Cloud-based platforms can help consolidate ESG data from multiple sources, making reporting faster, easier and more accurate. Predictive Analytics AI-powered tools can forecast potential ESG risks—financial or reputational—before they escalate into crises. For instance, BlueCherry's Planning AI (which is part of my company's applications solutions division), developed in collaboration with FirstShift, integrates AI-driven demand sensing and predictive analytics to help fashion brands anticipate disruptions, optimize inventory and proactively address ESG-related challenges. Future-Proofing ESG: A Smarter Approach With ESG regulations constantly evolving, brands must take a proactive approach to compliance. That means: • Aligning with global reporting standards. Frameworks like the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) provide solid benchmarks for ESG transparency. • Investing in adaptable, modular systems. A flexible digital infrastructure helps ensure brands can scale and adjust to new requirements without overhauling their entire tech stack. • Strengthening supply chain collaboration. Engaging suppliers at all levels—and leveraging digital tools to simplify data collection—drives consistency, efficiency and trust. The Bottom Line: ESG As A Strategic Advantage Instead of viewing ESG compliance as a burden, brands should embrace it as a strategic advantage. Digital supply chain strategies don't just help businesses meet regulatory demands—they drive operational efficiency, strengthen consumer trust and support long-term growth. The future of fashion supply chains is digital, transparent and sustainable. To get started: Understand the role of supply chain platforms. Before investing in a supply chain platform, organizations should first conduct an internal audit to assess where their data gaps and operational bottlenecks lie. Cross-functional conversations between supply chain, compliance, IT and sustainability teams are key to aligning on business goals and defining what success looks like. It's also important to evaluate existing infrastructure, as some systems may already contain valuable data that just needs to be unified. One common pitfall is underestimating change management, so having a clear roadmap and executive buy-in from the outset can dramatically improve outcomes. Begin a data governance strategy. This will help ensure the data you collect can be aggregated and contextualized in a meaningful way. Start by designating a cross-functional data governance team that includes representation from the supply chain, IT, compliance and sustainability. This group should establish clear ownership of ESG data, define data quality standards and align on how data will be collected, verified and reported. Investing in tools that support metadata management and audit trails can also help ensure traceability and accountability. One key to success: Avoid trying to boil the ocean. Instead, begin with your highest-risk areas and scale from there as your governance framework matures. Companies that act now won't just be keeping up with ESG requirements—they can lead the industry forward and build the resilient supply chain required for today's turbulent times. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
