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KUALA LUMPUR:  Minister of Investment, Trade and Industry (MITI) Tengku Datuk Seri Zafrul Aziz will travel to Washington next week to engage with United States Trade Representative (USTR) Jamieson Greer and other US officials to discuss the reciprocal tariffs imposed on Malaysia and other ASEAN countries. The high-level meetings, scheduled for April 24, aim to convey Malaysia’s position on the ongoing tariff issue. “We will be meeting the USTR as well as other government officials from US President Donald Trump’s administration during my two-day visit,” Zafrul said during a recent media briefing. He stressed that the mission is not intended to initiate formal negotiations but to hold discussions on how Malaysia can contribute positively to the global supply chain, particularly in the semiconductor and electrical and electronics (E&E) sectors. “We need to go there to explain how Malaysia, as a neutral country, plays an important role in the semiconductor and E&E sectors. Our goal is to show that Malaysia can support industries in the US rather than posing a threat to them,” he added. Zafrul will be joined by MITI deputy secretary general (trade) Mastura Ahmad Mustafa, senior ministry officials, and representatives from Malaysia’s Embassy in Washington. The delegation also plans to meet with business chambers, companies, and industry groups to clarify Malaysia’s stance and address misconceptions. As the current chair of ASEAN, Zafrul will also take the opportunity to present the regional bloc’s unified position. “We believe in a rules-based global trading system and the principles of multilateralism,” he said, adding that ASEAN is not in favour of retaliatory actions and hopes to correct misperceptions around tariff issues. The visit comes amid heightened trade tensions, with ASEAN nations experiencing varying degrees of impact from the US-imposed tariffs. According to data from the recent special ASEAN Economic Ministers’ meeting, Cambodia, Laos, Vietnam, and Myanmar have been most affected, with combined tariffs reaching up to 49%. Malaysia and Brunei face a 24% rate, while Singapore sees a 10% baseline tariff. A 90-day pause on the reciprocal tariffs remains in effect for ASEAN countries, excluding China. ASEAN ministers, in a joint statement issued after their April 10 meeting, reaffirmed their commitment to constructive dialogue with the US while safeguarding the region’s economic interests.–BERNAMA

Malaysia Aviation Group Bhd (MAG) recorded a net profit of RM54 million for the financial year 2024, alongside an operating profit of RM113 million, despite facing significant operational challenges. The group reported a strong EBITDA of RM788 million, underscoring resilient performance amid headwinds such as supply chain disruptions that led to extended aircraft maintenance timelines and delays in new aircraft deliveries. These issues forced a reduction in capacity by 18% during the traditionally high-performing fourth quarter, ultimately weighing on full-year revenue, which slipped marginally by 1% year-on-year to RM13.68 billion. This came despite a 6% increase in available seat kilometre (ASK), reflecting improved efficiency. MAG Group Managing Director Datuk Captain Izham Ismail said the group remained profitable and forward-looking despite the disruptions. “We not only maintained profitability but ensured we were strategically positioned for the future while navigating operational challenges,” he said in a statement.

