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PETALING JAYA : Nestlé (Malaysia) Bhd has reported a positive start to the year, posting encouraging results for the first quarter ended 31 March 2025 (1Q25). The company recorded a turnover of RM1.77 billion during the quarter under review, maintaining the strong sales performance achieved in 1Q24 and marking a 20.1% increase compared to the fourth quarter of 2024 (4Q24). Nestlé Malaysia attributed the broad-based sales momentum to successful planning and execution of its Chinese New Year and Ramadhan/Hari Raya campaigns across its portfolio of brands. The company’s export business also registered growth, recording a 2.6% increase, driven by the competitiveness of its industrial infrastructure and its position as the largest halal manufacturing hub within the global Nestlé network. For 1Q25, Nestlé Malaysia reported a profit before tax of RM213 million and a profit after tax of RM161.3 million, more than tripling the profits achieved in the preceding quarter, reflecting the company’s steady progress towards profit normalisation following a challenging 2024. “This performance demonstrates our ability to navigate a complex operating environment, characterised by ongoing pressures on commodity prices,” the company stated. “Focused efficiency measures, cost optimisation initiatives, and sustained investments in brand equity have underpinned the solid results.” While the first-quarter profit remained strong, the company noted a moderate contraction compared to the high baseline set in 1Q24. This was attributed to an earlier phasing of marketing investments compared to the previous year, alongside a prudent pricing strategy aimed at cushioning consumers against surging commodity prices. Nestlé Malaysia’s Chief Executive Officer, Juan Aranols, said the first-quarter performance marked a significant step in the group’s journey towards restoring healthy growth levels and sustainable profitability. “Amid continued market volatility and intense competition, we are executing solid brand plans effectively across both online and offline channels,” he said. “Our campaigns during the Chinese New Year and Ramadhan/Hari Raya periods have delivered robust results across all business segments.” Looking ahead, Aranols emphasised that Nestlé Malaysia remains alert to the ongoing global market uncertainties that could impact business conditions. Nevertheless, the company remains committed to delivering high-quality, nutritious, and great-tasting halal products tailored to meet the diverse needs of Malaysians at every life stage. He further highlighted that automation and digitalisation are central to Nestlé Malaysia’s strategy, enabling greater agility in decision-making and operational efficiencies that fund continued investments in brand building and innovation. “This virtuous circle of profitable, sustainable growth is anchored firmly on a deep understanding of the evolving value expectations of Malaysian consumers,” Aranols said. Despite the challenging operating environment, Nestlé Malaysia is encouraged by signs of improving consumer sentiment. The group remains confident in its guidance of returning to healthy growth levels by the first half of 2025 and consolidating a sustainable, profitable growth trajectory. “We will continue investing in product innovation and in strengthening our capabilities across manufacturing, logistics, and commercial operations,” Aranols added. Celebrating its 113th year of presence in Malaysia, Nestlé remains committed to contributing positively to the nation’s development, while remaining vigilant to global geopolitical and market developments that could influence broader economic conditions. –The Star

KUALA LUMPUR: Fiuu, the leading fintech platform in Southeast Asia, has achieved two national records in the Malaysia Book of Records for its performance in 2024: the Highest Payment Gateway Sales Value and the Largest Payment Gateway Transactions in a year. Processing over RM 35.6 billion (US$ 7.9 billion) in total payment volume and surpassing 500 million online transactions within Malaysia, these milestones highlight Fiuu’s pivotal role in driving the digital economy in ASEAN. These achievements reflect Fiuu’s strategic investment in developing the “digital rails” that power cashless commerce and promote financial inclusion across Southeast Asia. The company focuses on creating scalable, interoperable, and secure systems that are accessible to underserved businesses and communities. “We are honoured by the trust placed in us by our partners, merchants, and institutions,” said Eng Sheng Guan, CEO of Fiuu. “This recognition highlights the importance of our infrastructure in enabling fast-growing economies to thrive and adapt. Our efforts are directed towards supporting today’s economy while laying the foundation for future growth.” Fiuu operates across eight key Asian markets, including Malaysia, Singapore, Thailand, Indonesia, the Philippines, Vietnam, Taiwan, and Hong Kong. It simplifies domestic and cross-border payments for over 70,000 merchants across sectors such as retail, logistics, healthcare, and government services. The platform integrates over 110 payment methods and has direct acquiring partnerships with Visa and Mastercard in Malaysia, Singapore, and the Philippines. In 2024, Fiuu processed over 1.8 million transactions daily and handled more than RM 44 billion (US$ 9.8 billion) in annual transaction volume across Southeast Asia. The company saw a 208% surge in Visa and Mastercard transactions, with projections for over 300% growth in 2025. Fiuu’s cloud-based infrastructure supports features such as Buy Now Pay Later (BNPL) and Visa Instalment Solutions, and the company continues to enhance its platform with features like tokenization, IoT payments, biometric authentication, and Apple Pay. Looking ahead, Fiuu is focused on advancing cross-border capabilities, improving fraud prevention with AI, and expanding its acquiring relationships across ASEAN markets. “As the digital economy grows, Fiuu will continue to build quietly but purposefully, ensuring businesses can move forward confidently,” Eng added.

