Malaysia Money Matters Daily News Digest 25th Apr 2025

In today’s episode, we break down a packed slate of corporate updates, mega investments, and geopolitical moves that are shifting the ground under investors’ feet—from Tenaga’s RM42.9B green push to Malaysia’s high-stakes tariff diplomacy in Washington.🏢 Malaysian Company & Market News🔹 Tenaga Nasional’s RM42.9B Green BetTNB more than doubles its capex to support Malaysia’s energy transition. Major investments are planned for grid upgrades, solar, hydrogen, EV infrastructure, and carbon capture—signalling deep commitment to long-term decarbonisation.🔹 AME REIT: Industrial Steady, But Costs BiteQ4 NPI edged up 1.7%, but net profit fell 12.7% on lower property revaluation gains. FY2024 ends on a solid note with 4.5% NPI growth and full occupancy guidance for FY2026.🔹 Atlan Holdings: Profit Surges on One-Off GainQ4 net profit doubled, but largely due to a RM16.8M land compensation windfall. Operational revenue fell 18%, and caution looms over rising costs, weak spending, and looming US auto tariffs.🔹 Bursa Malaysia: Q1 Profits Set to SlipProfit could fall as much as 27% on lower trading activity and cautious sentiment tied to tariff uncertainty. No Q1 dividend expected.🔹 REITs Report Solid QuartersIGB REIT and IGB Commercial REIT posted higher DPUs on stronger rental income and occupancy—though both flagged inflation, subsidy cuts, and office oversupply as headwinds.🔹 ViTrox Q1 Profit Jumps 40%Robust demand for AI, automotive and HPC-related products drives a strong quarter. Double-digit growth forecast for FY2025.🔹 Unisem, Luxchem, At Risk from Cost PressuresDespite higher revenue, both posted weaker profits due to margin compression. Unisem flagged trade restrictions and tariffs as risks going forward.🔹 ZUS Coffee Targets 200 New StoresMalaysia’s largest coffee chain plans a major Southeast Asia expansion in 2025, entering Thailand and Indonesia after tripling profits in 2024.🔹 MCE Holdings Lands RM120M in Auto DealsNew contracts from JVIS USA, Perodua, and Proton position MCE across ICE and EV supply chains—securing business ahead of possible US auto part tariffs.🔹 Petronas Carigali Activity Boosts Oil & Gas ServicesReservoir Link and Steel Hawk secure contracts tied to well testing and offshore maintenance. Positive signs for the O&G support ecosystem.🔹 Ferrotec Invests Another RM1B in KedahJapan’s Ferrotec expands its semiconductor footprint with a second facility, creating 1,000+ jobs. Total investment in Malaysia now RM1.9B.🔹 Others:* Texchem returns to profitability on restaurant rebound* ICT Zone Asia sets ACE Market listing for Q2* U Mobile teams up with CT Sabah to push 5G rollout* TSMC reveals roadmap for next-gen chip tech* Reach Ten IPO oversubscribed 1.85x🌍 Global Trends & Political Moves🔸 US–China Trade War: No Talks, More TensionChina demands full tariff removal before any talks. Meanwhile, the US launches a new probe into truck imports and considers exemptions on autos.🔸 Trump vs The Fed: Markets on EdgePresident Trump’s criticism of Fed Chair Powell is fuelling fears over Fed independence. Markets fell; gold hit US$3,500 before easing slightly.🔸 IMF Cuts Global Growth ForecastsCiting US tariff policy, the IMF downgrades projections for the US and world economy. Malaysia’s forecast trimmed to 4.1% for 2025.🔸 Malaysia–US Tariff Talks UnderwayMITI Minister is in Washington, pushing for Malaysia to be exempted from potential new tariffs. A pivotal negotiation for exports and growth outlook.🔸 Commodities & Markets:* Gold: Rebounds as safe-haven buying returns* Oil: Slight recovery amid supply concerns and OPEC+ output talk* Copper: Prices climb on signs of softening US–China rhetoric* TSMC: A14 chip production roadmap unveiled for 2028📌 Key Takeaways & Investor Insights✅ TNB’s Green Pivot Is Game-ChangingThe RM42.9B capex jump signals aggressive infrastructure transformation and long-term opportunity in renewables.✅ Tariffs Touch EverythingFrom Atlan to Bursa to Unisem, the US-China trade conflict continues to shape corporate decisions and investor sentiment.✅ Malaysia in the Middle of the StormWith our trade minister now in DC and companies on edge, the next few weeks could define Malaysia’s position in a shifting global supply chain.✅ REITs, Tech, and Energy Showing ResilienceSelective sectors like REITs, ViTrox, and energy infra continue to outperform amid broader uncertainty.🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple Podcasts.Malaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit mmoneymatters.substack.com