In today’s episode of Malaysia Money Matters, we break down major shifts in Malaysia’s corporate scene—from AirAsia’s aircraft talks and Bertam’s PN17 exit to a RM15 billion data centre deal in Johor.
We also explore the Ministry of Finance’s SST clarification, trade tensions reshaping global flows, and the World Bank’s stark warning on global growth.
🇲🇾 Malaysian Company & Market News
🔹 AirAsia Eyes 100 New JetsReportedly in advanced talks to buy 100+ Airbus aircraft, including A220s. A possible strategic shift toward regional routes and a key milestone as it pushes toward PN17 exit.
🔹 Bertam Alliance Exits PN17After 7 years under financial distress status, Bertam has completed its regularisation plan and is officially out of PN17 as of June 12.
🔹 Cuckoo International Cuts IPO PriceReduces IPO price to RM1.08, lowering fundraising to RM155M and slashing valuation to RM1.55B. Follows weaker-than-expected market response and a listing delay.
🔹 DayOne Secures RM15B for Data Centre ProjectMassive financing package for Johor-Singapore SEZ project, including a green Islamic facility. Strengthens Malaysia’s digital infrastructure ambitions.
🔹 FGV Gets Green Light on RM230M Subsidiary BuyDeemed “fair and reasonable.” Expected to slightly boost EPS, giving FGV tighter control over key operating units.
🔹 GDEX Targets Continued RecoveryBack in the black in Q4 FY24. Strong cash supports dividends and potential selective tech acquisitions to drive FY25 earnings.
🔹 Kim Teck Cheong Buys KK LandAcquires 15+ acres for RM40M to build a regional hub in Kota Kinabalu. Supports growth in East Malaysia, Brunei, and Indonesia.
🔹 Mudajaya Resolves RM52.7M DisputeSettlement with THB Power to be paid in tranches, improving books and ending legal action.
🔹 Penang Port Expansion Includes New Petroleum TerminalNorthern petroleum terminal planned under master development. Aims to enhance port capacity for bulk liquid cargo.
🔹 PLUS & Yinson Partner on EV HubsNew charging/rest zones planned on North-South Expressway. First site in Seremban by 2027, supporting Malaysia’s green mobility goals.
🔹 U Mobile & OCK Group Team Up for 5GPact enables U Mobile to fast-track in-building 5G deployment using OCK’s infrastructure expertise.
🔹 UUE Holdings Lands RM92.4M TNB DealHorizontal drilling contract tied to energy transition projects. Boosts FY25 earnings forecast and reinforces TNB partnership.
🔹 Vizione & Permaju Scrap RM490M Sabah DealSabah housing project terminated due to viability concerns. No financial impact as work had yet to begin.
🌍 Global Trends & Their Impact on Malaysia
🧾 MOF Clarifies SST ExpansionNew 8% tax from July 1 targets non-essential, imported goods and high-end services. Essentials remain exempt, aiming for fairness and funding targeted aid.
🏭 April Industrial Output SlowsIndustrial production up 2.7% YoY—below expectations. Stronger manufacturing offset by declines in mining and electricity.
📉 Unemployment Falls to 10-Year LowJobless rate hits 3.0% in April. Reflects strong domestic demand and effective policy support—signals near full employment.
🇺🇸 Tengku Zafrul Heads to WashingtonResumes trade talks on tariffs and non-tariff barriers. Comes amid signs of trade diversion from China to Southeast Asia.
🌐 Trump Claims US-China Deal FrameworkMentions agreements on critical minerals and students. Markets react cautiously amid lack of details and continued tariff risk.
🛢️ Oil Prices Edge Higher on Trade HopesClimbs toward 7-week high, but upside capped by OPEC+ supply increases starting July.
📉 Fitch Downgrades Global Sovereign Outlook2025 shifted to “deteriorating” due to policy instability, debt levels, trade friction, and geopolitical risks.
💴 Japan Wholesale Inflation SlowsDown to 3.2% YoY in May. Import cost drop reduces pressure on BOJ to hike, despite rising food prices.
🇹🇼 Taiwan Insurers Face US Bond LossesOver US$700B in US bond exposure with weak hedging. Currency moves create systemic risk in Taiwan’s life insurance sector.
📉 World Bank Cuts Global Growth Forecast2025 growth now pegged at 2.3%. Warns 2020s may become weakest decade since the 1960s due to trade tensions and uncertainty.
📌 Key Takeaways & Investor Insights
✅ AirAsia and Bertam show signs of corporate renewal as PN17 exits gain momentum.✅ DayOne’s RM15B financing underscores foreign confidence in Johor’s digital infrastructure.✅ Malaysia’s economy shows resilience—record-low unemployment, rising manufacturing.✅ Global risks intensify: Fitch downgrades outlook, World Bank warns of “lost decade.”✅ Trade tensions continue to ripple across Southeast Asia—watch US talks, China diversion, and SST expansion impacts.
🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!
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