We consider how social and psychological connections among CEOs explain the propensity for corporate leaders to distance themselves socially from journalists who engage in negative reporting about firm leadership at other companies, and we examine the consequences for the valence of journalists' subsequent coverage. Our theoretical framework suggests that journalists who have engaged in negative coverage of a firm's leadership and strategy are especially likely to experience distancing from other leaders who (i) have friendship ties to the firm's CEO, (ii) are demographically similar to the CEO on salient dimensions, or (iii) are socially identified with the CEO as a fellow member of the corporate elite. Our theory and findings ultimately suggest that, due to the multiple sources of social identification between CEOs, journalists who engage in negative coverage of firm leadership tend to experience social distancing from multiple CEOs, and such distancing has a powerful influence on the valence of journalists' subsequent reporting about firm leadership and strategy across all the firms that they cover. We also extend our theoretical framework to suggest how the effect of social distancing on the valence of journalists' coverage is moderated by the early and late stages of a journalist's career.

Beside making organizations look like their peers through the adoption of similar attributes (which we call alignment), this paper highlights the fact that conformity also enables organizations to stand out by exhibiting highly salient attributes key to their field or industry (which we call conventionality). Building on the conformity and status literatures, and using the case of major U.S. symphony orchestras and the changes in their concert programing between 1879 and 1969, we hypothesize and find that middle-status organizations are more aligned, and middle-status individual leaders make more conventional choices than their low- and high-status peers. In addition, the extent to which middle-status leaders adopt conventional programming is moderated by the status of the organization and by its level of alignment. This paper offers a novel theory and operationalization of organizational conformity, and contributes to the literature on status effects, and more broadly to the understanding of the key issues of distinctiveness and conformity.

Building on prior work showing that abusive supervision is a reaction to subordinates' poor performance, we develop a self-control framework to outline when and why supervisors abuse poor performing subordinates. In particular, we argue poor performing subordinates instill in supervisors a sense of hostility towards the subordinate, which in turn leads to engaging in abusive supervision. Within this self-control framework, poor performance is more likely to lead to abusive supervision when (a) the magnitude of the hostility experienced is higher (e.g., for those with a hostile attribution bias), or (b) the translation of hostility into abusive supervision is unconstrained (e.g., for those who are low in trait mindfulness). In two experimental studies with full-time supervisors where we manipulated the independent variable (Study 1) and the mediator (Study 2), and in a multi-wave and multi-source field study with data collected from supervisor-subordinate teams (50 supervisors and 206 subordinates) at two time points (Study 3), we found overall support for our predictions. Implications for how to reduce the occurrence of abusive supervision in the workplace are discussed.

While many studies explain how social science theories shape social reality, few reflect critically on how such theories should shape social reality. Drawing on a new conception of social welfare and focusing on financial regulation, we assess the performative effects of theories on public policy. We delineate how research that focuses narrowly on questions of efficiency and stability reinforces today's technocratic financial regulation that undermines social welfare. As a remedy, we outline how future management research can tackle questions of social justice and thereby promote an inclusive approach to financial regulation that better serves social welfare.

Firms play a crucial role in furthering social welfare through their ability to foster stakeholders' contributions to joint value creation, i.e., value creation that involves a public-good dilemma due to high task and outcome interdependence - leading to what economists have labeled the 'team production problem'. We build on relational models theory to examine how individual stakeholders' contributions to joint value creation are shaped by stakeholders' mental representations of their relationships with the other participants in value creation, and how these mental representations are affected by the perceived behavior of the firm. Stakeholder theory typically contrasts a broadly-defined 'relational' approach to stakeholder management with a 'transactional' approach based on the price mechanism - and has argued that the former is more likely to contribute to social welfare than the latter. Our theory supports this prediction for joint value creation, but also implies that the dichotomy on which it is based is too coarse-grained: there are three distinct ways to trigger higher contributions to joint value creation than through a 'transactional' approach. Our theory also helps explain the tendency for firms and their stakeholders to converge on 'transactional' relationships, despite their relative inefficiency in the context of joint value creation.

This study explores the hybridization of field-level logics. We define hybridized logics as rules of action, interaction, and interpretation that integrate the goals of previously incompatible logics through material forms, practices, and governance arrangements. Through an inductive study of the wind energy field in Colorado, we find that a hybridized logic emerged through a process in which organizational responses to logic incompatibility drove shifts in the relationship between logics and organizations. Compromise and framing efforts unintentionally initiated a process of logic hybridization by catalyzing proponents of the subordinate logic to contest the dominant logic and alter the balance of power in the field. Hybrid organizations then emerged to establish, legitimize, and embed a new set of inter-linked frames, practices, and arrangements that integrated previously incompatible logics. Our findings suggest that the hybridization of field-level logics is a complex process in which organizational actions and field-level conditions recursively influence each other over time.

Previous academic and popular literature has raised important debates concerning the contradictory incentives of international firms to reduce their environmental impacts and offer transparent environmental information about their operations. As an exhaustive review of this literature reveals mixed and partial evidence, we compared the individual corporate environmental performance and disclosure of the 100 most international non-financial firms in the world to those of 16,023 firms in their industries and a group of matched pairs of firms for three different years. Our results show that although the top international firms have a much better record of environmental disclosure than the firms within their industries and the matched pairs, the top international firms also show worse environmental performance than their peers. The results suggest that the top international firms seek legitimation for their environmental activities by means of voluntary disclosure.

Prior research on mergers and acquisitions (M&As) has substantially advanced our understanding of how isolated acquirer- and deal-specific factors affect abnormal returns. However, investors are likely to perceive and evaluate M&As holistically—that is, as complex configurations (i.e., Gestalts) of characteristics, rather than as a list of independent factors. Yet, extant M&A literature has not addressed why and how configurations of factors elicit positive or negative reactions. In other words, overlooking the interdependent nature of factors known to influence acquisition success has limited our understanding of both M&As and investor judgment. Taking an inductive approach to addressing this important issue, this study relies on fuzzy set methodology. Our results provide compelling evidence that investor perceptions of M&A announcements are not only configurational in nature but also characterized by equifinality - or the presence of multiple paths to success - and asymmetric causality - that is, configurations that represent bad deals are not simply a mirror image of good deals, but differ fundamentally. By constructing a typology of "good" and "bad" deals as perceived by market participants, we develop a mid-range theory of M&A stock market performance. As such, this study offers novel theoretical and empirical insights to scholars, and implications for practitioners.

Using data from 607 subjects organized in 161 teams (84 laboratory teams and 77 organizational field teams), we examined how leader humility influences team interaction patterns, emergent states, and team performance. We developed and tested a theoretical model arguing that when leaders behave humbly, followers emulate their humble behaviors, creating a shared interpersonal team process (collective humility). This collective humility in turn creates a team emergent state focused on progressively striving toward achieving the team's highest potential (collective promotion focus), which ultimately enhances team performance. We tested our model across three studies wherein we manipulated leader humility to test the social contagion hypothesis (Study 1), examined the impact of humility on team processes and performance in a longitudinal team simulation (Study 2), and tested the full model in a multistage field study in a health services context (Study 3). The findings from these lab and field studies collectively supported our theoretical model, demonstrating that leader behavior can spread via social contagion to followers, producing an emergent state that ultimately affects team performance. Our findings contribute to the leadership literature by suggesting the need for leaders to lead by example, and showing precisely how a specific set of leader behaviors influence team performance, which may provide a useful template for future leadership research on a wide variety of leader behaviors.