KUALA LUMPUR: HealthMetrics, Malaysia’s leading digital third-party administrator (TPA) and a regional healthtech pioneer, has officially launched its operations in Indonesia, marking a significant milestone in its Southeast Asian expansion strategy. The move follows the rebranding of Across Asia Assist Indonesia (AAA) to HealthMetrics Indonesia, a transition that integrates deep local market expertise with HealthMetrics’ cutting-edge digital capabilities. With the launch of HealthMetrics Indonesia, Malaysian healthcare providers stand to benefit from increased access to the regional market, reinforcing Malaysia’s position as a hub for cross-border medical services. The rebranding unites AAA’s decade-long experience in healthcare and insurance support—serving clients such as Allianz, AXA, and Tokio Marine—with HealthMetrics’ scalable digital infrastructure to deliver seamless, tech-enabled healthcare administration. Three Flagship Solutions Unveiled The announcement, made during HealthMetrics Spotlight 2025 in Jakarta, also included the unveiling of three flagship digital solutions: HealthMetrics Cloud Platform – a secure, ISO27001-certified system for insurers and corporates to manage policies and claims in real time. Global Member App – a user-friendly interface offering instant access to benefits, provider search, claims, and wellness features. International Assistance Hub – a cross-border care solution linking members to over 15,000 direct billing healthcare providers across the region. Dr. Madan Mohan Vasandani, CEO of HealthMetrics Indonesia, stated, “Our digital-first approach aligns with Southeast Asia’s broader vision for a connected healthcare ecosystem. The Indonesian market now benefits from the digital innovations pioneered in Malaysia, bringing smarter, faster, and more accessible care to all stakeholders.” A Strategic Boost for Malaysian Providers With over 7,000 Malaysian healthcare providers already in its network, HealthMetrics’ expansion is poised to drive inbound medical tourism and patient flows from Indonesia. Through the International Assistance Hub, Indonesian members can now access Malaysian healthcare providers more efficiently—with support for guarantee letters, claims processing, and post-care coordination. “This is a proud milestone for us as a homegrown Malaysian company,” said Alvin Yuan, Co-founder & Group CEO of HealthMetrics Group. “Our expansion into Indonesia not only unlocks new opportunities for local providers but also represents a unified commitment to building a truly borderless, digital healthcare ecosystem in Southeast Asia.” Driving Efficiency and Intelligence through Technology HealthMetrics’ Cloud Platform incorporates advanced features such as AI-driven claims management, fraud detection, cost containment tools, and real-time analytics—ensuring transparency, speed, and cost efficiency for insurers, corporates, and providers alike. The Global Member App further enhances the user experience by integrating multiple insurance policies and offering on-demand access to care and wellness services. According to Advent Phang, Co-founder & Group CTO, “We are focused not just on digitising healthcare administration, but on delivering intelligent solutions that provide measurable value and control for all involved in the healthcare journey.” Spotlight 2025: Catalysing Industry Collaboration Held in Jakarta, HealthMetrics Spotlight 2025 brought together over 100 key stakeholders from Indonesia’s healthcare, insurance, and corporate sectors to explore the future of digital health administration. The event underscored the need for collaborative, tech-driven approaches to improve healthcare accessibility and quality across the region. One of the event’s strategic partners, KPJ Healthcare Berhad, highlighted the potential of cross-border partnerships in elevating regional care standards and attracting international patients to Malaysian providers. A Growing Regional Footprint Since its founding in 2015, HealthMetrics has rapidly scaled across Malaysia, Singapore, and now Indonesia—serving over 100 insurers, 3,000 corporate clients, and 15,000 healthcare providers across Southeast Asia. The company is on track to surpass US$1 billion in cumulative medical treatments by the end of 2025. With its continued expansion, HealthMetrics invites more Malaysian healthcare providers and partners to join its digital ecosystem—driving innovation, improving access, and positioning Malaysia at the forefront of a connected regional healthcare future.

KUALA LUMPUR:  Bina Puri Holdings Bhd has announced significant changes in its boardroom, with the retirement of founder director Dr Tan Cheng Kiat and deputy executive chairman Tan Sri Tee Hock Seng. Cheng Kiat, 77, who founded the company in 1975, has served on the board since 1990 and holds a 2.38% equity interest in the group. Hock Seng, 76, also joined the board in 1990 and has had a long tenure with the company, holding a 3.05% direct and 5.55% indirect stake. Their retirement comes at a time when the company faces financial challenges, including a winding-up petition filed by Wisma Majujaya Sdn Bhd over an unpaid RM30 million court award. The High Court had previously granted a summary judgment in favour of Wisma Majujaya, seeking the company’s liquidation. In response to the changes, Bina Puri has also announced the redesignation of Chai Chan Tong, who has moved from group managing director and CEO to group managing director. Chai, who holds a 24.64% stake in the company, was appointed to the board in January 2023 and took on the role of CEO in October 2023. Additionally, Goh Kee Lun has been appointed as executive director and group chief financial officer. Goh, a major figure in the smart e-scooter space, will also lead the company’s financial strategies. Joining the board is Datuk Seri Mohd Kamarudin Md Din, a retired police commissioner, who has been appointed as an independent and non-executive director. Kamarudin, the former chief police officer of Johor, brings his extensive experience to the board. Bina Puri’s stock has been on the rise recently, climbing from a 52-week low of 26 sen to close at 34.5 sen on Wednesday, with the company now valued at RM275.05 million.

