US President Donald Trump’s “Liberation Day” reciprocal tariffs, announced on April 2, sent shock waves around the world. Stocks plummeted. The US market had its worst day since 2020. This goes to show just how badly investors had underestimated the extent of the tariffs, even though Trump has be...

Special Report On Trump Tariffs: What’s the deal? The Art of Coercion using tariffs 

But this is not just your grandfather’s cyclical economic uncertainty Trump has triggered. This is the uncertainty that cuts to the bone, the uncertainty that comes from seeing a world you knew for 80 years being unravelled by the most powerful player — who doesn’t know what he is doing and is surrounded by bobbleheads.

Tong’s portfolio: Trumpianomics: The art of coercion

Just six weeks after being sworn in as the 45th president of the United States of America, President Donald Trump has taken swift actions and made numerous executive orders that are earth-shattering — to foes and friends alike, but especially to traditional friends.

On the domestic fron...

Trumpianomics: Why tariffs, and their effects on the US economy, inflation, interest rates, competitiveness and the US dollar

Higher-for-longer inflation and interest rates have been our view for the longest time. We have written on this subject numerous times, warning that inflation will remain at levels that are higher than they were in the last decade. The era of increasing globalisation that drove the secular deflat...

Innovation, earnings growth and ruthless capitalism will continue to drive US equities’ relative outperformance

As we head towards the end of the year, it is, in line with tradition, time to reassess the global economic situation and lay out our expectations for the parameters that would guide investing decisions for 2025.

Outlook 2025: Elevated inflation, interest rates and valuations + moderate gains in growth, productivity and capital returns. Where and what to invest in?

Why Nations Fail draws widely from across the globe and vividly from history to answer some big questions on why some societies prosper while others persist in poverty

 

 

 

Economics not long ago was at risk of becoming obscure and ...

Contemporary economics

Why Nations Fail draws widely from across the globe and vividly from history to answer some big questions on why some societies prosper while others persist in poverty

 

 

Economics not long ago was at risk of b...

The Malaysian property sector recovery remains intact based on the most recent available statistics. Residential property sales (by value) are rising nationwide, on the back of increases in both volume demand and prices, and — this might come as a shock to many — underpinned by improving home aff...

Robust increase in sales and prices for residential properties with improvement in affordability

Foreign capital, as an external source of funds for investments, plays a vital role in driving economic development, especially for emerging countries where there are likely limited savings relative to the amounts required to rapidly grow their economies. This much is obvious.

There are...

Contrary to theory, capital, ironically, flows to developed economies from emerging countries

I have known Leslie Lopez since the early 1990s, when he was starting to make a name for himself as a business journalist. And he was a good journalist, tenacious and a good storyteller. Over the past 30 years, he has worked for international news organisations and, most importantly for a journal...

An Open Letter: A rebuttal to Leslie Lopez’s allegation of a political conspiracy and his claim that he wrote the first major news exposé on 1MDB 

Britain plans to bring crypto exchanges and dealers under compulsory regulation for the first time under new draft laws announced by finance minister Rachel Reeves on Tuesday to regulate the crypto-asset industry.

UK sets out new laws to regulate crypto exchanges and dealers

Oil prices fell about 2% to a two-week low on Tuesday on expectations Opec+ will boost output even as US President Donald Trump's on-again off-again trade tariffs could reduce global economic growth and demand for the fuel.

Oil prices fall 2% to two-week low as trade war concerns dampen demand outlook

Malaysia hosted the Asean Senior Officials’ Meeting (SOM) and Related Meetings on Tuesday in Kuala Lumpur, according to the country's Foreign Ministry.

Three senior official-level meetings were convened, namely the Asean SOM, Meeting of the Executive Committee of the Southeast Asia Nuclear Weapon-Free Zone (SEANWFZ ExCom), and the 18th Asean Coordinating Council Working Group on Timor-Leste’s Application for Asean Membership (ACCWG-TL).

Asean SOM discusses Community Vision 2045, Timor-Leste membership and nuclear-free zone

A brief recap of some business news and corporate announcements that made the headlines on Tuesday.

S P Setia, Sime Darby Property, CIMB, GuocoLand, DXN, Pantech, Southern Score Builders, Pharmaniaga, Mudajaya, MyEG

The government is set to announce an unprecedented recovery plan for the victims of the gas pipeline explosion in Putra Heights, Subang Jaya, says Housing and Local Government Minister Nga Kor Ming.

Govt to announce unprecedented recovery plan for Putra heights blast victims — Nga

Prime Minister Datuk Seri Anwar Ibrahim expressed hope that the diplomatic ties and friendship between Malaysia and Egypt will continue to grow, particularly in addressing complex global issues through dynamic and thoughtful engagement.

PM hopes Malaysia-Egypt ties will continue to flourish amid global challenges

President Donald Trump will sign an executive order on Tuesday to soften the impact of his automotive tariffs, the White House said.

Trump to sign order granting some auto tariff relief, White House says

The S&P 500 and the Nasdaq edged lower on Tuesday as investors assessed a slew of corporate earnings and economic data, while fresh comments on the US-China trade war dashed hopes for a quick resolution of the conflict.

S&P 500, Nasdaq inch down on Sino-US trade war developments, earnings

Amazon.com denied a report on Tuesday that it planned to disclose the cost that US tariffs imposed by President Donald Trump were adding to its products, after the White House blasted the initial story.

Amazon denies it planned to disclose cost of US tariffs on its website

Teaching hours for the Reproductive and Social Health Education (PEERS) module will be increased under the 2027 School Curriculum as part of efforts to better equip students with the essential knowledge, said Education Minister Fadhlina Sidek.