Drawing on theories of behavioral decision making and situational strength, we developed and tested a multilevel model that explains how the performance outcomes of personal initiative tendency depend on the extent of alignment between organizational control mechanisms and proactive individuals' risk propensities. Results from a sample of 383 middle managers operating in 34 business units of a large multinational corporation indicated that risk propensity weakens the positive relationship between personal initiative tendency and job performance. This negative moderating effect was further amplified when middle managers receive high job autonomy but was attenuated in business units with a strong performance management context. We discuss the implications of these findings for research on proactivity, risk taking, and organizational control.

The promise of a closer union between organizational and historical research has long been recognized. However its potential remains unfulfilled: the authenticity of theory development expected by organization studies and the authenticity of historical veracity required by historical research place exceptional conceptual and empirical demands on researchers. We elaborate the idea of historical organization studies, organizational research that draws extensively on historical data, methods and knowledge to promote historically informed theoretical narratives attentive to both disciplines. Building on prior research, we propose a typology of four differing conceptions of history in organizational research: history as evaluating, explicating, conceptualizing, and narrating. We identify five principles of historical organization studies - dual integrity, pluralistic understanding, representational truth, context sensitivity and theoretical fluency - and illustrate our typology holistically from the perspective of institutional entrepreneurship. We explore practical avenues for a creative synthesis, drawing examples from social movement research and micro-history. Historically informed theoretical narratives whose validity derives from both historical veracity and conceptual rigor, afford dual integrity that enhances scholarly legitimacy, enriching understanding of historical, contemporary and future-directed social realities.

This article extends the understanding of what impels buyers to contact particular sellers in online business-to-business (B2B) marketplaces, which are typically characterized by sparse social structures and concomitant limitations in observing social cues. Integrating an institutional perspective with signaling theory, our core argument is that offline seller characteristics that are visible online—in particular, geographic location and legal status—convey credible signals of seller behavior because they provide buyers with information on sellers' local institutional quality and the institutionally-induced obligations and controls acting on sellers. Using unique data from a large Italian online B2B marketplace between the fourth quarter of 1999 and July 2001, we find that both sellers' local institutional quality and their legal statuses affect a buyer's likelihood of contacting a seller. Moreover, consistent with the idea that a buyer's own local institutional quality generates a relevant reference point against which sellers are evaluated, we find that a buyer is progressively more likely to contact sellers the higher their local institutional quality relative to the buyer. Jointly, our findings imply that in online B2B marketplaces, signals conveyed by sellers' geographic locations and legal statuses may be substantive sources of competitive heterogeneity and market segmentation.

We study the effects of actors' audience-specific reputations on their levels of success with different audiences in the same field. Extending recent work that has emphasized the presence of multiple audiences with different concerns, we demonstrate that considering audience specificity leads to an improved understanding of reputation effects. Using data on emerging artists in the field of contemporary art from 2001 to 2010, we investigate the manner in which artists' audience-specific reputations affect their subsequent success with two distinct audiences: museums and galleries. Our findings suggest that audience-specific reputations have systematically different effects with respect to success with museums and galleries. Our findings also illuminate the extent to which audience-specific reputations are relevant for emerging research on the contingent effects of reputation. In particular, our findings support our predictions that audiences differ from one another in terms of the extent to which other signals (specifically, status and interaction with other audiences) enhance or reduce the value of audience-specific reputations. Our study thus advances theory by providing empirical evidence for the value of incorporating audience-specific reputations into the general study of reputation.

This article examines the conditions under which organizations publicly respond to unfavorable consumer evaluations that challenge their market identity. Because organizations' market identities are certified by expert evaluations, consumers' devaluations that challenge these expert evaluations represent an identity threat. However, organizations do not always react to consumers' devaluations because of the risks associated to public responses. Hence, we first predict that organizations are more likely to respond to severe devaluations than to weaker ones; second, we propose that organizations, when faced with severe devaluations, are more likely to craft responses that justify their actions and behaviors. We further contend that, for any market identity under consideration, an organization's reputation amplifies these relationships. Analyses of a dataset of London hoteliers' responses to online reviews posted on TripAdvisor during the period 2002-2012 lend substantial support to our hypotheses.

Growing workforce diversity increases the likelihood that supervisors and subordinates will differ along demographic lines, a situation that has important implications for their relationship quality and individual outcomes. In a sample of 1,253 employees from 54 work-units, we investigate the effects of differences in disability status between supervisors and subordinates on leader-member-exchange (LMX) quality and subsequent performance ratings, and find that incongruence in general is related to lower LMX quality and lower performance. In addition, we propose and find an asymmetrical effect of disability incongruence, such that LMX quality is worse in dyads in which the supervisor has a disability than in dyads in which the subordinate has a disability. Furthermore, we investigate the moderating role of unit-level climate for inclusion on this relationship and find support for a buffering effect of inclusive climates on the negative incongruence-LMX relationship for scenarios in which the supervisor, but not the subordinate, has a disability. We build relevant theory for the relational demography, disability, LMX, and organizational climate literatures by predicting these effects on the basis of status mechanisms. These findings have important practical implications, as they provide companies with a feasible way to manage their diverse workforce.

The work life of misfits - employees whose important values are incongruent with the values of their organization - represents an under-researched area of the person-environment fit literature. The unfortunate reality is that these individuals are likely to be disengaged and unproductive at work. In this manuscript, we entertain the possibility that employees can protect themselves from this situation if they engage in alternative actions that supplement the fundamental needs that go unmet from value incongruence. We integrate theorizing about the motivational role of need fulfillment and work/non-work behaviors in order to examine whether two actions in particular - job crafting and leisure activity - can potentially mitigate the negative effects of value incongruence on employee performance. In a field study of employees from diverse organizations and industries, the results suggest that both job crafting and leisure activity indeed act as a buffer, mitigating the otherwise negative effects of value incongruence on employee engagement and job performance (both task performance and citizenship behavior).

We augment transaction cost economics' (TCE) bounded rationality assumption with heuristics (framing) and cognitive biases to expand the understanding of hierarchical governance in the theory. TCE traditionally puts opportunism in the frontseat, while primarily relegating bounded rationality to the support role of invoking incomplete contracts. The theory also suggests that hierarchical governance effectively mitigates opportunism-based transaction costs, making it difficult to explain why hierarchies are not always used. However, when an augmented bounded rationality assumption is incorporated into TCE, we argue, first, that bounded rationality is a separate source of transaction costs, and, second, that these costs are not equally mitigated by all forms of hierarchy. Instead, different hierarchical forms are associated with particular frames and social referents that naturally enhance specific bounded rationality-based conflicts, allowing certain hierarchical forms to mitigate bounded rationality-based transaction costs better than others. As a result, bounded rationality takes a frontseat in the theory, addressing prior critiques of TCE, expanding the governance questions addressed by the theory and creating a new moderating role for asset specificity in internal exchanges.

