Tariff & China factors. Going forward, Malaysia manufacturers will face stiff margin compression due to cost down requested by customers (competitive pricing by China companies with similar products). Days of high YoY/QoQ revenue growth & double digits margin are over. They Came They Saw They Conquered !

Get your fact right, EG has almost 500m borrowings denominated in USD, which are recorded under month-end closing rate, whereas Sales and Receivables are based on average spot rate, so it is treated as a natural hedging. With such large base of USD borrowings, in short term they will record more Unrealised Gain than Realised Loss which we can see now.