SHAH ALAM: A company manager has fallen victim to an online investment scam, losing RM2.65 million after being lured by a non-existent scheme advertised on Facebook. The 54-year-old man was initially attracted to an ad on the social media platform, which led him to a WhatsApp conversation with an individual claiming to be an investment instructor named “Wendy Lim.” Selangor police chief Datuk Hussein Omar Khan revealed that the victim was added to a WhatsApp group where he followed the scheme for two months. During this period, he received an initial return of RM100,000, which boosted his confidence and led him to transfer a total of RM2.65 million across 44 transactions to nine different bank accounts. These transfers were made after he was shown a purported profit of nearly RM8 million on the platform. However, when the victim attempted to withdraw the supposed profit, he was told to pay several tax fees to facilitate the process. Suspecting something was wrong, he eventually reported the matter to the police. In a separate case, a 69-year-old German national in Sepang lost over RM3 million in an online scam where the victim was deceived by individuals pretending to be from the Inland Revenue Board (IRB) and Bank Negara Malaysia (BNM). The scam involved instructions to open a bank account to receive a large sum of money, with demands for tax payments before the funds could be accessed. The victim made 25 transfers amounting to RM3.09 million before realising he had been defrauded. Police have launched investigations into both cases under Section 420 of the Penal Code, which deals with cheating and dishonesty.–BERNAMA

KUALA LUMPUR: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has flagged 2025 as a challenging year, citing global economic uncertainties and escalating geopolitical tensions, particularly from the ongoing trade war among major economies. Despite this, the bank remains optimistic about sustaining its growth trajectory through strategic diversification and tapping into new market segments. Bank Rakyat’s newly appointed CEO, Ahmad Shahril Mohd Shariff, explained that the bank is focused on expanding its lending activities to support household spending and exploring new market segments. The bank’s personal financing segment continues to be a major contributor to its earnings, but it is also looking to diversify into sectors such as water utility financing, logistics, and tax-related financing. These non-personal financing areas saw growth of 10.6% in FY2024, outpacing the overall market. The bank also plans to increase its focus on the mass affluent and non-Bumiputera markets, which it sees as having significant untapped potential. “We are not abandoning personal financing — it remains our bread and butter — but we are creating a bigger pie by also focusing on new engines of growth,” said Shahril. In line with its strong financial performance, Bank Rakyat announced a flat dividend payout of 17% for FY2024, maintaining the same payout ratio as the previous year. This translates to a total distribution of RM486.32 million, up from RM426.8 million in FY2023. Shahril attributed this stable dividend to the bank’s sustained profitability and robust financial resilience. For FY2024, Bank Rakyat reported a 3.15% year-on-year increase in profit before tax and zakat, reaching RM1.82 billion, up from RM1.76 billion in FY2023. This growth was driven by a continued focus on core business activities, improving asset quality, and a favourable domestic economic environment. The bank’s gross income rose slightly by 0.36%, in line with its five-year BR25 strategic plan. Additionally, deposits grew by 5.5% to RM10.75 billion, supported by efforts to grow savings and investment accounts. Chairman Datuk Mohd Irwan Mohd Mubarak highlighted the bank’s resilience, attributing its strong performance to prudent risk management, cost discipline, and targeted growth in consumer financing. The bank’s asset quality also improved, with the non-performing financing ratio declining to 1.93% from 2.02% in the previous year, and its cost-to-income ratio stood at 46.89%, below the industry average. Despite the anticipated challenges in 2025, Bank Rakyat is confident that its strategic initiatives, including digitalisation and focus on higher-income customer segments, will continue to drive its growth and financial resilience.