Labor codes have been voluntarily adopted and used by manufacturers in emerging economies for the past two decades, as a means of ensuring minimally acceptable or core labor standards for workers. However, far too little is known of the potential benefits from the voluntary adoption of labor codes to the manufacturer, and prior human resource management research has been virtually silent on the business implications of their use for emerging economy manufacturers participating in global supply chains. Drawing on previous work across multiple disciplines and proposing a framework that extends human resource management theory more explicitly and rigorously to the context of emerging economy manufacturing, I theorize and demonstrate that the voluntary adoption of a labor code may constitute an effective human resource investment in emerging economies in improving establishment-level employee outcomes and operational and financial performance. The hypotheses are tested using longitudinal data on a sample of apparel manufacturing plants in Sri Lanka. Implications of this study include providing insight into how to expand the scope and relevance of human resource management theory to better understand research and practice in emerging economies.

This book centers on the author's discovery, and moral disapproval, of expedient arrangements adopted by American firms in China, through which 'middlemen', operating as independent agents, pay bribes as part and parcel of the troublesome process of negotiating and clinching business deals there.

Organizational theorists are increasingly interested in the antecedents of terminating interorganizational relationships, but have paid little attention to the disruptive consequences of such terminations on future tie formation. To redress this imbalance, the present study focuses on how venture capital (VC) firms' withdrawals from VC syndicates are associated with their subsequent syndication over the 1985 through 2008 period. We argue that withdrawals disrupt the relationships of the withdrawing VC firms with the coinvestors and reduce the likelihood of them entering into subsequent exchange (relational consequences). Furthermore, public information on the withdrawals can undermine the withdrawing VC firm's reputation for reliability, making it a less desirable exchange partner overall (global reputational consequences). Finally, we find that abandoned coinvestors can spread negative, private information about the withdrawing firm, reducing its chances of syndication with their other network contacts (local reputational consequences). We also show that the global and local reputational consequences attenuate each other, due to redundancy in the content of information each provides. We discuss the implications of our theory for the research on network dynamics and reputation.

The burgeoning economic inequality between the richest and the poorest is a cause of concern for social, political, and ethical reasons. While businesses are both implicated and affected by growing inequality, business schools have largely neglected to subject the phenomenon to sufficient critique. This is, in part, because far too many management educators rely on orthodox economic perspectives—often represented by neoliberal capitalism—which have dominated the curricula and the teaching philosophy of business schools. To address this issue, this article underscores the need for business schools to critically examine the relationship between neoliberal capitalism and economic inequalities, and to overtly engage with this nexus in pedagogical practice. The article concludes by revisiting the concepts of relationality and answerability as paths by which to address the current predicament. Relationality and answerability collectively offer: i) conceptual and reflexive tools by which to re-imagine business school education, and, ii) space for business schools to debate important questions about the taken-for-granted, but problematic, assumptions underlying the ideology of neoliberal capitalism

Simon Beech and another man were jailed in 2011 for trying to blow up a mosque in Stoke-on-Trent.

British Vogue's editor says skinny models are back "in", partly fuelled by weight loss drug Ozempic.

US Cartridge 9mm 147 Grain JHP LE Contract Overrun ammunition, 200 rounds for $67.44 or $0.34 each with a coupon code. There is FREE shipping for orders over $149.

For advocates of universal gun rights, this debate represents a fundamental question about the nature of the Second Amendment: is it an American right or a human right?

Trump, should immediately remove Dettelbach from office, fire every ATF employee and disband the entire rouge department. @ATFHQ

President-Elect Donald Trump reaffirmed his commitment to protecting the Second Amendment by announcing his push for national concealed carry reciprocity.

In our civilization, any application of lethal force upon another human being is a fantastically high-stakes affair! Even if it saves your life!

Federal District Judge Stephen P. McGlynn has ordered a permanent injunction against enforcement of the Illinois "assault weapon" and magazine ban on November 8, 2024. The order will probably be appealed to the Seventh Circuit.

MALAYSIAN consumer associations have been around since the 1960s. However, today we have few that are active and serve consumer interest.

They should continue to fight for consumer rights nationwide and address issues that require better consumer education, stronger laws and enhanced regulatory frameworks, especially in commerce.

Many of these associations face several challenges when it comes to consumer protection, despite existing legal frameworks such as the Consumer Protection Act 1999. The main issues stem from a combination of factors, including:

Limited awareness: Many consumers are not fully aware of their rights under consumer protection laws. This lack of awareness leads to consumers not filing complaints or pursuing justice when their rights are violated.

Weak enforcement: While there are laws in place, the enforcement of these laws can be inconsistent. Regulatory agencies sometimes lack the resources or the will to take effective action against businesses that violate consumer rights.

Online transactions: With the rise of e-commerce, there have been increasing complaints about fraud, counterfeit goods and scams. Consumer protection laws are still catching up to fully address issues arising from online transactions, leaving many consumers vulnerable.

Delayed resolutions: Consumers often face long wait-times when filing complaints or seeking compensation. Dispute resolution mechanisms can be slow, which discourages consumers from pursuing complaints.

Misleading advertisements: There have been cases of misleading or false advertising where consumers end up buying products or services that do not meet expectations. The penalties for businesses engaging in such practices are not always strong enough to act as a deterrent.

Price gouging: In certain industries, especially during times of crisis, for example, the Covid-19 pandemic, price gouging can be a significant issue, with some businesses exploiting consumers by drastically raising prices on essential goods.

The government also has a duty to see that consumer associations function as they should and continue to stay active, and that they are fully supported.

Consumers should take action to defend their rights and ensure they are not violated while pursuing consumer protection.

Bulbir is a former president of the Negeri Sembilan Consumers Association. Comments: letters@thesundaily.com

WE have all experienced it – engaging in a discussion where new information or an opposing viewpoint makes us feel like doubling down on our beliefs rather than reconsidering them. This phenomenon, known as the backfire effect, occurs when people react
to contradictory information by holding more firmly to their existing beliefs.

The backfire effect can create a barrier to constructive dialogue, fostering defensiveness and preventing us from learning, evolving and understanding each other. With complex social issues on the rise, understanding the backfire effect and learning how to counteract it is essential to creating productive and respectful conversations.

The backfire effect is most common in debates involving personal values or issues closely tied to identity, such as opinions on social, environmental or political matters.

For example, in Malaysia, discussions on humane stray management or environmental policy can often spark passionate debates where each side becomes more rooted in their stance.

Recognising when the backfire effect is influencing a conversation can help us redirect it, moving from argument to dialogue and creating spaces for understanding and potential solutions.

At its core, the backfire effect is rooted in psychological defensiveness. When people’s beliefs are challenged, particularly on issues they are deeply invested in, it can feel like a threat to their sense of self.