MOE to increase teaching hours for peers module in 2027 — Fadhlina

The cost of a plate of nasi lemak — a beloved Malaysian staple — has skyrocketed by 81.3% over the past 13 years, rising from RM2.03 in 2011 to RM3.68 in 2024. This increase significantly exceeds the national inflation rate of 28.7% during the same period, according to the Department of Statistics Malaysia (DOSM).

Nasi lemak price jumps 81% in 13 years, much higher than Malaysia’s inflation rate

Eco-Shop Marketing Bhd has launched Malaysia’s largest IPO in eight months, aiming to raise RM419.87 million from 347 million new shares on Bursa Malaysia’s Main Market.

Eco-Shop launches Malaysia’s largest IPO in eight months at RM1.21 per share

MALAYSIA Aviation Group Bhd (MAG), the parent company of national carrier Malaysia Airlines Bhd, will distribute up to 2½ months’ salary in bonuses to employees after posting its second consecutive annual profit, says group managing director Datuk Captain Izham Ismail.

The airline group...

Malaysia Airlines staff to receive up to 2½ months’ bonus on second straight annual profit

Fraser &amp; Neave Holdings Bhd (KL:F&amp;N) expects its dairy farming venture to break even within three to five years.

F&N optimistic dairy farm venture will break even in three to five years

HHRG Bhd (KL:HHRG), formerly known as Heng Huat Resources Group Bhd, said that the company has issued a show cause letter to its CEO Fong Chee Khuen.

HHRG issues show cause letter to CEO, extends suspension

Eco-Shop Marketing Bhd said on Tuesday there is no urgent need to raise prices at its chain of discount stores after the increase earlier this month.

Eco-Shop says no urgent need to raise prices after latest round, sees strong demand ahead

Mudajaya Group Bhd (KL:MUDAJYA) confirmed on Tuesday that its Indian unit and independent power producer, RKM Powergen Ltd, was raided by local authorities in early February this year over an alleged fraudulent acquisition.

Mudajaya confirms Indian unit raided by local authorities over alleged fraudulent acquisition

Concerns over Pharmaniaga Bhd's (KL:PHARMA) financial sustainability have been raised for the third straight year, with independent auditor Ernst &amp; Young PLT (EY) identifying a material uncertainty in the group's FY2024 financial statements that raised doubts about its ability to continue as a going concern.

Pharmaniaga's auditor flags going concern uncertainty for third straight year

KUALA LUMPUR (April 29): The Ministry of Investment, Trade and Industry (Miti) has appointed its deputy secretary general (trade) Mastura Ahmad Mustafa, one of its most experienced senior civil servants, as Malaysia’s chief negotiator for the upcoming formal tariff negotiations with the United States.

Miti deputy sec-gen appointed chief negotiator for US tariff talks

HSBC warned that loan demand and credit quality could suffer from the broader fallout of US President Donald Trump's global trade war, signalling tougher times for trade-focused banks even as the lender's first quarter profit beat forecasts.

HSBC sounds Trump tariff alarm, taking shine off 1Q profit and US$3b buyback

KUALA LUMPUR (April 29): IHH Healthcare Bhd (KL:IHH) on Tuesday secured its first sustainability-linked loan worth S$300 million (approximately RM993.16 million) from Singapore-based United Overseas Bank (UOB).

IHH Healthcare secures S$300 mil sustainability loan from UOB

KUALA LUMPUR (April 29): Nestlé (Malaysia) Bhd (KL:NESTLE) is likely to report softer earnings for the rest of financial year 2025 (FY2025), as rising input costs and softer consumer demand continue to pressure profit margins, analysts said.

Nestlé Malaysia to see softer earnings in FY2025 as higher costs take a bite out of profits — analysts

As Chinese President Xi Jinping toured Southeast Asia this month to forge closer ties against higher US tariffs, the People's Bank of China was seizing a moment of confusion and disruption in global trade to promote greater usage of the yuan.

China ramps up global yuan push, seizing on retreating dollar

US President Donald Trump's administration has so far withheld at least US$436.87 billion (RM1.9 trillion) of congressionally approved funding, the top Democrats on the US Congress' appropriation committees said on Tuesday.

Trump administration withholding US$436.87b in approved spending, top Democrats say

KUALA LUMPUR (April 29): Bank Negara Malaysia (BNM) on Tuesday announced the appointment of two new members to the Shariah Advisory Council (SAC), effective May 1, 2025.

BNM appoints two new members to Shariah Advisory Council, effective May 1

Sime Darby Property Bhd has raised RM800 million in its third sukuk (Islamic bond) sale under a RM4.5 billion programme at a record-low cost.

Sime Darby Property raises RM800m from sukuk at record-low cost

China is willing to support normal cooperation between US companies, the country’s Ministry of Commerce said in a statement Tuesday, just days after Chinese airlines rejected taking delivery of any new jets from US planemaker Boeing Co.

China says willing to cooperate with US after Boeing spat

A former director of 1Malaysia Development Bhd (1MDB) testified on Tuesday that the state fund's board had relied on signed-off audits from audit firms KPMG and Deloitte, which assured them that 1MDB’s investments were legitimate despite news reports from The Edge and others stating that US$700 million from the fund had been siphoned into a company owned by fugitive Low Taek Jho (Jho Low).

Ashvin Valiram: 1MDB board relied on auditors, ignored news exposés on fund's financial health

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.

FBM KLCI down 0.40% to 1,515.56 on April 29, 2025

Cypark Resources Bhd (KL:CYPARK) said Chung Dao has re-emerged as a substantial shareholder in the renewable energy company with a 5.85% stake.

Tong Kooi Ong

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Tong Kooi Ong

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