Posted by IDQWE001 > 2023-04-13 09:04 | Report Abuse

KUALA LUMPUR (April 12): HIL Industries Bhd said its wholly-owned subsidiary in China is to cease business operations after suffering losses due to the US-China trade war. The subsidiary, Hil Precision Plastic Technology (Suzhou) Co Ltd (HPPT), was established in Suzhou, Jiangsu Province, and manufactures precision moulds and relevant plastic products. “The group has decided to cease the business operations of HPPT, as it is highly dependent on our US-based customers which have restructured their operations in China arising from the US-China trade war, hence resulting in us losing our business,” HIL said in an exchange filing. The subsidiary posted an operating revenue of RM3.31 million, gross loss of RM413,498, and loss before tax of RM3.55 million, for the financial year ended 31 December 2022. The setting up of the Suzhou plant in 2006 was HIL's first foray into the overseas market, according to its annual report. With over 12,000 square metres of built up factory, the plant was involved in mould making, injection moulding, spray painting and various unique decoration technologies as well as sub-assemblies.

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84 comment(s). Last comment by IDQWE001 2023-05-02 18:32

IDQWE001

2,992 posts

Posted by IDQWE001 > 2023-04-13 09:07 | Report Abuse

This must be CIA agent's fault, all red army must go support with action.

nicholas99

9,919 posts

Posted by nicholas99 > 2023-04-13 09:21 | Report Abuse

taiwan army. please back taiwan.

IDQWE001

2,992 posts

Posted by IDQWE001 > 2023-04-13 09:29 | Report Abuse

Taiwan alliance is strong enough.

foongsh

1,378 posts

Posted by foongsh > 2023-04-13 17:36 | Report Abuse

this is a big warning sign to those companies production in China but export to US. global supply chain realignment ASEAN countries rise...

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 20:32 | Report Abuse

hil will disappear but smarter companies will grow. Its simple economics.

IDQWE001

2,992 posts

Posted by IDQWE001 > 2023-04-13 22:06 | Report Abuse

Posted by foongsh > 4 hours ago | Report Abuse

this is a big warning sign to those companies production in China but export to US. global supply chain realignment ASEAN countries rise...

Investment shall follow the flows and must understand the international affairs.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 22:15 | Report Abuse

US share of China trap is 12%.....................................................too late for them to stop China.

foongsh

1,378 posts

Posted by foongsh > 2023-04-13 22:21 | Report Abuse

global supply chain realignment ASEAN countries rise are unstoppable.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 22:56 | Report Abuse

Posted by foongsh > 32 minutes ago | Report Abuse

global supply chain realignment ASEAN countries rise are unstoppable.

=========


its not a zero sum game....if China sneezes, the rest of the world catch the cold.

in any case, I do not undestand why a Malaysian wants China to die.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 22:57 | Report Abuse

as far as China is concerned, China wishes Malaysia well............Malaysia do well, China will also do better.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 22:58 | Report Abuse

so u see, it is only idq and foong who wish China ill, China wishes Malaysia luck.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 23:00 | Report Abuse

people who wish China ill are very s.tupid people...and most of these st.upid people lives in America.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 23:06 | Report Abuse

I will say it is not possible to change the world trend already. The world trend is multi polarity and BRICS+ rising and more and more important. Everyone in the global south can see it....except those who wish CCP ill.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 23:09 | Report Abuse

and no one in the world wishes CCP ill...unless u are Taiwanese or an American. ..and a member of the western main stream media.

the facts are clear, the trend is clear and nothing u do can change it.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 23:12 | Report Abuse

China's achilles heel at the moment is chips and chips self reliance but since high end chips is only 2% of all chips consumed in the world, its not a fatal weakness and it too will be solved within 5 years.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-13 23:28 | Report Abuse

u think this is 20 years ago when China produces toys for the world meh?

China is at the leading edge in every industry and fast becoming the most important foreign investor in the world.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-14 01:35 | Report Abuse

when Biden started his trade war on China................. he under estimated China and over estimated USA.

foongsh

1,378 posts

Posted by foongsh > 2023-04-14 05:52 | Report Abuse

Posted by IDQWE001 > 7 hours ago | Report Abuse

Investment shall follow the flows and must understand the international affairs.

CCP lost his The Most Favour Nation and Developing Country status, high tariff will be imposed by the Western. With Global Supply Chain Realignment take place all currencies investment in ASEAN countries will boost the economy, in coming 10 years ASEAN countries rise are foreseen. But don't be silly to challenge the global trends.

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 10:51 | Report Abuse

U thinks it's China 20 years ago meh?