Psychologists suggest that this is because we tend to intertwine certain beliefs with our identity, making it difficult to separate disagreement with an idea from a personal attack. This effect is more pronounced when discussing issues tied to social identity, politics or moral values.

Additionally, the fear of admitting error can make us cling to our views. If we have championed a particular idea or belief, admitting that we may have been mistaken can be uncomfortable. The backfire effect is a subconscious way of defending against this discomfort by rejecting new information and doubling down on previous beliefs.

Techniques for engaging in constructive debates

Understanding the backfire effect is the first step towards overcoming it, but real progress requires adopting strategies that can help us and others engage in more open, constructive discussions.

Here are several techniques to help foster productive dialogue,
reduce defensiveness and encourage open-mindedness:

Lead with curiosity, not conviction

Entering a conversation with a desire to understand rather than persuade is essential. Leading with curiosity helps set a collaborative tone, showing others that you are genuinely interested in their perspective.

For example, if someone disagrees with humane stray management practices like trap-neuter-release (TNR), you may start by saying, “I’m interested in your view – what experiences shape your opinion on this?”

This approach can disarm defensiveness and invite the person to share their experiences, making them more likely to reciprocate by considering your perspective.

Share stories, not just statistics

Facts and figures are essential but they often fail to connect emotionally. To counter the backfire effect, try sharing personal stories or experiences instead of relying solely on statistics.

For instance, in conversations about environmental policy, instead of only quoting data about pollution or deforestation, share a personal story about how environmental changes have affected your community or family. Stories humanise issues, making it easier for others to empathise and consider different viewpoints.

Emphasise shared goals and values

Even when opinions differ, finding common ground can help make the conversation more collaborative. For instance, both sides of a debate on environmental policies may share the same goal – a cleaner environment and a better quality of life – but disagree on how to achieve it.

By highlighting these shared values, you shift the conversation from an “us vs them” dynamics to a joint problem-solving approach. Statements like “we both want what is best for future generations; we just have different ideas about how to get there” can help bridge divides and reduce defensiveness.

Introduce new information gradually

Presenting too much information at once can make people feel overwhelmed, triggering a defensive response. Instead, offer new ideas or evidence in small, manageable pieces.

For example, if discussing environmental laws, introduce one or two key points rather than a long list of statistics. Gradual information- sharing allows individuals to process new perspectives without feeling pressured to accept them immediately, which can reduce the likelihood of the backfire effect.

Reframe disagreements as learning opportunities

Changing the way you frame a discussion can help mitigate defensiveness. Rather than seeing a debate as a “battle” to be won, approach it as a chance to learn.

This mindset shift encourages openness and reduces the need for defensiveness. When someone feels that a discussion is about sharing knowledge rather than proving a point, they are more likely to listen and engage constructively.

Know when to step back

Not every debate will lead to agreement, and that is okay. If a discussion becomes heated or begins to feel unproductive, it may be time to disengage respectfully.

Try phrases like, “I appreciate hearing your perspective, and I think we may have to agree to disagree for now. Thanks for sharing your thoughts.”

This approach allows both parties to leave
the conversation without feeling pressured, preserving the relationship for future discussions.

In Malaysia, topics like stray animal management and environmental policies are prime examples of where the backfire effect
often arises.

On one side, many advocate for humane and sustainable stray management practices, such as TNR, which can reduce stray populations over time. Others, however, may believe in stricter measures, fearing that strays could pose health or safety risks.

In such debates, the backfire effect can quickly escalate, with both sides becoming more entrenched as they try to defend their views.

To move forward constructively, a focus on shared goals – like safer communities and reduced stray populations – can shift the conversation from debate to dialogue.

In Malaysia, environmental policies are at a crossroads, often sparking strong opinions due to their impact across different economic levels.

Stricter policies aimed at protecting natural resources are crucial, yet they also raise concerns about their potential economic burden on lower-income communities, who may rely heavily on resource-based jobs.

Balancing the urgent need for environmental protection with the livelihoods of these communities is complex but essential.

A sustainable path forward lies in building
a common ground around shared values – a commitment to a clean, healthy environment alongside economic stability for all. This inclusive approach can help foster productive dialogue and more resilient, equitable policies.

Ultimately, overcoming the backfire effect requires us to approach conversations with empathy, open-mindedness and a willingness to understand where others are coming from.

Constructive debates are less about changing someone’s mind on the spot and more about creating a space where learning and growth are possible.

By leading with curiosity, sharing personal stories and finding common ground, we
can transform difficult conversations into opportunities for connection and progress.

Dr Praveena is a certified
mental health and awareness practitioner specialising in narcissistic abuse recovery.
Comments: letters@thesundaily.com

DONALD Trump’s victory in the 2024 US presidential election has raised global concerns about how his economic policies may impact countries like Malaysia.

With an “America First” approach focused on protecting domestic interests, the Trump administration is expected to reshape international trade, shift investment flows and influence geopolitical relationships.

For Malaysia, this outcome presents not only challenges but also opportunities in key economic sectors, including trade, foreign investment and commodities.

Trump is anticipated to continue protectionist policies that prioritise US jobs and domestic production. His proposal to impose a 10% import tariff on all goods entering the US aims to reduce reliance on foreign products and bolster domestic manufacturing.

Additionally, Trump’s plan to impose tariffs as high as 60% on Chinese products could have significant implications for Malaysia, one of the major exporters of electronic products and components to the US. If high tariffs are applied to Chinese goods, Malaysian products incorporating Chinese components could also be impacted, potentially diminishing US demand for Malaysian exports.

While this situation presents risks, it also provides opportunities as companies diversify supply chains away from China. Malaysia benefitted from the “China+1” strategy during Trump’s first term, as exports to the US increased amid US-China trade tensions.

Malaysia’s semiconductor industry, a focus of large investments from multinational companies such as Intel and Infineon, may continue to attract interest as a stable manufacturing base.

Currently, Malaysia holds around 13% of the global market in chip packaging and testing, making it a favourable location for companies seeking to expand operations outside of China. These conditions indicate Malaysia’s potential to further establish itself as a manufacturing hub if it can maintain political stability and investor-friendly economic policies.

The energy sector is also likely to be affected. Trump’s pro-oil stance could lead to increased US production and exports of fossil fuels. Should global oil prices rise, Malaysia, as an oil exporter, stands to benefit from higher national revenue.

However, rising oil prices also carry inflationary risks, as increased energy costs could drive up production costs and consumer prices domestically. While the energy sector may gain, higher energy costs could pressure consumer purchasing power and escalate operational costs for local industries.

To maximise these potential gains, Malaysia will need to balance these impacts on the consumer sector and ensure monetary policies support price stability.

The Malaysian commodity sector, particularly palm oil, faces potential challenges as well. During Trump’s first term, the US imposed import restrictions on Malaysian palm oil companies such as FGV Holdings and Sime Darby Plantation over allegations of forced labour. These restrictions affected Malaysian palm oil exports to the US, reducing revenue and harming the country’s image as a responsible producer.

Should similar policies persist, Malaysia will need to strengthen sustainable labour practices and meet international standards to retain access to global markets and protect its reputation as an ethical producer.

