Latest news with #TengkuZafrul
South China Morning Post
14 hours ago
- Business
- South China Morning Post
Caught in the chip war, Malaysia must rethink its US–China balancing act
Malaysia has landed in another tight spot – this time over claims Chinese engineers may have accessed high-end Nvidia chips on its soil to train artificial intelligence models, potentially breaching US export controls. Advertisement The timing could hardly be worse. Trade Minister Tengku Zafrul Aziz and Second Finance Minister Amir Hamzah Azizan were in Washington this week to negotiate down a steep 24 per cent 'reciprocal tariff' imposed by US President Donald Trump in April. Now, their efforts risk being overshadowed by fears in Washington that Malaysia is serving as a backchannel for Chinese firms to access restricted chips – fears that could harden American attitudes and demands. The report, first published by the Wall Street Journal, claimed that an unnamed Chinese firm had booked out Malaysian data centres equipped with Nvidia's most advanced chips. US policy restricts the sale or export of these chips to China and its military-linked entities, including via third countries. A banner showing Nvidia branding at the AI & Big Data Expo 2025 in London on February 5. Photo: Reuters While it is unclear whether any laws were broken, the perception alone could prove damaging. Analysts expect Washington may use the case as leverage to push Malaysia into stricter enforcement of US export controls, especially given the billions of dollars in investments by American tech firms in Malaysian plants and data centres.
Free Malaysia Today
15 hours ago
- Business
- Free Malaysia Today
Bursa ends mixed in choppy trading
KUALA LUMPUR : Bursa Malaysia ended a choppy but directionless trading session, with the index moving in a narrow range, amid global uncertainties, as investors refrained from taking long positions. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices ended broadly lower as geopolitical tensions escalated over potential involvement of the US in the Israel-Iran conflict. Risk appetite declined amid reports that US president Donald Trump had met with senior advisers to review military options, including possible strikes on Iran. 'Locally, we maintain our cautious stance due to the escalation of geopolitical tensions in the Middle East. 'We are hopeful that Israel and Iran will engage in peace talks to ease tensions and restore confidence among local investors,' he told Bernama. Thong noted that buying opportunities may emerge in oil and gas and plantation stocks. 'For the moment, we maintain our weekly FTSE Bursa Malaysia KLCI (FBM KLCI) target at the 1,500-1,530 range,' he said. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan said on the local front, attention turned to the progress of the US-Malaysia trade negotiations. Investment, trade and industry minister Tengku Zafrul Aziz and his delegation's arrival in Washington to engage with US trade representative Jamieson Greer and senior officials marks a pivotal moment in addressing tariff-related uncertainties that have clouded investor outlook in recent weeks. 'Despite the cautious backdrop, selected domestically oriented sectors saw notable interest. 'Consumer discretionary and telecommunications stocks led gainers, underscoring investor confidence in Malaysia's underlying economic resilience,' said Sedek. Adding to the constructive narrative, Malaysia's sharp rise in the latest International Institute for Management Development (IMD) World Competitiveness Ranking (WCR) 2025 – advancing 11 spots to 23rd globally – reinforces the country's reform momentum and macroeconomic credibility. 'This supports our positive medium-term outlook, particularly for the construction sector, where structural themes such as hyperscale data centre investments and the Johor-Singapore special economic zone are expected to serve as key catalysts for growth,' he added. At 5pm, the FBM KLCI reversed earlier losses to settle 0.31 of-a-point or 0.02%, higher to 1,511.95 from yesterday's close of 1,511.64. The benchmark index opened 0.25 of-a-point higher at 1,511.89 and fluctuated between 1,509.42 and 1,512.96 throughout the trading session. The broader market was, however, negative, with 488 decliners outnumbering 361 gainers. A total of 503 counters were unchanged, 1,054 were untraded and 13 were suspended. Turnover declined to 2.42 billion units valued at RM1.79 billion compared with yesterday's 3.03 billion units worth RM1.92 billion. Among heavyweights, Maybank gained 7 sen to RM9.62, Tenaga Nasional dipped 8 sen to RM14.22, Public Bank added 2 sen to RM4.24, CIMB slid 1 sen to RM6.65, and IHH Healthcare eased 4 sen to RM6.85. As for the most active stocks, Tanco Holdings inched up 0.5 sen to 98 sen, SNS Network Technology gained 4 sen to 53.5 sen, Magma Group rose 3 sen to 46 sen, NexG shed 1.5 sen to 34.5 sen, and Alam Maritim Resources slid 0.5 sen to 3 sen. On the index board, the FBM Emas Index was down by 1.47 points to 11,301.81 and the FBMT 100 Index dropped 2.44 points to 11,080.10. The FBM Emas Shariah Index fell 8.03 points to 11,310.34, the FBM ACE Index slipped 1.63 points to 4,441.34, and the FBM 70 Index shrank 22.21 points to 16,200.79. Sector-wise, the plantation index dipped 12.70 points to 7,238.04, but the energy index rose 1.84 points to 740.61. The financial services index climbed 24.86 points to 17,421.43, but the industrial products and services index eased by 0.09 of-a-point to 150.06. The Main Market volume narrowed to 1.06 billion units valued at RM1.55 billion from 1.19 billion units worth RM1.61 billion registered at yesterday's close. Warrants turnover shrank to 1.16 billion units worth RM180.99 million versus 1.62 billion units valued at RM245.78 million previously. The ACE Market volume declined to 194 million units valued at RM60.65 million against 210.30 million units worth RM71.29 million yesterday. Consumer products and services counters accounted for 187.75 million shares traded on the Main Market, industrial products and services (133.44 million), construction (78.61 million), technology (158.98 million), SPAC (nil), financial services (62.21 million), property (112.25 million), plantation (14.12 million), REITs (23.75 million), closed end fund (9,900), energy (124.29 million), healthcare (72.78 million), telecommunications and media (35.20 million), transportation and logistics (29.70 million), utilities (31.23 million), and business trusts (24,900).
