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JOHOR BAHRU: Boustead Petroleum Marketing Sdn Bhd (BHPetrol), a subsidiary of Boustead Holdings Bhd and the Armed Forces Fund Board (LTAT), is set to build 30 new petrol stations in rural areas across Malaysia as part of a nationwide expansion strategy. According to BHPetrol CEO Azizul Azily Ahmad, each station is expected to cost approximately RM3 million, with the rollout scheduled over the next five years. The initiative is aimed at enhancing fuel accessibility and ensuring that subsidised fuel reaches eligible groups, especially defence personnel stationed in remote areas. “As a subsidiary of LTAT, BHPetrol continues to move forward proactively, in line with the government’s commitment to equitable access to subsidised fuel,” Azizul said during the launch of the new BHPetrol Bandar Seri Alam station in Johor Bahru on Sunday. The new station was officiated by Defence Minister Datuk Seri Mohamed Khaled Nordin. Expansion Objectives: Widen rural coverage for subsidised fuel access. Support national defence personnel operating in hard-to-reach locations. Reduce reliance on bottled fuel in rural communities. Ensure legal and safe fuel distribution across underserved areas. With the addition of the Bandar Seri Alam station, BHPetrol now operates 82 stations in Johor, strengthening its network in one of the key southern states. “The opening of this latest station is a proud milestone that further strengthens our support network for delivering subsidised fuel to the people,” Azizul added. The expansion reflects BHPetrol’s continued alignment with government policies focused on fuel equity and infrastructure development in strategic areas.

KUALA LUMPUR: has inked a landmark 40-year power purchase agreement (PPA) through its 70%-owned unit Oriole Hydro Padas Sdn Bhd (OHP) with Sabah Electricity Sdn Bhd (SESB) for a 162MW run-of-river hydroelectric project at Hulu Sungai Padas in Sipitang, Sabah. The RM2.8 billion initiative is one of Sabah’s largest renewable energy investments and has secured all required land and resource approvals from the state government. The project operates under a build-own-operate-transfer (BOOT) structure, with commercial operations slated for June 1, 2029 — slightly later than the originally projected December 31, 2028. Once operational, the project is expected to contribute approximately RM300 million in annual recurring revenue to the group. Key PPA Terms: Annual Firm Energy Quantity (AFEQ): SESB will purchase up to 868,894MWh/year at 31.5 sen/kWh. Maximum Annual Allowable Quantity (MAAQ): Up to 950,222MWh, sold at the same rate on a willing-buyer, willing-seller basis. Excess output: Any generation above the MAAQ can be sold at eight sen/kWh, also based on mutual agreement. Renewable Energy Certificates (RECs): Valued up to RM10.1 million, with surplus value shared equally with SESB. The hydropower project employs a run-of-river cascading system, ensuring minimal environmental disruption while preserving natural river flow and surrounding ecosystems. Socio-Economic and Industrial Upside: Jobs: ~2,000 construction jobs and 150 high-skilled roles during operations. Talent pipeline: Jentayu is collaborating with local universities to develop skilled talent in clean energy. Local manufacturing: The group is exploring a JV with a global turbine manufacturer to set up a facility in Sabah, boosting the state’s role in the regional energy value chain. Executive Chairman Datuk Beroz Nikmal Mirdin emphasised the company’s commitment to “localising production and elevating Sabah’s status in the energy sector,” aligning with ambitions for a high-income, innovation-driven economy. EPC Contract Awarded The engineering, procurement, construction, and commissioning (EPCC) contract has been awarded to a consortium led by XD Power Transmission Sdn Bhd (a unit of China’s Xi’an Electric Engineering Co Ltd), PT Anhe Konstruksi Indonesia, and Jawat Johan Sdn Bhd. The award follows a transparent international tender launched in May 2023, which saw eight firms purchase tender documents and four final submissions. The special purpose vehicle, OHP, is owned 70% by Jentayu’s subsidiary, 20% by SESB subsidiaries, and 10% by Yayasan Sabah. Trading in Jentayu shares was temporarily halted on Monday for the announcement. As of 10:33 a.m., the stock was up 2% to 51 sen, bringing its market capitalisation to RM226.9 million. The counter has gained 18.6% year-to-date.