Trump’s policies could bring added uncertainty to Malaysia’s capital markets and the ringgit’s value. With US interest rates currently at 4.75%-5.00%, any influence Trump may exert on the Federal Reserve to raise rates could lead global investors to favour US assets, potentially causing capital outflows from Malaysia.

In 2023, Malaysia saw a 6.8% decline in foreign equity inflows, and the ringgit depreciated by around 8% against the US dollar. This shift reduces liquidity in local capital markets, and foreign investors may approach Malaysian equities with greater caution, especially if Trump’s policies introduce additional tariffs or trade restrictions.

As demand for the US dollar rises, the ringgit may face continued downward pressure. A weaker ringgit could increase import costs, particularly in vital sectors like food and technology, compounding domestic inflationary pressures, which currently stand at 2.8%.

To address these challenges, Malaysia needs a strong risk management strategy to maintain market stability and support the ringgit amid growing uncertainties.

In addition, Trump’s protectionist stance may directly impact Foreign Direct Investment (FDI) into Malaysia. As a manufacturing hub in Southeast Asia, Malaysia could see reduced FDI if the US pursues an aggressive stance on countries with significant trade surpluses.

Trump’s emphasis on protecting US jobs and domestic economic interests may lead to decreased investment from US companies in Malaysia.

Concurrently, prolonged US-China trade tensions could make investors more cautious about Malaysia, which may be perceived as politically and economically vulnerable. Any decline in FDI could affect job creation, technology growth and Malaysia’s long-term economic stability.

Furthermore, Trump’s victory raises concerns about the future of the US-led Indo-Pacific Economic Framework (Ipef). Trump has previously expressed a desire to withdraw from trade agreements like Ipef, which he sees as “another TPP”. If this happens, Malaysia may face challenges in maintaining market access and regional economic integration.

To prepare, Malaysia must diversify its trade partnerships, strengthen local industries and foster growth in resilient sectors. Malaysia’s involvement in Ipef reflects its commitment to regional economic integration, which could help mitigate the negative effects of US protectionist policies.

In summary, Trump’s victory could have significant implications for Malaysia’s economy. Protectionist policies and prolonged trade tensions could disrupt global supply chains, increase market uncertainty and challenge Malaysia’s economic growth.

Malaysia must be prepared with sustainable and adaptable strategies to tackle these challenges while capitalising on emerging opportunities to maintain economic resilience amid an increasingly complex global landscape.

The writer is a researcher and Islamic Finance consultant.
Comments: letters@thesundaily.com

TAIPEI: A state-funded English-language broadcaster in Taiwan removed a video of one of its journalists calling US President-elect Donald Trump a “convicted felon”, after the Taipei government said the incident was “very serious”.

Taiwan has publicly congratulated Trump on his victory, joining other governments around the world in trying to get onside with the next US administration.

Washington has long been Taipei’s most important supporter, but Trump raised concerns on the campaign trail by suggesting Taiwan should pay the United States for its defence and accusing it of stealing the US semiconductor industry.

TaiwanPlus correspondent Louise Watt was speaking on camera in the United States last week when she said “the US is either going to vote in its first female president or its first convicted felon”.

“Well America looks like it’s chosen the felon,“ Watt said, in a clip shared by Taiwanese broadcaster TVBS and seen by AFP.

Taiwan Culture Minister Li Yuan told local media on Saturday that TaiwanPlus took down the video after he told the broadcaster “that this issue is very serious”.

Public Television Service Foundation, which manages TaiwanPlus, said Monday the broadcaster had “humbly reviewed its operational procedures” following the report.

The foundation said it will convene a “self-discipline” committee this week to “discuss the matter”.

TaiwanPlus broadcasts videos on its website, YouTube and cable television.

More than 90 percent of its viewers are overseas, the foundation said.

In 2023, TaiwanPlus began showing in US hotels in “key cities frequented by political and economic elites, such as Washington, D.C., New York, Los Angeles, and Seattle”, the foundation said.

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MOSCOW: Former Russian President Dmitry Medvedev accused European leaders on Tuesday of seeking to dangerously escalate the Ukraine conflict following the re-election of former U.S. President Donald Trump.

Medvedev, a senior security official, wrote on Telegram that European politicians were aiming to “push the conflict with Russia into an irreversible phase” while they could and warned against allowing Kyiv to use Western long-range missiles to fire at targets inside Russia.

Medvedev dismissed what he called “ultimatums” issued by German opposition leader and possible next chancellor Friedrich Merz about Ukraine’s use of such weapons as “electioneering in nature”.

“It is clear that these missiles are not capable of changing anything significantly in the course of military operations”, he said.

French President Emmanuel Macron and British Prime Minister Keir Starmer reaffirmed their support for Kyiv during talks in Paris on Monday, while France’s foreign minister urged Ukraine’s allies not to prejudge how Trump will handle the conflict.

“Generally speaking, it is surprising to what extent the current generation of European politicians wants to drag the war into their territory”, Medvedev said.

Medvedev previously said that Trump’s win would likely be bad news for Ukraine. Trump, a Republican, has repeatedly criticised the scale of Western aid to Kyiv and has promised to end the conflict swiftly, without explaining how.

The Kremlin dismissed on Monday reports that Trump had spoken to Russian President Vladimir Putin in recent days as “pure fiction.”

BERLIN: German Chancellor Olaf Scholz will hold a vote of confidence in parliament on Dec. 16, a source told Reuters on Tuesday, a move that would pave the way for snap elections following the collapse of his three-way governing coalition.

More to follow

WASHINGTON: A federal jury on Tuesday ordered a US defense contractor to pay $42 million in damages to three Iraqi men who were tortured at Abu Ghraib prison, their lawyers said.

CACI Premier Technology Inc was found liable at the conclusion of a long-running trial for its role in the torture of the three men at the notorious prison in 2003 and 2004, the Center for Constitutional Rights said.

Suhail Al Shimari, a middle school principal, Asa’ad Zuba’e, a fruit vendor, and Salah Al-Ejaili, a journalist, were each awarded $14 million in damages, the center said in a statement.

The three men filed suit against CACI, a private company based in Arlington, Virginia, in 2008.

Abu Ghraib prison, west of Baghdad, became a potent negative symbol of the US occupation of Iraq after evidence emerged of detainee abuse by American soldiers at the facility.

Most of the abuse took place at the end of 2003, when CACI employees were working in the prison, according to the suit.

The company’s civilian employees were accused of having encouraged US soldiers to abuse the prisoners to prepare them for interrogation.

Criminal charges were brought against 11 low-ranking guards, including former army reserve specialist Lynndie England, who was shown smiling in photographs while posing next to naked prisoners.

The case against CACI was brought under a section of the US Code called the Alien Tort Statute, which allows non-US citizens to file suit in US courts for human rights violations for incidents that took place outside the United States.

CACI claimed that most of the alleged abuse was approved by the then-US defense secretary, Donald Rumsfeld, and incorporated into rules of engagement by military commanders at the prison.

“Today is a big day for me and for justice,“ Al-Ejaili said in a statement.

