Malaysia’s semiconductor industry is expected to reach US$18 billion (RM80 billion) in revenue by 2025. But the market is largely dominated by big foreign multinationals, with small- to medium-sized local companies supporting them in terms of components, materials and services as part of the semi...

Condivergence: Unifying local semiconductor companies for national competitiveness

The semiconductor story has always focused on the dominance of the US and China, hardly mentioning Europe other than iconic semiconductor equipment manufacturers such as the Netherland’s Advanced Semiconductor Materials Lithography (ASML). Over the past few decades, for a variety of reasons, Euro...

Condivergence: Europe’s uphill battle to rebuild its semiconductor industry

Before the rise of fabless and pure-foundry semiconductor production models, integrated device manufacturers (IDMs) were king of the market. IDMs were vertically integrated corporations that controlled the full stack of chip design, manufacturing, packaging and sales. In the 1970s, Intel, Texas I...

Condivergence: What it will take for integrated device manufacturers to rise again

Large tech companies dominate the market headlines and stock indices. The Magnificent Seven or BATMMAAN — Broadcom, Amazon, Tesla, Microsoft, Meta (formerly Facebook), Apple, Alphabet and Nvidia — now account for 30% of the total US stock market value. Their dominance is driven by the artificial ...

Condivergence: Small tech stocks don’t follow the Big Tech boom

Almost all tech companies are investing in artificial intelligence (AI) but, given the intense competition, not everyone will be making big profits. The massive boom in tech stock valuations, especially Nvidia, OpenAI and Microsoft, suggests that they will earn more and more money but investing i...

Condivergence : Many tech companies may not win big from AI

“Continued American leadership in artificial intelligence (AI) is of paramount importance to maintaining the economic and national security of the US.” On his second day in office in his second term, President Donald Trump signed an executive order on AI to develop a national AI plan for enhancing American leadership in AI “without ideological bias”.

Condivergence: New year, new administration, new tech oligarchy?

There are two ways to gain competitive advantage. Build it internally (an organic approach), or acquire it through buying tech from someone else or through mergers and acquisitions (M&A) of another, often smaller, company. Eat lunch or be lunch.

How you fund the acquisition of new t...

Condivergence: Using M&A to gain competitive advantage in the tech sector

The tech industry is characterised by the need for continuous investment in research and development (R&D) that maintains competitive edge, meaning that entrepreneurs have to invest cash up-front for the longish term, without knowing exactly when they would get returns on such investments.

Condivergence: How cash flow and IPOs affect the tech sector

Capital markets are crucial for driving innovation as they provide both the high-risk, long-term funding and an exit mechanism for early-stage financing sources such as bank borrowings or venture capital. As companies compete against their rivals through innovation and investing in technology, kn...

Condivergence: Why the capital markets are critical to the tech sector

What is the outlook for China’s semiconductor industry under the second Trump administration, which begins on Jan 20 next year?

Condivergence: Turbulent path for China’s semiconductors under Trump 2.0

Leapmotor has struck a deal with Chinese state-owned automaker FAW to deliver an electric vehicle platform that will be used to drive overseas sales for Hongqi, an emerging national champion, executives from both companies said.

China's Leapmotor to supply EV platform to Hongqi, also in talks with Ferrari

KUALA LUMPUR (April 24): YTL Hotels has expanded its hospitality portfolio with the opening of two new properties — Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh.

YTL Hotels opens Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh

Norway's US$1.7 trillion (RM7.4 trillion) sovereign wealth fund, the world's largest, reported on Thursday a quarterly loss of 415 billion Norwegian crowns (US$39.72 billion) for the January to March period, largely driven by negative returns in the tech sector.

Norway wealth fund posts US$40b first-quarter loss on tech weakness

Singapore equities were set for an eighth straight session of gains on Thursday, marking their best winning streak since November 2022, as cooling inflation and demand for defensive stocks supported the benchmark index.

Singapore shares set for an eight-day rally; Asian FX muted 

Gucci sales tumbled in the first quarter as efforts to revive Kering SA’s biggest brand again failed to yield signs of a turnaround amid a tough period for the luxury-goods industry.

Gucci sales drop as Kering label struggles to revive demand

Abandoned housing has been a long-standing problem in Malaysia. According to the Real Estate and Housing Developers’ Association (Rehda) Institute in its recently released “Abandoned Housing — Challenges, Insights & Solutions Research Report”, the number of abandoned housing projects has been...

Stakeholder action needed to address abandoned housing issues, says Rehda Institute

China’s central bank chief Pan Gongsheng urged countries to help maintain confidence in the global economic system on a trip to the US, reiterating Chinese opposition to tariffs as American President Donald Trump signals a shift toward de-escalating tensions.

PBOC chief warns trade frictions threaten trust in world economy

Adidas AG reported better-than-expected earnings in the first quarter as consumers continue to snap up retro sneakers like the Samba in the face of growing economic uncertainty.

Adidas earnings bolstered again by retro sneaker craze

KUALA LUMPUR (April 24): The special sitting of Dewan Rakyat on May 5 to discuss the impact of the United States’ actions on the Malaysian economy will be held at the request of Prime Minister Datuk Seri Anwar Ibrahim.

Dewan Rakyat special sitting on May 5 held at PM’s request — Parliament

Rising tariffs and the weakening dollar are casting a shadow on companies’ profit guidance this earnings season, with more damage seen unfolding over the coming quarters.