KUALA LUMPUR: The temporary suspension of tariffs by the Trump administration may provide a modest but meaningful boost to Malaysia’s gross domestic product (GDP), potentially lifting growth by between 0.2 and 0.8 percentage point (pp), according to CIMB Securities. The economic impact will depend on the duration of the pause and the outcome of the upcoming US-Malaysia trade talks scheduled for late April. Under a base case scenario where the United States maintains a reduced 10 per cent tariff for a 90-day period—from April 9 to July 8—before reinstating the original 24 per cent rate, Malaysia’s GDP could see an uplift of around 0.2 pp. “If the 10 per cent tariff is extended through the end of 2025, the upside could increase to 0.6 pp. In the most optimistic scenario—where tariffs are fully removed after July—the GDP growth boost could reach 0.8 pp, potentially lifting full-year growth to 4.8 per cent,” the firm noted. However, CIMB Securities added that this still falls short of its earlier forecast of 5.0 per cent for 2025, citing persistent trade uncertainties amid renewed global tensions. The bilateral US-Malaysia negotiations later this month are expected to play a critical role in shaping the economic outlook. The talks may address ongoing disputes regarding Malaysia’s existing tariffs on selected US imports, including agricultural products, alcohol, and motor vehicles. Broader issues such as Malaysia’s approved permit system, halal import regulations, and foreign ownership restrictions may also be discussed. In turn, Malaysia may consider increasing imports of US goods—particularly defence systems, aircraft, and capital equipment—as part of a broader effort to narrow the trade imbalance. CIMB Securities stated that if the talks yield positive outcomes, they could enhance strategic bilateral ties and support trade growth in the second half of the year. “Despite the potential upside, we are maintaining our 2025 GDP forecast at 4.0 per cent for now, given the unpredictable nature of the Trump administration’s trade policies and uncertainties surrounding the negotiations. A breakdown in talks could reignite trade tensions, dampen investor sentiment, and curb global trade flows,” the firm warned.–BUSINESS TIMES

Prime Minister Datuk Seri Anwar Ibrahim has warned that escalating trade tensions between the United States and China could disrupt Malaysia’s export-driven economy and strain its critical trade and investment relationship with Beijing. Speaking at the Kelantan state-level Aidilfitri Madani 2025 celebration at Pantai Irama on Friday, Anwar said the US move to impose steep retaliatory tariffs on several countries—including a now-suspended 24% levy on Malaysian imports—signals broader volatility that may destabilise Asia’s trade ecosystem. “This situation not only affects China’s economy, but also has repercussions for Malaysia,” Anwar said. “When high tariffs are imposed on China, our trade and investment ties with the country are inevitably affected.” He acknowledged that while Malaysia has temporarily been exempted from the latest US tariff wave, the larger implications of the trade war—particularly on China, Malaysia’s largest trading partner—cannot be ignored. “As a trading and exporting nation, we are highly vulnerable to global trade disruptions. If China’s export and investment outlook weakens, the ripple effects will reach our shores too,” he added. US President Donald Trump recently announced a 90-day suspension of higher tariffs on selected countries, including several ASEAN nations such as Malaysia. However, China remains a primary target, with a sweeping 125% tariff still in place. Previously, Malaysia was hit with a 24% reciprocal tariff, which has now been put on hold. Still, a 10% baseline global tariff continues to apply to all nations, except for China, which faces steeper penalties. Anwar emphasised that Malaysia must remain vigilant in navigating the shifting trade landscape, especially as it seeks to balance strong diplomatic ties with both superpowers. “The suspension is welcome, but the underlying threat remains. We must prepare for long-term volatility,” he said. As the US-China tariff standoff intensifies, analysts expect further fragmentation in global supply chains—posing new challenges for Southeast Asian economies that sit at the crossroads of major trade routes.