“This victory is a shining light for everyone who has been oppressed and a strong warning to any company or contractor practicing different forms of torture and abuse.”

Katherine Gallagher, an attorney at the Center for Constitutional Rights, welcomed the jury’s verdict saying it “makes clear CACI’s role in this shameful part of our history.”

“Private military and security contractors are put on notice that they can and will be held accountable when they breach the most fundamental international law protections -- like the prohibition against torture,“ Gallagher said.

“For 20 years, CACI has refused to take responsibility for its role in torture at Abu Ghraib.”

BRUSSELS: US top diplomat Antony Blinken warned Wednesday that the deployment of North Korean troops alongside Russian forces fighting on the Ukrainian border demanded a “firm response”.

The secretary of state was speaking at the start of a day of Brussels talks with NATO and EU officials to urgently address ramping up support for Kyiv before Donald Trump reclaims the White House -- potentially jeopardising future aid.

Addressing reporters alongside NATO chief Mark Rutte, Blinken said they had discussed the fact North Korean forces have been “injected into the battle, and now, quite literally, in combat which demands and will get a firm response.”

The US State Department confirmed Tuesday that Pyongyang’s troops -- whose entry into the conflict marks a potentially major escalation -- have begun “engaging in combat operations” alongside Russian forces near the border with Ukraine.

A spokesman said that of the more than 10,000 North Korean soldiers sent to eastern Russia, “most of them have moved to the far western Kursk Oblast, where they have begun engaging in combat operations with Russian forces”.

Rutte meanwhile stressed the crucial role played by China in helping Russia’s “war effort”, as well as Iranian weapons deliveries -- paid for with Russian funds that were in turn helping Tehran to “destabilize the Middle East”.

Blinken was taking part in a meeting of the North Atlantic Council, NATO’s decision-making body, before talks with European Union top diplomat Josep Borrell, his successor Kaja Kallas and Ukraine’s Foreign Minister Andriy Sybiga.

His emergency trip comes as Trump’s election victory, coupled with a political crisis in Germany, heightens fears about the future of assistance for Ukraine at a key point in the fight against Russia’s invasion.

Trump has in the past voiced admiration for Russian President Vladimir Putin and scoffed at the $175 billion the United States committed for Ukraine since the start of the war in 2022.

The 78-year-old tycoon, who will be inaugurated on January 20, spoke with Ukrainian President Volodymyr Zelensky after winning re-election following a first stint as president between 2017 and 2021.

He has boasted he can end the war in a day, likely by forcing concessions from Ukraine, although his newly named national security advisor, Mike Waltz, said Trump may also pressure Putin.

The Washington Post reported the Republican leader also held a phone call with Putin and discouraged an escalation by Russia. The Kremlin denied the report.

US media reported Trump might pick Republican Senator Marco Rubio to replace Blinken as secretary of state.

Rubio is seen as supportive of Kyiv but has also said Washington should show “pragmatism” rather than sending billions of dollars more in weapons as the war hit a “stalemate”.

‘As long as it takes’

The Biden administration has made clear it plans in its remaining weeks to push through the more than $9 billion of remaining funding appropriated by Congress for weapons and other security assistance to Ukraine.

Mark Cancian, senior advisor at the Center for Strategic and International Studies, expected the United States to focus in particular on sending vehicles, medical supplies and small-arms ammunition, which Ukraine needs and the United States can provide.

“Between now and the end of the administration, they’re going to try to ship everything they can that’s available,“ Cancian said.

Despite Kyiv’s pleas it seems unlikely, however, that Washington will lift its veto on Ukraine’s use of long-range missiles to strike deep into Russian territory.

Trump in his first term aggressively pushed Europe to step up defence spending and questioned the fairness of the NATO transatlantic alliance -- robustly defended by Biden.

“Whatever approach the US leadership takes towards Ukraine, Europe will have to step up, and we will have to take the lead in supporting Ukraine’s defence efforts and macro financial stability,“ said Olena Prokopenko of the German Marshall Fund of the United States.

“Unfortunately, Donald Trump’s win comes at arguably the worst possible time in terms of Europe’s political and economic shape and its ability to promptly coordinate”.

KOTA BHARU: Police have confirmed that the whistleblower who sent an open letter to the Yang di-Pertuan Agong regarding allegations of corruption in Sabah has received death threats.

Inspector-General of Police Tan Sri Razarudin Husain said the case is being investigated by the Bukit Aman Classified Crime Investigation Unit under Section 507 of the Penal Code, which addresses criminal intimidation through anonymous communication.

The 36-year-old male informant received a threatening call via WhatsApp from an unknown number.

“During the call, the suspect, believed to be a local man, threatened the informant in Mandarin, claiming to be from a hitman group and demanding the informant stay silent.

“The suspect warned that if the informant did not comply, he would be killed within 24 hours and called it a final warning,” Razarudin told Bernama today.

Razarudin said the suspect also sent two images, one of a pistol with ammunition and another showing a person shot in the street.

The informant expressed deep fear for his own safety and that of his family, he said.

“After receiving the WhatsApp message, the informant reported the incident and blocked the number. Since then, no further threats have been made,” Razarudin said, adding that the informant initially suspected that the phone number might belong to a scammer or was dialed incorrectly.

He said further checks revealed that the phone number was no longer in service and had no registered owner.

Razarudin added no other reports had been filed regarding this number, and the investigation returned no relevant records.

KUALA LUMPUR: Tun Daim Zainuddin’s passing has not only drawn condolences from federal leaders but also from state leaders who expressed their heartfelt sympathies to his family.

Among those offering their condolences were the Perak Menteri Besar Datuk Seri Saarani Mohamad, Perlis Menteri Besar Mohd Shukri Ramli, Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar and Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor.

In posts shared on their respective Facebook pages, they prayed for Daim, who served as Finance Minister from 1984 to 1991 and again from 1999 to 2001, to be placed among the righteous.

Also offering condolences was Kelantan Deputy Menteri Besar Datuk Dr Mohamed Fadzli Hassan, who referred to the passing of the former minister as a significant loss due to his many contributions to the nation.

“On behalf of the state, we extend our deepest condolences to the family of Tun Daim. We have lost a figure who made remarkable contributions to the country,” he told reporters in Kota Bahru today.

PAS president Tan Sri Abdul Hadi Awang also expressed condolences on Facebook, praying that Daim’s soul will be blessed with mercy and divine grace from Allah SWT.

Daim, whose full name is Che Abdul Daim Zainuddin, 86, passed away at 8.21 am today at Assunta Hospital in Petaling Jaya, where he was receiving treatment.

KUALA LUMPUR: The late Tun Daim Zainuddin made numerous contributions to the country, especially during the financial crisis in the 1980s, Communications Minister Fahmi Fadzil said.

He said as Finance Minister at the time, Daim successfully steered Malaysia back onto a stable economic path.

“At that time, I was still young and unaware of politics, but we cannot deny that during the 1980s and the ‘Asian Financial Crisis’, the late Daim, as Finance Minister, played a vital role in helping the government and his efforts contributed to Malaysia’s recovery,” he said after performing the funeral prayers for Daim at the Federal Territory Mosque here today.