Thucydides trap...China is calmly solving the problems and will come out stronger. As for America politicians and media, they were unable to rise up above thucidides trap...but nevermind, China is spending time and money to promote brics+ and a new world order......Malaysians who cheer for America unipolarity and China/ Ccp ill are i.diots .....it's good to see Malaysia Anwar making all the right statements

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 10:52 | Report Abuse

The global south is united in what they prefer...a new world order with multipolarity

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 10:53 | Report Abuse

The global south Brics+ is where the growth is and 85 % of population

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 10:55 | Report Abuse

No one is saying next 10 years are easy years....but for results to show, for success of brics+, no need to wait long.

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 10:56 | Report Abuse

Any Malaysia who wish ill on China on ccp are I.diots and sure to fail

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 10:59 | Report Abuse

And the China Africa solidarity is unbreakable...Africa also wake up already

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:01 | Report Abuse

Latin America, Africa, middle east, central Asia, ASEAN countries.....everyone is behind the project of multipolarity...no one wants to remain as slaves of American unipolarity

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:04 | Report Abuse

Economically , America has lost it already...what America has is its military unipolarity and a comforming corporate media working together with their military complex..
..
.but China and brics+ and global south will win

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:11 | Report Abuse

And if apple choose to leave China completely, let them do it la....it will be devastating for apple and very miminum impact on China....better still Chinese consumers can buy cheaper Huawei and forget about Apple

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:18 | Report Abuse

Latest trade and FDI statistics from China....explosive growth in China in q1 .... analysts imf and everyone revising upwards their expectations for China in 2023

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:20 | Report Abuse

Biden sanctions every thing from Xinjiang....but Xinjiang growth has not slow down and remains as China's fastest growing province

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:22 | Report Abuse

Biden elected to do some thing about climate change....but by sanctioning Xinjiang shows his true priority
.......

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:23 | Report Abuse

Biden thinks he can create chaos in Xinjiang but Xinjiang continues to do very well

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:25 | Report Abuse

And the Ukraine war is not going well for biden as the latest leaks shows

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:26 | Report Abuse

Ukraine soldiers are dying at a rate 4 times higher than Russia soldiers

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 11:28 | Report Abuse

Europeans are demonstrating and protesting across the continents....can still keep the lie going on meh?

IDQWE001

2,992 posts

Posted by IDQWE001 > 2023-04-14 12:02 | Report Abuse

Alibaba's Hong Kong shares slump on SoftBank's stake sale report

TOKYO, April 13 (Reuters) - Japanese technology investor SoftBank Group Corp (9984.T) has moved to sell almost all of its remaining shares in Alibaba Group Holding Ltd (9988.HK), , the Financial Times reported, sending the Chinese e-commerce giant's Hong Kong-listed shares lower.

The sale would come as valuations of China's big tech firms have started recovering this year after an end to two years of heightened regulatory scrutiny, providing a window for long-time investors such as SoftBank to reduce exposure to an economy battered by strict pandemic policies and Sino-U.S. tension.

SoftBank's share price closed down 1% on Thursday, versus a 0.3% rise in the broader market (.N225). Alibaba, one of the most valuable assets in SoftBank's portfolio, tumbled as much as 5.2% in Hong Kong and closed down about 2%.

Tencent Holdings Ltd's (0700.HK) shares plunged on Wednesday after the social media giant's top shareholder Prosus NV (PRX.AS) said it may sell more of its shares, underscoring selling pressure on Chinese tech names.

SoftBank has been seeking ways to monetise its stake in Alibaba, which the Japanese conglomerate bought into more than two decades ago by spending just $20 million.

"They have been clear that ... they need to monetise profitable holdings," Jon Withaar, head of Asia special situations at Pictet Asset Management, said of SoftBank.

"Perhaps some expected that they may slow the pace of their selling in now that their Arm IPO is moving closer to completion, but ultimately everything they are doing is within the scope of what they have told the market."

Neither SoftBank nor Alibaba responded to Reuters' requests for comment.

SoftBank aims to list British chip designer Arm this year in an initial public offering (IPO) that would raise at least $8 billion, people familiar with the deal told Reuters last month.

On Wednesday, the FT said forward sales based on filings at the U.S. Securities and Exchange Commission showed SoftBank's Alibaba stake would eventually fall to 3.8% from almost 15%.

"The positions were already hedged when forward contracts were signed, so there is no more impact on public market," 86Research analyst Xiaoyan Wang said.

The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2 billion worth of Alibaba shares this year through prepaid forward contracts, the newspaper said.

SoftBank said the transactions reflected a shift to "defensive mode" to address an uncertain business environment and that it would provide details in its quarterly earnings results announcement in May, the British newspaper reported.

"China's regulatory environment in the internet sector turned drastically tougher in recent years, and this is SoftBank simply responding to the changing environment, as it has already been doing," said SBI Securities analyst Shinji Moriyuki. "It is well within the realms of expectations that the proportion of Chinese shares among its total investment will shrink further."