US dollar’s slide raising red flags for corporate earnings

<p>A surge of complaints emerged on Thursday evening from investors across Bursa Malaysia, reporting that their accounts have been hacked and used for unauthorised trading activities.</p>


Widespread hacks hit stock trading accounts in Malaysia

<p>Datuk Muzaffar Hisham has resigned from his position as Malayan Banking Bhd’s (KL:MAYBANK) group chief executive officer of Islamic banking to helm Bank Pembangunan Malaysia Bhd (BPMB), according to sources.</p>


Muzaffar Hisham leaves Maybank's Islamic arm, said to be headed for top role at Bank Pembangunan

<p>IJM Corporation Bhd (KL:IJM) has acquired a 50% stake in financially troubled UK-based construction firm JRL Group for £50 million, or about RM283 million.</p>


IJM Corp completes acquisition of troubled UK builder for RM283m

<p>KUALA LUMPUR (April 24): YTL Hotels has expanded its hospitality portfolio with the opening of two new properties — Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh.&nbsp;</p>


<p>Crypto’s richest man, Changpeng Zhao, was in a playful mood as he addressed a packed house at the Ritz-Carlton in Kuala Lumpur, just seven months after his release from a low-security California prison.&nbsp;</p>


In KL, Binance billionaire Zhao guides regulators to relax crypto rules

<p>IGB Real Estate Investment Trust (KL:IGBREIT) and IGB Commercial Real Estate Investment Trust (KL:IGBCR) will see their former group chief financial officer Chai Lai Sim return from retirement to take the helm at both REITs.</p>


IGB REITs bring former CFO Chai Lai Sim out of retirement as new CEO

<p>China demanded that the US revoke all unilateral tariffs and said there were no talks on reaching a trade deal, maintaining a tough stance despite President Donald Trump’s easing of criticism of the country.</p>


China says US should revoke all unilateral tariffs, denies talks

<p>Magma Group Bhd (KL:MAGMA), which is primarily in hotel management and property development, announced the emergence of several new substantial shareholders on Thursday, including former national badminton player Datuk Wira Lee Chong Wei.</p>


Lee Chong Wei among Magma's newly emerged substantial shareholders after land deal

<p>The Transport Ministry supports the proposal to establish Port Klang Cruise Terminal (PKCT) as a transshipment hub, said minister Anthony Loke.</p>


Loke gives nod to proposal to turn Port Klang Cruise Terminal into transshipment hub

<p>KUALA LUMPUR (April 24): Tenaga Nasional Bhd (TNB)(KL:TENAGA) has more than doubled its budgeted capital expenditure (capex) to RM42.9 billion — comprising RM26.6 billion in base capex and RM16.3 billion in contingent capex — to support infrastructure development for Malaysia’s energy transition.</p>


TNB doubles capex to RM42.9b to back energy transition efforts

<p>The East Coast Economic Region Development Council (ECERDC) says Segamat, Johor has secured RM2.6 billion in committed investments for manufacturing and agriculture projects in the first quarter of 2025 (1Q2025).</p>


ECERDC: Segamat secures RM2.6b worth of manufacturing and agriculture investments in 1Q

<p>Pantech Global Bhd announced a special dividend of one sen after its fourth quarter net profit jumped 373% from the previous quarter, driven by a gain on bargain purchase and two months of earnings from newly acquired companies.</p>


Pantech Global declares special dividend after gain on bargain purchase

<p>LET’S start with the absurd: The US, the self-declared global beacon of green energy and moral leadership, just imposed a 3,500% tariff on solar panels from Southeast Asia.</p>


Opinion: A 3,500% tariff exposes the real villains behind America’s clean energy hypocrisy

<p>ViTrox Corp Bhd (KL:VITROX) said on Thursday that its net profit jumped 40.2% in the first quarter from a year earlier, driven by stronger sales and a more favourable product mix.</p>


ViTrox sees double-digit earnings growth for FY2025 after 1Q profit surges 40% 

<p>Prime Minister&nbsp;Datuk Seri Anwar Ibrahim&nbsp;stressed that there will be no double standards in the matter involving the incomplete display of the national flag, and that investigations will be carried out against all parties involved.</p>


Jalur Gemilang gaffes: Anwar says no double standards, pledges to probe all parties involved

<p>Norway's US$1.7 trillion (RM7.4 trillion) sovereign wealth fund, the world's largest, reported on Thursday a quarterly loss of 415 billion Norwegian crowns (US$39.72 billion) for the January to March period, largely driven by negative returns in the tech sector.</p>


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<p>Read more i...

Stock markets work only if they are a ‘growth enabler’, not a cashing-out machine

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.</p>


ViTrox, Unisem, Atlan, Luxchem, Pantech Global, Chin Hin, Ajiya, Binastra, Magma, IGB REIT, IGB Commercial REIT, Steel Hawk, Perdana Petroleum

<p>Two of Britain’s richest real estate investors have ditched the UK as their home territory, the latest departures among the country’s elite as the nation hits wealthy residents with tax hikes.</p>


Top Goldman banker, property billionaires add to UK wealth exits

<p>Kumpulan Jetson Bhd’s board faces a new removal attempt by minority shareholders, who claim to hold at least 10% of shares, giving them the right to call an EGM to vote on removing the board and appointing new directors.</p>


Andrew Sheng

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Andrew Sheng

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