Daim served as Finance Minister from 1984 to 1991, and again from 1999 to 2001.

Fahmi, who is also Lembah Pantai MP, expressed his gratitude to Daim, recalling how he had come forward to offer support during his campaign in the 14th General Election in 2018.

Meanwhile, former Prime Minister Datuk Seri Ismail Sabri Yaakob expressed his condolences to Daim’s family, acknowledging the loss of a significant figure who had made numerous contributions to the country.

“The loss is not only felt by his family and friends but by the nation. We pray that his soul is blessed and placed among the righteous,” said the Bera MP.

Earlier, the vehicle carrying Daim’s remains arrived at the Federal Territory Mosque at 3.43 pm for the funeral prayers before being taken to the Raudhatul Sakinah Cemetery at Bukit Kiara 1 at 4.48 pm for burial.

Also present were former Prime Minister Tan Sri Muhyiddin Yassin, Opposition Leader and Larut MP Datuk Seri Hamzah Zainuddin and former Kedah Menteri Besar Datuk Seri Mukhriz Mahathir.

Daim, whose full name is Che Abdul Daim Zainuddin, 86, passed away at 8.21 am today at Assunta Hospital in Petaling Jaya, where he was receiving treatment.

KUALA LUMPUR: Sabah-based infrastructure construction player Azam Jaya Bhd (AJB) aims to bid for more projects by capitalising on the state’s substantial growth in the construction industry, especially in regions where infrastructure development is much needed.

Executive director Datuk Jessica Lo Vun Che said the company plans to enhance its construction capabilities, strengthening its capacity to take on larger projects as part of its long-term strategies.

“We are committed to raising construction standards in Sabah to meet the region’s growing infrastructure demands.

“We are particularly encouraged by the federal government’s commitment to advancing development in Sabah, notably through the Budget 2025 allocations, in which Sabah received the highest development funding among the states.

“Azam Jaya welcomes the recent allocation of RM10 billion under Budget 2025 to complete the Sabah portion of the Pan-Borneo Highway, alongside the additional RM6.7 billion for development in Sabah,“ she said at the company listing on the main market of Bursa Malaysia yesterday.

This robust debut follows an IPO oversubscription of 23.00 times, reflecting strong confidence in Azam Jaya’s business operations and growth potential.

At the opening bell, Azam Jaya’s share price debuted at RM1.00, representing a premium of 28.21% over the issue price of RM0.78, with an opening volume of 5,126,000 shares.

The rose as much as 48.72% to touch its intra-day high of RM1.16 and closed at RM1.09.

“With the proceeds from our IPO totalling RM61.5 million, we are poised to accelerate our growth strategies in exciting ways.

“We are committed to enhancing our construction capabilities by expanding our fleet of machinery and equipment, ensuring we have the tools necessary to meet the demands of our expanding projects,“ Lo said.

Azam Jaya specialises in constructing large-scale road infrastructure in Sabah, including roads, highways, bridges, flyovers, and tunnels.

With over 30 years of experience in the industry, the group has a proven track record, having completed over 50 construction projects in the region.

“The listing of Azam Jaya is a testament to over 30 years of industry expertise navigating the complexities of road construction in Sabah.

“With fresh capital, we are well-positioned to accelerate our growth and seize new opportunities,“ Lo said.

On the financial front, Azam Jaya’s revenue grew from RM231.5 million in the financial year ended December 31, 2021 (FY21) to RM280.8 million in FY23, representing a 2-year compound annual growth rate (CAGR) of 10.1%.

Regarding dividend policy, Azam Jaya aims to distribute at least 30% of its net profit to shareholders.

From the proceeds raised, RM8.0 million (13.0%) will be allocated to boost construction capabilities and operational efficiencies by acquiring new machinery, equipment, and technological upgrades.

RM28.4 million (46.2%) has been set aside for working capital purposes, RM20.0 million (32.5%) is earmarked for repayment of bank borrowings, and RM5.1 million (8.2%) will be used to defray listing expenses.

Inter-Pacific Securities Sdn Bhd is the principal adviser, sole underwriter and sole placement agent for the IPO exercise.

KUALA LUMPUR: Integrated palm oil milling services provider Ecoscience International Bhd (EIB), via its wholly-owned subsidiary Ecoscience Manufacturing & Engineering Sdn Bhd, has accepted a letter of award (LoA) for a RM200 million engineering, procurement, and construction (EPC) contract from renewable energy company, Wilhelmina Energy Malaysia Sdn Bhd (WEMSB).

Under the LOA, EIB will provide comprehensive EPC services for the TG2 black pellet plant in Kuantan, Pahang.

These services will include design and engineering, sourcing and quality assurance of equipment and materials, plant infrastructure construction, and testing and start-up activities to support commissioning and ensure operational standards are met.

The specific terms and conditions of the EPC works will be outlined in a binding EPC agreement, which is expected by November 30, 2024.

The LoA was built upon the collaboration agreement (CA) with WEMSB in March 2024, aimed at transforming agricultural waste into sustainable energy, thereby reducing coal consumption and carbon emissions.

EIB managing director Wong Choi Ong expressed confidence in delivering a robust waste-to-energy solution that aligns with WEMSB’s vision for sustainable energy transformation.

“This project is a strategic fit for our expansion into environmental and energy efficiency sectors, building on our core strengths in constructing palm oil mills, supporting facilities, and equipment fabrication.

“As the largest project to be undertaken in our corporate history, we see this as a valuable opportunity to broaden our customer base, enhance our project portfolio, and strengthen our market position.

“The LoA will significantly boost our order book, providing our group with healthy earnings visibility over the next two years,“ he said.

The TG2 black pellet plant will convert oil palm empty fruit bunch (EFB) waste into TG2 black pellets – a drop-in coal replacement fuel.

TG2 black pellets are an advanced type of biofuel pellet, providing benefits over traditional biomass pellets, including enhanced grindability, water resistance, and higher energy density.

As a drop-in fuel, it is renewable and can be used in existing pulverised coal power plants without requiring significant infrastructure modifications.

EIB will continue supporting WEMSB as it expands TG2 black pellet plants across the region.

“Beyond the EPC scope for the TG2 black pellet plant, the CA signed in March 2024 also outlined the possibility of WEMSB outsourcing the plant’s operation and maintenance (O&M) to EIB.

“We are currently exploring this opportunity, and both parties will decide in due course.

“This potential arrangement, if materialise, would create a new, recurring revenue stream for us, complementing our current project-based work,“ Wong added.

WEMSB is a subsidiary of the Netherlands-based renewable energy company Maatschappij Wilhelmina NV, specialising in converting agricultural waste streams into sustainable energy using TG2 black pellets.

The EPC works are expected to commence by December 2024, with an expected project completion timeline of 24 months from the commencement date.

KUALA LUMPUR: Bursa Malaysia Bhd is experiencing a resurgence in IPOs as 2024 draws to a close, reflecting renewed investor confidence in the local bourse.