Free Malaysia Today
a day ago
- Business
- Free Malaysia Today
US tariff talks progressing well, says Anwar
Prime Minister Anwar Ibrahim delivering his keynote address at the 38th Asia Pacific Roundtable in Kuala Lumpur today. KUALA LUMPUR : Prime Minister Anwar Ibrahim says meetings in Washington to discuss the tariffs imposed on Malaysian exports are progressing well. Anwar said he had received positive updates from investment, trade and industry minister Tengku Zafrul Aziz and finance minister II Amir Hamzah Azizan after their meeting with US secretary of commerce Howard Lutnick yesterday. 'I received text messages from (them) and they said the meeting went excellently,' he said during his keynote address at the 38th Asia Pacific Roundtable here. Tengku Zafrul travelled to Washington yesterday to continue negotiations on the tariffs imposed on Malaysian goods. He previously said that discussions would focus on three key areas: reducing the current 24% tariff rate, addressing non-tariff barriers, and narrowing the trade imbalance between Malaysia and the US. Malaysian exports to the US face a 24% tariff unless an agreement is reached before a 90-day suspension expires on July 8. Anwar said Malaysia had consistently stressed the importance of regional cooperation in addressing trade challenges, particularly through Asean 'We always emphasise that to secure what is fair for Malaysia, we must present our case through Asean,' he said. 'I urge my colleagues in Asean to do the same. Present a united bilateral position to remain a credible and constructive partner.' Anwar acknowledged that the imposition of unilateral tariffs by the US presented a significant challenge to Malaysia and the region, particularly given the interconnected nature of global supply chains. He stressed that international trade should be governed by transparent rules and legitimate, inclusive legal frameworks, not unilateral tariffs or 'coercive economic measures'. Anwar also warned that disruptions in trade and supply chains could have detrimental effects on businesses and hamper economic growth, further undermining efforts to enhance the region's socio-economic development. He affirmed that Malaysia would continue to engage constructively with global partners including the US, China, European Union, and India to promote both national and regional interests. 'Malaysia's strategy of active non-alignment is a deliberate and principled approach aimed at maximising strategic flexibility, preserving decision-making autonomy, and engaging all partners on our own terms,' he said.
Free Malaysia Today
a day ago
- Business
- Free Malaysia Today
Malaysia secures RM4.6bil potential investments at Semicon SEA 2025
Investment, trade and industry minister Tengku Zafrul Aziz said discussions with Singaporean firms opened RM270 million in export potential. (Bernama pic) KUALA LUMPUR : Malaysia has successfully attracted potential investments amounting to RM4.6 billion through its participation in the region's premier platform for the global electronics and semiconductor industry, Semicon Southeast Asia (SEA) 2025, further proving Malaysia's appeal in the eyes of international investors. Investment, trade and industry minister Tengku Zafrul Aziz said the event, described as the 'World Cup' of the microelectronics and semiconductor industry, saw the Malaysian delegation holding strategic meetings with investors in the electrical and electronics (E&E) engineering sector, including major data centre players. In addition to its investment potential, Tengku Zafrul noted that the Malaysia Pavilion also garnered international attention when nine local companies showcased various high-tech products, including testing equipment, system solutions, and innovations in electronic waste management that align with environmental, social, and governance (ESG) principles. 'These companies recorded annual revenue exceeding RM843 million, the majority of which came from exports to international markets. 'During the event, we also attracted buyers from Singapore, Japan, China, and the US, resulting in an export potential of nearly RM237 million,' he said in a video posted on Instagram Reels. In another development, Tengku Zafrul stated that Malaysia has also held discussions with major companies from Singapore in the food and beverage sector, as well as fast-moving consumer goods, to explore opportunities for exporting Malaysian-made halal products to the country. He said the discussions opened the door to additional export potential worth RM270 million. 'This is a golden opportunity for Malaysian producers to penetrate the Singaporean market, with a total potential investment of RM4.6 billion and export potential of RM507 million,' he said.
The Star
2 days ago
- Business
- The Star
Tariff talks with Washington have been excellent, says Anwar
KUALA LUMPUR: Ongoing negotiations with the US over its unilateral tariffs are going very well, says Datuk Seri Anwar Ibrahim ( pic ). The Prime Minister said this was conveyed by Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz and Finance Minister II Datuk Seri Amir Hamzah Azizan, who are both currently in Washington DC leading the talks. 'This morning, I received a message from the Miti Minister and the Finance Minister II, that the meetings with the US Secretary of Commerce have been excellent. 'We always emphasised the need to secure what is fair for Malaysians and always represent the case for Asean,' said Anwar in his keynote address at the 38th Asia-Pacific Roundtable in KL on Thursday (June 19). 'I have also urged my colleagues in Asean to do likewise, present bilateral positions and emphasise the need for Asean to remain as a cohesive force,' added Anwar. Tengku Zafrul and Amir flew to Washington DC on June 18 to continue negotiations over the US tariffs imposed on Malaysian goods. It was previously reported that Tengku Zafrul was scheduled to meet US trade representative Jamieson Greer and other officials, investors, and business groups including the American Malaysian Chamber of Commerce. Malaysia faces a 24% tariff on certain exports to the US unless both sides can reach an agreement before the 90-day pause ends on July 8