SoftBank booked a $34 billion gain last year by cutting its Alibaba stake to 14.6% from 23.7%, as the firm sought to shore up cash reserves amid steep losses incurred by its Vision Fund.

Vision Fund, which upended the tech world with big bets on startups, posted a staggering 8 trillion yen ($60.45 billion)loss in calendar 2022 as market turmoil slashed portfolio firms' valuations, prompting SoftBank to raise cash.

At the time, it also used prepaid forward contracts - a type of derivative contract that allows investors to hedge risk.

In New York, Alibaba's shares were up 3% as analysts noted that the stake sale was more due to SoftBank's circumstances.

Alibaba has lost more than two-thirds of its value from highs touched in late 2020, hit by increased regulatory action in the technology sector that included a hefty fine on Alibaba and scrutiny of founder Jack Ma's business empire.

The Chinese firm plans to split into six units and explore fundraisings or listings for most of them, marking the biggest restructuring in its 24-year history.

($1 = 132.3500 yen)

IDQWE001

2,992 posts

Posted by IDQWE001 > 2023-04-14 12:04 | Report Abuse

Foreign funds are very sensitive, money talk without physical support no use.

foongsh

1,378 posts

Posted by foongsh > 2023-04-14 12:07 | Report Abuse

Malaysian red army must support with fund injection, don't just lip service.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-14 12:23 | Report Abuse

the priority for the CCP is the country, not the wealth of softbank..............................................

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-14 12:24 | Report Abuse

all these i.diots idq and foongsh...u think your priorities are also China'/ CCP priorities meh?

IDQWE001

2,992 posts

Posted by IDQWE001 > 2023-04-14 12:29 | Report Abuse

Posted by foongsh > 20 minutes ago | Report Abuse

Malaysian red army must support with fund injection, don't just lip service.

You are right lip service without fund injection is NATO. No Action Talk Only.

brightsmart

3,784 posts

Posted by brightsmart > 2023-04-14 13:02 | Report Abuse

u live in Malaysia. U dont live in America..........

Malaysians are not brain washed to hate China/ CCP.

IDQWE001

2,992 posts

Posted by IDQWE001 > 2023-04-14 13:30 | Report Abuse

Posted by foongsh > 46 minutes ago | Report Abuse

Then evil supporters start shouting i.diot, telling lies, traitors etc. showing them a very pity and hopeless because they know you are telling the truth with facts and figures but they don't know how to answer ...

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 19:04 | Report Abuse

When America is engaged in sinophobia, we have a Malaysian here engaged in same activity...it's crazy

IDQWE001

2,992 posts

Posted by IDQWE001 > 2023-04-14 19:37 | Report Abuse

Question: If a person not work for the evil factory why can't he tell the truth ? or If a person work for the evil factory why can't he tell the truth ? very very pity it shows that the evil sopporter is hopeless and anxious. He knows that it was a truth but have to deny it because he can't answer it.

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 20:24 | Report Abuse

Thucidides trap. I know who I see will win. ...and good for the world for shared destiny of mankind

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 20:30 | Report Abuse

During the cold war, u have been conditioned to believe ccp evil.

But it has no basis in facts and no basis in truth....it's all western propaganda

As for China and CPC....China and CPC doing very well.....no need your crocodile tears

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 20:54 | Report Abuse

Xi jinping has given up on American coming to it's senses and trying to stop China's development.....in Xi jinping view, America is practically ungovernable except in it's unity in suppressing China's rightful development....but Xi jinping and CPC wishes to declare that China will continue it's reform path, that China will be open for business, ....that China will promote shared destiny for mankind to solve common problems facing mankind.

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 21:04 | Report Abuse

As far as Xi jinping is concerned, the unipolar moment when America is the only top dog in town ie 1990 to 2010 is over. The world is moving towards multi polarity and whether America like it or not, they cannot stop it .

qqq47660

9,063 posts

Posted by qqq47660 > 2023-04-14 21:40 | Report Abuse

If u look carefully, America is doing fire fighting. China has strategic plans that works naturally..
.
.... conclusion China wins

foongsh

1,378 posts

Posted by foongsh > 2023-04-14 21:52 | Report Abuse

Posted by IDQWE001 > 2 hours ago | Report Abuse

Question: If a person not work for the evil factory why can't ..........

Obviously foreign funds will flow to ASEAN countries from now, a dynamic economy system due to supply chain realignment, Malaysia will get all currencies funds and benefit from that. Apple advised their suppliers to extend their productions in India, Vietnam, Thailand etc. Malaysia has strong E & E sectors, if work harder increase $1000+ GDP per capital then will be on par with CCP. Finally Malaysia win.

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