With 44 initial public offerings to date, Bursa Malaysia has outpaced other markets in Southeast Asia, emerging as an attractive IPO destination amid a stable economic and political landscape.

According to Mohd Sedek Jantan, UOB Kay Hian Wealth Advisors’ head of investment research, several factors have contributed to this surge. “The risk of doing business in the fourth quarter has subsided as major economic and political uncertainties have passed, such as the US presidential election while Malaysia’s active role in international forums has bolstered the country’s global standing,” he told Bernama.

He reckons that Malaysia’s stable economic indicators, including positive trade figures, healthy employment rates and steady industrial production have fostered a predictable business environment that encourages IPO activity. “Political stability and a clear government policy framework further enhance investor confidence,” he said.

The surge in IPOs on Bursa Malaysia underscores the local bourse’s resilience compared to other regional markets.

Mohd Sedek noted that Malaysia has recorded 36 IPOs so far this year, raising about US$450 million in the first half alone, which accounts for 33% of Southeast Asia’s total IPO proceeds.

“This stands in contrast to a subdued IPO market across the Asia-Pacific, where proceeds have dropped by 63%, largely due to challenges in China and Hong Kong.

“Malaysia has outperformed both Indonesia and Singapore in IPO activity this year,” he pointed out, highlighting that Indonesia faces political uncertainty following its recent presidential election, while Singapore has seen a slowdown in activity due to high regulatory costs and weak investor demand.

In contrast, he said Malaysia’s IPO market benefits from a stable macroeconomic backdrop, business-friendly regulations, and the supportive Madani Economy Framework.

Mohd Sedek said the growth in IPOs reflects optimism in key Malaysian sectors, with recent listings from the construction, manufacturing, and healthcare industries.

He said in the construction sector, which expanded by 22.9% in the third quarter, private and public investments in residential, non-residential, and large-scale infrastructure projects are expected to drive further growth. “Key government initiatives, such as RM9 billion for private finance initiatives and RM25.5 billion from government-linked investment companies are expected to sustain this momentum,” he added.

In the manufacturing sector, Malaysia’s transformation under the New Industrial Master Plan 2030 aims to drive growth in high-value, technology-driven industries. “The government’s focus on digitalisation, green technology, and advanced manufacturing techniques is expected to attract further investments, solidifying Malaysia’s position as a competitive manufacturing hub in Asean,” he said.

Malaysia’s healthcare sector is also expanding due to demographic shifts and rising health awareness. The integration of technology, such as telemedicine and digital health solutions, is anticipated to boost the sector’s growth by improving care accessibility and efficiency. “This trend, coupled with government support for medical tourism, positions Malaysia as a key player in the healthcare industry in the region,” Mohd Sedek said.

Bursa Malaysia CEO Datuk Muhamad Umar Swift expressed satisfaction with the IPO momentum, noting that three Main Market IPOs were listed this week alone.

“This surge reflects a thriving capital market with strong regulatory support and a diverse investor pool. Malaysia has experienced a bull run, making us the Asean exchange with the highest number of IPOs to date this year,” he said.

Echoing this sentiment, the exchange regulator’s chairman Tan Sri Abdul Wahid Omar highlighted the significance of Monday’s listings, which took place on the auspicious date of 11.11. (Nov 11)

“Both companies chose that date for its auspicious nature, marking a rare occasion of two listings on the same day. The last time Bursa hosted two listings on a single day was in November 2017, following the demerger of Sime Darby Group, which saw both Sime Darby Plantation Bhd and Sime Darby Property Bhd debut together,” he said.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the strong IPO pipeline signals positive prospects for the Malaysian economy, as stable policies and a clear path towards becoming a high-income nation attract investor interest.

“Malaysia’s equities are undervalued, offering upside potential. The economic and policy stability enhances investor confidence, while companies’ growth trajectories inspire optimism for the market’s future,” he said.

Mohd Afzanizam said that as Bursa Malaysia continues to attract IPOs, he expects the exchange’s momentum to inspire small and medium enterprises to pursue similar growth opportunities. “The record-setting IPO activity underscores Malaysia’s resilience and strong capital market position in Asean, providing a positive outlook for 2025,” he added. – Bernama

CONTINENTAL has launched its Mini Program on the TNG eWallet, allowing Malaysian drivers to purchase Continental tyres with ease through their mobile phones. This launch is celebrated with exclusive promotions from 7 November to 30 November, coinciding with the 11.11 Mega Sale. Customers can enjoy up to RM1 million in cashback, with an average of 15% per transaction.

Additionally, any customer spending a minimum of RM300 from 7 November 2024 to 31 January 2025 will be entered into a lucky draw, with one entry for each RM300 spent. The grand prize includes a gold bar worth RM10,000, with other prizes like three iPhone 16 Pros, two PS5 consoles, two Huawei MatePad 11.5” PaperMatte Editions, and two Trapo Vouchers. Weekly winners can also receive cashback, a Limited-Edition Continental x Touch ‘n Go NFC Card, and more.

Andrea Somorova, Managing Director of Continental Tyre Malaysia, shared that this partnership reinforces Continental’s commitment to digital innovation and customer convenience in Malaysia, expanding their reach through the TNG eWallet alongside existing platforms like Shopee and Lazada. Alan Ni, CEO of TNG Digital, echoed this sentiment, emphasizing the TNG eWallet’s role as a lifestyle app, which, with over 22 million verified users, now offers a streamlined, digital tyre purchase and installation experience.

The Mini Program simplifies tyre shopping by helping users find the right tyre pattern and size, apply promo codes, select dealers, and schedule installations at over 120 Continental outlets across Malaysia. Once payment is confirmed, customers can proceed to their selected dealer for free installation, with balancing and optional alignment services.

HYUNDAI’S recent acknowledgement of the challenges with touchscreens in vehicles highlights a growing trend that some are calling the “Tesla Effect.” Following in Tesla’s footsteps, many automakers have phased out traditional physical controls for digital interfaces on touchscreens, aiming to create sleek, tech-centric cabins. However, Hyundai has found that American buyers aren’t entirely on board with the touchscreen-only setup.

According to HDNA Vice President Ha Hak-soo, Hyundai’s experience with touchscreen-based controls revealed that drivers often feel frustrated when trying to quickly adjust settings on the go, especially when physical dials or buttons could have made adjustments more straightforward. Hyundai’s internal testing with focus groups found that drivers found it stressful to control certain functions on a touchscreen when needing immediate responsiveness.

Touchscreens undoubtedly allow designers more flexibility to achieve minimalist interiors and offer a greater range of functions than physical controls alone. But when it comes to real-world driving, bumping along a rough road can make it challenging to find and tap digital controls accurately. A simple adjustment that could once be handled by feel now demands more focus, taking the driver’s attention off the road.

In response, Hyundai has started reintroducing physical controls on some models, including the facelifted Ioniq 5. While Hyundai’s North American team believes driver attitudes might shift once advanced driver-assistance systems become more common, allowing drivers to focus less on the road, for now, it seems Hyundai is listening to the call for a balance between digital and physical controls.