Bias allegation against DEI-claimed Sumitomo Malaysia

Donald Trump's "Liberation Day" tariff was meant to protect U.S. industry, punish foreign exporters, and raise revenue, but it was done without consideration to consumer welfare, livelihood of workers in the global supply chains, and sensitivity of low-income households to price increases. 

Reciprocal tariff severed international cooperation and goodwill by alienating allies and trading partners. As a result of the inhumane manner it was implemented, the tariff policy led to domestic cost burden, pushback on US businesses, retaliation from trading partners, legally and economically unenforceable, and risk of global isolation. 

This highlights the problem with trade or business that over-focus on narrow economic and business objectives without consideration for social, cultural and environmental expectations. 

For companies operating in a developing country and sensitised environment such as Malaysia, it need be aware of the national aspirations and extend beyond the mandated corporate governance. 

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Transforming Tabung Haji: Obviously Rashid Hussein not learned from his past

TH chairman Tan Sri Abdul Rashid Hussain outlined his vision for the institution's long-term financial sustainability with a proposed revision of the Tabung Haji Act 1995 (Act 535). [The details in the Business Times report reproduced at end of this posting.] 

He is suggesting reforms to align with TH's operation by strengthening its depositor base, improving cost-of-fund management, and regulatory safeguards for long-term investments. The gist of his transformation is to turn TH from a syariah-based savings institution into a full fledged Islamic investment company. 

Naturally it is appealing to bankers conversant with such terms as asset-liability mismatch, cost of fund and pursuit for "competitive" return. And there is a professor fascinated with digitalisation, and AI to the prospect of effectively investing in Bitcoins and Stablecoins. 

But it is not unique. 

Rashid is duplicating his rise and fall path as a former securities salesman from Singapore, who established RHB by the rapid growth of acquiring D&C and Kwong Yik Banks. 

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