Kevin Lee has been appointed the new Country Head and CEO of Curlec by Razorpay, the Malaysian payment solutions company owned by India-based Razorpay. Lee brings over 18 years of experience in the payments and fintech sectors to the role, following his recent departure from GHL Systems, where he had been CEO for nearly 16 years. Lee’s leadership experience spans across ASEAN, the Middle East, and Africa, where he played a key role in developing e-payment infrastructures. As Country Head, he will focus on expanding Curlec’s digital payment solutions for businesses in Malaysia, enhancing the Curlec Payment platform, and supporting financial inclusion initiatives. Shashank Kumar, Co-Founder & Managing Director of Razorpay India, expressed confidence in Lee’s ability to drive digital payment innovation, building on Curlec’s commitment to redefining how businesses and consumers interact with payments. Lee, in his new role, highlighted the potential for innovation in Malaysia’s digital payments landscape and expressed enthusiasm for collaborating with Curlec’s team to drive growth and accessibility for businesses of all sizes. This leadership change comes after Zac Liew stepped down as CEO earlier this month, marking the end of his seven-year tenure.–FINTECH NEWS

KUALA LUMPUR : Former prime minister Tun Dr Mahathir Mohamad has cautioned that the United States’ wide-ranging tariff measures are likely to backfire, inflicting greater harm on its own economy than on its trading partners. “We often focus on the impact these tariffs have on Malaysia and other trading partners. But the real question is, what happens to the United States?” Dr. Mahathir remarked. He further pointed out that these higher costs would likely lead to American workers demanding higher wages, which could erode their global competitiveness. “All goods in the U.S. will become more expensive, leading to higher living costs. Consequently, American workers will demand higher wages, eroding their competitiveness globally,” Dr. Mahathir explained. The former Prime Minister also highlighted the U.S.’s heavy reliance on global supply chains, particularly for critical components such as microchips, which are largely sourced from countries like South Korea, Taiwan, and Malaysia. Dr. Mahathir warned that the tariffs would increase production costs, making U.S. products less competitive on the world stage. Aviation Industry at Risk Dr. Mahathir cited the aviation sector as a prime example of how tariffs could harm the U.S. economy. He suggested that countries like Malaysia could shift their purchases from American-made Boeing aircraft to European Airbus jets in response to the higher costs caused by the tariffs. “For instance, if we choose to buy 30 Airbus planes instead of Boeing, and each Boeing aircraft costs nearly half a billion ringgit, that would translate into a significant loss for the U.S. economy,” he said. The broader aviation industry has already begun to feel the strain of tariffs, with Boeing facing rising costs and growing competition from Airbus, particularly in markets where U.S. products have historically held a dominant position. U.S. Economic Impact and Potential Reversal Dr. Mahathir also predicted that the U.S. would likely pause its tariff policy in the next few months, acknowledging that the tariffs were inflicting more damage on the U.S. economy than on its trade partners. He stated that this situation had become increasingly untenable for the U.S., as the negative consequences began to outweigh the intended benefits. Recently, the U.S. announced a 24% tariff on most Malaysian goods, along with a 10% tariff on imports from around 60 countries. However, these measures have been temporarily suspended for 90 days to facilitate further trade negotiations. Criticism of American Worldview In addition to his economic concerns, Dr. Mahathir also took aim at the American worldview. He suggested that many Americans, including the U.S. President, often perceive their country as “the world” and remain largely unaware of the complexities of global relations. This ignorance, according to Dr. Mahathir, is partly responsible for the U.S.’s frequent diplomatic conflicts with other nations. “Even the U.S. President seems unaware of the rest of the world. That’s why he ends up quarrelling with other countries,” Dr. Mahathir remarked. His comments came in the wake of a controversy involving conservative U.S. commentator Bill O’Reilly, who claimed that Malaysians could not afford to purchase Chinese products. Following a rebuttal by Malaysian Prime Minister Datuk Seri Anwar Ibrahim — in which Anwar described O’Reilly as a “colonialist” — O’Reilly stood by his comments, citing Malaysia’s per capita income of US$5,731, compared to the U.S. figure of US$42,220. Communications Minister Fahmi Fadzil, however, countered O’Reilly’s assertion, pointing to World Bank figures that show Malaysia’s GDP per capita at US$11,379 in 2023, or US$36,416 when adjusted for purchasing power parity. This firmly places Malaysia in the upper middle-income bracket, contrary to O’Reilly’s claims. Global Economic Disruption The debate surrounding U.S. tariffs and global trade dynamics has been a point of concern for economists. Many have warned that these tariffs could lead to higher consumer prices, not just in the U.S., but around the world. The cost of goods such as electronics, clothing, and food could rise, which would disproportionately affect lower-income households in the U.S. (americanprogress.org). Experts also point out that the U.S. economy’s reliance on international supply chains, especially in high-tech sectors like microchips, makes it vulnerable to disruptions caused by tariffs. Economists believe that increased production costs will negatively impact U.S. businesses’ ability to compete on the global stage, particularly in industries where innovation and efficiency are paramount (ismworld.org). As Dr. Mahathir suggested, the long-term impact of such trade policies may ultimately prompt the U.S. to reconsider its tariff strategy, especially as the negative economic effects become more apparent. –Free Malaysia Today